Marketing #2

To become leaders in the world market, countries need related and supporting industries because
clusters of strong suppliers can accelerate innovation.
Four trends in the past decade have significantly influenced the landscape of global marketing. One of them is:
-a gradual decline in economic protectionism by individual countries.
-global competition among global companies for global customers.
-emergence of networked global marketspace.
The practice of shielding one or more sectors of a country’s economy from foreign competition through the use of tariffs or quotas is referred to as
protectionism
According to economists, protectionism
protects a nation’s political security.
Those in favor of protectionism advocate that protectionism
encourages the development of domestic industries.
Beginning January 1, 2005, China lifted the import quotas and lowered tariffs on automobiles. This removal of the quotas and the lowering of tariffs is an example of
reducing protectionism.
Which of the following issues raises concerns about the ethics of protectionism?
Regional trade agreements provide preferential treatment for member nations.
Which of the following statements accurately describes the global perspective on world trade?
Imports and exports should be complementary economic flows: a country’s imports affect its exports
and exports affect its imports.
Government taxes on goods or services entering a country that primarily serve to raise prices on imports are referred to as
tariffs
Tariffs refer to
government taxes on goods or services entering a country that primarily serve to raise prices on
imports.
The U.S. Rice Millers’ Association claims that if the Japanese rice market were opened to imports by lowering _________, lower prices would save Japanese consumers $6 billion annually and the U.S. would gain a large share of the Japanese rice market.
tariffs
U.S. citizens pay $5 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of the products because
both these countries have imposed tariffs on these goods to protect their domestic markets.
Recently, the Japanese government, under pressure from its domestic farm lobby, slapped government taxes on mushrooms, leeks, and the reeds used in tatami mats that were being imported from China. Japan levied
tariffs
The world’s largest manufacturer of peppermint candy canes was in Albany, Georgia until it could no longer afford to buy the sugar needed for its operation. It moved its manufacturing business to Mexico where there are no restrictions (as existed in the U.S.) on the amount of sugar that can be brought into the nation. The movement of this U.S. business to Mexico was caused by a(n) __________ established by the U.S. government.
quota
The __________ is an international treaty intended to limit trade barriers and promote world trade through the reduction of tariffs.
North American Free Trade Agreement (NAFTA)
The EU has benefited its member nations because firms do not need to market their products and services on a nation-by-nation basis; most tariffs that affect pricing practices have been removed, and
there are fewer regulatory restrictions on transportation, advertising, and promotion.
The North American Free Trade Agreement was designed to encourage free trade between
the United States, Canada, and Mexico.
Indirect exporting occurs when a firm sells its domestically produced goods in a foreign country
through an intermediary.
The U.S. motorcycle manufacturer Harley-Davidson uses intermediaries to sell its motorcycles in numerous nations outside the U.S. Harley-Davidson uses
indirect exporting.
When a U.S. airplane manufacturer sells its airplanes to business executives in Germany without using intermediaries, it is referred to as
direct exporting.
Offering the right to a trademark, patent, trade secret, or similarly valued items of intellectual property in return for a royalty or fee is referred to as
licensing.
A form of low risk and capital-free entry into international markets that includes local manufacturing and local assembly is referred to as
licensing.
Which of the following is an advantage inherent in the use of licensing?
-The licensee gains information about the dynamics of the market.
-The foreign country gains employment.
Which of the following is a disadvantage associated with licensing?
The licensor may create its own competition.
Which form of entry into a global market makes a firm the most vulnerable to harm regarding its brand name or reputation?
licensing
Two variations on licensing are
contract manufacturing and contract assembly.
Contract manufacturing refers to
contracting with a foreign firm to manufacture products according to stated specifications.
Companies that contract with a foreign firm to manufacture products according to stated specifications are using
contract manufacturing.
New Balance Athletic Shoes, Inc. claimed its shoes were “made in the USA” when actually the shoe soles and most of the uppers were made in China. The shoes were assembled in the U.S. The Federal Trade Commission did not think that assembling the shoes in the U.S. was enough to use the “made in the USA” logo. New Balance actually used
contract manufacturing.
Contracting with a foreign firm to assemble parts and components that have been shipped to that country is referred to as
contract assembly.
