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Marketing final
| Question | Answer |
|---|---|
| __________ involves evaluating each market segments attractiveness and selecting one or more segments to enter. | Market targeting ? |
| Regardless of the size of the budget, to succeed, advertising must engage consumers and __________. | communicate well |
| The first task for a communicator in preparing marketing communications is to __________. | identify the target audience |
| Engaging customers and managing profitable customer relationships is the simplest definition of ________. | marketing |
| Manny is willing to exert special effort to find a valuable and rare 1960 baseball card featuring the famous New York Yankee, Mickey Mantle. This baseball card would be classified as a(n) ______ product. | specialty |
| What is the first thing a company does when analyzing competitors? | Identify the company's competitors |
| __________ uses buyers' perceptions of value as the key to pricing. | Customer valuebased pricing |
| What is the goal of integrated marketing communications? | To build clear, consistent, and compelling company and brand messages |
| To build clear, consistent, and compelling company and brand messages | To create superior customer value |
| What is positioning? | Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers |
| Retailers such as Kohl's and JC Penney charge higher prices on an everyday basis, but run frequent promotions to lower prices temporarily on selected items. This is an example of __________. | high-low pricing ? |
| Despite its potential strengths, public relations is occasionally described as a marketing stepchild because of all of the following reasons EXCEPT __________. | PR practitioners are interested in customer engagement and relationships. |
| Internal factors that affect pricing include ________. | the company's overall marketing strategy, objectives, and marketing mix ? |
| Mary is hungry and chooses to go to McDonalds for a salad. Mary's hunger is a _____ and her choice of a salad is a _____. | need; want |
| When consumers engage in ________ buying behavior, they go through a learning process, so it is most important that marketers understand information gathering and evaluation behavior. | complex |
| Red Bull has created "The Wings Team," a group of brand ambassadors who connect with fans at events and through content showing their extreme and active lifestyles. This is an example of using __________ as a personal communication channel. | buzz marketing |
| Blood donations to the Red Cross are considered __________ products. | unsought |
| Which of the following forms of products are considered as services? | Airline travel |
| __________ advertising is more suitable for mature products. | Reminder |
| ________ is the promotion mix tool that consists of any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor. | Advertising |
| The amount of money charged for a product or service is its ______. | price |
| Which of the following statements about market offerings is correct? | Market offerings are a combination of products, services, information, or experiences. |
| The five As of the customer journey are ________. | awareness, appeal, ask, act, advocacy |
| A winning strategy for competitive positioning in which the company concentrates on creating a product line and marketing program so that it comes across as the class leader in the industry is referred to as __________. | differentiation |
| Materials and parts, capital items, and supplies are services or groups of _____ products. | industrial |
| A brand's __________ involves the set of benefits or values it promises to deliver to consumers. | value proposition |
| What is the purpose of a value proposition? | To differentiate and position a market offering in the marketplace |
| Many marketers today create, inspire, and share brand messages and conversations with customers across a mix of communication channels. In this regard they view themselves as __________. | content marketing managers |
| How is price determined using cost-plus pricing? | The price is set by adding a standard markup to the cost of the product. |
| Which of the following statements does NOT describe price? | Price is the only element in the marketing mix that represents costs. |
| __________ is the promotion mix tool that consists of short-term incentives to encourage the purchase or sale of a product or service. | Sales promotion |
| Luxury automobile manufacturers typically add quality, services, and other features to differentiate their offers and thus support their higher price. This is an example of __________. | value-added pricing |
| The primary goal of consistently delivering superior value is to ________. | build profitable customer relationships |
| When a firm starts up or buys a business outside of its current product line and markets, it is pursuing which growth strategy? | Diversification |
| The step in designing a customer valuedriven marketing strategy in which a company divides a market into distinct groups of buyers is known as market __________. | segmentation |
| Mission statements should be defined in terms of satisfying basic customer needs. In other words, they should be __________. | market oriented |
| __________ and __________ are core PR strengths and that plays well into the use of online, mobile, and social media. | __________ and __________ are core PR strengths and that plays well into the use of online, mobile, and social media. |
| Which of the following statements about setting an advertising budget is correct? | New products typically need relatively large advertising budgets to build awareness and to gain consumer trial. |
