Sm Bus Chapter 10

______ is the process of selling a business' products and services.

Personal selling

An impression is when

someone notices a promotional effort.

Which of the following statements regarding domains are correct? (Check all that apply.)

Many companies are able to use their name as their domain name. Using a company's domain as its email is professional.

In the context of customer relationship management, which of the following are ways in which reports generated during data analysis help firms? (Check all that apply.)

They help firms in deciding how to operate critical aspects of their marketing efforts. They help firms track and identify products of low quality based on customer satisfaction.

Which of the following is part of the personal selling formula for generating interest in a product or service? (Check all that apply.)

Follow-up Prepare Present Prospect and evaluate Close

Customer ______ are the techniques that focus on efforts to promote satisfaction with and interest in a firm.

retention

True or false: Organizational identity starts with the names of a business, product, or service, and these days often includes characters, slogans, logos, symbols, hashtags, uniforms, and packaging.

True

Which of the following statements about customer retention are correct? (Check all that apply.)

It focuses maximizing satisfying customers after the sale. The three elements to CR are: handling problems after the sale, customer relationship management, and growing customer sales. It is the name for the general approach for keeping customers.

Which of the following are advantages of being part of a trade association? (Check all that apply.)

It helps firms learn about the current and best practices in their own fields. It helps provide access to a network of shared interests and knowledge to firms

Which of the following components are included in a firm's media content strategy plan? (Check all that apply.)

Key performance indicators Publishing procedures

Market penetration is a strategy whose goal is growth, based on

selling more of a firm's product or service to the existing customer base.

Paying for a local organization's needs in exchange for recognition is called Blank______.

sponsorship

______ are activities used to establish and promote a favorable opinion by the media.

Press relations

Which of the following are true of public relations? (Check all that apply.)

Public relations are those things a firm does to help create a favorable opinion of itself in the mind of people. Many people are skeptical of public relations stories.

Which of the following statements about press relations are correct? (Check all that apply.)

Activities can be targeted to the general public or for specific groups. It consists of activities that attempt to influence or increase media coverage of a business. Media includes newspapers, magazines, radio, and television.

______ is the major way most businesses convey their message to potential customers.

Advertising

When someone notices a promotional effort it is called a(n) ______.

impression

______ refers to mentions of a company or products in the media for which the company did not pay.

Free ink

A Blank______ name is the specific name of an Internet site, consisting of a name followed by .com, .net, or a similar code.

domain

A(n) ______ rate is how many prospects or leads a sales person needs to approach in order to make one sale.

hit

A Blank______ message is the key point in as few and as memorable words as possible.

succinct

A company's _________ _________ is the number of prospects or leads who needs to approach in order to make one sale.

Blank 1: hit or conversion Blank 2: rate

True or false: Doing good through community service results in instant publicity, but cannot be worked into company history or biographical information.

False

Which of the following statements about press releases are correct? (Check all that apply.)

A business' contact information should be included at the end of the release so that the reader can get additional details. It is the centerpiece of a business profile kit. Entrepreneurs should use the AIDA formula, which means attention, interest, desire, and action, when writing a press release.

Which of the following occurs when two businesses combine their products or services?

Co-branding

Which of the following statements about viral marketing are correct? (Check all that apply.)

Viral marketing works because hearing about a great product from a friend or other trusted individual adds creditability. It relies on customers telling their friends about a service or product of a business.

The overlap between owned media and shared media in the PESO model is an important part of the media strategy of any small business because Blank______.

it is where the business has its own brand page on different social media platforms

A document that details the specifics of a firm's marketing efforts including its goals, target audiences, distribution channels, and analytics across all the different types of marketing efforts the firm will attempt is called a Blank______ strategy plan.

media content

Which of the following are true of succinct messages? (Check all that apply.)

The words used should be memorable. They should use few words.

______ is a paying it forward approach where a business gives its product, services, time, or connections.

Donating

True or false: A firm's owner should avoid paying customers, friends, or family members to keep an eye on various social media platforms for the firm's services and alert him or her when action is needed.

False

Which of the following statements about small business donations as a form of marketing are correct? (Check all that apply.)

It can be time, connections, services, or products. It can be an in-kind donation to become a sponsor of a charitable event. It does not have to be a big sum of cash.

An online service that captures and displays the feeds from a firm's social media sites and makes it easy to post across multiple sites, schedule posts on different sites, and help the firm see social media statistics is called a(n) _________ __________ _________ __________.

Blank 1: social Blank 2: media Blank 3: management Blank 4: platform

A(n)___________ ____________ represents situations where one good turn invites another one from someone else.

Blank 1: virtuous Blank 2: cycle

Which of the following is true of free ink?

It is a form of free advertising in which a business gets mentioned by the media.

A variant of co-branding is _________-__________, in which two businesses with similar target audiences combine their advertising efforts to enhance their effect.

Blank 1: co Blank 2: marketing

Sponsorship is

paying for a local organization's needs in exchange for recognition.

Words or multiword phrases (without spaces) preceded by a "#" sign that are associated with an idea, person, product, service, brand, firm, event, or the like are called _________.

Blank 1: hashtags

A group of people in the same industry who band together to gather and share information and present and represent the industry to the public and government form a(n) __________ _________.

Blank 1: trade or professional Blank 2: association

Online sites where a firm's customers can post their opinions, rating, and experiences about the firm's products or services for others to see are called _______ _______ ________ .

Blank 1: user Blank 2: review Blank 3: sites

______ is a strategy whose goal is growth, based on selling more of a firm's product or service to a existing customer base.

Market penetration

______ marketing is any electronic equivalent of word-of-mouth advertising, in which the advertiser's message spreads quickly and widely via email, website, blogs, and other online tools.

Viral

A press release is a

written announcement intended to draw news media attention to a specific event.

A media kit that a firm creates for itself to distinguish it from the media kits of other companies is called a(n) _____________ ___________ kits.

Blank 1: business Blank 2: profile

In the context of customer relationship management, match the types of reports generated during data analysis (in the left column) with their descriptions (in the left column).

Customer vector reports: Classify information by customer or customer groups based on purchases or dates of purchase Sales process reports: Summarize data based on the position of customers in a sales process Sales outcome reports: Sum up issues around actual sales

Which of the following statements about advertising are correct? (Check all that apply.)

It is the presentation of a company's image, products, and services to potential customers and the general public. It can be done through print outlets or electronically via mass media or the Internet. Advertising can be free or paid.

In the context of public relations, which of the following are examples of important stakeholders in a business who get a favorable opinion about the business from different forms of publicity? (Check all that apply.)

Special-interest groups Investors

Which of the following statements are true about business profile kits? (Check all that apply.)

They include samples of a firm's products, logo art, photos of products, and target market-specific statistics. They are generally built around new press releases that a firm considers to be of interest to media outlets.