Marketing Final
When pricing through the product life cycle, at which inflection point do you have to start dropping price? Declining Mature Growth Introduction / Early Adopters
Declining
Branding is figuring out how to make your product ____________ in the minds of consumers. Valuable, exciting, and transformative New, improved, and special Different, better, and special Novel, important, and exciting
Different, better, and special
What pricing strategy is used by airlines to maximize profit? Dynamic pricing Product bundle pricing Captive product pricing Skimming
Dynamic pricing
What are the two ways to be quick on mobile sites or apps? Decrease screen changes and increase instruction availability Fewer clicks and more comprehensive steps Drop-down menus and touchable content-to-order Eliminate steps and fill in forms
Eliminate steps and fill in forms
The monetary cost of a product or service is the primary decision maker of whether or not to make a purchase. True or False
False
When determining a pricing strategy, your competitors price is the primary factor in determining what you can charge. True or False
False
What is the key to creating an emotional connection with the consumer? Benefits Patience Eye-catching marketing Trust
Trust
Which of these is part of a typical licensing agreement? Royalty All of the above Non-compete clause Up-front fee Creative approval Performance guarantee
All of the above
A great PR plan reinforces some aspect of the ________ in a unique and interesting way. Brand personality Brand positioning strategy Brand image Marketing plan
Brand positioning strategy
The strategic marketing plan is the blending of the ________ and the ________. Strategic brand positioning; marketing plan Brand positioning strategy; marketing tactics Brand strategy; marketing plan Brand strategy; marketing strategy
Brand positioning strategy; marketing tactics
____________ provides consumers a method of classification, differentiation, and identification for similar products. Product placement Branding Segmentation analysis Consumer demographics
Branding
Why is it important to have a generous marketing budget set aside for a new product launch? It takes a large investment up front to ensure that the product will remain in stock as customers begin to buy it. The most successful new products make a lot of noise with flashy marketing campaigns. If customers don't know the product exists, then there's no way they will buy it. A large investment in marketing will convince company employees that the product is worth their time and effort.
If customers don't know the product exists, then there's no way they will buy it.
In what situation should a promotion be repeated? If it's compelling, unusual, or remarkable If it's simple—coupons, sweepstakes, etc.—and can be done with little hassle If it's only repeated on an annual basis, to give customers time to get excited again If your business improved by 2% or more the last time you ran the promotion
If it's compelling, unusual, or remarkable
When it comes to charities and non-profits, what should you remember? The bigger, the better. Cute sells. Jump on the bandwagon. Image is everything.
Image is everything
When should you use in-store signage? During big sale events—Labor Day, Memorial Day, Black Friday, etc. When you can contract for a full spread throughout the store In support of featured activities and consumer promotions Never—you're essentially throwing money away
In support of featured activities and consumer promotions
Products are made in factories. Where are brands made? In advertising At Point of Purchase In customer interests On packaging benefits In the mind
In the mind
Which of the following is a life currency that a marketer could manipulate, as discussed in this topic? All of the above Information Time Space Money Love
Information; Love; Space
The best way to earn a living is to walk to the mailbox and pick up checks, spending the rest of your day as you wish. That's what licensing can do. True or False
True
True or false: Acquiring a licensed trademark makes the most sense when your company already manufactures and distributes products and has excess manufacturing capacity. Through licensing a new trademark, you can expand your business within your existing product category, increase manufacturing efficiency, and lower YOUR products' costs.
True
True or false: Categorizing consumer needs is a rigorous task we call segmentation analysis. True or False
True
True or false: Defining the kind of outlets where you want to sell your products is called a "channel strategy." True or False
True
True or false: It is better to license your trademarks away and collect royalty checks from others with expertise in selling within their category than attempt to conquer a new product category on your own in which you have no manufacturing or sales expertise.
True
True or false: Smart marketers make variations in their product between distribution channels to align with that channel's strengths. True or False
True
True or false: The criteria for identifying and evaluating licensing possibilities are straightforward. You only need to answer one question: "Will using the trademark with this product increase its value to the consumer more than it will cost me to acquire it?" If the answer is yes, go for it!
True
True or false: Through its product mix strategy, Band-Aid was able to target different usage occasions. True or False
True
True or false: When choosing a distribution strategy, match brand image with the consumer perception of the potential distribution point to find those channels that enhance and synergize with your product identity. True or False
True
True or false: Where your product is sold and how it is displayed creates a powerful communication message about your brand in the mind of consumers. True or False
True
You should leave your smartphone in the car during the interview so that it doesn't interrupt the interview or tempt you to look at it between interviews. True or False
True
You should mail everyone you encounter during your interview day a handwritten thank you note immediately after leaving the building so that it arrives in their mail over the next one or two days. True orFalse
True
When marketer's develop their brand, what is the ultimate emotional connection they seek to establish? Trust Differentiation The consumer voice Truth
Trust
_______ is the emotional connection that every brand should focus on developing with consumers. Plausibility Love Trust Happiness
Trust
Trust = __________. Time/Perception Time + Value Truth - Perception Truth/Time
Truth/Time
The brand positioning statement provides the foundation for __________. Advertising Pricing Promotions All of the above
All of the above
What are the four stages of the AIDA model? Alignment, integration, delivery, acknowledgement Autonomy, inspiration, dedication, action Avoidance, interest, denial, acceptance Awareness, interest, desire, action
Awareness, interest, desire, action
Which type of device should brands focus on using to earn customers and why? Desktop—customers actually go through with purchases more often on desktop than mobile. Mobile—customers can use mobile devices on the go, which is where they do most of their shopping and researching. Both mobile and desktop—customers cannot be separated between mobile and desktop users, because both play a role in the purchase journey. Mobile—customers perform more searches on mobile devices than on computers.
Both mobile and desktop—customers cannot be separated between mobile and desktop users, because both play a role in the purchase journey.
How long on average does the digital purchase journey take? From first search to purchase, the purchase journey takes approximately a week. From first search to purchase, the purchase journey takes an approximate 21 days. If micro-moments are being met, the purchase journey takes an average of 14 days. With the ability to shop anytime and anywhere, the purchase journey has decreased to an average of 12 hours.
From first search to purchase, the purchase journey takes an approximate 21 days.
Branding is about understanding how your product or service fits into the customers ______ in order to make it better? Trust Life Decision choice set All of the above
Life
Which of the following is an example of a brand extension? P.F. Chang's, a Chinese restaurant, offering frozen entrées at the grocery store. The Coca-Cola Company offering Vanilla Coke as a new variety of Coca-Cola. Yoplait yogurt offering a new line of sugar-free yogurt. Chex cereal offering a new Chocolate Chex flavor. FEEDBACK
P.F. Chang's, a Chinese restaurant, offering frozen entrées at the grocery store.
