MKTG 426 (Accurate solutions)

Bird dog correct answers Individual who, for a fee, will provide the names of leads for the salesperson; also called a spotter Blitz correct answers canvassing method in which a large group of salespeople attempt to make calls on all prospective businesses in a given geographic territory on a spe...

Giving these directly to prospects at a trade show can make a tremendous improvement in developing your company's marketing programs and deliverables correct answers sales presentations The biggest marketing related project you'll undertake for any trade show appearance is this correct answers ...

True correct answers In B2B markets, it is negotiated pricing vs. fixed pricing which is commonly found in B2C markets. Advantage correct answers When looking at how B2B Marketing interacts with B2B strategy, ______ describes what the firm does differently, better or as well as the best. It can b...

Where does Andy James work? correct answers New Pig Andy James - Harley Davidson correct answers left core audience to try to tap into a new audience & failed Maturity & Efficiency Breeds Erosion Andy James - Goldfish correct answers successful thought about a campaign focused on bullyin...

Drivers of Customer Dissatisfaction (Virgin Case) correct answers different price than advertised, price buckets, hidden costs, contracts Big Carrier Response (Virgin Case) correct answers don't do away with contracts because it would be too expensive, LTV with a contract is $540.34 and without ...

Digital merchandising correct answers term to encapsulate selling a product or service online, through website, mobile app, mobile-optiized website, social media, etc interchanegd with the word ecommerce or online merchandising Digital Merchandising V Digital marketing correct answers Digital ...

Versioning is possible only when: correct answers Product is not a commodity aka steel, copper, or coffee (vendor should have the ability to add unique features to different versions) Customers must be heterogeneous (diverse) in their valuation of the features in those versions. Flanker Brand ...

The Marketing Funnel correct answers 1) Awareness 2) Interest 3) Consideration 4) Intent 5) Evalutation 6) Purchase B2C Marketing Funnel correct answers 1) Search for information 2) Learn about the products 3) Read reviews and compare products 4) Put product in cart 5) Review shopping ...

Prospecting correct answers Process of locating potential customers for a product or service Salespeople must find new customers to replace those who: correct answers •Switch to competitors •Go bankrupt •Move out of the territory •Merge with noncustomers •Decide to do without a prod...

Process of developing effective sales copy correct answers Part 1. - The information gathering stage Part 2. - The writing stage Part 3 and 4. - The execution and layout stage The Information Gathering Stage correct answers Pull from these sources: best salespeople, product development managers...

Economies of scale correct answers When you expand globally, you will have more consumers, therefore will need to produce more-> which will decrease cost of production It means that the larger the business, non-profit or government, the lower its costs because the more you produce, the cheaper t...

B2B market characteristics correct answers -fewer customers -larger-value transactions -customized products -negotiated price -lengthly selling process -usage determines value -multiple buying decision makers -derived demand B2C Market characteristics correct answers -many customers -smal...

personal selling correct answers human driven interaction between individuals or organizations non sequential steps (not all steps required) creates value and economic exchange customer value proposition correct answers collection of buyer specific benefits how are principles of selling usef...

What was the size of the market opportunity? (Freemarkets Case) correct answers $85.2 billion With its Auction Pricing Approach, how was value created? (Freemarkets Case) correct answers the majority of the value was offline, such as identifying savings opportunities, preparing RFQs, identifying/...

Methods of Global Expansion correct answers Foreign direct investment joint venture/ alliance licensing-tech and or brand export Resistance to exporting products and services correct answers 1. too risky - payment collection risk - market acceptance/penetration risk 2. complexity 3. local ...

Purchasing correct answers the activity of acquiring goods or services to accomplish the goals of an organization goals of formal purchasing organizations correct answers -Uninterrupted flow of materials -Manage inventory -Improve quality -Developing and managing supplier relationships -Achie...

4 Methods of Global Expansion correct answers 1. Foreign Direct Investment 2.Joint Venture/Alliance 3. Licensing-Technology and/or Brand 4Export 90% of of world population will be living in developing countries by correct answers 2030 SME correct answers Small-medium sized enterprises Bu...

Economic Tangible Benefits correct answers Focus on comparing with current alternatives available to customer- show superior price to performance Economic Intangible Benefits correct answers Burden of proof is on the vendor. Typical approaches - benchmark studies, pilot tests, or guarantees to of...

