IMC 104 B. Steele Midterm Exam Study
Guide | Key Concepts |100%Verified
|Graded A + and Updated
What is IMC?
Correct Answer:
"a combination of PR, sales, advertising, and marketing all wrapped up into one"
IMC is also known as
Correct Answer:
relationship marketing, it works to interactively engage a specific individual, using a specific
message through specific media outlets.
What does it mean when we say "every impression counts"?
Correct Answer:
every interaction builds the foundation for every relationship between customers and their
loyalty to you (the company).
What are the "Four P's" of marketing?
Correct Answer:
-Product
-Pricing
-Place
-Promotion
Product
Correct Answer:
can be tangible or non tangible
Pricing
Correct Answer:
usually money but can be a trade
Place
,Correct Answer:
(distribution) how a product gets where it is. sold to the ultimate customer
Promotion
Correct Answer:
advertising, PR, sales promotion, direct marketing, internet marketing, etc.
What is the "essence" or purpose of marketing?
Correct Answer:
Finding out what customers want and need and how to provide those things to them through the
right combination of products, pricing, distribution, and promotion.
Who can be in a relationship of marketing?
Correct Answer:
BOTH business-to-business and consumers
What are the factors in the marketing environment? (Uncontrollable
Correct Answer:
-Competition
-Economic
-Social
-Technology
-Regulatory Laws
-More
Competition
Correct Answer:
Changing price to compete with other companies
Economic
Correct Answer:
How the economy is doing, ex: bad market = people are less likely to spend high prices of
Starbucks
Social
Correct Answer:
trends, fads, ex: healthy eating trend makes it difficult for fast food
Technology
Correct Answer:
Everyone wants their products online
, Regulatory Laws
Correct Answer:
Restricts companies cause they have to follow certain laws
More
Correct Answer:
Weather, etc.
McDonald's Controllable Factors Example
Correct Answer:
1) Product- Food
2) Price- New branding is trying to convince you that its okay to pay more
3) Place- How food gets to the restaurants
4) Promotion- Ronald McDonald, sweepstakes, etc.
McDonald's Rebranding
Correct Answer:
They are remodeling buildings to move their brand from being a fast-food restaurant. to a "quick-
service" restaurant.
McDonald's Non-controllable Factors
Correct Answer:
1) Competition- Wendys -> Panera
2) Economic- poor economy = does better
3) Social- trend towards healthy eating hurts them
4) Technology- interfaces with customers (different payment methods)
5) Regulatory Laws- Must comply with food handling, nutrition labels, etc. (location)
What are the specific elements that make up IMC?
Correct Answer:
-Advertising
-Public Relations
-Sales Promotion
-Direct Marketing
-Personal Selling
-Other communication
Advertising
Correct Answer:
-print, radio, TV, internet, signs, & more
-paid communication
-controllable!!
Guide | Key Concepts |100%Verified
|Graded A + and Updated
What is IMC?
Correct Answer:
"a combination of PR, sales, advertising, and marketing all wrapped up into one"
IMC is also known as
Correct Answer:
relationship marketing, it works to interactively engage a specific individual, using a specific
message through specific media outlets.
What does it mean when we say "every impression counts"?
Correct Answer:
every interaction builds the foundation for every relationship between customers and their
loyalty to you (the company).
What are the "Four P's" of marketing?
Correct Answer:
-Product
-Pricing
-Place
-Promotion
Product
Correct Answer:
can be tangible or non tangible
Pricing
Correct Answer:
usually money but can be a trade
Place
,Correct Answer:
(distribution) how a product gets where it is. sold to the ultimate customer
Promotion
Correct Answer:
advertising, PR, sales promotion, direct marketing, internet marketing, etc.
What is the "essence" or purpose of marketing?
Correct Answer:
Finding out what customers want and need and how to provide those things to them through the
right combination of products, pricing, distribution, and promotion.
Who can be in a relationship of marketing?
Correct Answer:
BOTH business-to-business and consumers
What are the factors in the marketing environment? (Uncontrollable
Correct Answer:
-Competition
-Economic
-Social
-Technology
-Regulatory Laws
-More
Competition
Correct Answer:
Changing price to compete with other companies
Economic
Correct Answer:
How the economy is doing, ex: bad market = people are less likely to spend high prices of
Starbucks
Social
Correct Answer:
trends, fads, ex: healthy eating trend makes it difficult for fast food
Technology
Correct Answer:
Everyone wants their products online
, Regulatory Laws
Correct Answer:
Restricts companies cause they have to follow certain laws
More
Correct Answer:
Weather, etc.
McDonald's Controllable Factors Example
Correct Answer:
1) Product- Food
2) Price- New branding is trying to convince you that its okay to pay more
3) Place- How food gets to the restaurants
4) Promotion- Ronald McDonald, sweepstakes, etc.
McDonald's Rebranding
Correct Answer:
They are remodeling buildings to move their brand from being a fast-food restaurant. to a "quick-
service" restaurant.
McDonald's Non-controllable Factors
Correct Answer:
1) Competition- Wendys -> Panera
2) Economic- poor economy = does better
3) Social- trend towards healthy eating hurts them
4) Technology- interfaces with customers (different payment methods)
5) Regulatory Laws- Must comply with food handling, nutrition labels, etc. (location)
What are the specific elements that make up IMC?
Correct Answer:
-Advertising
-Public Relations
-Sales Promotion
-Direct Marketing
-Personal Selling
-Other communication
Advertising
Correct Answer:
-print, radio, TV, internet, signs, & more
-paid communication
-controllable!!
