question

five approaches to marketing

answer

product price sales marketing society

question

what does branding for marketers do

answer

it provides forgiveness

question

Pricing the product

answer

100 percent mark up, buy for 50 raise it by 50 small retailers attract customer by offering 20-30% mark down -understanding the pricing game -becoming better consumer -better job marketing yourself

question

cooperative advertising

answer

the manufacturer works with the distribution change to cooperatively make sure there is in market advertising -is a merchandising scheme -push-pull strategy -example :Northface will give schools 1% for advertising if they buy so much of the product

question

brochures

answer

value of brochures is pass around value gives a lot more time to tell your story people make the mistake of having the brochures strictly online

question

coupons

answer

sales promotion

question

percentage of sales

answer

simple to use, as sales go down, so does your budget. this is bed because less profit, more advertising needed

question

fixed sum per unit

answer

marketer likely to benefit from increasing the budget during times of rising sales, decreasing the communications budget during period of falling sales could be disastrous in some cases -SOME ITEMS WITH HIGHER MARGIN NEEDED A FIXED AMOUNT

question

Competition Based

answer

always at the mercy at your dumbest competitor takes into account competitor's activities

question

all you can afford

answer

use money with low risk but high budget. this is bad because its not creative and not always effective

question

objective and task

answer

based on achieving communications objectives, focusing on objectives uses funds most efficiently no basis for setting priorities, treats all objectives equally, hard to estimate what it will cost

question

how much do companies usually spend on sales budgets?

answer

4%

question

public relations

answer

evaluates public attitudes identifies issues of public concern gain public acceptance starting to take over advertising as a marketer you need to maintain good press relations because they can help you out get us to feel about product and what we do more relations than advertising

question

product publicly

answer

magazines do product publicity because it is 'non-biased' integrating advertising and entertainment, adding products into the story line

question

examples of public relations

answer

corporate communications public affairs-participating on boards lobbying-not always bad employee and investor relations crisis management-tylenol new product publicity product placement consumer education event sponsorship cause related marketing

question

tools for consumer sales promotion

answer

coupons and rebates premiums loyalty marketing programs contest and sweepstakes sampling point of purchase promotion

question

loyalty marketing programs

answer

clear exit strategy, if it doesn't work how will it end need to have something worth while for consumer to receive easy to achieve in reasonable time easy to use

question

4 important communication mix

answer

advertisings sales stimulus public relations one on one with the consumer to match up the needs

question

steps in the selling process

answer

generate leads qualify leads spend time and effort in pre-sales presentations to know how to closely product will line up with needs probe customer with needs develop solutions handle objections close the sale follow up

question

customer organization

answer

example nike decides they want certain people to sell to national accounts different person for regional and a person for small, and local people by telephone based on how the group will use the product

question

product organization

answer

based around product general electric has different people selling different products pharmaceutical needs different people specializing on different parts of the hospital wings

question

geographical-high touch organization

answer

needs more communications to the consumer calling on customers weekly product turning quickly

question

What type of communication does coca-cola use?

answer

all 4 types of communication

question

What type of communication organization does pharmaceutical use?

answer

needs people specialized on the product, close to the consumer, and done by types of customer/ The most important for them however is going to be product

question

compensation straight commission

answer

highly aggressive selling is required non selling tasks are minimized company cannot closely control the sales force activities produces maximum amount of incentive

question

straight salary

answer

compensation new sales reps when firm moves into new sales territories that require development maximum amount of security building a territory or new product

question

combination plan

answer

when sales territories have relatively similar sales potentials firm wishes to provide incentives but still control sales force activities provide security difficult to administer when you sell more than your salary they start subtracting from base pay

question

evaluating sales people

answer

sales criteria account criteria calling criteria time criteria expense criteria non selling criteria

question

account criteria

answer

we have to grow the account base, add new customers and get ride of the old customers that aren't buying anymore. We have to grow the amounts that are selling with us

question

calling criteria

answer

how often are they calling on their customers by telephone, personal visits or communication

question

time criteria

answer

a lot of flexibility of when you work do you get your things done on time

question

expense criteria

answer

have to be able to measure their sales budgets

question

non selling criteria

answer

anything that you want them to do should be set up in their criteria and should be evaluated by that criteria

