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COB 300D-Exam 2

Direct marketing channel - correct answer ✔✔company sells directly to consumers Retailer Channel - correct answer ✔✔Producer --> Retailers --> Consumers -Car manufacturers Wholesaler Channel - correct answer ✔✔Producer --> Wholesalers --> Retailers --> Consumers -Need to pay more retailer slotting fees to get more self space Agent retail channel - correct answer ✔✔Producer ---> Agent ---> wholesaler ---> retailer ---> Consumer -Diamond Companies Selective distribution - correct answer ✔✔A few companies can sell the product -Rolex Exclusive distribution - correct answer ✔✔only one retailer sells the firms products -Car dealers -Machine dealer Prevents competition Intensive distribution - correct answer ✔✔stocking the product in as many outlets as possible -Paper towels independent retailer - correct answer ✔✔a retailer owned by a single person or partnership and not operated as part of a larger retail institution -Boutique -Mom & Pop

Specialty Retailers - correct answer ✔✔emphasize narrow and deep assortments -downtown shops Contractual Systems - correct answer ✔✔franchises -15-20% of merchandise in determined by store owner Self-service - correct answer ✔✔-vending machines, red-box, gas station Limited Service - correct answer ✔✔Reactive service, only help when asked -Walmart Full service - correct answer ✔✔Proactive service & post-sale services -Bloomingdales Stores vary in the ______ and _______ of their merchandise lines - correct answer ✔✔Breadth and depth Premium Retailers - correct answer ✔✔focused on customer and brand orientation Emergent Retailers - correct answer ✔✔-React quickly to price changes -cost and sales orientation -99cent stores, car dealership, furniture sales Hybrid retailers - correct answer ✔✔-trying to be a little bit of everything -Big-box retailers Coupons - correct answer ✔✔- goal is to increase demand

• buy 1 get 1 free

Deals - correct answer ✔✔-creating DEALS for your customers to create trials for a product Premiums - correct answer ✔✔increase quantity to try to gain more customers Contests - correct answer ✔✔-Encourages customers to buy more by completing a game

• increased loyalty Sweepstakes - correct answer ✔✔-Goal is to gather contact information from customers Samples - correct answer ✔✔- Encourages trial of your product Loyalty Program - correct answer ✔✔-Encourages repeat purchases Point-of-purcahse displays - correct answer ✔✔-create awareness and trial Rebates - correct answer ✔✔-provide company with contact information Product placement - correct answer ✔✔-introduce products to your target market Publicity tools - correct answer ✔✔An announcement coming out of your organization but a media outlet plays it without paying them
• news releases
• news conferences
  • announce new "amazing" product Sponsorship - correct answer ✔✔careful choice of an event your target market will attend to sponsor

Social responsibility - correct answer ✔✔choosing causes to supports financially that your target market cares about A Direct marketing benefit - correct answer ✔✔can change message for each target group Value of direct marketing - correct answer ✔✔create orders generate leads increase website traffic Promotional Mix - correct answer ✔✔the combination of promotional tools—including advertising, public relations, personal selling, sales promotion, and social media—used to reach the target market and fulfill the organization's overall goals Integrated Marketing Communications - correct answer ✔✔Make sure your theme is consistent and integrated in your marketing strategies Make sure your marketing message is __________? - correct answer ✔✔easy to understand, simple, and clear Advertisements are made to create ____________ between the consumer and their products - correct answer ✔✔Connections -usually single and simple messages -create awareness Advertising strengths and weaknesses - correct answer ✔✔Strengths: Efficient means for reaching large numbers of people Weaknesses: High absolute costs, difficult to receive good feedback Personal Selling strengths and weaknesses - correct answer ✔✔Strength - Immediate feedback, Very persuasive, Can select audience, Can give complex information Weakness - Extremely expensive per exposure, Messages may differ between salespeople

Public relations strengths and weaknesses - correct answer ✔✔Strengths: Often most credible source in the consumer's mind Weaknesses: Difficult to get media cooperation Sales promotions strengths and weaknesses - correct answer ✔✔Strengths: effective at changing behavior in the short run, very flexible Weaknesses: easily abused, can lead to promotion wars, easily duplicated Direct marketing strengths and weaknesses - correct answer ✔✔Strengths: Messages can be prepared quickly. Facilitates relationship with customer Weaknesses: Declining customer response. Database management is expensive need to create ______________ ____________ ______ for each target market - correct answer ✔✔separate promotional plan Push Strategy - correct answer ✔✔campaigns target the intermediaries and count on them to push products to consumers -sales promotions and discounts for the intermediaries pull strategy - correct answer ✔✔target the consumer which causes all the following steps (retailer, wholesaler) to pull back to the manufacturer The pull strategy is better for companies with more _________ _______? - correct answer ✔✔Brand recognition -Know what you want when you shop percentage of sales budgeting - correct answer ✔✔Taking a fixed percentage of the sales as your budget Competitive parity budget - correct answer ✔✔matching the competitor's absolute level of spending or the proportion per point of market share

all-you-can-afford budgeting - correct answer ✔✔allocating funds to promotion only after all other budget items are covered objective and task budgeting - correct answer ✔✔exact amount of money you need based on amount of people and method Advertising examples - correct answer ✔✔TV, Radio, Magazine, Internet, Billboard Sales promotion examples - correct answer ✔✔Coupons, Buy 1 Get one, Sweepstakes Personal Selling examples - correct answer ✔✔Salary, commission, bonus Public relations examples - correct answer ✔✔Publicity, sponsorship, social responsibility Direct marketing examples - correct answer ✔✔Coupons, surveys, brochures, catalogs, e-mails Promotion appeals - correct answer ✔✔• Humor

