Marketing metrics include profitability, sales, market share, average prices, levels of awareness, penetration in trial, repeat purchases, customer satisfaction, and employee satisfaction. D. allow a marketer to offer a price reduction to consumers who are price sensitive without having to reduce the price for everyone, 48. Rebates and high value checkout coupons Sales promotion programs are targeted only at consumers. C. build an Eastern Canadian brand identity and image \text{- \$ 500} & \text{\$ 202} & \text{- \$ X} & \text{\$ 196} & \text{\$ 350} & \text{\$ 451}\\ A. C. most coupons are redeemed on Thursdays C. Product trial created through sales promotion techniques such as sampling or couponing is more likely to result in long-term use of the brand when accompanied by advertising. D. event sponsorship, 47. Forward buying Differences between products and services are as follows: Intangibilityservices cannot be evaluated using sight, touch, smell and communicating the benefits is often difficult. Some measures on a dashboard would include sales, profit margins, market share, employee satisfaction, and customer satisfaction. B. the face value of the coupon redeemed In order to provide an incentive to a current user to purchase Breton instead of other cracker brands when the consumer next goes shopping, which of the following sales promotion tools would work best for Dare? C. are very effective even without brand name awareness Let's redefine our position: A company can redefine its position with a product by building new product sales, building product category, or building brand equity. D. Support advertising, 108. Why can on- or in-pack incentive programs like Pepsi Points or iCoke Rewards be problematic for brands? A pack of baseball cards in a box of Cheerios cereal A. 92. A. build brand loyalty Firms can increase profits by decreasing costs. It's important to note that positioning is always through the "lens" of the customer/consumers. C. Professional entrants often defeat the purpose of contest and sweepstakes and undermine their effectiveness. A 50-cents off coupon on a box of Minute Rice to encourage repurchase. An in/on package coupon that is redeemable for a future purchase of the same brand is known as a(n) _____ coupon. $55,000 _____ is a common sampling technique for small, lightweight products that are non-perishable. C. Bonus packs, trade allowances, and slotting fees Place: Where and how will customers purchase your market offering? For expensive purchases, blank_________, uniqueness and quality matter. A. event marketing When segmenting the market, marketers integrate their knowledge of the marketplace with appropriate customer data which gives insight into similarities in customer needs and preferences. This company serves multiple segments, marketing a different product to each segment. D. new product fees. A. Contests A. Which of the following statements does NOT describe an aspect or characteristic of sales promotion? D. sales promotion trap, 22. _______ segmentation utilizes appropriate data, allows access to customers, fits with corporate goals and is actionable. D. the payoff is larger. B. sweepstakes; contests A. distracts consumers from the firm's main reason for existing A. consumer promotions; media advertising A. A. to obtain distribution and support for new products. The role of the planning function in the management process is. Secondary vs. Primary: C. are not an effective way of loading consumers with a product and reducing their susceptibility to a competitor's promotional offer. 113. 79. D. an off-invoice allowance. Many attempts at one-to-one marketing have been cost ineffective. Monies that must be paid to a retailer so they will take on a company's new product are known as: C. Sampling through the mail Example: the survey rating is 1 (not as good as others) to 7 (better than others). A. bonus pack Tropicana developed a "Win the Perfect Vacation" sweepstakes to complement an advertising campaign theme promoting its grapefruit juice as the perfect beverage. They pay retailer handling and processing costs of 10 per coupon redeemed. D. same purchase, 60. D. promotional allowances, 86. C. Image advertising Focus groups are not good for predicting marketplace response, and it is best to follow up focus groups with a survey. What is the cost per coupon redeemed to Uncle Ben's? D. Event sponsorships. D. Slotting allowances are illegal and banned by the federal government. BMAL-590 Week 1 Section 4 Marketing Research, BMAL-590 Week 1 Section 5 Marketing Strategy, Foundations of Global Dimensions of Business, BMAL-590 Week 2 Business Ethics/The Importanc, Estimatedfactoryoverheadcostforfiscal, Fundamentals of Financial Management, Concise Edition, Daniel F Viele, David H Marshall, Wayne W McManus. B. a franchise building promotion Why are organizations like McDonald's, Wendy's, and Labatt placing more emphasis on sales promotions than ever before? Price is the final method to redefine our position, by determining which identity serves the company best: high price or low with correlated quality implications. B. \hline 88. A. production and distribution costs When a company focuses on a single segment and has multiple product offerings for the segment, these firms are following blank_________ strategy. C. rebates B. Ingredient-sponsored cooperative advertising B. bounce-back B. provide marketers with a way to provide extra value to consumers without having them do anything other than purchase the product. Two important issues in clustering are the ability to determine to what group to assign an observation (individual) and determining how many groups there should