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marketing 327 > FINAL EXAM1 > Flashcards

FINAL EXAM1 Flashcards

1
Q

AIDA concept

A

a model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message; the acronym stands for attention, interest, desire, and action

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2
Q

Advertising

A

impersonal, one-way mass communication about a product or organization that is paid for by a marketer

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3
Q

Communication

A

the process by which we exchange or share meaning through a common set of symbols

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4
Q

Decoding

A

interpretation of the language and symbols sent by the source through a channel

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5
Q

Earned media

A

a category of promotional tactic based on a public relations or publicity model that gets customers talking about products or services

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6
Q

Encoding

A

the conversion of a sender’s ideas and thoughts into a message, usually in the form of words or signs

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7
Q

Interpersonal communication

A

direct, face-to-face communication between two or more people

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8
Q

Mass communication

A

the communication of a concept or message to large audiences

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9
Q

Owned media

A

a new category of promotional tactic based on brands becoming publishers of their own content in order to maximize the brands’ value to customers

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10
Q

Paid media

A

a category of promotional tactic based on the traditional advertising model, whereby a brand pays for media space

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11
Q

Personal selling

A

a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other

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12
Q

Promotional strategy

A

a plan for the optimal use of the elements of promotion: advertising, public relations, personal selling, sales promotion, and social media

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13
Q

Public relations

A

the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance

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14
Q

Sales promotion

A

marketing activities—other than personal selling, advertising, and public relations—that stimulate consumer buying and dealer effectiveness

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15
Q

channel

A

a medium of communication—such as a voice, radio, or newspaper—for transmitting a message

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16
Q

competitive advantage

A

one or more unique aspects of an organization that cause target consumers to patronize that firm rather than competitors

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17
Q

feedback

A

the receiver’s response to a message

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18
Q

integrated marketing communications (IMC)

A

the careful coordination of all promotional messages for a product or a service to ensure the consistency of messages at every contact point at which a company meets the consumer

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19
Q

noise

A

anything that interferes with, distorts, or slows down the transmission of information

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20
Q

promotion

A

communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response

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21
Q

promotional mix

A

the combination of promotional tools—including advertising, public relations, personal selling, sales promotion, and social media—used to reach the target market and fulfill the organization’s overall goals

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22
Q

publicity

A

public information about a company, product, service, or issue appearing in the mass media as a news item

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23
Q

pull strategy

A

a marketing strategy that stimulates consumer demand to obtain product distribution

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24
Q

push strategy

A

a marketing strategy that uses aggressive personal selling and trade advertising to convince a wholesaler or a retailer to carry and sell particular merchandise

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25
Q

receivers

A

the person who decodes a message

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26
Q

sender

A

the originator of the message in the communication process

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27
Q

Comparative advertising

A

a form of advertising that compares two or more specifically named or shown competing brands on one or more specific attributes

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28
Q

Consumer sales promotion

A

promotion activities targeted to the ultimate consumer market

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29
Q

Cost per click

A

the cost associated with a consumer clicking on a display or banner ad

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30
Q

Cost per contact

A

the cost of reaching one member of the target market

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31
Q

Crisis management

A

a coordinated effort to handle all the effects of unfavorable publicity or another unexpected unfavorable event

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32
Q

Frequency

A

the number of times an individual is exposed to a given message during a specific period

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33
Q

Media planning

A

the series of decisions advertisers make regarding the selection and use of media, allowing the marketer to optimally and cost-effectively communicate the message to the target audience

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34
Q

Pioneering advertising

A

a form of advertising designed to stimulate primary demand for a new product or product category

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35
Q

Product placement

A

a public relations strategy that involves getting a product, service, or company name to appear in a movie, television show, radio program, magazine, newspaper, video game, video or audio clip, book, or commercial for another product; on the Internet; or at special events

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36
Q

Public relations

A

the element in the promotional mix that evaluates public attitudes, identifies issues that may elicit public concern, and executes programs to gain public understanding and acceptance

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37
Q

Publicity

A

an effort to capture media attention, often initiated through press releases that further a corporation’s public relations plans

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38
Q

Reach

A

the number of target consumers exposed to a commercial at least once during a specific period, usually four weeks

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39
Q

Sampling

A

a promotional program that allows the consumer the opportunity to try a product or service for free

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40
Q

Trade sales promotion

A

promotion activities directed to members of the marketing channel, such as wholesalers and retailers

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41
Q

advergaming

A

placing advertising messages in web-based, mobile, console, or handheld video games to advertise or promote a product, service, organization, or issue

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42
Q

advertising appeal

A

a reason for a person to buy a product

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43
Q

advertising campaign

A

a series of related advertisements focusing on a common theme, slogan, and set of advertising appeals

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44
Q

advertising objective

A

a specific communication task that a campaign should accomplish for a specified target audience during a specified period

