Marketing Exam 4

Phishing, malware, cyber spying

3 deception or fraud concerns for internet users and marketers:

Cost effectiveness, engagement and social sharing capabilities, immediacy and timeliness

3 reasons companies use social media:

Branded community website

A __________ is designed to present brand content that engages consumers and creates community.

Industrial Structure

A country's ______ shapes its product and service needs, income levels, and employment levels

strong

A firm should compete with ________ competitors in order to sharpen its abilities

Highly unstable governments

A risk associated with international trade

Exists to identify and satisfy the needs of its consumers

According to "Market Concept" an organization should ________

India

According to the text, what location does Coca-Cola consider a long-term growth opportunity

Low cost, efficiency, speed

Advantages of direct and digital marketing for sellers:

Cultural, political-legal, economic

Before a company goes global it must evaluate what environments

Access to numerous products, access to product reviews, privacy

Benefits of online direct marketing for buyers:

Interactive, personal, targeted, inexpensive

Characteristics of social media:

Industry and market

Companies can identify their competitors from both _______ points of view

Economic environment, technological environment, political and legal environment

Considered part of environmental scanning

Planned obsolescence

Consumer advocated, govt agencies, and critics have accused marketing of harming consumers through

Event marketing (event sponsorships)

Creating a brand-marketing event or service as a sole or participating sponsor of events created by others

Excessive markups

Critics point out that a pen that costs 0.50 to make costs $10 to buy, this is an example of _________

Packaging

Deceptive practices fall into 3 groups: pricing, promotion, and _______.

Free trade zones

Economic communities are also known as _________

Competitive advantage

Gaining ______ requires delivering more value & satisfaction to target customers than competitors

Marketing research

Identifying customers wants or needs is best accomplished by ________

NAFTA

In 1994 _______ establish a free trade zone among the United States

Innocent exaggeration for effect

In advertising, "puffery" is a term that refers to _______.

Strategic group

In the audio equipment industry, Philips and Sony belong to the same ______

Direct-mail marketing

Involves sending an announcement, reminder, or other item to a person at their address

buying, selling, storing

Marketers can facilitate the exchange process by performing ________

Building emotional connections with customers

Primary advantage of printed catalogs

Nontariff trade barrier

Restrictive product standards are a ___________________

Online community

Runners can set up profiles & share info on Nikes Nike+ website. This is an example of

Tariff

Term that refers to a tax levied by a foreign government against certain imported products

Strategic planning

The ______ concept is specifically focused on the future company needs

Current profitability, market share growth, cash flow

The company wants to know the relative importance that a competitor places on:

Societal Marketing

The concept of _______ specifically focused on the future welfare of consumers

Conduct competitor analysis

The first step in initiating competitive marketing strategies is to ________

To help foster trade between nations

Why was GATT designed?

Competitor myopia

You're guilty of _______ if you forget latent competitors & only focus on current competitors

Perceived obsolescence

____ refers to continually changing acceptable styles to encourage more and early buying

benchmarking

_____ is the process of comparing the company's products to competitors to find ways to improve

Sustainable marketing

______ calls for the meeting of needs of consumers while preserving future generational needs

Product sales force structure

a sales force organization in which salespeople specialize in selling only a portion of the company's products or lines (product specialization)

Customer (or market) sales force structure

a sales force organization in which salespeople specialize in selling only to certain customers or industries

Territorial sales force structure

a sales force organization tha assigns each salesperson to an exclusive geographic territory in which that salesperson sells the company's full line (one product line to one industry with customers in many locations)

Sales quotas

a standard that states the amount a salesperson should sell and how sales should be divided among the company's products

Salesperson

an individual who represents a company to customers by performing one or more of the following activities: prospecting, communication, selling, servicing, information gathering, and relationship building

Sales force management

analyzing, planning, implementing, and controlling sales force activities

Sales force

critical link between a company and its customers

Personal Selling

personal presentation by the firm's sales force for the purpose of engaging customers, making sales, and building customer relationships

Consumer promotions

sales promotion tools used to boost short-term customer buying and engagement or enhance long-term customer relationships

Business promotions

sales promotion tools used to generate business leads, stimulate purchases, reward customers, and motivate salespeople

Trade promotions

sales promotion tools used to persuade resellers to carry a brand, give it shelf space, and promote it in advertising

Inside sales froce

salespeople who conduct business from their offices via telephone, online and social media interactions, or visits from prospective buyers

Outside sales force (or field sales force)

salespeople who travel to call on customers in the field

Sales promotion

short-term incentives to encourage the purchase or sale of a product or service

Closing

the sales step in which a salesperson asks the customer for an order

Follow-up

the sales step in which a salesperson follows up after the sales to ensure customer satisfaction and repeat business

Approach

the sales step in which a salesperson learns as much as possible about a prospective customer before making a sales call

Prospecting

the sales step in which a salesperson learns as much as possible about a prospective customer before making a sales call

Approach

the sales step in which a salesperson meets the customer for the first time

Presentation

the sales step in which a salesperson seeks out, clarifies and overcomes any customer objections to buying

Handling objections

the sales step in which a salesperson tells the "value story" to the buyer, showing how the company's offer solves the customer's problems

Selling process

the steps that salespeople follow when selling

Social selling

using online, mobile, and social media to engage customers, build stronger customer relationships, and augment sales performance

Team selling

using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large complex accounts

Complex sales force structure

wide variety of products to many types of customers over a large geographic area