B. A. Coupons offer price reductions to consumers who are price sensitive. C. instant A third method of redefining our position is by place (channels) which includes determining appropriate channels, multi-channels, lower cost channel interactions, and deciding whether to outsource functions to channel partners. D. a spiff. B. price-off deal B. Compensation is another key issue. A week into implementing these marketing activities, Colins phone starts ringing, as retailers and distributors inquire about stocking the product at their stores. A. off-invoice allowance B. Coupons are an effective way of generating trial of a new product. Sampling D. contests; rebates, 72. Consumers have become more sensitive and responsive to sales promotion for each of the following reasons EXCEPT: \hline \vdots & \vdots & \vdots & \vdots & \vdots \\ Another method of redefining our position is with promotion by spending ad dollars more wisely and determining the most appropriate media, most appropriate frequency, and most appropriate message. A customer compares brands by the most important attributes or dimensions. B. Network methods to identify opinion leaders in buzz marketing. Segments are homogenous groups of customers. In order to provide an incentive to a current user to purchase Breton instead of other cracker brands when the consumer next goes shopping, which of the following sales promotion tools would work best for Dare? Segmentation: Customers aren't all the same; they vary in their preferences, needs, and resources. Tropicana developed a "Win the Perfect Vacation" sweepstakes to complement an advertising campaign theme promoting its grapefruit juice as the perfect beverage. 75. \quad \text { year beginning March 1 } & \$ 12,900,000 & \$ 10,200,000 \\ Positioning studies and perceptual maps are closely related to this marketing research technique. A. 6% Kellogg's places a 50-cent-off coupon for Rice Krispies cereal in a box of its Frosted Mini-Wheats brand of cereal. This form of communication allows all employees' opinions to be valued and democratizes the decision-making process within organizations. -Instruments (e.g., questionnaire, focus group moderator guide) 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) Which of the following is NOT a sampling distribution method? B. Contests Forward buying Which of the following is NOT a problem associated with the use of contests and sweepstakes? Cluster analysis for segmentation Firms can also increase profits by increasing revenue. Societal concerns include charitable or community contributions, local employment stability, environmentally friendly business practices and Corporate Socially Responsible (CSR) firms. D. instant, 59. B. Many attempts at one-to-one marketing have been cost ineffective. Which of the following is NOT a limitation of rebates? 87. B. franchise building promotion $7,500 B. growth stage D. an off-invoice allowance. What is the total cost of the coupon promotion to Uncle Ben's? C. There is a belief that sales promotion can be over used by too much frequency, resulting in a decrease in brand equity. Promotion: What can you tell your customers, or do for them, to entice them to purchase? This company serves multiple segments, marketing a different product to each segment. A. horizontal cooperative advertising B. 4. C. integrated dyadic communications Those important weights underpin how segments of customers differ. C. Indirect advertising The first question is "How does our hotel rate?" C. rebate New buy: You're buying teeth whitening strips for the first time and think what attributes must you consider. The selling price of the companys product is $50 per unit. Which of the following sales promotion techniques would be most effective for generating excitement or interest in a brand? 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. Sales promotion programs are targeted only at consumers. A(n) _______ is an important promotional tool because it can help an advertiser obtain more in-store merchandising of products. Integration refers back to the back or buy decision that firms face when determining whether to do a distribution function or have someone else undertake the activity. Education reform is one of the most hotly debated subjects on both state and national policy makers' list of socioeconomic topics. C. A free sport bottle with the purchase of a four-pack of Gatorade A pull marketing strategy, also called a pull promotional strategy, refers to a strategy in which a firm aims to increase the demand for its products and draw (pull) consumers to the product. Eastern Canadian Sea Foods devotes most of its marketing budget to trade discounts in the form of off-invoice and promotional allowances so its canned tuna and salmon brands can remain price competitive with private label brands. Examples include dance, recital, dramatic enactment. The consumers then seek out the products to purchase. takes a different approach. Companies need to measure what matters. This payment is known as: A. A. D. cross-sell, 61. No scanner data are prevalent for businesses. Low customer involvement: Customers don't care and won't spend time thinking about brands. A. \hline 230.67 & 19.20 & 44.79 & 47.64 & 5.10 \\ They distributed 1,000,000 promotional packages, at a cost of $20,000 for design and production. Retailers argue they are justified because they are assuming some risks in taking on a new product, and so many new products fail. D. There is no general number associated with coupon redemption. Psychological /Psychographic segmentation variables are closely related to blank______. To encourage off-shelf displays in major grocery stores A. push money C. sweepstakes; premiums A. D. rebate. B. A. To market his product, Colin decided to drive demand for the product through social media buzz, word of mouth, and media coverage. A. \hline 227.00 & 19.00 & 44.01 & 48.89 & 4.70 \\ 4. 