MKTG 3340 Exam #2

advertising objective

a specific communication task to be accomplished with a specific target audience during a specific period of time

Slice of Life

advertising strategy which "typical" people using a product in a normal everyday setting

Fantasy

advertising strategy which exaggerated the benefits of an everyday product in a comical or dramatized way

Lifestyle

advertising strategy which illustrates a specialty product for a specialty audience

Multi-Touch Attribution

assigning values to several touch points that occur before a customer converts

value-added pricing

attaching value-added features and services to differentiate a company's offers and charging higher prices

geographic segmentation

dividing a market into different geographical units, such as nations, states, regions, counties, cities, or even neighborhoods

psychographic segmentation

dividing a market into different segments based on social class, lifestyle, or personality characteristics

Behavioral Segmentation

dividing a market into segments based on consumer knowledge, attitudes, uses of a product, or responses to a product

demographic segmentation

dividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation

everyday low pricing

setting prices lower than competitors and then not having any special sales

vertical marketing system

A ________ consists of producers, wholesalers, and retailers acting as a unified system. The system can be dominated by any one of the interdependent members.

value-based

A ________ pricing strategy for an offering begins with an assessment of customer needs and perceptions. Then a target price is set based on customer perceptions of worth.

developing a product

Acquisitions do not include ____.

social

Advertising campaigns involving issues ranging from healthcare, education, and environmental sustainability to human rights and personal safety can be classified under _________ marketing.

First Touch Attribution

Attribution model giving credit for a sale to the first marketing activity the buyer engaged with before the purchase

Last Touch Attribution

Attribution model that gives 100% of credit to the last ad a person interacted with before a conversion or transaction

Test marketing

Certain Whole Foods grocery stores in Washington and Oregon have begun using carts that automatically scan items so that customers do not have to go through a check out line. This is an example of which stage in the New Product Development Process?Test marketing

Lack of unique value proposition Poor product quality Poor use of research Bad timing

Common reasons for failure of new products

test marketing

Foods International is developing a new gluten-free pretzel. The marketing strategy for the product has already been developed and presented to top management. Several prototypes were also formulated by the company's R&D team. The final prototype is now being tested rigorously to ensure that it passes FDA standards. Once approved, the next step will most likely be...

sales promotion

In a marketing communications mic, _____ refers to any short-term incentive that encourages the purchase or sale of a product or service.

direct marketing

In a promotion mix, ______ involves personally connecting with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships.

distinctive

In its advertisements, Timex promotes its affordable and sturdy watches. Fossil emphasizes style and fashion in its advertisements, and Rolex stresses luxury and status. These are all examples of ________ appeals.

crowdsourcing

Kallton is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Kallton is using _____ to generate new product ideas.

personal selling

Karen Dodd is employed by Dell and responsible for calling on primary schools in her home state of Maine to promote the company's offerings. She demonstrates the Dell line of products including desktop computers, laptops, and tablets and fields questions from teachers and administrators alike. This is an example of which promotion tool?

competition-based

Los Amigos, a new Mexican restaurant, has set up shop across the street from Hot Tamales and More. Which of the following pricing strategies will Los Amigos likely use?

cost-plus

Lovely Skin is establishing a pricing strategy for a new moisturizer. The total cost to produce each unit is $3.50. The company has decided to add a $1.50 markup, so the unit price to distributors will be $5. Lovely Skin is using a ________ approach to price the new moisturizer.

product placement

Pepsi being prominently featured on episodes of Empire is an example of...

A

Performance Inc. sells its newest athletic shoe styles to The Sneaker Store and distributes dated or slightly defective merchandise through Sports Discounters. Performance Inc.'s main competitor is Topnotch Manufacturers. Performance Inc. also markets its products through the company Web site. They decide to offer a short-term online promotion to encourage consumers to buy their newest athletic shoes, promoting a 20 percent discount off current retail prices. In such a distribution channel, which of the following would be considered a vertical conflict? A. a conflict between Performance Inc. and The Sneaker Store B. a conflict among Performance Inc., The Sneaker Store, and Sports Discounters C. a conflict between The Sneaker Store and Sports Discounters D. a conflict between Performance Inc. and Sports Discounters E. a conflict between Performance Inc. and Topnotch Manufacturers

False

TRUE/FALSE: The number of products supplied indicates the length of a channel.

