MKT 3401
Which company has exclusivity over the bottled waters sold in Tiger Stadium?
Abita Springs
"The greatest crisis recoveries in branding come via the _____ _____."
Back Door
What does "Webinar" discuss?
Brand/Reputation Recovery
"Purchases can be reversed by _____."
Bringing the product back
"Take a relatively new product in the introductory phase, introduce it, put the product in the hands of a selected few opinion leaders and hope they use the product."
Buzz marketing
Vespa rebrands and gives mopeds to OSU football players to boost brand popularity
Buzz marketing
Which company recently purchased the Baton Rouge River Center for $3.5m over 10 years.
Cane's
A company interested in creating a positive image and separating itself from its competition should become involved in _____.
Cause related marketing
Yoplait's marketing campaign in the note set is an example of which type of marketing?
Cause related marketing
Rihanna & Puma, Kanye & Adidas both are examples of _____ _____ of products who help convey product information to consumers.
Celebrity endorsers
What happened with Coca-Cola as a result of the sponsorship agreement with Abita Springs?
Coca-cola became the exclusive soda provider but couldn't sell disani because Abita Spring exclusivty
What is the term for self doubt as a consumer after you make a purchase, the act of looking for reassurance that what you did was the right thing?
Cognitive Dissonance
Nike beating out other sport apparel companies in the sponsorship competition for what sport?
College Football (mentions UT, LSU, Michigan)
Catalogs, websites, TV, and magazines are an example of which method to gathering external information?
Commercial
In the note set, JC Penny is recognized for using what to boost their sales?
Coupons - Sales promotion
Where is the most amount of money spent on advertising?
Direct and digital mail
What is step 3 in the path to purchase?
Evaluation of alternatives
An _____ _____ is a massive amount of possibilities that gets narrowed down to 3 or 4 final options to choose from.
Evoked set
92% of people choose _____ as the most trusted way to gain information about a product or service. (Step 2)
Family and Friends
How did "Gallery Furniture Mattress Mack" greatly increase the value of his brand in the eyes of the public? (not tv)
He opened the doors of his warehouse to Hurricane Harvey victims.
How did Tiger Woods mismanage his PR crisis?
He was dishonest with the public and pushed away the truth
Point of Purchase displays promote what?
Impulse buying
Are sponsorships valuable?
It depends
What does Karam's term "battna" refer to?
It refers to the fact that negotiation becomes much easier and less stressful when you have a good "battna" or "backup plan"
What is the ethical concern with Buzz marketing?
Its ok to give your product to an opinion leader just don't cram your agenda down their throat.
The key for a company to choose the right cause for it's cause related marketing campaign is that their cause has to be...
Legitimate
Besides having a good battna, Karam mentions that another good tool in negotiation is to _____.
Manage our emotions
Step one of the path to purchase, need recognition, is derived from what?
Maslow Hierarchy
_____ have the shortest shelf life of any product, but have a way of conveying product information to consumers via word of mouth.
Movies
Chicago University conducted a study that related the placement of certain logos and products where?
On the screen at the same time as the slow motion replays in a sporting event
"Everyone is selling something to some degree" and "I just met the greatest salesman in the world! my doctor..." illustrate which part of the promotional mix?
Personal Selling
The word "negotiation" can be used as a synonym for which of the 4 concepts of promotional mix?
Personal selling
_____ _____ is the ability to stand in front of someone and make a presentation, sell yourself and your product.
Personal selling
In the review session, Karam gave an example from the group presentations of a kid who lifted his shirt to reveal a soccer jersey. What does this illustrate?
Personal selling - memorable presentation
"_____ is a conscious effort to modify the thoughts and actions of your consumer and to move you towards a predetermined goal... "
Persuasion
What is step 5 of the Path to Purchase?
Post Purchase behavior
What is listing in the notes as a "sophisticated form of a follow up?"
