Exam 3 Flashcards
Categorizing consumer needs is a rigorous task we call segmentation analysis.
T/F
True
It’s not neccessary for brands to craft their product mix in various sizes, shapes, colors, forms, and usage occasions to specifically meet consumers needs and their expectations, resulting in maximized brand appeal. One size can fit all.
T/F
False
Through its product miz strategy, Band-Aid was able to target different usage occasions.
t/f
True
Marketers should slice their consumer segments into tiny benefit slices and create a product for each of them specifically.
T/F
False
A fighter brand does the following
mission is to attack top competitors
are a low-profile secret weapon in the brand arsenal
exist to wreak havoc on competition
not intended to develop consumer loyalty
Where your product is sold, and how it is displayed, creates a powerful communication message about your brand in the mind of consumers.
t/f
True
When choosing a distribution strategy, match brand image with the consumer perception of the potential distribution point to find those channels that enhance and synergize with your product identity.
t/f
True
“Ubiquity” means your product is very exclusive, retailers only
t/f
False
“exclusivity” distribution means to have a specific place in the store that is exclusive to your products
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false
Defining the kind of outlets where you want to sell your products is called a “channel strategy”.
t/f
True
Smart marketers make variations in their product between distribution channels to align with that channels strengths.
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True
Products that are placed on shelves “in the consumer strike zone” have an 85% greater chance of being purchased than those shelved higher or lower.
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True
A blocking scheme is nothing more than designing the way you want the products to be displayed on the shelf. A good blocking scheme will increase sales and call attention to your products.
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True
Top marketers try to influence everything associated with the display and sale of their product. Lighting, ambiance, and product displays in the retail environment are all powerful marketing tools that can directly increase the appeal of your product to consumers and ultimately increase sales.
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True
What does “big head and long tail” mean?
250 items make up over 80% of a grocer’s sales
in a typical grocery store there are over 30,000 items
the other 29,750 items are the “long tail”
contextual targeting
delivers relevant advertising to users from the type of content they consume online
pay per click
pay google only if the customer clicked on your listing
search engine optimization
the means by which you get a high organic search listing
real time bidding
google’s auction system
paid search
google typically allows 4 companies to be shown in these search listings
organic search
search listings appear below the paid search listings
About 95% of all Pay-Per-Click (PPC) online advertising is sold and managed through Google or Facebook
t/f
True
The goal of the Google Display Network is simple: to bring the advertisers’ message to the right customers wherever they are online.
t/f
True
Programmatic advertising refers to the process of purchasing ad space via software, relying on complex algorithms to deliver ads contextually.
t/f
True
pinterest is an example of a walled garden
t/f
true
What is it called when you buy 10,000 advertisement views, and they show your ad 10,000 times and you pay for that, regardless of if it created any clicks on your ad.
direct buy
reservation
pay per view
Pay-Per-View digital ads are a mass marketing tactic to generate advertising reach and frequency.
t/f
true
Digital advertising can serve two purposes:
1. Generating Demand by creating broad exposure of your product or service offering.
2. Harvesting Demand by retargeting those who have shown interest in some form online.
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true
A study done by the Nielsen Company in Canada found that only about 15% of all contextual ads are actually fed to someone in the market to buy. So even though it’s a good system, it’s far from perfect.
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true
Facebook takes up 22% of the time Americans spend on mobile devices, with users spending on average 20 minutes on the site each day.
t/f
true
Social media marketing refers to the process of gaining website traffic or brand attention through social media sites.
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true
A study of Facebook users found the people who said it was permissible for brands they “like” to send them marketing messages on the platform, but they only want to hear from them once a week or once a month at the most, not several times a day or even daily.
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true
When asked what would motivate them would follow a brand or company on social media, the #1 answer is to GET A DISCOUNT!
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true
What are the important metrics you’d want to know when doing an email blast to your customer list?
conversion rate number of new customers bounce rate click through rate number of returning customers open rate
The simple rule for effectively using social media for marketing is this. Ask yourself, is this message _________, _________, and __________. It has to be two of three.
timely
relevant
actionable
The top four content categories watched by YouTube users are comedy, music, entertainment/pop culture, and “how-to” videos.
t/f
true
Have you ever looked at your Facebook feed and saw an article about something that interests you, and you clicked on it? It took you to an article about a product or service clearly advertising, but it didn’t seem like it?
