-Collect data Examples include strivers who are trendy and fashionable, achievers who are more family and work directed, potential customers for cosmetic surgery, levels of expertise, and aspirations. This company serves multiple segments, marketing a different product to each segment. In order to provide an incentive to a current user to purchase Breton instead of other cracker brands while the consumer is shopping for crackers, which of the following sales promotion tools would work best for Dare? Retailers argue they are justified because there are costs associated with taking on a new product, such as entering the product into the computer and finding warehouse space. A. This can be contrasted with a pull strategy that aims to generate demand by promoting a brand to end-customers. distribution channel is a network of inter-connected firms that provide sellers a means of infusing the marketplace with their goods, and buyers a means of purchasing those goods as efficiently and profitably as possible. Some activities can be both push and pull strategies. Which of the following statements describes a major concern marketers have with trade allowances? $1.10 C. Mall poster One problem resulting from the overuse of sales promotion is a decrease in: is when by size or expertise, one party can make claims and threats that encourage the other party to conform. 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. 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. All of the following are examples of consumer-oriented sales promotion activities EXCEPT: 10. is often the most visible element of the channel and can impact image, positioning, and brand equity. The VP says that the person who first kicks off the purchase process is the blank________ Click the card to flip Flashcards Prevention costs. Sampling Geographic include country and sales force coverage. Rebates are used only for consumer durables such as automobiles and appliances. 4. Understanding power structure and handling conflict are important to channel success. C. maturity stage Question mark or problem child: products in high growth markets but having low market share (products in development, new technologies, uncertain markets) is when one party has the ability to provide good outcomes for the other party. Gray market conflict is unauthorized buying and selling among channel partners. Marketing metrics include profitability, sales, market share, average prices, levels of awareness, penetration in trial, repeat purchases, customer satisfaction, and employee satisfaction. Which of the following types of sales promotions would NOT be used to help in the introduction of a new product? Decline: Many competitors & remaining firms serve the smaller customer base. C. are not an effective way of loading consumers with a product and reducing their susceptibility to a competitor's promotional offer. Example: the survey rating is 1 (not as good as others) to 7 (better than others). B. is accomplished through short-term price-oriented promotions are networks of interconnected firms whose activities enable products to be sold and consumers to have easier access to those products. Volume can be increased by an increase in market share or an increase in market size. 79. 68. B. growth stage What are the 4 P's? D. Trade allowances are encouraging retailers to stock and promote their products on a regular basis. A. A strategy in which a firm increases demand for its products and draws (pulls) consumers to the product. The building or reinforcement of consumer-franchise or equity for a brand: Societal concerns include charitable or community contributions, local employment stability, environmentally friendly business practices and Corporate Socially Responsible (CSR) firms. C. A rebate award C. dyadic Consumers must pay the manufacturer's out-of-pocket costs for a _____ premium. To encourage off-shelf displays in major grocery stores C. slotting C. sweepstakes; premiums Marketing research relies on several types of samples; blank__________ is not related. Marketers also study patterns of co-purchasing, such as when skis are purchased or rented with boots, snowsuits, lift tickets, hotel rooms, and cocoa. Students can create, perform, and/or provide a critical response. C. instant 5. Compensation is another key issue. \text { Actual machine hours for March } & 610,000 & Place: Where and how will customers purchase your market offering? Excel shortcuts[citation CFIs free Financial Modeling Guidelines is a thorough and complete resource covering model design, model building blocks, and common tips, tricks, and What are SQL Data Types? 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. A. to create structures. C. instant Cluster and Factor Analysis are research techniques that typically are utilized in market segmentation. D. To enhance advertising and marketing efforts, 31. Sampling 92. The response variable is the mean score on the MCAS (Massachusetts Comprehensive Assessment System) exam given in May 1998 to 10th graders. A. A. horizontal cooperative The following are illustrative examples of a push . Breadth Strategy: Reaching Multiple Markets. is a type of segmentation in which the company strategically focuses and targets a smaller market with particular needs that the company can serve well. Which of the following promotion tools is less likely to be used when the goal of the marketer is to stimulate trial? Consumer buying is people buying something for themselves or their household. Marketing channels assume financial risks such as international exchange rates and inventory obsolescence; and provide marketing communications (e.g., advertising and sales promotion), physical distribution, inventory management, and market feedback. Influencer: the IT person who knows Brand X is cheaper. Which of the following is NOT true regarding slotting fees or allowances? Which of the following sales promotion techniques would be most effective for generating excitement or interest in a brand? B. Coupons 8. B. it may be too expensive to give away sample sizes that would be adequate to demonstrate the cream's benefits since it has to be used repeatedly High customer involvement: For expensive purchases, brand, uniqueness and quality matter. Which of the following statements describes how brand equity is affected by the increased role of sales promotion? B. b. 112. Buyer: administrator who orders equipment and supplies. C. Retailers can charge slotting fees because of their power and the limited availability of shelf space in many retail stores. 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. This form of performance-based assessment can take time, so there . An in/on package coupon that is redeemable for a future purchase of the same brand is known as a(n) _____ coupon. D. High value coupons and sampling, 32. They predict that the redemption rate will be 5%. 80. a person may not be retried for the same crime. D. There is no general number associated with coupon redemption. D. same purchase, 60. C. Consumers pocket most of the savings from trade promotion discounts. \hline A. A. B. to ensure results. His boss indicates that with complicated business purchases, it's not one person making the decision and that each purchase involves different roles. Education reform is one of the most hotly debated subjects on both state and national policy makers' list of socioeconomic topics. 7. C. rebates 74. To keep learning and developing your knowledge of financial analysis, we highly recommend the additional CFI resources below: A free, comprehensive best practices guide to advance your financial modeling skills, Financial Modeling & Valuation Analyst (FMVA), Commercial Banking & Credit Analyst (CBCA), Capital Markets & Securities Analyst (CMSA), Certified Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management (FPWM). D. transference charging, 98. B. provide marketers with a way to provide extra value to consumers without having them do anything other than purchase the product. This company focuses on a single segment and has multiple offerings for the segment. B. a franchise building promotion In the _________ stage of the product life cycle, promotional dollars may be used primarily for advertising to stress differences and keep the brand name in consumers' minds. 97. 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. Firms may forward integrate, meaning doing an activity that is "downstream" so the function is closer to the end consumer, or backward integrate, meaning doing an activity "upstream", so the function is further away from the customer than the company is currently doing. B. Why might the expanding populations of the region and the Ring of Fire make for a dangerous combination? 113. D. A price reduction of $5 on a pair of Lee jeans. _____ is an exhibition or forum where manufacturers can display their products to current and prospective buyers. Probability sampleImplies the probability of selecting any respondent from the population into the sample is known B. _____ occurs at venues such as concerts, cultural festivals, and at a brand's marketing activities. C. Image advertising Marketing information should be gathered constantly, STP: What do they stand for? C. Large companies with popular brands are the most likely to have to pay slotting allowances. \end{array} 96. VALS (values and lifestyles) is a popular tool for segmenting using psychographic data. c. vigilantism. b Assembly activities. C. Consumer confusion when they shop at their local store B. C. sales training programs The customer makes two kinds of ratings: How does our company rate on a number of attributes? A discount or deal that is offered to a retailer or wholesaler to encourage them to stock, promote, or display a manufacturer's product is known as: Variabilityservice quality differs based on who performs the service unless standardization in service quality is offered through training. D. End-of-aisle display, 101. B. Surveys for customer satisfaction Which is NOT one of the four classes of goals? Integration refers back to the back or buy decision that firms face when determining whether to do a distribution function or have someone else undertake the activity. Establish an effective distribution network. A. contests; sweepstakes C. A trade show D. The prime time evenings that attract the biggest percentage of the brand's target market, 38. Door-to-door sampling is a form of multi-size expansion that allows the company to retain some control without complete ownership of capital expenditure. A. offer consumers an extra amount of a product or service but at a higher than normal price. D. can be accomplished through consumer promotions that help build its brand equity, 23. Kellogg's places a 50-cent-off coupon for Rice Krispies cereal in a box of its Frosted Mini-Wheats brand of cereal. Marketing strategy is the link between corporate goals and operational tactics. C. build an Eastern Canadian brand identity and image Dare makes Breton snack crackers, which compete with many other brands in the category. D. Bauer Hockey Skates. A. production and distribution costs Development of objectives (e.g., target a specific market segment, increase market share) or identification of strategic issue (e.g., increased competition, decrease in sales) 90. The role of the planning function in the management process is. Star: products in high growth markets with high relative market share (minimize or divest) When New Balance sponsors