Marketing Exam 3

A husband and wife have a small store that is located at a beach resort. The only products sold at this store are hand-dipped and sculptured candles made by this couple. Marketers would classify the channel of distribution for these candles as ________.

direct

The Red Baron Gallery has provided funding to Georgia Public Television to help pay for the rights to broadcast the Antiques Roadshow and is credited at the beginning of the show for its financial support. This is an example of ________.

a sponsorship

Which of the following would be the best medium for an advertisement encouraging customers to come to a local retailerʹs weekend sidewalk sale?

local newspaper

Samantha Smith is a big believer in ________ . She has developed a successful career in marketing by learning about what is unique to each country and leveraging this knowledge to build truly innovative products. Samantha Smith is a big believer in ________ . She has developed a successful career in marketing by learning about what is unique to each country and leveraging this knowledge to build truly innovative products.

localization

Some retailers advertise items at very low prices or even below cost just to get customers into the store. The rationale for implementing this ________ strategy is the belief that once a customer is in the store she will buy the advertised item as well as other items at regular prices.

loss leader pricing

The Johnny Pool Supply store reduced its prices after a competing store opened in the nearby location. What type of pricing objective did Johnny Pool Supply most likely use?

market share

cost per thousand (CPM)

media cost/ (number of target audience members reached/1000)

Traditional Media

newspapers, television news shows, and magazines

A new company called LidRock is prospering because it figured out a novel way to get music, video games, and movies into the hands of consumers: on mini-CDs tucked into the lids of soft drinks. LidRock is focusing on which one of the four Ps?

place

informational or rational advertising appeal

practical need: emphasis on the product features and or benefits based on unique selling proposition (USP)

________ are goods offered either free or at low cost as an incentive to buy a product; they may be in-pack, on-pack, or delivered through the mail.

premiums

slice of life

presents a (dramatized) scene from everyday life. Can be effective for everyday products that consumers may feel good about if they see that "real" people buy and use them.

Which of the following is a pricing strategy that turns the typical assumption about price-demand relationships on its head?

prestige pricing

Digital Media

search and display ads

Common Grounds is the first link to show up when someone searches for "Baylor coffee shop" on Google. However, when someone searches for "Waco coffee shop" or "coffee shop in Waco TX," Common Grounds' link does not appear on the first results page, ranking lower than other coffee shops such as Dichotomy and Magnolia Press. To amplify its online reach beyond the Baylor audience and increase impressions among tourists coming to Waco and looking for a coffee shop on Google, Common Grounds could engage in ________ .

search engine optimization

odd-even pricing

setting prices a few dollars or cents under an even number

lifestyle

shows a person attractive to their target market in an appealing setting. The advertised product is "part of the scene", implying that the person who buys it will attain the lifestyle.

Cross-cultural research has found that compliments are used in American English much more frequently than in other languages or even other varieties of English. Compliments in American English typically follow one of three syntactic forms: "I like/love something;" "That's a nice/beautiful something;" or "something is nice/beautiful." Trading compliments is a(n) _________ in the US.

social norm

prestige pricing

sometimes people tend to buy more as the price of luxury goods go up

attention getting

stimulate interests in a product- contests and sweepstakes, premiums, and sampling

Chip equipment makers are an important element of Apple's ______.

supply chain

Smith & Co. has recently adopted _____ to systematize the flow of physical goods, information, and finances throughout its supply chain to maximize profitability.

supply chain management

Penetration Pricing

A firm charges a relatively low price for a product initially as a way to reach the mass market.

other media

-Out of home media -Advergaming Product placement

Gross Rating Points (GRPs)

= reach x frequency reach- % of target population exposed at least once within a specified period (e.g. 4 weeks) frequency- number of times an individual is exposed within a period

price skimming

A firm charges a high introductory price, often coupled with heavy promotion.

Standardization

Basic needs and wants are the same everywhere• Large economies of scale: same product, same promotional materials

Which of the following is most likely intensively distributed?

Coca-Cola beverages

Price-quality inferences

when consumers use price as a cue to infer product quality

Localization

Each culture is unique• Tailoring products and promotional materials to local markets increases marketing effectiveness

Based on the information given below, what is Taylor Swift's engagement rate? Followers: 200 million; Following: 0; Posts: 500; Likes: 1.6 billion; Comments: 0.

Equation-

ACME Inc. may increase the ________ of a promotional campaign by amplifying its _____.

GRP; reach

GRP

Gross rating points, Reach (percentage of the total market) X Frequency

Which of the following is true about the demand curve?

It shows the relationship between product demand and product price.

