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MKT 309 exam 3
Terms in this set (84)
Which of the following types of advertisements is likely to be more successful in transforming a person's negative attitude toward a product into a positive one?
Which of the following best describes message execution?
It is the way an advertisement portrays its information
A(n) _____________ is the channel used to convey a message to a target market
_________ is the series of decisions advertisers make regarding the selection and use of media, allowing the marketer to optimally and cost-effectively communicate the message to the target audience.
Which of the following is an advantage of using cost per contact to determine the media mix for a product?
It enables an advertiser to compare the relative expenses of specific media vehicles.
______ is the element in the promotional mix that evaluates people's attitudes, identifies issues that may elicit their concern, and executes programs to gain their understanding and acceptance.
Kelly's Kitchen, a popular chain of fast food restaurants, offers a kids' meal pack free with every purchase of its luxury meal pack. This is an example of a:
Ads for Gelly candy feature children enjoying the candies with their parents during family trips. Which of the following executional styles of advertising is used by these ads?
A disadvantage of newspaper is that it has___________.
A low pass-along rate
A thirty-minute or longer advertisement that looks more like a television talk show than a sales pitch is known as a(n)__________.
Social bookmarking sites differ from social news sites in that:
the objective of their users is to collect, save, and share interesting and valuable links.
Which of the following is true of brands, organizations, and nonprofits that use Facebook?
Their pages are public and are thus subject to search engine indexing.
Which of the following is a location-based social networking site?
Francis, a restaurant chain's social media manager, wants to conduct an online contest to promote his restaurant. He conducts the contest in a social networking site which allows people to post only 140-characters long updates. In this context, Francis has used -_____ to conduct the contest.
Which of the following changes has been brought about in advertising because of the influence of social media?
The audience is often in control of the message, the medium, the response, or all three.
During the hot summer months, the Nick Price Golf School offers a 25 percent reduction on its golf lessons to attract golfers during the off-season. Which of the following is exemplified in this scenario?
The use of price as a promotional tool
Randy's Apparels Inc. plans to expand its customer base and product line. It introduces a new line of designer wear that are very expensive and exclusively available at Randy's. It emphasizes the high quality and exclusivity of this new line of products in its advertisements. In this case, Randy's Apparels has used _____ for the new line of products.
The quantity that people will buy of a product with elastic demand is most likely to decrease as the product's _____ increases.
GoodFurn Furniture Company has recently moved to a new, larger location. At the new location, it has been unable to attract sufficient customers. Its owner did not have the cash to pay the current loan installment due for the building and inventory. So, he decided to reduce all merchandise prices by at least 50 percent for a weekend sale to earn enough to make his loan payment. In this case, the owner's pricing objective can be classified as:
Diffusion Research Company specializes in conducting market research for various firms. When it receives proposals for new research, its management will first estimate the cost of conducting the research and producing and delivering the final research report. The management then adds 30 percent to that cost estimate. This becomes the price estimate given to the potential research client. This suggests that Diffusion Research Company uses a _____ pricing objective.
When executives from competing firms meet to decide which of them will submit the lowest bid on a contract, they are indulging in _____.
A _____ is a price reduction offered to buyers buying in multiple units or above a specified dollar amount.
Which of the following is a pricing policy whereby a firm charges a high introductory price, often coupled with heavy promotion?
When Lofonift Inc. introduced its flagship product, an MP3 player, it captured the MP3 player market by offering its product at the lowest price in the market. This forced many of its competitors out of business. In this scenario, Lofonift Inc. most likely indulged in _____.
_____ is a price tactic that charges freight costs from a given point, regardless of the city from which the goods are shipped.