a campaign advertising the availability of its running shoes at Foot Locker stores, this is an example of _____ advertising. C. Lower redemption rate B. d. What is the predicted score if everything else is the same as in part (c) except INC === 80?80 ?80? Companies are asking their promotion agencies to think strategically and develop programs that do more than increase short-term sales. What actions does the Fed take "when the economy is weak and unemployment is on the rise"? Modified rebuy: You reach for your brand of toothpaste but you try a new flavor. \hline 230.67 & 19.20 & 44.79 & 47.64 & 5.10 \\ A. slotting fees Quantitative: surveys, experiments, scanner data analysis D. event marketing, 82. D. trade promotions; consumer promotions, 12. D. Slotting allowances are illegal and banned by the federal government. A limitation of this sampling method is that the sample is distributed only to purchasers of the carrier brand. Targeting: Attracting some of those customers makes better sense than going after others. 49. B. Coupons are an effective way of generating trial of a new product. The franchisor (the company) benefits include capital, efficiencies and economies of scale, committed people, reduced investment risk, and the ability to focus on core functions (product development). Over the past decade, the amount of money consumer products firms devote to ______ has been declining while the amount spent on _____ has been increasing. B. to maintain trade support for established brands. Brands that make the cut on the first dimension go into the customer's consideration set. List of Excel Shortcuts B. 52. Surveys to assess customer satisfaction with Internet as a distribution option 1 According to SS+K, which of the following is both about engaging the audience and discovering opportunities to connect with them? D. promotional traps. D. Event marketing. 76. Attitudes include care about price sensitivity, risk tolerance, corporate culture, profitability, and high vs. low maintenance accounts. EstimatedfactoryoverheadcostforfiscalyearbeginningMarch1EstimateddirectlaborhoursforyearEstimatedmachinehoursforyearActualfactoryoverheadcostsforMarchActualdirectlaborhoursforMarchActualmachinehoursforMarchFactory1$12,900,000600,000$12,990,000610,000Factory2$10,200,000250,000$10,090,000245,000, 012345-$500$202-$X$196$350$451\begin{matrix} What is the total cost of the coupon promotion to Uncle Ben's? Based on these findings, what form of promotion is most effective for Gillette's Right Guard brand? Situation analysis (e.g., Internal factors such as Strengths & Weaknesses; External factors such as Opportunities &Threats analysis) Those important weights underpin how segments of customers differ. D. The contest or sweepstakes often fails to contribute to the brand franchise. B. Ingredient-sponsored cooperative advertising B. point-of-purchase display \text { Actual factory overhead costs for March } & \$ 12,990,000 & \$ 10,090,000 \\ Gatekeeper: accountant who controls the budget. They will typically be somewhat price sensitive. is when one party can make another party do something by taking away benefits or inflicting punishment on the other party. The first question is "How does our hotel rate?" Experiments to verify ad testing C. subsidized D. encourage retailers to use Eastern Canadian's planograms, 24. 15% A. event marketing The customer then compares the brand on the next important attribute and so forth, until only one brand is left. Assume that the company uses absorption costing: Assume that the company uses variable costing. This difference will reverse as follows: 2018,$42,000; 2019, $244,000; and 2020,$294,000. D. The distribution of on-package samples can be broadened by attaching them to multiple brands or to products made by other companies. A. In-store sampling D. A bonus pack, 40. When calculating the costs of a couponing program, marketers should consider all of the following EXCEPT: New usage suggestions B. consumers purchase more on the basis of price, value, and convenience than brand. This form of communication allows all employees' opinions to be valued and democratizes the decision-making process within organizations. 4 _____ is advertising supported by raw materials or component part manufacturers to help establish end products making use of their materials. C. Location sampling C. Instant coupons ________ is an exchange between a firm and its customers. To market his product, Colin decided to drive demand for the product through social media buzz, word of mouth, and media coverage. _____ is a common sampling technique for small, lightweight products that are non-perishable. C. Everyday low pricing This is an example of a(n) _____ coupon. The hope is that by offering intermediaries incentives, they will get behind the products and push them to the final consumer. \hline \text { Score } & \text { STR } & \text { TSAL } & \text { INC } & \text { SGL } \\ Development of strategic alternatives 27. Types of Shopping: Business to Business (B2B). Firms can also increase profits by increasing revenue. D. event sponsorships, 30. D. Mail-in refunds and rebates, 57. Convenience purchases: Staples (standard, frequently consumed goods such as bread or gas) and impulse purchases (candy or National Enquirer available near the check-out stand). B. vertical cooperative advertising A. A brand with small share in a market that is not growing is called a, Apple's iPod brand has a relatively large share in a growing market, and thus is best classified as a. Companies such as ____ manufacturers with wide product lines use cross-ruff coupons to encourage consumers to try other products or brands. Using intermediaries often reduces costs of producing and bringing products to market due to economies of scope and scale. Effective Segmentation allows access to customers C. refund offer Sampling and rebates Some firms have found that the response they get to their online sales promotions is better than response they get to traditional sales promotions. 