General Electric Model
measure market attractiveness and business strength
cost leadership
According to Porter, _______ refers to producing goods and services for efficiently than the competition.
According to Porter, _______ is an attempt to distinguish one’s products as unique in the industry.
A company’s whose mantra is, “We do one thing very well” is probably pursuing which of the following strategies?
operational excellence
A package delivery company or a cell phone company wouldn’t go far if they could not deliver products smoothly and reliably. This means that ______ is necessary for these industries.
Product Leadership
When high-tech and electronics companies churn out new products constantly, it demonstrates that they are competing for ______.
being a leader
*Which is not one of the four classes of goals?
Delight customers
Imagine your boss wants you to investigate ways your company might be able to enhance customer satisfaction, create an attractive loyalty program, and reward your customers. Most likely, the company’s immediate goal is to _____.
do nothing, do nothing different from status quo, do something different
*Bill advises Mary that there are essentially three strategies to achieving goals. Assuming Bill is correct, how would he describe these three strategies?
doing nothing different
Company ABC has a mature brand in a stable market, so managers maintain business as usual-same price, same marketing support, etc. What strategy are they using?
Return on marketing
What does ROM stand for?
If we are assessing the macro-environmental issues we must attend to, such as legal, technical, and social changes, then we are considering our ______.
What are we known for?” is a question about which of the 5Cs?
Bob is writing a marketing plan and is considering the relationship his company has with distribution channel members. Which of the 5Cs is he thinking about?
Company ABC’s is consulting an economist to help them understand the economic climate as it affects their business. They are considering which of the 5Cs?
4 P’s
??40. What is product positioning done through?
Segmentation should be based on..
______ involves understanding the differences among current customers, non-users, and ideal customers.
In ______, we need to choose segments that are big enough to pursue.
market skimming
Good Stuff, Inc. sets high price for its products and seeks profit margin, not volume. Good Stuff’s marketing plan should identify which of the following strategies?
travel and hobbies
Gary is writing about targeting in his marketing plan, and states that empty nesters are an important segment for his company. His company probably has to do with which of the following?
??46. Jenna’s beauty salon is thinking about offering occasional discounts for regular customers. They are considering which of the 4Ps?
Camille has started a photography business and is trying to decide between working toward mass exposure or a more exclusive appeal. She is thinking about which of the 4Ps?
Deciding on your ideal distribution system relates to which of the 4Ps?
As we consider the 4Ps as they relate to our marketing plan, we should remember that _____ is the easiest one to change.
works in progress
Marketing plans are often viewed as ______.
The General Electric Model
** 24. Which of the following measures the dimensions of market attractiveness and business strength?
A company most wants to optimize the number of its…
question mark
Brand X is not performing well (i.e. low market share) in a high growth industry. Brand X is a ________.
cash cow
When a brand has strong market share in an industry that is not experiencing a high rate of growth, it is best referred to as a ________.
Apple’s iPod brand has a relatively large share in a growing market, and thus is best classified as a ________.
A brand with small share in a market that is not growing is called a _________.
market development
**18. Which strategy in the Ansoff product-market growth matrix combines new markets and current products?
market penetration
** 17.Which strategy in the Ansoff Product-Market Growth Matrix combines current markets and current products?
decrease variable costs
Looking for suppliers who are cheaper than our current ones but still high quality is an example of a way ________.
attitude towards the brand
There are two basic attitudes that marketers measure in evaluating ads. The first is attitude towards the ad. What is the second?
copy testing
??14. What term is used to describe an experiment run by an ad agency where the ad agency will recruit consumers to come watch a TV series and commercials? The consumer will then answer questions about the ads and the agency use the responses to determine how well the ads will do in the real world.
affective goals
??13. _________ are tested with numerous measures of attitudes and behavioral intentions.
mere exposure
The idea that familiarity from repeated exposure to a brand name, logo or ad will over time enhance the viewer’s favorability toward the ad (and brand) refers to which term?
Memory is the primary consideration for measuring _______ results.
launch a comparative ad
If a competitor starts a price war, what should the company do?
If a company is trying to create positive attitudes and awareness about a brand extension, they should use what type of ad?
Which of the following ad types does NOT trigger emotional responses?
?? number 8
types of ads
sleeper effect
_______ is when a piece of information is conveyed by any type of source, expert or not.
comparative ad
In a(n) ________, the featured brand name is mentioned, as is the brand name of a competitor.
not easily achieved
The goal of getting the consumer to purchase is ________.
Which of the following is NOT a way marketers wish to affect consumers in advertising?
cognition, affect, and behavior
ways marketers wish to affect customers in advertising?
AIDA represents attention, interest, desire and…
an ad with lots on information
If the advertising goal is to increase awareness, what type of ad should be run?
What is the primary means by which any company communicates to its customers about its products?
increasing awareness and knowledge about our brand. early in the product life cycle.
affect (emotions)
enhancing attitudes and positive associations about our brand. when the brand is growing.
ultimately encouraging more buying of our brand. at brand maturity
Attention- do customers know about us?
Interest- would customers consider us?
Desire- Do customers want us and look for us?
Action- Do customers buy us, talk and post about us?
ELM (elaboration likelikhood model)
There’s two ways into your brain: a central path or a peripheral path
sleeper effect
a piece of information is conveyed by some source; celebrity, friend, an expert, something you read, etc.
straight forward, one sided, non comparative
what kind of ad would you use to increase awareness and create positive attitudes and buzz about brand extension need to express the new features and benefits clearly?
emotional appeal
reminder ads to reinforce its target customers attitudes might use ___
in a focus group
concept testing is usually done..
via surveys
copy testing is usually conducted