Chapter 1: The Evolution of Advertising

Question 1

What are the 5 C’s

Answer 1

1. Company
2. Customers
3. Competitors
4. Collaborators
5. Context (strategic)

Question 2

The 4 P’s

Answer 2

1. product
2. Promotion
3. Price
4. Place (Tactical)

Question 3

What is SWOT?

Answer 3

1. Strengths
2. Weaknesses
3. Opportunities
4. Threats

Question 4

What is Market Penetration?

Answer 4

• To increase sales of a firm’s present products in current markets.

Question 5

Market Development

Answer 5

To increase sales by selling current products in new markets.

Question 6

Product Development

Answer 6

Offering new or improved products in current markets.

Question 7

Diversification

Answer 7

Moving into a new line of business.

Question 8

Sales/Revenue Market Share

Answer 8

= Firm sales/total market sales

Question 9

Consumer Decision Making Process

Answer 9

Need recognition > info search > evaluation of alternatives > purchase decision > post purchase behavior

Question 10

4 Basic Need Categories

Answer 10

Control, Esteem, Belonging, Meaningfulness

Question 11

4 Pillars of Segmentation

Answer 11

1. identify
2. Differentiate
3. Interact
4. Customize

Question 12

Segmentation Variables:

Answer 12

Geographic, demographic, psychological, psychographic (lifestyle), sociocultural, behavioral, hybrid

Question 13

Product Assortment

Answer 13

The set of all product lines and individual products that a firm sells.

Question 14

Product Line

Answer 14

A set of individual products that are closely related.

Question 15

Branding

Answer 15

The use of a name, term, symbol or design.

Question 16

Brand Names

Answer 16

A word, letter, or group of words or letters.

Question 17

Trademark

Answer 17

A legal term that includes those words, symbols or marks that are legally registered for us by a single company.

Question 18

5 levels of brand familiarity

Answer 18

Rejection, Non-recognition, Recognition, preference, insistence.

Question 19

5 levels of brand familiarity

Answer 19

Rejection, Non-recognition, Recognition, preference, insistence.

Question 20

Brand Equity

Answer 20

The value of a brand’s over strength in the market.

Question 21

Individual Brands

Answer 21

Separate brand names for each product

Question 22

Generic Brand

Answer 22

Products have no brand other than the identification of their contents.

Question 23

Manufacturer brands

Answer 23

Brands created by the producer

Question 24

What is advertising?

Answer 24

Any paid form of non-personal presentation of ideas, goods, or services by an identified sponsor.

Question 25

Advertising

Answer 25

The spreading of information

Question 26

Promote Sales

Answer 26

The main purpose of every commercial organization is to:

Question 27

Promotional Activity

Answer 27

Any activity towards sales promotion may be called as and advertisement is one of its kind.

Question 28

Which of the following statements about advertising is true?

a) advertising is customized communication.
b) Advertising is usually free.
c) Advertising has an identifiable sponsor

Answer 28

C

Question 29

Since advertising is typically directed to groups of people rather than to individuals, advertising is defined as:

a) a channeled form of communication
b) a subtle medium
c) sponsor-driven

Answer 29

E