The best example of product placement is:

James Bond drives a Ford Mondeo in the 2006 film Casino Royale

storytelling

Modern storytelling commercials are like 30-second movies with plots that involve the product in a more peripheral way.

cultural values

Shared conceptions of what is desirable in the culture: cultural ideals.

social norms

Specific rules that dictate what is appropriate within a society: how to behave.

Variable costs for producing textbooks include the price of paper.

True

Testimonial

a celebrity or expert endorsement of a message

comparison

a comparative advertisement explicitly names one or more competitiors

teaser or mystery advertising

ads that generate curiosity and interest in a to-be-introduced product by drawing attention to an upcoming ad campaign without mentioning the product

execution format

basic structure of the message

A manufacturer of a variety of technological devices asked its marketing department to develop inexpensive methods of building and maintaining brand awareness and excitement. The marketing department then recruited consumers who were early adopters of the technological devices to spread the word about the companyʹs new products. This is an example of using ________.

brand ambassadors

As a manufacturer increases price, the ________ drops.

break-even point

Procter & Gamble teamed up with college-aged bloggers who produced sponsored blog and social media posts for P&G brands. During back-to-school shopping season, teen bloggers like Caroline Yauck of Citrus & Style wrote sponsored posts detailing their favorite shower caddy essentials from P&G brands as part of the #CollegeSpeak campaign. Caroline Yauck's paid posts, created for P&G, are an example of:

collaboration in content marketing

CPM

cost per thousand used to calculate how much it costs to reach out to customers

consumer oriented sales promotion based on price

coupons, price deals, refunds and rebates, frequency programs, and special bonus packs

Self-expression is an important ________ in the US.

cultural value

Tiffany & Co jewelry can only be found in a very limited number of intermediaries - typically one intermediary in every local market. This is an example of ________ distribution.

exclusive

B2C Sales Promotions are designed to encourage the purchase of a product, whereas B2B Sales Promotions are not.

false

emotional adverting appeal

focus on emotional or social benefit from the product: safety, love, pleasure, excitement, approval, admiration, fear.

The "Nintendo Minute," a series of funny videos posted weekly on Youtube featuring Nintendo games and products, is an example of ______ .

hub content

To increase brand awareness, Soylent's last promotional campaign included ____ .

impression-based display ads

To reduce the cost of search ads without significantly impacting impressions, a company may find ways to ____ .

increase the search ad's click-through rate

Conventional distribution channels consist of one or more ________ producers, wholesalers, and retailers.

independent

reminder advertising

keeps the name of a brand in people's minds

A number of top fashion-modeling agencies were charged with ________ because they were jointly determining what commissions they would charge for models.

price fixing

If Rolex always sets its prices above competitors' prices, this is most likely an example of ________.

price leadership

Valeo Fashions has just introduced a new line of fashion dresses for teens. The line will initially enter the market at high prices in a ________ strategy.

price leadership

Many car manufacturers adopt a(n) _____ strategy. They have different models that vary from country to country but share a lot of similarities between them. Oftentimes cars are built off the same platform and tweaked according to local conditions and tastes.

product adaptation

sales promotion

programs designed to build interest in or encourage purchase of a product during a specified period

trade sales promotion

promotion activities directed to members of the marketing channel, such as wholesalers and retailers

consumer sales promotion

promotion activities targeted to the ultimate consumer market

Which of the following promotion tools is most closely associated with building up a positive corporate image and handling unfavorable stories and events?

public relations

The Saint Peter's Peacocks men's basketball team, who beat Kentucky and Murray State in their way to the Sweet 16 in March Madness 2022, earned more than $50 million in ________ over their first five days in the NCAA tournament. This value was estimated based on the Peacocks' unpaid appearances on newspapers, TV, and radio during this period.

publicity

Proud Pets, a producer of clothing and accessories for pets, has recently partnered with a regional chain of pet stores. Which of the following would Proud Pets be most likely to expect from its new channel member?

purchasing large quantities of products from Proud Pets and selling them one at a time to consumers

Sellers should know that the less elastic the demand for their product, the more advantageous it is for them to ________.

raise the price

An ad for Mongoose mountain bikes shows a famous biker traversing remote and rugged but beautiful terrain. The biker then says, ʺI love my Mongoose!ʺ This ad uses the ________ execution format.

testimonial

demonstration

the ad shows a product "in action" to prove that it performs as claimed

advertising appeal

the central idea of the ad and the basis of the advertising messages

To a manufacturer of goods, it makes sense to have fewer channel levels when _____ .

the market is geographically concentrated

reach

the number of target consumers exposed to a commercial at least once during a specific period, usually four weeks

Continuous schedules would most likely be used for advertising __________.

toothpaste

The producer and the final consumer are part of every type of channel of distribution.

true

Flower Farm Inc. is a _________ that receives orders from local florists and then work with domestic and foreign growers to fill these orders as quickly as possible.

wholesaler