Transcript Adv`d Info Tech

Review – Fall 2013
• True/False
• In business, a marketing concept will list
information such as ethnic background, age,
income & geographic location.
False
True/False
• People who share similar needs and wants
and who can purchase your products are
called a market.
• True
• Understanding ethnic backgrounds and
household income is part of market
segmentation.
• True
• Buy one – get one – example of distribution
False
Miniature Golf provides ?
• service
• Which economic utility increased when fast
food restaurants began accepting credit cards?
•
possession utility
• Which of the utilities is not directly related to
marketing?
• Form
• Which of the following purchases would most
likely be made with discretionary income?
• a. fruits and vegetables c.
underwear and
socks
• b. magazine
d. a threesubscriptions
bedroom house
• magazine subscriptions
• Informing, persuading, or reminding potential
customers about a product or service is called
____________________.
• promotion
• Retailers offer their customers installment or
layaway plans in order to increase the
____________________ utility of their
products.
• possession
• The employees of a home improvement
warehouse are expert craftspeople who enjoy
giving their customers advice about do-ityourself projects. The employees' advice
increases the ____________________ utility
of their goods.
• information
• After conducting market research, Whole
Breads Inc. decides to introduce a new low
carb muffin to increase their sales. What basic
marketing strategy applies?
____________________
• product planning
• When demand and production for a product
increases in the world of Marketing, what
usually decreases? ____________
• prices
• A combination of geographic, demographic
and psychographic data about a group of
people can be used to create a customer
____________________.
• profile
• Information about the values and attitudes
that shape consumers' lifestyles is called
____________________.
•
• psychographics
• Expectations that reflect a marketing plans
objectives is called a(n)
_________________________.
• performance standard
• Political, economic, socio-cultural and
technological are four areas that make up the
_________________________.
• environmental scan
• The current state of the
____________________ is of interest to all
businesses because it will shape both business
costs and consumer spending.
• economy
• Businesses that buy products for use in their
operations
• industrial market
• Deciding how much to charge for goods and
services
• pricing
• Percentage of total sales generated by
competing companies
• market share
• Providing customers with goods and services
they want
• selling
• The added value of a product in economic
terms
• utility
• Deciding how goods get into customers hands
• channel management
• Obtaining, developing, or improving a product
• product/service management
• Product, price, place, promotion
• marketing mix
• brief overview of entire marketing plan
• executive summary
• characteristics such as age, gender, ethnic
background, income
• demographics
• a combination of four strategies used to
market a product
• marketing mix
• separating large groups into smaller groups
based on characteristics
• market segmentation
• information about where people live
• geographics
• product information gathered from Internet
use
• Research
• putting a market plan into action and
managing it
• implementation
• money left after taking out taxes
• disposable income
• What system involves finding customers and
keeping them satisfied?
• customer relationship management
• During which step of the sale should you learn
what the retail customer is looking for in a
good or service?
• determining needs
• During a presentation, what is the maximum
number of items a salesperson should show a
customer at one time?
• three
• A customer in a computer store tells the
salesperson, “I can’t buy this software
program. I don’t understand the directions.”
The salesperson’s replies, “Let’s read over the
directions together. What is the first direction
you find confusing?” What method of
handling objections is the salesperson using?
• question
• When a customer is having difficulty making a
buying decision, what should the salesperson
do
• . stop showing additional merchandise
• Questions that require more than a “yes” or
“no” answer are called
____________________ questions
• Open-ended
• Based on the dependability of her last
Volkswagen automobile, Selena decided to
buy a new one. So she had a(n)
________________ motive for her purchase.
• Rational
• A technique that addresses objections by
showing the customer how to operate a
product is called the ____________________
method.
• Demonstration
• help customers make satisfying buying
decisions with ongoing relationship
• selling
• direct contact between a salesperson and a
customer
• personal selling
• little or no previous experience with an item
• extensive decision making
• sales exchanges between two or more
companies
• organizational selling
• phone solicitation to make a sale
• telemarketing
• companies in touch with customers via
Facebook and Twitter
• social media
• locating potential customers without checking
leads
• cold canvassing
• logical reason for making a purchase
• rational motive
• matching product with customer’s needs and
wants
• feature-benefit selling
• a product feature that benefits the customer
• selling point
• way to determine needs
• observe
• “how may I help you?”
