Chapter 1

Question 1

What is marketing?

Answer 1

The activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value

Question 2

What is value?

Answer 2

Customer’s perception of benefits of product or service against cost

Question 3

What are the four Ps?

Answer 3

Price, product, place, promotion

Question 4

What is the purpose of the IMC?

Answer 4

Ensure all marketing and promotional activities project a consistent image

Question 5

What is the role of IMC in branding?

Answer 5

develop and sustain brand identity and equity, connect with consumers based on trust, transparency, engagement and authenticity

Question 6

What is sustainability?

Answer 6

development that meets needs of current generation without compromising ability of future generations to meet ther needs

Question 7

What is brand activism?

Answer 7

Company taking a stand to promote social, political, economic or environmental reform to improve society

Question 8

What is promotion?

Answer 8

Seller-initiated efforts to set up channels of info and persuasion & sell goods or promote an idea

Question 9

What are the elements of the promotional mix?

Answer 9

advertising, direct marketing, digital/internet marketing, sales promotion, publicity/pr, personal selling

Question 10

What is advertising?

Answer 10

any paid form of nonpersonal communication

Question 11

What is the nonpersonal component of advertising?

Answer 11

involves mass media, message transmitted to large groups, no opportunity for immediate feedback

Question 12

What are the benefits of advertising?

Answer 12

cost-effective way to reach large group of consumers, builds brand equity, can be directed to different groups

Question 13

What is primary demand advertising?

Answer 13

stimulates demand for general product class or entire industry

Question 14

what is selective demand advertising?

Answer 14

created demand for specific company’s brands

Question 15

What is direct marketing?

Answer 15

Communicating directly with target customers to generate a response or transactions

Question 16

What is interactive media?

Answer 16

Allows users to participate in and modify the form and content of information they receive in real time

Question 17

what is social media?

Answer 17

online means of communication and interactions used to create, share and exchange content

Question 18

True or false: digital marketing can be targeted to specific customer segments

Answer 18

true

Question 19

What is mobile marketing?

Answer 19

messages delivered specific to consumer’s location or consumption situation

Question 20

true or false: internet marketing measures less precisely the effect of advertising and promotion

Answer 20

false

Question 21

What is sales promotion?

Answer 21

mktg activities that provide extra value or incentives to the salesforce, distributors and ultimate consumer

Question 22

What is publicity?

Answer 22

nonpersonal communication not directly paid for un run under identified sponsorship

Question 23

What is the objective of PR?

Answer 23

Build mutually beneficial relationships between organizations and their publics

Question 24

What is personal selling?

Answer 24

person-to-person communication in which seller attempts to assist and persuade prospective buyers to take action

Question 25

Every opportunity customer has to see or hear about a company and/or its brands or have an encounter with it

Answer 25

Touchpoint

Question 26

True or false: when there is high impact there is high ability to control

Answer 26

false

Question 27

true or false: when there is high ability to control there is low impact

Answer 27

true

Question 28

What are the elements of the marketing plan?

Answer 28

situation analysis, objectives, selection of target markets, program of implementation, monitoring and evaluating

Question 29

what are marketing objectives?

Answer 29

determined what is to be accomplished by overall marketing program (sales, market share, profitability)

Question 30

what are communication objectives?

Answer 30

determine what the firm seeks to accomplish with its promotional program