Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

MKT 201 > EXAM 3 > Flashcards

EXAM 3 Flashcards

1
Q

content marketing

A

creating, inspiring, and sharing brand messages and conversations with and among consumers across a fluid mix of paid, owned, earned, and shared channels

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

IMC- integrated marketing communication

A

carefully integrating and coordinating the company’s many communications channels to deliver a clear, consistent, and compelling message about the organization and its products

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

AIDA model

A

the message should get Attention, hold Interest, arouse Desire, and obtain Action

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

9 elements of the communications process

A

sender, encoding, message, media, decoding, receiver, response, feedback, noise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

3 types of appeals

A

rational appeals (self-interest), emotional appeals, moral appeals

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

personal communication channels

A

2 or more people communicating directly with each other

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

word-of-mouth influence

A

the impact of personal words and recommendations of trusted friends, family, associates and other consumers on buying behavior

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

buzz marketing

A

cultivating opinion leaders and getting them to spread information about a product or service to others in their communities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

4 budget methodologies

A

affordable method, %-of-sales method, competitive parity method (matching competitors), and the objective-and-task method (setting by defining objectives, determining the tasks to achieve, and estimating these costs)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

push vs pull strategies

A

push- using sales force and trade promotions to push product to channel members, who promote to consumers
pull- spending a lot of consumer advertising to create a demand vacuum, pulling the product through the channel

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

4 decisions to make when developing an advertising program

A

setting advertising objectives, setting advertising budget, developing advertising strategy, evaluating advertising campaigns

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

4 types of advertising objectives

A

informative, persuasive, comparative, reminder

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

comparative advertising

A

directly or indirectly comparing one brand with another

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Madison & vine

A

the merging of advertising and entertainment in an effort to break through the clutter and create new avenues for reaching customers with more engaging messages

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

creative concept

A

the compelling big idea that will bring an advertising strategy message to life in a distinctive, memorable way

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

3 characteristics of advertising appeals

A

meaningful, believable, distinctive

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

9 types of execution styles

A

slice of life, lifestyle, fantasy, mood/image, musical, personality symbol, technical expertise, scientific evidence, testimonial evidence/endorsement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

reach, frequency, impact

A

reach- percentage of people in a target market exposed to the ad
frequency- how many times the average person in the target market is exposed to the ad
impact- qualitative value of message exposure through the given medium

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

media vehicle selection criteria

A

must consider the medium’s impact, message effectiveness, and cost; want a mix of paid, owned, earned, and shared media

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

alternative media

A

alternative forms of advertising that are less costly and more highly targeted

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

measuring communication effects

A

measuring effects & return on investment- pre & post evaluations of the effects on consumers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

6 PR functions

A

press relations/agency, product publicity, public affairs, lobbying, investor relations, development

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

6 responsibilities of the salesperson

A

the salesperson represents the company and performs one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

team selling

A

using people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

sales force automation systems

A

computerized, digitized sales force operations that let salespeople work more effectively anytime, anywhere

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

social selling

A

the use of online, mobile, and social media to engage customers, build stronger customer relationships, and augment sales performance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

7 steps of the selling process

A

prospecting and qualifying, pre-approach, approach, presentation and demonstration, handing objections, closing, follow-up

28
Q

value selling

A

demonstrating and delivering superior customer value and capturing a return on that value which is fair to the customer and the company

29
Q

8 types of consumer promotions

A

samples, coupons, rebates, price packs, premiums, advertising specialties, point-of-purchase promotions, and contests, sweepstakes and games

30
Q

event marketing

A

allows companies to create their own brand marketing events or serve as sole or participating sponsors of events created by others

31
Q

benefits of direct marketing

A

for buyers, direct marketing is convenient, easy, and private
for sellers, it is low-cost, efficient, and good for building relationships and targeting small groups

32
Q

marketing website

A

engages consumers in an interaction that will move them closer to a direct purchase

33
Q

brand community websites

A

presents brand content that engages consumers and creates customer community around a brand

34
Q

viral marketing

A

the digital version of word-of-mouth marketing; involves creating videos, ads, or other marketing content that is so infectious that customers will want to pass it along to their friends

35
Q

advantages and disadvantages of social media marketing

A

advantages: targeted, personal, interactive, real-time, cost effective, engaging, high sharing capabilities
disadvantages: results are hard to measure, lack of control