What phrase should always begin the articulation of the benefit in brand positioning? The product name "Not only . . . but also" "New and improved" "That's because"
The product name
What is the law of gravitational marketing? To successfully introduce a new product, you must disrupt marketplace equilibrium by offering something significantly different, better, and special than current offerings. Products that draw on new and exciting scientific research will always be ahead of the game in marketing. Customers tend to gravitate toward what they are already familiar with, so it pays off in the end to imitate existing products. The most successful new products are those that catch the eye of highly influential people, who then draw others to the new product with the weight of their opinion.
To successfully introduce a new product, you must disrupt marketplace equilibrium by offering something significantly different, better, and special than current offerings.
The combined working mission and operating charter create the backbane for developing the marketing plan. True or False
True
A marketer's job is to _____________. Understand how a product or service fits into the target consumer's life in a way that will make their life better and tell them that Make a bigger impression than any other brand or company to get noticed by consumers in a favorable way Increase brand affinity by creating content that will cause consumers to come and linger for longer than they do for competitors' content Introduce new products in a way that appeals to the strongest appetites of potential consumers, such as a desire for money or sex
Understand how a product or service fits into the target consumer's life in a way that will make their life better and tell them that
Which of the following are functional packaging benefits? Added storability Added convenience All of the above Added portability
All of the above
Dominic has recently become vegan and has started buying plant-based snack bars called Koko-Bars. He has gotten several of his friends to start buying them as well, even the meat eaters! Dominic purchases one case of Koko-Bars for $28 twice a month for a year, and then decides to stop buying them to save money. However, one of his more affluent friends is hooked and buys Koko-Bars at the same rate for three years. What is Dominic's lifetime customer value? $2,688 $336 $672 $56
$672
If you are divorced and have custody of your children, you should discuss this with the interviewer. True or False
False
What is the most important metric to track in marketing? Bounce rate Sales revenue Customer lifetime value Click-through rate
Sales Revenue
Customers of Tio Mio, a Mexican fast-food restaurant, were asked, "Based on your experience, how likely are you to recommend Tio Mio to a friend or colleague?" Customers responded on a scale of 1 to 10 scale, where 10 is highly likely to recommend, and 1 is highly unlikely to recommend. The following data resulted from the survey: Score 10 or 9 = 12 customersScore 8 or 7 = 73 customersScore 6 or below = 15 customers What is Tio Mio's Net Promoter Score? -3 85 27 70
-3
If a consumer cannot spot your package from ___________, your packaging needs improvement. The checkout line 15 feet away and within 3 seconds of looking A bird's-eye view 3 feet away and within 20 seconds of looking
15 feet away and within 3 seconds of looking
How many stories should you have prepared and rehearsed before the interview? 1 story 2 stories 3 stories 4 stories
3 Stories
Which of the following describes the specific process for creating a strategic marketing plan? An 8-step process called the Strategic Marketing System A 12-step process called the Strategic Marketing System A 12-step process called the Strategic Branding Process An 8-step process called the Strategic Branding Process
A 12-step process called the Strategic Marketing System
What is the definition of pride as one of the Six Deadly Sins of Advertising? A brand is trying to be trendy when it is not. Advertising is focused on being better than the competition. A company likes to see its name and logo in conspicuous places. Advertising takes on an angry, accusatory tone.
A company likes to see its name and logo in conspicuous place
What is a working mission statement? A chart that provides a hierarchical structure of organizational roles and responsibilities A concise statement that helps focus employees on the company's ultimate objective and map out the road to success An often long and flowery description of the company's objectives published for the public to read A draft of a company's mission statement that is built from the input of both employees and management
A concise statement that helps focus employees on the company's ultimate objective and map out the road to success
It's important that you communicate what during the course of the job interview? I'm good enough. I'm smart enough. Dog-gone it, people like me. I get things done. All of the above.
All of the above
What is an operating charter? A document that defines interactions and authority across and between groups in an organization or department An often long and flowery description of the company's objectives published for the public to read A legal form that must be filed with the state to register a business A single sentence that helps focus employees on the company's ultimate objective and map out the road to success
A document that defines interactions and authority across and between groups in an organization or department
How do we define the life currency "Frustration"? A feeling of dissatisfaction from unfulfilled needs or problems. A feeling of indifference from others. A feeling of anger from inner turmoil. A feeling of resentment from neglect.
A feeling of dissatisfaction from unfulfilled needs or problems.
Which of the following correctly describes a line extension? A line extension borrows the name and brand equity from an existing product to create new products within the same product category. A line extension uses a well-established brand name to create new products in different product categories than those it usually competes in. A line extension involves changing the brand name of a product currently offered by a company. A line extension benefits from the success of another company's brand by creating a new, similar product at a different company.
A line extension borrows the name and brand equity from an existing product to create new products within the same product category.
What is Net Promoter Score? A market research metric designed to gauge the target audience's interest in a new product A measure of how many people each customer promotes a brand to, on average A measure of the total amount a customer has spent on a brand over his or her lifetime A market research metric designed to measure customer experience and loyalty
A market research metric designed to measure customer experience and loyalty
Advertising agencies make money through which of the following means? A commission for each new customer brought in by advertising A percentage of all product sales A service fee for all time spent in market research A monthly retainer fee
A monthly retainer fee
What is a "concept" as described in this topic? A proposed design or schematic plan for an innovation An idea from a brainstorming session deemed to have merit by the moderator A one-paragraph ad for a proposed innovation based on the product's brand positioning An explanation of the target audience, benefit, and compelling reason why for a product
A one-paragraph ad for a proposed innovation based on the product's brand positioning
What kind of "relationship" do customers generally want with a brand? A protective relationship where the brand tries to win the customer back if the customer cheats on it with other brands A relationship where the brand does what it promises and then stands aside until the customer desires brand engagement again A long-term relationship with frequent contact and reassurance A relationship in which they have to chase after the brand and feel the satisfaction of winning the prize
A relationship where the brand does what it promises and then stands aside until the customer desires brand engagement again
What is an email action rate? Action rate measures the level of engagement with your emails by time of day. Action rate is the number of clicks that come from the email. Action rate is the percentage of emails that its intended recipients received. Action rate is the number of subscribers who completed the action you desired them to take.
Action rate measures the level of engagement with your emails by time of day.
What is the definition of a "Dumb-To-Do" when doing an in-store learning exercise? When a product is trying to convince a consumer that it is necessary A characterization than an individual consumer uses to determine product choice An action that a marketer takes that isn't driving incremental sales Things that all products in a category must do to remain competitive
An action that a marketer takes that isn't driving incremental sales.
What is an example of a product that offers a functional benefit? A shirt that makes you feel attractive A car that looks expensive A security system that provides peace of mind An energy drink can that is resealable
An energy drink can that is resealable
How is an operating charter different from a business plan? An operating charter is created internally, whereas a business plan is dictated by investors and the board of directors. An operating charter shows the big picture of what you want to accomplish, whereas the business plan is more detailed. An operating charter is much longer and more detailed, whereas a business plan should be no more than one page. An operating charter is typically classified, whereas a business plan is kept in plain sight for all employees to refer to.
