Final Flashcards Preview

Marketing > Final > Flashcards

Flashcards in Final Deck (45):
1

T or F
Services are considered inseparable because most services cannot be felt or touched in the same way most goods can be sensed.

False

2

T or F
Many businesses have found that it is more expensive to retain the customers they have than to focus only on attracting new ones.

False

3

Auto repair, manicures, and landscaping are all services that are produced and consumed at the same time. All of these services exhibit the service characteristic of:

Inseparability

4

The level of relationship marketing that is least likely to be effective in the long term because its advantage is easily imitated by other firms is based on:

Pricing Incentives

5

A management consulting business stays in touch with its business customers with phone calls and greeting cards. It periodically sends out needs-assessment questionnaires and designs new services to meet the needs revealed in these surveys. This is an example of relationship marketing based on:

Social Bonds

6

Services have four unique characteristics that distinguish them from goods. Name and briefly define each of these four characteristics.

Intangible
-Services cannot be touched, seen, or used in the same way that a good is and because of this, services are easy to replicate while not all goods are.

Inseparable
-Goods are produced, sold, and then consumed while services are sold, produced, and consumed at the same time so there is a difference because consumers are involved in the production in services while they are not at all involved in the production of goods.

Heterogeneous
-Services are less standardized than goods are because consistency, reliability, and quality control are hard to control from service to service.

Perishable
-Services cannot be stored like goods can so if they are not purchased and used then that revenue is instantly lost, while for goods they have lots of time available for the good to be purchased

7

the difference between internal marketing and relationship marketing? Why are these types of marketing important to service marketing?

Relationship marketing involves attracting, developing, and retaining customer relationships to build strong customer loyalty while internal marketing involves treating the employees as customers by developing systems that satisfy them. The main difference between the two is that relationship marketing focuses on the consumer while internal marketing focuses on the employees. These are both important to service marketing because it is extremely effective and beneficial to keep existing customers (relationship marketing) and it is also extremely important to keep the employees happy in order to run a thorough and effective company.

8

What are the 5 components of service quality?

Reliability
-The ability to perform dependently,
accurately, and consistently.

Responsiveness
-The ability to provide
prompt service.

Assurance
-The knowledge and courtesy
of employees.

Empathy
-Caring, individualized attention to customers.

Tangibles
-The physical evidence
of a service.

9

T or F
Franchisors usually allow franchisees to alter their business format slightly in foreign markets.

True

10

T or F
A store’s atmosphere is the overall impression conveyed by a store’s physical layout, decor, and surroundings.

True

11

What are the 6 P's to retailing?

Product
Place
Promotion
Price
Personnel - unique to retailing
Presentation - unique to retailing

12

T or F
Marketers who use nonstore retailing no longer have to worry about the "place" element of the six Ps.

False

13

Small neighborhood florists, shoe stores, and ethnic food markets are most likely to be:

Independent Retailers

14

Rochelle owns and operates a McDonald’s restaurant. She has licensed the right to use McDonald’s name, logo, and products. Rochelle’s restaurant is an example of a(n):

Franchise

15

Retailing opportunities can take place without customers shopping at a store. Name and briefly discuss four forms of nonstore retailing.

Automatic Vending
-The use of machines to sell goods

Direct Retailing
-Representatives sell products door to door or at home sales parties

Direct Marketing
-Techniques to make consumers purchase items in non-retail settings

M-Commerce
-Consumers use wireless mobile devices to connect to the internet and stores from there.

16

What are the two parts to a retail marketing strategy?

1. Define and select a target market

2. Develop the 6 P's

17

Define the two types of franchising

Product and Trade Name Franchising
-Dealer agrees to sell in products provided by a manufacturer or wholesaler.

Business Format Franchising
-An ongoing business relationship between a franchiser and a franchise.

18

According to the AIDA concept, the first step an advertiser must take is to gain the consumers’

Attention

19

Explain the three basic tasks of promotion.

INFORM
•Increase awareness of a new product or brand
•Inform the market of new product attributes
•Suggest new uses for a product
•Reduce consumers' anxieties
•Tell the market about a price change
•Describe available services
•Correct false impressions
•Explain the way a product or service works
•Build a company image

PERSUADE
•Build brand preference
•Encourage brand switching
•Change customers' perceptions of product attributes
•Influence consumers to buy now
•Persuade customers to receive a sales call

REMIND
•Remind consumers that the product may be needed in the near future
•Remind consumers where to buy the product
•Keep the product in consumers' minds during off times
•Maintain consumer awareness

20

The promotional mix is made up of a blend of five promotional tools. Name and briefly define each of these five tools

Advertising
-Impersonal paid communication where the company is identified

Public Relations
-Evaluates public attitudes, recognizes what the company may be interested in, and executes a program to earn public acceptance

Sales Promotion
-Activities that stimulate consumer buying and dealer effectiveness

Personal Selling
-A personal, paid-for communication between two people attempting to influence each other

Social Media
-Promotional tools used to facilitate conversations between people online

21

Identify and define the five types of advertising. Hint: There are two major types of advertising and special subtypes within one of these major types.

