Chapter 10 and 11 exam review

Question 1

electronic media that function using digital codes (rather than film, or magnetic media

Answer 1

Digital media

Question 2

uses digital media to develop communications and exchanges with customers

Answer 2

digital marketing

Question 3

refers to the strategic process of distributing, promoting, pricing products, and discovering the desires of customers using digital media and digital marketing

Answer 3

Electronic Marketing (e-marketing )

Question 4

the ability of the marketer to identify customers before they make a purchase

Answer 4

addressability

Question 5

allows customers to express their needs and wants directly to the firm in response to its communications

Answer 5

interactivity

Question 6

the ability to obtain digital information on competing products, prices, reviews and details on firms

Answer 6

accessibility

Question 7

keeps customers and businesses connected with each other

Answer 7

connectivity

Question 8

consumer’s ability to regulate the information they receive via the internet

Answer 8

control

Question 9

what are the 5 characteristics why digital marketing is different than traditional

Answer 9

addressability, interactivity, accessibility, connectivity, and control

Question 10

allows marketers to offer promotions via customers’ mobile devices

Answer 10

mobile marketing

Question 11

Marketers use social networks to…

Answer 11

promote products, handle questions and complaints, and to provide information to assist customers in buying decisions

Question 12

a web-based meeting place for friends, family, co-workers, and peers allowing users to create a profile and connect with other users fo purposes ranging from getting acquainted to keeping in touch and building a work-related network

Answer 12

Social Networks

Question 13

are web-based journals in which writers can editorialize and interact with other internet users

Answer 13

Blogs

Question 14

a type of software that creates an interface enabling users to add or edit content of some websites

Answer 14

Wiki

Question 15

a media sharing site that allows companies to market themselves with snapshots of company events

Answer 15

Photosharing

Question 16

media sharing site that allows companies to upload ads and informational videos and are now using consumer-generated videos

Answer 16

video sharing

Question 17

media sharing that is audio or video files that can be downloaded with a subscription that automatically delivers new content to listening devices or personal computers; offers convenience allowing users to listen when and where they choose

Answer 17

podcasting

Question 18

user-created, 3D worlds with their own economies, currencies, and businesses; allows businesses to reach consumers in a creative, fun way

Answer 18

Virtual Sites

Question 19

6 common mobile marketing tools

Answer 19

sms messages, mobile ads, location-based networks, multimedia messages, mobile websites, mobile applications

Question 20

bring convenience and cost-saving to the customer; companies are using mobile marketing to offer consumers additional incentives

Answer 20

Apps

Question 21

small bits of software on a website, desktop or mobile device; innovative digital marketing too to personalized webpages, alerts users to company information and spread product awareness

Answer 21

Widgets

Question 22

what are the four points of online consumer behavior

Answer 22

requires constant effort to stay on top of the latest technology; customers’ habits and consumption pattern’s change, learning how we use new media can be daunting for many marketers; 7 different types of digital technology users (Forrester research)

Question 23

connectivity of digital media creates opportunities for businesses to add services and enhance product benefit; some products are only available digitally, the internet is a large resource of consumer needs

Answer 23

Product consideration

Question 24

internet is a new distribution channel; reduces inefficiencies, costs, and redundancies and increases speed. distribution involves a push-pull dynamic

Answer 24

distribution consideration

Question 25

social networking sites allows marketers to approach promotion in entirely new, creative ways; digital promotions attempts to increase brand awareness

Answer 25

promotion considerations

Question 26

pricing releases to perceptions of value and is the most flexible element in the marketing mix; digital online media marketing facilitates both price and nonprice competition

Answer 26

price considerations

Question 27

a significant privacy issue is the personal information companies collect from website visitors

Answer 27

Privacy

Question 28

any attempt to conduct fraudulent activities online, including deceiving customers into releasing personal information

Answer 28

online fraud

Question 29

name three governmental legislations implementing safeguards

Answer 29

U.S. Federal Trade Commission; American association of advertising agencies; the association of national advertisers

Question 30

setting up fraudulent profiles on social networking sites | using social network sites to pose as charitable institutions

Answer 30

Cybercriminals

Question 31

can be anything from ideas and creative materials to songs, movies, books, or other products

Answer 31

Intellectual Property

Question 32

a tangible, physical entity

Answer 32

good

Question 33

the intangible result of the application of human and mechanical efforts to people or objects