Post Settlement in negotiations
According to Karam, companies who wish to sponsor a major organization must be prepared to deliver a good _____ as to why they deserve the job.
Presentation
In public relations, promotions of products come through...
Press Releases
Coca-Cola and Coke Zero changing their label to their ideal customer lead to sales jumping 1% (a lot).
Product Advertising
Promotional Mix: This (one of the two types of advertising) is defined as "looking at the benefits and attributes and packing the product in an appealing way."
Product Advertising
M&M's and ET. Trying to get screen time
Product Placement
What is it called when a company pays to have their product shown in a movie, TV show, broadcast?
Product Placement
_____ is the act of communicating with the consumer in order to persuade them to buy your product or switch to another product.
Promotion
In the review session, Karam said "after the first exam in this class, everything is about _____ _____."
Promotional Mix
Dealing with integrity using a variety of mediums to be able to create a positive image/brand or to be able to overcome a negative situation.
Public Relations
LSU's fraternity death incident was an issue that pertained to which of the 4 promotional mixes?
Public Relations
"_____ is a high end form or product placement."
Sponsorship
In the review session, Karam mentioned _____ to be a significant type of Advertising, not just in sports but in all industries.
Sponsorship
_____ is defined as "whenever a company enters into a contractural agreement in order to gain access/entry into a venue for the sake of gaining certain benefits.
Sponsorship
"Once need is recognized, you want to fulfill the need" describes what?
Step 1 of the Path to Purchase: Need recognition
"What are the product's benefits, attributes, and values like?" is questioning that would happen when in the Path to Purchase?
Step 3: Evaluation of alternatives
In which stage of the path to purchase does the consumer "pull the lever"?
Step 4: The purchase
The stage of the Path to purchase is "why personal selling is so important."
Step 4: The purchase
What is the critical step in the Path to Purchase?
Step 4: The purchase
As part of its cause related marketing campaign, Yoplait guaranteed $2m to what foundation.
Susan B Komen Breast Cancer Awareness foundation
How does Karam claim up and coming toothpaste companies can have a shot competing with Colgate and Crest?
Teeth whitening products
What marketing concept in the notes is described as "the way a consumer decision making process works?"
The Path to purchase
One can be a more confident negotiator when he has a good _____.
"Battna" or backup plan
The webinar suggests that one should do what after a crisis occurs?
"Build a new set of networks" Do something new somewhere else
Karam's story about the man who sold him furniture in the furniture store's customer service was a good example of _____.
"The follow up" After the sale, follow up
What was the term Karam most used when discussing what makes for a good negotiation?
"your battna"
In Karam's critical steps to selling yourself to an audience, which stage is the stage in which the presenter often hears the word "No?"
3) Close the sale
In Karam's critical steps to selling yourself to an audience, which step "separates yourself as a brand?"
5) The follow up
_____ % of people trust information on online reviews to influence their purchase decisions. (Step 2)
70%
_____ % of customers will choose a company over it's competitor because the company partakes in cause related marketing.
76
The case of Capital One giving free Tshirts to football fans who sign credit card applications is an example of ...
A sales promotion
An external source of product information can be considered unbiased/public info only if ...
The publisher hasn't been paid
Buying printer ink along with a printer is a good example of what?
Trojan Fish
"Sell something for very cheap, but it doesn't function unless you buy all of the expensive accessories" describes what concept of marketing?
Trojan Fish Strategy
True or False Sponsorships are a type of advertising
True
True or False Sponsorships can fail for a multitude of reasons
True
Consumer reports, government documents, and unfiltered sources are an example of which method to gathering external information?
Unbiased/Public info
What term is defined as "the desirable, believable, advertising appeal that makes your product stand out especially from an evoked set or product."
