Marketing Final Exam McGraw Hill

six STEPPS suggested by Jonah Berger which can increase the odds of a message going viral?

Stories

Public

Practical value

Triggers

Social currency

Emotion

Infographics are designed to communicate with customers who have ______.

short attention spans

What are two reasons that producers who target business customers emphasize personal selling over other promotion methods?

Fewer customers

Larger purchases

An advertisement that is designed to look like the platform on which it appears is called ____ advertising.

native

True or False? When planning sales promotion that targets other businesses, a company should not use the same type of promotions that have worked with other customers.

FALSE

Social currency is a factor that can influence _____.

whether a promotion goes viral

Infographics are designed to ______.

simplify complex information

grab attention

The most common promotion approach in business markets is

personal selling

Mason was reading an online newspaper and came across a document that looked just like another article in the paper but was actually an advertisement for orthopedic shoes. What type of advertisement was this?

Native

Worrying that product quality could decline in the future is one reason that customers ______.

are reluctant to recommend favorite products

Dell Computer has an exhibit at the Consumer Electronics Show in Las Vegas, which is attended by thousands of people. Afterward, some of those people become ______ as the company's employees try to convince them to buy Dell products.

sales leads

A Facebook-like site called VK is very popular with ______ speakers.

Russian

Consumers are often reluctant to recommend products for which of the following reasons?

They worry that friends will have a bad experience with the product.

They fear that the recommendation won't make them look good.

They are concerned that they will be perceived as unethical.

True or false: Cash discounts need to be evaluated closely.

TRUE

In _____, more than 500 million members use the social media site QZone.

China

When credit card providers and retailers who offer credit make it too easy for adult consumers to buy products when their ability to repay is in question, ______ concerns may arise.

ethical

When firms fail to take a cash discount, they are effectively ______ money.

borrowing

In an effort to maintain competition, state governments often establish _____ to regulate pricing.

boards

What type of pricing is being used when customers pay on a periodic basis for access to a product?

subscription

One of the ethical concerns about credit card companies is that ______.

it makes it easy for people to buy things they really can't afford

When there is too little _______, state governments have the power, in certain industries, to control prices.

competition

Which of these consumers is paying a company based on subscription pricing?

Jen pays a monthly fee for the daily newspaper to be delivered to her front door.

When several firms offer similar products, companies often develop a(n) ______ objective, which tries to convince customers to buy, and continue to buy, their products and not the competitor products.

persuading

When a source attempts to transmit a message to a receiver, it is participating in the _____

communication process

Any disruption of the marketing communication process, also known as , _________reduces the effectiveness of the message.

noise

The method by which a message is delivered is referred to as the ______.

message channel

Many customers called to complain about the NewTrend shoes they had purchased because the bottom of the shoe split in half within days of wearing them. This customer communication is an example of _____.

Multiple choice question.

feedback

Celebrity endorsements often draw ethics complaints if ______

consumers do not believe that the celebrity actually uses the product

Attempting to sell the whole marketing mix to all possible channel members is known as ______.

pushing

Rank the following adopter groups according to the speed at which they accept new ideas, with the fastest-adopting group at the top.

1. Innovators

2. Early adopters

3. Early majority

4. Late majority

5. Laggards

According to the adoption curve __________ are the first to adopt new ideas.

innovators

The early majority typically adopts a new idea when ______

it has been tried and approved of by early adopters and other opinion leaders

Between 1946 and 2017, annual advertising in the United States_______

rose from about $3 billion to more than $200 billion

Which of the following are acceptable advertising objectives?

- Make more people aware of the product.

- Introduce new products to specific target markets.

- Persuade customers to take some specific action that could lead to a purchase.

One of the advertising objectives for Richter's Jewelry is to get customers to make a decision about a purchase. Based on Exhibit 15-3, to achieve this goal, what type of advertising might work best in this step of the adoption process?

Direct action retail ads

Advertising that tries to sell goods or services is called ______.

product advertising

What type of advertising emphasizes the identity and reputation of an organization or industry?

Institutional

Which of the following would be the best advertising media to provide a demonstration of how a product works?

The Internet

Television

The American consumer continues to increase their time spent on ______ media.

digital

Retargeting is also known as _____ retargeting.

behavioral

Hanes Clothing uses Michael Jordan as a celebrity endorser. Michael Jordan is still one of the world's most popular athletes even though he retired many years ago. The primary job that Michael Jordan does for Hanes is to ______.

get attention

When Karen saw the cute kittens in the television commercial she was drawn into the ad and when the announcer talked about the importance of feeding your cat the Cat's Meow food brand, she continued to listen because she wanted to make sure her cat had the best food available. The announcer's words enforced which part of the AIDA model?

hold interest

The advertising slogan for the FedEx delivery company, "When your package absolutely, positively has to get there overnight," is designed to arouse the customer's ______.

desire

When P&G's marketing teams test their advertisements in certain locations, they also purchase scanner sales data from nearby retailers. This type of ______ provides an estimate of how the ad is likely to affect sales.

research

Contests, coupons, free calendars, frequent customer discounts, trade shows, aisle displays, and banners are all examples of a marketing strategy called______

sales promotion

Burger King used coupons to get customers to try its new sandwich. Increasing initial sales of the new menu item was this promotion's ______,.

objective

______ and situation influence sales promotion efforts.

Objectives

True or false: One example of paid media is an advertisement for Nike shoes in a tennis magazine.

