Marketing Final

The MOST important factor in successful new-product introduction is:

A good match between the product and market needs

____ is any form of impersonal, sponsor-paid, one-way mass communication.

Advertising

A series of related advertisements focusing on a common theme, slogan, and set of advertising appeals is referred to as a(n):

Advertising campaign

An ____ is a specific communication task that a campaign should accomplish for a specified target audience during a specified period.

Advertising objective

The promotional mix consists of:

Advertising, public relations, sales promotion, personal selling, and social media.

Which of the following would be considered a new product? a. A new product line b. A new-to-the-world product c. An addition to an existing product line d. An improvement or revision of an existing product e. All of these choices

All of these choices

____ is the process of grouping customers into market segments according to the benefits sought from the product.

Benefit segmentation

The set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition is known as a(n):

Competitive advantage

____ evaluate new-product ideas usually before any prototype has been created.

Concept tests

The main function of a promotional strategy is to:

Convince the target customers that a firm's products offer competitive advantages over those of its competition.

Product positioning is the process of:

Creating the desired image of the firm's product.

A marketing method that tracks interaction with customers to optimize customer satisfaction and long-term company profits is referred to as:

Customer relationship management

For communication to be effective:

Marketing managers must ensure a proper match between the message to be conveyed and the target market's attitudes and ideas.

The ____ is the unique blend of product, place, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market.

Marketing mix

____ is defined as a statement of what is to be accomplished through marketing activities.

Marketing objectives

A written document that acts as a guidebook of marketing activities for the marketing manager is known as the:

Marketing plan

____ is the process of planning, collecting, and analyzing data relevant to a marketing decision. The results of this analysis are then communicated to management.

Marketing research

The two major categories of communications are:

Mass and interpersonal.

All of the following are categories used in the Boston Consulting Group's portfolio matrix EXCEPT:

Meat eaters

Television is an example of an advertising:

Medium

A statement of the firm's business based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environmental conditions is known as a(n):

Mission statement

A market is people or organizations that have:

Needs and wants and an ability and willingness to buy.

A(n) ____ links the new-product development process with the objectives of the marketing department, the business unit, and the corporation.

New-product strategy

____ is the process of anticipating events and determining strategies to achieve organizational objectives.

Planning

Which of the marketing mix elements is often the most flexible?

Pricing

Unlike advertising that establishes or maintains a company's identity, ____ advertising touts the benefits of a specific good or service

Product

____ is a marketing strategy that creates new products for present markets.

Product development

The marketing function that evaluates public attitudes, identifies areas within the organization that the public may be interested in, and executes a program of action to gain public understanding is called:

Public relations

Procter & Gamble uses cents-off campaigns, couponing, and free samples to increase sales of Tide detergent. In other words, it uses a ____ promotional strategy.

Pull

____ measures the number of target consumers exposed to a commercial at least once during a specific period, usually four weeks.

Reach

____ occurs when an existing product is targeted toward new market segments. It is another type of new-product development because the product is new to that segment.

Repositioning

____ is a strategy of increasing market share for present products in existing markets.

Market penetration

____ is the process of dividing a market into meaningful groups that are relatively similar and identifiable.

Market segmentation

A(n) ____ is a subgroup of individuals or organizations sharing one or more characteristics that cause them to have similar product needs.

Market segment

A(n) ___ describes and estimates the size and sales potential of market segments of interest to the firm and assesses key competitors in these market segments.

Market opportunity analysis

DAGMAR is an acronym for:

Defining Advertising Goals for Measured Advertising Results.

Marketers use ____ to segment markets because this information is widely available, and factors such as age or gender are often related to consumer purchasing and consumption behavior.

Demographics

Before any creative work can begin on an advertising campaign, it is important to:

Determine what goals or objectives the advertising should achieve.

A ____ is a group of people or organizations that has wants and needs that can be satisfied by particular product categories, has the ability to purchase these products, and is willing to exchange resources for the products.

Market

A firm's mission statement should answer the question, "What products do we produce best?"

False

A series of stages determined by a combination of age, marital status, and the presence or absence of children is known as the:

Family life cycle

____ is a measure of the number of times an individual is exposed to a brand message. It is used to measure the intensity of a specific medium's coverage.

Frequency

Consumers in Louisiana love hot sauce, and Tabasco and Crystal brands are particularly popular there. Consumers in Michigan do not like hot food, so they purchase very little hot sauce. A national chain of grocery stores would likely use ____ segmentation when stocking condiment merchandise.

Geographic

The rate of sales decline during the decline stage of the product life cycle is largely governed by:

How rapidly consumer tastes change or substitute products are adopted.

What are the four basic tasks of promotion?

Informing, persuading, reminding, and connecting

____ is the careful coordination of all promotional activities to produce a consistent, unified message that is customer focused.

Integrated marketing communications

The stages of the product life cycle, in order, are:

Introduction, growth, maturity, decline

Strategic plans require

Long-term resource commitments

____ is a strategy that attempts to attract new customers to existing products.

Market development

____ consists of all marketing activities that stimulate consumer purchasing such as coupons, contests, free samples, and trade shows.

Sales promotion

What is the first step in segmenting a market?

Select a market or product category for study

A ___ is a study conducted by an organization to identify its internal strengths and weaknesses and also examine external opportunities and threats.

Situation analysis

A popular technique for managing a large organization with different technologies and markets is to divide it into:

Strategic business units

_____ is the managerial process of creating and maintaining a fit between the organization's objectives and resources and the evolving market opportunities.

Strategic planning

A(n) ____ is a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges.

Target market

____ is a limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation.

Test marketing

One method used for setting advertising objectives is:

The DAGMAR approach.

Because marketers do not control consumers' comments on social media sites such as Twitter and Facebook:

There is a chance that comments and postings will be negative.

Why do companies with new brands that have a small market share tend to spend proportionately more for advertising and sales promotions compared to those with a large market share for existing products? WHY

To achieve a certain minimum level of exposure to measurably affect purchase habits

A competitive advantage is defined as a unique aspect of an organization that causes target consumers to patronize that firm rather than competitors.

True

A competitive advantage is some unique aspect of a firm's offering, or of the firm itself, that causes target

True

AIDA is an acronym for attention, interest, desire, and action.

True

Advertising is impersonal, one-way mass communication about a product or organization that is paid for by a marketer.

True

Communication is the process by which we exchange or share meanings through a common set of symbols. People also assign meanings to feelings, ideas, facts, and attitudes.

True

Communication to large audiences, usually through a medium such as television or a newspaper, is called MASS communication.

True

Promotion is communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response.

True

Promotion is communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence their opinion or elicit a response.

True

The goal of competitive advertising is to influence demand for a specific brand.

True

The marketing plan is a written document that acts as a guidebook of marketing activities for the marketing manager

True

The product life cycle is a biological metaphor that traces the stages of a product's acceptance, from its introduction (birth) to its decline (death)

True

The promotional mix is the combination of promotional tools used to reach the target market and fulfill the organization's overall goals.

True

A ____ is a desirable, exclusive, and believable advertising appeal selected as the theme for a campaign.

Unique selling proposition

When selecting a test market city, a researcher should look for a city:

Where the demographics and purchasing habits mirror the overall market for the product.

The purpose of market segmentation is to:

enable the marketer to tailor marketing mixes to meet the needs of one or more specific groups

The requirement for a market segment to be responsive means:

the segment identified by a marketer should differ in how it responds to the marketing mix when compared to another segment confronted with the same mix