MKTG455 Exam 3: Marketing Communications and Strategy Exam

MKTG455 Exam 3: Marketing Communications and Strategy Exam What percentages of buying decisions are made after entering the store? - ANS: 76% Reasons for power shift to retailer - ANS: 1.Way more options for retailing mediums 2.Retailers are demanding it What is sales promotion? - ANS: 1.All promotional activities that stimulate SHORT-TERM behavioral responses from: - Consumers - Trade [distributors, wholesalers, retailers] 2. Company's sales force* Incentivizes targets beyond the benefit/value of the products alone What promotions can accomplish: - ANS: •Stimulate Sales Force especially for new, improved or mature products •Invigorate sales of mature products •Facilitate Introduction of new products to the Trade •Increase On- and Off-Shelf Merchandising Space •Neutralize competitive advertising and sales promotion •Obtain trial purchase by consumers •Hold current users by encouraging repeat purchases •Increase product usage by loading customers •Preempt competition from loading customers •Reinforce advertising Slotting - ANS: Brand managers spend lots of time slotting their products to new stores. Paying retailers to encourage them to carry their products. One of the biggest businesses in retailing. Loading customers - ANS: promote to existing customers to encourage lots of purchase, load them up. What promotions can't accomplish - ANS: •Compensate for poorly trained sales force or lack of advertising (poor customer service)