MKT 340 Final Set

It is primarily the retailer's responsibility to make sure customers' expectations are fulfilled.

True

Which of the following is the best example of a mass media advertising channel?

USA Today

How a product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it will get to the customer are all elements of - A marketing plan - A marketing exchange - Supply Chain Logistics - Production management - Delivery of the value proposition

a marketing plan

The difference between advertising and publicity is that advertising is

a paid form of marketing communication.

Brands can be extremely valuable domestically, but challenging internationally. Companies can help overcome language difficulties in using brands by

developing brand names that have no preexisting meaning in any known language.

__________ is when two or more firms join to reach a target audience.

Cross-promotion

When Yolanda asked her firm's advertising agency to estimate how often consumers saw her firm's IMC message and what percentage of the target audience was exposed to the message, she was told the reach was 40, the frequency was 4, and the competitive parity was 10. The gross rating points for her firm's campaign were

160

Many of the best-known American retailers, like Starbucks and McDonald's, have contractual agreements with another firm or individuals, allowing its businesses to operate overseas. These companies expanded globally using

Franchising

An ad for Bud Light ran six times during a recently televised football game. When measuring IMC results for this ad, six would be the ________ for this telecast.

Frequency

________ describes how often the audience is exposed to a specific marketing communication, such as an advertisement, within a specified period of time.

Frequency

The most common measure of market potential of an economy is a country's

GDP.

Marketing communications managers usually state their media objectives in terms of ________, which represents reach multiplied by frequency.

GRP

________ appeals help consumers make purchase decisions by offering facts in advertising messages and strong arguments built around relevant issues, explaining key benefits of the firm's products and services.

Informational

What distribution intensity does Pepsi employ?

Intensive

All of the following statements about public relations are true except

Because of its high cost, the use of PR has waned in recent years

Which statement best describes personal selling?

It is the two-way flow of communication between a buyer and a seller.

When a firm pools its resources with that of a local firm to enter a new market, they create a(n)

Joint Venture

India, like some other countries, may require entering firms to create ________ when expanding into their markets, limiting outsiders' control of businesses.

Joint Ventures

________ are specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time.

Loyalty programs

Many States create licensing requirements for a variety of professionals (such as lawyers and accountants) designed to restrict entry into their market by professionals from other states. This strategy limits _________ growth strategies. - Product proliferation - Market Development - Market Penetration - Diversification - Product Development - Segment Development

Market Development

________ refers to the process of evaluating and selecting the ________.

Media planning; media mix

Which of the following is not one of the categories in Boston Consulting Group's Portfolio Analysis Model: - Stars - Question Marks - The Long Tail - Cash Cows - Dogs

The Long Tail

When considering global marketing opportunities in Bangladesh, Tom asked the question, "How will we get it there?" Tom is concerned about ____________________ capabilities in Bangladesh.

infrastructure

All of the following are steps in the AIDA model except

intention

Persuasive advertising is often used when competition

is most intense

One of the difficulties in measuring the effectiveness of IMC efforts is the ________, where consumers do not act immediately after receiving a marketing communication.

lagged effect

Tariffs protect domestic producers by

making imported products more expensive

A measure termed ________ describes how useful an ad message is to the consumer doing the search.

relevance

One of the advantages of personal selling over other types of marketing communication is that

salespeople can build strong relationships with customers.

What type of retailer is Sephora?

specialty

Unlike advertising, public relations

supports promotional efforts by generating free media attention and goodwill.

GDP is defined as

the market value of goods and services produced in a country in a year.

Loretta would like to know which, if any, of her firm's IMC efforts are working. She could use all of the following except __________ to provide feedback from her efforts.

the supplier

The highest level of awareness occurs when customers mention a specific brand name when asked about a product or service. Marketers call this

top-of-mind awareness

Generally, the larger and more sophisticated the channel member, the less likely that it will

use supply chain intermediaries

Kohl's ran a display ad to sell winter jackets on The Des Moines Register's website. The landing page had 50,000 impressions. It had a click-through rate of 2%. 1000 people clicked on the ad, which sent them to a landing page. The conversion rate of the landing page was 10%. The total sales revenue generated from this landing page was $10,000. How many conversions were there?

