Exam 3 for marketing

About what % of buying decisions are made in a store? (ex. Supermarket) A) 5% B) 7% C) 10% D) 20% E) 75%

E) 75%

What is the impact of a TV ad seen by 100,000 households an average of twice within a given time period? A) 200,000 B) 50,000 C) 100,000 D) Impact cannot be determined without knowing the effectiveness of the ad E) Impact cannot be determined without knowing the specific time frame

A) 200,000

Which of the following is a correct statement? A) Abrasive advertising appeals are increasingly being used in the U.S. B) Offering premiums is less effective than offering rebates C) Offering rebates is less effective than offering premiums D) One issue sponsorship example mentioned in class is Sprint's sponsorship of the Tony Awards E) Loss leader pricing might be used by Piggly Wiggly

A) Abrasive advertising appeals are increasingly being used in the U.S.

Suppose research shows a Coca Cola marketing manager that she needs more push in promoting Coke products? Which of the following would you recommend? A) Additional advertising B) A bigger presence at conventions and trade shows C) Increase use of coupons D) Decrease use of coupons E) Add brand extensions

A) Additional advertising

According to the text, in order to successfully teach your customer, you have to_________. A) Challenge their assumptions B) Establish dominance C) Become their friend D) Be a master of everything E) Always be closing

A) Challenge their assumptions

Which of the following is a key to successful mobile marketing according to the text? A) Credibility B) Location C) Interaction D) Conversation E) All of the above

A) Credibility

According to the book, about 90% of all businesses invest in which of the following? A) Inbound Marketing B) Content marketing C) Paid search ads D) SEO E) All of the above

A) Inbound Marketing

What type of pricing strategy should be favored when price elasticity is low? A) Skimming B) Penetration C) Flexible D) Psychological discounting E) Mark up

A) Skimming

According to the text, one of the biggest advantages to using social media for building relationships with B2C consumers is which of the following? A) Ability to use video B) Allows 24/7 "around the clock" response C) Nearly 100% market penetration D) Higher effectiveness E) Low cost

B) Allows 24/7 "around the clock" response

Staying present in the moment, focusing on what the client is saying, and sustained concentration are involved in which of the following? A) The teaching part of the sales process B) Effective listening C) Requirement for designing a creative advertisement D) The approach stage of the sales process E) Making a sales call

B) Effective listening

Two current trends are that consumers are buying more from firms that are ____ &______? A) Smaller, located in the same continent B) Ethical, providing "experiences" C) Local, popular with younger people D) Using humor in advertising, using prestige pricing E) Using AI sales robots, named after fruit (Apple, Banana Republic, Lululemon, etc.)

B) Ethical, providing "experiences"

Which of the following would be involved with B2B, but never with B2C marketing? A) Elastic demand B) Inelastic demand C) Joint demand D) Derived demand E) None of the above

B) Inelastic demand

Which of the following is a correct statement? A) In the teaching phase of the sales process it's important to explore context and constraints B) It is vital that after a salesperson offers a solution, the nature of the solution is agreed to by the customer C) Currently ad spending in traditional media is less than half what is spent on digital advertising D) Studies have shown it is more costly to keep existing customers than obtain new ones E) All of the above

B) It is vital that after a salesperson offers a solution, the nature of the solution is agreed to by the customer

Suppose you created a new innovation, a lip balm that kept lips moist and protected far longer than anything on the market today. Relative to the competition, which of the marketing mix combinations would you choose to position your product as the best lip balm? A) Lower price, less advertising, more selective distribution B) Less advertising, more intensive distribution, higher price C) More intensive distribution, higher price, more advertising D) More selective distribution, less advertising, higher price E) More advertising, higher price, more selective distribution

B) Less advertising, more intensive distribution, higher price

Which of the following is a correct statement? A) The first attempt to ask a prospect to buy is called the trial close B) One of the roles in consultative selling is "the terminator" C) The best objections are the ones unspoken D) Relationship selling is consultative E) Planning is the first stage in the customer relationship selling process

B) One of the roles in consultative selling is "the terminator"

A film whose industry is in the growth stage of the product life cycle is most likely to use which of the following? A) Sampling B) Persuasive advertising C) Trade sales promotion D) Countertrade E) Anti-Aging Skin Lotion

B) Persuasive advertising

For salespeople designing a customized solution for customers, which of the following is correct? A) The salesperson should never depend on his/he own firm for making special rules for the customer B) The salesperson should start with her/his firm's own unique strengths C) The main goal should be to design a profitable solution, not satisfy the customer's need D) The salesperson should always agree with the customer's perspective which is always correct E) Price should always be a main focus

B) The salesperson should start with her/his firm's own unique strengths

Advertisers on social media should do which of the following? A) First, map out SMART objectives B) Use the same KPI's for each medium C) Make one medium dominant D) Use a balanced budget among media E) Avoid depending on vanity metrics