• Sex
• Emotion
• Scarcity
• Demographic (gender, age)
• Lifestyle
• Bandwagon things to consider when you Schedule the promotion - correct answer ✔✔• Seasonality
• Target market media habits
• Target market usage Pretest the Promotion - correct answer ✔✔show commercials and videos to people in target market

-focus group stage -applies to all media Evaluation - correct answer ✔✔Advertising:

• Ad recall Sales Promos:
• Coupon usage Personal Selling:
• Order amount, quota PR:
• Press clippings Direct:
• Response rates Awareness advertisements - correct answer ✔✔give information or create awareness to your target market -Apple pay advertisements Reminder Advertisements - correct answer ✔✔remind people about difference points of your brand -competitive advantage -timberland shoes Competitive ads - correct answer ✔✔directly compare company to competitors in ad (can either name competitor or not) -include points of differentiation -Campbells, McDonalds Steps in Developing the Advertising Program - correct answer ✔✔1. Identifying the Target Audience

2. Specifying the Advertising Objectives

3. Setting the Advertising Budget
4. Creating the Actual Message
5. Selecting the Advertising Media
6. Scheduling the Advertising
7. Pre-testing
8. Executing
9. Post-testing Selecting Media (types of media) - correct answer ✔✔TV, radio, magazines, newspapers, yellow pages, internet, outdoor, direct mail Continuos advertising schedule - correct answer ✔✔same budget every month, which in-turn means same ads run each month flighting advertising schedule - correct answer ✔✔an advertising schedule implemented in spurts, with periods of heavy advertising followed by periods of no advertising -during specific seasons pulsing advertising schedule - correct answer ✔✔combines the continuous and flighting schedules by maintaining a base level of advertising but increasing advertising intensity during certain periods full-service agency - correct answer ✔✔does research, selects media, develops copy, and produces artwork; also coordinates integrated campaigns with all marketing efforts limited service(specialty) agency - correct answer ✔✔specializes in one aspect of the creative process; usually provides creative production work; buys previous unpurchased media space In-house agency - correct answer ✔✔provides range of services, depending on company needs Guerilla Warfare (Marketing) - correct answer ✔✔catching your target market by surprise

Facebook in a Brand Manager's Strategy - correct answer ✔✔make it familiar, but with a twist; leverage your assets; keep it fresh; let users get engaged and guide content X (Twitter)/Instagram/Snapchat/TikTok in a Brand Manager's Strategy - correct answer ✔✔• Generate Brand Buzz

• Hashtag campaigns LinkedIn in a Brand Manager's Strategy - correct answer ✔✔make connections; find jobs and business opportunities; review profiles; enable advertisers to reach people Search engine optimization - correct answer ✔✔2 main things -code words in website code (metatab) -create traffic to your site Prospecting - correct answer ✔✔search for and qualify prospects Preapproach - correct answer ✔✔gather information and decide how to approach the prospect approach - correct answer ✔✔gain a prospect's attention, stimulate interest, and make transition to the presentation Presentations - correct answer ✔✔Begin converting the prospect into a customer by creating a desire for the product or service Handling objections - correct answer ✔✔acknowledge and convert postpone agree and neutralize acceptance denial

Close - correct answer ✔✔obtain a purchase commitment from the prospect and create a customer Follow-Up - correct answer ✔✔ensure that the customer is satisfied with the product or service Output related objectives - correct answer ✔✔Calls, texts, etc behaviorally related sales objectives - correct answer ✔✔loyalty from customer to sales people Input-related sales objectives - correct answer ✔✔based around the salespersons inputs Competition related sales objectives - correct answer ✔✔based around a form of competition

of sales people needed - correct answer ✔✔# of customers X call freq X avg length of calls / 1400 hrs

Structure of the salesforce - correct answer ✔✔customer, product, geography salesforce motivation and compensation - correct answer ✔✔straight salary straight commission combination nonmonetary Quantitative Assessment - correct answer ✔✔-Sales Quota -Expenses -New Accounts behavioral assessment - correct answer ✔✔subjective measures such as customer satisfaction Relationship Selling - correct answer ✔✔sales people build social capital with consumers to create and retain sales

partnership selling - correct answer ✔✔the practice whereby buyers and sellers combine their expertise and resources to create customized solutions,