Exam 5 MKT 220

Question 1

promotion

Answer 1

communication to build and maintain relationships by informing and persuading one or more audiences

Question 2

integrated marketing communications process

Answer 2

source, coding process, communication channel, decoding process, review of audience, feedback

Question 3

source

Answer 3

person, group of organization that has information it wants to share

Question 4

coding process

Answer 4

developing a message by converting meaning into a series of signs (deciding what info to share)

Question 5

communications channel

Answer 5

the entity that carries the coded message from the source to the receiver (medium of transmission)

Question 6

decoding process

Answer 6

the receiver’s interpretation of the message

Question 7

receiver

Answer 7

individual, group or organization that decodes a message

Question 8

feedback

Answer 8

receiver’s response to the source’s message

Question 9

noise

Answer 9

anything that reduces the communication clarity or accuracy

Question 10

objectives of promotion

Answer 10

create awareness, stimulate demand, encourage product trial, identify prospects, retain loyal customers, combat competitive promotional efforts, reduce sales fluctuations

Question 11

create awareness

Answer 11

important for new products

Question 12

stimulate demand

Answer 12

primary and selective

Question 13

primary demand

Answer 13

demand for a product category not a specific brand (got milk? voting, college)

Question 14

selective demand

Answer 14

demand for a specific brand

Question 15

encourage product trial

Answer 15

should be inexpensive, low risk

Question 16

identify prospects

Answer 16

consumer identifies themself as interested; do most of the work (go to website, sign-up, email list)

Question 17

retain loyal customers

Answer 17

rewards programs (kroger card, speedyrewards, food apps.)

Question 18

combat competitive promotional efforts

Answer 18

one company’s promotes in response to a competitor promotion (coke/pepsi uses frequently)

Question 19

reduce sales fluctuations

Answer 19

promotion to even out monthly sales; (starbucks heavily promotes cold drinks in summer to increase traditionally low sales)

Question 20

promotional mix

Answer 20

advertising, public relations, personal selling, sales promotion

Question 21

common criticisms of promotion

Answer 21

it is deceptive
it increases price,
it creates “needs”
it encourages materialism
occasionally it encourages the use of potentially harmful items

Question 22

advertising

Answer 22

paid, non person communication about an organization and its products transmitted to a target audience through mass media

Question 23

institutional advertising

Answer 23

promotes organization images, ideas, or political issues

Question 24

advocacy advertising

Answer 24

promoted a company’s position on a public issue

Question 25

product advertising

Answer 25

promotes the uses, features or benefits of products/brand

Question 26

pioneer advertising

Answer 26

stimulates demand for a product category (primary demand)

Question 27

competitive advertising

Answer 27

stimulates demand for specific brand (selective demand)

Question 28

advertising campaign

Answer 28

the creation and execution of a series of advertisements to communicate with the target audience

Question 29

developing an advertising campaign

Answer 29

1. identify and analyze the target audience 2. define the advertising objectives 3. create advertising platform 4. determine the advertising appropriation 5. develop the media plan 6. create the advertising messages 7. execute the campaign 8. evaluate advertising effectiveness

Question 30

benchmark

Answer 30

where we are

Question 31

future goal

Answer 31

where we want to be

Question 32

time frame

Answer 32

how long to get to future goal

Question 33

advertising platform

Answer 33

2-4 basic issues or selling points to be included in campaign

Question 34

media plan

Answer 34

sets forth the exact media to be used and the dates and times the advertisements will run

Question 35

cost comparison indicator

Answer 35

allows the advertiser to compare the cost of several media relative to the number of people reached by each medium

Question 36

effectiveness

Answer 36

pretest - use consumer jury test during campaign post-test - recognition/recall tests

Question 37

personal selling

Answer 37

paid personal communication that attempts to inform customers and persuade them to buy (more expensive than advertising)

Question 38

Personal Selling objectives

Answer 38

1. identify prospects 2. convince prospects to buy based on need 3. keep customers satisfied

Question 39

7 steps to personal selling process

Answer 39

1. prospecting 2. pre-approach 3. approach 4. making the presentation 5. overcoming objections 6. closing the sale 7. follow-up

Question 40

prospecting

Answer 40

identification of potential customers

Question 41

pre-approach

Answer 41

planning and preparation

Question 42

approach

Answer 42

the manner in which a salesperson contacts a potential customer/client

Question 43

referral approach

Answer 43

"friend or associate suggested i contact you"

Question 44

cold canvas approach (cold call)

Answer 44

little to no information or connection to organization

Question 45

repeat contact approach

Answer 45

social contact becomes business contact

Question 46

making presentation

Answer 46

needs to grab attention AND maintain/keep attention

Question 47

overcoming objections

Answer 47

reasons prospects do not buy

Question 48

closing the sale

Answer 48

*most challenging step* making the deal/ sign contract

Question 49

order getters

Answer 49

outside sales people work for organization and go out to sell in other places

Question 50

current customer order getter (Account Rep)

Answer 50

have list of people/org to call predetermined (keeping customers)

Question 51

new business order getter

Answer 51

generating new customers

Question 52

order taker

Answer 52

inside sales-- go to same location each day

Question 53

trade personnel

Answer 53

-salespeople in training -work for /under order getters -set up displays,, stock shelves

Question 54

technical personnel

Answer 54

-product training -product education -technical support

Question 55

sales promotion

Answer 55

an activity or material that acts as a direct incentive to increase sales typically immediately

Question 56

coupons

Answer 56

written and immediate reduction

Question 57

demonstration

Answer 57

showing customers how product works

Question 58

frequent user incentives

Answer 58

more you buy better the deal

Question 59

point-of-purchase display

Answer 59

items placed in out-of-ordinary locations in retail stores-- started in 1950s at the cash register

Question 60

free samples

Answer 60

in stores -- specialty events

Question 61

rebates

Answer 61

DELAYED price reduction; proof of purchase/receipt - commonly mailed in

Question 62

premiums

Answer 62

items offered for free; or at a reduced cost as a bonus for purchasing a product (usually unrelated to the original product)