Tricon was the restaurant division of PepsiCo until it was spun off in 1997. Since then Tricon has opened 6,000 KFC restaurants abroad. It has 158 in Indonesia and more than 500 restaurants in China. All are locally owned, and the owner pays a fee to Tricon. Tricon is engaged in
franchising
A permanent institution that sets rules governing trade between its members through a panel of trade experts who decide on trade disputes between members and issue binding decisions is referred to as the _________.
WTO
There are __________ World Trade Organization countries, including the United States, which account for more than 90 percent of world trade.
153
Which of the following statements about the World Trade Organization (WTO) is most accurate?
-The WTO is a permanent institution that sets rules governing trade between its members.
-The WTO uses panels of trade experts who can issue binding decisions.
-The WTO sets rules governing trade among its members.
-The WTO was formed by the major industrialized nations of the world.
Although there are many factors contributing to the success of major global marketers, a common theme seems to be that they
first succeeded in intense domestic competition.
Agreements between two or more independent firms to cooperate for the purpose of achieving common are referred to as
strategic alliances.
A situation where products are bought in a lower-priced country from a manufacturer’s authorized reseller, shipped to higher-priced countries, and then sold through unauthorized retailers below the manufacturer’s suggested retail price is referred to as _________.
a gray market
Personally or socially preferable modes of conduct or states of existence that tend to persist over time are referred to as _________.
values
The reverence that Japan shows towards its elderly is an example of the nation’s _________.
values
Which of the following examples best demonstrates a company’s appreciation of another country’s values?
McDonald’s restaurants in India serve a full line of products except for hamburgers made from beef.
Which of the following examples best demonstrates a company’s appreciation for another country’s values?
Calvin Klein reduced the number of outdoor advertising placements showing scantily clad models in . countries with predominantly Muslim populations.
What are considered normal and expected about the way people do things in a specific country are referred to as _________.
customs
3M Company executives were perplexed when the company’s Scotch-Brite floor-cleaning product initially produced lukewarm sales in the Philippines. A Filipino employee explained that consumers generally clean floors by pushing coconut shells around with their feet. 3M changed the shape of the pad to a foot and sales soared. 3M changed its product in response to a Filipino _________.
custom
KFC in Japan sells tempura crispy strips. In northern England, it stresses gravy and potatoes. In Thailand, it offers fresh rice. In Holland instead of potatoes, KFC offers customers a potato and onion croquette.
In France, KFC sells pastries alongside its chicken. These examples illustrate that KFC exhibits an understanding of and appreciation for the __________ of other societies.
customs
Cultural symbols are things that
represent ideas and concepts
The representations of ideas and concepts to which different cultures often attach different meanings are referred to as
cultural symbols
By adroitly using _________, global marketers can tie positive symbolism to their products, services, and brands to enhance their attractiveness to consumers.
cultural symbols
Tiffany & Company knows that Japanese are superstitious about the number 4. As a result, Tiffany sells its fine glassware and china in sets of five, not four, in Japan. Tiffany has used its knowledge of __________ to avoid connecting its products with the number 4.
cultural symbols
The practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors is referred to as
back translation
A multidomestic marketing strategy refers to
the strategy used by firms that have as many different product variations, brand names, and advertising . programs as countries in which they do business.
U.S. appliance manufacturers find that different customs about shopping must be used to determine product design. For instance, people in Northern Europe shop only once a week, so they need bigger refrigerators than Southern Europeans, who shop daily. Furthermore, Northern Europeans insist that freezers should be on the top just as loudly as Southern Europeans insist that freezers should be on the bottom. Consumers in other regions use their appliances differently and have other different product demands. Given this information, you should conclude U.S. appliance manufacturers would be more likely successful if they used a(n) __________ marketing strategy.
multidomestic
A(n) __________ firm views the world as one market and emphasizes cultural similarities across countries or universal consumer needs and wants more than differences.
transnational
The strategy of transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when cultures differ is referred to as a(n)
global marketing strategy.
A global marketing strategy refers to
he strategy of transnational firms that employ the practice of standardizing marketing activities when
. there are cultural similarities and adapting them when cultures differ.
Which of the following types of firms would be most likely to use a global marketing strategy?
transnational
A global brand is a brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs. However, adaptations of global brands are made
only when necessary to better connect the brand to consumers in different markets.
Which of the following statements about the emergence of a networked global marketspace is most accurate?
The chief advantage of the global marketspace over the traditional bricks-and-mortar stores for . customers is the ability to shop anywhere, at any time, and at the lower cost.