Corporate Identity
-The manner which a corporation presents themselves

Advocacy Advertising
-The use of marketing to support a message

Pioneering
-Stimulates primary demand for new products

Competitive
-influences demand for brand in the growth phase of the life cycle

Comparative
-Compares two or more competing brands product attributes

22

What are the 9 common advertising appeals?

Profit
Concern for health
Love/romance
Fear
Admiration
Convenience
Fun and pleasure
Vanity and egotism
Environmental consciousness

23

_____ is used by public relations specialists to handle the effects of unfavorable publicity.

Crisis Management

24

Explain the AIDA concept?

AIDA Concept (Attention, Interest,
Desire, Action)

Model that outlines
the process for achieving promotional
goals in terms of stages of consumer
Involvement with the message.

25

What are the factors affecting the choice of promotional mix

Nature of the product
Stage in PLC
Target market factors
Type of buying decision
Promotion funds
Push or pull strategy

26

T or F
Sweepstakes are promotions in which participants use some skill or ability to compete for prizes. Winning a contest, on the other hand, depends on chance or luck.

False

27

T or F
The first step in the selling process is approaching the customer and probing needs

False

28

T or F
If a potential customer has objections after the salesperson has made a presentation, it is an indication the salesperson has done a poor job.

False

29

What is sales promotion?

Sales promotion is an activity in which a short-term incentive is offered to induce the purchase of a particular good or service.

30

What are the 3 sales promotion tools?

Coupon
-A certificate that entitles consumers to an immediate price reduction.

Rebate
-A cash refund given for the
purchase of a product during
a specific period.

Premium
-An extra item offered to the consumer, usually in exchange for some proof of purchase.

31

The Pillsbury Bake-Off requires people to submit a recipe using Pillsbury baking products. Finalists are brought to Pillsbury kitchens to bake their recipes so the winner of a cash prize can be chosen. This is an example of a:

Contest

32

Boeing is one of the largest aircraft manufacturers in the world. The company sells aircrafts to airlines around the world, such as Delta, China Air, and AirFrance. You would expect Boeing to rely on _____ to promote its vessels

Personal Selling

33

List six tools for consumer promotion. Give an example of each type of promotion.

Coupons and rebates
-When a company sends out offers to get percentages off or back on a product

Premiums
-Colgate offers a "buy one get one free" premium when you buy a tube of toothpaste

Loyalty marketing programs
-Fred Meyers has a loyalty card where they send you coupons and cash back coupons based on what you purchase and how much you purchase throughout the year

Contests & sweepstakes
-Sun Fix has a sweepstakes every time I go tanning where you can put your name in a drawing to win a free bottle of lotion or a tanning package.

Sampling
-Companies put samples of perfume and cologne in magazines so that consumers are able to smell them and try them on to make them want to purchase them

Point-of-purchase promotion
-I often see kombucha adds in health food stores directly next to where the kombucha is sold

Online Sales Promotions
-When a company offers free shipping or a free gift with a purchase

34

List the most common forms of trade sales promotion

Trade allowances
Push money
Training
Free merchandise
Store demonstration
Conventions & Trade shows

35

Define personal selling

Personal selling is direct communication between a sales representative and prospective buyers in an attempt to influence each other in a purchase situation.

36

Define relationship selling

A sales practice that
involves building, maintaining,
and enhancing interactions
with customers in order to
develop long-term satisfaction
through mutually beneficial
partnership.

37

What are the 7 steps in the selling process?

1.Generate leads
2.Qualify leads
3.Prode customer needs
4.Develop/propose solutions
5.Handle objections
6.Close the sale
7.Follow up

38

T or F
The best way a company can increase sales using social media is to improve customer service.

False

39

T or F
Facebook can best be characterized as a media sharing site.

False

40

T or F
This morning, Katrina received the following text message on her cell phone: Don’t forget your haircut appointment today at 10 am with Jane at HairNow. See you soon. This is an example of a mobile ad.

False

41

Identify five ideas that marketing managers should consider when setting social media objectives.

Listen and learn
Build relationships and awareness
Promote products and services
Manage your reputation
Improve customer service

42

Identify two reasons for the popularity of mobile marketing.

There are minimal barriers to entering the mobile marketing sector and companies are able to capture consumer attention in real time

43

YouTube, Flickr, and Photobucket are all examples of:

Media sharing sites

44

Brands, organizations, and nonprofits that use Facebook:

Should make their pages public and searchable

45

Bethany follows several blogs every day and checks into YouTube frequently to watch the latest videos. She doesn’t have her own Web site, and she almost never makes any comments on the sites she visits; she just enjoys reading and watching. Bethany would best be characterized as which type of social media user?

Spectator