Marketing Methods and Techniques Quiz # 3

What would a company hope a potential customer would do after seeing an advertisement for a new product?

Perform some action related to purchasing the product

Remember to tell their friends

Sell their current solution and buy the new one

Do nothing

How is marketing defined in general?

Maintaining accounting records

Creating advertisements for television

Promotion of products and services, advertising, and branding

Development of products according to customer needs

What is meant by Intangible in relation to marketing?

The patents the client owns

The physical evidence of goods as a sample

Something a customer can not see, such as a service.

An asset that will depreciate in value, such as a car

Which of the following is involved in the Publicity aspect of Promotion?

Determining what product mix to offer to the customers

Creating advertisements for different markets

Managing the public perception of the product

Setting sales goals for each product line

What is another term for the four Ps?

Marketing Mix

Marketing Management

Marketing Pros and Cons

Marketing Requirements

What does Peer-to-Peer look to replace?

Active Customers with those who are more Passive

Buyers

Passive Customer Bases with Active Customer Bases

Low Income Purchasers

How would Advertising be categorized?

Directly targeting specific crowds

An ineffective method of marketing

The same as mail marketing

Aiming at mass markets

What method/s is/are used to determine customers' needs?

Examining sales history

Speculation based on prior market research of other products

Looking to competitors

Market research

Which of the following would Pricing include beyond the price for the product?

How the client receives the product

Shipping options if purchased online

Discounts available to the client

Colors the product is available in

What is another term for Peer-to-Peer?

Social Computing

Internet Marketing

Blanket Advertising

Selling

What is meant by Personal Selling?

Creating advertisements for the television

A salesman approaching potential customers

Creating banner ads for online sites

Emailing customers coupons

Why would People be an important aspect in the customers' eyes?

The people are the customers

The people handle the product and manufacture it; so it should be of good quality

The people who designed the product should make something the customer wants

The people who represent the company are inseparable from the entire service or product

How does a successful advertisement help the sales team?

It eliminates their jobs

It reduces their burden as the customers are already inclined to purchase

It shows the customers the sales team is effective

It reduces the amount of paper work they have to do

What does SIVA essentially accomplish?

It takes the four Ps of marketing and reorients them to focus more on the customer

It regulates the world of marketing

It is a throwback to the marketing techniques of old days

It helps sales people sell more

What is meant by SIVA?

The governing body over Marketing

Solution, Information, Value, Access

Sales, Information, Vehicle, Attributes

Sales, Information, Value, Access

Why is it important that companies pursue Product Focus Marketing even if it is risky?

Because it is required by law

Because it diversifies their marketing efforts

Because it is entrepreneurial and helps push the development of new products

Because other companies do not do it

What is meant by the "end user"?

The marketing manager who decides what ad campaigns to pursue

The final consumer who purchases the product or service for their use

The marketing staff where the marketing process begins

The competitors who are in the same market space

____ utility is the only type of utility created by the production process.

Form.

Time.

Place.

Production

_____ involves outsourcing production to third-party firms.

Vertical integration

Long tailing

Peer production

Contract manufacturing

Viral production

_____ is a form of distribution aimed at maximum market coverage.

Narrow distribution

Intensive distribution

Selective distribution

Exclusive distribution

In digital marketing, _____________ segmentation is more common than ___________ segmentation.

Information, entertainment

Television advertising

Behavioral, demographic

Conversion

In general, a company should enter only segments in which it can ________ and ________.

Offer lower prices; ship faster

Offer superior value; gain advantages over competitors

Offer superior value; ship faster

Gain advantages over competitors; differentiate its products

Identify behaviors; understanding spending power

Integrated marketing communications would include all of the following except ________.

Personal selling.

Advertising.

Public relations.

Supply chain management.

Direct marketing

Market research is typically ________.

Ongoing: You always do market research

Complete a year after product introduction

Complete prior to product introduction

Complete within six months after introduction

Complete when the product or service is introduced

Published data from outside the organization are referred to as __________ data.

A concept that suggests 80 percent of a firm's sales are obtained from 20 percent of its customers

Questionnaire data

Who pose as customers to check on a firm's products or services and on the quality of the customer service provided by employees.

External secondary

Recently, it has become important for value-oriented marketers to _____ with customers.

Move from a transactional orientation to a transitional perspective

Reduce the number of transactions to improve relationships

Manage transactions more efficiently

Consider how they can reduce their interactions

Move toward a relational perspective from a transactional orientation

A toothpaste tube is an example of a ________ package.

Private-label

Brand positioning

Convenience

Primary

The more precisely defined the target market is, the _____ the numbers are to estimate.

Longer

Shorter

Harder

Easier

A ________ is a group of people who would be interested in buying a given product or service.

Market

Consumer

Customer

Target

____ occurs when a method is defined in terms of itself.

Recursion

Referential Integrity

Dependence

Repeatability