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Review – Fall 2013 True/False In business, a marketing concept will list information such as ethnic background, age, income & geographic location.

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Presentation on theme: "Review – Fall 2013 True/False In business, a marketing concept will list information such as ethnic background, age, income & geographic location."— Presentation transcript:

1 Review – Fall 2013 True/False In business, a marketing concept will list information such as ethnic background, age, income & geographic location.

2 False

3 True/False People who share similar needs and wants and who can purchase your products are called a market.

4 True

5 Understanding ethnic backgrounds and household income is part of market segmentation.

6 True

7 Buy one – get one – example of distribution

8 False

9 Miniature Golf provides ?

10 service

11 Which economic utility increased when fast food restaurants began accepting credit cards?

12 possession utility

13 Which of the utilities is not directly related to marketing?

14 Form

15 Which of the following purchases would most likely be made with discretionary income? a.fruits and vegetablesc.underwear and socks b.magazine d.a three- subscriptions bedroom house

16 magazine subscriptions

17 Informing, persuading, or reminding potential customers about a product or service is called ____________________.

18 promotion

19 Retailers offer their customers installment or layaway plans in order to increase the ____________________ utility of their products.

20 possession

21 The employees of a home improvement warehouse are expert craftspeople who enjoy giving their customers advice about do-it- yourself projects. The employees' advice increases the ____________________ utility of their goods.

22 information

23 After conducting market research, Whole Breads Inc. decides to introduce a new low carb muffin to increase their sales. What basic marketing strategy applies? ____________________

24 product planning

25 When demand and production for a product increases in the world of Marketing, what usually decreases? ____________

26 prices

27 A combination of geographic, demographic and psychographic data about a group of people can be used to create a customer ____________________.

28 profile

29 Information about the values and attitudes that shape consumers' lifestyles is called ____________________.

30 psychographics

31 Expectations that reflect a marketing plans objectives is called a(n) _________________________.

32 performance standard

33 Political, economic, socio-cultural and technological are four areas that make up the _________________________.

34 environmental scan

35 The current state of the ____________________ is of interest to all businesses because it will shape both business costs and consumer spending.

36 economy

37 Businesses that buy products for use in their operations

38 industrial market

39 Deciding how much to charge for goods and services

40 pricing

41 Percentage of total sales generated by competing companies

42 market share

43 Providing customers with goods and services they want

44 selling

45 The added value of a product in economic terms

46 utility

47 Deciding how goods get into customers hands

48 channel management

49 Obtaining, developing, or improving a product

50 product/service management

51 Product, price, place, promotion

52 marketing mix

53 brief overview of entire marketing plan

54 executive summary

55 characteristics such as age, gender, ethnic background, income

56 demographics

57 a combination of four strategies used to market a product

58 marketing mix

59 separating large groups into smaller groups based on characteristics

60 market segmentation

61 information about where people live

62 geographics

63 product information gathered from Internet use

64 Research

65 putting a market plan into action and managing it

66 implementation

67 money left after taking out taxes

68 disposable income

69 What system involves finding customers and keeping them satisfied?

70 customer relationship management

71 During which step of the sale should you learn what the retail customer is looking for in a good or service?

72 determining needs

73 During a presentation, what is the maximum number of items a salesperson should show a customer at one time?

74 three

75 A customer in a computer store tells the salesperson, “I can’t buy this software program. I don’t understand the directions.” The salesperson’s replies, “Let’s read over the directions together. What is the first direction you find confusing?” What method of handling objections is the salesperson using?

76 question

77 When a customer is having difficulty making a buying decision, what should the salesperson do

78 . stop showing additional merchandise

79 Questions that require more than a “yes” or “no” answer are called ____________________ questions

80 Open-ended

81 Based on the dependability of her last Volkswagen automobile, Selena decided to buy a new one. So she had a(n) ________________ motive for her purchase.

82 Rational

83 A technique that addresses objections by showing the customer how to operate a product is called the ____________________ method.

84 Demonstration

85 help customers make satisfying buying decisions with ongoing relationship

86 selling

87 direct contact between a salesperson and a customer

88 personal selling

89 little or no previous experience with an item

90 extensive decision making

91 sales exchanges between two or more companies

92 organizational selling

93 phone solicitation to make a sale

94 telemarketing

95 companies in touch with customers via Facebook and Twitter

96 social media

97 locating potential customers without checking leads

98 cold canvassing

99 logical reason for making a purchase

100 rational motive

101 matching product with customer’s needs and wants

102 feature-benefit selling

103 a product feature that benefits the customer

104 selling point

105 way to determine needs

106 observe

107 “how may I help you?”