An operating charter shows the big picture of what you want to accomplish, whereas the business plan is more detailed.
How often are marketing plans typically developed? Semiannually Annually Bimonthly Monthly
Annually
The only place where you are guaranteed the opportunity to show your customer why your product is worth purchasing is __________. At the point of purchase Online On Amazon Through advertising
At the point of purchase
Marketers make the music of business, in which _________ is the song that every part of the business sings in harmony from the same hymnal. Trust Customer satisfaction Brand positioning Brand name
Band Positioning
What are the three strategies essential to winning micro-moments? Anticipate, connect, eliminate Be there, be useful, be quick Track, target, trigger Be ready, be available, be dependable
Be there, be useful, be quick
What are the Four Plagues of Consumer Promotion? Been there, done that; sleeping sickness; trinkets and trashitis; oddsitis Trinkets and trashitis; drowning in coupons; tone-deaf advertising; the unending sale Email exhaustion; the unending sale; tone-deaf advertising; drowning in coupons The unending sale; drowning in coupons; sleeping sickness; email exhaustion
Been there, done that; sleeping sickness; trinkets and trashitis; oddsitis
A brand consists of three core components. One is Brand Strategy, another is Brand Positioning. What is the third? Brand Packaging Brand Identity Brand Insight Brand Advertising Brand Trust
Brand Identity
The brand's underlying values, essence, promise, and personality all make up what step of the strategic marketing system? Brand promise Brand platform Marketing tactics Brand positioning strategy
Brand Platform
Creating relevant links between interactions with customers and your brand positioning strategy is known as ___________. Strategic market analysis Digital advertising Brand identity Brand activation
Brand activiation
What is the role of brand management in marketing? Brand management is a niche field of marketing that only large companies include in their marketing plans. Branding is the last step in marketing and can come only after a marketing materials have been developed and tested. Building a strong brand is the essential foundation for successful marketing. Brand management is slowly being eclipsed by product management due to digital disruption, but it is still used in more traditional firms.
Building a strong brand is the essential foundation for successful marketing.
How does the brand development process begin? By determining key marketing strategies and tactics By designing a logo and brand name By identifying influencers who can promote the brand By researching the market to determine the target audience
By researching the market to determine the target audience
Which of these is NOT one of the three true job interview questions that you need to prepare for? Can you do the job? Do you have the intelligence, skills, and strengths to do this job effectively? Will you love the job? Is this something that you'll want to get up every morning and get after it? Do you have the motivation? Can we tolerate working with you? Are you going to fit well within the organization? Can we afford you? Is your salary expectation in line with the salary allocated for this position?
Can we afford you? Is your salary expectation in line with the salary allocated for this position?
Marketing partnerships between brands and non-profit organizations are called ___________. Partnership marketing Cause-related marketing Community builder marketing Charity marketing
Cause-related marketing
Which type of promotion bears repetition? In-store promotions Cause-related marketing campaigns Contests and sweepstakes Theatrical release promotions
Cause-related marketing campaigns
Which two marketing metrics apply to both digital marketing and email marketing? Click-through and conversion rates Bounce and retention rates Click-through and bounce rates Conversion and retention rates
Click-through and bounce rates
You walk into a Maverik gas station to get a drink, but you see that the Doritos display by the front door and grab some of those too! Which life currency is most responsible for impulse purchases such as this? Fear Information Convenience Love
Cnvenience
Consumers have three different ways of processing in order to make a purchase. What is the one where you have to do a lot of research in order to make the decision? Cognitive Habitual Time-consuming Reflexive Responsive
Cognitive
Which of the following is true about innovation? Companies that fail to innovate will eventually see their brands decline and die. Innovation becomes necessary only when competitors have shown signs of adopting new technologies and innovations. Well-established companies have little need for innovation due to brand name recognition. We have no idea if innovation will be important 10 to 20 years from now, so it's best to wait it out and see if it becomes necessary.
Companies that fail to innovate will eventually see their brands decline and die.
Which of the following is a way to reduce risk in the innovation process? Don't spend too much on marketing at first Fail once and don't fail again Invest is prototyping and manufacturing early so you can ramp up easily Conduct concept testing Get nationwide distribution quickly
Conduct concept testing
What two things have caused change in corporate selling techniques to retailers? Tax laws and shareholders Small stores and the MDF Congress and corporate standardization Online stores and accounting MBAs
Congress and corporate standardization
The ___________ is at the center or every marketing decision. Consumer Brand management Product Market analysis
Consumer
An important principle when creating new ideas is to push _________, not ___________. Positive viewpoints; negative criticism Product features; consumer advantages Consumer benefits; product functions Value created; price points
Consumer benefits; product functions
What is the primary tool used to drive product sales? Customer advertising Strategy merchandising Consumer promotion Analytical promotion
Consumer promotion
________ marketing helps raise awareness and educate consumers. Instead of pitching your products and services, you are providing truly relevant and useful content to your prospects and customers to help them. Contextual Content Native YouTube
Content
Google watches the websites you visit, the web stores you shop or browse in, the content you read, and the things you buy or query online. Then, it feeds you ads about those things you've shown an interest in. What is this called? Google Display Network Network targeting Programmatic advertising Contextual targeting
Contextual Targeting
What are the three types of public relations? Corporate, defensive, marketing Social media, promotional, non-profit Defensive, non-profit, social media Marketing, promotional, non-profit
Corporate, defensive, marketing
What are contextual coupons? Coupons generated depending on consumers' purchases and received along with their receipt Digital advertising that pops up after Google searches Rewards cards where a consumer can purchase any brand product to eventually receive one item free Coupons available only to customers who download a brand's app
Coupons generated depending on consumers' purchases and received along with their receipt
Which of the following is a good practice in the packaging development process? Revisit the package design frequently to make updates and changes and keep the packaging fresh. Evaluate the package in a competitive vacuum to eliminate bias. Create a packaging brief after the development process to summarize how it fits in with the brand strategy. Consider the competitive environment in which the product will be situated on the store shelf before developing packaging.
Create a packaging brief after the development process to summarize how it fits in with the brand strategy.
A marketer is in charge of which of the following tasks in a business? Producing the company's long-term financial forecasts Developing and fostering interaction between departments in the business Directly selling products to customers Creating a strategic plan to guide branding, marketing, and communications
Creating a strategic plan to guide branding, marketing, and communications.
