BUAD301 Exam 3
Of product and services assortment, price, promotion, and place, which plays one of the most important roles in aligning target markets and positioning?
Place
Which is a benefit of direct and digital marketing for buyers?
Sense of brand engagement and community
Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and customers?
Warehousing
A company may use the promotion mix (AKA marketing communications mix) to __________
engage customers, persuasively communicate customer value, and build customer relationships
Shopper marketing
involves focusing the entire marketing process on turning shoppers into buyers as they approach the point of sale
The 3 major groups of wholesalers are ____________-
merchant wholesalers, brokers and agents, and manufacturers' and retailer's branches and offices
_______________ must be closely coordinated for maximum campaign effectiveness
message decisions and media decisions
New major trends and developments in retailing include ___________
new retail forms, shortening retail life cycles, and retail convergence
retailers must decide on 3 major product variables: product assortment, services mix, and ________
store atmosphere
Category Killers
superstores that are actually giant specialty stores
Marketers now have access to fragmented media and promotion mixes to reach diverse audiences. To prevent creating a communications hodgepodge, what must marketers do?
Adopt the concept of integrated marketing communications (IMC)
Which of the following sets of characteristics correctly classifies retailers?
Amount of services offered, breadth and depth of product lines, relative prices charged, how they are organized
The 5 promotion mix tools used by marketers to communicate customer value
Advertising, public relations, personal selling, sales promotion, and direct and digital marketing
__________ permits companies to tailor offers and content to needs and interests of carefully defined segments, which in turn helps develop longer lasting customer relationships as well as resulting in immediate responses
Direct marketing
PR involves building good relations with the company's various publics. What are all of the functions it includes?
Press agency, product publicity, public affairs, lobbying, investor relations, and development
What are the 4 important decisions made when developing an advertising program? (In order)
Setting objectives, setting the budget, developing strategy, and evaluating effectiveness
_____________ are the main forms of direct and digital marketing
Traditional marketing tools and new digital marketing tools
Store retailers can be classified by
amount of service, product line sold, relative prices, how they are organized
Firms seeking immediate response frm targeting individual consumers use __________
direct and digital marketing
the trend of ______ has resulted in different types of retailers now selling the same products at the same prices to the same consumers
retaill convergence
Like retailers, wholesalers must __________
segment and target carefully, differentiate, and position themselves effectively
guided by _____, retailers must decide on a retail marketing mix
strong targeting and positioning
International marketers and advertisers face challenges not encountered domestically. The most basic issue concerns _______________
the amount of adaptation required for the unique characteristics of various country markets
Major retail trends and developments include the rise of megaretailers and rapid growth of direct, online, mobile, and social media retailing, other trends include ___________
the growing importance of retail technology, global expansion of major retailers, and international marketing
Major advertising involve decisions about __________
the objectives, the budget, the message, the media, and the evaluation of results
Progressive wholesalers constantly watch for better ways to meet the changing needs of ________
their suppliers and target customers