1. Perishabilityservices cannot be stored and hence matching supply with demand is critical. a. organizing citizens to improve their neighborhoods. The consumer may experience negative reinforcement when comparing competitive prices. Consumers do not want to be bothered saving cash register receipts and proofs of purchase. A pull marketing strategy can be used by itself or in conjunction with a push marketing strategy. A. slotting fees 3. _____ is a common sampling technique for small, lightweight products that are non-perishable. Which of the following is NOT an advantage inherent in the use of coupons as a sales promotion tool? 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? D. ensure greater in-store exposure. Effective Segmentation allows access to customers One such video is the Tide Pod Challenge, which was popularized by. \end{array} C. premium Type of channel conflicts include: Question mark or problem child: products in high growth markets but having low market share (products in development, new technologies, uncertain markets) D. In-or on-package sampling, 43. B. sampling Seven Popular Marketing Research Techniques, 1. Differences between products and services are as follows: Intangibilityservices cannot be evaluated using sight, touch, smell and communicating the benefits is often difficult. Structured Query Language (known as SQL) is a programming language used to interact with a database. Excel Fundamentals - Formulas for Finance, Certified Banking & Credit Analyst (CBCA), Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM), Commercial Real Estate Finance Specialization, Environmental, Social & Governance Specialization, Financial Modeling and Valuation Analyst (FMVA), Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM), Able to establish direct contact with consumers and build consumer loyalty, Stronger bargaining power with retailers and distributors, Focuses on creating brand equity and product value, Consumers are actively seeking out the product, which removes much of the pressure of conducting outbound marketing, Can be used to test a products acceptance in the market and obtain consumer feedback on the product, Usually works effectively only when there is high brand loyalty, Lead time is long, as consumers are comparing alternatives before making a purchase, Requires creating a high demand for a product, which can be difficult in a highly competitive marketplace landscape, Requires strong marketing efforts to convince consumers to actively seek out the product (they may, instead, just decide to settle for whatever similar product a retailer has in stock, rather than insisting on getting your product). Initiator: an administrative assistant who notices a printer in the office frequently needs repairs. how should salespeople be compensated for their efforts, Two major issues make up the essence of the sales force: How many salespeople should we have, and blank_____, Intensive distribution usually goes with heavy blank_________, lower prices, and average or lower quality products. High customer involvement: For expensive purchases, brand, uniqueness and quality matter. The "Intel Inside" logo which appears on many computers is an example of: C. brand equity building B. to ensure results. A. A strategy in which a firm increases demand for its products and draws (pulls) consumers to the product. The contest or sweepstakes can create excitement and interest in a brand. D. sales promotion trap, 22. B. ad readership scores Sundance Solar Company operates two factories. 8. Geographic include country and sales force coverage. C. a trade allowance D. can be accomplished through consumer promotions that help build its brand equity, 23. Greater expenses resulting from fragmented efforts Examples of value-added activities include all of the following except: Product design. A. vertical cooperative advertising Which of the following statements describes a major concern marketers have with trade allowances? The Product Life Cycle consists of the following four distinct stages: Introduction: An organization attempts to establish itself as a pioneer/market leader (especially if there are few competitors), & product development costs are high. _____ has/have become very popular in recent years as marketers develop integrated marketing programs that create experiences for consumers in an effort to associate their brands with certain lifestyles and activities. The building or reinforcement of consumer-franchise or equity for a brand: Networks to study collaborators D. $0.75, 54. B. TV display Surveys for customer satisfaction A. Targeting: Attracting some of those customers makes better sense than going after others. A trade layout The consumers then seek out the products to purchase. Scanner data for pricing A(n) _____ is an offer of an item of merchandise or service either free or at a reduced price that is used to provide an extra to purchase. C. 40 Customers, Company, Context, Collaborators, Competitors. With a _____, consumers compete for prizes and/or money on the basis of skills or ability, while with a _____, winners are determined purely by chance. 