MKTG 3340 Orosy SMU Exam 2 (2 part) Questions with Correct Solutions

Role of Marketing Generate profitable revenue When a marketer can describe something it is called a product concept After buying an item we experience what? cognitive dissonance Ways to engage consumers, directly or indirectly -Directly: physically, email newsletters, one to one basis, calling, sending direct ads/texting, create relationship, personalizing advertising toward you -Indirectly: social media, PR, content marketing, commercials, billboards Role of the internet in terms of marketing capabilities -quicker speed -less expensive -reach more people more readily -better target/micro target -more efficient Why digital marketing works..." better than non-digital" -overall efficiency -less expensive -dynamic/more immediate -can change it -FASTEST GROWING FORM OF MARKETING Advantages of direct and digital -Buyers and Sellers: convenience, ready access to many products, access to comparative information about companies, products and competitors, interactive and immediate -Sellers: tool to build customer relationships, low-cost, efficient, fast alternative to reach markets, flexible, access to buyers not reachable through other channels Advantages of transacting online -quick feedback -convenient -immediate -collects info about buyer -effective and efficient Role of a non-transactional website -inform/advertise to the consumer -create brand awareness -trusted source -charitable cause -can provide information/advertise