Marketing Challenge Review Exam 3

8/4/2019 Marketing Challenge Review Exam 3

1/51

Basic Terms - 100 points

Answer:It is any form of nonpersonal, paidcommunication in which the sponsor orcompany is identified.

Question: What is advertising?


2/51


Answer:It is the term used to describe aproduct perceived as new by a potentialadopter.

Question: What is an innovation?


3/51


Answer:This term refers to a channelused to convey a message to the targetmarket.

Question: What is a medium?


4/51


Answer:It is marketing activities other thanthose covered by the other elements ofthe promotional mix that stimulate

consumer buying and dealereffectiveness.

Question: What is sales promotion?


5/51


Answer:It is the element of thepromotional mix that evaluates publicattitudes, identifies issues that may elicit

public concern, and executes programs togain public understanding andacceptance.

Question: What is public relations?


6/51

Advertising Campaigns - 100points

Answer:This two-word term describes aseries of related advertisements focusingon a common theme, slogan, and set of

advertising appeals.

Question: What is an advertising

campaign?


7/51


Answer:It is a specific communication taskan advertising campaign should accomplishfor a specified target audience during a

specified period. Question: What is an advertising

objective?


8/51


Answer:This term refers to a series ofdecisions advertisers make regarding theselection and use of media to

communicate the advertising message tothe target market

Question: What is media planning?


9/51


Answer: Sometimes abbreviated as aUSP, it refers to a desirable, exclusive,and believable advertising appeal

selected as the theme for a campaign. Question: What is a unique selling

proposition?


10/51


Answer:Sell the sizzle, not the steak isan old advertising expression. It meansthat the goal of advertising is to sell this

and not product attributes. Question: What are product

benefits?


11/51

Product Type - 100 points

Answer: This is a type of inexpensiveproduct for which a consumer is unwillingto shop extensively. Candy, soft drinks,

and aspirin are typical examples. Question: What is a convenience

product?


12/51


Answer: It is a type of consumer product.Consumers search extensively for items inthis category and are reluctant to accept

substitutes. Question: What is a specialty

product?


13/51


Answer: Examples of this type ofconsumer product might include Rolexwatches, Rolls Royce automobiles, and

highly specialized forms of medical care. Question: What are specialty

products?


14/51


Answer: It is a type of consumer product.Consumers comparison shop for items inthis category along attributes like price,

style, practicality. Question: What is a shopping

product?


15/51

Product Type - Open Challenge

Answer: One of two types of shopping

products, it describes products likefurniture, clothing, and universities thatconsumers are likely to perceivecompeting products as being substantiallydifferent.

Question: What is a heterogeneousshopping product?


16/51

Media Selection - 100 points

Answer:This type of media schedulingstrategy involves schedulingadvertisements to run steadily throughout

the advertising period. Question: What is a continuous

media schedule?


17/51


Answer:It is the number of times anindividual is exposed to a message.

Question: What is frequency?


18/51


Answer:It is the number of differentconsumers that are exposed to anadvertisement at least once during a

specific period. Question: What is reach?


19/51


Answer: This type of media schedulingstrategy involves scheduling ads heavilyevery other month, every other week, or

some related pattern to achieve a greaterimpact at specific times.

Question: What is a flighted mediaschedule?


20/51


Answer:Of the following, it is the most

efficient media selection from theperspective of the advertiser.

Channel A, Cost per contact = $18

Channel B, Cost per contact = $20

Channel C, Cost per contact = $30

Question: What is Channel A?(lowest cost per contact)


21/51

Odds & Ends - 100 points

Answer:It is the first stepin the newproduct development process.

Question: What is idea generation?


22/51


Answer: It is the combination of promotiontools - including advertising, publicrelations, personal selling, and sales

promotion - used to reach the targetmarket and fulfill the organizations overallgoals

Question: What is the promotionalmix?


23/51


Answer: Of the following, it is the term thatwould describe the following group of Bicproducts: Bic pens, Bic lighters, Bic

disposable razors. Product line Product mix

Product item Question: What is a product mix?


24/51


Answer: This term describes the methodof carefully coordinating all promotionalactivities to produce a consistent, unified

message that is customer-focused. Question: What is integrated

marketingcommunications?


25/51


Answer: Of the following, it is the one that isNOTa benefit companies frequently derive fromorganizing products into product lines.

Package uniformity Advertising economies of scale

Creating a different personality for each product.

Question: What is creating a differentpersonality for eachproduct?


26/51

Sales Promotion - 200 points

Answer:This form of consumer salespromotion is a certificate that entitles theconsumer to an immediate price reduction

when he/she buys the product. Question: What is a coupon?