Answer 33

service

Question 34

a concept, philosophy, image, or issue

Answer 34

idea

Question 35

the product's fundamental utility or main benefit; addresses basic needs of customer. Example: sports drink ----> hydrates

Answer 35

The core product

Question 36

provide the added value or attributes in addition to a product's core utility; help differentiate the product brand

Answer 36

supplemental features

Question 37

buyers purchase the benefits and satisfaction they think the product will provide

Answer 37

symbolic and experiential benefits

Question 38

products purchased to satisfy personal and family wants and needs

Answer 38

consumer products

Question 39

relatively inexpensive, frequently purchased items for which buyers exert minimal purchasing effort

Answer 39

convenience products

Question 40

items for which buyers are willing to expend considerable effort in planning and making purchases (more extensive search, available substitutes, and less frequent purchase)

Answer 40

shopping products

Question 41

require no search, many retail outlets, heavy brand promotion, reliance on self-service, available at many retailers, and usually low-cost points are strategic considerations of what kind of product

Answer 41

Convenience product

Question 42

no brand loyalty, fewer retail outlets than convenience, lower inventory turnover, personal selling, producer and channel member cooperation are strategic considerations for what kind of product

Answer 42

Shopping products

Question 43

items with unique characteristics that buyers are willing to expend considerable effort to obtain ( Require extensive search, are generally higher price points, and no ready substitutes

Answer 43

Specialty products

Question 44

limited retail outlets, lower inventory turnover, and high gross margins are strategic considerations for what type of product

Answer 44

specialty Product

Question 45

products purchased to solve a sudden problem; products of which customers are unaware; and products that people do not necessarily think of buying (no search, price is not important and purchased compelled

Answer 45

unsought products

Question 46

Built trust with consumers prior to need, recognizable brand, and superior performance are strategic considerations for what type of product

Answer 46

unsought products

Question 47

convenience product, shopping product, specialty product, and unsought product are what types of products

Answer 47

Consumer Products

Question 48

products bought to use in a firm's operations to resell or to make other products; purchased to satisfy the goals of the organization

Answer 48

business products

Question 49

facilities and non-portable equipment

Answer 49

installations

Question 50

equipment that does not become part of the final physical product but is used in the production or office activities

Answer 50

accessory equipment

Question 51

natural materials that are part of a product

Answer 51

raw materials

Question 52

finished items ready for assembly or that they need little processing

Answer 52

Component Part

Question 53

used in production but not identifiable

Answer 53

Process materials

Question 54

maintenance, repair and operating items that are not part of the final product

Answer 54

MRO supplies

Question 55

intangible products in operations

Answer 55

business services

Question 56

a specific version of a product that is a distinct offering among an organization's line of products

Answer 56

Product item

Question 57

a group of closely related product items viewed as a unit because of marketing, technical, or end-use considerations

Answer 57

Product line

Question 58

the total group of products that an organization makes available to customers

Answer 58

product mix

Question 59

the number of product lines a company offers

Answer 59

Width of the Product mix

Question 60

the average number of different products in each product line

Answer 60

depth of product mix

Question 61

the average number of different products in each product line

Answer 61

depth of product mix

Question 62

first stage of a product's life cycle sales start at 0 and profits are negative high risk of failure buyers must be made aware of features, uses, advantages sellers lack resources, technological knowledge, marketing how-to

Answer 62

Introduction

Question 63

second stage of a product's life cycle where sales rise rapidly, profits reach a peak, then they start to decline promotion costs drop as percentage of sales marketers must: -stress brand benefits to encourage brand loyalty -intensify segmentation -strengthen market share -analyze production position -ensure efficient distribution system

Answer 63

Growth

Question 64

``` thrid stage of a product's life cycle where the sales curve peaks and starts to decline and profits continue to fall intense competition weaker competitors exit the market distribution sometimes expands into global markets strategic objectives: -generate cash flow -maintain market share -increase share of customer ```

Answer 64

maturity

Question 65

``` fourth and final stage of a products life cycle where sales fall rapidly during this stage marketers will likely... -eliminate/ reposition items -cut promotions -eliminate marginal distributors -plan to phase out product ```