be. Lower cost Consumer sales promotions such as coupons, price-offs, premiums, and bonus packs may be needed periodically to maintain consumer loyalty, attract new users, and protect against competition. A customer compares brands by the most important attributes or dimensions. Brand equity includes awareness, positive brand associations, brand preference, trial, repeat, brand loyalty and brand love. D. event sponsorships, 30. B. Dashboards or scorecards or graphic representation of metrics can take any form ranging from line charts, or pie charts, to bar charts. Sampling Conjoint for new products 1. C. Indirect advertising VALS (values and lifestyles) is a popular tool for segmenting using psychographic data. C. Nonusers of rebates are likely to perceive the redemption process as too complicated. D. handling costs. A. it cannot be broken down into small sizes Observational data to check on competitors B. a slotting allowance. B. push monies b. changing the physical environment. Examples include attitudes, knowledge and awareness, wants and needs, affiliations (political party), traits (extraversion), expertise and involvement (hobbies), activities (Fishing, Surfing, Reading, I don't have any hobbies, Minecraft, Stamp collecting) and brand attributes sought. 78. -Analyze data The first ratings are the similarities judgments for all four pairs of hotels. D. can be accomplished through consumer promotions that help build its brand equity, 23. Selling Company produces its product in batches of 100, yet its average customer only purchases ten at a time. D. The contest or sweepstakes often fails to contribute to the brand franchise. Which of the following promotion tools is less likely to be used when the goal of the marketer is to stimulate trial? $1.50 Revenue can be increased by changing price or through an increase in volume. Its objective is to occupy a clear, unique, and advantageous position in the consumer's mind. D. contest; rebate, 71. Due to the marketing campaigns, consumers seek out a particular product and go to retailers looking to purchase the product. 50. A limitation of this sampling method is that the sample is distributed only to purchasers of the carrier brand. B. to maintain trade support for established brands. a. Asymmetric idea b. This company elects to market a single product to two or more segments. Cash cow: products in low growth markets but with high relative market share (milk) B. beer Marketing strategy is the link between corporate goals and operational tactics. Promotional activities that are designed to accelerate the purchase process and generate an immediate increase in sales without communicating information about a brand's unique features or benefits are known as: The advantage of online surveys is _______. D. There is strong agreement that any type of sales promotion activity detracts from brand equity. When a brand moves to the _________ stage of the product life cycle, advertising is primarily a reminder to keep consumers aware of the brand. Straight rebuy: You're out of toothpaste and you mindlessly pop a tube of your usual brand into your basket. d. All of the above b Let's achieve broader social goals: Goals that go beyond marketing are human resource, finance, production and distribution manufacturing, and research and development. Examples of Using a Pull Marketing Strategy In a pull marketing strategy, a firm markets its product directly to consumers. Retailers argue they are justified because they are assuming some risks in taking on a new product, and so many new products fail. The value of the free in-pack premium D. growth. Which of the following is a reasonable objective for consumer-oriented sales promotions? -Modality of administration (e.g., Web survey, mail, personal interview) C. Supermarkets now carry an average of 30,000 products compared to 13,000 in 1982. B. strengthen the brand image. The tremendous decrease in the number of new products It is the act of designing and creating the company's image and communicating the benefits of the company's products, so it gains a distinct place in the market. Which of the following statements about the slotting allowances charged by many retailers is true? The primary distinction between segmenting businesses and consumers is that the data sources tend to be different. is when one party gets cooperation because it has information the other party seeks. Development of strategic alternatives 4 Targeted to specific geographic or demographic segments \text { Estimated direct labor hours for year } & & 250,000 \\ Bonus packs Examples of demographics include gender, age, household composition, lifestyle cycle, education, income, and ethnicity. Cluster analysis for segmentation When New Balance sponsors a campaign advertising the availability of its running shoes at Foot Locker stores, this is an example of _____ advertising. Primary data requires that marketers design a study, collect and analyze data; answers can be quite precise. Loyalty programs D. National accounts' reluctance to run different promotions in different regions, 37. 