Test 2 Flashcards
(109 cards)
1
Q
What are the three types of communication that marketers can use to in order to share their messages with the consumer
A
one-to-all
one-to-one
one-to-many
2
Q
True or False: Rational appeals use facts and reasoning to persuade consumers to choose the product being discussed
A
True
3
Q
True or False: An emotional appeal uses imagery, copy, music, or other tactics to appeal to a consumer’s feelings about a product, service, or issue at hand.
A
False
4
Q
Television advertisements are an example of ____ communication.
A
One-to-all
5
Q
True or False: One-to-all is the most effective and labor-intensive form of marketing communication.
A
False
6
Q
If a brand’s consumer has a low need for cognition, consumers are more likely to be persuaded by ____ framed messages.
A
Negatively
7
Q
A marketer acknowledging competing products in company messaging and sharing why his or her product is superior to that of the competition defines ____.
A
Two-sided communication
8
Q
On TV, the commercials that have the best recall are shown ____ of a commercial break.
A
First in the sequence
9
Q
The ____ is the creative glue that hooks the reader or viewer of an advertisement by trying to connect the brand to the consumer’s wants and needs.
A
Advertising appeal
10
Q
True or False: Environmental noise occurs when the sender causes a disruption that makes it difficult for the consumer to process the message at hand.
A
False
11
Q
While there are scores of advertising appeals for marketers to choose from, according to the chapter, one way of categorizing them and understanding the options is to examine both emotional and ____ appeals.
A
Rational
12
Q
One-to-all
A
Single messages to the mass
13
Q
One-to-one
A
Personalized, the most effective communication, most labor intensive, peron-to-person
14
Q
One-to-many
A
Focus on circulating a more target message to a small group of customers, customer segment ex. social
15
Q
One sided messaging
A
Represent one side of view ex. focusing on the benefits of the product
16
Q
Two sided messaging
A
Presents an argument on both counterparts
17
Q
Positive Framing
A
Benefits of purchasing the adverting product
18
Q
Negative Framing
A
Potential loss if the product is not purchased
19
Q
Emotional Appeals
A
Use imagery, copy, music, or other tactics to appeal to customer’s feelings about product or services
Personal
Fear
Humor
Natural / Reality
Solution
20
Q
Appeals
A
The context within which advertisements are
set, and often, they extend well past one advertisement — marketers
choose to focus on one appeal for a campaign as a whole.
21
Q
Rational Appeals
A
Use facts and reasonings to persuade customers to choose the product they are discussing
22
Q
What are the most prominent barriers?
A
1) selective exposure
2) communication noise
23
Q
How do marketers overcome selective exposure and
communication noise? What strategies do they employ?
A
1) Repeated exposure to a message
2) Unique copy and design
3) Understanding the environment in which ads are processed
4) Conducting research
24
Q
Communication Noises
A
Influence that can have a profound on marketing perceptions ex. psych noise, econ noise
25
Change in purchasing behavior 1
Value of shopping experience
26
Change in purchasing behavior 2
Increase consumer opting:
Convenience
Speed
Low cost
27
Change in purchasing behavior 3
Millennials and Gen Z
* Tailored product choice
* The opportunity to become part of the product creation process
* An ability to share feedback and improvement opportunities
with brands
28
Factors that influence a customer’s holistic shopping experience
include the following processes:
Buying
Usage
Disposable
29
Buying Process
Customer moods, references, store environment, internet
30
Usage Process
Quality of the experience
31
Disposal Process
Throw away, second hand market, renting items
32
Antecedent States
all environmental and internal factors that can impact customer's mood
33
Online selling has changed the future of retail in a way
that could not have been anticipated years ago by:
1) Eliminating the significant barriers to entry created
by a brick-and-mortar -only retail environment
2) Enabling regional retailers to gain national scale
3) Enabling national chains to reach smaller communities
34
Several variables can influence purchase decisions within the retail
environment, including:
point-of-purchase materials * website design
* price reductions
* mobile experiences
* store atmosphere
* sales personnel
35
How Can Price Reduction Lead to More Revenue?
Existing customers who purchase a larger quantity of product at discounted
price
2. Users of competitor brands who may switch because of discounts and
become loyal to the new product
3. Customers who may not buy the product at all because of cost may opt to
buy the product
4. Customers who don’t shop at the store may opt to go into a new store
because of a sale.
36
How Can Store Atmosphere Drive More Revenue?
Environment:
Music
Scent
Physical conditions:
Layout
Equipment
Colors
Social Conditions
# of customers
# of sales people
37
Stockouts
Cases when a store no longer carry particular product or brand
38
This is the manifestation of all the environmental and internal factors that impact a consumer’s mood.
Antecedent states
39
According to the chapter, when it comes to the shopping experience, consumers are increasingly opting for ____, speed, and low cost above all other factors.
Convenience
40
Which of the following is not presented in the chapter as a factor that influences a customer’s holistic shopping experience?
The decision process
41
True or False: To a marketer, understanding the product usage process is as critical as understanding the product buying process.
