MK Short Answer Essay Topics Flashcards

1
Q

ID, describe, and give an example of the 4 promotions mix elements.

A

Advertising: A paid non personal communication about an organization and its products transmitted to a target audience through mass media

Personal Selling: A paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation

Public Relations: A broad set of communication efforts used to create and maintain favorable relationships between the organization and its stakeholders

Sales Promotion: An activity or material that acts as a direct inducement, offering added value or incentive for the product, to resellers, salespeople, or consumers

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2
Q

How does sales promotion differ from promotion in general?

A

Promotion: Communication to build and maintain relationships by informing and persuading one or more audiences

Sales Promotion: An activity or material that acts as a direct inducement, offering added value or incentive for the product, to resellers, salespeople, or consumers

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3
Q

What is the difference between a push strategy and a pull strategy – how is each implemented?

A

Push: promoting a product only to the next institution down the marketing channel

Pull: promoting a product directly to consumers to develop strong consumer demand that pulls products through the marketing channel

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4
Q

Why would a marketer want to measure an advertisement’s effectiveness during a campaign and how would that be done?

A

A marketer would want to measure an advertisement’s effectiveness during a campaign in order to determine how well/bad the advertisement is doing. Here are the steps the marketer would take in order to evaluate the advertisements effectiveness

  • pretest
  • consumer jury
  • posttest
  • recognition test
  • unaided recall test
  • aided recall test
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5
Q

What is Public Relations? For what purposes is it used? Give an example of a PR tool.

A

A broad set of communication efforts used to create and maintain favorable relationships between the organization and its stakeholders

Purposes: Maintaining a positive relationship with one or more stakeholders, to create and enhance a positive image.

Example of PR tool: annual reports, brochures, event sponsorship,

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6
Q

List 3 types of sales force compensation methods. What are the advantages, disadvantages of each?

A

Straight Salary:
-Paying salespeople a specific amount per time
period
-Most useful when compensating new
salesperson, moving into new territories or
customers, sales requiring many services for
customers
-Salary remains the same until pay increase
-Provides salespeople with more security but less
incentive

Straight Commission:
-Paying salespeople according to the amount of
their sales in given time period
-Commission may be based on percentage of
sales or on a sliding scale
-Requires highly aggressive selling and minimal
non selling tasks
-Provides salespeople with maximum incentive but
little financial security

Combination:
-Paying salespeople a fixed salary plus
commission based on sales volume
-Most popular compensation method
-Provides level of security and some incentive
-Can require that salesperson exceeds a certain
sales level before earning a commission

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7
Q

Types of specialty stores (3) – be able to give example

A

Traditional specialty retailers:

  • Also called “limited-line” and “single-line” retailers
  • Carry a narrow product mix with deep product lines (e.g., pet supplies)
  • Have higher costs and higher margins
  • Provide more product selection (first-line brands), product expertise, and high levels of personal service

Off price retailers:

  • Buy manufacturers’ seconds, overruns, returns, and off-season merchandise for resale to consumers at deep discounts
  • Charge less than department stores for comparable merchandise and offer few customer services
  • Have established long-term relationships with suppliers for continuing supplies of reduced-price goods

Category killers:
Concentrate on a major product category and compete on the basis of low prices and product availability

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8
Q

Examples of Category killers

A
  • Toys ‘R’ Us
  • Home Depot
  • Best Buy
  • Office Depot
  • PETsMart
  • Barnes & Noble
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