Exam 3 business ch. 13 and 16

When customers confronted Nike about a company that was using sweatshop workers to produce its products, Nike developed a program that required suppliers to meet minimum worker safety standards. Nike tries to inform its customers of these policies on its website. This is an example of

public relations

johnson & Johnson's Campaign for Nursing's Future has resulted in over 500,000 people entering the nursing field in the past five years. This is an example of a(n) ______ campaign.

public relations

One of the most successful promotional campaigns implemented by pharmaceutical companies began in 1996 and involved switching the focus of promotion from doctors and pharmacists to consumers. In this instance, the pharmaceutical industry used a ______ strategy to increase profits.

pull

The main objective of push strategies directed at wholesalers and retailers is to

push the products down the distribution channel toward the final consumer

ways of advertising advantages/ disadvantages

refer to screen shot

prospecting

researching potential buyers and choosing those most likely to buy

The promotion mix consists of four tools: advertising, personal selling, public relations and

sales promotion

Frequent shopper programs are intended to get customers to return to the store again and again. This is an example of

sales promotion.

When grocery stores have people in the aisles handing out small portions of food and beverage products, they are using the sales promotion tool known as

sampling

marketing concept

satisfying customer needs while meeting organizational goals: 1. customer orientation 2. service orientation 3. profit orientation

When performing marketing research, the least expensive approach is to collect ______ data and then proceed with more in-depth analysis only if necessary.

secondary

The process of dividing the total market into several groups with similar characteristics is referred to as market

segmentation

demographic segmentation

segmenting markets by age, gender, income, education level, religion, race, and occupation

Target Marketing

selecting which groups or segments an organization can serve profitably

.One factor that Saruman Enterprises considered in deciding whether to market a line of weight-loss supplements was the increasing rate of obesity in the United States. This trend is considered a(n) _______ factor.

sociocultural

Examples of sales promotion techniques include

sponsorships. trade shows. contests.

Consumer Behavior

studying the thought processes people use to make buying decisions and the factors that influence their choice

When promoting products, it is important to create excitement among salespeople, employees and customers. This explains why sales promotion

targets groups both internally and externally.

The process used to analyze customers' reactions to a new product is called

test marketing

marketing

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

An advantage of magazine advertising is that

the ads can target a specific market segment, making them more effective

"You never get a second chance to make a good first impression." This statement captures the importance of which step of the selling process?

the approach

when setting an appropriate price consider

the cost of production, distribution, and promotion

personal selling

the face to face presentation and promotion of goods and services including the sales person's search for new prospects and follow up service after the sale

Public Relations

the function that evaluates public attitudes, changes policies and procedures in response to the public's requests, and executes a program of action and information to earn public understanding and acceptance

After prospects have been identified and qualified, the next step in the selling process is to learn as much as possible about the potential customers' wants and needs. This step is called

the preapproach

The goal of ______ is to build awareness and inform consumers about a company and its product offerings.

the promotion mix

how do nonprofits use marketing?

to raise funds, increase resources, and promote organizations

The goal of ______ marketing is to create conversation and compel the user to spread awareness of the product with friends and family.

viral

Today, there are many websites dedicated to consumers who post reviews of products and services, as well as comments about firms. This is an example of

word-of-mouth promotion. (people tell others about products)

relationship marketing

work closely with existing customers to better satisfy their wants and needs

Fatima has just finished making a sales presentation to a major prospect. Her next step is

answering objections

product

any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eyes of consumers, such as the brand. You research and find your target market before this is developed.

A firm designing an advertising campaign to sell motor oil to the major automobile manufacturers is an example of ________ advertising.

b2b

Martin is a car salesperson at a Volvo dealership. His sales approach to families emphasizes Volvo's excellent safety record, whereas his approach to individuals emphasizes its powerful, sporty engine. This strategy of customizing his approach on how the Volvo's attributes serve the customer is an example of _______ segmentation.

benefit

An online diary that looks like a webpage but is easier to create and update by posting text, photos, or links to other sites is called a

blog

Robertson Properties, a large commercial property management firm, orders cleaning supplies directly from the manufacturer of those products. This purchase is part of the _______ market.

business-to-business

Despite the fact that 90% of the carpet produced today is made within a 65-mile radius of Dalton, Georgia, there are less than 100 manufacturers in this area. This demonstrates the fact that

business-to-business (B2B) customers are relatively few compared to the consumer market.

when marketing to consumers in the global population it's important for companies to remember that promoting products

calls for attention to cultural differences and possible translation problems

The psychological conflict that happens when you have doubts about a recent purchase (buyer's remorse) is also called

cognitive dissonance.

