Chapter 18 - Intro To Marketing And Technology

Question 1

For important transactions-related data, it is advisable to retain hard copies

True or false

True, especially if they contain notation, signatures or initials.

Question 2

Define niche marketing?

Niche marketing is focusing an entire marketing effort on a relatively small, but active and growing, target market.

Question 3

Misleading advertising or similar deception practices are dealt within the provisions of the COMPETITION Act.

Question 4

Face to face communication with a potential customer is known as PERSONAL SELLING.

Question 5

The 4 Ps of marketing are:

Product

Place

Price

Promotion

Question 6

What are components of the promotional mix?

Personal selling

Advertising

Sales promotion

Publicity

Public relations

Question 7

Pens, gifts, calendars, and note pads are examples of SALES PROMOTIONS

Question 8

The activity that focuses on building online communities for those who have common interests is known as:

Social networking

Question 9

Describe email etiquette

Email etiquette includes, but is not limited to the following:
Answering emails promptly 
Avoiding grammatical errors 
Ending messages with your name 
Keeping messages concise
Starting messages with t a salutation 
Ending messages with your name 
Keeping messages concise 
Avoiding all CAPS
Avoiding cliche lines.

Question 10

The PERSONAL INFORMATION PROTECTION ACT regulates the way private organizations collect, use keep secure and disclose personal information in BC.

Question 11

A BLOG is a means of publishing information on the web, usually composed of regular entries of commentary, with the ability for readers to leave comments.

Question 12

Software that is designed to streamline the application process between mortgage brokers and lenders is known as:

Mortgage broker origination software
MBOS

Question 13

A mortgage broker must not disclose information regarding a client or a transaction to another person unless the disclosure has been authorized by the client or the disclosure is required by law.

Question 14

Publicity is free media coverage of the company or its products.

Question 15

In the shopping behaviour model, real Estate services would be a good example of a SHOPPING good.

Question 16

What are four distinct phases for buyer behaviour?

Felt Needed

Pre-purchase Activity

Purchase Activity

Post Purchase Activity

Question 17

To be effective, digital signatures must be “unforgettable” and therefore use a technology called CRYPTOGRAPHY

Question 18

What does the internet domain.com imply?

.com implies that the domain is meant for commercial purposes.

Question 19

Describe web libraries

Web libraries are websites that collect, categorize and index large amounts of information.

Question 20

What does SMART stand for when we say that the advertising objective should be SMART?

Specific

Measurable

Achievable

Relevant

Timely

Question 21

A FIREWALL is an integrate collection of security measures designed to prevent unauthorized electronic access to a networked computer system.

Question 22

Shopping Behaviour Model #1. KNOW THE DEFINITIONS FOR EXAM

Convenience Goods - frequent purchases like groceries

Shopping (around) Goods - products/services people buy only after comparisons. Based on price, quality, color, House, cars

Specialty Goods — some characteristics consumer wants in product — no substitution available. Like a Ferrari

Unsought Goods — products or services that consumers do not necessarily want like life insurance or fire extinguishers.

Question 23

Which of the following correctly lists least effort to most amount of time?

UCSS

1. Unsought Goods — do not necessarily want or want to know
2. Convenience Goods — frequent purchases like Groceries
3. Shopping Goods. — you shop around for these goods, make comparisons on quality you like
4. Specialty Good — typically high priced, complex, and or unusual items

Question 24

Buyer Behaviour Model #2

E 1. Felt Need - trigger that starts buying process

2. Pre-purchase activity— gathering information and becoming knowledgeable
3. Purchase Activity Stage — involves the negotiation and signing of the listing agreement
4. Post-purchase Activity— feelings of anxiety, regret, and doubt.

Question 25

Product Positioning — the position a product or service holds within its consumers mind.

Question 26

Marketing Concept (most questions in test)

1. Marketing Concept. - focus on clients needs. Ex. Like focus on high end homes
2. Concentrated Marketing (niche marketing) — selects relatively small market.

Then you decide how to Market your Niche market.

3. Marketing Mix - Product, Place, Price, Promotion.
4. Promotional Mix — proper blending of components to satisfy the needs of the target market. Personal selling, advertising, public relations, sales promotions

Question 27

Communication Process

1. Personal Brand - the theme of your personal business
2. Communication Messages

a) informal sources.
- one of best way to sell
— word of mouth is one of the most powerful way to promote yourself

b) Formal Sources

—personal selling, direct mail, telemarketing, and advertising by individuals

Question 28

Advertising

Print and Digital Advertising

— focal point. Readers eye focus on certain part of Ad
— Balance
— Headline 
— Signatures your company 
— copy. - the actual text of ad.

Question 29

Gorilla Marketing
- catches peoples attention. Element of surprises
— something unconventional and relies on ingenuity and surprise
Ex. A big Red button in the middle of a busy street.

Question 30

Canada’s Anti-Spam Legislation (CASL)

Email to client, unsubscribe to emails. Getting approved before sending email.

Question 31

Electronic Transactions Act

— written docs or signatures included if electronic

— legally binding contract may be formed by an offer or an acceptance communicated through electronic means

— Wills, trusts. Deeds POAs excluded from the Act. Including transfers of interest in land.

Question 32

CRYPTOGRAPHY Allows us to ENCRYPT sensitive data. Encrypted data is unreadable

Question 33

Smart Card - has embedded computer chip,

Question 34

Personal information Protection Act
— requires private sector organizations to obtain consent of personal information
— info can only be used for the agreed upon purposes
— PIPA requires organizations to destroy or erase personal information that is no longer required.

10 Principles

1. Be Accountable
2. Identify the purpose
3. Limit Collection
4. Limit Use, disclosure and Retention
5. Be Accurate
6. Obtain Consent
7. Be Open
8. Provide Recourse
9. Use Appropriate Safeguards
10. Give Individual Access

Question 35

Marketing Concept
— focus on clients needs

Choose Target Market you want to Concentrate
— could a certain segment. Niche market- downtown west end.

Marketing Mix
Product, Place, Price, Promotion

Promotional Mix. - The BLENDER — put all of these steps into action — decide on personal selling or public relations, Publicity and Advertising