question

setting communications budget

answer

% of sales fixed per unit all you can afford objective from task competition based

question

trade sales stimulus

answer

business to business promotion push promotions

question

Naked Brand Video

answer

consumer has a lot more power to get messages out consumers making more decisions based on values of a company companies will have to make changes towards sustainability

question

functions of a retailer

answer

break down bulk carry inventory provide service assortments of products Responsibility is to have inventory

question

fish philosophy

answer

be there, make their day, make it fun, engage in the customer

question

gorilla marketing

answer

maximum creativity because you don't have a lot of money hope it goes viral

question

competitive advantage for retailers

answer

unique merchandise loyal consumers loyal employees high customer service information systems

question

institutional advertising

answer

GE advertises benefits of GE not just one product. Do this for good feeling about products and company acts as advertising for potential clients Branding

question

premiums of sales tools

answer

cracker jacks: has toy inside

question

sweepstakes

answer

no consideration nothing they have to do or buy to participate in the sweepstakes

question

horizontal conflict

answer

occurring on same level across channels

question

vertical conflict

answer

occurring within the channel, like a middle person that's providing product or service, diamond service

question

stealth factor

answer

ad on tv whole world sees it, but if I send you a letter, only you see it, not competitors

question

faucet factor

answer

product of direct marketing being available can turn it up or down depending on how much product or service you can handle or want at point in time

question

factors affecting channel choice

answer

market factors product factors producer factors

question

level of distribution intensity

answer

intensive selective exclusive separate/different products for different consumer to help channel conflict

question

intensive distribution intensity

answer

product everywhere, connivence products

question

selective distribution intensity

answer

not everywhere but in certain retailers

question

exclusive distribution intensity

answer

specialty goods, prestige, high service dealers

question

distribution law

answer

what they are doing that is interfering with competition

question

shopping in america

answer

over retailed shopping is 90% entertainment, not need average purchase is disposed of in 6 months

question

Functions of Retailers

answer

break down bulk providing service holding inventory creating assortments

question

elements in retail strategy

answer

target market retail format building sustainable competitive advantage defending position

question

loyal customer

answer

satisfied doesn't mean we loose 60% of customers to indifference paying attention and observant

question

building a sustainable competitive advantage

answer

loyal customer location human resources unique merchandise distribution and information center buying power, vendor relations customer service

question

human resources

answer

inventory shrinkage- theft is mostly employs committed employees: product procedures sell help customer make purchase

question

franchises

answer

fastes growing retailers popular because it contains: brand recognition set of procedures business format customer loyalty product development national advertising access to vendors- supply chain location facilitation/financing you deal with employees if you own a franchise

question

integrated marketing and communication

answer

confusing messages will loose effectiveness have consistent message to the right customer at the right time using the most effective media recognizing what the customer is buying- hole not the drill bit understanding the buying process contact points of where seeking info media to carry message not all media is created equally make it memorable and fresh

question

horizontal media diffusion

answer

more channels available types of media, tv, mags, radio, internet more channels than before

question

vertical channel diffusion

answer

different choices within channels used to have only 3 tv channels and how have over 300

question

consumer avoidance

answer

adoption of do not call list 70,000 households, 100,000 in first 45 days most expensive commercial is right before show starts avoidance on consumers behalf both active and inactive consumer avoidance, largest, quickest adoption of any product in our history was the adoption of the do not call list that prohibited marketers from calling us at home

question

what are employers looking for

answer

purpose focus detail passion

question

customer buying process (chapter 5&6)

answer

...

question

goal of marketing communication

answer

create attention not awareness

question

positive images

answer

inform markets about products

question

identify prospects

answer

quality, develop good evaluation

question

channel relationships

answer

find out names and needs of potential buyers (marketing channels) pull products, retain customers- create value for them and satisfy their wants and needs and earn loyalty

question

communication strategy

answer

advertising public relations sales promotion stimulus personal selling

question

advertising

answer

customer relations management get people to feel a way about product direct marketing getting someone to do something specifically asking to buy directly and give it immediately

question

communication process

answer

sender figures out how to encode message so that someone can understand what they are talking about Noise gets int the way sender encoding message message channel decoding message receiver feedback channel be careful of miscommunication messages properly decoded

