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