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Exam 2 Quiz answers highlight v4
Marketing (BUSML 650)
Ohio State University
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Chapter 15 (14 Questions) 1. Which execution style shows one or more "typical" people using the product in a normal setting? Slice of Life 2. What is the intent of advertainment? To make ads and brand content into something that people actually want to watch 3. What is the first decision advertisers need to make when developing an advertising program? Setting advertising objectives 4. Which type of advertising is important for mature, established brands? Reminder 5. What is media impact? The qualitative value of exposure to a message 6. A company holds a news conference to announce a new product launch. Which PR tool are they using in this example? Special events. 7. Which of the following statements about setting an advertising budget is correct? New products typically need relatively large advertising budgets to build awareness and to gain consumer trial. 8. Which of the following statements about public relations is correct? The lines between advertising and public relations are becoming more and more blurred. 9. It is common to see product placements- embedding brands as props within other programing, such as TV shows or movies. Product placements are a form of _____. Branded entertainment 10. Advertising objectives can be classified based on three primary purposes. What are the three purposes? To inform, persuade, and remind Advertising appeals should have three characteristics. These characteristics are to be meaningful, to be believable, and to be distinctive The public relations function of public affairs is used to build and maintain national or local community relationships What is the first step in the media selection process? Determining reach, frequency, impact, and engagement Public Relations consists of activities designed to engage and build good relations with the company's various publics Annual reports, brochures, articles, and company newsletters all represent which type of PR tool? Written Materials Chapter 16 (10 Questions) 1. According to the text, what is the fastest-growing sales trend today? Social selling 2. Which of the following is an objective for business promotions? Generating Business leads 3. Helping Salespeople to “work smart” by doing the right things in the right ways is the goal of ______, whereas getting them to work hard is the goal of ______. Supervision; motivation 4. One study found that the best salespersons have four traits in common: intrinsic motivation, a disciplined work style, the ability to close a sale, and the ability to build relationships with customers. Knowing this would be most useful at which stage of sales force management? Recruiting and selecting salespeople 5. Which of the following statements is true regarding salespeople? The best salespeople are the ones who work closely with customers for mutual gain 6. Some companies still treat sales and marketing as separate functions. One effect this can have is to ______ Damage customer relationships 7. After the presentation and demonstration step in the sales process, a salesperson should next be prepared to __________. Handle objections 8. Delta Faucet partnered with Warrior Dash, which sponsored several 5k mud run races around the country over the summer. At each event, Delta built a huge custom shower station, complete with 184 Deltashowerheads, where mud-soaked competitors could meet and wash off after the race. This is an example of which type of promotion? Event Marketing 9. What is the first decision made in sales force management? Designing a sales force strategy and structure 10. Once the company has set its structure, what is the next strategic decision it faces? Sizing the sales force What are the four elements of a compensation plan for salespeople? A fixed amount, a variable amount, expenses, and fringe benefits Which of the following is an objective for trade promotions? Getting retailers to carry new items and more inventory Which of the following statements about personal selling is correct? Many customers are unable to distinguish the salesperson from the company. Which of the following would NOT be a consideration for decision making in designing the full sales promotion program? How to set it apart from other promotion mix elements During a sales presentation, which of the following would best fit a relationship marketing approach? Tell a value story. Sales reports, call reports, and expense reports are all used in the process of evaluating salespeople. Which of the following is a reason that producers use marketing channels and channel intermediaries? Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers. What are the four major functions of logistics? Warehousing, inventory management, transportation, and logistics informationmanagement Which of the following statements regarding marketing channel behavior and design is correct? The success of individual channel members depends on the overall channel's success After the company has defined its channel objectives, it should next identify its major channel alternatives in terms of the types of intermediaries, the number of intermediaries, and the responsibility of channel members Chapter 13 (8 Questions) 1. Recently, superstores that are actually giant specialty stores, such as Petco and Home Depot, have seen tremendous growth. These types of superstores are called __________. Category Killers 2. __________ involves focusing the entire marketing process toward turning customers into buyers as they approach the point of sale Shopper marketing 3. One recent retailing trend resulting from economic conditions is __________. Tighter consumer spending 4. Which of the following best reflects the role of retailing in the distribution channel? All the activities involved in selling products or services directly to final consumers for theirpersonal, nonbusiness use 5. In terms of location, most stores today cluster together. What is the primary reason for this? To increase their customer pulling power 6. Which of the following statements about retailer marketing decisions is correct? Many retailers identify three critical factors for retail success: location, location, and location. 