Exam 3 Marketing

Card Set Information

Exam 3 Marketing
2011-11-16 16:13:12
Management Promotion

Questions in Class
Show Answers:

  1. Personal Selling
    Is used in conjuction with the other IMC tools.
  2. Trade Balance
    Import more than export
  3. What fits in an economic Environment (pick out the right one)
    • -Stage of economic development
    • -Economic Infrastructure
    • -Standard of living
    • -Per capita income
    • -Distribution of wealth
    • -Currency Stability
    • -Exchange rates
  4. What makes up Demographic Environment? (Pick right one)
    • -Size of population
    • -Number of households
    • -Household size
    • -Age distribution
    • -occupation distribution
    • -education levels
    • -employment rate
    • -Income levels
  5. New roles for salespeople (definitions)
    • -Surveying
    • -mapmaking
    • -guiding
    • -fire starting
  6. Customer relationship marketing
    Focused on building a customer partnership
  7. Internation cultural environment
    • -Language
    • -Lifestyles
    • -Values
    • -Norms and customs
    • -Ethics and moral standards
    • -taboos
  8. Factors in keeping a customer (top 3)
    • -perceived (price to value proposition)
    • -Customer service
    • -Product quality
  9. International political/legal environment
    • -government policies
    • -laws and regulations
    • -political stability
    • -nationalism
    • -attitudes toward multinational companies
  10. Def of Global marketing
  11. Def of Global advertisement
  12. When is globalization appropriate
    • -Brands that can be adapted for visual appeal
    • -Brands promoted iwth image campaigns playing to universal needs values and emotions
    • -High tech products new to the world
    • -products with a nationalistic flavor
    • -products appealig to universally similar tastes interests needs and values
  13. Local messages:
    Most dominant strategy. Think globally and act locally
  14. International sales promotion
    Sales promotion growing, must adapt to local market to be successful
  15. Local, State, and Federal Regulation
    • Local and Industry Groups
    • -Better Business Bureau (BBB)
    • -National Advertising Review Council (NARC)
    • -Distilled Spirits Council (DISCUS)
    • -American MEdical Association (AMA)

    • State and Federal Agencies
    • -Federal Trade commision (FTC)
    • -Federal Communications Commission (FCC)
    • -Food and Drug Administration (FDA)
    • -U.S. Postal Service (USPS)
  16. Better Business Bureau
    Largest and Best
  17. Review Board
    • Appeal Unit
    • Council-->NAD-->Board
  18. Federal Regulation Advertising
    • -Federal Communications Commusion (FCC)
    • -Food and Drug administration (FDA)
    • -U.S Postal service
    • -Bureau of Alcohol, Tobacco, and Firearms
    • -Federal Trade Commission (FTC)
  19. Federal Trade Commision Created
    • 1914
    • Wheeler lea Amendment (1938)
    • Three Major Divisions
    • -Consumer Protections
    • -Economics
    • -Competition
  20. Puffery
    • The very best...
    • Made form the best stuff on Earth....
    • The ultimate driving machine....
    • The wonder drug that works wonders....
  21. FTC handling deceptive ads
    • FTC programs to prevent deciptive advertising
    • -Affirmative Disclosure
    • -Advertising Substantiation

    • FTC programs to deal with deceptive advertising after it occurs
    • -Cease and Desist Orders
    • -Consent Orders
    • -Corrective Advertising
  22. Laham Act
    Company ability to sue another company for deceptive ads.
  23. Regulation of Sales Promotion
    • Contest/ Sweepstakes
    • -Cannot be a lottery
    • -Rules and details must be fully disclosed

    • Premiums
    • -Cannot misrepresent their value
    • -Care must be taken with special audiences
  24. Robinson-Patman ACT
    Prohibits price discrimination
  25. Trade Allowances
    Must not violate any stipulations of the Robinson-Patman Act

    Co-op funds must be equal and non discriminatory
  26. Ethics
    Moral principles and values that govern the actions and decisions of an individual or group

    *Lapse in ethical standards can be more damaging than advertising and promotion
  27. Deceptive Advertising
    Flase or misleading claims
  28. Shock Advertising
    • Adverising as offensive or in bad taste
    • (sexual)
  29. Consumer socialization
  30. Consumer education
  31. Materialism
    Pro or Cons?
  32. Targeting Specific Marketing
    Companies struggle because they lack diversity among employee and ad agencies multicultural adv.
  33. Economic effecets of advertising
    makes us aware of products and services
  34. Creative Selling
    • Assess situation, determine needs
    • Present ability to satisfy needs
    • Get order
  35. Order Taking
    • More Casual role
    • Often involves straight rebuying
  36. Missionary Sales
    • Essentially a support role
    • May not actually take orders
  37. Personal selling pros and cons
    • Advantages:
    • Two way interactions with prospect
    • message can be tailored to recipient
    • Prospect isnt likely to be distracted
    • Seller involved in purchase decision
    • Source of research information

    • Disadvantages
    • Messages may be inconsistent
    • Possible management sales force conflict
    • Cost is often extremely high
    • Reach may be very limited
    • Potential ethical problems
  38. Quantitive Measures of sales results
    • Orders
    • Sales Volume
    • Margins
    • Customer Accounts
    • Sales Calls
    • Selling Expenses
    • Customer Service
  39. Which one is Qualitative? Selling Skills or Sales Related Activities
    Both Are