marketing final

What are infomercials?

- short for "informational commercials," are television programs designed to promote and sell products or services in a format that resembles a television program rather than a traditional commercial.

How to control costs in personal selling

- the objective of the buyer may by to minimize cost or facilitate the selection of a quality product, while the seller often want to maximize sales and profits

mass communication

- Mass communication refers to the process of transmitting information to a large audience through various channels simultaneously. It involves the creation, production, and distribution of messages intended for widespread dissemination to the general public or specific segments of society. Mass communication channels include newspapers, magazines, television, radio, film, books, social media, websites, and other digital platforms.

What group does the personal shopper approach best work for?

- customers with very little time for shopping

Which of the following is a reason for the increasing popularity of the integrated marketing communications concept?

- marketing communications concept? o More selectively segmented markets have replaced the traditional broad market groups to which marketers promoted in the past.

Understand personal selling and when it is important

- personal selling is very slow in communicating a message to a large audience

What is a promotional strategy?

- A plan for the optimal use of promotional elements—such as advertising, public relations, personal selling, sales promotion, and social media—is known as a

What is a promotional plan?

- A promotional plan is a strategic document outlining the specific steps and activities a business or organization will undertake to promote its products, services, or brand to its target audience.

What is crisis management?

- Crisis management refers to the process of effectively handling and resolving emergencies, disasters, or unexpected events that have the potential to disrupt or harm an organization's operations, reputation, or stakeholders. It involves proactive planning, swift response, and strategic communication to mitigate the impact of the crisis and restore normalcy as quickly as possible.

what is a competitive advantage

- Is a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition

What can companies do to remain relevant?

- personal selling, social media, and technology

What are public relations?

- the strategic communication process that builds mutually beneficial relationships between organizations and their target audience, which could include customers, employees, investors, the media, government entities, and the general public. PR aims to create and maintain a positive public image for the organization and its products, services, or brand.

Know the steps of the selling process

1. prospecting/qualifying 2. pre-approach 3. approach 4. presentation and demonstration 5. handling objections 6. closing 7. follow-up

- Apple's growth strategy focuses on the individual customer with specific needs. Anyone with an Apple device has to register it using an Apple ID. An Apple ID can access Apple services like the App Store, Apple Music, iCloud, iMessage, FaceTime, and more. These unique IDs capture information and make recommendations based on what customers like. For users, this is convenient. For Apple, it's a tool that offers insights into what customers like, and it can be used for target marketing. Apple uses _______.

Customer Relation Management

- Oddo's Pizza is a restaurant that recently implemented a new system to identify and gather information about its regular customers. It rewards these customers by giving them gift coupons and cash prizes. This practice is an example of _______.

Customer Relationship Management

- In Midland, Texas, the Young Professionals' Group is very active. The group hosts get togethers for professionals aged 40 and under. College grads who join the Young Professionals' Group find it to be an excellent way to find out about potential clients from fellow members. Making business contacts and new acquaintances in a group like the Young Professionals' Group is called _______.

Networking

- Direct Recruitment is a direct mail marketing firm that sends out handwritten birthday cards to clients and associates every year. This simple, personal touch helps clients feel like Direct Recruitment cares about them as people rather than simply consumers. This is an example of _______, a sales practice that involves building, maintaining, and enhancing interactions with customers to develop long-term satisfaction through mutually beneficial partnerships.

adaptive selling

- The term that describes the phenomenon in which spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing returns is _______.

advertising response function

steps of AIDA

attention, interest, desire, and action

- The researchers at Superior Coffee Inc., a coffee manufacturing company, developed a new variety of high-quality ground coffee. The new variety was priced at a comparatively lower price than the other varieties of coffee available in the market. Therefore, the advertisements for the product stated, "The highest quality coffee does not have to be expensive." This is an example of communicating a product's _______.

competitive advantage

- Cleaning eyewear, in terms of time and money spent, is not cost effective, and consumers want something better. With more than 1.5 million sold, Peeps Carbon Eyeglass Cleaner cleans eyeglasses, sunglasses, and reading glasses. The carbon microfiber formula is the same lens cleaning technology used by NASA. Marketers have to convince potential customers that Peeps is the best solution to satisfy their eagerness for clean glasses. This example represents the _______ stage of the AIDA model.

desire

- Which of the following form of promotion is generally more prevalent during the early stages of the product life cycle?

informative promotion

- Best Buy trains its sales staff on Dell computers as well as on Apple computers and also on customer service etiquette. A salesperson at Best Buy speaking with a customer is an example of _______.

interpersonal communication

- Which of the following statements is true of an effective promotional mix?

it meets the needs of a target market

- J.C.Penney, the more than 100-year-old department store, filed for bankruptcy. The chain's move came after J. Crew and the Neiman Marcus Group filed for bankruptcy. These actions represented the biggest casualty amid retail closures tied to the COVID-19 pandemic of 2020. In order for companies to remain relevant and sell products in-store and online using a sales force, they must be very effective at all of the following EXCEPT _______.

making business-to-business sales

- _______ is a public relations strategy that involves getting a product, service, or company name to appear in a movie, television show, radio program, magazine, newspaper, video game, video or audio clip, book, or commercial for another product; on the internet; or at special events.

product placement