CTVA 384 Final questions well
answered graded A+
What are the components of "The Triple Crown" of business? - correct answer ✔✔Marketing
Selling
Advertising
What is the difference between a prospect and a customer? Provide 3 distinguishing
characteristics of each. - correct answer ✔✔Prospect: Potential Customer (good candidate for
making a sale/discovering needs)
-requires information, discovering needs
-has never bough from you
-must be analyzed, evaluated, and researched
-opportunity for a new relationship
-making the presentation while responding to objections
Customer: Has a want, ability to pay, authority to buy, can be approached, is eligible
-requires information
-has bought from you before
-will require new information
-represents a past relationship, obtaining that initial commitment with follow up
Sometimes the wrong ad is directed at the wrong consumer target because the wrong medium
is chosen
,What are the 4 P's of marketing? Do you believe there is a viable 5th P? - correct answer ✔✔-
Product: function, packaging, services
-Price: cost, discount, margin
-Promotion: advertising, sales, probability
-Place: distribution, logistics, channel
5th P= People: focuses on customer service and account management. I believe it is viable
because without the people, the other 4 P's have no purpose.
What is "advertising"? What is the ultimate goal of advertising? - correct answer
✔✔Advertising: Marketing component that works to create and establish a real or perceived
need in the minds of consumers
Advertising must offer the established product or service to consumer prospects or customers
as a way to fulfill or satisfy the established need
Ultimate goal of Advertising: to sell the product or service when the seller, producer, or provider
cannot or does not have direct personal contact with the customer or consumer prospect
Describe the difference between "real need" and a "perceived need". Provide an example to
demonstrate. - correct answer ✔✔Real Need: something we need in our everyday lives
Perceived Need: something we can go without and still be fine
Real Needs
-Food
-Clothing
-Shelter
Perceived Needs
-In-N-Out Burger
, -Gucci Shoes
-Malibu Beach House
State the 3 "Golden Rules" of advertising - correct answer ✔✔▪Bad products or services will
generally fail, despite good advertising
▪Good products or services will often survive despite bad advertising
▪Good products or services will sometimes fail due to bad advertising
What led to the relationship between local television stations and film studios? - correct answer
✔✔-TV starts to have a noticeable impact on box office receipts
-Studios recognized the importance of owning television stations and networks
-Paramount purchases:
DuMont network in 1938
4 out of first 9 TV stations in US (by 1948)
MGM, Warner Bros, Disney, and 20th Century Fox also began to purchase local stations
Federal Communications Commission calls for TV freeze on new TV licenses from 1948-1952
When was the Fox Network (broadcast) founded and what was its impact on "Big Three"
networks? - correct answer ✔✔-The Fox Network starts broadcasting in 1987
-Growing popularity of cable provides competition for broadcast television
-Videocassette recorders become popular items
-Mergers cause all the major TV networks to change hands
-In 1980, the Cable News Network forces TV networks to reexamine their news operations
In what year were the WB and UPN networks launched? - correct answer ✔✔WB and UPN both
launch in January 1995
answered graded A+
What are the components of "The Triple Crown" of business? - correct answer ✔✔Marketing
Selling
Advertising
What is the difference between a prospect and a customer? Provide 3 distinguishing
characteristics of each. - correct answer ✔✔Prospect: Potential Customer (good candidate for
making a sale/discovering needs)
-requires information, discovering needs
-has never bough from you
-must be analyzed, evaluated, and researched
-opportunity for a new relationship
-making the presentation while responding to objections
Customer: Has a want, ability to pay, authority to buy, can be approached, is eligible
-requires information
-has bought from you before
-will require new information
-represents a past relationship, obtaining that initial commitment with follow up
Sometimes the wrong ad is directed at the wrong consumer target because the wrong medium
is chosen
,What are the 4 P's of marketing? Do you believe there is a viable 5th P? - correct answer ✔✔-
Product: function, packaging, services
-Price: cost, discount, margin
-Promotion: advertising, sales, probability
-Place: distribution, logistics, channel
5th P= People: focuses on customer service and account management. I believe it is viable
because without the people, the other 4 P's have no purpose.
What is "advertising"? What is the ultimate goal of advertising? - correct answer
✔✔Advertising: Marketing component that works to create and establish a real or perceived
need in the minds of consumers
Advertising must offer the established product or service to consumer prospects or customers
as a way to fulfill or satisfy the established need
Ultimate goal of Advertising: to sell the product or service when the seller, producer, or provider
cannot or does not have direct personal contact with the customer or consumer prospect
Describe the difference between "real need" and a "perceived need". Provide an example to
demonstrate. - correct answer ✔✔Real Need: something we need in our everyday lives
Perceived Need: something we can go without and still be fine
Real Needs
-Food
-Clothing
-Shelter
Perceived Needs
-In-N-Out Burger
, -Gucci Shoes
-Malibu Beach House
State the 3 "Golden Rules" of advertising - correct answer ✔✔▪Bad products or services will
generally fail, despite good advertising
▪Good products or services will often survive despite bad advertising
▪Good products or services will sometimes fail due to bad advertising
What led to the relationship between local television stations and film studios? - correct answer
✔✔-TV starts to have a noticeable impact on box office receipts
-Studios recognized the importance of owning television stations and networks
-Paramount purchases:
DuMont network in 1938
4 out of first 9 TV stations in US (by 1948)
MGM, Warner Bros, Disney, and 20th Century Fox also began to purchase local stations
Federal Communications Commission calls for TV freeze on new TV licenses from 1948-1952
When was the Fox Network (broadcast) founded and what was its impact on "Big Three"
networks? - correct answer ✔✔-The Fox Network starts broadcasting in 1987
-Growing popularity of cable provides competition for broadcast television
-Videocassette recorders become popular items
-Mergers cause all the major TV networks to change hands
-In 1980, the Cable News Network forces TV networks to reexamine their news operations
In what year were the WB and UPN networks launched? - correct answer ✔✔WB and UPN both
launch in January 1995