question

advertising appeals

answer

moral- you need this to save planet rational-er words faster cleaner emotionally- suffering people,tearjerker fear-if you don't have this you won't... sex-attention getter humor-wears on quickly, people's opinion

question

As shown in class, the commercial used a combination of

answer

sex and humor

question

#1 rule of marketing

answer

frogs sell beer

question

institutional advertising

answer

feel good about company, corporate identity, pioneering, competitive, comparative

question

corrective advertising

answer

corrects misconception on product politicians

question

#1 users of corrective advertising

answer

POLITICIANS

question

Monitored Media

answer

two revenue schemes subscribers and advertising people reading ads match target audience bureau of circulation magazines sweeps week have a to list readership with bureau of regulation

question

benefits of magazines

answer

can do full page ads, easy to target ads because of so many and can get very expensive

question

real value of magazine

answer

it has pass around value and retains value

question

benefits of radio

answer

potential of not listening, can do other things while listening tall very specific

question

benefits of tv

answer

no one pays attention very expensive can get around that by playing commercials at different times

question

benefits of outdoor media

answer

billboards state regulation due to looking and driving and space near highway allowed

question

3 types controlled readership

answer

1 paid subscription 2 qualified subscription 3 controlled subscription

question

paid subscription

answer

gather basic demographics

question

qualified subscription

answer

to get magazine you get free but have to meet and maintain standard business to business magazines ask you main demographics and you get magazine free

question

uncontrolled subscription

answer

local magazine printed geographic but don't know who's reading do not know target market on these

question

unmonitored media

answer

direct mail trade exhibits cooperative advertising brochures coupons catalogs special events

question

direct mail

answer

can do very targeted mailings can get people that ski wear contacts and drink wine is measurable you can know how many people see the mail and how many people respond know return and response rate testable can see what works for specific advertising faucet factor stealth advertising

question

junk mail

answer

mail that misses its target because of data you will get unsolicited mail, however based on demographics you are interested it isn't going away because it works

question

marketing channels

answer

interdependent organizations that actually work to create efficiency to get the product to the consumer

question

supply chain

answer

just the way we move the goods as a company we don't want to deal with all situations with all customers create contact efficiency

question

retailer

answer

a channel intermediary that sells mainly to customers

question

merchant wholesales

answer

sit between manufacturer and retailer to create efficiency hawkeye wholesale- institution that buys goods from manufacturers, take title to goods, stores them, and resells and ships them

question

agents and brokers

answer

wholesaling intermediaries who facilitate the sale of a product by representing channel members independent sales people who do not take title to the product meaning they don't buy the product and resell the product, role is to get buyers and sellers together, paid by company to do so

question

transactional functions

answer

contacting promotion, negotiating, risk taking

question

logistical functions

answer

physically distributing, storing, sorting, decide which is the best way to transport product between them and next person in the channel

question

facilitating functions

answer

researching, financing (provide customers with customer terms) researching- taking information to and from market place

question

service functions

answer

repairing, warranty, away from factory to fix the problem to handle not only warranty/repair

question

low customer service organization

answer

both target and Walmart you don't need a lot of help buying the product, helping customers make the right decisions

question

creston winery

answer

private branding:trader joes through the wine company channel intermediaries: used brokers- represented multiple vineyards broker's aren't taking title to the product- they are only facilitating the sale

question

coca-cola channeling

answer

number one product: sell recipe to bottling companies, channeling: coca-cola, bottling companies, retailer, consumer May be vertical ANSWER=C

question

nike channel conflict

answer

if nike opened up a nike store in downtown Iowa City next door to running wild, would that be horizontal or vertical conflict? BOTH DOESN'T HAVE TO BE ONE OR THE OTHER

question

preventing channel conflict

answer

get rid of minimum order, get rid of cash advance, begin to believe they are supporters of independent retailers strategic alliances coming up with separate products for different customers, probably was that columbia was trying to do the same thing

question

strategic alliances

answer

will use someone else's channel structure that is providing certain services to help them accommodate

question

red bull distribution

answer

created strategic alliance to carry/distribute Red Bull in north west Iowa

question

channel structures

answer

consumer-direct retail wholesaler agent/broker business alternative channels

question

sources of competitive advantage

answer

develop loyal customers-paying attention location-traffic patterns HR-committed employees train employees unique exclusive merchandise distribution information systems buying power/vendor relations customer service