36
Q

mobile marketing

A

marketing messages and promotions delivered to on-the-go consumers through their mobile devices

37
Q

internet marketing concerns

A

internet fraud: phishing (identity theft), online and digital security, and access by vulnerable or unauthorized groups

38
Q

strategic group

A

a group of firms in an industry following the same or a a similar strategy in a given target market

39
Q

customer value analysis

A

an analysis conducted to determine what benefits target customers value and how they rate the relative value of various competitors’ offers

40
Q

good or bad competitors

A

good: play by the rules of the industry
bad: break the rules, try to buy share rather than earn it, take large risks, and play by their own rules

41
Q

value innovation

A

finding “blue oceans” of uncontested markets to occupy, creating value and rendering rivals obsolete

42
Q

3 approaches to marketing strategy

A

entrepreneurial marketing, formulated marketing, intrapreneurially marketing

43
Q

3 value discipline strategies

A

operational excellence, customer intimacy, product leadership

44
Q

second-mover advantage

A

the challenger sees what the leader has done successfully and improves on it

45
Q

market challenger strategies

A

full frontal attack- matching the competitor’s products, advertising, price, and distribution efforts, attacking their strengths
indirect attack- attacking the competitors weaknesses or the gaps in the competitor’s market coverage

46
Q

market nicher strategies

A

finding safe, profitable niches that are big enough with growth potential that it can serve effectively and is of little interest to major competitors

47
Q

different customer-competitor orientations

A

competitor-centered companies, customer-centered companies, and market-centered companies

48
Q

risks of international trade

A

may face highly unstable governments and currencies, restrictive government policies and regulations, and high trade barriers, corruption, and a dampened global economic environment

49
Q

global firm

A

operates in more than one country, gains marketing, production, R&D, and financial advantages that are not available to purely domestic competitors

50
Q

6 elements of the global marketing environment

A

international trade system (quotas, tariffs, exchange controls), WTO (world trade organization), regional free trade zones, economic environment, political-legal environment, and cultural environment

51
Q

key factors of economic environment

A

industrial structure and income distribution

52
Q

3 types of industrial structures

A

subsistence economies, emerging economies, industrial economies

53
Q

cultural environment

A

sellers must understand how consumers in other countries think about certain products, and how business norms and behaviors differ
marketing can impact cultures- americanizarion

54
Q

3 different market entry strategies

A

exporting, joint-venturing, and direct investment

55
Q

4 types of joint ventures

A

licensing, contract manufacturing, management contracting, joint ownership

56
Q

communication adaptation

A

fully adapting advertising messages to local markets

57
Q

sustainable marketing

A

calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs

58
Q

6 social criticisms of marketing

A

high prices, deceptive practices, high-pressure selling, shoddy or unsafe products, planned obsolescence, and poor service to disadvantaged customers

59
Q

perceived obsolescence

A

companies changing consumer concepts of acceptable styles to encourage more and earlier buying

60
Q

social costs

A

businesses overselling private goods at the expense of public goods

61
Q

environmental sustainability

A

a management approach that involves developing strategies that both sustain the environment and produce profits for the company; progress can be pollution prevention, product stewardship, new clean technology, or a sustainability vision

62
Q

cradle-to-cradle

A

also known as DFE (design for environment); involves thinking ahead to design products that are easier to recover, reuse, or recycle and developing programs to reclaim products at the end of their lives

63
Q

societal marketing

A

making marketing decisions based on considering consumers’ wants and interests, the company’s requirements, and society’s long-run interests

64
Q

societal classifications of products

A

classified according to immediate satisfaction and long-run consumer benefits

deficient: neither
pleasing: high immediate, not long-run
salutary: low immediate, good long-run
desirable: both

65
Q

5 sustainable marketing principles

A

consumer-oriented marketing, customer-value marketing, innovative marketing, sense-of-mission marketing, societal marking

66
Q

6 ethical decision making tests

A

publicity test, moral mentor test, admired observer test, transparency test, person in the mirror test, golden rule test

67
Q

competitor views

A

industry point of view vs market point of view (companies trying to satisfy the same customer need or service the same customer group)

MKT 201 (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions