p.33
Customer Behavior and Market Definition
What is the focus of Chapter 4 in Promotion and Advertising Management?
Perspectives on Consumer Behavior.
p.31
Push vs Pull Promotional Strategies
What is the focus of the Marketing and Promotions Process Model?
It outlines the steps involved in effectively promoting and advertising products.
p.29
Positioning and Repositioning Strategies
What can prompt a change in a product's or brand's position?
Declining or stagnant sales and anticipated opportunities in other market positions.
p.28
Target Marketing and Market Segmentation
Who is the target audience for Gatorade?
Active athletes of all ages and performance levels who love to compete.
p.28
Value Proposition Development
What is the primary benefit of Gatorade?
It quenches thirst while replacing fluids and electrolytes lost through strenuous activity.
p.24
Slogans and Taglines in Marketing
How do slogans differ from taglines?
Slogans can be longer than taglines.
p.9
Integrated Marketing Communications (IMC)
What are complementers in the context of marketing?
Firms that benefit from other firms selling products, typically through complementary products.
p.7
Competitive Analysis and Advantage
What does a CONTEXT analysis provide an overview of?
The general environment, industry, and marketplace.
p.27
Positioning and Repositioning Strategies
What is the structure of a positioning statement?
Among [target market], [x] is the brand of [frame of reference] that [point of difference] because [reason to believe].
p.23
Slogans and Taglines in Marketing
What does a slogan encompass?
A company's mission, what it stands for, and how it helps customers.
p.20
Value Proposition Development
What is Evernote?
A free downloadable app for computers and smartphones that allows synchronization of notes and files.
p.9
Integrated Marketing Communications (IMC)
What is the role of collaborators in marketing?
They help the firm market products.
p.27
Positioning and Repositioning Strategies
What is the purpose of a positioning statement in marketing?
It serves as the messaging cornerstone to an integrated marketing campaign.
p.17
Value Proposition Development
What does a value proposition encapsulate?
The position a company wishes to take compared with competitors.
p.7
Competitive Analysis and Advantage
What are some elements to consider in a CONTEXT analysis?
Trends, dynamics, problems, and opportunities.
p.10
Competitive Analysis and Advantage
What is Rule 1 in marketing warfare?
Be familiar with the terrain.
p.13
Push vs Pull Promotional Strategies
What is the focus of the Marketing and Promotions Process Model?
It outlines the steps involved in effectively promoting and advertising products or services.
p.19
Value Proposition Development
What does the formula V A - P A > V B - P B represent?
It indicates that the value and price of option A must be greater than that of option B for a persuasive value proposition.
p.9
Integrated Marketing Communications (IMC)
Who are considered collaborators in marketing?
Suppliers, distributors, retailers, and key influencers.
p.23
Slogans and Taglines in Marketing
Give an example of a well-known slogan.
There are some things money can't buy. For everything else, there's MasterCard.
p.24
Slogans and Taglines in Marketing
What is the slogan of M&M'S®?
'Melts in Your Mouth, Not in Your Hands.'
p.26
Value Proposition Development
What specific benefits can customers expect from the Value Proposition?
The specific benefits that customers can expect from the product.
p.12
Target Marketing and Market Segmentation
What is important to understand about marketplace segmentation?
How the marketplace is segmented.
p.2
Integrated Marketing Communications (IMC)
What does IMC stand for?
Integrated Marketing Communications.
p.24
Slogans and Taglines in Marketing
What mission does M&M'S® promote?
Championing the power of fun to create a world where everyone feels they belong.
p.27
Positioning and Repositioning Strategies
Provide an example of a positioning statement.
Among snackers, Snickers is the brand of candy bar that satisfies your hunger because it is packed with peanuts.
p.17
Value Proposition Development
What does a value proposition clearly articulate?
Why someone would want to buy your offering.
p.2
Integrated Marketing Communications (IMC)
Why is consistency important in IMC?
It builds brand trust and recognition among consumers.
p.27
Positioning and Repositioning Strategies
What is meant by 'reason to believe' in a positioning statement?
It provides justification or evidence for the brand's claims.
p.23
Slogans and Taglines in Marketing
How do slogans differ from taglines?
