Marketing Exam 4
Which of the following are true for successful social media?
- "active receivers" are ideal - the goal is to reach "influentials"
Which of the following are considered part of the promotional mix?
- Advertising - Direct Marketing - Sales Promotion
Which of the following are performance measures linked to outputs or revenues?
- Fans - Unique visitors - Click-through rate
What are the two factors used by Kaplain and Haenlein to classify social networks for marketers?
- Media Richness - Self-Disclosure
Which two of the following would be considered part of the feedback loop in the communication process?
- a consumer purchases a used car as a result of the interaction with a salesperson - a retailer attributes an increase in sales to its purchase of advertising in Sunday's paper
Interest
- an increase in the consumer's desire to learn about some of the features of the product or brand
In which of the following ways are social and traditional media alike?
- both have the ability to reach either large or niche audiences.
Disadvantages of Personal Selling
- flexibility - Different salespeople can change the message so that no consistent communication is given to all customers. - The high cost that comes with it is probably its major disadvantage. - On a cost-per-contact basis, it is generally the most expensive of the five promotional elements.
For a brand manager, which of the following are benefits of using youtube?
- launching a video is free; you just pay for production - users interested in your product can easily find your message there
Which of the following are advantages of personal selling?
- reduction in wasted coverage - Ability to modify the message based on immediate feedback
Awareness
- the consumer's ability to recognize and remember the product or brand name
Trial
- the consumer's actual first purchase and use of the product or brand
Adoption
- through a favorable experience on the first trial, the consumer's repeated purchase and use of the product or brand
Which two of the following are recommendations for brand managers in the social media environment?
- watch for opportunities to manage "luck" - encourage a campaign to go viral to maximize the opportunity
Imagine that a firm sends out a message in the form of a print advertisement for a product. Which of the following elements is most likely to contribute to receivers decoding the message differently?
- whether or not the receiver is a user of the firm's product
Which of the following should be assessed by a brand manager in the selection of social media networks for marketing purposes?
-The characteristics of the visitors to the website - The number of daily visitors to the website
Purchase Frequency
How often the product is bought
Appearing in search engine results without paying it comes from...
Organic Searches
Spiders
Search engine programs that travel trawl through websites
Context
Site's layout and visual design
Forgetting Rate
The speed with which buyers forget the brand without advertising
User-Generated Content (UGC)
The various forms of online media content that are publicly available and created by end users
Communication
The way the site enables site-to-user, user-to-site, or two-way communication
Community
The ways that the site enables user-to-user communication
Guerilla Marketing
Using unconventional tools to gain maximum results from minimal resources
Straight Commission Compensation
a salesperson's earnings are directly tied to the sales or profit generated.
Advertising
any paid form of non-personal communication, about an organization, a product, a service, or an idea by an identified sponsor.
Determining how to convey a message is part of...
creative strategy
Consultative Selling
focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution.
Transformational Ads
generally want the audience to visualize themselves as being in the situation portrayed, gaining a positive emotional outcome by using the brand.
Integrated Marketing Communication (IMC)
the coordination of all promotional activities to provide a consistent message across all audiences.
the most used version of micro-blogging
Salesforce automation
the use of these technologies to make the sales function more effective efficient.
Inside order takers (salesclerks)
typically answer simple questions, take orders, and complete transactions with customers.
Urgency close
used to commit the prospect quickly by making reference to the timeliness of the purchase: "the low interest financing ends next week" or "that is the last model we have in stock"
Cookies allow companies to track which of the following?
- A user's visit to its website - A user's visit to other websites
Which of the following are factors that are commonly considered in the initial selection of media?
- the product attributes - the cost - the media habits of the target audience
An advantage of direct marketing is that it offers access to _________________ beyond the local level.
Market
Public Relations
Obtaining favorable publicity, building corporate image, handling rumors and generally communicating with the firm's publics
Commerce
Site's capabilities to enable commercial transactions
The final step in advertising campaign management is to measure...
effectiveness
Which of the following was recently added by Facebook for mobile devices?
email marketing
Need-Satisfaction presentation
emphasizes probing and listening by the salesperson to identify the needs and interests of prospective buyers.
