2. ________ is an exchange between a firm and its customers. Consumer-franchise or image building for a brand: 3. For expensive purchases, blank_________, uniqueness and quality matter. Marketers have to be certain that the attribute helps to determine customer needs and preferences and is not a simplistic stereotype. D. a coop allowance. 90. The terms push and pull refer to whether the manufacturer targets consumers or channel partners with its marketing communications. B. vertical cooperative Wall display B. 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. Effective Segmentation fits with corporate goals A. contests; sweepstakes B. horizontal cooperative advertising To integrate advertising and sales promotion programs successfully, different themes should be used for each. D. cost-plus. A. the payoff is smaller. Examples of demographics include gender, age, household composition, lifestyle cycle, education, income, and ethnicity. D. new product fees. C. maturity stage C. rebate This is an example of a(n) _____ coupon. A pull strategy focuses on advertising to stimulate market interest and attract customers. The primary distinction between segmenting businesses and consumers is that the data sources tend to be different. \text { Actual machine hours for March } & 610,000 & C. assist consumers to experience the brand directly Tropicana suspended shipments of its products to a retail store that was taking advantage of promotional deals and then selling the product to other stores in another part of the country. It is a system based on the idea that self-expression, ideals, and achievement determine customers' product and brand orientation. 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: Rebates can encourage brand switching or repeat purchase behaviour. is when one party can make another party do something by taking away benefits or inflicting punishment on the other party. is a form of multi-size expansion that allows the company to retain some control without complete ownership of capital expenditure. Nordica provides sales personnel in ski shops with training classes, detailed manuals, and other tools to help them better understand how to sell the company's ski boots. A. event marketing A. premiums 35. A market segment is a group of customers who share similar inclinations towards a brand. C. Instant coupons A. introduction B. a trade allowance. C. frequent patronage programs Focus groups for concept testing D. Contests/sweepstakes. Because they are easier to enter, _____ attract more entries than _____ and have become a more widely used sales promotion technique. Forward buying \hline 230.67 & 19.20 & 44.79 & 47.64 & 5.10 \\ C. 24% \end{array} B. The heavy emphasis on trade promotion makes it difficult to: D. decline stage, 114. Moderate customer involvement: Some effort is expended prior to purchase to obtain good value. The retailer was engaged in: _____ 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. D. $0.75, 54. 5. Lower cost Attitudes include care about price sensitivity, risk tolerance, corporate culture, profitability, and high vs. low maintenance accounts. Dramatic performances are one kind of collaborative activities that can be used as a performance-based assessment. c. organizing neighborhood watch programs d. changing the delivery of police services c One hazard of citizen patrols is the possibility of a. volunteerism. 95. The sales promotion tool that critics contend is most guilty of detracting from brand equity and at the same time being detrimental to a brand franchise is: A. C. refund offer They predict that the redemption rate will be 5%. Which of the following is a reasonable objective for consumer-oriented sales promotions? C. Indirect advertising 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? 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) B. slotting fee A. A. cross-ruff c. vigilantism. ______ generate(s) much higher trial rates than advertising and other sales promotion techniques. 3. C. trade promotions; media advertising B. Manufacturers are spending more money on media advertising. Consumer buying is people buying something for themselves or their household. C. Consumers pocket most of the savings from trade promotion discounts. C. Professional entrants often defeat the purpose of contest and sweepstakes and undermine their effectiveness. B. Coupons Primary data requires that marketers design a study, collect and analyze data; answers can be quite precise. In order to increase consumption and therefore, sales, which of the following sales promotion tools would work best for Kraft? 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. D. Discount trading, 100. Scanner data for pricing and coupon experiments and brand switching A. Which of the following is NOT an example of a point-of-purchase display? B. can be done with carefully planned sales promotion programs 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: Its objective is to occupy a clear, unique, and advantageous position in the consumer's mind. -Try to answer questions with secondary data. C. brand equity A. Enacted tax rates are 34% for 2018 and 2019, and 40% for 2020. B. 76. C. Retailers have access to data concerning how quickly products turn over, and which products make money. D. marketers are offering consumers more promotions to attract and maintain customers. 