Global companies have five strategies for matching products and their promotion efforts to global markets. The strategy of selling virtually the same product in other countries is referred to as
product extension
Global companies have five strategies for matching products and their promotion efforts to global markets. Designing a product to serve the unmet needs of a foreign nation is which type of product strategy?
product invention
Global companies have five strategies for matching products and their promotion efforts to global markets. Nescafé coffee is marketed using different coffee blends and promotional campaigns to match consumer preferences in different countries. For example, Nescafé generally emphasizes the taste, aroma, and warmth of shared moments in its advertising around the world. However, in Thailand, Nescafé is advertised as a way to relax from the pressures of daily life. This is an example of which type of global product strategy?
dual adaptation
Field of Dreams and Million Dollar Baby are examples of successful movies that could have failed because
their original titles did not convey the correct message to their prospective audiences.
Filmmakers want movie titles that use basically the same factors that make a good brand name. They must _________.
-have no legal restriction
-concise
-capture the essence of film
Movie studios use market research to reduce their risk of losses by hiring firms like the National Research Group to conduct test screenings and tracking studies. Often, 300 to 400 prospective moviegoers are recruited to attend a “sneak preview” of a film before its release. After viewing the movie, the audience fills out an exhaustive survey to
critique the title, plot, and characters.
The primary purpose of a “sneak preview” of a film prior to its release is to
identify specific changes that may need to be made prior to final editing and release to increase the
film’s likelihood of success.
Marketing researchers use tracking studies immediately before an upcoming film’s release to
forecast a movie’s opening week’s box office revenues.
The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions is referred to as _________.
marketing research
Grape-Nuts was one of the first cereals Post Cereal Company ever marketed. It scores well in brand awareness, but recently its sales have been steadily declining. Rather than assume the product was a “dog,” the Grape-Nuts marketing manager decided Post should first
do marketing research to identify what needs were not being satisfied
Members of the Book Promoters Association of Canada recently questioned what could be done to rejuvenate the Canadian book publishing industry. Some members claimed the problem was Canadian bookstores had been replaced by Walmarts. Others said the problem was with stodgy promotions. Still others said the problem was caused by too little money being budgeted to fund marketing programs. The best way to identify the problem would be to use _________.
marketing research
Which of the following statements concerning the marketing research approach is most accurate?
When collecting marketing research, people may or may not be willing to tell you what you want to . know if it is potentially embarrassing.
In marketing, a conscious choice made from among two or more alternatives is referred to as
a decision
The first step of the marketing research approach is _________.
define the problem
Setting research objectives and identifying possible marketing actions would take place during which stage in the five-step marketing research approach?
define the problem
Specifying constraints, identifying data needed for marketing actions, and determining how to collect data would take place during which stage in the five-step marketing research approach?
develop the research plan
Obtaining primary and secondary data would take place during which stage of the five-step marketing research approach?
collect relevant information
Analyzing data and presenting findings would take place during which stage of the five-step marketing research approach?
develop findings
Watch was a teen publication given out free to high school students, but the publication was unable to deliver the response rates to coupons or sample offers that its advertisers expected. After defining the problem, its publisher developed a research plan, gathered information from teen focus groups, analyzed the findings, and replaced Watch magazine with Fuel for boys and Verve for girls. How would a marketer judge the publisher’s actions?
It took a systematic approach to analyzing the problem and responded to its advertisers’ concerns.
Several years ago, SwissAir made some unwise investments to pay for a planned expansion. As a result, the company had to make some cost-cutting moves that alienated its customers. Eventually, the company declared bankruptcy, regrouped, and found itself able to resume business. Its board of directors recently announced that the company would resume flying if it could prove that the airlines could regain at least
75 percent of its lost customers. It decided to allocate $50,000 to determine the likelihood that its former customers would fly on the airline again and what methods requiring little or no money could be used to increase that probability. This description represents which stage in the marketing research approach?
define the problem
During the marketing research process, __________ are the specific, measurable goals the decision maker seeks to achieve in conducting the marketing research.
research objectives
The retail mall owner told the marketing researcher, “We have the option of staying open late twice a week or opening up an hour early every day. We need to know which will be most profitable since we cannot do both. The decision must be made in 11 weeks and we only have $10,000 budgeted for this research project.” In which stage of the marketing research process would this statement have been made?