Placing a cartoon shark character on the packaging of a brand of children's swimwear is an example of which packaging strategy? Creating preference through improved package performance Creating new product categories through packaging innovation Creating brand personality through packaging None of the above
Creating brand personality through packaging
Packaging together a complete set of travel-size toiletries in an attractive bag instead of selling them one by one is an example of which packaging strategy? Creating preference through improved package performance Creating new product categories through packaging innovation Creating brand personality through packaging None of the above
Creating new product categories through packaging innovation
What should a brand's online content focus on? Creating snackable, educational content Making the hard sell Having step-by-step instructions Increasing the number of "purchase here" opportunities
Creating snackable, educational content
What is typically the best source of new business, product, and service ideas? Copying successful products in the market Asking consumers what they want Crowdsourcing Relying on a few trusted individuals for new ideas
Crowdsourcing
Loyalty programs and reward cards help you measure what? Customer retention and customer acquisition Customer lifetime value and customer retention Customer lifetime value and customer acquisition Customer acquisition and customer promotion
Customer lifetime value and customer retention
When you look at the behaviors of people as well as their demographics, their behaviors, and their psychological makeup, what are you trying to do? Determine the best fit for a test market Determining the brand positioning Determine the target audience Population analysis
Determine the target audience
Which of the following do companies use to track and customize ad targeting across all your devices? Device fingerprinting Closed-loop marketing User experience software Native advertising
Device Fingeprinting
It's not enough to be creative, your plan needs to be __________. Duplicatable Different, better, and special Focused on a specific target LOUD
Different, better, and special
What is typically the key to success in marketing? Offer just a few good products rather than a large variety of mediocre products. Stick with old-school marketing techniques rather than quickly adopting new and popular ones. Differentiating your product or servuce from competitors' products / services so that they see you as the ONLY solution to their problem. Offer the lowest prices compared to competitors.
Differentiating your product or servuce from competitors' products / services so that they see you as the ONLY solution to their problem.
Operating charters are created at which level of an organization? Each department can create its own operating charter. The organization as a whole has one operating charter. The management team typically has an operating charter for the executive officers to follow. Each person within an organization creates their own operating charter.
Each department can create its own operating charter.
Which of the Six Deadly Sins of Advertising comprises or imitating existing campaigns instead of carving out a unique identity? Greed Gluttony Envy Sloth
Envy
Brand management is, at its core, turning customers into ___________. Evangelists Robots Pirates Gold diggers
Evangelists
Who benefits when brands perform in-store marketing? The brand and the consumer—retail eats the cost, but they can leverage exclusive rights to selling brand products. The brand and the retail outlet—at the cost of the consumer. The retail outlet and the consumer—at the initial cost of the brand, the brand has an eventual win through building consumer loyalty. Everybody wins—consumer, brand, and retail all come out on top.
Everybody wins—consumer, brand, and retail all come out on top.
Can we afford you? Is your salary expectation in line with the salary allocated for this position? True or False
False
In order to find success, marketer's must have product superiority versus competitors products and services. True or False
False
It is better to get a contract manufacturer to produce products using your trademark and shipping it back to you so you can sell and market it to customers at higher margins. True or False
False
Most of the people you may meet during your interview day will have no bearing on whether you get the job—only the interviewer(s) matter. True or False
False
Someone who purchases the rights to use someone elses trademarks is called a licensor. True or False
False
The interviewer will refrain from forming an opinion of you until after the interview has ended. True or False
False
To be successful in today's competitive environment, marketer's should spend most of their efforts on finding ways to lower the price of their products and services to customers. True or False
False
True or false: "Exclusivity" distribution means to have a specific place in the store that is exclusive to your products. True or False
False
True or false: "Ubiquity" means having your product at very exclusive retailers only. True or False
False
True or false: It's not necessary for brands to craft their product mix in various sizes, shapes, colors, forms, and usage occasions to specifically meet consumers' needs and expectations, resulting in maximized brand appeal. One size can fit all. True or False
False
True or false: Licensing should be used to break into new product categories in which you do not have manufacturing and distribution capability.
False
True or false: Marketers should slice their consumer segments into tiny benefit slices and create a product for each of them specifically. True or False
False
You should ask the interviewer about the job's salary and benefits during the job interview. True or False
False
You should be spontaneous and think up your responses on the fly during the interview. True or False
False
Covergirl uses the same minimalist tube design for its line of mascara but differentiates specific varieties through the color and shape of the tube. This is an example of _____________. Family packaging Innovative packaging Developing a new brand category Advertising
Family Packaging
You are the BIGGEST Utah Jazz fan that ever lived, and are buying tickets today for the upcoming Jazz game in Salt Lake City. The ticket prices are $250 each, and you need four tickets for your family. (Total cost $1,000). Which life currencies likely impacted your decision to make such a large purchase? Trust Space Convenience Human Energy Information Fear Love Frustration
Fear; Love
What is the next step after moving a product idea through concept testing and prototyping? Defining your target audience Collecting survey responses from the target audience to gauge their interest Creating a name for the product Figuring out how to sell the product
Figuring out how to sell the product
A great marketing PR initiative can add significant value in ________ to augment paid marketing support. Social media visibility Brand popularity Promotional material Free publicity
Free publicity
You are doing your federal income tax return. It's very complicated, so you decide to take your information to H&R Block and have them do your taxes for you. The cost of their service is quite expensive for a college student at $299.00, yet you decide to pay for it anyway. Which of these are life currencies that could have impacted your decision? ` Frugality Frustration Sincerity Trust Benefit Reluctance Persistence
Frustration
Which of the following contributes to an effective environment for brainstorming? Fun An office conference room Having just your core group participate to retain security of the ideas Lots of people Scheduling it midday so everyone's awake
Fun
Which two elements should be present in a PR campaign? Factual and cheap Fun and relevant Relatable and simple Cheap and relatable
Fun and relevant
Digital advertising serves which two purposes? Generating demand and harvesting demand Promoting products and creating a brand persona Creating a brand persona and promoting products Connecting with customers and generating demand
Generating demand and harvesting demand
When consumers were asked what would motivate them to follow a brand or company on social media, what was the number one answer? Get a discount Check for future sales Find similar products with brand Get tips on best ways to use brand products
Get discount
What company's research department discovered the moments that matter when it comes to online e-commerce for business? Meta McKinsey Consulting Accenture Google The Nielsen Company
What drives good marketing PR? Fun Knowledge Money Great ideas
Great Ideas
Which of the Six Deadly Sins of Advertising comprises a company's product claims being so outrageous they cannot be believed? Greed Wrath Gluttony Pride
Greed
What is the moment at the beginning of the purchase journey when discovery and helpful information are found? I-want-to-buy moment I-want-to-learn moment I-want-to-know moment I-want-to-see moment
I-want-to-know moment
What makes Publishers Clearing House's Prize Patrol Giveaway promotion so successful? It was a success the first time due to how unique it was, but it fell into the trap of "been there, done that." It uses the same scheme that multi-level marketing companies use to get consumers to get other consumers on board. It allows consumers to fantasize about seeing themselves win, the promotion builds momentum, and it's personalized. Everybody wants to win a million dollars, so the promotion sells itself.