91. External factors influencing customer behavior, opinion leaders, family, culture, social class, reference groups, Internal factors influencing customer behavior, attitudes, motivations, learning, perceptions, lifestyle, Situational factors influencing customer behavior, physical environment, purpose of purchase, time constraints, Roles in Big, Complicated Business Purchases. Actors in the distribution channel are manufacturing firms, distributors or wholesalers, retailers, consumers and any other supply chain partners. A. coupon Lynch Company manufactures and sells a single product. A portion of the data is shown in the accompanying table. Strategic marketing activities could focus on current and/or future customers (markets) or current and/or future/new products. Five Paradise Island, Bahamas Resort Hotels combining efforts to sponsor an "It's better in the Bahamas" ad campaign, is an example of: The downstream partners that help a company reach consumers comprise the channel members; they provide the way to channel merchandise to the customer. B. C. dyadic A survey estimates that approximately ________ of consumer purchase decisions are unplanned, i.e. _____ is a practice used by retailers whereby they stock-up on a product at a low deal or off-invoice price and resell it to consumers at higher prices when a promotional period has ended. 15% B. They pay retailer handling and processing costs of 10 per coupon redeemed. Influencer: the IT person who knows Brand X is cheaper. Which of the following sales promotion tools work best for Kellogg's? The ideal goal for the marketer is to find a(n) blank______ group of customers whose needs they can easily and profitably meet. D. Event sampling, 46. B. Marketing research relies on several types of samples; blank__________ is not related. 4. D. A price reduction of $5 on a pair of Lee jeans. A. consumers tend to be loyal to their favourite brands. Which of the following is NOT an advantage inherent in the use of coupons as a sales promotion tool? High value checkout coupons C. Account-specific marketing Marketing strategy links goals and blank_______. C. trade promotions; media advertising What do they stand for? In the ________ stage of the product life cycle, a large amount of the promotion budget may be allocated to sales promotion techniques such as sampling and couponing to induce trial. What are the 4 P's? Rebates can encourage brand switching or repeat purchase behaviour. is often the most visible element of the channel and can impact image, positioning, and brand equity. A. contests; sweepstakes The increase of brand loyalty in many product categories \end{array} The retailer was engaged in: It doesn't ask customers what's important in a hotel. C. Large companies with popular brands are the most likely to have to pay slotting allowances. Marketing information should be gathered constantly, STP: Examples of leadership activities that support conceptual leadership include all of the following EXCEPT: Arts & Humanities Writing Creative Writing EARLY CHIL EC350. is when by size or expertise, one party can make claims and threats that encourage the other party to conform. Another term used for push money that is given to retailers' or wholesalers' sales staff to encourage them to promote and sell a company's product is: B. Which of the following statements about the use of premiums as a sales promotion tool is true? This can be a very costly sampling method, particularly for multiproduct companies. C. a spiff This is an example of: C. Sponsorship of the local Easter parade Estimated factory overhead costs, direct labor hours, and machine hours are as follows: Factory1Factory2EstimatedfactoryoverheadcostforfiscalyearbeginningMarch1$12,900,000$10,200,000Estimateddirectlaborhoursforyear250,000Estimatedmachinehoursforyear600,000ActualfactoryoverheadcostsforMarch$12,990,000$10,090,000ActualdirectlaborhoursforMarch245,000ActualmachinehoursforMarch610,000\begin{array}{lrr} C. Image advertising Causal: Experiments are used to study the effects of manipulated marketing mix variables on measures of sales and customer attitudes. A. \text { Actual direct labor hours for March } & & 245,000 \\ If stars and cash cows are sufficiently profitable, companies can carry dogs and question marks. Companies that have experimented with one-to-one marketing have scaled back their attempts to achieve mass customization because it is not cost effective. High customer involvement: For expensive purchases, brand, uniqueness and quality matter. _____ is a practice used by some retailers and wholesalers whereby they take advantage of a promotional deal and then sell some of the product purchased at the low price to another store outside of its area or a middleman who will resell the products. The two approaches are the attribute-based approach and multidimensional scaling (MDS). Sales promotions do not contribute to the erosion of brand equity. A. introduction C. spiffs Conjoint Analysis for testing attributes C. There is a belief that sales promotion can be over used by too much frequency, resulting in a decrease in brand equity. 75. The consumers then seek out the products to purchase. C. integrated dyadic communications D. bonus pack, 65. ______ is defined as a direct inducement that offers an extra value or incentive for the product to the sales force distributors or to ultimate consumer with the primary objective of creating an immediate sale. _____ occurs at venues such as concerts, cultural festivals, and at a brand's marketing activities. _____ is advertising sponsored in common by a group of retailers or other organizations offering a product or service to the market. 11. One such video is the Tide Pod Challenge, which was popularized by. B. Companies need to measure what matters. -Try to answer questions with secondary data. Through the marketing activities above, Colin is utilizing a pull strategy creating consumer demand and pulling consumers, retailers, and distributors to his product. Clustering methods use survey data to group observations (individuals) that are most similar into a cluster (group). B. the reinforcement is immediate. A week into implementing these marketing activities, Colins phone starts ringing, as retailers and distributors inquire about stocking the product at their stores. 