Transcript Slide 1
Exam 3 Review Contents • 8 to 10 True/False Questions • 43 to 46 MC • 1 short essay question. Guess which? Chapters • Chapter 13- Retailing – What is retailing (definition) – Classification of retail operations (ownership, level of service, product assortment, price, margin) – Major types of retail operations (department stores, specialty stores, supermarkets, supercenters, discount, etc) – Retailing mix( MM + presentation and personnel) Chapter 14 • Heavy • What is promotion/promotional activity/ IMC • Promotional mix (advertising, PR, Sales promo, personal selling)- with definitions and focus on comparison-personal/paid/mass. • Communication process (components: sender/encoding/decoding/channel/noise/ receiver/feedback) Chapter 14 • AIDA (attention, interest, desire, action) • Which promotional tool is most effective in which stages: exhibit 14.4, page 220 • Promotional mix and PLC: i.e.how do promo mix changes is a product is in growth stage? – Heavy adv, PR, less sales promo, maintain Personal Selling – Push/Pull strategies Chapter 15 • Types of advertising (corporate/product) – Corporate (image, advocacy) – Product (pioneering, competitive, comparative) – Product benefits vs. product attributes – Advertising campaigns (def, objectives.) – Advertising appeals (reasons to buy a product) • Fear, love, profit, ego, fun, health, popularity – Message execution (slice of life, lifestyle, demonstration, humorous, fantasy, dramatization) Chapter 15 cont • Metrics: cost/contact, reach (# of different target consumers who are exposed to a commercial at least once during a specific period), frequency (# of times an individual is exposed to a message during a spec. period) • Media scheduling (continuous, flight, pulse) • PR/ Publicity/ Product placement (definitions) Chapter 16 • Types of sales promotion (consumer/trade) • Consumer sales promo (coupons, rebates, premiums, constests/sweepstakes, POP) • Trade sales promo (push money, trade allowances, training) • Personal selling (definition) Chapter 17 • Price (definition, monetary/non-monetary) • Revenue, revenue calculation (?) • ROI (what is that? Net profit after taxes/total assets) • Market share (units, $) and profitability • Demand/supply (definition) • Elasticity of demand (calculation), interpretation • What is break-even analysis (definition, no calculation, for your own good try the calculations also) Chapter 18 • Price skimming/penetration/status quo (these are pricing strategies) • Fine tuning: – What is: • • • • • Cash/quantity discount Cost/competition/value(demand) based cost structure Geographic pricing (FOB, zone pricing) Price lining/line pricing Bait and switch