It allows consumers to fantasize about seeing themselves win, the promotion builds momentum, and it's personalized.
Which of the following is true of an effective brand positioning statement? It lists every benefit the product could provide to consumers. It should be revisited and revised frequently to keep up with market trends. It drives everything the customer knows and believes about the product. It provides clever phrases that should be used in the advertising.
It drives everything the customer knows and believes about the product.
Which of the following is true of corporate PR? It handles the day-to-day operations. It supports strategic brand positioning. It specializes in crisis management. It's in charge of keeping the corporate's reputation clean.
It handles the day-to-day operations
Why is a brand hosting a grand prize—such as a car or a free trip—an excellent promotion? It's safe and familiar, and it's a steady source of consumer excitement. It's not; it's an example of oddsitis. Nearly everyone wants a car or a free trip. It's not; it's an example of sleeping sickness.
It's not; it's an example of sleeping sickness
Which products tend to receive the most shelf space in a store? Items that sell the most units Items whose packaging is more eye-catching Items whose packaging utilizes space efficiently Items that spoil more quickly
Items that sell the most units
What is the cardinal rule of brainstorming? Assume that everyone has something to contribute. Do not stop until you have all agreed on the best idea. Keep all ideas and treat them as if they are great, no matter how ridiculous they sound. The moderator has the final say on which ideas have merit.
Keep all ideas and treat them as if they are great, no matter how ridiculous they sound.
How can businesses best cope with the quick pace of digital disruption? Provide as many routes to purchase as possible. Let marketing lead the way. Adopt new technologies immediately after they are released. Rely on forecasts from economists to know how to proceed.
Let marketing lead the way.
Which of the following is true about customer experience management? It is much cheaper to gain a new customer than to retain a current customer. Satisfied customers are no more likely than dissatisfied customers to make an additional purchase. Dissatisfied customers typically don't attract much attention to the brand. Loyal customers often tell others about their experience and attract positive attention to the brand.
Loyal customers often tell others about their experience and attract positive attention to the brand.
Building trust with consumers requires marketers to __________. Underpromise and overdeliver Overpromise and underdeliver Tell the truth Spend more money on marketing
Tell the truth
Of the different PR incarnations, which one is most often overlooked? Marketing PR Defensive PR Non-profit PR Corporate PR
Marketing PR
What is the difference between marketing and branding? Marketing is the underlying strategy, while branding includes the tactics used to carry out the strategy. Marketing and branding are one and the same. Marketing is done by marketing teams, while branding is carried out by sales reps. Marketing focuses on execution, while branding is the strategy that guides the marketing.
Marketing focuses on execution, while branding is the strategy that guides the marketing.
Leads fall into two categories. What are they? Qualified leads and unqualified leads Digital leads and email leads Consumer leads and retail leads Marketing qualified leads and sales qualified leads
Marketing qualified leads and sales qualified leads
What term was coined by that Company for when a consumer turns to a device to take action on what they want? Four-circle moments Micro moments Critical moments Purchase moments Inclusive moments
Micro Moments
Since 2017, consumers have watched video content the most on which type of technology? Movie screens Mobile phones Desktop computers Televisions
Mobile Phones
Have you ever looked at your Facebook feed and seen an article about something that interests you, and you clicked on it? It took you to an article about a product or service clearly advertising, but it didn't seem like an ad at first. This type of advertising is called __________. Contextual targeting Content marketing Native advertising Referral advertising
Native advertising
Copying a competitor's packaging that has proven to be successful is an example of which packaging strategy? Creating preference through improved package performance Creating new product categories through packaging innovation Creating brand personality through packaging None of the above
None of the above
What is VIP guest hosting? Offering special or preferential treatment to your customers Creating an exclusive selection of customers via loyalty rewards Hosting events specifically for high-end consumers Sending exclusive deals to customers who have a membership with your company
Offering special or preferential treatment to your customers
It is important to make a new product available ____________ because that is where most people begin their shopping journey. In big-box retail stores On Amazon On retail store websites In grocery stores
On Amazon
A study of Facebook users found that the people who said it was permissible for brands they "like" to send them marketing messages on the platform wanted to hear from a brand how often? Several times a day, but only if the posts were engaging Once a day, but only if the posts were useful Once a week or once a month at most Once a day, but only if the posts were engaging
Once a week or once a month at most
How long should a working mission statement be? One paragraph One sentence One page As long as it needs to be to convey the company's values
One Sentence
At top companies, how long does it take to develop a marketing plan? If a brand is taking more than four weeks to develop a marketing plan, they're wasting their time. One to two months—leaving ten months for the execution of the plan. A year—a brand is forever in the process of developing a marketing plan for the next year. One to two weeks—the first week will be brainstorming, and the second will be developing the plan.
One to two months—leaving ten months for the execution of the plan.
