BUAD301 Exam 3

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Of product and services assortment, price, promotion, and place, which plays one of the most important roles in aligning target markets and positioning?

Place

Which is a benefit of direct and digital marketing for buyers?

Sense of brand engagement and community

Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and customers?

Warehousing

A company may use the promotion mix (AKA marketing communications mix) to __________

engage customers, persuasively communicate customer value, and build customer relationships

Shopper marketing

involves focusing the entire marketing process on turning shoppers into buyers as they approach the point of sale

The 3 major groups of wholesalers are ____________-

merchant wholesalers, brokers and agents, and manufacturers' and retailer's branches and offices

_______________ must be closely coordinated for maximum campaign effectiveness

message decisions and media decisions

New major trends and developments in retailing include ___________

new retail forms, shortening retail life cycles, and retail convergence

retailers must decide on 3 major product variables: product assortment, services mix, and ________

store atmosphere

Category Killers

superstores that are actually giant specialty stores

Marketers now have access to fragmented media and promotion mixes to reach diverse audiences. To prevent creating a communications hodgepodge, what must marketers do?

Adopt the concept of integrated marketing communications (IMC)

Which of the following sets of characteristics correctly classifies retailers?

Amount of services offered, breadth and depth of product lines, relative prices charged, how they are organized

The 5 promotion mix tools used by marketers to communicate customer value

Advertising, public relations, personal selling, sales promotion, and direct and digital marketing

__________ permits companies to tailor offers and content to needs and interests of carefully defined segments, which in turn helps develop longer lasting customer relationships as well as resulting in immediate responses

Direct marketing

PR involves building good relations with the company's various publics. What are all of the functions it includes?

Press agency, product publicity, public affairs, lobbying, investor relations, and development

What are the 4 important decisions made when developing an advertising program? (In order)

Setting objectives, setting the budget, developing strategy, and evaluating effectiveness

_____________ are the main forms of direct and digital marketing

Traditional marketing tools and new digital marketing tools

Store retailers can be classified by

amount of service, product line sold, relative prices, how they are organized

Firms seeking immediate response frm targeting individual consumers use __________

direct and digital marketing

the trend of ______ has resulted in different types of retailers now selling the same products at the same prices to the same consumers

retaill convergence

Like retailers, wholesalers must __________

segment and target carefully, differentiate, and position themselves effectively

guided by _____, retailers must decide on a retail marketing mix

strong targeting and positioning

International marketers and advertisers face challenges not encountered domestically. The most basic issue concerns _______________

the amount of adaptation required for the unique characteristics of various country markets

Major retail trends and developments include the rise of megaretailers and rapid growth of direct, online, mobile, and social media retailing, other trends include ___________

the growing importance of retail technology, global expansion of major retailers, and international marketing

Major advertising involve decisions about __________

the objectives, the budget, the message, the media, and the evaluation of results

Progressive wholesalers constantly watch for better ways to meet the changing needs of ________

their suppliers and target customers


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