©BRIGHTSTARS EXAM SOLUTIONS
11/16/2024 10:16 AM
CSFRST 2300 Exam 2 Questions With
Correct Answers
What are the 4 P's? - answer✔product, price, promotion, place
Product (Marketing Mix) - answer✔Is your product:
◦ Exciting?
◦ Of good quality?
◦ Providing better value than your competitors?
◦ Unique?
• What's the differentiator?
Price (marketing mix) - answer✔• What is your price policy?
• Who are your target customers?
• Is your product reasonably priced?
• Discount policy?
• More expensive or cheaper than your competitors?
Promotion (Marketing Mix) - answer✔• What is the most efficient channel for your target
market?
◦ Catalogs? Online?
• Does your promotion strategy reflect your target customers lifestyle?
• Does it go along with your price policy?
Place (marketing mix) - answer✔• Where do your target customers shop?
• Store type?
◦ Department store
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◦ Speciality store
◦ Mall shopping
◦ Online
• Logistics?
◦ Right time
◦ Right quantity
what is VIP? - answer✔value, identity, and product mix
why is VIP important? - answer✔‣ Is a more relevant communication strategy
what is value - answer✔‣ Value: the core value is the main reason for the brands existence and
customers purchase decision
what is product mix - answer✔‣ Product mix: the product and all its attributes
what is identity - answer✔‣ Identity: refers to both the visual identity and the brands
personality
what are the communications channels - answer✔advertising, PR, publicity, fashion shows and
launches, and in store promotions
types of advertising? - answer✔newspapers, magazines, TV, and mobile and online apps
Importance of newspapers - answer✔• Newspapers (sales, trends, special promotions, meet-
the-designer,...)
◦ Advantages: often cheaper to run an ad, wide circulation, less lead time
◦ Disadvantages: poor quality, not as attractive as glossy magazines, lots of clutter, discard
Importance of Magazines - answer✔◦ Advantages: better print quality, color, specialized
audiences, can include sample (scent strips)
◦ Disadvantages: cost more than newspaper ads, longer lead time needed, odd placement
importance of TV - answer✔◦ Advantages: live entertainment value, wide distribution, can be
targeted to audience
◦ Disadvantages: very expensive, long lead time, people may skip commercials and not see the
ad
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, ©BRIGHTSTARS EXAM SOLUTIONS
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importance of mobile and online apps - answer✔◦ Advantages: targeted to audience since
customers download
◦ Disadvantages: may be cluttered, so consumer ignores
what is PR? importance? - answer✔• Refers to activities controlled by the brand to create
favorable publicity and enhance the brand image
• Can be used to communicate socially responsible activities of company
• May include: press kits, give-aways, special events to raise awareness (charity, product
launches), or engage the community (food pantry drives, etc.), celebrity endorsements
• Advantages: can control message
• Disadvantages: requires time and money (often whole department for this, or outsource)
example of PR? - answer✔• Think of big campaigns — Nike "just do it" has new "possibilities"
film, narrates by Bradley cooper, showing people who overcome obstacles to goals, also app to
set and achieve any challenge
what is publicity? importance? - answer✔• Is non-paid, non-commissioned activity — such as
editorials or feature pieces
• Can be word of mouth (direct or on social media)
• Advantages: perceived as unbiased, not self serving
• Disadvantages: word-of-mouth or product reviews can be negative; brand cannot control
importance of fashion shows and launches? - answer✔• A lot of money and effort to show
designer collections but they are spectacular events — lots of press, important people, drama
• Advantages: generate "buzz" and PR, exciting, new
• Disadvantages: very costly, huge lead time, must know who to invite, when where, and what
importance of in-store promotions? - answer✔• To maximize communication, a brand needs to
design promotions differently for each
different kinds of in store promotions and their characteristics - answer✔• In store: good visual
merchandising, signage, sales, promotions such as "girls night shopping"
• Catalog: good visuals and written info., sales prompt delivery, reasonable shipping/returns
• Online and mail: good visuals and written info., sales, easy delivery/ordering/shipping/returns
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