94. Accountability marketing A. it cannot be broken down into small sizes D. to differentiate a brand through image enhancement. A. coupon Descriptive: Surveys and scanner data are used to obtain large-scale stats. Assume that the company uses absorption costing: Assume that the company uses variable costing. Marketing strategy is the link between corporate goals and operational tactics. a person may not be retried for the same crime. This is an example of a: Participants rate on the following items: water sports, meals included, available excursions, nice rooms and good quality for money. Price is the final method to redefine our position, by determining which identity serves the company best: high price or low with correlated quality implications. C. to encourage the trade to display and support established brands. EstimatedfactoryoverheadcostforfiscalyearbeginningMarch1EstimateddirectlaborhoursforyearEstimatedmachinehoursforyearActualfactoryoverheadcostsforMarchActualdirectlaborhoursforMarchActualmachinehoursforMarchFactory1$12,900,000600,000$12,990,000610,000Factory2$10,200,000250,000$10,090,000245,000, 012345-$500$202-$X$196$350$451\begin{matrix} MolsonCoors's heavy financial involvement with and support of freestyle skiing competitions, beach volleyball tournaments, and other sporting events is an example of: B. B. nonfranchise-building promotion Examples of leadership activities that support conceptual leadership include all of the following EXCEPT: Arts & Humanities Writing Creative Writing EARLY CHIL EC350. distribution channel is a network of inter-connected firms that provide sellers a means of infusing the marketplace with their goods, and buyers a means of purchasing those goods as efficiently and profitably as possible. Growth: Sales/Revenues & profit margins rise as consumers buy the product and competition increases, & due to shakeout poor performing firms may exit the market. Causal: Experiments are used to study the effects of manipulated marketing mix variables on measures of sales and customer attitudes. C. Premiums _______ segmentation utilizes appropriate data, allows access to customers, fits with corporate goals and is actionable. 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: Example: the survey rating is 1 (not as good as others) to 7 (better than others). A. event marketing D. decline stage, 114. Product: Will customers want what your company is prepared to produce? All of the following are reasonable objectives for trade-oriented sales promotions EXCEPT: It's about carving out a spot in the competitive landscape, putting your stake in the ground, and winning mindshare in the marketplace - being known for a certain "something.". Rebates and high value checkout coupons When a company focuses on a single segment and has multiple product offerings for the segment, these firms are following blank_________ strategy. Which of the following would be the best example of a premium offer that contributes to consumer-franchise building efforts for a brand? D. A sales promotion works best when its theme is not an integrated part of the organization's marketing communications. A. cross-ruff Each role seeks different attributes (price, great features, delivery date, customer service). Direct mail coupons C. Premiums and sweepstakes Bonus packs Coupons, bonus packs, premiums, and samples are promotional offers that are targeted toward: 7. A. cooperative advertising The primary distinction between segmenting businesses and consumers is that the data sources tend to be different. Loyalty programs There are several advantages to a pull marketing strategy: Potential disadvantages to using a pull strategy include the following: CFI is the official provider of the Financial Modeling and Valuation Analyst (FMVA) certification program, designed to transform anyone into a world-class financial analyst. D. Mail-in premiums offer immediate reinforcement to the purchaser. D. In-pack coupons for any variety of Breton crackers, 34. The customer makes two kinds of ratings: How does our company rate on a number of attributes? Which of the following is a reasonable objective for consumer-oriented sales promotions? B. Maturity: Revenue peaks but profit margins erode due to high competition. Consumer buying is people buying something for themselves or their household. C. to set direction. This difference will reverse as follows: 2018,$42,000; 2019, $244,000; and 2020,$294,000. The advent of optical scanners and computers gave manufacturers access to sales information. Perceptual mapping for positioning D. A price reduction of $5 on a pair of Lee jeans. Observational data to check on competitors C. Bonus packs, trade allowances, and slotting fees A. Some activities can be both push and pull strategies. 97. Shopping purchases: Going online to Citysearch.com to find a restaurant and make reservations when heading out of town. A. the payoff is smaller. D. handling costs. -Modality of administration (e.g., Web survey, mail, personal interview) C. trade promotions; media advertising 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. Which of the following developments have resulted in a transfer of power from manufacturers to retailers? 5. A. a slotting fee. B. ingredient-sponsored cooperative advertising A. consumers tend to be loyal to their favourite brands. The preliminary engagement activities include all of the following except: A) Determine the audit engagement team requirements. 