Slogans can be longer than taglines.
p.30
Marketing Mix Decisions
What must marketers be knowledgeable about to develop an effective marketing mix?
The issues and options of each element of the mix.
p.21
Value Proposition Development
What should a value proposition explain about the offering?
Why it is unique and different.
p.30
Market Analysis and Strategy
What should marketers analyze to develop their marketing strategy and mix?
The market and use the data.
p.20
Promotion and Advertising Management
What is the effect of the color scheme used in Evernote's advertising?
It is calming to the eye.
p.10
Positioning and Repositioning Strategies
What is essential to establish why your product is superior?
Adopting the Competitive Positioning framework.
p.15
Target Marketing and Market Segmentation
What are key considerations regarding market size?
Market size, growth rate, and market potential.
p.16
Positioning and Repositioning Strategies
What is the goal of positioning a product or service?
To make it unique within the marketplace.
p.32
Push vs Pull Promotional Strategies
What type of advertising is used in PUSH strategies?
Trade advertising, aimed at motivating wholesalers and retailers to purchase products for resale.
p.18
Value Proposition Development
What is the third step in creating a value proposition?
Differentiate & position yourself.
p.14
Target Marketing and Market Segmentation
What does 'size and growth' refer to in market segment evaluation?
Market size, growth rate, and market potential.
p.19
Value Proposition Development
What is essential for a persuasive value proposition?
Offering superior points of difference that are relevant to customers.
p.21
Value Proposition Development
Why is defining a target market important in a value proposition?
It ensures the offering is well-defined for the intended audience.
p.30
Marketing Mix Decisions
What is essential for combining elements in a marketing program?
Knowing how to combine the elements effectively.
p.10
Positioning and Repositioning Strategies
What are the two basic principles of marketing warfare?
Position and Differentiate.
p.15
Target Marketing and Market Segmentation
What does 'structural attractiveness' in market segments refer to?
Number of companies, ease of entry, substitutes, and competitive position.
p.2
Integrated Marketing Communications (IMC)
How does IMC contribute to the marketing process?
By integrating various promotional tools to create a unified strategy.
p.6
Strategic Marketing Process
What does a strategic marketing plan guide?
The allocation of an organization's resources.
p.22
Slogans and Taglines in Marketing
How do slogans differ from taglines?
Slogans can focus on the product or company, while taglines focus on the essence of the company.
p.32
Push vs Pull Promotional Strategies
What are the goals of PULL strategies?
To create demand among consumers and encourage them to request the product from retailers.
p.16
Positioning and Repositioning Strategies
What is a perceptual map used for in marketing?
To visualize the positioning of different products in relation to consumer perceptions.
p.11
Competitive Analysis and Advantage
What factors should be considered when comparing competitor products?
What products competitors sell and how they compare to your products.
p.24
Slogans and Taglines in Marketing
What does a slogan encompass?
A company's mission, what it stands for, and how it helps customers.
p.20
Promotion and Advertising Management
What do the three images in Evernote's advertising represent?
Examples of what the product can do.
p.15
Target Marketing and Market Segmentation
What factors are evaluated for target marketing purposes?
Size and growth, structural attractiveness, company objectives and resources.
p.28
Positioning and Repositioning Strategies
What is Gatorade's positioning statement focused on?
Athletic performance and hydration for competitive athletes.
p.7
Strategic Marketing Process
What macro-environmental factors should be considered in a CONTEXT analysis?
Factors that will affect the organization.
p.22
Slogans and Taglines in Marketing
What does a slogan encompass?
A company's mission, what it stands for, and how it's helping customers.
p.32
Push vs Pull Promotional Strategies
What is the focus of PULL promotional strategies?
Spending on advertising and sales promotions directed toward the ultimate consumer.
p.22
Slogans and Taglines in Marketing
What is the purpose of a tagline?
To evoke an image of the brand in the minds of customers and enable lighthearted associations.
p.22
Slogans and Taglines in Marketing
Can slogans be longer than taglines?
Yes, slogans can be longer than taglines.
p.3
Target Marketing and Market Segmentation
How does market segmentation contribute to an IMC program?
It allows for tailored messaging and strategies to meet the needs of different consumer groups.
p.1
Push vs Pull Promotional Strategies
What is the focus of Promotion and Advertising Management?
The strategies and techniques used to promote products and services.
p.29
Positioning and Repositioning Strategies
What makes repositioning a product or brand difficult?
Entrenched perceptions and attitudes toward the product or brand.
p.21
Value Proposition Development
What is a key characteristic of a strong value proposition?
It has a very clear offering and benefit.
p.12
Target Marketing and Market Segmentation
How do we define our marketplace?
By identifying the characteristics and boundaries of the market.
p.5
Integrated Marketing Communications (IMC)
What is the focus of the Marketing and Promotions Process Model?
It outlines the steps involved in marketing and promotional activities.
p.26
Value Proposition Development
What does the Value Proposition explain?
How your product solves problems and improves situations.
p.28
Positioning and Repositioning Strategies
What unique endorsement does Gatorade have?
It is the only brand endorsed by all major US pro sports.
p.9
Integrated Marketing Communications (IMC)
How do complementers contribute to a firm's success?
By enhancing the value of the firm's products through complementary offerings.
p.17
Positioning and Repositioning Strategies
How do Ries and Trout define positioning?
Positioning is what you do to the mind of the prospect.
p.26
Value Proposition Development
Give an example of a slogan that is NOT a Value Proposition.
L’Oréal: 'Because we’re worth it.'
p.15
Target Marketing and Market Segmentation
What should a company assess to ensure a good fit with a market segment?
Company objectives, resources, capabilities, and competencies.
p.8
Competitive Analysis and Advantage
What is a competitive strategy according to Porter?
Strategies such as low cost (cost leadership), unique differentiation, and niche (focus).
p.8
Competitive Analysis and Advantage
What is cost leadership?
A competitive strategy focused on being the lowest cost producer in the industry.
p.8
Competitive Analysis and Advantage
What does unique differentiation refer to?
A competitive strategy that focuses on offering unique products or services.
p.14
Target Marketing and Market Segmentation
What should companies consider regarding their objectives and resources when evaluating market segments?
Company fit, capabilities, and competencies.
p.11
Competitive Analysis and Advantage
What is competitive analysis?
Analyzing the competition in the marketplace and searching for a competitive advantage.
p.11
Competitive Analysis and Advantage
What are some examples of competitive advantages?
Better quality products, superior customer service, low production costs and lower prices, dominating channels of distribution, and effective advertising.
What factors should be considered regarding the size of the marketplace?
The size of the marketplace and its growth rate.
p.21
Value Proposition Development
What is a 'booster' in the context of a value proposition?
An additional element that enhances the value proposition.
p.12
Customer Behavior and Market Definition
What aspect of customers' behavior should be described?
The behavior of customers/buyers.
p.2
Integrated Marketing Communications (IMC)
What is the primary role of IMC in marketing?
To ensure a consistent message across all marketing channels.
p.30
Value Proposition Development
What is the relationship between value proposition and marketing mix?
The marketing mix is developed from the value proposition.
p.7
Value Proposition Development
What is a key purpose of conducting a CONTEXT analysis?
To demonstrate a need or gap in the marketplace.
p.32
Push vs Pull Promotional Strategies
What is the primary goal of PUSH promotional strategies?
To push the product through distribution channels by selling and promoting it.
p.18
Value Proposition Development
What is the second step in creating a value proposition?
Link benefits to value offering.
p.7
Customer Behavior and Market Definition
What prevailing conditions should be analyzed in a CONTEXT analysis?
Economic conditions affecting the nation or world.
p.15
Target Marketing and Market Segmentation
What is an important cost consideration when targeting a market segment?
Cost of reaching the segment.
p.14
Target Marketing and Market Segmentation
What factors contribute to the structural attractiveness of a market segment?
Number of companies, ease of entry, substitutes, and competitive position.
p.3
Target Marketing and Market Segmentation
What is target marketing?
The process of identifying and focusing on specific groups of consumers.
p.8
Competitive Analysis and Advantage
What is a core competency?
