Midterm

Question 1

Situation analysis

Answer 1

The situation analysis should be thought of as an unbiased assessment of what’s happening now. It is a fact-finding mission.

Question 2

marketing concept

Answer 2

the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition

Question 3

four Ps

Answer 3

Product, Price, Place, Promotion

Question 4

ad research

Answer 4

a specialized form of marketing research conducted to improve the efficiency of advertising

Question 5

ethnography

Answer 5

the scientific description of the customs of individual peoples and cultures

Question 6

SWOT analysis

Answer 6

strengths, weaknesses, opportunities, threats

Question 7

primary research

Answer 7

Info you construct yourself (surveys, focus groups, etc.)

Question 8

secondary research

Answer 8

Info that has been previously gathered by others. Always start with first to see if what you need is already available.

Question 9

features

Answer 9

surface statements about your product. capabilities and explanation of what product does

Question 10

benefits

Answer 10

how this product can help you and make your life better

Question 11

integrated marketing communication

Answer 11

Tools: PR, Advertising, Sales Promotion, Direct Marketing, Interactive Marketing, Personal Selling
Speaking to the consumers with a consistent voice

Question 12

demographics

Answer 12

age, gender, income, education, marital status, occupation

Question 13

psychographics

Answer 13

lifestyles, product usage, media usage

Question 14

quantitative research

Answer 14

Broader, numerical info that is statistically reliable and projectable

Question 15

qualitative research

Answer 15

In-depth, non-numeric info. Consumer’s attitudes, feelings, beliefs. Attempts to find out why.

Question 16

problems/opportunities

Answer 16

bridge from your situation analysis to your objectives and strategies.

Question 17

elements of good objectives

Answer 17

measurable, realistic, timely

Question 18

marketing communication strategy

Answer 18

the “promotion” part of the “marketing mix” or the “four Ps”: price, place, promotion, and product. It can also refer to the strategy used by a company or individual to reach their target market through various types of communication

Question 19

positioning

Answer 19

An effort to influence consumer perception of a brand or product relative to the perception of competing brands or products. Its objective is to occupy a clear, unique, and advantageous position in the consumer’s mind.

Question 20

branding

Answer 20

Found a need and made a promise to consumers.

A brand is a collection of perceptions in the mind of the consumer.

Question 21

brand equity

Answer 21

the commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself

Question 22

segmentation approaches

Answer 22

aimed marketing to target specific segments of an overall market using demographics and psychographics

Question 23

relationship marketing

Answer 23

a facet of customer relationship management (CRM) that focuses on customer loyalty and long-term customer engagement rather than shorter-term goals like customer acquisition and individual sales

Question 24

media objectives

Answer 24

reach, frequency, gross impressions, GRPs(Gross Rating Point) TRPs(Television rating point), etc.

Question 25

media strategy

Answer 25

Plan of attack, how to accomplish your objectives.

Question 26

media tactics

Answer 26

Actual executions, making the plan come to life.

Question 27

creative strategy

Answer 27

explains how the advertising campaign will meet the advertising objectives of the business

Question 28

strategic focal point

Answer 28

key message

Question 29

physical/psychological continuity

Answer 29

physical: something in each ad that leaves a similar impression (slogan, tagline, trade characters) psychological: unify the way people think about their advertising (similar theme, image, tone or attitude)

Question 30

preemptive claim

Answer 30

making something unique to your brand that is inherently ubiquitous to the category

Question 31

media scheduling patterns

Answer 31

the pattern of advertising timing, represented as plots on a yearly flowchart

Question 32

global marketing

Answer 32

important for products that have universal demand, such as food and automobiles.

Question 33

special markets

Answer 33

global, african american, hispanic, asian, lgbt

Question 34

sales promotion

Answer 34

The use of any incentiveby a manufacturer to induce the trade(wholesalers and retailers) and/or consumersto buy a brand and to encourage the sales forceto aggressively sell it.

Question 35

branded entertainment

Answer 35

an entertainment-based vehicle that is funded by and complementary to a brand's marketing strategy. Ultimately, the content gives the brand an opportunity to connect with its audience in a unique, engaging way

Question 36

buzz marketing

Answer 36

a term used in viral marketing—is the interaction of consumers and users of a product or service which amplifies or alters the original marketing message. This emotion, energy, excitement, or anticipation about a product or service can be positive or negative.

Question 37

cause-related marketing

Answer 37

cooperative efforts of a for-profit business and a non-profit organization for mutual benefit

Question 38

concurrent testing

Answer 38

research that takes place while the campaign is running in the market place.

Question 39

posttesting

Answer 39

specialized field of marketing research that determines an ad’s effectiveness based on consumer responses, feedback, and behavior

Question 40

guerrilla marketing

Answer 40

appropriate for companies that, relative to the competition, are too small to launch offensive or flanking moves

Question 41

KPI

Answer 41

key performance indicator, measurable value that demonstrates how effectively a company is achieving key business objectives