develop the research plan
Penningtons Superstore specializes in plus-size fashions for women. It thought it recognized a marketing opportunity in plus-size junior clothes and was considering adding a line of teen plus-sizes to its 117 stores. Before doing so, it contracted with a marketing research firm to make sure that the teen plus-
size market was a viable one. It told the research company it needed to have the results of its study by September 15 so it could introduce the line in the following March if the market was viable. The major constraint for the marketing research firm in this scenario would be _________.
meeting the time deadline
The approaches that can be used to collect data to solve all or part of a marketing research problem are referred to as
methods
Two special methods vital to marketing are __________ and _________.
sampling; statistical inference
The method of __________ involves drawing conclusions about a population from a sample taken from that population.
statistical inference
The facts and figures related to the problem are referred to as _________
statistics
Facts and figures that have already been recorded before the project at hand are referred to as
secondary data
Facts and figures that are newly collected for a project at hand are referred to as
primary data
Observing people and asking them questions are the two principal ways to obtain
primary data
Red Carpet Baby!, a children’s accessory and toy store, uses U.S. Census Bureau information to determine the number of families with children under age 5 in its market area. Data obtained from this source is called _________.
secondary data
When a marketing researcher uses a collection of reports, customer letters, financial statements, and surveys from different departments within her firm, she is using
internal secondary data
Published data from outside the organization are referred to as __________ data.
external secondary
When Karsh & Hagan Advertising Agency uses information found in Nielsen Television Index Ranking Report, published by the A.C. Nielsen Company, to plan television advertising schedules for its clients, it is relying on __________ data.
external secondary
According to research conducted by Canadian cultural anthropologists, Canadians place a high importance on personal relationships. This leads them to be extremely reluctant to buy through an impersonal medium like a telephone. For an insurance company that was hoping to sell insurance through telemarketers, this research would be an example of
external secondary data.
A survey by the Economic Research Service of the U.S. Department of Agriculture, government statistics from the Department of Commerce, stock market information from The Wall Street Journal would all be examples of
external secondary
A general rule of thumb among marketing researchers is to use __________ first and then collect ________.
secondary; primary
Two important advantages of secondary data are __________ and _________.
usually inexpensive; saves time.
The Belsen interview is a means of pretesting media surveys. It gathers facts and figures by asking people about their attitudes, beliefs, and awareness of various media. With this technique, the respondent is interviewed twice—first by an interviewer using the proposed survey and then by a different interviewer, who asks questions about the survey itself. The Belsen interview uses __________ data.
questionnaire
In _________, the marketing researcher tries to test ideas discovered earlier to help the marketing manager recommend marketing actions.
idea evaluation
The __________ method has two advantages over other traditional methods of data collection: the cost is relatively minimal and the turnaround time for data collection to report presentation is much quicker.
online surveys
A disadvantage of the mall intercept interview method is
the people selected may not be representative of the targeted consumers.
A(n) __________ question allows respondents to express opinions, ideas, or behaviors in their own words without being forced to choose among alternatives that have been predetermined by a marketing researcher.
open-ended
A fixed alternative question requires respondents to select one or more response option from the set of predetermined choices. This kind of question is also called a:
closed-ended
A(n) __________ scale is a five-point scale in which the opposite ends have one- or two-word adjectives that have opposite meanings.
semantic differential
A(n) __________ scale is one in which the respondent indicates the extent to which he or she agrees or disagrees with a statement.
likert
A sample of consumers or stores from which researchers take a series of measurements is referred to as a(n)
panel
An advantage of using a panel for marketing research is
he company can find out if consumers change their purchasing behavior over time.
A disadvantage of a __________ is that the marketing research firm needs to recruit new members continually to replace those who drop out.
panel
Data obtained by manipulating factors under tightly controlled conditions to test cause and effect is an example of
experiment
In marketing experiments, the independent variable is the __________ and the dependent variable is the _________.
cause of an action; result of an action
Eppie’s Used Cars wanted to discover whether straight price discounting worked better than a free gift. It ran two different television commercials on alternate Wednesdays. Commercial A offered 20 percent off Blue Book price for any 4-wheel-drive vehicle on the lot while Commercial B offered a free tent with the purchase of any 4-wheel-drive vehicle at Blue Book price. The offer was the __________ variable. How many people responded to each type of offer is called the _________, and would suggest whether straight discounting or a gift incentive was the better strategy for increasing traffic.
independent; dependent variable
Offering a product for sale in a small geographic area to help evaluate potential market actions is called a(n) _________.