Unique selling proposition
Once a sport apparel company signs a sponsorship agreement with a certain school, the company gains a degree of _____ around the university.
exclusivity
According to Karam, _____ is "a critical element of personal selling."
negotiation
In institutional advertising, companies must be careful not to _____ people.
offend
An _____ _____ is someone who makes a purchase decision and other people follow suit. (step 2)
opinion leader
"The path to purchase... _____ at its finest."
persuasion
If you _____ the item, there is no purchase.
return
What happens after you purchase?
returns
Companies with products that have made it into the evoked set of their consumers want to come up with a unique _____ _____.
selling proposition
A presentation is about you selling an idea, but more about you selling _____.
yourself
A way to trigger the consumer to remember your product and buy it
Retrieval Cues
What is Volvo's "unique selling proposition."
Safety
Sampling, discounts, and giveaways are examples of which of the 4 types of promotional mix?
Sales Promotion
"Spending money to put the products in the hands of the people" is what component of the Promotional Mix
Sales Promotions
Coupons are examples of which of the 4 types of promotional mix?
Sales promotion
One major benefit of large companies with sports sponsorships is that they can use their visibility and fan access to push _____.
Sales promotions (Capital One T shirt promotion)
"_____ is Hollywood's version of word of mouth" (Step 2)
Sneezing
Name the 4 parts of Promotional Mix
1) Advertising 2) Public relations 3) Sales promotions 4) Personal selling
What are the 3 purposes of "Point of Purchase Displays?"
1) Drives Traffic (attention to a product) 2) Advertising 3) Promotes impules buying
Name two benefits a company can reap from seeking sponsorships.
1) Exposure 2) Visibility
What are the 5 critical steps you must have when selling yourself?
1) Know who you are selling to 2) Put together your presentation 3) Close the sale 4) Be able to "feel the questions" (anticipate) 5) The follow up
Name the 5 steps of the Path to Purchase:
1) Need recognition 2) Information search 3) Evaluation of alternatives 4) Action is taken 5) Post-purchase behavior
PP Step 2 has 3 external methods of gathering information:
1) Personal 2) Commercial 3) Unbiased/Public info
Promotional Mix: What are the two types of advertising?
1) Product Advertising 2) Institutional Advertising
What were the two specific methods of advertising that Karam focused on in the review session?
1) Product Placement 2) Sponsorship
2 ways to overcome cognitive dissonance?
1) Seek reaffirmation from a friend 2) Remember why you bought it in the first place
This component of the promotional mix is critical, and helps a business or person in gaining exposure.
Advertising
_____ is defined as "to inform, persuade, or remind you to do something."
Advertising
In the note set, how did "Gallery Furniture Mattress Mack" (Jim McIngvale) skyrocket to the top of the furniture business?
Advertising via Television from 1am-3am, boosted his sales because he found his target audience
The note sets lists one of the risks of sponsorship to be _____ _____.
Ambush Marketing
_____ _____ occurs whenever a company without sponsorship/visibility rights manages to sneak its way into the athletic venue/media coverage and gain unethical exposure.
Ambush Marketing
The note set mentions a Powerade/Gatorade conflict as an example of what?
Ambush marketing; Karam claims that it is unethical for Powerade to put their big blue coolers on the sidelines when Gatorade has already paid X amount of money to have exclusive rights.
What is step 2 of the Path to purchase?
Information search
When a PR crisis hits a large company, _____ in the moment plays a large role in how the company's staff deals with the matter.
Instinct in the moment
1. BP Oil 2. Walmart and veterans 3. Harley Davidson All examples of _____ _____.
Institutional Advertising
This type of advertising is "aimed at the promotion and reframing of a company's brand." (improving the brand)
Institutional Advertising
What is the internal method of step two of the path to purchase (information search) ?
Internal: Use your mind
What was Harley Davidson's institutional advertising dilemma?
Rebranding to appeal to women and international customers without offending their loyal customers.
Karam: "In sponsorship, _____ matter."
Reputations
The Billboard outside of the original cane's resteruant on Highland is listed in the note set to be an example of which concept?
Retrieval Cue
A way to separate yourself from the competition.
Retrieval Cues
