BUAD 332 Exam 4 Questions with well explained answers

Direct Marketing - Answer-Connecting directly with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships New Direct-Marketing Model - Answer-1. Direct marketing has undergone a dramatic transformation. 2. Most firms use direct marketing as a supplemental channel or medium. 3. For many companies, direct marketing constitutes a new and complete model for doing business. 4. Some firms employ the direct model as their ONLY approach Growth of Direct Marketing - Answer-1. Fastest growing form of marketing 2. 10% of U.S. economy ($2.1 trillion) is generated by direct marketing sales. 3. Direct marketing continues to become more Web-oriented and Internet marketing is the fastestgrowing form of direct sales. Forms of Direct Marketing - Answer-1. Face-to-face selling 2. Direct-mail marketing 3. Catalog marketing 4. Telemarketing 5. Direct-response television marketing 6. Kiosk marketing 7. New digital technologies 8. Online marketing Direct-Mail Marketing - Answer-- Involves sending an offer, announcement, reminder, or other item to a person at a particular physical or virtual address. - Largest direct marketing medium - Well-suited to one-to-one communication. -Use of traditional forms may decline as marketers switch to newer digital forms. -Can be used effectively in combination with other media, such as web sites-Often perceived as junk mail Catalog Marketing - Answer-- Direct marketing through print, video, or digital catalogs that are mailed to select customers, made available in stores, or presented online. - More and more catalogs are going digital. -Print catalogs are still the primary medium Telephone marketing - Answer-- Accounts for 17% of all direct-marketing driven sales. - Used in both consumer and B2B markets. - Marketers use outbound and inbound calls. -Do-not-call legislation has impacted the telemarketing industry. Outbound - Answer-Sell directly to consumer Inbound - Answer-Toll-free ordering or order faxing New digital Technologies - Answer-Mobile phone marketing: mobile ad spending is expected to grow Online Marketing - Answer-- Company efforts to market products and services and build customer relationships over the internet. Online Marketing (Click-only companies) - Answer-Click-only companies: So called dot-coms, which operate only online without any brick and mortar presence - Types of click-only firms: 1. E-tailers (Amazon) 2. Search engines and portals 3. Transactions sites (eBay) 4. Content sites (ESPN)Online Marketing (Click and Mortar Companies) - Answer-Traditional brick-and-mortar companies that have added online marketing to their operations Click and mortar business trends - Answer-- Almost all traditional companies have set up their own online sales and communication presence. - Many click and mortar firms are having more online success than their click-only competitors