MKTG 351 Final - Kahoots (CH15, 16, 17, 18, 19, 20)

What is the goal of advertising?

Increase sales

Which promotional mix element is unpaid?

Public relations

T/F personal selling is inexpensive

False

Which promotional goal is important early on?

Informing

What stage uses reminder advertising?

Maturity

What is the AIDA concept's first steps?

Attention

What is the goal of public relations?

Create favorable image

Which promotional mix element is effective for B2B?

Personal selling

Which promotional mix element is effective for B2C?

Advertising

Why do brands with large market share spend proportionally less on advertising than smaller brands?

They need to spend proportionally less to get same advertising effectiveness

A new company with a new product will use _ advertising to promote its products

pioneering

Without naming a competitor, an advertisement boasts that it's the best product. This is a(n) _
advertisement

competitive

Which type of ad is suited for smaller competitors to move aggressively against bigger rivals?

comparative

The way the advertisement message is conveyed is called

message execution

Ad executional style that shows group of women chatting on a sofa is called

slice of life

____ is the number of times the target viewer is expected to view an advertisement

Frequency

A(n) _ media schedule combines continuous scheduling with a flighted schedule during best sales periods

pulsing

If a company wants to build its long term brand image, it should not focus on _

sales promotion

What is benefit of rebates over price reductions from perspective of marketer?

rebates entice purchases but many consumers never bother to redeem them

What is advertising?

Impersonal communication

T/F Comparative ads are good for top brands?

False

Which ad type is informative?

Pioneer

Which is a media type?

Newspaper

What is a product placement?

Product in media

What is a sales promotion?

Coupons

What is a PR tool?

Press release

Which is a media scheduling type?

Continuous

What is push money?

Retailer incentive

What is a trade allowance?

Retailer discount

Personal selling is more effective in the later stages of the purchase process

True

Sam's Pizza collects large amount of data about customers. For CRM, this data would be centralized in a(n)

data warehouse

What is personal selling?

Face-to-face communications

When is personal selling useful?

High transaction value

What is CRM?

Customer relationship management

What is data mining used for?

Identify trends

What is the first step in personal selling?

Prospecting

What should objections be seen as?

Opportunities

What is a sales quota?

Expected sales amount

What is the purpose of recruiting and training?

Select candidates

What is the purpose of evaluating sales force?

Improve performance

What is the responsibility of sales management?

Define sale goals

Using consumers to develop and market products is called crowdfunding

False

Which is an example of earned media for BodyFit - a fitness center?

The tweet that a member sent about how much weight she lost working out

A website that allows individuals to connect with friends, peers and business associates is called a virtual world

False

What is social media based on?

User generated content

T/F social media was created for marketing?

False

Which platforms use an ad-revenue model?

Youtube, Facebook, Instagram

What is crowdsourcing used for

New ideas

T/F social media marketing is measurable

True

T/F Seo (Search Engine optimization) is free

True

What does SEM stand for?

Search engine marketing

What is the main concert for privacy advocates?

Personal data sale

Which metric measure interaction w/ posts?

interaction

What is the purpose of social listening?

Analyze conversion

Price elasticity refers to how much price will change in response to demand

False

A company uses ____when it sets price so revenues are as large as possible compared to its costs

profit maximization

When Domino's Pizza raises or lowers its pizza prices, Pizza Hut tends to match the pricing. This is ___ pricing

status quo

Which situation would imply demand would be inelastic?

high involvement product

Strategy of setting price high so that you attract less price-sensitive buyers and earn high margins is price
skimming

True

Delta and United were charged with conspiring to set high prices on flights between NY-LA. They were
charged with

price fixing

When a large company launches a new product and prices it so low that a smaller competitor would not beable to match it

this is predatory pricing

T/F Revenue equals price time units sold

True

What cost is fixed

Rent

Which pricing focuses on market share

Sales oriented

What affects elasticity of demand

Substitutes available

Which market structure has one seller?

Pure monopoly

T/F penetration pricing uses high initial process

False

What is a quantity discount?

Large order discount

Which pricing tactic uses two charges?

Two-part pricing

What is price discrimination?

Different price for different customers

Unit margin is based on?

Selling price

Markup is based on

Acquisition cost

T/F Price elasticity is always positive

False

Higher price elasticity means?

More sensitive demand

Break even Point equals

Revenue equals cost

Revenue is calculated by

Volume * price

CLV stands for?

Customer lifetime value

T/F higher retention rate means higher CLV

True

Which of the following effects CLV negatively

Higher discount rate

What do marketers typically use to measure customer sentiment?

Multi-question scale