question

_____ is any form of impersonal, sponsor-paid, one-way mass communication.

answer

Advertising

question

How can advertising affect consumers?

answer

It informs them about products and services and influences their attitudes, beliefs, and ultimately their purchases

question

Tobacco company Philip Morris runs television ads where they promote quitting smoking and direct viewers to a Web site for support and help. These ads are examples of _____ advertising.

answer

Advocacy

question

Which form of advertising is designed to influence demand for a specific brand?

answer

Competitive advertising

question

Before any creative work can begin on an advertising campaign, it is important to:

answer

Determine what goals or objectives the advertising should achieve - advertising objective

question

A feature of a product is called a(n):

answer

attribute

question

In advertising, the goal is to sell the _____, not the _____ of a product.

answer

Benefits not the attributes

question

The _____ is the channel used to convey a message to a target market.

answer

Medium

question

_____ advertising has the advantages of being both timely and geographically flexible.

answer

Newspaper

question

_____ is a measure of the number of times an individual is exposed to a brand message. It is used to measure the intensity of a specific medium's coverage.

answer

Frequency

question

Tools for the public relations manager include all of the following EXCEPT:

answer

New Product Publicity Product Placement Consumer Education Sponsorship Company Web sites

question

Which of the following statements about contests and sweepstakes is true?

answer

Contests are promotions in which participants use some skill or ability to compete for prizes Sweepstakes depends on chance and participation is free also they draw about ten times more than contests do While they draw interest and publicity they are not effective tools for generating long term sales to increase sales managers must make certain the award will appeal to the target market

question

When compared to other forms of promotion, personal selling:

answer

Personal selling provides a detailed explanation or demonstration of the product The sales message can be varied according to the motivations and interests of each customer Personal selling can be directed only to qualified prospects Personal selling costs can be controlled by adjusting the size of the sales force in one person increments Personal selling is considerably more effective than other forms of promotion in obtaining a sale and gaining a satisfied customer

question

_____ is a sales practice that involves building, maintaining, and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerships.

answer

Relationship/Consultative selling

question

Relationship selling:

answer

Relationship sales people become consultants, partners, and problem solvers for their customers they strive to build long term relationships with key accounts by developing trust over time. The results are loyal customers who continue to buy from the company typically used in selling situations for industrial type goods such as heavy machines or computer systems, and services, such as airlines and insurance, than for consumer goods. Typically used for industrial type goods than consumer goods

question

_____ is the ultimate goal of a new trend in marketing that focuses on understanding customers as individuals instead of as part of a group

answer

Customer Relationship management

question

_____ involves delegating authority to solve customers' problems.

answer

Empowerment

question

Which of the following is an example of a channel through which customer data are traditionally gathered?

answer

Store visits, Conversations with salespeople, interactions via the Web, traditional phone conversations, and wireless Communications. - Online Chat Window,

question

_____, or prospecting, is the identification of those firms and people most likely to buy the seller's offerings.

answer

Lead generation

question

Effective sales management begins with:

answer

Determination of Sales Goals

question

Because of the influence of social marketing, the interaction between producer and consumer has become LESS focused on:

answer

Less about entertaining and more about listening, influencing, and engaging

question

One reason why negative customer comments and complaints are important to an organization is that they can:

answer

They can illuminate unknown brand flaws and if negative comments about a brand go unanswered that brand is insincere and consumers will take their business elsewhere. Comments tend to go viral

question

After establishing a listening platform, an organization should:

answer

Develop a list of objectives for its social media team to accomplish

question

All of the following are practical ideas that marketing managers should consider when setting social media objectives EXCEPT:

answer

Listen and Learn Build Relationships and awareness Promote products and services Manage your reputation Improve customer service

question

Which of the following statements about the use of social media in marketing is TRUE?

answer

Social media have the potential to revolutionize the way organizations communicate with stakeholders.

question

A company would probably NOT want to use Twitter to:

answer

Twitter is a microblog intended for short messaging

question

A Web site that allows individuals to connect with friends, peers, and business associates is called a:

answer

Social network sites

question

Of the following, who is MOST likely to be a LinkedIn user?

