marketing exam two

marketing strategy plan

planning phase- mission statement ex: toms implementation phase- identify target markets, implement the four p's, control phase- evaluate actions

walmart

poorly pays employees but has extensive CSR programs across the triple bottom line

Sun-Jun, the marketing director of Make It Move, is developing a promotional campaign for a new fitness program. Before initiating the campaign, Sun-Jun will need to assess his competitors' strengths, weaknesses, and likely reactions to his firm's

promotional activities

what analysis allows marketers to analyze the content found on sites like Facebook, Twitter, and online blogs and reviews to assess the favorableness or unfavorableness?

sentiment

Which U.S. legislative action specifically prohibits monopolies?

sherman antitrust act

In the immediate environment, what is the first factor that affects the consumer?

the firm itself

What is unique about the copy and images used in developing a social media campaign relative to other forms of IMC? (integrated marketing communications)

they need to be updated almost constantly

Crowdsourcing

users submit ideas for new products

Renata has been assigned the task of learning which age groups and which gender typically buys the company's running shoes. What information should Renata review to obtain the most accurate result?

demographics

triple bottom line of CSR

economic, social, environmental performance

While waiting in line at Target, Mitch sees signs reminding him to visit the company's website for online specials and to sign up for the Target Circle Rewards app. Other signs remind him that Target will match competitors' prices on any item they sell. These store signs represent which 4E framework?

educate

which of the 4E's: call to action, new information, reminding the customer what they already know, know your lemons campaign, sharing what benefits their product or service provide

educate

which of the 4E's: blogging, positive is more profitable than negative, gucci using meme based campaign to appeal to younger people, wayfair paint in room by uploading a picture, #mcdstores people changed it to sharing horror stories, buy button, buyable pins on pinterest,

engage

Staples provides loyal customers with a relevant coupon through their mobile phone, while they are in the store. This represents the ________ aspect of the 4E framework of social media marketing.

excite

which of the 4E's: apps, games, loyalty, location software

excite

When the Minnesota Timberwolves encouraged Twitter fans to post a great shot of a dunk onto its Facebook page for a chance to win tickets to a game, which dimension of the 4E framework was being targeted?

excite, social media and mobile apps or games get the customer excited

which of the 4E's: sharing how products or services can be used and how they work, downloading a chapter of a book before buying it, viewing tutorials, sephora tutorials in store

experience

true or false A marketer's main focus should be on developing universal products or services that can be identifiable by and relevant to all groups of people.

false, a particular group of people

true or false: An advantage of a corporate blog is that all content on the blog can be completely controlled by the company.

false, they can be the controlled to the largest degree but not customers comments

true or false Crystal Water donates 2 percent of its profits to children in need of clean water. This action demonstrates that Crystal Water is a firm with a strong ethical climate.

false, this is corporate social responsibility

free to download but include in app purchases

freemium apps

1965-1976, 41 million americans, latchkey children

generation X

were born between 1977 and 2000 and vary the most in age—from teenagers to adults with their own families.

generation Y (millenials)

total requests for a page

hits

ethical decision making framework

identify issues gather information and identify stakeholders brainstorm and evaluate alternatives choose a course of action

The first step in ethical decision making is to

identify the issue

Charges that firms are using "sweatshop" labor to produce their products are likely to occur during the ________ phase of the strategic marketing planning process.

implementation

An example of the ________ effect is when BMW gained in-depth information about visitors to a popular Chinese social media site and used that information to determine which visitors were likely to be luxury car buyers and targeted advertising toward them.

information

The Wheel of Social Media Engagement includes the following five effects as drivers of social media:

information, connected, dynamic, network, timeliness

three step process to engage customers

listen- social media monitoring analyze- traffic, where the consumer is from and who are they do- use data for personalized offers and trends

four principles of conscious marketing

marketing has greater purpose, stakeholders, corporate culture, ethically based decisions

Seven Primary Motivations for Mobile App Usage

me time (the largest percentage, relaxation or entertainment) self-expression (hobbies and interest) preparation (planning for a flight) accomplishing (finances and health) discovery (news) shopping (product or service) socializing (interacting with other people)

unique visitors

page views

upfront price but offer full functionality

paid apps

prohibits the combining of two or more corporations and restricting price discrimination

1914 clayton act

outlaws price discrimination and allows all buyers to purchase on equal terms

1936 Robinson-patman act

CSR (Corporate Social Responsibility)

A business's concern for the welfare of society.

beacon technology

Enabling an app or website when a smartphone approaches/leaves a location to determine where a customer is

campaign steps

Identify strategy and goals Identify target audience Campaign, experiment and engage Develop budget Monitor and change

wheel of social media engagement

Information effect- outcome of digital marketing where information is spread ex: BMW getting information from chinese website determining who might buy a luxury car Connected effect- humans need to connect and interact with other people Network effect- one to one basis, spreads information fast, cover girl using katy perry Dynamic effect- back and forth communications, how people flow as their interests change Timeliness effect-right place right time, 24/7, responding quickly

How might a technology company like Apple ensure that it behaves in a socially responsible way toward its employees?

It can ensure that pay practices are fair at all levels of the company.

free to download but apps appear on the screen

ad-supported apps

When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must

align the short-term goals of each employee with the long-term, overriding goals of the firm.

Macroenviornmental Factors

culture- morals, values, customs demographics- age, gender, income social- health and wellness technology- access to the internet economic- high income groups are growing, inflation, exchange rates political/legal- political parties and laws

1946-1964, now collecting social security

baby boomers

Courses of action such as halting the market research project, making responses anonymous, and instituting training on the AMA Code of Ethics for all researchers would be identified during which step of the ethical decision-making process?

brainstorm alternatives

factors affecting customers in their immediate environment

company- the firm itself competitors- swot and likely reaction to marketing physical environment- land, water, air, living organisms corporate partners- working with suppliers

Sharing photos on Instagram demonstrates the _______ effect more than the timeliness effect.

connected

When Wendy opened the paint company website, she noticed a button that said "Paint Your Room" and when she clicked on it she could download a photo of her room and change the paint color on the wall to see which looked best. Which of the 7Cs of the online marketing framework does this button represent?

connection

purpose for the firm higher than just making profits

conscious marketing

what recognizes that business is a subset of society?

conscious marketing

In light of recent trends of credit card data theft, Martinson Credit Corp. banned the use of the technology found in old credit cards and developed a more secure card similar to those used in Europe. In which stage of the marketing plan would this decision take place?

control

7Cs online marketing framework

core goals- engaging customers to interact with its content context elements- design and navigation content- text, graphic, video, audio, home page must be clear community- websites and blogs so people can socialize ex: crowdsourcing communication- live chat, email, two way communication commerce- websites or mobile apps to buy goods, desktop usage is higher and so is conversion rate, most loyal customers use multiple channels connection- engagement, call to action buttons