Multi-sense appeals correct answers Appealing to more than one sense increases understanding dramatically testimonials correct answers statements written by satisfied users of a product or service portfolio correct answers collection of visual aids digital collateral management systems corr...

Which company listed in the Social Media article created a 30-minute video that generated buzz and traffic to their website for their product launch SOA that generated tens of thousands of leads? IBM Oracle Cisco Ingram Micro correct answers IBM According to the Sales Funnel in the article, m...

Branding Strategies in B2B Markets correct answers House of Brands OR Branded House For the most part, B2B companies adopt a ______________ approach to branding. correct answers "Branded House" or "Umbrella" Branded House Approach correct answers Relationship mktg approach, build relations...

Ambush Marketing correct answers A Promotional Strategy Whereby a Non-sponsor Attempts to Capitalize on the Popularity/Prestige of a Property by Giving the False Impression that It Is a Sponsor Parasite Marketing correct answers A Parasite Attaches Itself to an Unwilling Host and Takes Nourishmen...

In B2B markets, it is negotiated pricing vs. fixed pricing which is commonly found in B2C markets. a. True b. False correct answers a. True When looking at how B2B Marketing interacts with B2B strategy, ____ describe(s) what the firm does differently, better, or as well as the best. It can be...

Benefits of Global Marketing correct answers -Economies of scale in production and marketing -Transfer of experience and know-how across countries -Global diversity in marketing talent leading to new approaches -Spreading the portfolio of markets brings stability of revenues and operations to ...

According to the service-profit chain, __________ is positively related to customer satisfaction correct answers employee satisfaction Term for frontline employees referring to their function as a link between the external customer and internal operations of them firm correct answers boundary spa...

price skimming correct answers when the objective is to reach a segment of the market that is price insensitive and will pay premium -start high -ex apple -- you have to buy the $1200 iPhone profit maximization correct answers making as much money as quickly as possible market share correc...

Services correct answers Deeds, processes, and performances provided, coproduced, or cocreated by 1 entity // person for and/or with another entity/person What are categories of service? correct answers 1. Service as a product 2. Customer service 3. Derived service Service as a product corre...

The Customer gap correct answers difference between customer expectations and perceptions The provider gaps correct answers Gap 1 - The Listening Gap Gap 2 - The Service Design and Standards Gap Gap 3 - The Service Performance Gap Gap 4 - The Communication Gap Provider gap 1 correct answers...

What are company defined service standards based on? correct answers Internal company goals such as productivity, efficiency, technical quality. What is an example of a company defined service standard? correct answers - Time spent with customer on the phone. - Number of customers served per hou...

Corporate Culture correct answers The pattern of shared values and beliefs that give members of an organization meaning, and provide rules for behavior within the organization Culture correct answers "The way we do things around here" Service Culture correct answers "A culture where an appr...

Relationship Marketing correct answers a strategy that focuses on keeping and improving relationships with current customers rather than on acquiring new customers. Customers as Strangers correct answers Those customers who have not yet had any interactions with a firm yet - attraction Custome...

Which of the following is not discussed as a benefit of segmentation? correct answers decreased cost due to longer production runs and less product variations Which of the following is an example of a macro segmentation variable? correct answers A firm's industrial classification It was state...

Customer Experience Maps correct answers map out customer experiences at different touch points (spots where a seller has direct/indirect contact w/ customer about the product/service) maps what is important in the seller/customers experience Ultimate Goal of Experience Map is to identify (3) ...

The actions taken by a company in response to a service failure. correct answers Service Recovery A consumer who is more likely to engage in negative word-of-mouth than any other type of consumer. correct answers Irate complainer The _______ suggests an initially disappointed customer who has ...

how can human resource management build a sustainable competitive advantage for a retailer? correct answers -responsible for aligning the capabilities and behaviors of employees with the short and long term goals of the retail firm -can build competitive advantage by lowering costs and/or increasin...

Define "touchpoints" correct answers spots where a seller has direct or indirect contact with the customer about the product or service over time. What is a customer experience map? correct answers points out what is most important in the seller/customers' experience. Ultimate Goal of the M...