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UBC Real Estate Licensing Exam > Chapter 7.3: Marketing And Advertisememt > Flashcards

Chapter 7.3: Marketing And Advertisememt Flashcards

1
Q

Model 1 - Shopping Behaviour Model

4 types of Goods

A

1) convenience goods
2) shopping goods
3) speciality goods
4) unsought goods

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2
Q

Convenience goods

A

Frequent purchases

Such as groceries

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3
Q

Shopping goods

A

Products and services that the consumer purchases, only AFTER they have made comparisons based on price, quality, style, colour, and service quality

Such as real estate services, homes, cars, and appliances

The thing you don’t spontaneously pull the trigger on but shop around for

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4
Q

Speciality goods

A

Some characteristics causing the consumer to want that particular product or service and no other substitute

Typically high priced, complex, and / or unusual

They can be a physical product, such as a Ferrari or lambo, or the services of a highly skilled professional

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5
Q

Unsought goods

A

Products or services that potential consumers do not necessarily want or know about, or that are purchased based on fear or as a form of precaution

Such as life insurance or fire extinguisher

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6
Q

Of the Model 1, 4 types of goods, which one requires the least amount of effort

A

Unsought goods!

As you don’t necessarily want or know about these

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7
Q

Of the Model 1, 4 types of goods, which one requires the most effort

A

Specialty goods!

As they are typically high priced items, complex, and are unusual items

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8
Q

List the Model 1, 4 types of goods, in order of least effort to most effort

A
  • unsought goods
  • convenience goods
  • shopping goods
  • specialty goods
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9
Q

Mode 2 Process Model of Buying Behaviour 4 needs / stages

A

Felt need

The pre-purchase activity stage

The purchase activity stage

The post-purchase activity stage

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10
Q

Felt need

A

The initial need or trigger that starts the buying process

Examples: change in the family life cycle (starting a family, change leaving home, retirement, divorce), job promotions or layoffs, financial difficulties

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11
Q

The pre-purchase activity stage

A

The consumer is gathering information and becoming knowledgeable about the product or service

Examples: visiting open houses, talking with friends

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12
Q

The purchase activity stage

A

In real estate, involves the negotiation and signing of the listing agreement

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13
Q

The post-purchase activity stage

A

Some consumer experience feelings of anxiety, regret, and doubt regarding their decision, particularly after making a major purchase such as a home

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14
Q

____________________: the position a product or service holds within its consumers mind

A

Product positioning

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15
Q

What is the marketing concept

A

Focusing on the clients NEEDS and using need satisfaction as the starting point for the development of a marketing program

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16
Q

What is the concentrated marketing / niche marketing

A

A firm selected a relatively small target market, and then focusses its entire effort on satisfying the needs of this target market

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17
Q

What is the marketing mix

A

The four P’s

Product, place, price, promotion,

The product or service that is being offered

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18
Q

Personal selling is best classified as

A

Face to face communication

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19
Q

_______________ the aim of enhancing the image and reputation of a business

A

Public relations (PR)

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20
Q

Publicity is what?

A

Such as having articles in the local newspapers

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21
Q

Promotional mix is what?

A

The proper BLENDING of components to satisfy the needs of the target market and to accomplish the desired promotional objectives

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22
Q

What is part of the promotional mix?

A

Personal selling, advertising, public relations, sales promotion, and publicity

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23
Q

_________________: defined as the theme of a personal business, encompassing a variety of attributes that distinguish a license from competitors

A

Personal brand

Example: Starbucks logo

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24
Q

What are the 2 types of sources

A

1) informal sources

2) formal sources

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25
Q

Informal sources of communication include what?

A

Family and friends

Have great credibility

Use word of mouth

26
Q

_________________: powerful form of advertising that is particularly effective in real estate

A

Word of mouth

27
Q

Formal sources of communication include what?