You buy 10,000 advertisement views. Your ad is shown 10,000 times, and you pay for that, regardless of whether any users clicked on your ad. What is this called? Pay-per-click Pay-per-view Indirect buy Real-time bidding
Pay-per-view
What are the stages of the improvement cycle (cycles of learning)? Brainstorm, model, survey, test Learn, know, do, become Study, do, test, revise Plan, do, study, act
Plan, do, study, act
Event-marketing plans require attention to which key areas? Points of distribution, event signage, brand activation, VIP guest hosting, neutralizing ambush threats Pre-planning, organization, development Development, procurement, establishment TV and radio rights, national coverage, local attendance, promotional materials, grassroots marketing
Points of distribution, event signage, brand activation, VIP guest hosting, neutralizing ambush threats
A brand sponsoring the next Taylor Swift concert tour is an example of __________. Popularity marketing Bandwagon marketing Crisis marketing Star marketing
Popularity marketing
When the Maverik Convenience Store chain enters a new market, they price their gasoline at a 25 cent discount to the competitive prices at existing gas stations in order to attract gas buyers and force the other gas station owners to sell their stations to them. What is this pricing strategy called? Targeted pricing High-low pricing Predatory pricing Price prejudice
Predatory Pricing
Public Relations departments typically use two traditional methods to spread their gospel: the ________ and the ________. Press conference; information packet Press release; marketing event Marketing event; information packet Press release; press conference
Press release; press conference
Which type of pricing changes the price depending on time of day? Loss-leader Cost-plus pricing Premium pricing Price Discrimination
Price Discrimination
What are the typical axes used in a segmentation analysis of your product category? Consumer interest and market saturation Market saturation and number of competitors Market saturation and quality Price and quality
Price and Quality
Taco Bell managers ran a pricing test and discovered that ton matter what price they posted for their Crunchwrap Supreme, the volume they sold didn't change. In some stores they ridiculously priced it at $5.99, in others at just .99 cents. There was no difference in the Volume of sales at any of the test stores. All stores sold about 132 (plus or minus 5) per day. This research indicates what about consumers? The price is right. Price elasticity Price sensitivity Price Insensitivity
Price insensitivity
When customers react negatively to small price changes, its called: Price elasticity Price discrimination Price sensitivity Price insensitivity
Price sensitivity
Market research that you do yourself on a small number of people, would be classified how? Primary and segmented Primary and qualitative Concept and secondary Systematic and objective
Primary and qualitative
Which company invented the business strategy of brand management? Procter & Gamble Coca-Cola UPS Disney
Procter & Gamble
When you calculate how much money you can make off a single purchase transaction, what is that called? None of the above—its impossible to calculate that. Price analysis Profit Margin Price / Profit
Profit Margin
_________ is the use of automated technology for media buying (the process of buying advertising space), as opposed to traditional (often manual) methods of digital advertising. Programmatic advertising Display network Contextual targeting Network targeting
Programmatic advertising
What are the three categories of customers measured in a Net Promoter Score survey? Positives, neutrals, and negatives Actives, passives, and negatives Promoters, neutrals, and detractors Promoters, passives, and detractors
Promoters, passives, and detractors
____________ can communicate that your brand is unique, different, or special. Proprietary Packaging Retail packaging Plastic packaging Open source packaging
Proprietary Packaging
When you price your product or service at $99.99 instead of $100.00 it is called. Price discrimination Psychological pricing High-low pricing Dynamic pricing
Psychological pricing
What are the two main types of research that marketers use that are related to the number of people that the research is conducted on? Systematic research and objective research Quantitative research and segmentation research Primary research and secondary research Qualitative research and Quantitative research
Qualitative research and Quantitative research
What three attributes of a company's message do consumers say influence brand perception? Quality, timing, relevance Easy to find, easy to use, easy to understand Informative, easy to find, valuable Helpful, relevant, widespread
Quality, timing, relevance
You found an interesting survey online that was conducted on 5,000 American's getting their opinions related to climate change. You are going to use this research as part of a paper you are working on. What type of research would this be classified as? Test market Qualitative Primary research Secondary Qualitative research Quantitative Secondary research
Quantitative Secondary Research
Which of the following are included in an operating charter? Marketing strategies Quantitative measures of success Company values Brand Positioning Annual sales targets
Quantitative measures of success
Gross Ratings Points (GRPs) are calculated by multiplying what two numbers? Reach and Frequency Advertising Dollars Spent and Reach TV Ratings and Frequency Advertising Dollars Spent and TV Ratings
Reach and Frequency
When the customer only has eyes for your brand, product, or service, they make _____________. Retroactive purchases Cognitive purchases Proactive purchases Reflexive purchases
Reflexive Purchases
Which elements of the strategic marketing plan help you look at the industry your product is a part of and determine how well your brand can compete? Segmentation analysis The entire strategic marketing plan revolves around this Research (primary and secondary) and segmentation analysis Research (primary and secondary), segmentation analysis, and three-circle analysis
Research (primary and secondary), segmentation analysis, and three-circle analysis
What is the name of the congressional act that stated manufacturers must treat all retailers—big and small—equally and fairly? Hatch-Kennedy Act Johnson-Reynolds Act Robinson-Patman Act Ryan-Pelosi Act
Robinson-Patman Act
Which of the following is an indication of a flawed innovation process? Scientists and engineers are driving the process rather than consumer insights and marketing. The product is significantly different from anything else on the market. The idea has never been tried in the past. The company is hesitant to stray from its current target audience.
Scientists and engineers are driving the process rather than consumer insights and marketing.
Which of the following best describes price elasticity? Sell at a high price to enhance brand image and brand perception Sell until the marginal profit equals the marginal cost. Specialize so that you get manufacturing efficiencies. Sell at a low price to capture market share Buy low, sell high.
Sell until the marginal profit equals the marginal cost.
Coupons are a prime example of which of the Four Plagues of Consumer Promotion? Sleeping sickness Trinkets and trashitis Oddsitis Been there, done that
Sleeping sickness
When performing an in-store learning experience, the benefits that market leaders provide that set a product apart and give it a competitive advantage is called what? Benefits that focus on "smart" technology A product offer that makes a product completely unique from its competition The "must-haves" for a product within that product category Smart To-Do's
Smart To-Do's
The process of gaining website traffic or brand attention through social media sites is called what? Influencers Targeted marketing Social media marketing Native advertising
Social media marketing
Which type of brands are common victims of the plague of oddsitis? Fast food Soft drink Convenience store Coffee
Soft drink
You live in a small, rented one-bedroom apartment that's about 566 sq ft. You were out shopping today, and walked into Costco. By the doors they have the TV's displayed. Your eyes are drawn to the magnificent 83 inch LG OLED that's on sale for $3,899. It's expensive, but its also AWESOME. The prettiest picture you've ever seen on a TV. You just got your tax return, so you have the cash available to buy it. You REALLY want it, but you walk away and don't purchase it. What life currency most likely drove this decision? Money Quality Expertise Love Information Space Human Emergy Fear Trust
Space
A good friend told of this cool new shoe called Kizik that you can step right into without needing to bend down or tie shoe laces. No heel crushing, no hands. Interesting, right? You are standing in their new store at Fashion Place Mall, but it's busy with customers and only one clerk is working. You want to try on a pair of their Athens model (price $129) and ask some questions (like, does the back of the shoe break down and wear out quickly?). You've been standing around for 20 minutes and the clerk is still busy, so you leave the store. What life currencies likely caused you to leave without making a purchase? Information Space Location Trust Innovation Location Benefits
Space; Information
What is the primary purpose of closed-loop marketing? To measure which marketing efforts are working and which are not To help sales teams keep track of interactions with customers To set up automated emails so customers keep the brand top-of-mind To gather data that helps the company take positive steps to improve the customer experience
To measure which marketing efforts are working and which are not
What are marketing KPIs? Marketing metrics used to determine how much of the market your product fills at any given time Specific, numerical marketing metrics that organizations track to measure their progress toward a defined goal within your marketing channels Numerical marketing metrics used to divide your strategic brand positioning into itemized actions Metrics used to define the interest of consumers in your product versus your competitor's product
Specific, numerical marketing metrics that organizations track to measure their progress toward a defined goal within your marketing channels
The __________ method of brainstorming is often successful because it uses the brain to absorb and process things or events, then make new connections. Stimulus response Brain draining Creative juices White board
Stimulus Response
What is concept testing as described in this topic? Surveying people in the target audience to gauge their interest in a product concept without actually making the new product Brainstorming new ideas for a product that will solve a real problem in consumers' lives Applying for a patent for a new product to get a better position in the market Developing a prototype of a new product to gain publicity
Surveying people in the target audience to gauge their interest in a product concept without actually making the new product.
