480 – Flashcard
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measure market attractiveness and business strength
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General Electric Model
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According to Porter, _______ refers to producing goods and services for efficiently than the competition.
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cost leadership
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According to Porter, _______ is an attempt to distinguish one's products as unique in the industry.
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differentiation
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A company's whose mantra is, "We do one thing very well" is probably pursuing which of the following strategies?
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Focus
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A package delivery company or a cell phone company wouldn't go far if they could not deliver products smoothly and reliably. This means that ______ is necessary for these industries.
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operational excellence
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When high-tech and electronics companies churn out new products constantly, it demonstrates that they are competing for ______.
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Product Leadership
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*Which is not one of the four classes of goals?
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being a leader
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Imagine your boss wants you to investigate ways your company might be able to enhance customer satisfaction, create an attractive loyalty program, and reward your customers. Most likely, the company's immediate goal is to _____.
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Delight customers
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*Bill advises Mary that there are essentially three strategies to achieving goals. Assuming Bill is correct, how would he describe these three strategies?
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do nothing, do nothing different from status quo, do something different
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Company ABC has a mature brand in a stable market, so managers maintain business as usual-same price, same marketing support, etc. What strategy are they using?
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doing nothing different
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What does ROM stand for?
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Return on marketing
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If we are assessing the macro-environmental issues we must attend to, such as legal, technical, and social changes, then we are considering our ______.
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context
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What are we known for?" is a question about which of the 5Cs?
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company
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Bob is writing a marketing plan and is considering the relationship his company has with distribution channel members. Which of the 5Cs is he thinking about?
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collaborators
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Company ABC's is consulting an economist to help them understand the economic climate as it affects their business. They are considering which of the 5Cs?
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context
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??40. What is product positioning done through?
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4 P's
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Segmentation should be based on..
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data
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______ involves understanding the differences among current customers, non-users, and ideal customers.
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segmenting
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In ______, we need to choose segments that are big enough to pursue.
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targeting
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Good Stuff, Inc. sets high price for its products and seeks profit margin, not volume. Good Stuff's marketing plan should identify which of the following strategies?
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market skimming
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Gary is writing about targeting in his marketing plan, and states that empty nesters are an important segment for his company. His company probably has to do with which of the following?
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travel and hobbies
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??46. Jenna's beauty salon is thinking about offering occasional discounts for regular customers. They are considering which of the 4Ps?
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Price
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Camille has started a photography business and is trying to decide between working toward mass exposure or a more exclusive appeal. She is thinking about which of the 4Ps?
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promotion
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Deciding on your ideal distribution system relates to which of the 4Ps?
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place
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As we consider the 4Ps as they relate to our marketing plan, we should remember that _____ is the easiest one to change.
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price
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Marketing plans are often viewed as ______.
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works in progress
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** 24. Which of the following measures the dimensions of market attractiveness and business strength?
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The General Electric Model
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A company most wants to optimize the number of its...
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stars
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Brand X is not performing well (i.e. low market share) in a high growth industry. Brand X is a ________.
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question mark
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When a brand has strong market share in an industry that is not experiencing a high rate of growth, it is best referred to as a ________.
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cash cow
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Apple's iPod brand has a relatively large share in a growing market, and thus is best classified as a ________.
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star
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A brand with small share in a market that is not growing is called a _________.
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dog
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**18. Which strategy in the Ansoff product-market growth matrix combines new markets and current products?
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market development
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** 17.Which strategy in the Ansoff Product-Market Growth Matrix combines current markets and current products?
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market penetration
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Looking for suppliers who are cheaper than our current ones but still high quality is an example of a way ________.
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decrease variable costs
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There are two basic attitudes that marketers measure in evaluating ads. The first is attitude towards the ad. What is the second?
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attitude towards the brand
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??14. What term is used to describe an experiment run by an ad agency where the ad agency will recruit consumers to come watch a TV series and commercials? The consumer will then answer questions about the ads and the agency use the responses to determine how well the ads will do in the real world.
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copy testing
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??13. _________ are tested with numerous measures of attitudes and behavioral intentions.
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affective goals
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The idea that familiarity from repeated exposure to a brand name, logo or ad will over time enhance the viewer's favorability toward the ad (and brand) refers to which term?
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mere exposure
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Memory is the primary consideration for measuring _______ results.
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cognitive
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If a competitor starts a price war, what should the company do?
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launch a comparative ad
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If a company is trying to create positive attitudes and awareness about a brand extension, they should use what type of ad?
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non-comparative
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Which of the following ad types does NOT trigger emotional responses?
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comparative
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types of ads
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?? number 8
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_______ is when a piece of information is conveyed by any type of source, expert or not.
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sleeper effect
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In a(n) ________, the featured brand name is mentioned, as is the brand name of a competitor.
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comparative ad
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The goal of getting the consumer to purchase is ________.
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not easily achieved
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Which of the following is NOT a way marketers wish to affect consumers in advertising?
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passivity
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ways marketers wish to affect customers in advertising?
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cognition, affect, and behavior
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AIDA represents attention, interest, desire and...
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action
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If the advertising goal is to increase awareness, what type of ad should be run?
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an ad with lots on information
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What is the primary means by which any company communicates to its customers about its products?
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advertisting
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increasing awareness and knowledge about our brand. early in the product life cycle.
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cognition
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enhancing attitudes and positive associations about our brand. when the brand is growing.
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affect (emotions)
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ultimately encouraging more buying of our brand. at brand maturity
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behavior
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ADIA
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Attention- do customers know about us? Interest- would customers consider us? Desire- Do customers want us and look for us? Action- Do customers buy us, talk and post about us?
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There's two ways into your brain: a central path or a peripheral path
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ELM (elaboration likelikhood model)
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a piece of information is conveyed by some source; celebrity, friend, an expert, something you read, etc.
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sleeper effect
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what kind of ad would you use to increase awareness and create positive attitudes and buzz about brand extension need to express the new features and benefits clearly?
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straight forward, one sided, non comparative
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reminder ads to reinforce its target customers attitudes might use ___
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emotional appeal
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concept testing is usually done..
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in a focus group
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copy testing is usually conducted
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via surveys
