Marketing Strategies Quiz

<p>The analysis of competitors' strengths and weaknesses (A)</p> Signup and view all the answers

<p>Promotion should align with a company's broader marketing plan (C)</p> Signup and view all the answers

<p>Choosing the right retailers is crucial (C)</p> Signup and view all the answers

<p>Being consistent with company values or brand (B)</p> Signup and view all the answers

<p>Support the campaigns and reinforce the communicated messages (D)</p> Signup and view all the answers

<p>There may not be enough budget allocated to fully achieve objectives. (A)</p> Signup and view all the answers

<p>Bottom-up budgets (B)</p> Signup and view all the answers

<p>Competitors' spending levels (D)</p> Signup and view all the answers

<p>Percentage of sales (C)</p> Signup and view all the answers

<p>Costs are often unpredictable and variable. (D)</p> Signup and view all the answers

<p>Top-down budgets (C)</p> Signup and view all the answers

<p>1% - 5% (D)</p> Signup and view all the answers

<p>It may lead to inaccurate budgeting due to managerial bias. (A)</p> Signup and view all the answers

<p>It requires justification for every planned expenditure each year. (A)</p> Signup and view all the answers

<p>Share of market/share of voice (SOM/SOV) (B)</p> Signup and view all the answers

<p>To avoid creating an open-ended financial plan. (D)</p> Signup and view all the answers

<p>Skills analysis to identify needed and existing skills. (D)</p> Signup and view all the answers

<p>Arbitrary budgeting (A)</p> Signup and view all the answers

<p>It helps determine the necessary personnel availability. (A)</p> Signup and view all the answers

<p>Brand awareness percentage attributable to a product. (A)</p> Signup and view all the answers

<p>The right individuals must be available to meet the planned timeframe. (B)</p> Signup and view all the answers

<p>To prompt people to buy more products (C)</p> Signup and view all the answers

<p>Key characteristics of marketing communication tools (A)</p> Signup and view all the answers

<p>Potential holidays and sick leave (D)</p> Signup and view all the answers

<p>Collaborative media (A)</p> Signup and view all the answers

<p>Excessive training for existing staff (D)</p> Signup and view all the answers

<p>Personal preferences of the marketing team (A)</p> Signup and view all the answers

<p>All benefits and costs of an offering compared to competitors (B)</p> Signup and view all the answers

<p>Dividing the total cost by impressions and multiplying by 1,000 (B)</p> Signup and view all the answers

<p>Understanding customer needs and expectations (B)</p> Signup and view all the answers

<p>Reflecting the campaign message accurately in media selection (B)</p> Signup and view all the answers

<p>It enhances the message's reach through multiple channels (D)</p> Signup and view all the answers

<p>Market share (C)</p> Signup and view all the answers

<p>Websites (C)</p> Signup and view all the answers

<p>Responsibilities and authority levels of team members (C)</p> Signup and view all the answers

<p>Characteristics of the target audience (A)</p> Signup and view all the answers

<p>Difficulty in accommodating unforeseen absences (C)</p> Signup and view all the answers

<p>Opportunity to See (C)</p> Signup and view all the answers

<p>To measure the total number of OTS generated (C)</p> Signup and view all the answers

<p>Reach (D)</p> Signup and view all the answers

<p>Combining audio and visual elements (A)</p> Signup and view all the answers

<p>How often an individual is exposed to an ad message (C)</p> Signup and view all the answers

<p>Exposure to two or more ads with the same message (A)</p> Signup and view all the answers

<p>By dividing TVRs by reach (C)</p> Signup and view all the answers

<p>They can often secure better rates with larger budgets (D)</p> Signup and view all the answers

A strategy that focuses on understanding and meeting the individual needs of each customer.

Identifying the specific requirements and expectations of your target customer.

Understanding your position relative to your competitors - a visual representation.

A concise statement outlining your brand's unique value proposition in the market.

The group of people you aim to reach with your campaign messages.

Key messages that communicate your brand's value proposition to the target audience.