False

TRUE/FALSE: Unsought products are products that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort.

greater the channel complexity

The greater the number of channel levels in a marketing channel, the ________.

generate profitable Revenue

The purpose of marketing is to...

multichannel distribution system

Victoria's Closet, a manufacturer of bohemian-style clothing and accessories, sells its products through its online Web site, a catalogue, and specialty boutiques that target women. Which kind of channel arrangement does Victoria's Closet employ to distribute its products?

informative advertising

When P&G developed the Mr. Clean Magic Eraser, the company needed to explain how the product cleans grime from walls without removing paint. What type of campaign was most likely used by P&G for the Mr. Clean Magic Eraser?

sales and cost

Which figures does the company use to analyze the new product's financial attractiveness?

setting advertising objectives

Which is the first step in developing an advertising program?

slice of life

Which message execution style depicts average people using a product in an everyday setting?

D

Which of the following applies to a marketing intermediary who buys brand name toothpaste from 10 different manufacturers, consolidates offerings, and then resells the various brands to 500+ supermarkets? A. help a company develop a direct channel selling system B. facilitate the production of products without direct customer feedback C. buy small quantities of products from producers and break them down into narrow assortments for customers D. transform the assortments of products made by producers into the assortments wanted by customers

B

Which of the following is a goods-and-services combination? A. Chocolate chips B. A milkshake at an ice cream store C. a music lesson D. a train ride E. a bicycle

C

Which of the following is an example of an indirect marketing channel? A. June Bride, which sells bridal gowns via its click-to-order online catalogs B. Farmer Brown, who delivers fresh milk from his dairy to customers every morning C. Wine & Dine, which sells its picnic baskets to select novelty stores across the country D. Lifebelt Insurance, which sells life insurance through its door-to-door salespeople E. Rhonda's Rental, which rents cars to people for the day

C

Which of the following is an objective of persuasive advertising? A. describe available services and support B. communicate customer value C. engage customers and create brand community D. keep the brand in a customer's mind during off seasons E. correct false impressions

A

Which of the following is most likely to be included in an executive's write up of a new-product idea to be presented to a new-product committee? A. the proposed customer value proposition B. the product image C. the marketing strategy D. the business analysis E. the pricing strategy

E

Which of the following is true with regard to products? A. Products do not include experiences, organizations, persons, places, and ideas. B. Products are not meant for sale in the market. C. The quality of products is far more difficult to measure that that of services. D. Products refer to only those activities that are essentially intangible. E. Products include services, events, persons, places, organizations, ideas, or a mixture of these.

A

Which of the following is true with regard to services? A. Services are a form of product that consists of activities, benefits, or satisfactions offered for sale. B. Services can be stored for later use. C. Services refer to purely tangible products. D. Services can be easily separated from their providers. E. Services are tangible product offerings whose quality can be easily measured.

C

Which of the following would be considered an upstream partner in a company's supply chain? A. a firm that resells a finished product and shares the net sales with the producer B. a firm that a firm that markets a product to consumers through social media C. a firm that provides technical expertise in the production of a product D. a firm that buys products at wholesale cost from the company

B

Which statement is most likely true about idea generation in the new product development process? A. A company can either develop ideas through internal or external sources but not through both. B. Idea generation is usually followed by procedures that reduce the total number of ideas. C. Most companies set a limit for the number of ideas generated to simplify the process. D. Idea generation is most effective when it occurs after idea screening. E. Intrapreneurial programs enable customers to contribute to the idea generation process.

market-skimming

With each new generation of Apple iPhone, iPad, or Mac computer, new models start at a high price then work their way down as newer models are introduced. Apple initially uses a _____ strategy.

product concept

a detailed version of the new product idea stated in meaningful consumer terms

distribution channels

complex behavioral systems in which people and companies interact to accomplish individual, company, and channel goals

high low pricing

involves charging higher prices on an everyday basis but running frequent promotions to lower prices temporarily on selected items

shopping products

less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style

Good-value pricing

offering just the right combination of quality and good service at a fair price

creative concept

the compelling "big idea" that will bring an advertising message strategy to life in a distinctive and memorable way