• service approach
• concerns, hesitations, doubts
• objections
• recommending a different product
• substitution method
• a neutral person or previous customer
• third party
• overcoming objection based on
misinformation
• denial
• vocabulary used with industrial buyers
• jargon
• words that average customers can understand
• layman’s terms
• Finding customers and keeping them satisfied
• CRM
• suggesting related merchandise
• suggestion selling
• can be used when the price of a product will
soon increase
• standing-room-only close
• used when the buying signal is strong
• direct close
• a first attempt to get a customer’s agreement
to buy
• trial close
• offering a customer a payment plan for a
purchase
• service close
• What is a special price discount that is given
as an incentive to wholesalers and retailers?
• promotional allowance
• The business often has the least control over
which type of promotion?
• publicity
• An elaborate display of utensils and various
pans needed for cooking a Thanksgiving meal
would be what type of display?
• related-merchandise display
• Score Sporting Goods always has a display
with mannequins engaged in actual seasonappropriate sports. How would you describe
the settings for such displays?
• realistic
• What part of the store layout includes the
aisles?
• the selling space
• What is an ad layout?
• sketch showing a general arrangement of ad
• A promotional ____________________ is a
cost-effective combination of strategies
designed to reach a company’s goals.
• Mix
• Sales promotion activities targeted for
manufacturers, wholesalers, and retailers are
called ____________________ promotions
• trade
• ____________________ selling involves
communicating with customers directly
through meetings, demonstrations, e-mail, or
telephone communication
• personal
• The primary purpose of visual merchandising
is to coordinate all of a business’s physical
elements in order to project a particular
____________________ to customers.
• Image
• Store space that is devoted to lounges,
restaurants, and seating areas is called
____________________
• customer
• The store IKEA provides many
____________________ displays that show
model kitchens, bedrooms, and living rooms.
• Architectural
• Green, yellow-green, and yellow are known as
____________________ colors because they
are next to each other in the color wheel.
• Adjacent
• Radio and television are both considered
____________________ media, but Web sites
are not
• Broadcast
• A(n) ____________________ ad is an
advertisement that appears as a rectangle or
various shapes and sizes at the top, bottom, or
side of a Web page.
• Banner
• An advertisement for Armstrong flooring
includes the following phrase in its headline:
“The Height of Fashion Right At Your Feet.”
The headline is an example of the use of
____________________
• paradox
• An advertising agency that performs research,
selects media, and develops copy and art for a
business is called a(n)
____________________ agency.
• full-service
• An advertising ____________________ shows
exactly how an ad will appear when printed.
• proof
• incentives that encourage customers to buy
products or services
• sales promotion
• money a manufacturer pays a retail chain to
place a product on store shelves
• slotting allowance
• a story sent to the media which is written by
and about a company or organization
• news release
• interactive electronic media for people with
similar interests
• social media
• convince a retailer to stock products being
promoted
• push policy
• positive communication about a business
• institutional promotion
• an item such as a coupon or factory pack that
is free to consumers as a condition of
purchase
• premium
• negotiated right to use logos and names on
retail products
• sponsorship
• a display case, counter, or bench
• fixture
• the physical outline of a display
• shape
• a spot that attracts attention first
• focal point
• found on opposite sides of a color wheel, they
create contrast
• complimentary colors
• the relationship between and among objects
in an arrangement
• proportion
• the combination of entrances, window
awnings, and other exterior building
characteristics
• storefront
• stand-alone structures that serve as
promotion devices
• POPs
• fee paid to a newspaper that can guarantee
advertising space during a specific period
• contract rate
• ads combined with animation, video, sound,
interactivity
• internet advertising
• type of print media that can be restricted in
certain locations
• billboard
• printed posters on subways, buses, and trains
• transit advertising
• advertising designed to increase sales
• promotional advertising
• publication targeted for professionals with an
interest in a particular field
• trade magazine
• process of selecting appropriate advertising
media
• media planning
• useful products imprinted with an advertiser’s
name
• specialty media
• a rough draft to sketch
• ad layout
• selling message of a written advertisement
• copy
• a business’s identification symbol; a logo
• signature
• repeated initial consonant sounds
• alliteration
• humorous use of word suggesting two or
more of its meanings
• pun
• an entire collection of advertisements as a
coordinated plan
• ad campaign
• phrase that attracts readers’ attention
• headline
• catch phrase that identifies a product
• slogan
• form of non-personal promotion
• advertising
• news presentations that create awareness of
an organization in the market place
• publicity
• the sign showing a business’ name
• marquee