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 Material movement. Which of the following promotions is targeted toward the trade rather than consumers? A. _____ 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. Selling Company produces its product in batches of 100, yet its average customer only purchases ten at a time. The contest or sweepstakes offer may overshadow the brand. The following are illustrative examples of a push . is when by size or expertise, one party can make claims and threats that encourage the other party to conform. C. Image advertising C. Sampling through the mail 85. Consumers must pay the manufacturer's out-of-pocket costs for a _____ premium. B. beer Gatekeeper: accountant who controls the budget. a. Asymmetric idea b. The two approaches are the attribute-based approach and multidimensional scaling (MDS). Additionally, this open dialogue allows . Dramatic performances are one kind of collaborative activities that can be used as a performance-based assessment. All the following are advantages associated with the use of trade allowances EXCEPT: This is an example of: C. Horizontal cooperative advertising Effective Segmentation is actionable. 51. C. frequent patronage programs Uncle Ben's Rice attached a $1-off coupon to the outside of their packaging. Brand equity includes awareness, positive brand associations, brand preference, trial, repeat, brand loyalty and brand love. B. provide the marketer with an immediate gauge as to how well the product will do in the marketplace B. is a type of segmentation in which the company strategically focuses and targets a smaller market with particular needs that the company can serve well. A. Types of Shopping: Business to Business (B2B). Jeff ran a promotion offering a box of fifteen Pinnacle golf balls for the same regular price as twelve balls. This is an example of a(n) _____ coupon. A. baby stroller D. Event marketing. Which is NOT one of the four classes of goals? 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? B. can be done with carefully planned sales promotion programs A. horizontal cooperative A. New usage suggestions Marketing research gathers those facts through design, collection, interpretation, and reporting of facts. B. a trade allowance. What do customers really want if they can't have all the features and a low price? Manufacturers can use any of the marketing mix variables to push to partners or encourage pull from consumers. Assembly activities. Breadth Strategy: Reaching Multiple Markets. Which of the following statements describes how brand equity is affected by the increased role of sales promotion? Choose one answer. Sampling Premiums Four explanatory variables are used: (1) STR is the student-to-teacher ratio in %\%%, (2) TSAL is the average teacher's salary in $1,000s,(3)NC\$ 1,000 \mathrm{~s},(3) \mathbb{N C}$1,000s,(3)NC is the median household income in $1,000\$ 1,000$1,000 s, and (4) SGL is the percentage of single-parent households. 2. C. The increased emphasis on long term strategy and performance by most companies A. sweepstakes; contest B. is accomplished through short-term price-oriented promotions Payments offered by manufacturers to retailers for performing certain promotional or merchandising activities in support of their brands are called: 79. B. Vertical conflict is among partners at different levels in the channel. B. B. diverting A. consumer franchise-building promotion A 50-cents off coupon on a box of Minute Rice to encourage repurchase. 36. Kraft is concerned that families consume Miracle Whip only on sandwiches, using a tablespoon or two at a time. Why are organizations like McDonald's, Wendy's, and Labatt placing more emphasis on sales promotions than ever before? In the ________ stage of the product life cycle, a large amount of the promotion budget may be allocated to sales promotion techniques such as sampling and couponing to induce trial. Which of the following statements about sales promotion programs is true? Optimize cost-efficiency. Buyer: administrator who orders equipment and supplies. D. pull money. Examples of pull oriented activities include consumer-directed advertising, wide distribution, coupons, rebates, loyalty points, price discounts, quantity discounts, and free samples. By applying such a system you will be able to: Eliminate waste activities. This is an example of: B. Once the appropriate number of clusters has been determined, the marketer names each segment by some identifying common characteristic(s). B. bounce-back D. Sales promotion techniques such as contests and premium offers are often used to draw attention to an ad, increase involvement with the ad, and help build relationships with consumers. Positioning: Communicate your benefits clearly to your intended customers. D. aggregated, 107. A. Wall display D. Slotting allowances are illegal and banned by the federal government. Governance costs are those costs associated with coordinating and controlling the members in the channel. -Try to answer questions with secondary data. C. Image advertising C. maturity stage B. premium. B. D. Many retailers require promotional deals such as discounts and allowances just to handle a new product. D. promotional allowances, 86. b Assembly activities. In a pull marketing strategy, a firm markets its product directly to consumers. A. B. ScoreSTRTSALINCSGL227.0019.0044.0148.894.70230.6717.9040.1743.914.60230.6719.2044.7947.645.10\begin{array}{|c|c|c|c|c|} Place: Where and how will customers purchase your market offering? D. 55%, 102. A limitation of this sampling method is that the sample is distributed only to purchasers of the carrier brand. High value checkout coupons 27. C. are very effective even without brand name awareness Type of Firm includes non-profits, retailers, hospitals, degree of formality and centralization. B. D. is really not very important given the prolonged economic prosperity that Canadians have enjoyed. C. build an Eastern Canadian brand identity and image Cluster analysis for segmentation D. High value coupons and sampling, 32. D. in-pack coupon, 103. A. In-store sampling Exploratory: Focus groups and interviews are used to formulate marketing questions. 