Marketing Final
Main forms of online advertisement
-Banner ads -Search Related -Display ads
4 types of ads
-Information -Promotion -Contact -Matching -Negotiation
What are issues with the direct marketing industry?
-Security: phishing, scams, etc.
Examples of PR
-news: finding favorable news about the company/product -written materials: annual reports, brochures, magazines, etc -Audiovisual materials: DVD's, online videos, -Corporate Identity: logo, signs, stationary, company cars, buildings, uniforms, etc -Public goodwill: contributing money and time to public service activities
7 Steps in Sales Force Management
1. Designing sales force strategy and structure 2. Recruiting and selecting salespeople 3. Training salespeople 4. Compensating salespeople 5. Supervising salespeople 6. Evaluating salespeople 7. Follow Up
How to Enter a foreign market
1. Exporting (easiest, least profitable) 2. Joint-venturing 3. Direct Investment (riskiest but most profit)
4 Types of Joint Venturing
1. Licensing 2. Contract Manufacturing 3. Management Contracting 4. Joint Ownership
What are the four elements of a compensation plan for salespeople?
A fixed amount, a variable amount, expenses, and fringe benefits
What is licensing?
A simple way for a manufacturer to enter international marketing (another word for franchise).
Promotional Mix
Advertising, sales promotion, personal selling, public relations, and direct and digital marketing
Sustainable Marketing
Calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.
In which of the following steps of the selling process does a salesperson ask a buyer for an order?
Closing
________ is an organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers
Consumerism
A _______ is made up of one or more independent producers, wholesalers, retailers, and consumers
Conventional distribution channel
Promotional tools offered to consumers include____________
Coupons, premiums, contests, sweepstakes, samples, and rebates
Enlightened marketing calls for building long-run consumer engagement, loyalty, and relationships by continually improving benefits consumers receive from the firm's market offering. This is related to _______, one of the five sustainable marketing principles
Customer value marketing
___________ includes practices such as misrepresenting the product's features or performance or luring customers to the store for a bargain that is out of stock
Deceptive PROMOTION
In the Home Shopping Network video they were a pioneer in which area?
Direct Response
Which promotional tool engages directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships?
Direct and Digital Marketing
Which form of marketing communication involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships?
Direct and digital
Which Technology could one day make the entire supply chain intelligent and automated?
Electronic data interchange
According to the text, ________ is perhaps the biggest advantage of social media
Engagement and social sharing capabilities
Opposite to intense distribution?
Exclusive Distribution
Similar consumer needs around the world suggest that a strategy of adapted global marketing is appropriate for most international firms (T/F)
False
What type of business was MyGym?
Franchise
Direct Marketing Channel
Has no intermediary levels-the company sells directly to the consumer. ex: selling products solely through home sale parties, or online web sites.
Insurance, real estate, and used cars salespeople are trained to deliver smooth, canned talks to entice purchases. This is known as________
High-pressure selling
Occurs among firms at the same level of the channel
Horizontal Conflict
What form of advertising would you use for a new product?
Informative
Lush Lawns, a new landscaping company, uses the same logo and shade of green in all forms of communication including its online ads, trucks signage, website, and business cards. Which technique is being used by Lush Lawns to promote its business?
Integrated marketing communications
Distribution strategy for convenience products?
Intense distribution
Producers of convenience typically use ____________ distribution
Intensive
According to the text, what is perhaps the toughest public policy issue now confronting the direct marketing industry?
Invasion of privacy
Joint Venture
Joining with foreign companies to produce or market products or services
__________ is a method of entering a foreign market by associating with foreign companies to produce or market products or services
Joint venturing
What are multiple channels of marketing called?
Omni-channel
A type of identity theft that uses deceptive emails and fraudulent online sites to fool users into divulging their personal data
Phishing
In which step of the selling process does a salesperson or company identify qualified potential customers?
Pre-approach
Which of the following statements is true regarding the selection of qualified channel members?
Producers vary in their ability to attract qualified marketing intermediaries
Specific promotional tools used in _________ include press releases, sponsorships, events, and web pages
Public relations
__________ advertising is utilized most often by mature, well-known brands
Reminder
__________ refers to the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use
Retailing
Which wholesaler channel function is demonstrated when a wholesaler's sales force helps a manufacturer reach many small customers at a low cost?
Selling and Promoting
The ______ concept specifically focuses on the future welfare of customers, but not on future company needs
Societal marketing
Retailers must decide on three major product variables: product assortment, services mix, and ____________
Store atmosphere
The ______ concept focuses on the future welfare of consumers and future company needs
Sustainable marketing
Which of the following is an impact of the Great Recession on retailing trends?
Tighter consumer spending patterns
Corporate marketing ethics policies should most likely address distributor relations, advertising standards, customer service, pricing development, and general ethical standards (T/F)
True
Satisfying consumers' immediate needs and desires does not always serve the future best interests of either customers or the business (T/F)
True
Which of the following statements is true regarding marketing channels and channel intermediaries?
Using marketing channel intermediaries means producers give up some control over how and to whom they sell their products
Between different levels of the same channel (more common)
Vertical Conflict
What is included in online marketing?
Web sites, online advertising and promotions, email marketing, online video, and blogs.
_________ Includes all the activities involved in selling goods and services to those buying them for resale or business use
Wholesaling
Because written codes and ethics programs do not ensure ethical behavior, ethics and social responsibility require____________
a total corporate commitment
Jeff Barkins is a conscientious marketing manager. Sometimes, Jeff and his staff are unclear what decisions to make when faced with moral dilemmas. Jeff and other managers could create broad guidelines that everyone in the organization must follow in the form of a __________
corporate marketing ethics policy
The simplest way to enter a foreign market is through______
exporting
The sales force sells products by engaging customers, presenting its offerings, answering objections, negotiating prices and terms, closing sales, servicing accounts, and ___________
maintaining account relationships
Mobile Marketing
marketing messages, promotions, or other marketing content delivered to on-the-go consumers through their mobile devices.
Forms of digital and social media marketing include__________
online marketing, social media marketing, and mobile marketing
A tax on imported product designed to raise revenue or protect domestic firms is referred to as a___________
tariff
Viral marketing
the digital version of word-of-mouth marketing, involves creating videos, ads, and other marketing content that are so infectious that customers will seek them out or pass them along to their friends
Compared to adapted global marketing, standardized global marketing _________
uses the same marketing mix worldwide