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45
Q

advertising response function

A

a phenomenon in which spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing returns

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46
Q

advocacy advertising

A

a form of advertising in which an organization expresses its views on controversial issues or responds to media attacks

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47
Q

audience selectivity

A

the ability of an advertising medium to reach a precisely defined market

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48
Q

competitive advertising

A

a form of advertising designed to influence demand for a specific brand

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49
Q

continuous media schedule

A

a media scheduling strategy in which advertising is run steadily throughout the advertising period; used for products in the later stages of the product life cycle

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50
Q

cooperative advertising

A

an arrangement in which the manufacturer and the retailer split the costs of advertising the manufacturer’s brand

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51
Q

coupon

A

a certificate that entitles consumers to an immediate price reduction when the product is purchased.

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52
Q

flighted media schedule

A

a media scheduling strategy in which ads are run heavily every other month or every two weeks to achieve a greater impact with an increased frequency and reach at those times

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53
Q

frequent buyer program

A

a loyalty program in which loyal consumers are rewarded for making multiple purchases of a particular good or service

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54
Q

infomercial

A

a 30-minute or longer advertisement that looks more like a television talk show than a sales pitch

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55
Q

institutional advertising

A

a form of advertising designed to enhance a company’s image rather than promote a particular product

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56
Q

loyalty marketing program

A

a promotional program designed to build long-term, mutually beneficial relationships between a company and its key customers

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57
Q

media mix

A

the combination of media to be used for a promotional campaign

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58
Q

media schedule

A

designation of the media, the specific publications or programs, and the insertion dates of advertising

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59
Q

medium

A

the channel used to convey a message to a target market

60
Q

point-of-purchase (P-O-P) display

A

a promotional display set up at the retailer’s location to build traffic, advertise the product, or induce impulse buying

61
Q

premium

A

an extra item offered to the consumer, usually in exchange for some proof of purchase of the promoted product

62
Q

product advertising

A

a form of advertising that touts the benefits of a specific good or service

63
Q

pulsing media schedule

A

a media scheduling strategy that uses continuous scheduling throughout the year coupled with a flighted schedule during the best sales periods

64
Q

push money

A

money offered to channel intermediaries to encourage them to “push” products—that is, to encourage other members of the channel to sell the products

65
Q

rebate

A

a cash refund given for the purchase of a product during a specific period

66
Q

sales promotion

A

marketing communication activities other than advertising, personal selling, and public relations, in which a short-term incentive motivates consumers or members of the distribution channel to purchase a good or service immediately, either by lowering the price or by adding value

67
Q

seasonal media schedule

A

a media scheduling strategy that runs advertising only during times of the year when the product is most likely to be used

68
Q

sponsorship

A

a public relations strategy in which a company spends money to support an issue, cause, or event that is consistent with corporate objectives, such as improving brand awareness or enhancing corporate image

69
Q

trade allowance

A

a price reduction offered by manufacturers to intermediaries such as wholesalers and retailers

70
Q

unique selling proposition

A

a desirable, exclusive, and believable advertising appeal selected as the theme for a campaign

71
Q

Bait pricing

A

a price tactic that tries to get consumers into a store through false or misleading price advertising and then uses high-pressure selling to persuade consumers to buy more expensive merchandise

72
Q

Break-even analysis

A

a method of determining what sales volume must be reached before total revenue equals total costs

73
Q

Demand

A

the quantity of a product that will be sold in the market at various prices for a specified period

74
Q

Elastic demand

A

a situation in which consumer demand is sensitive to changes in price

75
Q

Elasticity of demand

A

consumers’ responsiveness or sensitivity to changes in price

76
Q

FOB origin pricing

A

a price tactic that requires the buyer to absorb the freight costs from the shipping point (“free on board”)

77
Q

Flexible pricing (or variable pricing

A

a price tactic in which different customers pay different prices for essentially the same merchandise bought in equal quantities

78
Q

Leader pricing (or loss-leader pricing

A

a price tactic in which a product is sold near or even below cost in the hope that shoppers will buy other items once they are in the store

79
Q

Market share

A

a company’s product sales as a percentage of total sales for that industry

80
Q

Odd–even pricing (or psychological pricing

A

a price tactic that uses odd-numbered prices to connote bargains and even-numbered prices to imply quality

81
Q

Penetration pricing

A

a pricing policy whereby a firm charges a relatively low price for a product when it is first rolled out as a way to reach the mass market

82
Q

Predatory pricing

A

the practice of charging a very low price for a product with the intent of driving competitors out of business or out of a market

83
Q

Price

A

that which is given up in an exchange to acquire a good or service

84
Q

Price bundling

A

marketing two or more products in a single package for a special price

85
Q

Price fixing

A

an agreement between two or more firms on the price they will charge for a product