7. Which of the following statements regarding green retailing is correct? Green retailing initiatives extend to helping consumers be more environmentally responsible. 8. How do brokers and agents differ from merchant wholesalers? Brokers and agents do not take title and perform a limited number of specialized functions 9. What are the three main types of off-price retailers? Independents, factory outlets, and warehouse clubs 10. Retailers need to differentiate and position their store and make decisions regarding their retail marketing mix. Before making those decisions, retailers must first __________. segment and define their target market Retailers must decide on which three major product variables: Product assortment, services mix, and store atmosphere Which of the following is a recent trend in wholesaling? Less distinction between large retailers and large wholesalers What are the four broad characteristics used to classify retail stores Service, product lines, price, and organization Which type of retailer carries narrow product lines with deep assortments within those lines? Specialty stores Chapter 10 (8 Questions) 1. On a break-even chart, the break-even volume is located __________. at the intersection of total revenue and total costs 2. Luxury automobile manufacturers typically add quality, services, and other features to differentiate their offers and thus support their higher price. This is an example of __________. value-added pricing 3. The strategy of __________ means that the firm attempts to offer the right combination of quality and good service at a fair price. Good- value pricing 4. Price is the only part of the marketing mix that __________. Produces revenue 5. Which type of market consists of many buyers and sellers trading over a range of prices rather than a single market price? Monopolistic competition 6. Internal factors that affect pricing include __________. the company's overall marketing strategy, objectives, and marketing mix 7. Two external factors which must be considered in pricing decisions are __________. Demand and the nature of the market 8. Which of the following is a cost-based pricing approach? Break-even pricing 9. Which factor sets the ceiling on setting a product's price? Customers value perception 10. How is price determined using cost-plus pricing? The price is set by adding a standard mark-up to the cost of the product. Which of the following statements is correct regarding different types of markets? Under oligopolistic competition each seller is alert and responsive to competitors' pricing strategies and marketing moves. What is the first thing markets must do when using value based pricing? Assess customer needs and value perceptions. 8. One form of influence that carries great weight, especially for products that are expensive, risky, or highly visible is __________. word of mouth 9. At certain stages of the buying process, which element of the promotional mix is most effective in building up buyers' preferences, convictions, and actions? Personal Selling 10. Which promotional tool includes presentations, trade shows, and incentive programs? Personal selling A company wishes to reach many geographically dispersed buyers at a low cost per exposure. Which element of the promotional mix should the company use? Advertising Specific promotional tools used in public relations include press releases, sponsorships,events, and web pages Which method for setting the total promotion budget is the most difficult to use The objective-and-task method A recent study showed that more than two-thirds of advertisers are planning video ad campaigns that stretch across multiple viewing platforms. This is called video convergence Which of the following statements regarding the changing communications landscape iscorrect? The dominance of television, magazines, newspapers, and other traditional mass media is declining Chapter 17 (3 questions) 1. Which of the following correctly identifies what direct and digital marketing offer sellers? Inexpensive, efficient, and fast 2. Digital marketing can link brands to important moments in customer's lives. This aspect of digital marketing is called __________. Real time marketing 3. A marketing website should be easy to use and visually appealing. To be effective, these websites must also be __________. Useful 4. Social media is ideal for starting and participating in customer conversations and listening to customer feedback. This is because social media is __________. Interactive 5. Direct mail is well suited for which of the following? Direct, one-on-one communications 6. To avoid being intrusive and annoying, most legitimate email marketers practice __________, which means sending email pitches only to customers who "opt in." Permission based email marketing 7. The fastest growing form of marketing is __________. Direct and Digital marketing 8. What are the two main forms of online advertising? Display ads and search related ads 9. Many consumers today rent DVDs from a vending machine called Redbox that can be found in retail stores and other locations. Redbox is which type of direct marketing tool? Kiosk 10. One