Chapter 6 Quiz PDF

Chapter 6 Quiz 1\. Which of the following would be considered a special feature for a suburban apartment building, and should be a point of emphasis in advertising? a\) \$2,000 monthly rent for 1-bedroom unit b\) Cable TV c\) Parking spots d\) Spectacular view 2\. A manager of an apartment bui...

Chapter 6 Quiz 1\. Which of the following would be considered a special feature for a suburban apartment building, and should be a point of emphasis in advertising? a\) \$2,000 monthly rent for 1-bedroom unit b\) Cable TV c\) Parking spots d\) Spectacular view 2\. A manager of an apartment building that is near a college campus decides to focus on appealing to potential tenants in their 20s. Knowing that consumers this age get much of their information online, she decides to focus her marketing strategy on online media, especially social media, rather than spending money on print media. The manager is engaged in: a\) branding b\) generational marketing c\) target marketing d\) Both B and C 3\. Which of the "cultural generations" is least likely to seek out information through the internet? a\) Baby boomers b\) Generation X c\) Traditionalists d\) Millennials 4\. A name, term, symbol, design, or idea that people associate with a product or company is its: a\) brand b\) demographic c\) goodwill d\) target market 5\. The size of an audience exposed to advertising is an ad's \_\_\_\_\_; the number of times the ad will appear is its \_\_\_\_\_. a\) frequency; reach b\) penetration; frequency c\) reach; frequency d\) scope; frequency 6\. Which advertising method is ineffective in low-traffic areas but is low-cost and likely to attract strong prospects? a\) Classified ads b\) Display ads c\) Internet ads d\) Signage 7\. Ed manages a medical office building. He narrows the potential range of tenants to several hundred doctors around the metropolitan area. With that narrow scope in mind, it might make sense to advertise through: a\) direct mail b\) display ads in daily newspapers c\) "For Rent" magazines d\) radio 8\. All of the following are advantages of marketing rental properties online, except: a\) prospects can access the information 24 hours a day b\) targeting specific market segments more easily c\) tracking results of marketing efforts d\) will only generate likely, qualified prospects 9\. When customers like a product so much that they start marketing it for you, through word of mouth or social media sharing, that is known as: a\) branding b\) generational marketing c\) target marketing d\) viral marketing 10\. What would be the best reason to use a bulletin board as part of an advertising strategy? a\) Broad reach b\) Inexpensive c\) Prestige d\) Targeting a very specific audience 11\. Which of the following advertising methods is likely to have the widest audience but also be the most expensive, without any guarantee of effectiveness? a\) Classified ads b\) Signage c\) Television d\) Twitter and Facebook 12\. All of the following are reasons a management company might have its own website, except: a\) advertising management services to property owners b\) advertising various properties to potential tenants c\) answers to tenants' frequently asked questions d\) providing market analysis data to investors 13\. All of the following are universally acceptable methods of finding new tenants, except: a\) advertising online b\) on-site signage c\) payment of referral fees to current tenants d\) trade shows 14\. Which of the following is likely to create the biggest impediment to a plan to find new management clients through cold calling? a\) Do Not Call registry b\) Equal Credit Opportunity Act c\) Fair Housing Act d\) Truth in Lending Act 15\. The measure of how many prospects it takes to get a signed lease, expressed as a percentage, is the: a\) conversion ratio b\) cost per prospect c\) marketing operational ratio d\) traffic report 16\. The business of promoting a property through announcements to the news media and through community events is known as: a\) branding b\) media marketing c\) public relations d\) viral marketing 17\. In addition to getting local media to focus on positive aspects of a property, public relations also refers to: a\) addressing and minimizing negative events b\) advertising to find new management clients c\) advertising to find new tenants d\) informing tenants about new rules 18\. Which of the following ads is least likely to be seen as a violation of the federal Fair Housing Act? a\) Ad referring to building as "near local church" b\) Ad showing a white and an Asian model c\) Ad suggesting that referrals can help "uphold community standards" d\) Flyers that weren't sent out to non-white residents of a neighborhood 19\. A blind ad: a\) does not give the name of the property manager b\) does not give the name of the real estate company's name as licensed c\) does not give the property's address d\) does not include the rent 20\. Emails and texts are restricted by the federal: a\) CAN-SPAM Act b\) Do Not Call registry c\) Fair Credit Reporting Act d\) Patriot Act Answer Key 1\. d) A spectacular view is unusual for an apartment building, and therefore would be a special feature that might differentiate the building from comparable properties. It would be a strong selling point that should be emphasized in marketing efforts. 2\. d) Generational marketing is a particularly focused form of target marketing, emphasizing a particular segment of a market based not only on age but also social and cultural preferences. 3\. c) The Traditionalists (persons born before 1945) are the generation that tend to be the least active online, and will be more effectively reached through traditional forms of marketing. 4\. a) A brand is a slogan, logo, or anything else that consumers come to link with a product or company. 5\. c) Reach is the size of an audience (in other words, how many people it reaches), while frequency refers to how often the ad will appear. 6\. d) Signage is inexpensive and easy, and will attract calls from people who've already seen the property and liked it. On the other hand, if there's little traffic in the area of the property, it's not likely to generate many responses. 7\. a) Direct mail can be expensive, and isn't worth doing unless you can specifically target likely prospects. If a building is likely to appeal only to certain professionals, though, that's a helpful place to start. 8\. d) The internet is widely available and unfiltered, so a manager is still likely to field calls from many mildly interested or unqualified apartment hunters. 9\. d) It's a boon to a marketer when a product "goes viral;" in other words, it gets touted online or in person by happy consumers. 10\. d) A bulletin board would be effective only when trying to reach a very narrowly defined audience, like an advertisement for corporate housing on an employer's bulletin board or a complex for retirees advertised on a senior center's bulletin board. 11\. c) The main advantage of television is that it reaches a very large audience, but the drawback is that it doesn't reach qualified, interested prospects very effectively. 12\. d) While a manager might post about the local market or neighborhood, this is usually not at the same level of depth as would be found in the market analysis portion of a management plan. 13\. c) Online advertising, signage, and trade shows are all potential methods of reaching new prospects. However, a majority of states prohibit paying referral fees to current tenants, and even those that do allow it usually limit the dollar amount. 14\. a) Property managers who engage in direct solicitation must comply with do not call and anti-spam laws. 15\. a) The conversion ratio expresses how many prospects it takes to get one signed lease. It is expressed as a percentage. For instance, if 100 prospects leads to 10 signed leases, that would be a 10% conversion ratio. 16\. c) Creating and maintaining a property's favorable reputation through outreach to the press is known as public relations. 17\. a) Public relations is as much about putting a positive but honest and helpful spin on negative events as it is about touting positive happenings. 18\. b) An ad that features only white models may give the inference that non-white residents are not welcome, even if there is no explicitly discriminatory content in the ad. 19\. b) A blind ad is an advertisement for real property that does not include the real estate company's name as licensed. This is illegal in most states. 20\. a) The Controlling the Assault of Non-Solicited Pornography and Marketing (CAN-SPAM) Act places certain restrictions on emails and texts.