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Marketing Exam 4 Study Guide

by: Hannah Stephens

Marketing Exam 4 Study Guide Mkt 3010-001

Marketplace > Clemson University > Marketing > Mkt 3010-001 > Marketing Exam 4 Study Guide
Hannah Stephens

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These notes cover what will be on the exam.
Principles of Marketing
Carter Willis McElveen
Study Guide
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This 3 page Study Guide was uploaded by Hannah Stephens on Monday April 18, 2016. The Study Guide belongs to Mkt 3010-001 at Clemson University taught by Carter Willis McElveen in Spring 2016. Since its upload, it has received 70 views. For similar materials see Principles of Marketing in Marketing at Clemson University.

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Date Created: 04/18/16
Marketing  Exam  4  Study  Guide     • Advertising   • Sales  promotion   • Informative,  Persuasive,  remind   • PSA   • Deference  between  institutional  and  product  focus  ads   • Flighting,  continuous,  pulsing  advertising  schedule   • Puffery   • Coupons,  steals▯sales  promotions  in  book   • All  elements  of  IMC  strategy   • Informative/persuasive/additive   • Customer  relationship  management   • Costco▯  3  largest  retailer   • Different  kinds  of  stores▯  related  to  merchandise   • P.  35:  full  on  discount  store  (i.e.  Wal-­‐Mart  without  food),  extreme  value   (dollar  general)   • Selective  Distribution:  sold  in  multiple  department  stores  but  not   everywhere;  between  exclusive  and  intensive   • Category  Killer/Specialist  ▯  discount  with  narrow  but  deep  assortment   • Extreme  Value▯  full  line,  limited,  very  low  prices  (dollar  general,  family   dollar)   • Off-­‐Price▯  Inconsistent  assortment  of  brand  name  at  low  prices  (TJ  Maxx,   Marshalls)   • Paco  Underhill   o Butt  Brush  Theory▯  Female  shoppers   o Humans  walk  the  way  they  drive▯  most  expensive  items  to  right  of   store   o Average  amount  of  time  spent  in  the  store▯men  spend  less  time  than   women   o Dad’s  in  stores▯desperate  to  get  out  so  grocery  stores  put  items  at   kids  level  because  dads  will  buy  whatever  kids  want   o Subtle  ways  of  appeal  to  the  sexes   ▯ Men  buy  a  whole  outfit  and  buy  together,  women  mix  and   match   ▯ Destination  items  deep  in  the  store   • Ex.  Gap  Denim   • Grocery  store  secrets   • Science  of  spending   1. You  move  in  a  predictable  pattern   2. You  can’t  resist  shiny  things   3. Shopping  gets  you  high   4. You  can’t  comprehend  numbers   5. Your  tastes  can  be  tricked  by  brand  recognition   • Benefits  of  the  internet   • What  is  IMC?   o Coordination  of  all  your  promotional  messages,  so  customers  see  the   same  thing   • If  your  restaurant  has  the  best  coffee▯puffery   • Lag  effect   • 3  effects  of  advertising▯  inform,  persuade,  remind   • What’s  communicated  by  advertising,  unique  to  brand…-­‐▯  Unique  selling   proposition   • Advertisement  that  offers  facts  and  key  benefits▯  informational     • Billy  stays  connected  to  his  phone,  rarely  looks  at  newspaper▯marketer   uses  e-­‐commerce   • Advantages  of  salespeople   • “Take  a  sip  of  anti-­‐oxidant  protection”-­‐health   • Scrambled  merchandising     • Have  a  product  and  try  to  get  it  in  hands  of  as  many  customers  as   possible▯intensive   • Advantages  of  shopping  in  a  store   • Multi-­‐channel  strategy   • Supports  promotional  efforts▯Public  relations   • Admiration  appeal▯celebrity   • Why  use  an  off-­‐price  retailer?   • Crisis  Management   • Steps  of  advertising  process   • “We’re  GE  and  we  bring  good  things  to  life”  ▯Institutional     • Personal  selling  process   • Qualifying  Leads▯  trying  to  determine  whether  customer  is  worth  while  or   not   • Definitions  in  Book   • When  choosing  retail  partners   o Have  to  consider  channel  structure  and  customer  expectations   • Distribution  intensity   1. Intensive—want  to  be  everywhere   2. Exclusive—place  your  goods  in  a  few  stores   3. Selective—in  the  middle  but  closer  to  exclusive  (e.g.  Nike)   products  are  not  everywhere  but  only  in  a  few  stores     • Effective  Multichannel  Marketing   o Integrated  CRM   o Brand  image   o Pricing     o Supply  chain   • CRM▯  Customer  Relationship  Management   o Database  of  customers    


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