100

Kohl's ran a display ad to sell winter jackets on The Des Moines Register's website. The landing page had 50,000 impressions. It had a click-through rate of 2%. 1000 people clicked on the ad, which sent them to a landing page. The conversion rate of the landing page was 10%. The total sales revenue generated from this landing page was $10,000. What was the average transaction value?

100

Customer retention programs are based on what concept? - Customer excellence is the easiest macro strategy to follow. - Customer relationships should be viewed from a lifetime value perspective rather than on a transaction-by-transaction basis. - It is important to maximize profits in the first few months of a customer relationship. - Segmentation, targeting, and positioning analysis should not be rushed. - Firms must spend large amounts of money to retain customers.

Customer relationships should be viewed from a lifetime value perspective rather than on a transaction-by-transaction basis

___________ offers the firm complete control over its operations in the foreign country.

Direct investment

Brenda wants to reduce mass media IMC and to increase the use of personalized marketing communication messages. To achieve this goal, Brenda will likely increase her use of

Direct marketing

The requirements of sustainable competitive advantage are that it is easy to be copied and can be maintained over a long period of time - True - False

False

The three general objectives of advertising are to select, target, and promote.

False

When a manufacturer sells truck and car parts to Toyota, this is an example of B2C marketing. - True - False

False

When businesses support cultural or sporting events, such as the Discover Orange Bowl football game, this is known as cause-related marketing.

False

George wants to increase the number of visits to his insurance firm's website, which specializes in rental insurance for college students. George decides to target Internet users who search for the terms "apartment," "insurance," and "student." Which of the following will be most helpful to George?

Google AdWords

First Lady Michelle Obama recorded an ad encouraging parents to teach their children good nutrition habits to stem the increase in child obesity. This message is an example of

a public service announcement

The strategic marketing planning process - Is a five-step process that should always be completed in order - Is frequently used in reverse - Begins with establishing specific, measurable outcomes - Is not always sequential - Forces marketing managers to think rationally

is not always sequential

Marketers must determine the price of a product carefully, based on potential buyers' beliefs about. - It's value - The environment - The cost to manufacture the product - The economic outlook - The product's new advertising campaign

its value

Generally, firms entering foreign markets begin with

less risky strategies first.

Wholesalers sell to all of the following except

manufacturers

Global marketers are under constant pressure to simplify distribution channels in order to

reduce costs

The first objective in the evaluate performance phase of the marketing planning process is to - Determine whether to raise or lower prices - Adjust advertising allocations - Find ways to cut costs - Review implementation programs and results using metrics - Consider changing the target market

review implementation programs and results using metrics

Using prior sales and communication activities to determine the present communication budget describes which method of IMC budgeting?

rule-of-thumb

Cultural nuances, subcultures, and consumers' different views of their roles in different countries can make ________ complicated.

segmentation, targeting, and positioning

After using market research to identify the target audience for his advertising campaign, Jorge will next use this information to

set explicit and measurable objectives for the campaign.

The right communication channel to use in IMC is

the one that will connect to the desired recipients.

The four P's of the marketing mix include product, price, place, and positioning. - True - False

False

The IMC communication process includes all of the following except

Evaluation

Global expansion often begins with

Exporting of goods

A pulsing advertising schedule uses periods of heavy advertising followed by periods of no advertising.

False

Behemoth consumer packaged-goods companies, such as Procter & Gamble, Pepsi, and Kraft, typically seek an exclusive distribution strategy.

False

Retailers who advertise that they sell at wholesale prices are wholesalers.

False

STP refers to segmentation, testing, and promotion. - True - False

False

An advertisement for Titleist golf balls that airs on the cable television Golf Channel network is an example of what type of media channel?

Niche

Julia is developing a budget for her firm's IMC program. First she sets objectives. Then she chooses media, and finally she determines the cost for each product to be promoted. Julia is using the ________ method of establishing an IMC budget.

Objective-and-task

The main focus of _______________ is how a product compares with its competition. - Segmentation - Targeting - Positioning - Marketing

Positioning

Which of the following is not one of the macro or overarching strategies for sustainable competitive advantage: - Customer Excellence - Operational Excellence - Product Excellence - Price Excellence - Locational Excellence

Price Excellence

Which element of the marketing mix is most relevant to the activity "creating value"? - Promotion - Purchasing - Product - Price - Place

Product

A firm that places an emphasis on developing and maintaining positive relationships with the media is focusing on a(n) ________ strategy.