86
Q

Price lining

A

the practice of offering a product line with several items at specific price points

87
Q

Price skimming

A

a pricing policy whereby a firm charges a high introductory price, often coupled with heavy promotion

88
Q

Revenue

A

the price charged to customers multiplied by the number of units sold

89
Q

Status quo pricing

A

a pricing objective that maintains existing prices or meets the competition’s prices

90
Q

Supply

A

the quantity of a product that will be offered to the market by a supplier at various prices for a specified period

91
Q

Two-part pricing

A

a price tactic that charges two separate amounts to consume a single good or service

92
Q

Value-based pricing

A

setting the price at a level that seems to the customer to be a good price compared to the prices of other options

93
Q

Zone pricing

A

a modification of uniform delivered pricing that divides the United States (or the total market) into segments or zones and charges a flat freight rate to all customers in a given zone

94
Q

base price

A

the general price level at which the company expects to sell the good or service

95
Q

basing-point pricing

A

a price tactic that charges freight from a given (basing) point, regardless of the city from which the goods are shipped

96
Q

cash discount

A

a deduction allowed by the seller of goods or by the provider of services in order to motivate the customer to pay within a specified time.

97
Q

consumer penalties

A

an extra fee paid by the consumer for violating the terms of the purchase agreement

98
Q

cumulative quantity discount

A

a deduction from list price that applies to the buyer’s total purchases made during a specific period

99
Q

dynamic pricing

A

the ability to change prices very quickly, often in real time

100
Q

extranets

A

a private electronic network that links a company with its suppliers and customers

101
Q

fixed cost

A

a cost that does not change as output is increased or decreased

102
Q

freight absorption pricing

A

a price tactic in which the seller pays all or part of the actual freight charges and does not pass them on to the buyer

103
Q

functional discount (or trade discount)

A

a discount to wholesalers and retailers for performing channel functions

104
Q

inelastic demand

A

a situation in which an increase or a decrease in price will not significantly affect demand for the product

105
Q

keystoning

A

the practice of marking up prices by 100 percent, or doubling the cost

106
Q

markup pricing

A

the cost of buying the product from the producer, plus amounts for profit and for expenses not otherwise accounted for

107
Q

noncumulative quantity discount

A

a deduction from list price that applies to a single order rather than to the total volume of orders placed during a certain period

108
Q

price strategy

A

a basic, long-term pricing framework that establishes the initial price for a product and the intended direction for price movements over the product life cycle

109
Q

profit

A

revenue minus expenses

110
Q

promotional allowance

A

a payment to a dealer for promoting the manufacturer’s products

111
Q

quantity discount

A

a price reduction offered to buyers buying in multiple units or above a specified dollar amount

112
Q

rebate

A

a cash refund given for the purchase of a product during a specific period

113
Q

return on investment (ROI)

A

net profit after taxes divided by total assets

114
Q

seasonal discount

A

a price reduction for buying merchandise out of season

115
Q

single-price tactic

A

a price tactic that offers all goods and services at the same price (or perhaps two or three prices)

116
Q

unfair trade practice acts

A

laws that prohibit wholesalers and retailers from selling below cost

117
Q

uniform delivered pricing

A

a price tactic in which the seller pays the actual freight charges and bills every purchaser an identical, flat freight charge

118
Q

variable cost

A

a cost that varies with changes in the level of output

119
Q

yield management systems (YMS)

A

a technique for adjusting prices that uses complex mathematical software to profitably fill unused capacity by discounting early purchases, limiting early sales at these discounted prices, and overbooking capacity

120
Q

Wild Plus, a television channel dedicated to wildlife, wanted to promote its new wildlife adventure series. The series was given wide coverage in newspapers and on television after the channel promoted it, which created awareness about Wild Plus and led to a large viewership. In this case, Wild Plus engaged in:

A

public relations

121
Q

Advent Automobiles Inc. launches a new sport utility vehicle (SUV). It develops a marketing message and places advertisements in leading newspapers and on social media sites to inform consumers about the new SUV and its various features. In the context of the communication process, Advent Automobiles Inc. is the _____.​

A

sender

122
Q

Duski, a very expensive brand of clothing and accessories, promotes its products by using advertisements that feature beautiful women clothed in its brands. Given this information, which of the following advertising appeals is used by Duski?

A. Health
B. Environmental consciousness
C. Profit
D. Vanity and egotism

A

D. Vanity and egotism

123
Q

A catalog merchant divides the country into regions. Every buyer in a particular region pays the same average shipping charge. The shipping charges differ from region to region, depending on how far the region is from the catalog merchant’s main warehouse facility. The catalog merchant is using:

A

Ex of Zone pricing

124
Q

Which of the following statements about geographic pricing policies is true?
A) Zone pricing penalizes buyers closest to the factory.
B) Uniform delivered pricing is more practical when transportation costs are relatively low.
C) Freight absorption pricing may increase the size of market territories.
D) F.O.B. pricing tends to reduce the size of market territories.
E) All of these statements about geographic pricing policies are true.