question

develop loyal customers

answer

just paying attention/being there with the customer, taking genuine interest in the ustmers

question

train employees on

answer

product itself procedures how to sell it-teach them tp help customer select and make the purchase

question

pricing strategies

answer

im going to make you believe that this is this price, and make you believe that its on sale

question

presentation of the retail store

answer

employee type and density merchandise type and density fixture type and density sound odors visual factors: gap has created segmentation of product based on visual factors on difference between old navy and banana republic

question

francises

answer

fastes growing type of retailer in the country

question

mcdonalds franchise

answer

they have brand recognition, set of procedures which leads to consistency, tide and true business format, product development, national advertising, access to their vendors, lower risk, location, facilitation- financing from them, stuck dealing with the employees- indifferent service at franchises

question

horizontal diffusion

answer

more channels available (media communications channels radio, tv, internet, magazines, new media= marketing communications pop up in unlikely place) Many more channels that we've had before

question

vertical channels

answer

in media diffusion, actually talk about number of choices within that channel

question

integrated marketing communication

answer

if you dont stay on message, send confusing messages into the market place= you will lose the effectiveness you have. Having a consistent message to the right consumer, at the right time, using the most effective media. Using the more effective media for them, not you

question

interview must haves

answer

sense of purpose focus attention to detail passion

question

integrated marketing communication: customers

answer

recognizing what the customer is buying understanding the customer buying process understanding all the influencers recognizing all contact points where customers may seek information selecting the right medium to carry the message making the message fresh and memorable

question

goals of marketing communication

answer

create attention build positive images identifying prospects channel relationships retain customers

question

overall purposes of marketing communication

answer

quality is a commodity, there is going to be an extreme shift/focus in people buying from companies that they feel comfortable with and align themselves in the product

question

what can dave do that chuck norris cant

answer

identify a target market

question

4 different components of communication strategy

answer

advertising/direct marketing- feel a way about product Public relations sales stimulus personal selling

question

consumer advertising strategy

answer

solely pull strategy

question

institutional advertising-corporate identity

answer

advocacy advertising get people to feel good about organization get investors to feel good about organization *news shows on sundays-business types, investing in stock market

question

product advertising

answer

pioneering, competitive going against competitors

question

comparative

answer

sometimes can be comparing old product to NEW, improved product *building demand for category versus product itself

question

trade exhibits

answer

normally done in connection with trade shows, one way to communicate product

question

functions of public relations

answer

press relations product publicity corporate communication public affairs lobbying employee and investor relations crisis management

question

public relation tools

answer

new product publicity product placement consumer education event sponsorship cause related marketing good relations with the press*

question

coupons and rebates

answer

there are people who are price-sensitive shoppers, also stimulate some short term demand, take money to lower risk-still paying dollar for product example consumers dont always return rebates but when they do they provide marketing research BREAKAGE

question

premiums

answer

some product or special we add on to get the consumer to by our particular product if you buy washer we will throw in 4 gallons of time make sure the premium is inline with the interest of the consumer

question

contests and sweepstakes

answer

highly regulated by state law, varies state to state wording must be very precise

question

point of purchase promotion

answer

easiest way to think about it: as you are walking down bookstore aisle, see kiosks with books in them= point of sale things you see at check out counter in grocery stores, relying on impulse purchase

question

sales promotion

answer

consumer promotion trade promotion

question

promotion

answer

short term marketing program to promote sales of the organization and or company

question

trade sales promotions

answer

trade allowances push money training free merchandise store demonstration conventions and trade shows

question

sales

answer

trying to line up consumers needs with your product, really about good listening

question

steps to good sales

answer

generate leads quality leads probe customer needs-pen example develop solutions handle objections close the sale follow up

question

areas of communication mix

answer

advertising sales stimulus public relations final step where we have to meet one on one with the consumer and try to match up their needs

question

coca cola uses what form of communication?

answer

ALL of them

question

methods for setting communications budget

answer

percentage of sales fix per unit all you can afford objective in task competition base

question

trade sales stimulus

answer

business to business promotion, retailer/wholesaler and typically they are push promotion

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