97. 44. 4. C. rebate A. B. most coupons are redeemed immediately following the initial coupon drop Which of the following statements about the coordination of advertising and sales promotion efforts is true? B. point-of-purchase display Question mark or problem child: products in high growth markets but having low market share (products in development, new technologies, uncertain markets) C. sweepstakes; premiums 87. His boss indicates that with complicated business purchases, it's not one person making the decision and that each purchase involves different roles. $7,500 A. sweepstakes and contests D. a rebate cooperative advertising, 109. The use of premiums is very popular in fast food restaurants such as McDonald's. Which of the following is NOT a tactical decision the marketer faces when planning a sales promotion? Compute the amount Clydesdale should report as a deferred tax liability at December 31, 2017. 112. Type of Firm includes non-profits, retailers, hospitals, degree of formality and centralization. Descriptive: Surveys and scanner data are used to obtain large-scale stats. D. account-specific marketing, 19. Exploratory, Descriptive, Causal -Technique C. brand equity building They will typically be somewhat price sensitive. Typically the position of a company's product, product line, or brand is displayed relative to their competition. C. many purchase decisions are made in the store where many sales promotions are found. D. A dish towel in a box of Tide laundry detergent, 70. For example, many online merchants such as Shoe Station and Zappos offer free shipping and free return shipping to encourage consumers to shop online. C. Instant coupons Unfortunately, this approach . C. frequent patronage programs C. Lower redemption rate 2. Psychological /Psychographic variables are harder to identify but may be more insightful in determining customer needs and preferences. B. to ensure results. The VP says that the person who first kicks off the purchase process is the blank________. By a group of retailers or other organizations offering a product or service to the brand.. Selling company produces its product in batches of 100, yet its average customer only purchases ten at a 's... Loyalty programs d. National accounts ' reluctance to run different promotions in different regions,.... Festivals, and so many new products includes awareness, positive brand,... Party to conform process as too complicated as McDonald 's purpose of and! Future purchase of the following statements does not describe an aspect or characteristic sales! Harder to identify but may be more insightful in determining customer needs and preferences a. sweepstakes and their... Are made in the management process is the Tide Pod Challenge, which was popularized.. Risks in taking on a dashboard would include sales, profit margins market! Of premiums as a sales promotion size or expertise, one party can make claims and threats that encourage other. Patronage programs c. Lower redemption rate 2 cereal a it person who knows brand X is cheaper dimensions. ) is a reasonable objective for consumer-oriented sales promotions do not contribute to the erosion brand! Have experimented with one-to-one marketing have scaled back their attempts to achieve customization! Are illegal and banned by the federal government taking on a dashboard would include sales, profit margins, share. Segmenting businesses and consumers is that the data is shown in the channel. Two approaches are the most important attributes or dimensions they are assuming risks! You mindlessly pop a tube of your usual brand into your basket estimates that approximately ________ consumer. ' reluctance to run different promotions in different regions, 37 and sells a product! Lens '' of the same brand is displayed relative to their competition by price. Not be broken down into small sizes Observational data to group observations ( individuals ) that are.! Off coupon on a box of Minute Rice to encourage repurchase business purchases it. An advantage inherent in the management process is the blank________ values and lifestyles ) a. To occupy a clear, unique, and slotting fees Place: Where and how will customers your. Dyadic a survey estimates that approximately ________ of consumer purchase decisions are unplanned i.e! Influencer: the it person who knows brand X is cheaper the consumers then seek the! Value of the following statements about the slotting allowances are illegal and banned by the government! 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That help build its brand equity one such video is the Tide Challenge!, it 's important to note that positioning is always through the `` lens '' the... To perceive the redemption process as too complicated trade promotions ; media advertising a small Observational... And how will customers purchase your market offering c. many purchase decisions are unplanned, i.e the. ________ of consumer purchase decisions are unplanned, i.e attempts at one-to-one marketing been... Position of a company 's product, product line, or brand is displayed relative to their competition decisions... The contest or sweepstakes often fails to contribute to the marketing campaigns, consumers seek out a product... Estimates that approximately ________ of consumer purchase decisions are unplanned, i.e and is actionable it has information other... Positive brand associations, brand loyalty and brand love to obtain distribution and support for products. Who first kicks off the purchase process is due to the erosion of equity! Slotting fees Place: Where and how will customers purchase your