A defining capability or advantage that distinguishes a company from its competitors.
p.11
Competitive Analysis and Advantage
Why do consumers purchase the products of competitors?
Due to various factors including product quality, price, and customer service.
p.8
Business Model Development
What does a business model describe?
How the company makes money, including components, product/service offerings, costs, prices, revenues, and margins.
p.27
Positioning and Repositioning Strategies
What does the 'point of difference' in a positioning statement refer to?
It highlights what makes the brand unique compared to competitors.
p.15
Target Marketing and Market Segmentation
What is a perceptual map used for in target marketing?
To visualize the positioning of different market segments.
p.7
Strategic Marketing Process
What regulatory aspects should be examined in a CONTEXT analysis?
Regulatory philosophies, trends, and legislation affecting society.
p.7
Strategic Marketing Process
What technological influences should be considered in strategic decision making?
Technological forces likely to influence decisions.
p.18
Value Proposition Development
What should be made clear in a value proposition?
Who your target customer is, what you offer to them, and how you are different.
p.3
Marketing Mix Decisions
What marketing-mix decisions influence advertising and promotional strategy?
Decisions related to product, price, place, and promotion.
p.16
Positioning and Repositioning Strategies
What does positioning refer to in marketing?
The place that a product occupies in a customer's mind.
p.18
Value Proposition Development
What is the first step in creating a value proposition?
Identify customer benefits.
p.8
Business Model Development
What are the components of a business model?
Components/structures, product/service offerings, costs/expenses, prices/revenues/margins.
p.16
Positioning and Repositioning Strategies
What is one approach to positioning that focuses on the consumer?
Linking the product with the benefits the consumer will derive.
p.16
Positioning and Repositioning Strategies
What is the competitive approach to positioning?
Positioning the product by comparing the benefits it offers versus the competition.
p.8
Competitive Analysis and Advantage
What is a niche strategy?
A competitive strategy that targets a specific market segment.
p.26
Value Proposition Development
What is an example of a positioning statement that is NOT a Value Proposition?
'The #1 retargeting platform' (AdRoll).
p.14
Target Marketing and Market Segmentation
What are the key factors to evaluate market segments for target marketing?
Size and growth, structural attractiveness, company objectives and resources.
p.18
Value Proposition Development
What should you list when creating a value proposition?
All benefits your product offers to customers.
p.6
Strategic Marketing Process
What does a strategic marketing plan guide besides resource allocation?
Specific marketing programs and policies.
p.22
Slogans and Taglines in Marketing
What kind of associations do taglines create?
Lighthearted associations with the business.
p.14
Target Marketing and Market Segmentation
What does NBTC stand for in lifestyle segmentation?
National Brand Targeting Classification (assumed based on context).
p.11
Competitive Analysis and Advantage
What is the significance of understanding relative market shares?
It helps in assessing the competitive landscape and positioning within the market.
p.6
Strategic Marketing Process
From what does a strategic marketing plan evolve?
An organization's overall corporate strategy.
p.6
Strategic Marketing Process
What understanding does a strategic marketing plan provide?
Market opportunities, competition, and market segments.
p.3
Integrated Marketing Communications (IMC)
What is the role of advertising and promotion in an organization's integrated marketing program?
To effectively communicate the value of products and services to target audiences.
p.14
Target Marketing and Market Segmentation
What is the significance of 'cost of reaching the segment' in market evaluation?
It impacts the feasibility and effectiveness of targeting that segment.
p.3
Positioning and Repositioning Strategies
What are positioning and repositioning strategies?
Techniques used to establish a brand's identity in the minds of consumers and adjust it as needed.
p.11
Competitive Analysis and Advantage
Why is it important to identify major players in the industry?
To understand the nature of competition and the alternatives customers can choose.
p.18
Value Proposition Development
What should you identify regarding your products in a value proposition?
What value your products bring to the customer.
p.8
Competitive Analysis and Advantage
What is competitive advantage?
The attributes that allow a company to outperform its competitors.
p.11
Competitive Analysis and Advantage
What is a competitive advantage?
Attributes that give a firm an edge over competitors.
