Quiz 9

Question 1

Their resources are their time, money, attention
Seek to exchange money for entertainment and information.
Largest group

Answer 1

Consumers

Question 2

Bring money to the game
Negotiate in exchange of their money to access audiences they want to target
Negotiate with media for lowest cost

Answer 2

Advertisers

Question 3

These bring money, messages, and audiences to the game as they compete in three different markets simultaneously.

Answer 3

Media Companies

Question 4

The three markets media companies compete in

Answer 4

1. Talent market
2. ) Audience Market
3. ) Adertising market

Question 5

Bring their time, skills, and talent to the game

Increase pay and benefits they receive for each hour worked

Answer 5

Media Employees

Question 6

The crafts and clerical people who apply fairly common skills in the performance of their jobs

Answer 6

Below-the-line employees

Question 7

The creative type and the entrepreneurs

Answer 7

Above the line

Question 8

Those who play the game well, and continually negotiate resource exchanges so well that their payoffs are of greater value than their costs each day

Answer 8

Net winner

Question 9

Players who give up resources more valuable than they receive in return

Answer 9

Net losers

Question 10

One company controls the market, consumers must buy their products from that one company by paying high prices or going without the product

Answer 10

Monopolistic Industry

Question 11

Have many companies producing same/simular products, continually improve the quality of their products while sleeping prices low enough

Answer 11

Competitive Industry

Question 12

Coexisting of the features of the two types:
Monopolistic because each media industry is typically dominated by a large powerful company
Competition because each media industry allows for a large number of businesses that compete for resources

Answer 12

Monopolistic Competition

Question 13

The actions of one player can affect other players in complex ways

Answer 13

Complex Interdependence

Question 14

A segment of an audience to which you offer your product or service

Answer 14

Market

Question 15

What factor of valuing one’s resources favors the consumer

Answer 15

Consider supply and demand

Question 16

What factor of valuing one’s resources favors the advertiser

Answer 16

Making an assessment about how well the resource with achieve a goal

Question 17

Businesses are run to make as large a ___ as possible

Answer 17

Profit

Question 18

Maximizing overall revenue is to increase the number of _________

Answer 18

Revenue Streams

Question 19

The bigger the scale of your business the more likely your costs will go down either through the ability to demand greater discounts or because you are able to operate more efficiently beyond a certain point

Answer 19

economies of scale

Question 20

Achieved by distributing the same message through many different channels

Answer 20

Economies of scope

Question 21

Trying to attract as large an audience as possible

Answer 21

Quantity Audience Strategy

Question 22

Try to attract a certain kind of niche audience

Answer 22

Quality Audience Strategy

Question 23

Long-tail marketing relies on _____ which are internet platforms that bring together buyers and sellers of all kinds of products and services

Answer 23

Aggregators

Question 24

Five types of aggregators

Answer 24

Physical goods
Digital goods
Advertising services
Information 
Communities/user-created content

Question 25

Instead of beginning with messages and then trying to audiences for those messages, media businesses begin with audience needs and then construct messages to meet those needs

Answer 25

Marketing concept

Question 26

Typically runs continuously in our unconscious minds.
It guides us to follow our preprogrammed habits because it requires very little effort and delivers familiar satisfactions

Answer 26

Default Strategy

Question 27

From consumers in the form of payments

Answer 27

Direct support

Question 28

From consumers why buy advertised products

Answer 28

Indirect support