MKTG 3213 OSU Shepherd Exam 3
10.2 What is the definition of Advertising?
A form of external promotion with customers, paid for by the seller
12.1 Marketing as a study originally broke off from which academic discipline?
Agricultural Economics
10.2 Which of these is not one of the Three C's in communication?
Committed
10.3 What is the goal of a sales promotion?
Convincing consumers to "act now"
10.4 Promotion is ultimately about making:
Effective exchanges between the seller and the customer
10.3 What is the definition of Public Relations?
Form of external promotion through channels perceived to be noncommercial
10.4 Who is interacting in Interactive promotions?
Frontline employees and customers
12.1 The Marketing Channel is made up of:
Individuals and organizations
10.4 In the Communications Triangle model, which type of interaction is modeled by a doubleheaded arrow?
Interactive promotion
10.2 Advertising is best thought of as a(n):
Investment
9.1 What is the first step in strategic pricing?
Knowing how your industry behaves
11.3 Which of these situations would Twitter be best for?
Live reporting
10.2 In advertising, a marketing professional should know both her _______ and her _______.
Message; audience
12.2 What is defined as the use of a variety of marketing channels to ensure maximum distribution?
Multi-channel distribution
12.1 What is the supply chain?
Organizations and activities involved with the flow of products from raw materials to the customer
12.1 What is defined as the means of getting the product, service, or idea to the customer?
Place
11.2 The social media landscape changes ______ and requires ________ from marketers.
Quickly; flexibility
10.3 What is a sales promotion?
Short term external promotion tactic designed to influence immediate purchase
9.2 The competitive retail price for a stereo system is $300. Retail stores normally have a margin of 30% for such items. Wholesalers normally have a margin of 20% for such items. The manufacturer's price is unknown. What steps should be taken to determine the manufacturer's highest price?
Solve for Retail price, then Wholesale price, then Manufacturer price
10.3 What is the best example of a Frequent User Program?
Southwest credit card
8.4 A type of selling in which the organization is represented by multiple people, which might include a salesperson, a technical support specialist, or others, is defined as:
Team Selling
12.2 What makes a marketing channel a vertical marketing system?
The channel is managed by a single channel member
10.3 What is puffery?
The idea that most ads tell only the best-case scenario
11.4 What is Search Engine Optimization (SEO)?
The strategy to try and improve the firm's ranking on Google
8.1 Rachel goes to Walmart to buy groceries, and checks out with a cashier. When Rachel hands her cash to the Walmart employee, what kind of interaction has taken place?
Traditional Interactions
8.4 A form of personal selling that focuses on making an immediate sale with little or no concern for customer satisfaction or relationship development is defined as:
Transactional selling
11.3 Which of these is the best strategy for determining the best social media platform to use for marketing?
Try new platforms and content to see what connects
9.1 _______ is not about what we put into our product, it's what our customers get out of it.
Value
11.3 Which of these is an important characteristic of YouTube?
Video-based search engine
11.3 When determining which social media platform to use for marketing, where should marketing professionals look?
Where the target segment is best represented
8.4 What are inside sales?
a type of sales in which interactions are initiated by the buyer
8.4 What is a key account?
a very large customer that provides a significant portion of revenues
7.3 What is the main advantage of using a sub-branding strategy?
all of these
7.1 The primary value of a brand for consumers is the:
association with target groups
7.2 The example of the purchase of the PanAm brand demonstrates how:
brands can have value beyond the book value of the firm
9.1 Which of these does not happen in a "smart industry"?
companies fight with price only
10.2 The goal of "remind and reinforce" applies to advertisements aimed at:
current customers
9.1 The "value created" of a product or service is determined from the perspective of the:
customer
8.2 What is the reason for so many levels existing between the producer and end-user?
each level adds some kind of value to the end user
10.1 The message put in place by the Sender is always identical to the message received by the Receiver
false
11.4 It is common for consumers to go past the first page of their Google search
false
11.4 It is common for consumers to go past the first page of their Google search.
false
7.1 A "brand" is confined to the physical name or logo associated with the firm.
false
8.1 Technology has had little impact on organizational frontlines in most industries
false
8.4 Transactional selling focuses on the customer relationship.
false
9.1 Small changes in price do not have a very large impact on bottom line profits.
false
9.2 You do not need to understand margin and markup if you are using value-based pricing.
false
7.3 Which of these is not a branding strategy?
franchise branding
8.3 It is often most important for which kind of employee to have a strong customer orientation?
front line
7.2 Which of these is not a benefit of institutional branding?
greater individualized identity for new products
7.1 What are the two functions of a brand?
identify and differentiate
7.2 Which of these is not a benefit of sub-branding?
increased market share
7.3 Unilever houses many brands, such as SlimFast nutrition drinks, Dove soap, and Skippy peanut butter, that all sell different products. What branding strategy is used here?
individual branding
11.2 Marketers tend to spend _________ on out-of-home advertisements compared to other methods.
less
7.1 The brand resides in the consumer's:
memory
8.3 When a supervisor doesn't emphasize the importance of customer satisfaction, employees with higher customer orientation:
perform fewer customer service behaviors than they might have
8.2 When it comes to compensation in a channel of distribution, ____ plays the most important role.
power
7.2 Which of these is not a way to turn brand equity into dollar value?
price competition
8.4 Which of these is not a step in the personal selling process?
prospecting
8.4 A form of personal selling that involves securing, developing, and maintaining long-term relationships with profitable customers is defined as:
relationship selling
7.3 The brand name must provide _________ meaning for the product.
secondary
9.1 What is price skimming?
setting a high price for a new product to skim maximum revenues
8.1 Mostly, business is made up of:
smaller, more frequent transactions
7.3 Which of these is not a benefit of individual branding?
strong connections to established brands for new brands to lean on
8.3 What jobs are the most likely to be automated?
those with a great deal of routine
10.3 Public Relations are generally believed more so than advertisements
true
7.1 Seeing a brand can cause consumers to automatically think of the attributes of the firm.
true
8.3 Some people innately have more of a customer orientation than others.
true
8.4 SPIN selling is about asking questions of potential customers.
true
9.1 Value-based pricing will always be more profitable than cost-based pricing.
true
9.2 Mark-up can be greater than 100%.
true
The companies who utilize mobile marketing to its fullest potential are using many platforms in addition to mobile.
true
8.2 What is the largest inhibitor to the growth of sharing economies?
trust
9.1 Which of the following describes peak load or congestion pricing?
variable rate depending on time of day or week
9.1 What is dynamic pricing?
variable rate for each customer
9.1 What is the definition of Price?
what is exchanged for the product, service, or idea
9.1 What is the key difference between cost-based pricing and value-based pricing?
where you start the process