Marketing exam 3 Review
True or False: A market is considered elastic if a change in price does not produce a substantial change in demand.
False
True or False: A price elasticity calculation of < -1 is considered inelastic.
False
You open a new high-performance workout gym. Research has shown that customers want to be able to pay one price and go to the gym as much as they would like. It would be most strategic of you to offer which type of pricing?
Flat-rate pricing
Your software company sells online subscriptions to musicians. The customers pay $10 a month and can download unlimited sheet music. This is an example of which type of pricing?
Flat-rate pricing
A makeup brand offers a free, reusable tote for purchases over $50. This is an example of which of the following?
Gift premium
Which of the following is NOT a part of Facebook's personality?
Growing rapidly, with over 2.6 billion new app installs around the world
The on-page SEO factor that relates to the length of time it takes a web page to appear in a browser is:
Page load time
What is the result of effective Search Engine Optimization?
Pages on your website rank higher on search engine results pages
Toby sees an ad from Staples that the student union charges 20% more for the same pencil than Staples. What purpose of advertising does this most relate to?
Persuade
In which of the following platforms is there a notable demographic difference with more women using the platform than men?
Which of the following is NOT an example of direct marketing?
Press release
A makeup brand is holding a buy-one-get-one sale on all moisturizers and lotions. Which sales promotion is this an example of?
Price promotion
Which of the following is and example of bundle pricing?
Purchasing a value meal at a restaurant that included an entree, side and a drink
Harding's shop is trying to get rid of some camera battery packs for last year's model. He decides the best way to do this is to include not just the current price, but the original price to indicate how much cheaper they are now. What pricing technique is this?
Reference pricing
Which step of creating a PPC ad campaign is brainstorming and compiling a list of what should trigger the ad to display?
Research and select keywords
A contest can also encourage other behavior, such as which of the following?
Sharing information
If a marketer sells a product in a market that is price elastic, then price increases will result in:
Significant decrease in demand, decreasing overall profits
Your company is selling living room furniture. To purchase furniture, customers choose which individual pieces that they would like to order. They then choose which features they would like, such as a hide-a-bed option for the couch or a storage area included in the chaise lounge. Each item and feature is an extra charge. This is an example of which type of pricing?
la carte pricing
You are a marketer looking to target college graduates and sell B2B. What platform should you use to promote your products?
linkdeIn
According to the text, which of the following is NOT a benefit of direct marketing?
Allows marketers to lobby for the good of the company
Although the social media platforms have different overall usage numbers, the age distribution for each platform is similar.
false
True or False: CPI, or Cost-per-Impression, is the amount of money an advertiser pays when someone clicks on their ad.
false
True or False: Every time an impression occurs, it means that a person is actively watching or listening to the ad.
false
True or False: It is more difficult to communicate an emotional message with a television ad because the audience is too broad.
false
True or False: It is not necessary to monitor keywords, brands, and hashtags on social media if a company's marketing plan is solid.
false
True or False: Promotion focuses on internal communication, rather than sending messages outside of the company.
false
True or False: The SUCCESS model is used by marketers to create and organize their sales promotions.
false
True or False: The lifespan of a tweet is said to be two to three months.
false
Cost-based pricing would not be particularly strategic for which of the following:
Artists, because the value of the materials is often a very small portion of the total value they put into a given project
True or False: Display ad networks, like the Google Display Network, support multiple sizes of display ads.
True
True or False: It's important to perform SEO because few people look past the first page of search results.
True
True or False: One of advertising's functions is to remind customers that a product exists.
True
True or False: Online display ads tend to have lower Click-Through-Rates than search ads.
True
True or False: Pinterest is a visual scrapbook where users pin and organize items from the web.
True
True or False: Pinterest is the only platform that is forward-looking.
True
True or False: Promotional strategy starts with the customer in mind. A good marketer would keep the customer in mind while making promotion strategy decisions.
True
True or False: Social media monitoring is also known as social listening.
True
True or False: Telemarketing and television shopping channels are examples of direct marketing.
True
True or False: The ranked results of a search are provided to a user on a Search Engine Results Page.
True
True or False: TikTok is designed to allow content to go viral quickly.
True
True or False: Value is what the product or service is worth to a consumer.
True
True or False: With direct marketing, the goal is to receive a direct response from the customer rather than selling in a retail location.
True
The on-page SEO factor that relates to including descriptive words and keywords in a page's address is:
URLs
Which of the following best describes social media marketing?
Using social media platforms strategically to market a person, product, company, organization, or idea
Jane hates cats and will never own a cat. She sees an advertisement for cat treats. To the marketers at the cat treat company, Jane would be considered part of their advertising's ____________.
Waste coverage
What is the wedding tax phenomenon?
When a product or service is priced higher because it is for a wedding
Jane is looking to advertise her bird-watching store. Jane does not need mass marketing and she just wants to reach bird watchers. Since this is a specific topic, she should look at using what advertising medium?
bird-watching magazine
You run a boutique and decide to create a price promotion. Which of the following would be the smartest decision based on what we know about sales promotions?
A 25% sale for Labor Day weekend only
Odd-even pricing is when:
A marketer sets the price of a product just a few cents or dollars under an even number so that the customer perceives it as being much lower than it actually is
Which of the following is NOT one of the characteristics of Pinterest?
Centers around those seeking employment and making business connections
What is a bit of data that gets stored on your computer when you visit certain websites?