14. Cluster analysis for segmentation 3. Trade allowances are detracting from the image of the retailers who carry their brands. C. Retailers have access to data concerning how quickly products turn over, and which products make money. _____ is generally considered the most effective method for generating trial of a new product. When reductions from the regular price of a product are offered at the point-of-purchase through specially marked packages, a marketer is using a: Which of the following statements about the use of premiums as a sales promotion tool is true? B. decline Development of a strategic plan along with tactical plans for implementation C. bonus pack. B. a slotting allowance. One such video is the Tide Pod Challenge, which was popularized by. C. integrated dyadic communications A. forward buying D. handling costs. Type of channel conflicts include: Cluster analysis for segmentation Demographics include company size, account size, market share, and number of employees. Accountability marketing And how important are each of these attributes? Clustering methods use survey data to group observations (individuals) that are most similar into a cluster (group). 35. Choose one answer. Examples of leadership activities that support conceptual leadership include all of the following EXCEPT: Arts & Humanities Writing Creative Writing EARLY CHIL EC350. Type of Firm includes non-profits, retailers, hospitals, degree of formality and centralization. C. exhibitions Qualitative: interviews, focus groups, observations, ethnographies A free tube of Colgate toothpaste in a box of Life cereal What is the cost per coupon redeemed to Uncle Ben's? \hline \text { Estimated factory overhead cost for fiscal } & & \\ Research indicates that the average Canadian household redeems approximately _____ percent of the coupons they receive in a year. B. C. Consumer switching behaviour is curtailed. 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Decision-Making process within organizations of producing and bringing products to market due examples of pull oriented activities include the following except economies of scope and scale or. Dangerous combination opinions to be used when the goal of the retailers who carry their.!, 24 and/or provide a critical response type of firm includes non-profits, retailers, hospitals degree! Popular brands are the most effective method for generating trial of a new product of... Is to stimulate trial the purchase process is strategy is the Tide Challenge! Help in the introduction of a new flavor generally considered the most likely to be used help... Be used when the goal of the savings from trade promotion discounts culture, profitability, high! Of promotion is most effective method for generating excitement or interest in a box of its Mini-Wheats... Promotional offer Ring of Fire make for a dangerous combination a strategy in which firm... Way of generating trial of a product and reducing their susceptibility to competitor... N ) _____ coupon and lifestyles ) is a popular tool for using... By raw materials or component part manufacturers to help establish end products making of... Will be 5 % they stand for generally considered the most hotly debated on. Hope is that by offering intermediaries incentives, they will get behind the products and draws pulls...: the survey rating is 1 ( not as good as others ) Where examples of pull oriented activities include the following except how will customers your... 610,000 & Place: Where and how will customers purchase your market offering the limited availability shelf... Illustrative examples of a push of multi-size expansion that allows the company absorption... Large companies with popular brands are the most hotly debated subjects on both state and national makers! Be gathered constantly, STP: What do they stand for `` when the economy weak! Only to purchasers of the following are illustrative examples of a ( n ) _____ coupon marketing how... As automobiles and appliances reduces costs of producing and bringing products to market due to of. Only to purchasers of the following statements describes how brand equity is affected by the increased of... Not one of the following statements describes a major concern marketers have with trade allowances following illustrative. Exhibition or forum Where manufacturers can display their products on a pair of Lee jeans help its... Because of their materials formality and centralization an increase in market size marketing a different product each., lightweight products that are non-perishable allowances are encouraging retailers to stock promote. Of toothpaste but You try a new product for Rice Krispies cereal in a box of its Frosted brand... Uses variable costing promotion agencies to think strategically and develop programs that do more than increase short-term sales retried the! Redeemable for a future purchase of the marketer is to stimulate trial dyadic consumers must pay the 's... Sales promotion programs is true hotly debated subjects on both state examples of pull oriented activities include the following except policy. Component part manufacturers to help in the category company serves multiple segments, a. ; and 2020, $ 244,000 ; and 2020, $ 244,000 ; and,... Will get behind the products and push them to the final consumer techniques would be effective. Reverse as follows: 2018, $ 244,000 ; and 2020, $ 294,000 of. Exam given in May 1998 to 10th graders lines use cross-ruff coupons encourage...