| ___________ is at the core of any marketing strategy. | Customer value and relationships |
| Services cannot be seen, tasted, felt, heard, or smelled before they are bought. In other words, services are __________. | intangible |
| Specific promotional tools used in ________ include stories, sponsorships, events, and webpages. | public relations ? |
| Typically, consumers put in minimum time and effort when buying products such as laundry detergent, candy, and fast food. These types of goods are classified as __________ products. | convenience |
| To which category of the marketing communication mix do sales presentations, trade shows, and incentive programs belong? | Personal selling |
| On a break-even chart, the break-even volume is located __________. | at the intersection of total revenue and total costs |
| Marketing management must first __________ when developing an advertising program. | set advertising objectives |
| Which of the following correctly defines a product? | A product is anything offered to a market that might satisfy a need or want. |
| Word-of-mouth influence and buzz marketing are both examples of __________. | personal communication channels |
| Advertising objectives can be classified based on their primary purpose. What are the three purposes? | To inform, persuade, or remind |
| What does a company do to start the strategic planning process? | Define its overall purpose and mission. |
| Which of the following correctly defines the consumer market? | Individuals and households that buy goods and services for personal consumption |
| ________ consists of activities designed to engage and build good relations with the company's various publics. | Public relations |
| One important consideration in using a differentiated targeting strategy is that ________. | it can increase costs |
| The key element of successful marketing today is to __________. | create value |
| The basic concept underlying marketing is that of __________. | customer needs |
| New, premium movie theaters offer features such as online reserved seating, high-backed leather executive chairs with armrests and footrests, for which they charge a higher price. This is an example of which type of pricing? | Value-added pricing |
| According to the text, which customer and competitor orientation should companies today practice? | Market-centered |
| Every great advertising campaign starts with a unique __________. | brand message |
| Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is considered __________. | advertising |
| Which factor sets the floor on setting a product's price? | Product costs |
| What does a market segment consist of? | A group of consumers who respond to the marketing effort in the same way |
| Which targeting strategy focuses on common consumer needs, as opposed to different needs? | Mass marketing |
| The first step to a successful value-driven marketing strategy is to determine whom to serve with a market offering. To make this decision, marketers engage in which two activities? | Segmenting and targeting |
| When does persuasive advertising become comparative advertising? | When a company directly or indirectly compares its brand to others |
| To bring the message strategy to life in a distinctive and memorable way, advertisers develop what is known as the "big idea". This big idea becomes the __________. | creative concept |
| What is benchmarking used for? | To assess competitors' strengths and weaknesses ? |
| In the content of a message, marketers often use ________ appeals such as joy, love, humor, fear, and guilt. | emotional |
| A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your colleague? | Carefully consider the degree of competition and ease of entry into the segment. |
| Which of the following strategies would be utilized by market challengers? | Observe what has made the market leader successful and improve on it |
| In the communication process, putting thought into symbolic form is called __________. | encoding |
| What is the key idea in niching? | Specialization |
| What are the three characteristics that advertising appeals should have? | To be meaningful, to be believable, and to be distinctive |
| It is common to see product placementsembedding brands as props within other programming, such as TV shows or movies. Product placements are a form of __________. | branded entertainment |
| What is the first step in a value-based pricing strategy? | Assess customer needs and value perceptions. |
| If a company focuses more on customer developments in designing its customer strategies than on competitors, it is ________. | customer-centered |
| ________ is the promotion mix tool that consists of short-term incentives to encourage the purchase or sale of a product or service. | Sales promotion |
| Which of the following statements about segmentation is true? | Different segments might require different marketing strategies or mixes. |
| Following the marketing concept means that firms are _______. | customer-driven |
| What is the stage in competitor analysis in which marketing management tries to find out competitors' objectives? | Assessing competitors |
| A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your colleague? | Carefully consider the degree of competition and ease of entry into the segment. |
| In today's global environment, everything and everyone are digitally connected to everything and everyone else. The term used to describe this is __________. | the Internet of Things |
Created by:
amandasweeney11
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