108 service approach

109 concerns, hesitations, doubts

110 objections

111 recommending a different product

112 substitution method

113 a neutral person or previous customer

114 third party

115 overcoming objection based on misinformation

116 denial

117 vocabulary used with industrial buyers

118 jargon

119 words that average customers can understand

120 layman’s terms

121 Finding customers and keeping them satisfied

122 CRM

123 suggesting related merchandise

124 suggestion selling

125 can be used when the price of a product will soon increase

126 standing-room-only close

127 used when the buying signal is strong

128 direct close

129 a first attempt to get a customer’s agreement to buy

130 trial close

131 offering a customer a payment plan for a purchase

132 service close

133 What is a special price discount that is given as an incentive to wholesalers and retailers?

134 promotional allowance

135 The business often has the least control over which type of promotion?

136 publicity

137 An elaborate display of utensils and various pans needed for cooking a Thanksgiving meal would be what type of display?

138 related-merchandise display

139 Score Sporting Goods always has a display with mannequins engaged in actual season- appropriate sports. How would you describe the settings for such displays?

140 realistic

141 What part of the store layout includes the aisles?

142 the selling space

143 What is an ad layout?

144 sketch showing a general arrangement of ad

145 A promotional ____________________ is a cost-effective combination of strategies designed to reach a company’s goals.

146 Mix

147 Sales promotion activities targeted for manufacturers, wholesalers, and retailers are called ____________________ promotions

148 trade

149 ____________________ selling involves communicating with customers directly through meetings, demonstrations, e-mail, or telephone communication

150 personal

151 The primary purpose of visual merchandising is to coordinate all of a business’s physical elements in order to project a particular ____________________ to customers.

152 Image

153 Store space that is devoted to lounges, restaurants, and seating areas is called ____________________

154 customer

155 The store IKEA provides many ____________________ displays that show model kitchens, bedrooms, and living rooms.

156 Architectural

157 Green, yellow-green, and yellow are known as ____________________ colors because they are next to each other in the color wheel.

158 Adjacent

159 Radio and television are both considered ____________________ media, but Web sites are not

160 Broadcast

161 A(n) ____________________ ad is an advertisement that appears as a rectangle or various shapes and sizes at the top, bottom, or side of a Web page.

162 Banner

163 An advertisement for Armstrong flooring includes the following phrase in its headline: “The Height of Fashion Right At Your Feet.” The headline is an example of the use of ____________________

164 paradox

165 An advertising agency that performs research, selects media, and develops copy and art for a business is called a(n) ____________________ agency.

166 full-service

167 An advertising ____________________ shows exactly how an ad will appear when printed.

168 proof

169 incentives that encourage customers to buy products or services

170 sales promotion

171 money a manufacturer pays a retail chain to place a product on store shelves

172 slotting allowance

173 a story sent to the media which is written by and about a company or organization

174 news release

175 interactive electronic media for people with similar interests

176 social media

177 convince a retailer to stock products being promoted

178 push policy

179 positive communication about a business

180 institutional promotion

181 an item such as a coupon or factory pack that is free to consumers as a condition of purchase

182 premium

183 negotiated right to use logos and names on retail products

184 sponsorship

185 a display case, counter, or bench

186 fixture

187 the physical outline of a display

188 shape

189 a spot that attracts attention first

190 focal point

191 found on opposite sides of a color wheel, they create contrast

192 complimentary colors

193 the relationship between and among objects in an arrangement

194 proportion

195 the combination of entrances, window awnings, and other exterior building characteristics

196 storefront

197 stand-alone structures that serve as promotion devices

198 POPs

199 fee paid to a newspaper that can guarantee advertising space during a specific period

200 contract rate

201 ads combined with animation, video, sound, interactivity

202 internet advertising

203 type of print media that can be restricted in certain locations

204 billboard

205 printed posters on subways, buses, and trains

206 transit advertising

207 advertising designed to increase sales

208 promotional advertising

209 publication targeted for professionals with an interest in a particular field

210 trade magazine

211 process of selecting appropriate advertising media

212 media planning

213 useful products imprinted with an advertiser’s name

214 specialty media

215 a rough draft to sketch

216 ad layout

217 selling message of a written advertisement

218 copy

219 a business’s identification symbol; a logo

220 signature

221 repeated initial consonant sounds

222 alliteration

223 humorous use of word suggesting two or more of its meanings

224 pun

225 an entire collection of advertisements as a coordinated plan

226 ad campaign

227 phrase that attracts readers’ attention

228 headline

229 catch phrase that identifies a product

230 slogan

231 form of non-personal promotion

232 advertising

233 news presentations that create awareness of an organization in the market place

234 publicity

235 the sign showing a business’ name

236 marquee


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