Exam (elaborations)
MKT 301 Ch 15 Questions & 100% Verified Correct Answers with complete solutions (Latest update
MKT 301 Ch 15 Questions & 100% Verified Correct Answers with complete solutions (Latest update
[Show more]
Seller
Follow
Content preview
MKT 301 Ch 15coordination of promotional efforts for maximum informational and persuasive effect -
ANS-integrated marketing communications (IMC)
What are the 5 goals of IMC? - ANS-1. Consistent message
2. Coordinate/manage promotional efforts
3. Synchronization of promotional elements
4. Use more precisely targeted promotional tools
5. Use of database marketing
Effective Message Tasks: - ANS-1. Gain the receiver's attention
2. Achieve understanding of both receiver and sender
3. Stimulate the receiver's needs and suggests an appropriate method of satisfying them
What are the 8 promotional objectives? - ANS-1. create awareness
2. stimulate demand
3. encourage product trial
4. identify prospects
5. retain loyal customers
6. facilitate reseller support
7. combat competitive promotional efforts
8. reduce sales fluctuations
For an organization that is introducing a new product or a line extension, making customers
_________ of the product is crucial to initiating the product adoption process. - ANS-aware
demand for a product category rather than for a specific brand - ANS-primary demand
promotion that informs consumers about a new product - ANS-new introductory promotion
demand for a specific brand - ANS-selective demand
Encourage product ______ in order to move them through the product adoption process. -
ANS-trial
Certain types of promotional efforts aim to identify customers who are interested in the firm's
product and are likely ____________ buyers. - ANS-potential
Maintaining _____________ customer relationships is a major goal of most marketers. -
ANS-long-term
, Strong __________ relationships are important to sustain a competitive advantage. -
ANS-reseller
At times, a marketer's objective in using promotion is to __________ or lessen the effect of a
competitor's promotional or marketing programs. - ANS-offset
A business cannot operate at peak efficiency when sales _____________ widely (holidays,
seasonal products, economic changes, etc.). - ANS-fluctuate
a combination of promotional methods used to promote a specific product - ANS-promotion mix
The 4 possible elements of a promotion mix - ANS-1. personal selling
2. public relations
3. advertising
4. sales promotions
A paid nonpersonal communication about an organization and its products transmitted to a
target audience through mass media - ANS-advertising
advantages of advertising - ANS--Extremely cost efficient (cost per person) in reaching
a large audience
-Repeatable several times and in several media markets
-Adds value to a product and enhances a firm's image
-Including celebrity endorsers can enhance a firm's and product's image
disadvantages of advertising - ANS-•Absolute dollar outlay is high during popular television
shows
•Rarely provides rapid feedback
•Difficult to measure its effect on sales
•Less persuasive than personal selling
•Limited time available to communicate a message to customers
A paid personal communication that seeks to inform customers and persuade them to purchase
products in an exchange situation - ANS-personal selling
advantages of personal selling - ANS-• Is a more specific form of promotion
• Has greater impact on consumers
• Provides immediate feedback
limitations of personal selling - ANS-• Is an expensive form of promotion
• Is labor intensive and time consuming
Broad set of communication efforts used to create/maintain favorable relationships between
organization and stakeholders - ANS-public relations
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller topgradesdr. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for CA$11.16. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73243 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now