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APR 241 TEST 3 STUDY GUIDE (2024) QUESTIONS WITH CORRECT ANSWERS!!
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APR 241 TEST 3 STUDY GUIDE (2024) QUESTIONS WITH CORRECT ANSWERS!!
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APR 241 Test 31. marketing com- the various efforts and tools companies use to communi-
munications cate with customers and prospects, including newspaper
ads, event sponsorship, publicity, telemarketing, digital
ads, and coupons, to mention just a few
2. advertising a paid, mediated form of communication from an identi-
fiable source, designed to persuade the receiver to take
some action, now or in the future
3. consumers people who buy products and services for their own, or
someone else's, personal use.
4. public service an advertisement serving the public interest, often for a
announcements nonprofit organization, carried by the media at no charge
5. media referring to communications vehicles paid to present an
advertisement to their target audience
6. word-of-mouth the passing of information, especially product recommen-
advertising dations, in an informal, unpaid, person-to-person manner,
rather than by advertising or other forms of traditional
marketing
7. medium channel of communication
8. mass media print or broadcast media that reach very large audiences,
includes radio, television, newspapers, magazines, and
billboards
9. goods tangible products such as suits, soap, and soft drinks
10. services a bundle of benefits that may or may not be physical,
that are temporary in nature, and that come from the
completion of a task
11. product the particular good or service a company sells
12. marketing an organizational function and a set of processes for cre-
ating, communicating, and delivering value to customers
, APR 241 Test 3
and for managing customer relationships in ways that
benefit the organization and its stakeholders
13. marketing mix four elements, called the 4Ps (product, price, place, and
promotion), that every company has the option of adding,
subtracting, or modifying in order to create a desired
marketing strategy
14. advertising strat- the advertising objective declares what the advertiser
egy wants to achieve with respect to consumer awareness, at-
titude, and preference; the advertising strategy describes
how to get there. Advertising strategy consists of two
sub-strategies: the creative strategy and the media strat-
egy
15. externalities benefit or harm caused by the sale or consumption of
products to people who are not involved in the transaction
and didn't pay for the product
16. branding a marketing function that identifies products and their
source and differentiates them from all other products
17. industrial age the period of time from the mid-1700s through the end
of WWII when manufacturers were principally concerned
with production
18. consumer pack- everyday-use consumer products packaged by manufac-
aged goods turers and sold through retail outlets. Generally these are
goods such as food and beverages, health and beauty
care, cleaning products, and detergents that get used up
and have to be replaced frequently
19. product differen- manufacturers portraying their brands as different from
tiation and better than similar competitive products through ad-
vertising, packaging, or physical product differences
20. unique selling the distinctive benefits that make a product different than
proposition any other, the reason marketers believe consumers will
buy a product even though it may seem no different from
many others just like it
, APR 241 Test 3
21. market segmen- strategy of identifying groups of people or organizations
tation with certain shared needs and characteristics within the
broad markets for consumer or business products and
aggregating these groups into larger ____________ ac-
cording to their mutual interest in the product's utility
22. positioning the association of a brand's features and benefits with a
particular set of customer needs, clearly differentiating it
from the competition in the mind of the customer
23. postindustrial period of cataclysmic change, starting in about 1980,
age when people first became truly aware of the sensitivity of
the environment in which we live
24. demarketing term coined during the energy shortage of the 1970s and
1980s when advertising was used to slow the demand for
products
25. sales promotion a direct inducement offering extra incentives all along the
marketing route—from manufacturers through distribu-
tion channels to customers—to accelerate the movement
of the product from the producer to the consumer
26. cable cutting the practice of choosing to discontinue cable service and
instead watch programming on demand over internet ser-
vices such as Netflix and others
27. preindustrial age period of time between the beginning of written history
and roughly the start of the nineteenth century, during
which the invention of paper and the printing press and
increased literacy gave rise to the first forms of written
advertising
28. advertising at- 1. identify products, 2. communicate information, 3. in-
tempts to do duce customers to try or reuse, 4. stimulate distribution,
these things 5. increase use, 6. build value, preference, and loyalty, 7.
lower the overall cost of sales
29. 1440s printing press
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