True
42
This, according to the chapter, is a shift in consumer behavior that has left many traditional retailers scrambling.
That Millennial and Gen-Z customers are quick to explore and adopt new, online-only retail options
43
Online selling has changed the future of retail in a way that could not have been anticipated years ago by all of the following except:
Eliminating the need for an omni-channel environment
44
True or False: Retail environments are set up to encourage additional information processing that can often influence purchase choice.
True
45
Marketers should be cognizant that offering price reductions do not dilute their brand as price is an indicator of brand quality.
True
46
While they elicit positive moods, strong website designs do not affect increases in repeat purchase and consumer loyalty.
False
47
The increase in how digitally and tech savvy consumers are has eliminated the need for strong customer service.
False
48
What is a brand
A name, term, design, symbol, or any other features that identifies
one seller’s good or service as distinct from those of other sellers.
Company’s value, differentiating factors, and the principles
they stand for.
49
What is brand loyalty
the consumer’s affect-laden (or emotional)
decision to make repeat purchases of the same brand within
a specific product category.
50
There are several reasons that brand loyalty can be a primary driver
of a business success:
* Reduces customer acquisition costs (increase customer lifetime value)
* Means customers are more forgiving
51
Whan Park created the theory of multidimensional
brand loyalty
The emotive tendency (customer feeling towards the brand)
* The evaluative tendency (assessment of the brand to understand value of drivers)
* The behavioral tendency (drive purchasing behavior)
52
Loyalty Programs
Help to build and reinforce
the emotive, evaluative, and behavioral tendencies in positive ways.
* Informed (test and learn, mix of rewards)
* Targeted (location, demographics, relevant factors)
* Experiential (exclusive experiences, most impactful)
* Easy (streamline, easy sign up)
53
Measure brand loyalty
1) Customer Lifetime Value (Customer Value * Average Customer Lifespan)
2) Net Promoter Score (likelihood of referring your
brand to a friend)
3) Customer Loyalty Index (number of customers who are actively engaged in
your loyalty program divided by your total number of
customers)
4) Customer Engagement Numbers (rely on observing tangible customer metrics that are correlated with revenue and profits)
54
Net Promoter Score
specific
type of survey
to measure the
experience customers
have with brands
55
This is the consumers’ assessment of a brand based on a set of criteria that helps the customer understand the value the brand drives.
Evaluative tendency
56
This is a consumer’s feelings toward a brand.
Emotive tendency
57
True or False: Affiliates are companies that work together to aggregate information about various product options in a category.
False
58
True or False: The Net Promoter Score (NPS) is a measure of a customer’s likelihood to purchase a brand referred by a friend.
False
59
This is a structured system used to reward consumers in exchange for consumers acting in a certain way.
Loyalty program
60
This, according to the chapter, is the intangible value proposition that separates one commodity product (or at least products within competitive, fragmented landscapes) from the next.
Brand
61
True or False: Loyalty programs that drive purchase work best when they are highly targeted based on location, frequency, or other relevant factors.
True
62
True or False: Net Promoter Score (NPS), Customer Loyalty Index (CLI), and customer engagement numbers are all ways of measuring brand loyalty.
True
63
True or False: Activity time, visit frequency, and core user actions are typically measured when considering Customer Loyalty Index (CLI).
False (CLV)
64
True or False: Brand loyalty increases customer acquisition costs.
False
65
Demand first innovation
Framework that provides companies with insights into consumers' perspective of a market category, can be developed with that consumer perspective in mind
- understand consumer trying to serve as indiv. interacting with
- understand how the company can positively influence a consumer's world
- marketers should seek to see their company, products, and services as consumers do
66
How can companies pursue demand-first innovation and growth to make sure they are truly driving value for consumers? (Joachimsthaler)
- Create a demand landscape (outlines consumers' conscious and unconscious purchase motivations)
- Reframe the opportunity space (examine the data and obv. surveys of uncovering consumer unmet needs in the category as a whole)
Formulate a strategy blueprint (actually pursue newly opp)
67
Goal
Objective a consumer strives to achieve
68
Priority
measure of relevant value of achieving goals, recognizing customers have multiple goals
69
This is a framework that provides companies with insight into consumers’ perspective of a market category so game-changing innovation can be developed with that consumer perspective in mind.
Demand-first innovation
70
True or False: Since it’s clear that innovation is an imperative, it’s easy for companies to define their innovation process and roadmap.
False
71
True or False: Creating a demand landscape begins with an understanding of consumer behavior.
True
72
In pursuing demand-first innovation and growth, ____ is the step of Erich Joachimsthaler’s three-part framework with the goal to enable marketers and product managers to truly understand how their consumers live their lives apart from their current product and service offerings and in the context of their culture and their emotions (their fears, frustrations, passions, etc.).
Create a demand landscape
73
In pursuing demand-first innovation and growth, ____ is the step of Erich Joachimsthaler’s three-part framework that involves focusing attention on identifying the innovative opportunities that consumers can’t name in a conversation with a company through traditional research.