drawback to viral marketing is that __________. Marketers cannot control where users pass along the Message Which of the following would represent a niche online social networking site? Birdpost Buyers have increased their use of direct and digital marketing because they are: easy, convenient, and private. Consumers may receive an email, supposedly from their bank or credit card company, saying that their account's security has been compromised. The sender asks them to log on to a provided web address and confirm their account and other personal information and then steals this private information. This is a fraudulent practice called phishing. When Apple Computer Company introduced their iPhone, they priced the new product at $599, considerably higher than either their iPod or competing cellular phones. Apple Computer was pursuing a(n) market-skimming pricing strategy Whirlpool washers and dryers are offered in many different models. Whirlpool will use product line pricing to determine the price steps. When would a competitor most likely react to a firm’s price change? When the number of firms involved is small Which of the following statements regarding segmented pricing is correct? Segmented pricing practices can cause consumer resentment Chapter 4 Quiz (3 Questions) 1. Which of the following statements about marketing information systems (MIS) is correct? A good MIS must balance what user would like to have against what they really need and what is a feasible to offer 2. Survey Research is the best approach best suited for gathering ______ Descriptive research 3. Competitive marketing intelligence uses _____ data sources. Publicly available 4. Which of the following statements about online research is correct? Online surveys generally have higher response rates than those conducted by mail or by phone 5. To develop needed information, marketing information systems utilize _____. Internal databases, marketing intelligence, and marketing research 6. Using marketing information to gain customer insights is of little value unless_____; It could be used to make better marketing decisions 7. Companies set up ______, which allows key customers and value-network members to access product, account, and other type of data anytime they need to. Extranets 8. Some retailers use mannequins with hidden cameras in one eye to record customer demographics and shopping behavior in order to serve them better. This raises ethical concerns in the terms of ______ Intrustions of customer privacy 9. Which of the following statements about information and customer insights is correct? Information to gain customer insights comes from a wide variety of sources 10. After defining the problem and objective, what is the next step in the marketing process? Develop the research plan Which of the following is an advantage to using internal databases for information? They can be accessed quickly and cheaply. To learn more about the relationships and patterns contained in the vast amounts of data they collect, marketers use marketing analytics Which of the following statements regarding competitive marketing intelligence is correct? The goal of competitive marketing intelligence is to improve strategic decision making Which of the following statements regarding conducting marketing research in a foreign country is correct? Reaching respondents in other parts of the world is more difficult than it is in the United States. Much of Pinterests success is due to how they used marketing information to Identify a unique customer insight. A touch point is defined as any contract between a customer and a company. What are two main research instruments used by marketing researchers in primary data collection? Questionnaires and mechanical devices. Which of the following best describes a marketing information system (MIS) People and procedures that are used to manage information to generate and validate actionable customer and market insights. Which of the following statements about big data is correct? One result of big data is that marketing managers are often overloaded with information. Defining the problem and research objectives is the first step in the marketing research process. What are the three types of research objectives: exploratory, descriptive, casual Chapter 19 (5 Questions) 1. Which organization was designed to reassess trade barriers, establish new rules for international trade, impose international trade sanctions, and mediate global disputes? The World Trade Organization (WTO) 2. One market entry strategy is _____ in which the company makes agreements with companies in the foreign market to produce its product or provide its service. Contract Manufacturing 3. Which joint venturing method typically involves fees and royalty payments? Licensing 4. When using the global product strategy of _____ companies create something new to meet the needs of customers in a given country Product invention 5. One factor that makes management contracting an attractive entry strategy is that _____. It yields immediate income 6. Which type of industrial structure offers the fewest marketing opportunities? Subsistence economies 7. What are the two keys links in a whole channel view of international distribution? Channels between nations and channels within nations 8. Which of the following statements about the global marketplace is correct? Domestic firms need to internationalize to take advantage of growing markets throughout the world 9. To assess the impact of _____ on global markets, marketers would look to a country’s norms, folkways, and taboos. Culture
Exam 2 Quiz answers highlight v4
Course: Marketing (BUSML 650)
University: Ohio State University
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