Basing - Point pricing
Advertising Response function
a phenomenon in which spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing returns
a series of related advertisements focusing on a common theme, slogan, and set of advertising appeals
a form of advertising designed to enhance a company's image rather than promote a particular product
a form of advertising that touts the benefits of a specific good or service
a form of advertising designed to stimulate primary demand for a new product or product category
a form of advertising designed to influence demand for a specific brand
a form of advertising that compares two or more specifically named or shown competing brands on one or more specific attributes
a reason for a person to buy a product
Types of advertising appeal
profit, health, fear, admiration, convenience, fun and pleasure, vanity and egotism, environmental consciousness
types of advertising executions
slice of life, lifestyle, spokesperson/testimonial, fantasy, humorous, real/animated product symbols, mood or image, demonstration, musical, scientific
designation of the media, the specific publications or programs, and the insertion dates of advertising
types and tools of sales promotion
Trade allowances, push money, training, free merchandise, store demonstration, business meetings, conventions and trade shows, coupons and rebates, loyalty marketing
public relation tools
new product publicity, product placement, consumer education, sponsorship, experiential marketing, company websites
steps of a social media campaign
Listen, set objectives, define strategies, identify target markets, select tools and platforms, implement and monitor
categories of social media users
creators, critics, collectors, joiners, spectators, inactives
social media tools
paid media[tv commercials, radio], owned media [corporate websites, blog, facebook fan page], earned media [word of mouth, twitter, facebook comments]
effective mobile technology
SMS, MMS, mobile web sites, mobile ads, bluetooth marketing, smartphone apps
social media objectives
listen and learn, build relationships and awareness, promote products and services, manage your reputation, improve customer service
using consumers to develop and market products
Value (as it pertains to price)
lower the cost, higher the value
profit oriented objective types
profit maximization, satisfactory profits, target return on investment
sales oriented objective types
market share, sales maximization
a company's product sales as a percentage of total sales for that industry
status quo objective types
a pricing objective that maintains existing prices or meets the competition's prices
how supply affect price
the quantity of a product that will be offered to the market by a supplier at various prices for a specific period
how demand affect price
the quantity of a product that will be sold in the market at various prices for a specified period of time
elasticity of demand
consumers' responsiveness or sensitivity to changes in price
factors that affect elasticity
availability of substitutions, price relative to purchasing power, product durability, product's other uses , rate of inflation
consumers buy more or less of a product when the prices change
an increase or decrease in price will not significantly affect demand
an increase in sales exactly offsets a decrease in prices, so total revenue stays the same
a strategy whereby prices are adjusted over time to maximize a company's revenue
yield management systems
discounting early purchases, limiting early sales at discounted price, overbooking capacity
varies in changes of output
does not change as levels of output change
The cost of buying the product from the producer, plus amounts for profit and for expenses not otherwise accounted for
break - even pricing
a method of determining what sales volume must be reached before total revenue equals total cost
=total FC/(price - AVC)
Other price determinants
PLC, competition, distribution strategy, internet and extranets, promotion strategy, demands of large customers, relationship to quality
a pricing policy whereby a firm charges a high introductory price, often couple with heavy promotion
a pricing policy whereby a firm charges a relatively low price for a product when it is rolled out as a way to reach the mass market
Status quo pricing
charging a price identical to or very close to the competition's price
unfair trade practices act
laws that prohibit wholesalers and retailers from selling below cost
an agreement between two or more firms on the price they will charge for a product
Hard to prove
the practice of charging a very low price for a product with the intent of driving competitors out of business or out of a market
fine - tuning the base price
discounts, allowances, rebates, geographic pricing etc...
FOB origin pricing
a price tactic that requires the buyer to absorb the freight costs from the shipping point
uniform delivered pricing
a price tactic in which the seller pays the actual charges and bills every purchaser an identical, flat freight charge
a modification of uniform delivered pricing that divides the U.S. into segments or zones and charges a flat freight rate to all customers in a given zone
freight absorption pricing
the seller pays all or part of the actual freight charges and does not pass them onto the buyer
basing point pricing
charges freight from a given point, regardless of the city from which the goods are shipped
single price tactic
offers all goods and services at the same price
different customers pay different prices for essentially the same merchandise bought in equal quantities. EX: car dealers
offering a product line with several items at a specific price points EX: Cellphone companies
marketing two or more products in a single package for a special price EX: charter
an extra fee paid by the consumer for violating the terms of the purchase agreement
product line pricing
setting prices for an entire line of product
pricing for inflation
Cost oriented tactics (delayed quotation pricing, escalator pricing), demand oriented pricing (cultivate selected demand, create unique offerings, change the package design, heighten buyer dependence)
pricing during recession
renegotiating contracts, offering help, keeping the pressure on, paring down suppliers
This set is often in folders with...
Principles of Marketing
Marketing Chapter 17
Marketing test 4
chapter 15: marketing communications
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