20. Door-to-door sampling B. to maintain trade support for established brands. Horizontal conflict is among partners at the same level. D. Rebates are increasing in popularity among both manufacturers and retailers. Some measures on a dashboard would include sales, profit margins, market share, employee satisfaction, and customer satisfaction. The next ratings cycle through each hotel asking how it rates on each of a number of attributes. D. Bauer Hockey Skates. Variabilityservice quality differs based on who performs the service unless standardization in service quality is offered through training. C. maturity C. Consumer switching behaviour is curtailed. The franchisee (local owner) benefits include well-known brand, market awareness, supplier relationships, training, and support. Scanner data for pricing and coupon experiments and brand switching d. All of the above b Interviews to study company's employees C. Account-specific marketing When calculating the costs of a couponing program, marketers should consider all of the following EXCEPT: B. a rebate C. most coupons are redeemed on Thursdays C. trade allowance D. same purchase, 60. D. growth. Situation analysis (e.g., Internal factors such as Strengths & Weaknesses; External factors such as Opportunities &Threats analysis) For expensive purchases, blank_________, uniqueness and quality matter. A discount or deal that is offered to a retailer or wholesaler to encourage them to stock, promote, or display a manufacturer's product is known as: Trade allowances often are not passed on to consumers in the form of lower prices. Using intermediaries often reduces costs of producing and bringing products to market due to economies of scope and scale. The best example of word-of-mouth in pull marketing would be the viral videos that have been going around on social media. D. new product fees. 2. b. changing the physical environment. To be more specific, Colin ran several Facebook and Instagram advertisements, worked with YouTube influencers to create video promotions and got his product featured on a technology news website. Diverting B. self-liquidating B. horizontal cooperative advertising In addition, there tends to be useful corporate knowledge about business customers, in part because such transactions typically rely on a sales force so a knowledgeable front line is interacting with the customer. C. subsidized 49. The differences between goods and services are all of the following EXCEPT _________. Companies such as ____ manufacturers with wide product lines use cross-ruff coupons to encourage consumers to try other products or brands. A. introduction stage Marketers have to be certain that the attribute helps to determine customer needs and preferences and is not a simplistic stereotype. B. direct mail The upstream partners that a company has to deal with are its suppliers, also known as the blank______. This company elects to market a single product to two or more segments. B. Attitudes include care about price sensitivity, risk tolerance, corporate culture, profitability, and high vs. low maintenance accounts. C. induces one-time trial purchase of a brand for which there is low awareness Instead of trying to appeal to the entire marketplace, smart marketers and smart companies try to find out which customers will like their product and get the product into their hands. This company focuses on a single segment and has multiple offerings for the segment. Integration simply means having the activity "done in house" rather than outsourced. Firms typically review the issues on a regular basis. A. Lynch Company manufactures and sells a single product. Key issues involved in channel design include the number of intermediaries involved, the intensity of distribution, and whether to use a push or pull strategy or both. The buying process is consistent whether the buyer is a consumer or a business. Which of the following is NOT an example of a point-of-purchase display? D. Discount trading, 99. Establish an effective distribution network. Some firms have found that the response they get to their online sales promotions is better than response they get to traditional sales promotions. Tailoring Strategy: Customizing For Segments. Sales promotion is an ineffective tool for building brand equity. Which of the following is NOT a tactical decision the marketer faces when planning a sales promotion? C. is becoming less important to marketers as competition intensifies The toy company Hasbro teamed with the retailer Toys R Us to create direct mail booklets offering discounts on Hasbro toys good only at Toys R Us stores. B. made in the store. This can be a very costly sampling method, particularly for multiproduct companies. This can be viewed as a supply-based strategy that is focused on sales, distribution and promotion that directly leads to a sale. In order to increase consumption and therefore, sales, which of the following sales promotion tools would work best for Kraft? C. rebates Dare makes Breton snack crackers, which compete with many other brands in the category. A. sweepstakes and contests Ralston Purina offers its retail accounts a $3.00 per case discount for all of the dog food it purchases during the month of October. Corporate vertical marketing systems, in which all channel members are owned by/contracted to one company, provides control of conflict. Marketing research relies on several types of samples; blank__________ is not related. Trade sales promotions have a better track record than pull strategies. A. build brand loyalty

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