A

E

Zone pricing means making an average freight charge to all buyers within specific geographic areas and bill all customers in the same zone the same amount for freight even though actual shipping costs might vary. Uniform delivered pricing is most often used when (1) transportation costs are relatively low and (2) the seller wishes to sell in all geographic areas at one price. F.O.B. stands for free on board. F.O.B. shipping point pricing simplifies the seller’s pricing—but it may narrow the market. Freight-absorption pricing helps in competing on equal grounds in another territory.

125
Q

Which of the following statements is true of unfair trade practice acts?

a.
​State enforcement of unfair trade practice laws has been lax partly because low prices benefit local consumers.
b.
​They establish penalties for companies that engage in predatory pricing.
c.
​They prohibit any firm from selling to two or more different buyers.
d.
​Unfair trade practice lawsprevent oligopoly leaders from joining together and fixing prices at the highest rates that a market will allow.

A

a.

​State enforcement of unfair trade practice laws has been lax partly because low prices benefit local consumers.

126
Q

The source deciding what it wants to say and translating it into words and symbols that will have the same meaning to the receiver

A

encoding

127
Q

communicating information between the seller and potential buyer or others in the channel to influence attitudes and behavior.

A

promotion

128
Q

At a local supermarket, Linda saw a box of plant fertilizer that was retailed at $25 but was marked down to $20.99. Given this information, $20.99 is the:​

a. ​ price.
b. ​dividend.
c. ​profit.
d. ​margin.

A

a. Price

129
Q

A _____ is a price reduction offered to buyers buying in multiple units or above a specified dollar amount.

a. tradediscount
b. cash discount

c. seasonal discount
d. quantity discount

A

ANSWER: d

A quantity discount is a price reduction offered to buyers buying in multiple units or above a specified dollar amount. The two types of quantity discounts are cumulative and noncumulative quantity discounts.

130
Q

Pioneer advertising is heavily used during the ____ stage on product life cycle

A

introductory

131
Q

If an advertiser wants to enhance the sales of a specific good or service, institutional advertising should be used

A

F

They should use Product adversting

132
Q

The Federal Trade Commission does not allow the identification of competing brands in comparative advertising. T/F?

A

F

133
Q

Which of the following statements is true about public relations?

A

D

D. An effective public relations program continues over months or even years

134
Q

Unlike magazine advertising, radio advertising:
A) ​provides maximum flexibility.
B) ​has longer lead time.
C) ​poses difficulty in communicating humor.
D) ​has high unit and production costs.

A

A

​provides maximum flexibility.

135
Q

A disadvantage of newspaper advertising is that:
A) ​it has low geographic selectivity and flexibility.
B) ​it may not be the best vehicle for marketers trying to reach a very narrow market.
C) ​it does not lend itself well to cooperative advertising.
D) ​it does not allow manufacturers and retailers to split the costs of advertising.

A

B) ​it may not be the best vehicle for marketers trying to reach a very narrow market.

136
Q 
A \_\_\_\_\_ is a media scheduling strategy in which ads are run heavily every other month or every two weeks to achieve a greater impact with an increased frequency and reach at those times.
A) ​circular media schedule 
B) ​flighted media schedule 
C) ​continuous media schedule 
D) ​seasonal media schedule
A

B) ​flighted media schedule

137
Q

Kelly’s Kitchen, a popular chain of fast food restaurants, offers a kids’ meal pack free with every purchase of its luxury meal pack. This is an example of a:

a. trade allowance.
b. loyalty marketing program.
c. rebate.
d. premium.

A

premium.

138
Q

True or False? The selection of media is not dependent on promotional objectives, the appeal, or executional style of advertising.

A

F

139
Q

True or False? Newspapers and magazines have a high noise level.

A

True

140
Q

During the _____ of the product life cycle, the basic goal of promotion is to inform the target audience that the product is available.

A

The introduction stage

141
Q

Which of the following statements is a characteristic of sales promotion?

A

Trade shows, coupons, premiums, and vacation giveaways are types of sales promotions.

142
Q

_____ includes media such as television, magazine, outdoor, radio, or newspaper advertising.

A

“push” media

143
Q

Noise refers to anything that interferes with, distorts, or slows down the transmission of information.

A

True

144
Q

Informative promotion is used to keep the product and brand name in the public’s mind.

a. True
b. False

A

False

145
Q

Advertising is increased as a product enters the decline stage of its life cycle.

A

False

146
Q

Sales promotion’s greatest strength is in creating strong desire and purchase intent.

A

True

147
Q

Personal selling is not required when buyers are well informed and geographically dispersed.

A

False

marketing 327 (6 decks)

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