LHR 427 EXAM 2 QUESTIONS AND ANSWERS
5 eras of marketing - Answer -the production era, the selling era, the marketing concept
era, the customer relationship era, and the emerging mobile/on-demand era
what are the parts of the marketing concept philosophy - Answer -customer orientation,
service orientation, profit orientation
learning as much as possible about customers and doing everything you can to satisfy
or exceed their expectations - Answer -customer relationship management (CRM)
for what reasons is marketing used in non-profit organizations - Answer -fundraising,
obtaining resources, promotion of ecologically safe technologies, attracting new
members, and creation of awareness for social issues
what are the 4 P's of the marketing mix - Answer -product, price, place, promotion
dividing the total market into groups whose members have similar characteristics -
Answer -market segmentation
marketing directed toward those groups an Organization decides it can serve profitably -
Answer -target market
5 methods for segmenting the consumer market - Answer -geographic, demographic,
psychographic, benefit, and volume or usage
dividing the market by cities, countries, states, or regions - Answer -geographic
segmentation
dividing the market by age, income, and education level - Answer -demographic
segmentation
dividing the market using the group's values, attitudes, and interests - Answer -
psychographic segmentation
dividing the market by determining which benefits of the product to talk about - Answer
-benefit segmentation
dividing the market usage - Answer -volume or usage segmentation
all the techniques sellers use to motivate people to buy their products - Answer -
promotion
Traditional Promotion Mix - Answer -advertising, sales promotion, public relations,
personal selling to achieve a product
, a technique that combines the promotional tools into one comprehensive and unified
promotional strategy - Answer -integrated marketing communication (IMC)
what are the steps in designing a promotional campaign - Answer -identify a target
market, define objectives of promotion mix, determine promotional budget, develop
unifying message, implement plan, and evaluate effectiveness
paid, non personal communication through various media by organizations and
individuals who are in some way identified in the advertising message - Answer -
advertising
major categories of advertising - Answer -retail, trade, business-to-business,
institutional, and product
to consumers by various retail stores - Answer -retail advertising
to wholesalers and retailers by manufactures - Answer -trade advertising
from manufacturers to other manufacturers - Answer -business-to-business advertising
to create attractive image for organization rather than for product - Answer -institutional
advertising
to create interest among consumers, commercial, and industrial buyers - Answer -
product advertising
supports particular view of issue - Answer -advocacy advertising
compares competitive products - Answer -comparison advertising
enables customers to choose the information they receive - Answer -interactive
advertising
appear on computers as people visit different websites - Answer -online advertising
reaches people on their smartphones - Answer -mobile advertising
good coverage of local markets, ads can be placed quickly, higher consumer
acceptance, ads can be saved (clipped and then saved) - Answer -advantages of
newspapers
ads compete with other features on this, poor color, short life-span (we throw them
away) - Answer -disadvantages of newspapers
5 eras of marketing - Answer -the production era, the selling era, the marketing concept
era, the customer relationship era, and the emerging mobile/on-demand era
what are the parts of the marketing concept philosophy - Answer -customer orientation,
service orientation, profit orientation
learning as much as possible about customers and doing everything you can to satisfy
or exceed their expectations - Answer -customer relationship management (CRM)
for what reasons is marketing used in non-profit organizations - Answer -fundraising,
obtaining resources, promotion of ecologically safe technologies, attracting new
members, and creation of awareness for social issues
what are the 4 P's of the marketing mix - Answer -product, price, place, promotion
dividing the total market into groups whose members have similar characteristics -
Answer -market segmentation
marketing directed toward those groups an Organization decides it can serve profitably -
Answer -target market
5 methods for segmenting the consumer market - Answer -geographic, demographic,
psychographic, benefit, and volume or usage
dividing the market by cities, countries, states, or regions - Answer -geographic
segmentation
dividing the market by age, income, and education level - Answer -demographic
segmentation
dividing the market using the group's values, attitudes, and interests - Answer -
psychographic segmentation
dividing the market by determining which benefits of the product to talk about - Answer
-benefit segmentation
dividing the market usage - Answer -volume or usage segmentation
all the techniques sellers use to motivate people to buy their products - Answer -
promotion
Traditional Promotion Mix - Answer -advertising, sales promotion, public relations,
personal selling to achieve a product
, a technique that combines the promotional tools into one comprehensive and unified
promotional strategy - Answer -integrated marketing communication (IMC)
what are the steps in designing a promotional campaign - Answer -identify a target
market, define objectives of promotion mix, determine promotional budget, develop
unifying message, implement plan, and evaluate effectiveness
paid, non personal communication through various media by organizations and
individuals who are in some way identified in the advertising message - Answer -
advertising
major categories of advertising - Answer -retail, trade, business-to-business,
institutional, and product
to consumers by various retail stores - Answer -retail advertising
to wholesalers and retailers by manufactures - Answer -trade advertising
from manufacturers to other manufacturers - Answer -business-to-business advertising
to create attractive image for organization rather than for product - Answer -institutional
advertising
to create interest among consumers, commercial, and industrial buyers - Answer -
product advertising
supports particular view of issue - Answer -advocacy advertising
compares competitive products - Answer -comparison advertising
enables customers to choose the information they receive - Answer -interactive
advertising
appear on computers as people visit different websites - Answer -online advertising
reaches people on their smartphones - Answer -mobile advertising
good coverage of local markets, ads can be placed quickly, higher consumer
acceptance, ads can be saved (clipped and then saved) - Answer -advantages of
newspapers
ads compete with other features on this, poor color, short life-span (we throw them
away) - Answer -disadvantages of newspapers
