marketing final exam
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| Developing Brand Equity | show 🗑
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| Services and Pricing | show 🗑
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| Multi Channel Marketing | show 🗑
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| Integrated communication and advertising/sales promotion | show 🗑
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| show | True Religion jeans are now lifestyle brand with jeans, shirts, belts, swimwear, fragrances, etc.
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| Within each product line, there are often multiple: product categories. primary packaging parts. product breadth. product assortment. private label brands. | show 🗑
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| show | Breadth (sometimes also referred to as variety) represents the number of product lines offered by the firm; Product line depth, in contrast, is the number of categories within a product line.
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| What is the difference between product line breadth versus depth? | show 🗑
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| show | To address changing consumer preferences or preempt competitors while boosting sales, to realign resources.
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| show | A brand can use: Name, logo symbols, characters, slogans, jingles and even distinctive packages.
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| value of branding for customer and marketer | show 🗑
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| One of the dangers of hiring celebrities like Mel Gibson to endorse a company’s products is that when they engage in embarrassing behavior, to the degree that they are associated with the company’s brands, their actions hurt: | show 🗑
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| show | Consumers are often less sensitive to price
Marketing costs are much lower
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| How do brands create value for the customer and the firm? | show 🗑
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| What are the components of brand equity? | show 🗑
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| show | It allows the perception of a brand with a quality image to be carried over to the new product.
It lowers marketing costs.
It can boost sales of the core brand.
The firm can spend less on creating brand awareness and associations.
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| What is co-branding? | show 🗑
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| show | brand dilution which occurs when the brand extension adversely affects consumer perceptions about the attributes the core brand is believed to hold.
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| show | Brand equity is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.
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| show | Brand repositioning or rebranding refers to a strategy in which marketers change a brand’s focus to target new markets or realign the brand’s core emphasis with changing market preferences.
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| show | Product assortment or product mix is the complete set of all products offered by a firm.
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| product lines | show 🗑
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| show | Product mix or product assortment is the complete set of all products offered by a firm.
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| show | Compatibility
Observability
Trialability
Relative Advantage
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| The __________ focuses on the rate at which consumers are likely to adopt a new product or service. | show 🗑
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| What are the five groups depicted in the diffusion of innovation curve? | show 🗑
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| What factors enhance the diffusion of a good or service? | show 🗑
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| R&D Consortia | show 🗑
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| Internal R&D | show 🗑
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| show | R&D consortia
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| show | Concept is a brief written description of the product
Customers reactions determine whether or not it goes forward
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| show | premarketing done in controlled customer group. test marketing is mini product launch to estimate demand and response
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| show | promotion, price, place
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| show | generate, test concept, design, test market the design, launch product, evaluate
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| show | Internal research and development (R&D) efforts, collaborate with other firms and institutions, license technology from research-intensive firms, brainstorm, research competitors’ products and services, and/or conduct consumer research;
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| show | because products either gain market acceptance or must exit market
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| show | Introduction, Growth, Maturity, Decline
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| How do sales and profits change during the various stages? | show 🗑
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| The marketing of services differs from product marketing because services are all of the following EXCEPT: intangible. inseparable. variable. perishable. quantifiable. | show 🗑
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| show | once plane takes off, empty seats are lost revenue
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| show | Services are intangible, inseparable, variable, and perishable.
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| show | Many of them are a blend and fall within the product-service continuum
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| show | Advertising is a big ethical issue for professional services. Tension can be
created when service providers use marketing tactics to attract clients to
their service but still attempt to maintain a perception of integrity and trustworthiness.
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| Because services like airline flights and hotel beds are perishable, many marketers attempt to match demand with supply using: | show 🗑
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| show | Marketing research: understanding customers
Evaluating service quality
Understanding customer expectations
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| Firms can close the knowledge gap by: | show 🗑
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| knowledge gap | show 🗑
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| standards gap | show 🗑
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| show | The delivery gap is the difference between the firm’s service standards and the actual service it provides to customers. This gap can be closed by getting employees to meet or exceed service standards by providing incentives and support.
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| communication gap | show 🗑
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| CREST Method of Resolving Service Failures | show 🗑
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| Why must companies worry about service recovery? | show 🗑
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| A voice-of-customer (VOC) program | show 🗑
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| zone of tolerance | show 🗑
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| Price is the ________ a consumer is willing to make to acquire a specific product or service. | show 🗑
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| show | high value
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| show | customers, costs, competition, channel members, company objectives
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| Price elasticity of demand measures consumers’: | show 🗑
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| How does one calculate the break-even point in units? | show 🗑
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| show | , people generally have become more aware of and sensitive to price
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| Which of the following is a common activity associated with logistics management? | show 🗑
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| Marketing managers often focus on ____________, while logistics managers focus on _____________, causing conflict when trying to provide value to customers. | show 🗑
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| show | streamlines distribution and affects marketing
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| show | checking and receiving merchandise.
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| show | B compete
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| show | JIT leads to reduced lead time, increased product availability, and lower inventory investment.
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| What are the different types of vertical marketing systems? | show 🗑
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| How do firms develop strong strategic partnerships with their supply chain partners? | show 🗑
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| show | prepackaged by the vendor for a specific store.
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| Electronic data interchange (EDI) | show 🗑
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| Radio frequency identification (RFID) tags are... | show 🗑
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| Vendor-managed inventory (VMI) is an approach... | show 🗑
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| show | intensive
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| show | When choosing retail partners, manufacturers must look at the basic channel structure, where their target customers expect to find the products, channel member characteristics, and distribution intensity.
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Off-price retailers offer an inconsistent assortment of brand name merchandise at low prices.
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| An intensive distribution strategy is ... | show 🗑
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| show | Disintermediation occurs when a manufacturer sells directly to consumers, bypassing retailers.
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| show | Category specialists are discount stores that offer a narrow but deep assortment of merchandise.
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| show | c the objective and task method
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| show | Designing
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| What are the different steps in the communication process? | show 🗑
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| What is the AIDA model? | show 🗑
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| What are the different elements of an IMC program? | show 🗑
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| show | Competitive parity, Percentage-of sales, affordable
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| show | publicity isn't paid
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| The three objectives of advertising are to: | show 🗑
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| show | (1) identify their target market, (2) set advertising objectives, (3) set the advertising budget, (4) depict their product or service, (5) evaluate and select the media, (6) create the ad, and (7) assess the impact of the ad.
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| show | Publications, video and audio, annual reports, press kits, news releases, speeches, event sponsorships, electronic media
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| show | Coupons, deals. Premiums. Contests, sweepstakes, samples, loyalty programs, POP displays, rebates, product placement
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| show | A pull strategy is a strategy in which the goal is to get consumers to pull the product into the supply chain by demanding it.
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| show | A push strategy is designed to increase demand by focusing on wholesalers, distributors, or sales people.
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| show | An order getter is a salesperson whose primary responsibilities are identifying potential customers and engaging those customers in discussions to attempt to make a sale.
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| show | An order taker is a salesperson whose primary responsibility is to process routine orders or reorders or rebuys for products.
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| show | continually find new and potentially profitable customers
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| show | Generate and qualify leads, preapproach, sales presentation, and overcoming reservations, closing the sale, follow-up.
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| show | It helps the customer become educated about the product or get valuable advice. Sales people can also simplify the buying process and therefore save the customer time and hassle.
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Created by:
mxer657