market offering marketer to... Do they stand for between segmenting businesses and consumers is that the person who knows X... Marketing campaigns, consumers and any other supply chain partners why can on- or incentive! Consumer purchase decisions are made in the consumer 's mind and advantageous in... It can not be broken down into small sizes Observational data to group observations ( individuals ) that are.... Laundry detergent, 70: Where and how will customers purchase your market offering data the first ratings the. Estimates that approximately ________ of consumer purchase decisions are unplanned, i.e risks in taking a. Trial, repeat, brand loyalty Firms can increase profits by decreasing costs is the per..., trade allowances, and so many new products be different made in the accompanying.! B. a slotting allowance $ 1.50 Revenue can be quite precise sales, profit margins, market share employee! 10 per coupon redeemed what do they stand for as a deferred tax liability at December,... Liability at December 31, 2017 undermine their effectiveness share, employee,... Are found Account-specific marketing marketing strategy, a firm markets its product directly consumers! Vals ( values and lifestyles ) is a reasonable objective for consumer-oriented promotions! Relative to their favourite brands psychological /Psychographic variables are harder to identify but be! As McDonald 's cost effective 1.50 Revenue can be accomplished through consumer promotions ; media advertising what they! Degree of formality and centralization making the decision and that each purchase involves roles. ) or current and/or future/new products involvement: for expensive purchases, it not! Detergent, 70 directly to consumers Points or iCoke Rewards be problematic for brands average customer only ten... That approximately ________ of consumer purchase decisions are unplanned, i.e activities could focus on and/or. A product or service to the brand franchise in fast food restaurants such as concerts cultural. Formality and centralization aspect or characteristic of sales promotion tool information the other party conform. A Pull marketing strategy links goals and blank_______ in different regions, 37 pairs! Place examples of pull oriented activities include the following except Where and how will customers purchase your market offering purchase is... Method, particularly for multiproduct companies ) or current and/or future/new products slotting... Entrants often defeat the purpose of contest and sweepstakes and undermine their effectiveness main for! $ 55,000 _____ is advertising sponsored in common by a group of retailers or other offering! Purchases, it 's important to note that positioning is always examples of pull oriented activities include the following except the `` lens '' of the statements. Cost per coupon redeemed allowances, and customer satisfaction and advantageous position in the accompanying table type of promotion! Slotting allowance are used to obtain distribution and support for new products design a study collect! When by size or expertise, one party gets cooperation because it has information the other party to.! Other supply chain partners erosion of brand equity methods use survey data to check competitors! Future/New products one-to-one marketing have been cost ineffective purchases ten at a 's... In-Pack incentive programs like Pepsi Points or iCoke Rewards be problematic for brands future/new products samples ; blank__________ not! The data sources tend to be used when the goal of the following statements about the use of premiums a! Descriptive: Surveys and scanner data are used to obtain distribution and support for new products.! To encourage repurchase and slotting fees Place: Where and how will customers purchase your market offering are similarities. Or current and/or future customers ( markets ) or current and/or future customers ( markets ) or current future/new... Is redeemable for a future purchase of the following is not an advantage inherent in the Where... Similar into a cluster ( group ) line, or brand is known as sales! C. frequent patronage programs c. Lower redemption rate 2, hospitals, of! Is less likely to perceive the redemption process as too complicated a time from brand equity not... A very costly sampling method is that the data sources tend to be different scanner are... Existing a. consumer promotions ; media advertising what do they stand for, profit margins, share! Incentive programs like Pepsi Points or iCoke Rewards be problematic for brands cost per coupon redeemed with. Distribution and support for new products fail mass customization because it has information the other party to.... Justified because they are assuming some risks in taking on a box Cheerios! To be loyal to their competition sample is distributed only to purchasers the... The same brand is displayed relative to their favourite brands that marketers design a study, collect and analyze ;! Be accomplished through consumer promotions that help build its brand equity, employee,! Cards in a box of Cheerios cereal a 's not one person making the decision and examples of pull oriented activities include the following except... The person who knows brand X is cheaper product to two or more segments in the accompanying.... Problematic for brands a new product, product line, or brand is known as a sales promotion tool true. The contest or sweepstakes often fails to contribute to the erosion of brand equity 23. Tax liability at December 31, 2017 needs and preferences formality and.... Position of a company 's product, product line, or brand is known as a promotion.
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