Account Management Policies
specifying whom salespeople should contact, what kinds of selling and customer service activities should be engaged in, and how these activities should be carried out.
Missionary Salespeople
support the selling effort but do not directly try to make a sale
Decoding
the process by which the receiver takes a set of symbols and transforms them back to an idea
When a group of consumers are shown an ad and asked if they remember seeing it before, and if so, how much of it they read previously, what is being tested?
their aided recall
What are the qualities of promotional objectives?
1. Be designed for a well-defined target audience 2. Be measurable 3. Cover a specified time period.
Evaluation
- the consumer's appraisal of the product or brand on important attributes
What are the stages of the hierarchy of effects?
-Awareness -Interest -Evaluation -Trial -Adoption
Workload Approach
A common way to determine needed sales force size
Widget
A module that connects a user to a source of information
Determing an advertising budget by considering what competitors spend is called:
Competitive Parity
Personal Selling Process
1. prospecting 2. preapproach 3. approach 4. presentation 5. close 6. follow-up
Canned Sales Presentation
a memorized, standardized message conveyed to every prospect.
Straight Salary Compensation
a salesperson is paid a fixed fee per week, month, or year.
Blogs
a way to provide fresh updates on a particular topic. Generally, users must subscribe to these to automatically receive them
Stimulus-response presentation
assumes that given the appropriate stimulus by a salesperson, the prospect will buy.
Formula selling presentation
based on the view that a presentation consists of information that must be provided in an accurate, thorough and step-by-step manner to inform the prospect.
What's the main purpose of a promotional corporate web site is to:
build customer goodwill
Brand managers can use Facebook's sponsored stories by...
buying this form of advertising to increase traffic to its Facebook page
Brand managers assess the focus of a social media website and its visitors primarily to...
choose one or more methods that will generate increased sales and profits.
When a salesperson opens a phone book and calls a business that could potentially be a customer, she is generating leads through:
cold canvassing
Combination Compensation Plan
contains a specified salary plus a commission on sales or profit generated.
Territorial Organizational Structure
each salesperson is assigned a specific geographical area which often produces organizational efficiencies but the salesperson generally will not develop in-depth product knowledge since they deal with so many products.
Each salesforce automation application is designed to...
ease administrative tasks and free time for salespeople to be with customers
Assumptive close
entails asking the prospect to consider choices concerning delivery, warranty, or financing terms under the assumption that a sale has been finalized.
A _____________ list (database) is generally more reliable than an external list bought somewhere.
house
Adaptive Selling
involves adjusting the presentation to fit the selling situation, such as knowing when to offer solutions and when to ask for more information.
Search engine optimization
involves altering a website so that it will place high in search engine results
Trial close
involves asking the prospect to make a decision on the purchase: "would you prefer the blue or gray model?"
Interactive marketing
involves two-way buyer-seller electronic communication in which the buyer controls the kind and amount of information received from the seller.
In contrast with the traditional marketplace is the ________________, which utilizes as internet-enabled digital environment to provide the forum for marketing exchanges.
marketspace
Direct marketing usually seeks a direct immediate and _______________ consumer response.
measurable
Disadvantages of Direct Marketing
most forms require a comprehensive and up-to-date database with information about the target market. Developing and maintaining the database can be expensive and time-consuming. In addition, growing concern about privacy has led to a decline in response rates among some customer groups.
Which of the following presentation formats is most consistent with the marketing concept and relationship building?
need-satisfaction
Web 2.0 is referred to as such because...
new functionalities exist to make possible a high degree of user interactivity
Sales Promotion
often stimulates sales for its duration, but gains are often temporary and sales drop off when the deal ends.