Answer 65

Decline

Question 66

What are the four stages of a products life cycle in order

Answer 66

introduction, growth, maturity, decline

Question 67

what are the 5 stages of the product adoption process in order

Answer 67

Awareness, interest, evaluation, trial, adoption

Question 68

the buyer becomes aware of the product

Answer 68

Awareness

Question 69

the buyer seeks information and is receptive to learning about the product

Answer 69

interest

Question 70

the buyer considers the products benefits and decides whether to try it

Answer 70

Evaluation

Question 71

the buyer examines, tests, or tries the product to determine if it meets his/her needs

Answer 71

trial

Question 72

the buyer purchases the product and can be expected to use it again whenever the need for this general type of product arises

Answer 72

Adoption

Question 73

when an organization introduces a product, people do not begin the adoption process at the same time, nor do they move through it at the same spend

Answer 73

Adoptor categories

Question 74

first adoptors of new products

Answer 74

innovators

Question 75

careful choosers of new products

Answer 75

early adopters

Question 76

those adopting new products just before the average person

Answer 76

early majority

Question 77

skeptics who adopt new products when they feel it necessary

Answer 77

late majority

Question 78

the last adopters who distrust new products

Answer 78

laggards

Question 79

what are the five adoptor categories

Answer 79

innovators, early adopters, early majority, late majority, laggards

Question 80

a name, term, design, symbol, or other feature that identifies the marketer's product as distinct from those other marketers

Answer 80

Brand

Question 81

the part of the brand that can be spoken, including letters, words, and numbers

Answer 81

brand name

Question 82

the part of the brand that is not made of up words such a symbol or design

Answer 82

Brand Mark

Question 83

a legal designation of exclusive use of brand

Answer 83

Trademark

Question 84

the full legal name of an organization

Answer 84

Trade name

Question 85

a customer's favorable attitude towards a specific brand

Answer 85

Brand loyalty

Question 86

buyer is aware that the brand exists and considers it as an alternative if the preferred brand is unavailable

Answer 86

brand recognition

Question 87

buyer prefers the product over competitive offerings and will purchase if available

Answer 87

Brand preference

Question 88

product is strongly preferred; buyer will accept no substitute

Answer 88

brand insistence

Question 89

the marketing and financial value associated with a brand's strength in a market;

Answer 89

Brand Equity

Question 90

what are the 4 brand equity elements

Answer 90

brand name and awareness, brand loyalty, perceived brand quality, brand associations

Question 91

initiated by producers to ensure that producers are identified with their products at the point of purchase

Answer 91

manufacturer brands

Question 92

initiated and owned by a reseller; manufacturers are not identified

Answer 92

Private distributer brands (private and store brands)

Question 93

indicate only the product category and do not include company name or anything identifying terms; usually sold at lower prices

Answer 93

Generics

Question 94

each product is given a different name

Answer 94

individual branding

Question 95

all of the firm's products are branded with the same name or part of the name

Answer 95

family branding

Question 96

an organization uses one of its existing brands to brand a new product in a different product category

Answer 96

brand extension

Question 97

using two or more brands on one product capitalizes on the brand equity of multiple brands can help an organization differentiate its products from competitors

Answer 97

co-branding

Question 98

an agreement in which a company permits another organization to use its brand on other products for a licensing fee result in extra revenues problem is consumer overexposure

Answer 98

Brand licensing

Question 99

protect product and maintain its functional form promotes products features and uses provide customer convenience

Answer 99

Packaging

Question 100

using similar packaging for all of a firms' products packaging that has one common design elements

Answer 100

family packaging

Question 101

to update style highlight new product features new packaging materials

Answer 101

Altering the Package

Question 102

reused for purposes other than its initial function | can add to the perception of values

Answer 102

Secondary-Use Packaging

Question 103

product is packaged in line with a particular category | traditional designs or colors are used

Answer 103

category-consistent packaging

Question 104

unique features are used to make a product distinctive | uniquely shaped packages can attract attention

Answer 104

innovative packaging

Question 105

may increase demand because it increases amount of product available at point of consumption may make products easier to handle instore

Answer 105

multiple packaging

Question 106

changing the outer carton, special bundling, shrink wrap, etc. easier in the distribution channel may help the product to proceed more easily through automated warehousing systems

Answer 106

handling-improved packaging

Question 107

is closely interrelated with packaging and is used for identification, promotional, informational, and legal purposes

Answer 107

labeling

Question 108

a series of electronically readable lines identifying a product and containing inventory and pricing information

Answer 108

Universal Product Code (UPC)