MKTG 3213 Exam 2 Study Guide

The links between a brand and specific attributes, feelings, or experiences in the minds of consumers.

Brand maps illustrate brand associations from the consumer's viewpoint, not from management's.

The added value a brand brings, exceeding its basic functional value.

A company allows another to use its brand on other products for a fee.

Visual representation of brand associations that identify consumers' perception of the brand and its position in the market

The financial worth added by the brand's reputation, strength, and customer loyalty

A plan guiding how a brand will achieve its goals.

Brand Associations within a brand map have price, mood, emotion, and affiliation attached to them.

A sales technique that focuses on asking questions to understand customer problems and needs, ultimately positioning the product as a solution.

A series of steps involved in selling a product or service directly to a customer, including prospecting, approach, presentation, and handling objections.

The stage in the personal selling process where the salesperson explains the product's features and benefits and addresses customer questions and concerns.

Pricing strategy focused on the perceived value a customer gets from a product or service, not just cost.

The amount exchanged for a product, service, or idea.

A systematic process of setting prices to maximize profits and achieve strategic business objectives.

The degree to which customers' buying decisions are influenced by price.

A sales approach focusing on building long-term relationships with customers to foster repeat business.

Promotional tools are not equally effective in all situations. Their effectiveness depends on various factors, such as the target audience and the specific marketing goals.

A goal of promotion is NOT a price cut. The goal is to generate awareness, desire, and action among consumers.

The steps in the AIDA model (Attention, Interest, Desire, Action) must be followed in sequence. Each step builds upon the previous one.

The 'Desire' aspect of promotion is closely related to the consumer evaluation stage of the consumption process, where they consider their needs.

Public Relations advertising does not focus on price cuts or direct sales, but on building credibility and awareness, potentially driving desire and action.

Broadcasting (TV and radio) typically commands the largest share of advertising budgets.

Billboard advertisements are a form of out-of-home advertising and not broadcast.

The SUCCESs model focuses on emotion and concrete examples to resonate with audiences, not just credibility or promotional elements.

Online ad videos are not considered out-of-home advertising.

Difficulty tracking effectiveness is NOT a reason for digital marketing's increasing popularity.

Affiliate marketing is not a primary category of digital promotion, alongside display, social media, and video.

Banner advertisement is a form of display advertising.

Consumers ignoring emails is a key risk of email promotion.

The ability for users to interact with each other is a key element of social media.

Social media marketing uses social media platforms strategically, not passively or aggressively.

Social media encompasses a variety of demographics, not just Gen X and millennials.

A pay-per-click ad must include a relevant ad message aligning with the user's search, a clear call to action, and a unique selling proposition.

A dedicated page optimized for conversions, specifically designed for users who click on an ad.

A good landing page features a clear offer, compelling content, and a simple form for user interaction, while avoiding unnecessary details.

Online display advertising is visual, while pay-per-click is primarily text-based advertising.

Displaying ads based on the content a user is engaging with.

Utilizing mobile devices (phones, tablets) for advertising and marketing efforts.

Creating websites and content specifically designed to be easily viewable and usable on mobile devices.

Creating specific mobile sites and/or apps is a best practice approach for effective mobile marketing.

The external environment's consistency over a business year.

Exchanges happen between a firm and its immediate and external environments.

Customer needs are a primary concern for businesses.

A company might prioritize customers, shareholders, intermediaries, or employees based on their goals.

Southwest's success is attributed to good employee relationships, low ticket prices, and lack of intermediaries, or a combination of these.

Firms can adjust their focus on employees, customers, or other factors based on their strategy and circumstances.

Firms strive for favorable, sustainable exchanges with their surroundings, especially their immediate and external environments.

Marketers are concerned with customers, suppliers, governmental bodies, and competitors in the immediate environment.