Cookie
When creating a pricing strategy from scratch, which is usually the best way to figure out the price floor for a product or service?
Cost to the company
Which of the following is NOT a psychological pricing strategy?
Cost-based pricing
A food delivery service aimed at college students is considering a new sales promotion. Which sales promotion would likely have the most usage?
Digital coupon
A real estate agent directly mails you a postcard encouraging you to use her service. This could be an example of:
Direct marketing
All of the following are best practices for running PPC ad campaigns, except:
Don't monitor campaign results
Any time you fly on a plane, you're surrounded by people who have paid different prices to go to the same place. This is an example of:
Dynamic pricing
Customers often use price as an indicator of a product or service's quality. This means:
They may take high price as an indicator of the product's high quality, rather than as an indicator that the product is simply overpriced
True or False: A break-even quantity is the number of units a company needs to sell at a certain price in order to cover fixed costs.
True
Phyllis is a saleswoman with Paper Suppliers Inc. Stanley works at a newspaper who needs to purchase paper in bulk for the year. After connecting with Stanley on Linkedin, Phyllis asks for Stanley's availability to set up a sales meeting. Setting up a meeting would be considered a part of which stage in the personal selling process?
approach
What do SEO experts agree has the most impact on a page's rank?
off-site seo
Who are the people or organizations that own the websites that accept advertising?
publishers
True or False: A PPC ad that is never clicked on will not cost the advertiser any money.
true
What is the feature of a landing page that represents what a marketer hopes a visitor will do?
Call-to-Action
True or False: A price is what a product or service is worth to the customer.
False
True or False: At least 90% of your posts should be straight sales pitches.
False
True or False: Billboard ads are a good choice for personal selling because everyone sees them and it gives potential customers a lot of detail about the product being advertised.
False
True or False: Frequency is the number of people who are exposed to an ad.
False
True or False: Promotion focuses on internal communication, rather than sending messages outside of the company.
False
True or False: Sponsoring events and giving back to the community are examples of direct marketing.
False
True or False: There are three pricing models that are typically used as a structure on which to build a pricing framework: cost-based, value-based, and price-based.
False
True or False: la carte pricing simply means purchasing items in bulk to gain a discount.
False
In high-risk purchases, cheap pricing can lead to drastic reduction in demand. Why is this?
In high-risk purchases, need for service quality outweighs the need for a cheap price
According to the text, which of the following is NOT a recent trend in ad spending?
Increasing out-of-home ad spending
While driving on the highway, Kelly notices a billboard for a product that she had not previously heard of. Kelly is not sold on the product, but will google it later. What purpose did this advertisement have for Kelly?
Inform
Social media platforms are built around which of the following?
Interaction and Community
A consumer often has a price in mind they believe is fair based on their knowledge or experience. What is this figure called?
Internal reference price
How does bundle pricing make a purchase decision easier for a customer?
It adds value for a customer by offering two or three package deals instead of tens or hundreds of individual options
You're selling the product PuppyChowChow dog food to dog owners everywhere for $35 a bag. You've found the industry to have high price elasticity and a few competitors. Which of the following would be the most strategic move for the short term?
Keep the price stable to maintain sales
What is the destination on a website visitors are directed to when they click an ad?
Landing Page
You are a marketer looking to target college graduates and sell B2B. What platform should you use to promote your products?
You would like to get customers into your ToySnap store (a store that sells breakable toys for kids) during the Black Friday sales event. You strategize that if you offer two or three breakable toys at a really low prices even below what you paid for them it will get customers to shop there. This would be an example of which psychological pricing strategy?
Loss Leader
Office Depot often offers popular items for one penny during back-to-school sales. What strategy is this?
Loss leader pricing
----is when a company introduces a product at a low price to gain market share.
Market Penetration
_____ is when a company introduces a product at a low price to gain market share.
Market penetration
Phyllis is a saleswoman with Paper Suppliers Inc. Stanley works for a publisher who needs to purchase paper in bulk for the year. Phyllis is currently showing Stanley all of the information and benefits of buying from Paper Suppliers Inc. and addressing his concerns regarding a potential purchase. Which stage in the personal selling process is this an example of?
Presentation
Kleiner-Freeman Motorcycles is selling the latest model of their flagship motorcycle for nearly twice as much as their older model from five years ago. What pricing strategy is this?
Skimming
Which of the following refers to websites and applications that are platforms where users can share content and information and interact with each other?
Social media
Sales promotions help to balance _____ and also decrease risk for the consumer.
supply and demand
True or False: According to the SUCCESS model, keeping a message simple is one way to break away from the promotional clutter.
true
True or False: Content for landing pages should align very closely with the look and messaging of the ads they support.
true
True or False: Facebook has a large user base made up of a wide age demographic.
true
True or False: Grammar and spelling are factors Google considers when ranking a page for search.
true
True or False: Pinterest is well-suited for things that can be planned for.
true
True or False: Sales promotions such as coupons and free samples reduce the risk of initial product purchase for customers.
true
True or False: Search engine providers make regular changes to their search algorithms.
true
You'd like to market your hired car service on social media. You'd particularly like to be on a platform where users could easily communicate with you for any customer service questions or complaints. Which platform would be the best fit for this?
Jane hates cats and will never own a cat. She sees an advertisement for cat treats. To the marketers at the cat treat company, Jane would be considered part of their advertising's
waste coverage