Integrated Marketing Communications (IMC)

combines promotional tools into one comprehensive unified promotional strategy

Selling Era (1920's-1930's)

companies emphasized selling and advertising in an effort to persuade customers to buy existing products

Environmental scanning identifies forces that affect marketing success, such as global, technological and _______ factors.

competitive

companies that adopt a pull strategy target their promotional efforts towards

consumers

mobile/on-demand era

customers rate share and compare through social media

primary data

data you gather yourself through surveys interviews and focus groups

Agatha is starting a small jewelry design business called "Budget Beads and Baubles," and she plans to design jewelry that is aimed at teens and young adults. Agatha's target market is based on _______ factors.

demographic

Successful businesses perform marketing research in order to

detect trends and changes in consumer demand.

one-to-one marketing

developing a unique mix of goods and services for each individual customer

psychographic segmentation

dividing a market into different segments based on values, attitudes, and interests.

geographic segmentation

dividing a market into different units, such as nations, states, regions, counties, cities, or even neighborhoods

In deciding whether or not to expand operations to Singapore, Digital Control Enterprises performed a(n) _______, in which it identified and analyzed the economic, social and competitive factors that may affect its success.

environmental scan

Alonzo, the marketing director for a major retailer, prepared a unified message for the new promotional campaign. After several months, he noticed an increase in sales but realized he needed to compare the increase in sales against the cost of the campaign. Alonzo is

evaluating the effectiveness of the plan

The first step in the marketing process is

finding opportunities.

Ninety percent of the carpet produced in the world today is made within a 65-mile radius of Dalton, Georgia. This demonstrates the fact that business-to-business (B2B) markets are often

geographically concentrated

An effective marketing research process can

identify alternative strategies and make recommendations about which strategy may be best and why.

The first step in a promotional campaign is to

identify the target market

secondary data

information that has already been compiled by others and published in journals and books or made available online

One of the most promising Internet advertising tools is/are _______, which enables two-way communication between marketers and customers.

interactive promotion

An advantage of publicity is that

it reaches people who might not read ads.

Public relations revolves around

keeping a company's image positive with the public.

factors that effect consumer behavior

learning, reference group, culture, subculture, cognitive dissonance

3 step in public relations

listen to the public change policies and procedures inform people you're responsive to their needs

qualify

making sure that people have a need for the products, the authority to buy, and the willingness to listen to a sales message

Marketing mananger

manages the marketing of several products for a business.

The process of finding small but profitable market segments and designing or finding products for them is referred to as _______ marketing.

niche

Making a sales pitch to a potential customer is an important part of

personal selling

One significant difference in terms of the marketing mix between the business-to-business (B2B) and business-to-consumer (B2C) markets is that B2B markets rely more on

personal selling.

Before John can begin selling his new line of book bags, he must determine whether to offer the book bags in the school bookstore, online, in department stores, or in office supply stores. This element of the marketing mix is

place

Which step in the personal selling process is NOT typically used by business-to-consumer (B2C) salespeople?

preapproach

Customer Relationship Management (CRM) era -1990's/2000

process of learning as much as possible about present customers and doing everything you can to statisfy them with goods and services

Production Era (early 1900's)

produce as much as you can because there is a limitless market for it

One possible promotion strategy is to arrange with TV or movie producers to have a product appear favorably in a TV show or movie (such as a box of cereal prominently appearing in a television show). This type of promotion is called

product placement

The portion of the marketing mix that consists of methods such as advertising, public relations, and personal selling in order to inform and persuade customers to buy a product is

promotion

Fruit Juicy, a natural fruit juice company, relies heavily on consumer advertising, publicity and product sampling. These elements make up Fruit Juicy's

promotion mix

The four factors of the marketing mix are

promotion, product, place, and price.

Marketing Research Process

1. define the question and determine the present situation 2. Developing the research plan/ collecting information 3. analyzing the data 4. choose the best solution and implement it

Consumer Decision Making Process

1. need recognition 2. information search 3. evaluation of alternatives 4. make purchase decision

B2B selling steps

1. prospect and qualify 2. pre-approach 3. approach 4. make a presentation 5. answer objections 6. close the sale 7. follow up

infomerical

A full-length TV program devoted exclusively to promoting goods or services.

focus group

A group of people who meet under the direction of a discussion leader to communicate opinions.

Podcasting

A method of distributing multimedia files, such as audio or video files, for downloading onto mobile devices or personal computers.

Marketing Concept Era

After WWII, a consumer spending boom developed. Businesses knew they needed to be responsive to consumers if they wanted their business.

Marketing Research

Analyzing markets to determine challenges and opportunities, and finding the information needed to make good decisions.

publicity

Any information about an individual, product, or organization that's distributed to the public through the media and that's not paid for or controlled by the seller.

Which of the following best describes the first step in the marketing research project?

Define the question and determine the present situation.

Volume (Usage) Segmentation

Dividing the market by the volume of product use.

sales promotion

The promotional tool that stimulates consumer purchasing and dealer interest by means of short-term activities.

Which of the following is considered an economic factor for a business?

a change in oil prices

trial close

a question or statement that moves the selling process toward the actual purchase

brand name

a word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors

Any paid, nonpersonal communication through various media by organizations and individuals who are in some way identified in the message is called

advertising

trade advertising

advertising targeted to wholesalers and retailers by manufacturers

retail advertising

advertising to consumers by various retail stores such as super markets and shoe stores

The four elements of the promotion mix are:

advertising, personal selling, public relations, and sales promotion.