27/51


Answer: This form of consumer salespromotion is a cash refund given for thepurchase of a product during a specified

period. Question: What is a rebate?


28/51


Answer: This form of consumer salespromotion is an extra itemoffered to theconsumer, usually in exchange for some

proof of purchase of the promotedproduct.

Question: What is a premium?


29/51


Answer: This form of consumer salespromotion is a promotional display set upat the retailers location to build traffic,

advertise the product, or induce impulsebuying.

Question: What is a point-of-purchase display?


30/51

Sales Promotion - 1000 points Answer:This is a promotional program

designed to build long-term, mutuallybeneficial relationships between acompany and its key customers.

Frequent flyer programs such as TWAsAviators Club are an example of this.

Question: What is a loyalty

marketing program?(orfrequent buyer program)


31/51

Product Life Cycle - 200 points

Answer:They are the four stages of theproduct life cycle (in order, from first tolast.)

Question: What isIntroductory stage

Growth stage

Maturity stage

Decline stage


32/51


Answer:Of the following, it is how theproduct life cycle is best applied/understood.

At the level of an individual brand (ex: Ford.)

At the level of a particular product/model (ex:Ford Taurus.)

At the level of a product category (ex: passenger

cars) Question: What is at the level of a

product category?


33/51


Answer:Products considered to be in thisstage of the PLC include CB radios, black-and-white console television sets, and

non-electronic wristwatches. Question: What is the decline stage?


34/51


Answer:Between a style, a fad, and afashion, it is the one with the shortest lifecycle.

Question: What is a fad?


35/51


Answer:It is the stage of the product lifecycle in which profit can be expected topeak.

Question: What is the growth stage?


36/51

One Step at a Time - 200 points(answer/questions about steps in the personal sellingprocess)

Answer: It is the first step of the sellingprocess.

Question: What is generating leads?

(or prospecting)


37/51


Answer: The second step of the sellingprocess, it involves a determination of theprospects authority to buy and ability to pay

for the good or service. Question: What is lead qualification?

(qualifying)


38/51


Answer: It is the final step of the sellingprocess.

Question: What is follow-up?


39/51


Answer: It is the stage that occurs afterhandling objections but before follow-up.

Question: What is closing the sale?


40/51


Answer: The goal of the salesperson duringthe approach is to conduct one of these. Itinvolves a determination of the customers

specific needs and wants, as well as therange of options the customer has forsatisfying these needs and wants.

Question: What is a needsassessment?


41/51

Good & Services - 200 points Answer: It is the result of applying human or

mechanical efforts to people or objects. Itinvolves a deed, a performance, or an effort thatcannot be physically possessed.

Question: What is a service?


42/51

Goods & Services - 400 points Answer: They are the four characteristics

that distinguish services from goods. Question: What are

intangibility

inseparability

heterogeneity, and

perishability?


43/51

Goods & Services - 600 points Answer: Not only does it include the core

benefit, but also it includes design, features,packaging, etc

Question: What is augmented product?


44/51

Goods & Services - 800 points Answer: It is one of the four unique

characteristics of services. Unlike with aproduct, a service cannot be stored,warehoused, or inventoried. (ex: an empty

hotel room produces no revenues, andcannot be stored until demand is greater.)

Question: What is perishability?


45/51

Goods & Services - 1000 points Answer: these types of products provide

benefits over a period of months, years,even decades

Question: What is a durable good?


46/51

Potpourri - 200 points

Answer:Of the following, it is the type ofmarketing strategy where a manufacturerwould use aggressive personal selling andtrade advertising to convince a middlemanto carry/sell a particular product. Push strategy

Pull strategy Question: What is a push strategy?


47/51


Answer: This one-word term is a statementof an individual sales representatives salesobjectives and is usually based on sales

volume alone (ex: You are expected to sell$200,000 of product by the end of thequarter.)

Question: What is a quota?


48/51


Answer:It is the term in the communicationprocess that describes a receiversresponse to a message.

Question: What is feedback?


49/51


Answer:It is the final stepin the new productdevelopment process.

Question: What is commercialization?


50/51


Answer: Of the following, it is thecompensation system that would likelyproduce the most aggressive sales force.

Straight commission Straight salary

Combination plan

Question: What is a straightcommission?

Final Challenge!


51/51

Final Challenge!

Answer: This is an arrangement between amanufacturer and a retailer in which the two

split the costs of advertising themanufacturers brand. One benefit is that itencourages retailers to devote more effort tothe cooperating manufacturers product line.

Question: What is cooperative

advertising?

Marketing Challenge Review Exam 3

Documents