The 6 key elements of the marketing mix: Product, Price, Place, Promotion, People, and Process.

Ensuring your campaign strategies align with the broader marketing plan and other elements of the marketing mix.

The physical space where a product or service is delivered should align with the brand image, marketing messages, and campaign positioning.

A budgeting approach where senior management sets the budget and distributes it to departments.

A budgeting method where department managers propose their budget needs and submit them for approval.

A budgeting technique where a fixed percentage of expected sales is allocated to the campaign.

A budgeting strategy that relies on past spending patterns without significant analysis or adaptation.

A budgeting approach where a brand sets its budget based on how much its competitors spend.

The process of determining the resources needed to achieve campaign objectives.

In consumer markets, typical marketing budgets range from 1% to 5% of expected sales.

A method where every campaign expense is evaluated each financial year, starting from zero. This method ensures each expense is justified in a structured way.

A method that links campaign budget to the desired market share, considering current market conditions and competitors' activity.

A budget determined by the CEO or senior managers with little formal justification or analysis.

A method where campaign objectives are broken down into tasks, and the cost of completing each task is estimated.

The process of establishing a required skill set, comparing it to existing resources, and identifying any gaps.

An estimate of the time it takes to implement all tasks within a marketing campaign.

Matching available personnel to required tasks to ensure efficient campaign execution.

The process of calculating or estimating the cost of all aspects of a marketing campaign.

The total value a customer perceives they are getting from a product or service, considering all benefits and costs, compared to competitors.

The unique selling proposition is a statement that highlights the key benefit or value proposition that differentiates a product or service from the competition. It's a compelling reason for customers to choose your offering.

The customer's assessment of all the benefits and costs of your offering compared to those of your competitors. It's a key factor in determining customer value and influencing purchasing decisions.

A comprehensive plan outlining the communication channels and strategies employed to reach the target audience and deliver the campaign's message. It involves selecting the right media platforms, scheduling, and budget allocation.

An unexpected absence or holiday can disrupt campaign schedules. Planning for these contingencies ensures the campaign stays on track. Tight deadlines and unforeseen events can significantly impact the campaign's execution and results.

Clearly defining roles and responsibilities for each task within the campaign. This ensures accountability and smooth execution, reducing confusion and potential bottlenecks.

A critical aspect of successful campaigns is understanding and addressing the needs of the target audience. Asking questions like 'What do customers want? What problems do they face?' helps create a compelling customer value proposition.

A measure of the number of times a person in the target audience is exposed to a media vehicle during a specific period.

The percentage of people in the target audience who are exposed to the advertising campaign.

The total number of opportunities to see (OTS) generated by an advertising campaign over a specific time frame. It's calculated by multiplying reach by frequency.

The number of copies of a print publication circulated.

The ability of a message to grab attention and make an impact on the audience.

An estimate of the size of the audience for a media vehicle, based on market research.

A way to compare the cost-effectiveness of advertising across different media platforms.

A measure of the opportunity for an individual to see an advertisement, even if they don't actually notice it.

A framework that highlights the essential elements of effective marketing communications, focusing on the message's core creative idea and selecting the most appropriate channels to reach the target audience.

A marketing strategy that involves using multiple channels to reach the target audience, often combining digital and offline media.

The process of selecting and securing various media outlets to distribute marketing messages, often involving negotiation and budget allocation.

A model categorizing marketing activities based on their source: paid (advertising), owned (company-controlled content), and earned (generated by others).

A metric used to assess the effectiveness of various media in reaching the target audience, calculated by dividing the total cost of the campaign by the number of views or impressions it generates.

The characteristics of a media outlet that determine its suitability for a specific marketing message, such as audience size, demographics, and technical capabilities.

The process of utilizing a variety of media channels to reach the target audience, often involving a blend of advertising, public relations, direct marketing, and digital marketing.

The evaluation of the communication environment to understand how marketing messages can be effectively delivered to the target audience. This involves considering factors such as the competitive landscape, cultural context, and consumer behavior.