MKT 3401 Final Exam

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What are retrieval ques?

A way to trigger the consumer to be drawn to a particular ad

Which water company outsmarted the football arena?

Abita Springs Water (only water sold in that category even if a competitor would have come up with a water brand)

Your presentation is about selling two things:

An idea and yourself

What is the most important thing to have when negotiating?

BATNA

What is the commercial form of information search characterized as?

Biased

How can you stand out as a business?

Come up with a unique selling proposition (desirable, believable advertising appeals and makes your product stand out)

What is cause-related marketing

Companies engage in good causes for the warm glow

What is public information of information search?

Consumer reports, government documents, and other unbiased and reliable sources

What is personnel?

Customer service

What are public relations?

Dealing with integrity with a variety of mediums to create a positive image or correct a negative image

What was the first thing Johnson did with the Apple Store?

Did away with sales promotions like coupons

Why is Facebook not dead?

Digital advertising

Where is the most money spent on advertising?

Direct mail

What are the three purposes of point of purchase displays?

Drives traffic, advertising, and promotes impulse buying

What do you evaluate in the "evaluation of alternatives" step of path to purchase?

Evoked set

What are the benefits of sponsorship?

Exclusivity, visibility, and exposure

What is the external level of informations search?

External sources we gather information from

What is the last step of personal selling?

Follow up

What is the personal perspective of information search?

Get information from family and friends, opinion leaders, and celebrity endorsers

What are sales promotions?

Giveaways, sampling, discounts, etc. used to create interest from the public and showcase your product

What is the internal level of information search?

Go through your mind and figure it out

What is the definition of the promotional mix?

How to communicate with the consumer to persuade them to buy or switch to your product

In the brand recovery process, there are two things you must do:

How you behave after the crisis and build a new set of networks

Michael Kors did away with discounts because

It was diluting their brand

What was an example of a store whose customers love coupons?

JC Penneys

What are the most critical steps in personal selling?

Know who you're selling to, put together your presentation, close the sale, field the questions, and follow up

What is the purpose of the follow up?

Let people know that this procedure was legitimate and you weren't only trying to sell

Which candy had an option to be in E.T. but decided not to?

M&M's

What are the forms of advertising?

Magazines, billboards, radio, direct mail, digital advertising, product placement, and sponsorship

When negotiating, you have to be able to

Manage your emotions

What are the three parts of retrieval ques?

Mascots, slogan, and sound

What product benefited from buzz marketing?

Moped or Vespa

What are the steps in path to purchase?

Need recognition, information search, evaluation of alternatives, the purchase, and post-purchase behavior

What is post-settlement settlement

Once the negotiation is over in a win-win situation, you make the deal a little sweeter

What is personal selling?

Personal branding and likability from interacting with someone trying to up-sell

What are the different parts of the external level of information search?

Personal, commercial, and public

How can we get our product seen if it is brand new?

Press releases

Which brands do not have sales promotions?

Prestige brands

What are the parts of the retail mix?

Price, product, place, promotion, personnel, and presentation

What are the two types of advertising?

Product and institutional

What is a negotiation tactic commonly used and overreacted to?

The flinch

What is the most expensive part of the billboard?

The land where the pipe is

What is the average price for a full page advertisement in the WSJ?

$270,000

How much did Raising Cane's buy the RiverCenter for?

$3.5 million over 10 years

Which percent of people say that they trust information from online reviews?

70%

What percent of customer are more likely to consider a company involved in cause-related marketing rather than their competitors?

76%

What percent of people choose family and friends as the most trusted way to get information?

92%

What is cognitive dissonance?

The self-doubt you have after you purchase a product

What is the path to purchase?

The way the consumer decision-making process works

What is presentation?

The way the store looks

What is sneezing in Hollywood?

Their version of word of mouth

Why are billboards so effective for certain products?

They know the number of cars that drive through that specific road

Why do oil companies have calm music in their commercials?

To change the brand perception made by people

What is the purpose of advertising?

To inform, persuade, or remind you

What is an example of a company with a unique selling proposition?

Volvo associated with safety

What are point of purchase displays?

Walk into a store and see a huge display of goods

Which is more important: competency or warmth?

Warmth

What is sponsorship

When a company engages in a contractual agreement to gain entry/access to a venue to gain benefits

What is ambush marketing?

When you are not the product that his included in the sponsorship contract and you somehow sneak your product into the venue and steal the publicity

What is exclusivity?

When you are the only product in a product category allowed in a venue

What is buzz marketing?

When you take a relatively new production the introductory phase so you give that product to a select few opinion leaders in the hopes that they use the product and spread good word of mouth about your product

What is the premier example of cause-related marketing?

Yoplait donating $0.10 per yogurt lid sent in to Susan B. Komen

What are the ethical considerations of buzz marketing?

You do not want to influence what the opinion leader says about your product that you have provided to them

What is the evoked set?

Your final set of considerations from the big pool of options

Why is Harley Davidson n trouble?

Sales of bikes for women isn't working out

How do you overcome cognitive dissonance?

Seek reaffirmation from someone you trust and go back and think of the attributes that made you purchase the product to begin with

What is the Trojan fish strategy?

Selling something very cheap but it does not function unless you buy all f the accessories which happen to be very expensive

Chicago University did a study on the power of what in football with OBJ?

Slow motion

What is product placement?

A form of advertising and way to have a product seen by the public

What are the parts of the promotional mix?

Advertising, public relations, sales promotion, and personal selling

What is institutional advertising?

Aimed at promoting to improve the brand of the company

What is the biggest risk of sponsorship?

Ambush marketing

In which step of the path to purchase is a majority of time and money spent?

Information search

What is the biggest part of how you handle crises?

Instinct

What are the two levels of information search?

Internal and external

Which level of information search has lowest involvement?

Internal level

What do companies look for when hiring employees?

Interpersonal skills and teamwork

Which form of advertising allows you to target a specific group based on music preferences?

Radio

What candy does E.T. eat in the movie?

Reese's Pieces

Which brand created teeth whitening to compete with other toothpaste brands?

Rembrandt

What do you need to have in presentations?

Resistance


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