ULT

\________________ refers to all other coverage that is gained through word-of-mouth or online buzz about the brand.

Earned media

se

Unknown

Twitter's tweets and Tumblr are good examples of:

microblogs

Costs that vary in proportion to changes in the level of activity are:

Variable

\________________ is the result of organic search on Google, Bing, etc.

Search engine ranks and results

Costs that remain the same in total dollar amount as the activity base changes are:

Fixed

\________________ includes views, clicks, click-through rates, etc.

Website metrics

What happens at the beginning of the 5-shaped curve when the product is advertised?

There is not much impact on sales

What is social media?

Internet based services that facilitate conversations and social interactions

Social media can be very fluid in nature, provides real time monitoring, and often needs immediate response. The key to success on social media is:

listening

How are successful practitioners adjusting their outlook to the paradigm shift in social media?

Moderating the ongoing communication

In what type of pricing are prices set with an exclusive eye on profits?

Profit maximization

When marketers use their audiences' help to create new marketing initiatives and improve existing ones, this is referred to as:

crowdsourcing

What does face-to-face communication aim for?

Informing and influencing customers to increase sales

\________________ is content that an organization creates and controls for most part.

Owned media

How does one calculate the return on investment?

Net profits after taxes divided by total investment

On the S-shaped curve, when of the following is on the horizontal axis?

Amount of advertising

What is the benefit of sales-oriented pricing?

Companies with the highest sales can claim leadership status in the marketplace

\_____________ is impersonal, one way, mass communication, paid for by the marketers, to increase sales in the long run.

Advertising

Why is the supply curve upward sloping curve?

Higher prices induce the sellers to create additional supply

Tesla automotive company uses a parent brand name for all of its products. What type of advertising is Tesla following?

Institutional

Where the supply curve and the demand curve meet, is called:

Equilibrium

What goods may have higher demand if they have a higher price?

Luxury goods

What type of brands can use comparative advertising more effectively?

Smaller brands

In which market structure with very few sellers, the sellers have to price their product at a going rate?

Oligopoly

As the product enters growth stage, other competitors come into the market, and companies shift their focus to convincing the customers to buy their own brands, by creating favorable attitudes towards their brands. What type of advertising is being used here?

Competitive advertising

Products such as home goods, clothing, furniture are usually sell in a(n) \___________ market structure.

Monopolistic competition

What is comparative advertising?

Comparing two or more brands

Which of the following is false about monopoly?

The sellers watch their competitors very closely

Personal Selling PPT

✱Face-to-face communication

✚Expensive, so it is useful if:

--\>Product has high transaction value

--\>Product is custom made or complex

--\>There are few customers

--\>The buyer is the later stages of the purchase process

✱Relationship Selling

✚Focused on long term, and therefore working with customers as partners, with extensive consultation and follow up

What is personal selling?

a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other

What is ideal for personal selling?

Small customers

What does newer thinking in personal selling emphasize?

Developing relationships with the buyers

Steps in the Personal Selling Process

1. General Leads or Prospecting (using networking, referrals, and databases)

2. Qualifying Leads (and understanding the purchase process and participants)

3. Approaching the Customers (and understanding the customers, needs, and competition)

4. Developing and Proposing Solutions

5. Handling Objections

6. Closing the Sale and Following Up

Which of the following is not a benefit of selling the product at a lower price?

Create a shortage in the market

A company assigns a fixed percentage of its revenue for its advertising budget in what type of method?

Percentage sales

Which of the following is false about price skimming strategy?

Supply usually exceeds demand

Which of the following has a short-term orientation?

Sales promotion

A company is using \___________ when charging a high price when introducing the product, and then lowering the price after some time.

Price skimming

What is the problem with following the percentage change method?

During a downturn in sales, this method would reduce the advertising budget

\__________________ is the discount provided to buyers to encourage prompt payments.

Cash discount

If a retailer does not want to carry its leftover inventory to the next year, which discount method should be used?

Seasonal discount

Which of the following discount method is typically used for business customers?

Cash discount

If customers buy two packs of coke cans, they will get 20% off. Which promotion method is being used?

Quantity discount

Which of the following experiences a slippage factor?

Rebates

When the freight cost component is high, the seller may want to use \________.

FOB pricing

Which of the following is not a decision to make in the context of selecting media for advertising?

The political learning of media

In \______________, retailers sell a product at a low price, with the hopes of making up the profit from the sales of other products.

Loss leader pricing

A travel company sometimes may sell not only airline tickets, but also provide car rental and hotels booking services. This is an example of:

Bundling

Which of the following is not a type of media?

Content of the advertisement

Why is price fixing illegal?

Because the companies can collaborate and create a form of monopoly

The advertising response function looks like a/an:

elongated "S"

Which of the following is illegal price discrimination?

The "I love NY" products costs more for a foreigner compared to locals

What is the cost per contact?

The cost of reaching each person in the audience

When the companies get together to set a higher price, it is called \___________________.

Price fixing

Which of the following is not a category of media?

Received

\_____________ aims to impact people's attitudes, and execute programs to gain their understanding and acceptance.

Public relations

The aim to impact public attitudes and execute programs, which are not paid for explicity, to gain their understanding and acceptance is:

Public relations

\________________ is used during the early stages of the product life cycle. Because the product is new, the focus is on explaining the benefits of the product class, and not on promoting the specific brand.

Pioneering advertising

What is zapping in commercials?

When the audience skips commercials

Which of the following is not a step in CRM?

Deleting old data every year

What tool provides easy access to company news?

Social media

Social Media Tools

✱Blogs (corporate and noncorporate)

✱Microblogs (e.g., Twitter, Tumblr)

✱Social Networks (e.g., Facebook, My Space, LinkedIn)

✱Media Sharing Sites (e.g., YouTube, Flickr) for images, audio, and video

✱Social News Sites (Reddit, Digg, etc.), which often rate stories based on their popularity

✱Location-Based Social Networking Sites (e.g., GoWalla and Foursquare)

✱Review Sites (e.g., Yelp, Rotten Tomatoes)

✱Virtual Worlds and Online Gaming

How should companies respond to what is being said about them?

Engage in social media monitoring

Social Media and Mobile Technology

✱Mobile Platforms

✚Fast growing segment, which is appealing because

rStandardized platforms have reduced barriers to entry

rYounger audiences more receptive to this medium

rSmart phones make it very accessible

rReal time metrics provide measurable results.

✱Applications (Apps) and Widgets

✚New apps introduced every day

✚Widgets make it easy to incorporate them in a webpage

✱Very rapidly changing technology

Under a \________________ media schedule, advertisements are run at a steady pace throughout the campaign.

continuous

\________________ also referred to as sales, is the product of price per unit and the number of units sold.

Revenue

When consumers get a reward after they purchase the product multiple times, what is this type of consumer promotion called?

Loyalty programs

Which of the following is not the type of data companies need to capture?

Personal data

Which of the following is a common promotion directed at channel members?

Trade allowance

\________________ is when a brand appears in a TV show, movie, radio program, etc. as part of the narrative.

Product placement