8. _____ is generally considered the most effective method for generating trial of a new product. A survey estimates that approximately ________ of consumer purchase decisions are unplanned, i.e. A. free premium This process is known as blank_______. Surveys to assess customer satisfaction with Internet as a distribution option B. C. Account-specific marketing D. The distribution of on-package samples can be broadened by attaching them to multiple brands or to products made by other companies. A. sweepstakes and contests 73. Premiums are not subject to restrictions from industry and government agencies. This can be a very costly sampling method, particularly for multiproduct companies. E. Planning eliminates the need for effective leadership. The implementation of a pull system is an effective way for optimizing resources in a production process. A. introduction stage Which of the following sales promotion tools work best for Kellogg's? To market his product, Colin decided to drive demand for the product through social media buzz, word of mouth, and media coverage. D. trade promotions, 28. Loyalty programs D. bounce back coupon, 81. C. definition of business rules and organizational policies incorporated into the. 6% 11. B. off-price deal Network methods to identify opinion leaders in buzz marketing. What do they stand for? His boss indicates that with complicated business purchases, it's not one person making the decision and that each purchase involves different roles. Retailers are not justified in charging slotting allowances since most new products are successful. 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. Type of Firm includes non-profits, retailers, hospitals, degree of formality and centralization. B. ingredient-sponsored cooperative advertising Niche markets are not different from segments; they are usually just smaller. A. Which of the following is NOT a downside to running a promotion in a specific geographic region? Corporate vertical marketing systems, in which all channel members are owned by/contracted to one company, provides control of conflict. B. decline Gillette's market research shows that most consumers decide upon a brand of deodorant at the point-of-purchase rather than before entering the store. Marketers refer to a "dashboard" as an analogy for the many indicators of a performance that should be monitored, much like an instrument panel in an automobile. Meet actual demand. D. magazines, 55. D. A price reduction of $5 on a pair of Lee jeans. Assembly activities. 1. B. B. Which of the following statements about sales promotion programs is true? Behaviors are important because they help marketers predict future purchasing. C. slotting is often the most visible element of the channel and can impact image, positioning, and brand equity. To encourage off-shelf displays in major grocery stores 26. Sampling -Communicate results (white paper, presentation, recommendations). C. Premiums 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. Selling Company produces its product in batches of 100, yet its average customer only purchases ten at a time. A free tube of Colgate toothpaste in a box of Life cereal Exploratory, Descriptive, Causal A. coupon 21. Sampling are networks of interconnected firms whose activities enable products to be sold and consumers to have easier access to those products. B. D. encourage retailers to use Eastern Canadian's planograms, 24. A. increase the market share of an established brand A. A. Uncle Ben's Rice attached a $1-off coupon to the outside of their packaging. D. most consumers do not use coupons. B. premium 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? Positioning: Communicate your benefits clearly to your intended customers. 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. dyadic C. more effort is required. D. National accounts' reluctance to run different promotions in different regions, 37. $55,000 The redemption rate for refunds is lower than that for coupons because: A. What are the 4 P's? B. Prepare an income statement for the year. The upstream partners that a company has to deal with are its suppliers; this is called the supply chain and dealing with those firms is called supply chain management. A portion of the data is shown in the accompanying table. \hline D. Bauer Hockey Skates. Tweaks in the 4Ps may change our core business. B. sweepstakes; contests A. In-store sampling Buyer: administrator who orders equipment and supplies. No scanner data are prevalent for businesses. ScoreSTRTSALINCSGL227.0019.0044.0148.894.70230.6717.9040.1743.914.60230.6719.2044.7947.645.10\begin{array}{|c|c|c|c|c|} 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). 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. A push strategy is a marketing approach that aims to get a product or service in front of customers. A. A. encourage consumers to buy on the basis of price D. handling costs. Which of the following is NOT true regarding slotting fees or allowances? Trade sales promotions have a better track record than pull strategies. 4Ps: The consumers then seek out the products to purchase. _____ is advertising supported by raw materials or component part manufacturers to help establish end products making use of their materials. B. Vertical cooperative advertising a Material movement. B. affirmative action, resident alien, counsel, double jeopardy, illegal alien, exclusionary rule, Jim Crow laws, security classification system, naturalization, non-resident alien. A. off-invoice allowance D. event sponsorship, 47. This can be viewed as a supply-based strategy that is focused on sales, distribution and promotion that directly leads to a sale. A. push money. In positioning, the marketing department creates an image for the product based on its intended audience. The advent of optical scanners and computers gave manufacturers access to sales information. Participants rate on the following items: water sports, meals included, available excursions, nice rooms and good quality for money. D. Rebates and refunds, 18. Segments are homogenous groups of customers. B. consumers purchase more on the basis of price, value, and convenience than brand. One problem resulting from the overuse of sales promotion is a decrease in: Sampling for a product such as expensive skin cream that is designed to reduce wrinkles over a long period of time might not be feasible because: A. many coupons are redeemed just before the expiration date rather than in the period following the initial drop When calculating the costs of a couponing program, marketers should consider all of the following EXCEPT: C) Ensure that there is an independent audit committee. The contest or sweepstakes can create excitement and interest in a brand. Door-to-door sampling One-to-one marketing is more expensive to implement but customer needs are better met. 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