SmartBook: Chapter 7

A press release is a

Written announcement intended to draw news media attention to your business story, the centerpiece of your business profile.

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

Press relations

Paid media

Promotions where a firm hires another for the placement and distribution of the material

For a firm, which of the following are at the center of the PESO model developed by Gini Dietrich, which indicates the initiation point?

The firm's organizational identity The firm's brand

Which of the following components are included in a firm's media content strategy plan?

Publishing procedures Key performance indicators

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

co marketing

Owned media

Promotional materials directly and wholly held by a firm

Shared media

Promotional mentions of a firm or user experiences with its products or services made by customers and posted through their social media sites

______ is how much of each message conveyed a business owner will use to sell his or her product as well as their objectives in using each one.

Promotional mix

Which of the following statements about press releases are correct?

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

Identify a true statement in the context of affiliate marketing.

A firm can develop an affiliate program and detail it on a page on its website.

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

Advertising

involves partnerships between firms where a firm (often a content creator) mentions the product or service of another firm.

Affiliate marketing

The ______ is the name a firm puts on itself and its products to differentiate them from competitor's offerings.

Brand

______, or spokespersons, are those who represent a firm, product, or service to others to increase awareness, sales, and positive attitudes about the firm among the public.

Brand ambassadors

Customer vector reports

Classify information by customer or customer groups based on purchases or dates of purchase

Which of the following is part of the personal selling formula for generating interest in a product or service?

Close Follow-up Prospect and evaluate Prepare Present

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

Co-branding

The earned-paid media overlap

Development of contests, advertorials, lead generation efforts, and influencer-directed campaigns

Earned media

Do-it-yourself and paid efforts to get the message of a firm out to the general public or the mass media in hopes they repeat it

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

Domain

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

Donating

Name the issue that can occur if your company is named after you and you sell the company?

Doubt can arise in the minds of customers as they will wonder why the person the company is named for no longer works there.

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

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

False

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

Free ink

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

Hashtags

When someone notices what you are selling and it sparks their interest, it is called a(an)

Impression

The paid-owned media overlap

Incentive media based efforts, such as sponsorships, affiliate marketing efforts, brand ambassadors, and related types

Which of the following statements about small business donations as a form of marketing are correct?

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

Which of the following statements about press relations are correct?

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

Which of the following statements about customer retention are correct?

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

Which of the following are advantages of being part of a trade association?

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 is true of free ink?

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

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 ______.

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

In the context of incentive media, which of the following are true of sponsored content?

It refers to articles, videos, or blogs that help to promote a firm's products and services. It is a variation of native advertising.

Which of the following statements about viral marketing are correct?

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

______ are forms of ads inserted into the regular flow of noncommercial web pages so that it appears to belong to the page.

Native advertising

Which of the following statements about building a brand are correct?

One good approach to building a brand is to focus on what underlies the brand. Crafting a brand message that reflects what a firm is about is one of the most important jobs for a entrepreneur. A brand is a promise.

What media types make up the term PESO from the 4 letters?

Paid media Earned media Shared media Ownedl media

______ has the advantage that you can be flexible in your presentation and find out a future buyer's main concerns and features they desire.

Personal selling

______ has the advantage that you can be flexible in your presentation and find out a future buyers main concerns and features they desire.

Personal selling

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

Sponsorship

In lieu of doing public relations, what other type of economical community support will advertise your company and its good will?

Sponsorships

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

Succinct

Sales outcome reports

Sum up issues around actual sales

Sales process reports

Summarize data based on the position of customers in a sales process

Which of the following are true in the context of a firm's brand promise?

The brand promise is focused on an emotional outcome the firm wants to achieve in customers through its actions. The value proposition, mantra, and competitive advantage for any of the firm's products or services should be a natural extension of the brand and the brand promise.

Identify benefits of many local store owners sponsoring an event.

There are more booths selling products. More news of their stores is publicized. More customers are drawn to attend.

Which of the following statements are true about advertorials?

They are a form of paid advertisement from a firm, usually as editorial-like articles. They are generally published in mass media.

Which of the following statements are true about business profile kits?

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

Which of the following are true of succinct messages?

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

Which of the following are true of brand ambassadors?

They usually receive a firm's products and services to use and demonstrate to the public. They may be paid or just volunteers.

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)

Trade association

True or False: The Internet changed the entire media landscape for advertising.

True

The gains or benefits provided or the help given by the product or service a firm offers refers to the firm's

brand promise

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

business profile

The owned-shared media overlap

Social media embassies and gateways to shared content

The promotional technique of obtaining prospective customers through paid and unpaid efforts to obtain contact information from people with the plan to send these prospects advertisements or other messages in hopes of getting them to become customers is called

Lead generation

Which of the following statements regarding domains are correct?

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

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 ______ strategy plan.

Media content

The shared-earned media overlap

Media partnerships with companies, media organizations, and influencers

Customer ______ are techniques that focus on efforts to promote satisfaction after the sale and managing marketing to maximize interest in a firm. Multiple choice question.

Retention

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.

An impression is when

Someone notices your promotional effort of letting them know who you are and what you are offering.

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?

Investors Special-interest groups

______ 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

Which of the following may be used as part of a firm's promotional mix?

Press relations Advertising Public relations

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)

Social media management platform

______ 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(n) represents situations where one good turn invites another one from someone else.

Virtuous cycle

In the context of customer relationship management, which of the following are ways in which reports generated during data analysis help firms?

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.

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

What questions will potential customers have if your firm is named after you, the owner?

What is the product or service being sold? What does the company actually do?

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

user review sites