What are the four important TV ratings periods called? Months Systems Sweeps Meters
Sweeps
Edward Deming wrote that 94% of problems in most corporations are due to inadequate _________. Branding Systems Human resources Management
Systems
What are the two data sources The Nielsen Company uses in its TV Ratings system? Satellite System Viewer Data and TV Viewing Diaries Cable System Viewer Data and TV Meters Satellite System Viewer Data and Cable System Viewer Data TV Viewing Diaries and TV Meters
TV viewing Diaries and TV Meters
What are the three elements of brand position strategy? Benefit, product need, and target marketing Target audience, benefit, and reason why Target price, target audience, and target marketing Product concept, product need, and product positioning
Target audience, benefit, and reason why
What are the three main elements of a brand positioning statement? Awareness, buy-in, click-through Analytics, brand awareness, call to action Attention, brand name, company values Target audience, benefit, compelling reason why
Target audience, benefit, compelling reason why
How can you differentiate your brand from other brands in the consumer's mind? Tell them how your product / service will fit into their life in a way that will make their fife better. Ensure that your product offers all the same benefits as similar products. Use a logical appeal to show customers your product is superior. Emphasize your company's industry experience and professional acclaim.
Tell them how your product / service will fit into their life in a way that will make their fife better.
Which of the following is true about launching new business ventures? It is fairly easy to get a new business idea up and running successfully. Most ideas for new products and services can be put into action quickly. There are already too many businesses in the market for a new venture to be successful. That 85% of new products, services, and businesses fail within the first 12 months.
That 85% of new products, services, and businesses fail within the first 12 months.
The first words of the "Reason Why" in the brand positioning must be what? To illustrate Product mane Brand name What it does That's because
That's because
At times, marketers assume they know enough to sell their product without the need for consumer insight/. What do we call this? The Knowledge Trap The Assumption Trap Brand Positioning The Ideology Trap
The assumption Trap
How do third-party promotions circumvent the Robinson-Patman act? Promotion agencies did not work at a significant level when the Robinson-Patman act was created, and thus were not taken into account during the creation of the law. They don't; some brands have been sued for engaging in third-party promotions. The brand and the retail store don't exchange money; they both deal with the third party. The Robinson-Patman act was developed to help small retailers; third-party promotions don't affect small retailers.
The brand and the retail store don't exchange money; they both deal with the third party.
Which of the following is an element needed when building a working mission statement? The core ideas that sum up your job activities The key constraints that limit the way you work Who is in charge of different responsibilities in the company Who your biggest investors and supporters are
The core ideas that sum up your job activities.
When someone makes a local search, 50% of those that make that search will visit that store within _____? The week The next two-days The hour The day The next two weeks
The day
Which of the following describes brand positioning? A definition of the underlying principles of the brand The focused articulation of the brand strategy using insights gained from research The creation of distinguishable elements that help consumers identify a brand An analysis to determine where the brand has competitive advantage and superiority versus competitors
The focused articulation of the brand strategy using insights gained from research
What is return on marketing investment (RoMI)? The measure of the revenue a marketing campaign generates compared to the cost of running the campaign The measure of the revenue a marketing campaign generates compared to the revenue of previous marketing campaigns The measure of the revenue a marketing campaign generates compared to the revenue lost to a competitor's marketing campaign The measure of the revenue invested in the running of a campaign compared to the money invested in regular promotions
The measure of the revenue a marketing campaign generates compared to the cost of running the campaign
World-class advertising—ads that break through—have three consistent elements. If you have determined an ad to be "on strategy," then you can use these as a secondary judgment tool. World-class advertising always has which of these commonalities? It draws on traditional values, it makes you laugh, and it feeds into customers' self-esteem. It costs less than $1 million to produce, it possesses shock value, and it draws on traditional values. It makes you laugh, it costs less than $1 million to produce, and it touches an emotion. The product is the hero, the ad is presented in a relevant-yet-unexpected way, and it touches an emotion.
The product is the hero, the ad is presented in a relevant-yet-unexpected way, and it touches an emotion.
What innovation problem led to the failure of Kellogg's Breakfast Mates? The new product was not different from anything that was already offered in the market. The product required a new distribution system that led to many difficulties. Marketing for the product appealed to the wrong target audience. Customers disliked the taste of the new product.
The product required a new distribution system that led to many difficulties.
How would you define market research? Concept testing Repetitive product evaluation The systematic gathering information about consumers' needs and preferences. Systematic planning
The systematic gathering of information about consumers' needs and preferences.
Which of the following is true of the target audience for a brand? Only members of the target audience will purchase the brand. The target audience is the core group, but other consumers may be interested in the brand as well. The target audience can be determined by looking at the brand's spokespeople, who are usually members of the target audience. A brand positioning statement should appeal to the widest target audience possible.
The target audience is the core group, but other consumers may be interested in the brand as well.
What is the lifetime value of a customer (LTV)? The total amount a customer and all of the additional customers they have referred spend on a brand throughout their life The total amount a customer spends on a brand throughout his or her life The value that a customer perceives a brand to be worth in his or her life The average amount a customer spends on each purchase
The total amount a customer spends on a brand throughout his or her life
Fred and his buddy Mike went to a football game and decided to grab some food / drinks before they sat down. They walked the concourse looking at the options, and decided on Cheesesteaks and beer. The total price came to $94 for two cheesesteaks and 2 beers. No one in their right mind would pay that much elsewhere? Why did they do it and feel OK about it? The value each customer places upon the purchase is a combination of life currencies determines their actions. Everything tastes better at a ballgame. The dollar amount it is sold for equates to quality The social approval the customer feels after buying it drives the purchase.
The value each customer places upon the purchase is a combination of life currencies determines their actions.
How has the media consumption of young adults and teenagers changed in recent years? These groups tend to read more news and consume less video content than previous generations. These groups tend to use the TV to watch shows rather than play video games. These groups prefer watching TV on streaming services but have resisted the same trend with music streaming services. These groups tend to browse the internet for information and entertainment rather than relying on print sources.
These groups tend to browse the internet for information and entertainment rather than relying on print sources.
What do the world's most trusted brands have in common? They all have a reputation built on decades of creating great products and happy customers. They are all relatively new companies with innovative marketing techniques. They are all in the tech industry. They all began in the United States.
They all have a reputation built on decades of creating great products and happy customers.
How are marketing development funds used? They are used to fund marketing activities for the specific brand on which they were earned. They are provided to companies to test new products and marketing concepts for their brands. They are placed in a large pool of funds that may be used for any marketing activities. They are used to grow the store's bottom line in any way that also provides a benefit to the brand on which they were earned.
They are used to fund marketing activities for the specific brand on which they were earned.
Which is a significant contributor to why new businesses fail within the first year? They have no actual marketing plan in place. They don't allocate enough of their budget into research and marketing. There are too many behemoth retailers for new brands to make a mark. The economy is not kind to new businesses.