Public Relations

Florida Heat Pump Manufacturing Company is offering a free, all-expenses-paid trip to Las Vegas for HVAC dealers that sell at least 20 units this year. Florida Heat Pump is using a ________ promotional strategy.

Push

Red Bull sends out student brand managers to distribute free samples to their peers. Which form of marketing communication is this?

Sales promotion

________ are special incentives or excitement-building programs that encourage consumers to purchase a particular product, typically used in conjunction with advertising or personal selling programs.

Sales promotions

Which of the following is not one of the four major growth strategies marketers typically utilize? - Market penetration - Market Development - Segment Development - Diversification - Product Development

Segment development

Firms can use ________ to bring customers together to share experiences around the products.

Social media

A form of sales promotion that offers prizes based on a chance drawing of entrants' names, ________ do not require the entrant to complete a task other than buying a ticket or filling out a form.

Sweepstakes

Retailing is defined as the set of business activities that

add value to products and services sold to consumers for their personal or family use.

To determine the market potential for its particular product or service, a firm should use

as many metrics as it can obtain

The basic goal of integrated marketing communications is to

communicate the value proposition to the target market.

As part of efforts to stimulate economic development in Africa, the Gates Foundation announced that it would provide cellular phones to farmer cooperatives. The Gates Foundation recognized that problems in ________ exist in many African markets.

communication

Compared to other IMC alternatives, advertising is extremely effective for

creating awareness and generating interest in a product.

The first step in the marketing planning process (developing a marketing plan) is to - identify the segmentation methods to be used. - produce a list of strengths and weaknesses of the firm's past marketing strategies. - establish the overall strategy or objectives. - select target markets. - develop a marketing mix, so that an appropriate segment can later be identified.

establish the overall strategy or objectives

Culture affects

every aspect of consumers' purchase decisions.

When the value of the dollar declines in relation to other currencies, it benefits U.S. marketers who

export goods to other countries

When entering a foreign market, the least risky strategy is

exporting

Even the best marketing communication can be wasted if the sender does not first

gain the attention of the consumer

To get us to remember their ad and the product or brand in the ad, advertisers must first

get our attention

One goal of any marketing communication is to

get the right message to the right audience through the right media.

Of the five strategies for entering new markets, direct investment creates the

greatest potential risk

Kyle is the head of marketing for a nonprofit agency that supports the arts. She just received the go-ahead from her board of directors to conduct the agency's first-ever advertising campaign. Her first step will be to

identify the target audience

When comparing the various communication channels available to marketing professionals, it becomes apparent that

no single channel is better than another channel.

Sales promotions include all of the following except

online ads

Samantha is charged with assessing her company's external environment as part of a SWOT analysis. Samantha will study her company's - Strengths and weaknesses - Sales history - Pension plan - Product specifications - Opportunities and threats

opportunities and threats

When Ford Motor Company decided to sell the Fiesta—in the same form and design—around the globe, instead of selling different versions in different countries, this was part of Ford's global ________ strategy.

product

Actor Sissy Spacek once objected to a series of movie scenes that included her smoking a certain brand of cigarettes. She was probably objecting to a ________ arrangement the film company had made with an advertiser.

product placement

Reminder advertising is primarily used to

prompt repurchase of a product

Which of the following is true of marketing? - Marketing affects various stakeholders - Marketing plays no role in creating value - Marketing is about satisfying the company's needs and wants - Marketing requires place, product, promotion, and perception designs - Marketing is performed by organizations, not individuals

Marketing affects various stakeholders

An emotional appeal aims to satisfy consumers' emotional desires rather than their utilitarian needs.

True

To build relationships, firms focus on the lifetime profitability of the relationship, not how much money is made during each transaction. - True - False

True

Understanding the marketplace and a customer's needs and wants is fundamental to marketing success. - True -False

True

Neville is trying to create an advertising message that tells consumers how his company's cable and Internet services differ from other alternatives in the market. Neville is trying to create a(n)

unique selling proposition