Reframe the opportunity space
74
In pursuing demand-first innovation and growth, ____ is the step of Erich Joachimsthaler’s three-part framework typically requires organizational alignment outside of the marketing team to enable the company to change the very systems and processes that may have driven company profitability or success to date.
Formulate a strategic blueprint
75
True or False: One of the reasons an observational research methodology is critical in the success of creating a demand-landscape is because there is truly a difference between what people say they prioritize and what they actually do.
True
76
True or False: Often, companies are limited to creating only incremental changes as whole-scale innovation is difficult given the regulatory environments that they are in.
True
77
A __ is the measure of relative value of achieving goals, recognizing that at any given time it’s likely consumers have multiple goals.
Priority
78
True or False: One of the reasons focus groups are critical in the success of creating a demand-landscape is because there is truly a difference between what people say they prioritize and what they actually do.
False
79
Culture
The shared patterns of behaviors and interactions, cognitive constructs and understanding that are learned by socialization.
80
3 KEY TENETS OF CULTURE
* Culture is a comprehensive concept
* Cultures differ significantly across the globe
* Culture isn’t prescriptive
81
Approaches to global marketing opportunities
1. Unified global marketing strategy (market the same product without any customizations)
2. Local marketing strategy (customizing both the product and its marketing communications
approach for each market)
3. Hybrid marketing approach (leaving the product unchanged but customizing its communications strategy)
82
Cross Culture Analysis
Understanding the extent that consumers in multiple markets think and act differently
83
What are critical market factors to consider when conducting cross
cultural analysis?
* Linguistic / language barriers
* Advertising appeals
* Legal barriers
84
Acculturation
The process of driving culture change, often the result of trying to convince consumers to adopt new products and services within a new environment
85
What are 2 roles that marketers have (acculturation)
1. Product development (unmet needs i.e. medication)
2. Marketing communications (promotional)
86
Cultural Norms
The "rules" that specify approval or disapproval of certain behaviors in situations, these rules are derived from cultural values
87
Globalization is:
The process of driving cultural change, often the result of trying to convince consumers to adopt new products and services within a new environment
The process of understanding the extent to which consumers in multiple markets think and act differently
A group identity shaped by shared knowledge, belief, law, morals, customs, and many other factors
= The process of interaction and integration among the people of different cultures
88
Cross-cultural analysis is:
The process of understanding the extent to which consumers in multiple markets think and act differently
89
Acculturation is:
The process of driving cultural change, often the result of trying to convince consumers to adopt new products and services within a new environment
90
True or False: Consumers sometimes mistrust or resent international brands, seeing them as hurtful to the local culture.
True
91
____ is a group identity shaped by shared knowledge, belief, law, morals, customs, and many other factors, an all-encompassing, comprehensive concept that pervades all aspects of consumer behavior.
Culture
92
True or False: Culture impacts biological needs (e.g., the need to eat, the need for shelter, etc.).
False
93
Which of the following is presented in the chapter as an option for marketers to choose from based on their decisions to customize products and/or communications strategies for international markets?
Changing the product itself but leaving its communications strategy unchanged
Customizing both the product and its marketing communications approach for each market
Leaving the product unchanged but customizing the communications strategy
= All of these are presented in the chapter as options for marketers
94
True or False: In consumer behavior terms, cross-cultural analysis means understanding the extent to which consumers in multiple markets think and act differently.
True
95
True or False: In markets where interdependence is more important than independence, marketers may choose to focus their communications on messages that portray individual achievement.
False
96
Globalization is:
The process of interaction and integration among the people of different cultures
97
Technology has enabled marketers to garner access to a global panel
of customers who can share:
More holistic view of consumer behavior
* More agile approach to research
* Global insights
* Richer understanding of the context in which customers interact
with their products and brands.
98
Google Shopping
A service that allows users to search for products online and compare among various vendors
99
Scaling
Refers to a business' ability to grow cost-effectively from both a monetary cost and people cost perspective
100
True or False: Google Shopping is a service that allows users to search for products online and compare prices among various vendors.
True
101
As a result of __, companies could demonstrate they truly understood consumer needs because advertisers could serve up ads based on consumers’ browsing patterns, making ads truly relevant to consumers.
Remarketing
102
True or False: Since the 1960s, no marketplace trends have had as significant an impact on the variables of the 4 P’s marketing mix as globalization.
False
103
True or False: Almost every industry is shifting from physical product development to technology product development.
True
104
Edmund Jerome McCarthy’s definition of ____ was traditionally referred to as a product’s distribution strategy.
Place
105
That consumers can purchase from a fragmented distribution landscape involving sites the marketer has no control over is a condition of this element of the 4 P’s marketing mix.
Place
106
As business students, it’s important to add a fifth “P” to McCarthy’s marketing mix:
People
107
According to the chapter, this is a strategy that can be quite effective for lower involvement products where service and other aspects of the marketing mix have less importance.
matching prices for items customers find online
108
True or False: In addition to investing in huge call centers, smart marketers are using AI-driven chatbots to meet consumer needs while reaping significant cost savings.
False
109
True or False: As consumer preferences shift, the demand for marketers focused on product innovation has shifted to demand for technology product managers.
True