A

Personal selling, direct mail, telemarketing, and advertising by individuals

28
Q

Formal sources of communication are often perceived as being _______________ and not necessarily acting in the best interest of the _______

A

Biased

Receiver

29
Q

Formal sources are not nearly as powerful as messages conveyed through _______________

A

Informal sources

30
Q

Advertising

Print and digital advertisement consist of 5 elements, what are they?

A
  • focal point
  • balance
  • headlines
  • signatures
  • copy
31
Q

____________________: readers eyes first focus on _________ position and then move upward and to the right

A

Focal point

10 o’clock

32
Q

The two types of balance

A

Formal

Informal

33
Q

Formal balance

A

Symmetrical arrangements

34
Q

Informal arrangements

A

Non-symmetrical arrangements

35
Q

________________: the most important part of advertisement

A

Headlines

36
Q

Print and digital advertisements usually end with _____________

A

Signatures

Company name, trademarks

37
Q

___________: the text of advertisement

A

Copy

38
Q

Do advertisements always end with a call for action?

A

No! They don’t need to

39
Q

__________________: unconventional ways of pursuing conventional goals

A

Guerrilla marketing

Can rely on low budget approaches based on ingenuity, cleverness, and surprise

40
Q

Communicating the Value of the Services

________________________ in the presentation, as this can provide evidence of performance

A

Pay attention to details

41
Q

Communicating the Value of the Services

__________________________ by including photos, virtual walk-throughs, or client testimonials

A

Turn intangibles into tangibles

42
Q

Communicating the Value of the Services

Clearly spell out the ___________ and ___________ that are being offered

A

Services and benefits

43
Q

Communicating the Value of the Services

Keep the seller fully informed throughout the _________________, explain the marketing program for the property

A

Sales process

44
Q

Communicating the Value of the Services

Focus on building ____________

A

Repeat business

45
Q

Communicating the Value of the Services

Always ensure ______ and ________

A

Trust and respect

46
Q

Communicating the Value of the Services

Ask satisfied consumers for a ____________________ or a ___________

A

Letter of recommendation or a testimonial

47
Q

Communicating the Value of the Services

After making the listing presentation, ____________________, even if the seller doesn’t communicate immediately

A

Stay in contact!

48
Q

What is the number one mistake realtors make on advertisement?

A

Failing to display the name of the brokerage

49
Q

Which of the following correctly less goods from the least amount of shopping effort required to the most amount of shopping effort required

A

Unsought goods, convenience goods, shopping goods, specialty goods

50
Q

The shopping behaviour model defines shopping goods as

A

Goods purchased by the consumer only after having made comparisons of competing goods or services on the basis of price, quality, style, color, and service quality

51
Q

In the shopping behaviour model, which of the following is not a main classification

A

Superior goods

52
Q

In marketing, the initial trigger that starts the buying process is known as

A

A felt need

53
Q

The position a product or service holds within its consumers minds is best known as which of the following options

A

Product positioning

54
Q

The promotional mix is a blend of

A

Publicity, sales promotion, public relations, advertising and personal selling

55
Q

The marketing mix consists of

A

The 4 P’s

Product, place, promotion, and price

56
Q

Focussing on clients needs and using satisfaction as a starting point for the development of a marketing program, is known as which of the following options

A

The marketing concept

57
Q

Which of the following is defined as a marketing initiative that involves face-to-face communication with a potential consumer

A

Personal selling

58
Q

Which of the following message sources would be considered the most credible

A

Word of mouth

59
Q

Which of the following options is defined as the theme of a personal business, encompassing a variety of attributes that distinguish a licensee from competitors?

A

Personal brand

60
Q

Which of the following statements regarding print advertisement is false

A

Advertisements always end with a call for action

61
Q

What should the following statements regarding print advertisements is true

A

The headline is the single most important part of the advertisement

62
Q

Guerilla marketing refers to

A

Is considered unconventional and relies on ingenuity and surprise

UBC Real Estate Licensing Exam (24 decks)

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