Marketing Exam 4 Study Guide
Marketing Exam 4 Study Guide Mkt 3010-001
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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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