answer

Primarily used by professionals who wish to build their personal brands online and businesses that are recruiting employees and freelancers

question

Much of the growth in social media sites can be attributed to:

answer

Growth in new platforms such as smartphones and iPad's

question

Price is best described as:

answer

That which is given up in exchange to acquire a good or service : Cost of something (consumer POV) Primary source of profits (seller POV)

question

Which of the following statements is NOT true about price?

answer

The sacrifice effect of price The information effect of price Value is based upon perceived satisfaction

question

As a short-term pricing objective, _____ can be effectively used on a temporary basis to sell off excessive inventory.

answer

Sales maximization

question

The two types of costs a marketer needs to consider when setting prices are:

answer

The demand for the good or service The cost to the seller for that good or service

question

The difference between the retailer's cost and the selling price is the:

answer

The selling price is full price sold to customers while the retailers cost is the discounted rate at which they received the goods at (Profit?)

question

_____ determine what sales volume must be reached before the company's total revenue equals total costs and no profits are earned.

answer

Break even analysis

question

Which of the following statements describes a limitation associated with break-even analysis?

answer

More important than cost determination is the fact that simple break-even analysis ignores demand. * It is hard to know whether a cost is fixed or variable * Ignores demand

question

As a product enters the growth stage, prices generally begin to stabilize. One reason for this is that:

answer

Competitors have entered the market increasing the available supply The product has begun to appeal to a broader market Economies of scale are lowering costs and the savings passed on to consumers in form of lower prices

question

Many consumers, especially when faced with an uncertain purchase decision, think that a high price:

answer

Equates to high quality

question

Marketing managers who attempt to raise the quality image of their product by selling it at high prices are following a(n) _____ strategy.

answer

Prestige Pricing Strategy

question

Which of the following is a pricing policy whereby a firm charges a high introductory price, often coupled with heavy promotion?

answer

Price skimming

question

When a firm introduces a new product at a relatively low price because it hopes to reach the mass market, it is following a _____ strategy. The low price is designed to capture a large share of a substantial market and produce lower production costs.

answer

Penetration pricing strategy

question

A firm charging a price identical to or very close to the competition's price is using a _____ strategy.

answer

Status quo pricing

question

The practice of charging a very low price for a product with the intent of driving competitors out of business or out of a market is called:

answer

Predatory pricing

question

All of the following are tactics for fine-tuning the base price EXCEPT

answer

Base point pricing Single price tactic Value based pricing Flexible pricing Odd even pricing Leader pricing •Discounts - quantity discounts, cash discounts, functional discounts, seasonal discounts, promotional allownances, rebates, zero percent financing •Geographic pricing - FOB origin pricing, uniform delivered pricing, zone pricing, freight absorption pricing, basing-point pricing •Single Price tactic, flexible pricing, trade-ins, professional service pricing, price lining, leader pricing, bait pricing, odd-even pricing, price bundling, two-part pricing, pay what you want

question

Quantity discounts are most often used to:

answer

Attract customers who are buying in multiple units or above a specified dollar amount and encourage customer loyalty

question

A discount off the base price to customers who pay immediately, or within a specified time period, is called a:

answer

Cash discount

question

_____ are cash refunds given for the purchase of a product during a specific period.

answer

Rebate

question

Sometimes managers price their products too low, resulting in a loss of company profits. One reason this happens is that:

answer

First managers attempt to buy market share through aggressive pricing which are quickly met by competitors thus market share gained is short lived Second managers have a natural tendency to want to make decisions that can be justified objectively but lack hard data so managers make decisions based on current costs, projected short term share gains, or current competitor prices rather than long term probability

question

The term FOB is an acronym for:

answer

Free on board - a price tactic that requires the buyer to absorb the freight costs from the shipping point

question

_____ tries to get customers into the store with misleading advertising and then uses high-pressure selling to persuade the consumer to buy something else more expensive.

answer

Bait pricing

Marketing Final – DG2 – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards