CSUF MKTG 351 FINAL EXAM REVIEW |144 QUESTIONS AND ANSWERS|GUARANTEED SUCCESS
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Cours
Business 351
Établissement
Allied Business School
Promotional Mix
1) advertising
2) public relations
3) sales promotions
4) personal selling
5) social media
promotion
Communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response
promotional st...
CSUF MKTG 351 FINAL EXAM REVIEW 144 QUESTIONS AND ANSWERS
Promotional Mix - answer 1) advertising
2) public relations
3) sales promotions
4) personal selling
5) social media
promotion - answer Communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response
promotional strategy - answer a plan for the optimal use of the elements of promotion to elicit a particular response; main goal is to convince buyers that the products offer competitive advantage
advertising - answer mass communication, high control, relatively low cost per customer, low credibility
public relations - answer unpaid, effective, limited control, higher credibility
sales promotion - answer all non-advertising and public relations activities that focus on promoting sales; typically short-term although may have spillover long-term effect; intended to induce product trial and additional sales
personal selling - answer in-person selling, more costly; more effective; works well for high cost items; aimed to inform and influence customers social media - answer recent addition to promotional mix, shift of control of communication efforts to consumers
Integrated Marketing Communications (IMC) - answer aims to align all elements of the promotional mix for the best possible results
marketing communication - answer the process by which marketers impress on the buyers the value that their products have to offer
Promotional Goals - answer informing (early stages), persuading (late intro/ early maturity), reminding (later stages), connecting (ongoing)
AIDA concept - answer Attention: gain awareness of target market
Interest: create appealing message for target market
Desire: convince to create preference for
Action: communication should have call to action- go out and buy it
factors affecting promotional mix - answer -nature of the product
-stages in the product life cycle
-type of buying decision
-push and pull strategies
nature of the product - answer mass media (advertising) will work well for mass produced, consumer products where personal selling will work better for customized, business products
Stages of Product Life Cycle - answer early stage: advertising/public relation for awareness and sales promotion to induce trial growth stage: advertising and public relations for establishing differential advantage, reduce sales promotion maturity stage: persuasive reminder advertising and sales promotion to increase sales
decline stage: advertising reduced, personal selling efforts continue
Type of Buying Decision - answer simple/routine: require no deliberation, reminder advertising and sales promotion can be very effective
complex/ high involvement: personal selling can work well
Push and Pull Strategies - answer Push: incentivize wholesalers or retailers to carry the product (ex. trade discounts)
Pull: incentivizes end consumers directly
advertising - answer impersonal, one-way mass communication paid for by a marketer to increase sales in the long run
advertising response function - answer elongated S shaped figure- starts with too little to do much for sales, moves over to relatively high effectiveness where increase will lead to increase in sales, then to a saturation point where more advertisement won't do much
Major Types of Advertising - answer institutional and product
institutional advertising - answer Advertising that promotes organizational image as a whole; makes sense for parent brands and advocacy advertising
advocacy advertising - answer a form of advertising in which companies promote a positive image or try to overcome negative perceptions
product advertising - answer promotes individual products; three types:
pioneer, competitive, and comparative advertising
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