In the growth stage of the PLC, advertising often becomes more...
persuasive in tone
A sales quota contains a specific sales goal...
pertaining to a stated time period
Because customs dictate appropriate business protocol, the ___________________ stage of the personal selling process is critical in international sales.
pre approach
Order taker
processes routine orders or reorders for products that were already sold by the company. - primary responsibility is to preserve an ongoing relationship with existing customers and maintain sales
Direct marketing is a powerful tool to help build customer_________________
relationships
The first step in designing an advertising campaign is to gather...
research inputs
The use of technologies like the computer and the internet to make the sales function more effective is known as:
salesforce automation
Order getter
sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers' use of a product or service.
With the need-satisfaction presentation format, the salesperson...
tailors the presentation to highlight specific benefits that are valued by the prospect.
Which part of the sales plan involves specifications for whom salespeople should contact and what kinds of selling and customer service activities should be engaged in?
Account management policies
Interstitial Ads
Ads that appear between page changes
Social media offers consumers less privacy and anonymity than does traditional media. Why is this a concern to consumers?
Consumers may fear that unethical outsiders will gain access to their information
Connection
Degree that site is linked to other sites
Advertising appeals may be meaningful, believable, and:
Distinctive
Product Placement
Having a brand shown prominently in movies and TV shows
Buyer Turnover
How often new buyers enter the market to buy the product
Which of the following is TRUE of Facebook?
It hosts other social networks like StuffDOT, which provides a venue for sharing that results in rewards.
Mobile Marketing
Marketing activity conducted through several internet networks to which consumers are continuously connected using a device like a smartphone
Getting the right message to the right audience is determined by
Media strategy
Transit advertising
Messages on the interior and exterior of use, subway, and light rail cars, and taxis
Setting a budget based on what should be spent to obtain a desired outcome is called:
Objective and task
When a Merrill Lynch stockbroker gathers information about a prospect's discretionary investment objectives, and preference for discussion brokerage services over the telephone or in person, what stage in the personal selling process is he in?
Preapproach
What does personalization mean in the context of integrated marketing?
Setting up a personal page via the firm's website
Customization
Site's ability to tailor itself to different users or to allow users to personalize the site
Online Marketing
The first form of digital marketing
Emotional Intelligence
the ability to understand one's own emotions and the emotions of people with whom one interacts on a daily basis
Frequency
the average number of times a person in the target audience is exposed to a message or advertisement
"Mirror worlds" and "smart systems" are part of which trend in marketing's future use of social media?
the convergence of the real and digital worlds
Dynamic pricing
the practice of changing prices for products and services in real time in response to supply and demand conditions.
Hierarchy of Effects
the sequence of stages a prospective buyer goes through from initial awareness of a product to eventual action
Personal Selling
the two-way flow of communication between a buyer and seller designed to influence a person's or group's purchase decision. usually face-to-face communication between the sender and receiver
It may be more lucrative for brand managers to seek out a social media network with a specialized focus primarily because...
these smaller audiences may be more homogenous and sometimes skew more strongly toward your product.
Direct Marketing
uses direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet. The communication can take many forms, including face-to-face selling, direct mail, catalogs, telephone solicitations, direct response advertising (on television and radio and in print), and online marketing.
The sales function must collaborate with other marketing functions to create greater customer...
value
What's another name for social networks?
virtual communities
Outside order taker
visit customers and replenish inventory stocks of resellers, such as retailers or wholesalers.
The sales plan describes what is to be achieved and...
where and how the selling effort of salespeople is to be deployed
A goal of sales force supervision is often to encourage salespeople to...
work smart
Advantages of Personal Selling
A salesperson can control to whom the presentation is made, reducing the amount of wasted coverage, or communication with consumers who are not in the target audience.
Frequently updated material content (such as news stories) may be done through ________ feeds to which users usually subscribe.
RSS or Rich Site Summary
Lightning Pattern
Spending an advertising budget in sporadic bursts
Content
Text, pictures, sound, and video that the site contains
Complex Structure
Two or more sales force structures used in combination
Push Strategy
Used in promotional strategies to encourage cooperation of intermediaries
Pull Strategy
Used in promotional strategies to encourage interest among consumers