B) Use the same KPI's for each medium

Given the strategy of promotional/persuasive communication, which is the last recommended step on a sales call? A) Thank the customer for their time B) Gain the attention of the customer by demonstration C) Find out if the customer is satisfied D) Ask the customer to buy E) Hang up

C) Find out if the customer is satisfied

Compared to B2C, what are the characteristics of number of buyers, buying influences and key promotion method for B2B? A) Many, single, personal selling B) Fewer, multiple, personal selling C) Many, single/multiple, advertising D) Fewer, single/multiple, advertising E) Fewer, single, personal selling

C) Many single/multiple, advertising

Which of the following is a characteristic of relationship selling? A) Non adversarial B) Direct C) Persistent D) Prestigious E) All of the above

C) Persistent

According to the text, the ultimate goal in "learning" from your potential customer is which of the following? A) TO build a relationship B) TO analyze customer problems C) To qualify whether or not the firm represents a potential opportunity D) To design a customized solution E) All of the above

C) To qualify whether or not the firm represents a potential opportunity

What are the two goals of viral marketing for consumers according to the book? A) To feel an emotion and forward the message B) To gain customer satisfaction and get consumers to spread positive WOM C) To take action and forward the message D) To feel an emotion and to take action E) To infect the consumer and to have the consumer "die or buy"

C) To take action and forward the message

If you were to being a content creation process for digital marketing, which of the following should be your starting point? A) Social media B) Email C) Website D) YouTube E) Earned Media

C) Website

If a firm like a coffee shop decides that it really needs to improve customer service to monitor customers in real-time situations, upon which of the following media should they focus their attention? A) TikTok B) Facebook C) Twitter D) All of the above E) None of the above ( all social media need to be monitored for customer service issues)

D) All of the above

According to class discussion, any distraction that prevents a communication message from being properly understand is called __________. A) Interferon B) Encoding C) Decoding D) Noise E) None of the above

D) Noise

Which of the following is the correct statement? A) A retail sales position is one of the most prestigious jobs there is B) As dependence increases, selling moves from transaction to partnering to relationship selling C) One in 50 U.S. workers are in "sales" D) One reason selling skills are required in non-selling positions is because leadership requires persuasion E) The consultative sales process involves just the salesperson telling a client how to improve business

D) One reason selling skills are required is non-selling positions is because leadership requires persuasion

Which of the following is a correct statement according to the "teaching" sales pitch? A) Offering your solution is the most difficult part of the process B) The first step is o lay out the business case C) The second step is to lay out the business case D) One should stay away from offering the solution until the nature of the solution is agreed to E) Making a joke out of a problem is one way to make an emotional connection with the customer

D) One should stay away from offering the solution until the nature of the solution is agreed to

According to the book, which of the following should be used to build relationships in both the B2B and B2C worlds? A) Advertising B) Social Media C) Sales promotion D) Personal selling E) Public relations

D) Personal selling

According to the text, which of the following is perhaps the most important phase of the sales process? A) Listening to the customer B) Closing the sale C) Making a good first impression D) Post-sales service E) Getting out all the important issues

D) Post-sales service

According to the text, which of the following is a correct statement about mobile marketing? A)There are numerous "mobile-only" tools that marketers can use B) Marketers have never had a tool as powerful as mobile to ascertain their customers' behavior C) Consumers check their devices between 150-200 times each day D) Consumers are rarely without their mobile devices E) All of the above

E) All of the above

One way to get people to like you is which of the following? A) Laugh B) Control your anger C) Become genuinely interested in other people D) Trust your first impression E) All of the above

E) All of the above

One role of consultative selling is ________. A) The organizer B) Team player C) Long-term ally D) The business strategist E) All of the above + "The Terminator"

E) All of the above + "The Terminator"

In B to B personal selling, which of the following is the most important? A) Surpassing sales quotas B) Planning C) Making the sale D) Empowerment E) Building/improving customer relationships

E) Building/improving customer relationships

Which of the following best represents the required relationship personal selling attitude? A) Don't accept no B) Friendliness is the top priority C) Persistent persuasion D) Always be closing (ABC) E) Helping

E) Helping

Advertising that is paid for and created by the advertiser, but is supposed to look like digital content is called ________ advertising. A) Reminder B) Informative C) Outbound D) Sponsored E) Native

E) Native

Which of the following is a correct statement? A) What distinguishes B2B from B2C is the nature of the product B) One type of foundation goods are farm products C) Gifting the talent never works D) Component parts require additional processing E) One type of entering goods are raw materials

E) One type of entering goods are raw materials

Which of the following two promotional methods have the disadvantage of no control over/consistency of message? A) Consumer sales promotion/advertising B) Personal selling/lobbying C) Advertising/personal selling D) Trade sales promotion/ advertising is foreign markets E) Publicity/ personal selling

E) Publicity/ personal selling