They have no actual marketing plan in place.
Which is an element in the Three Ingredients of Greatness in consumer promotions? They make it easy to enter. They give away a highly valuable prize. They make you believe winning is an exclusive chance. They execute the promotion on digital media.
They make it easy to enter
Which is always true of consumer promotions that contain the Three Ingredients of Greatness? They make their product into a hero. They must borrow a personality from other strong brands. They have to be proprietary. They have to be continuous.
They make their product into a hero.
If you were to design your sponsorship program to address both broad marketing and regionalized interests to extract the most value from your sponsorship rights, you would be following which maxim? Think globally. Act locally. Macro marketing. Micro application. Plan for expansion. Perfect the basics. Go broad. Stay specific.
Think globally. Act locally
Which type of cookies are typically used to facilitate targeted ad delivery? First-party cookies Second-party cookies Third-party cookies Birthday-party cookies
Third-party cookies
An important principle when creating new ideas is that innovations must _____________. Thrive on their own merit, not just because of having a known brand name Be connected to a well-known company or brand Carry a name that is obvious to consumers in explaining what the product is Build on the innovations of competitors
Thrive on their own merit, not just because of having a known brand name
The simple rule for effectively using social media for marketing is this: Ask yourself, is this message ________, ________, and ________? Meaningful, innovative, engaging Friendly, readable, engaging Timely, relevant, actionable Helpful, substantive, inspiring
Timely, relevant, actionable
To increase your email open rate, what two things should you experiment with? Quantity and action request Subject lines and action request Timing and subject lines Quantity and timing
Timing and subject lines
What is the primary purpose of a CRM tool? To track and store customers' personal information To set up automated emails so customers keep the brand top-of-mind To help sales teams keep track of interactions with customers To gather data that helps the company take positive steps to improve the customer experience
To help sales teams keep track of interactions with customers
What is the purpose of a three-circle analysis? To identify who your target audience and core personas are To identify where your brand positioning strategy should be focused To identify where your brand has a competitive advantage To identify your working mission statement and operating charter
To identify where your brand has a competitive advantage
What is the primary purpose of drip marketing? To help sales teams keep track of interactions with customers To measure which marketing efforts are working and which are not To set up automated emails so customers keep the brand top-of-mind To track and store customers' personal information
To set up automated emails so customers keep the brand top-of-mind
How do you calculate your marketing budget range? Gross Total Profit × 0.33 = Revenue; Revenue × 0.07 = low end, Revenue × 0.10 = high end Gross Total Profit × 0.66 = Revenue; Revenue × 0.10 = low end, Revenue × 0.17 = high end Total Sales Revenue × 0.66 = Profit; Profit × 0.10 = low end, Profit × 0.17 = high end Total Sales Revenue × 0.33 = Profit; Profit × 0.07 = low end, Profit × 0.10 = high end
Total Sales Revenue × 0.33 = Profit; Profit × 0.07 = low end, Profit × 0.10 = high end
Special pricing, display fixtures, and value-added bonuses are all a part of increasing sales in retail stores. What sort of marketing technique is this? In-store promotion Trade promotion Account-specific promotion Third-party promotion
Trade promotion
Working with retailers to allow you to do marketing activities in their stores is referred to as ________. Product demonstration Trade promotion In-store promotion The retail system
Trade promotion
What is it called when you encourage consumers to give it a try with a low-cost, one-use package? Surprise sweetener Buy now, pay later Product sampling Trial size
Trial Size
If you own a valuable trademark, its effectively a license to print money - pure profit. True or False
True
What is a strategy for effective event signage? Use signs to indicate where your product will be available to the public for purchase. Overwhelm consumers with signage everywhere they look. Offer special or preferential treatment to your VIP customers. Anticipate competitive threats and develop plans to deal with them.
Use signs to indicate where your product will be available to the public for purchase.
Why doesn't Walmart use MDF? Walmart pressures brands into lower prices using its size as the largest national retailer. Walmart eats the cost of lower prices so people keep coming back, ensuring an eventual gain over a temporary loss. The Robinson-Patman act doesn't apply to Walmart because it is a monopoly, so it doesn't need MDF. Walmart does use MDF but on the back end rather than through marketing.
Walmart pressures brands into lower prices using its size as the largest national retailer.
What question does the working mission statement aim to answer for employees in a business? When are your projects due? Who is your boss? What do you do? How well do you do your job?
What do you do?
Which of the following describes responsive purchasing? When brand management doesn't have much of a role in the purchase decision When people conduct heavy research before making a purchase decision When a customer makes a purchase based on a recommendation or an advertisement When the customer doesn't consider any alternatives to purchasing a particular brand
When a customer makes a purchase based on a recommendation or an advertisement.
What is sloth as one of the Six Deadly Sins of Advertising? When companies imitate an existing campaign instead of carving out their own unique identity When companies like to see their name and logo in conspicuous places When brands gorge themselves on pretty pictures and affecting imagery without consideration of whether that provides sustenance When companies try to be trendy when they are not
When companies try to be trendy when they are not
What are points of distribution? Where your product will be available to the public for purchase Where you are likely to make the most sales Where your product is promoted The points along the supply chain where errors might occur
Where your product will be available to the public for purchase
You should document and track which two things to help you correctly interpret monthly sales revenue? Month-to-month sales and the industry's average revenue Month-to-month sales and sales spikes Year-to-year sales and the executed marketing activities Year-to-year sales and the industry's average revenue
Year-to-year sales and the executed marketing activities
Which of the following is one thing that PR can learn from Hollywood? The momentum from the immediate launch of your product will either make or break your product. Spoilers are the enemy; don't give the competition anything to work with. Without a star, you're sunk. You need a blitz week.
You need a blitz week
What does "Kitchen Logic" mean? You need to ensure that the reason why is presented in an orderly manner, or else you won't be able to find the right utensils when you're "cooking up" a campaign. You need to ensure that the reason why plays on the senses of consumers, as if they were smelling or tasting their favorite meal cooking. You need to ensure that the reason why statement is equally understandable to the entire family from young children to seniors. You need to ensure that you've stated your reason why in a clear, uncomplicated way such that two people sitting at the kitchen table could explain it easily to one another.
You need to ensure that you've stated your reason why in a clear, uncomplicated way such that two people sitting at the kitchen table could explain it easily to one another.
What is the most likely result of a bad customer experience? You will lose the customer's trust, loyalty, and lifetime customer value. The customer will come back because there is usually not an alternative brand to fulfill their needs. You will have many opportunities to win the customer back. The customer will quickly forget the experience and remember all the good experiences they have had with the brand.
You will lose the customer's trust, loyalty, and lifetime customer value.
In marketing, what is the guide that leads to true north? Your strategic marketing plan Your product Your consumer Your brand positioning
Your brand positioning