What is this type of advertising called?
native advertising
Instead of pitching your products and services, you are providing truly relevant and useful content to your prospects and customers to help them. ____________ marketing helps raise awareness and educate consumers.
content
What percentage of your total annual marketing budget should be allocated to pay to your advertising agency - their monthly retainer, their markup on materials developed, and their buying agency commission?
20%
If you try to make the agency deliver on too-short timing, you increase the chance you’ll get half-baked ideas. Don’t try to rush greatness. Most good campaigns take 6 to 8 months of development.
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true
When critiquing the advertising agency creative presentations, the first comment should always be a strategic evaluation of whether the concept delivers the brand positioning strategy – target audience, benefit, and reason why.
t/f
true
World-class advertising always has these commonalities:
it touches an emotion
the product is the hero, or the object of desire
the ad is presented in a relevant yet unexpected way
six deadly sins of advertising
greed, pride, envy, wrath, sloth, gluttony
greed
their product claims are so outrageous they cannot be believed
pride
they like to see their name and logo in conspicuous places
envy
they imitate an existing campaign instead of carving out their own unique identity
wrath
angry and accusatory advertising
sloth
they try to be trendy when they are not
gluttony
Some brands gorge themselves on pretty pictures and affecting imagery without giving any consideration to whether those images provide any real sustenance for the brand.
Gross Ratings Points (GRP’s) are a calculated by multiplying what two numbers?
reach
frequency
What are the two data sources The Nielsen Company uses in their TV Ratings system?
tv meters
tv viewing diaries
What are the four important TV ratings periods called?
sweeps
february, may, july, november
What are the elements in the Three Ingredients of Greatness in Consumer Promotions?
They make you believe you have a good chance of winning
the contest offers a unique, desirable prize that only you can offer
they make it easy to enter
What are the three types of public relations?
Corporate
Defensive
Marketing
A great marketing PR initiative can add significant value in free publicity to augment paid marketing support.
t/f
true
A great PR plan reinforces some aspect of the brand positioning strategy – the benefits, the “reason why”, or the brand personality – in a unique and interesting way.
t/f
true
cashback offers
Need to react fast? Cashback offers are a great way to maximize sales in the short term.
On-Pack Premiums
Attach a sample of your product to another top-selling product. This encourages trial and increased consumption.
collect and win
Increase purchase frequency with a reward only redeemable by collecting enough bar codes, stamps, or coupons.
instant win
Drive sales of items with immediate consumption.
product sampling
The classic “try-it, you’ll like it” approach is a tried and true method for overcoming reluctance to buy a new brand.
bonus offers
Buy One, Get One Free can give you an edge in the market.
multipacks
Packaging multiple products into one easy to select pack (preferably discounted) can quickly add volume to sales figures.
trial size
Encourage consumers to give it a try with a low-cost, one use package.
buy now, pay later
Deferred payments are a successful way to generate sales, especially for higher-priced items.
continuity promotions
ones that require a series of purchases
proprietary promotions
offer the consumer something highly desirable that they can only get through your brand.
What is the name of the congressional act that stated manufacturers must treat all retailers - big and small - equally and fairly?
Robison-Patman Act
What does MDF stand for?
Marketing Development fund
When there is marketing activity for a brand at a retailer - a “sale” price reduction, an end-cap display, an ad in their newspaper ad - how often is that paid for out of MDF funds?
100% of the time
normal every-day shelf price in store marketing activity
no marketing activity - no volume increase
Feature & Display (sale price and display) in store marketing activity
13X increase
Display only (regular price) in store marketing activity
4X increase
Feature only (sale price - no display) in store marketing activity
7X increase
In-store Instant Coupons have how high of a redemption rate?
90%
What is the average redemption rate for a coupon placed in the Sunday newspaper?
2%
Use in-store coupons if you are the #3 brand or lower in the competitive market share race. Only then is it likely that more new users are being converted than your regular purchasers using it and getting an unexpected deal.
t/f
true
Retailers love it when manufacturers bring them account-specific promotions.
t/f
True
TV stations and radio stations are great at developing third-party promotions. When you have the triumvirate of a media partner, retail outlet, and consumer brands, you have an extremely powerful marketing combination!
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true
To win at trade promotions, you must create ways for your product to gain more in-store marketing activities than your competitors on a calendar basis. It’s all a numbers game. If you can get more frequent in-store activity than they do, you will win!
t/f
true