TRUE

Consumers trust recommendations from people they know, online consumer opinions, and editorial content. These are all forms of ________ media.

earned

Marketing managers often use ______ to ensure that their websites appear near the top of online search results.

search engine optimization

Pass-along occurs when a consumer _____

shares information about a brand to another consumer

The Harley Owners Group (HOG) is an example of a ______.

brand community

A company starts an e-mail newsletter. Which of the following is an ethical practice?

Requiring customers to sign up in order to receive the newsletter.

Which sentence best states the relationship between having a newsworthy product and public relations efforts?

Together a newsworthy product and a strong public relations campaign increase the chances of press coverage.

Because reporters often use the Internet to research stories, it is logical for companies to use ______ to attract attention online.

search engine optimization

True or false: An opinion leader is typically trusted by consumers.

TRUE

A program that rewards customers for recommending a company to their friends is called a ______ program.

referral

Customer reviews influence consumers because they are _______

seen as objective

Marketing managers should view negative reviews as ______.

an opportunity to learn about and correct problems

A company that makes cereal creates a Facebook page to advertise its newest product. This is an example of ______ media.

owned

One difference between traditional and social media advertising is that social media allows advertisers to ______

react to events as they happen

Which types of companies are more likely to use Instagram as a marketing tool?

Restaurants

Fashion

What social media site could be described as a "wish list" building site?

Pintrest

Which form of social media is an online resume for business professionals?

Linkedin

A company that is targeting _______ might want to use Snapchat as it is the fast-growing photo/video messaging app that this age group uses.

Gen Z

The local coffee company tweeted that customers who posted photos of themselves buying a drink at the store would earn a coupon for $2 off their next cup of coffee. This shows how social media can ____.

deliver value

Marketing managers should determine objectives that will lead to a ______.

profit

Firms that aim to charge as much as their customers will pay desire to earn a rapid return on ______.

investment

The "surge pricing" model used by Uber is an example of _____ pricing.

flexible

Price-cutting can lead to ______.

lower profits

Websites that reveal a firm's flexible pricing policies often receive ______.

complaints from those charged more

Over the course of a year, seasonal discounts tend to ______.

even out sales

When producers offer rebates, they ensure that the final discount goes directly to the ______.

consumer

The most common method consumers use to pay over time is _____.

with a credit card

Marketers who determine value pricing focus on how the whole marketing mix meets ______.

customers' requirements

True or false: Unfair trade practice acts are found in all 50 of the United States.

FALSE

When customers are shown prices that suggest a product's price is higher than what they are being asked to pay, they are being shown ______.

phony list prices

Of the two basic approaches to setting prices, _____ is the most common.

cost-oriented

A(n) ______ is the percentage of the cost that is added to the cost to get the selling price.

markup

What is the function of a markup chain?

It sets the price structure in an entire distribution channel.

Two examples of total fixed cost expenses include ______ costs.

salary

rent

The ______ is obtained by dividing total cost by the related quantity.

average cost (per unit)

In order to use average-cost pricing, a marketing manager must make an estimate of _____.

future sales

The quantity where the firm's total cost just equals its total revenue is called the ______.

break-even point

The ______ contribution per unit is the assumed selling price per unit minus the variable cost per unit.

fixed-cost

If you multiply the ______ by the BEP in units, you get the BEP in dollars.

selling price

The difference between total revenue and total cost is called

profit

A manager seeking profit _________ will select the highest spot on the total profit curve that has the longest vertical distance between the total revenue curve and total cost curve.

maximization

William is an organizational buyer for Goodlife Tires. He purchases rubber for Goodlife. There are several suppliers that all offer basically the same grade of rubber. This situation will have what likely effect on William's price sensitivity?

William will be price sensitive

While shopping for toothpaste at her local convenience store, Cassie was able to compare prices on all of the available products. This shows how access to substitutes ______ price sensitivity.

increases

Royal Caribbean offers a New Year's Eve cruise for $1,800 per person. In its' advertising, the company focuses on four payments of $450 because customers are ______ price sensitive the greater the total expenditure.

more

If the end benefit of a purchase has great significance to the consumer, the consumer will probably be ______ price sensitive.

less

Michael is a sales rep for a steel manufacturer. He is talking to a customer about the new pricing strategy his firm is using which will save his customer money when he substitutes the steel from Michael's company for the steel they currently use.What type of pricing does this represent?

Value in use pricing

______ are a way to determine what a group of potential customer would pay.

Auctions

What is an advantage of price lining?

It is an uncomplicated pricing method for both buyers and sellers.

The act of communicating information about a product to potential buyers in an attempt to influence their attitudes and behaviors, otherwise known as ______, is an important part of a firm's marketing mix.

promotion

Sales managers oversee ______.

personal selling

What are the three basic promotion objectives?

Reminding

Informing

Persuading

The source uses ____ when it determines what to say and translates that message into words and symbols.

encoding

Communications intended to prompt immediate feedback from specific customers are part of a(n) ______ marketing approach.

direct