test market
A potential difficulty with a test market is that outside factors, such as actions of competitors, can distort the results by affecting _________, such as sales.
dependent variables
The final step in the five-step marketing research approach includes making action recommendations, implementing action recommendations, and _________.
monitor how the decisions work turn out
The Apple II, Macintosh, iPod, MacBook Air, and iPhone 3GS are all examples of a company’s commitment to _________.
continuous innovation
Mr. Clean is an antibacterial cleaning liquid for home use. If Proctor and Gamble (P&G), the manufacturer of Mr. Clean, added Mr. Clean Magic Eraser Bath Scrubber to the Mr. Clean product line, it would be
viewed as new product from the company’s perspective because it is a product line extension
Which of the following new products is the best example of the lowest level of risk from the company’s point of view?
adding Chocolate Cheerios in addition to traditional Cheerios
The terms continuous innovation, dynamically continuous innovation, and discontinuous innovation, are classifications based on
degree of learning required by the consumer.
A product that requires no new behaviors be learned by consumers is a
continuous innovation.
At the time of its introduction, which of the following products was the best example of a continuous innovation?
disposable lighter
A product that disrupts consumers’ normal routines but does not require totally new learning is a
dynamically continuous innovation.
The emphasis of a marketing strategy for a dynamically continuous innovation would include
advertising to explain points of difference and benefits.
A product that establishes new consumption patterns among consumers is a
discontinuous innovation
Which of the following products at the time of its introduction was the best example of a discontinuous innovation?
A. DVD player
B. disposable lighters
C. automatic dishwashers D. liquid laundry detergent E. instant light charcoal
automatic dishwasher
In the early 1900s, your great-grandfather probably purchased his first automobile. After years of driving a horse and buggy, he got in his new car and drove it into his new garage. The new automobile was an example of a
discontinuous innovation.
The emphasis of a marketing strategy for a discontinuous innovation would most likely be to
educate consumers about entirely new consumption patterns through product trial and personal selling.
New product failures may be avoided if the company developing the new product has
a precise protocol.
Ideally, before a new product is developed, a firm should have a precise protocol, which is a statement that identifies: (1) a well-defined target market; (2) specific customers’ needs, wants, and preferences; and (3)
what the product will be and can do.
One of the eight primary marketing reasons for new-product failure is _________.
no economical access to buyers
One of the eight primary marketing reasons for new-product failure is _________.
-not satisfying customers on critical factors
-incomplete market and product protocol
-bad timing
-there is too little market attractiveness
-poor product quality
-poor execution of the marketing mix
-no economical access to buyers
When General Mills introduced Fingos, a corn chip-sized sweetened cereal flake, it assumed that its customers would normally snack on them dry like a potato chip. Unfortunately, consumers did not switch from munching on popcorn and potato chips. The primary reason for the failure of Fingos was _________.
an insignificant point of difference relative competing snacks—consumers wouldn’t switch from eating competing snacks
Kimberly-Clark developed its Avert Virucidal tissues that contained vitamin C derivatives, which were scientifically designed to kill cold and flu germs when users sneezed, coughed, or blew their noses into them. Unfortunately, people didn’t believe the claim and were frightened by the “-cidal” in the brand name. The reason for this product failure was
incomplete market and product protocol.
Until 1996, U.S. carmakers sent very few right-hand-drive cars to Japan while German car makers exported several models with the steering wheel on the right to accommodate the way the Japanese drive their cars are. American car manufacturers could blame their failure to a great degree on
not satisfying customer needs on critical factors
One reason new products fail is that product managers may believe they “know better” than their customers or feel that
they “can’t afford” marketing research to uncover potential new-product problems.
The stage of the new-product process that develops a pool of concepts as candidates for new-products is referred to as _________.
idea generation
Many forward-looking companies have discovered that their own organization does not generate enough useful new-product ideas. This has caused them to find new product ideas by developing strategic relationships with outside individuals and organizations. This practice is referred to as _________.
open innovation
Marketing dashboards are useful in measuring actual market performance versus the goals set in new- product planning, such as sales. Once shortfalls are identified, the first step market research would take would be to determine ____________.
whether the problem is internal or external to the organization
The stage of the new-product process that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort is referred to as _________.
screening and evaluation
A concept test is an
external evaluation with consumers that consists of preliminary testing of a new-product idea rather
than the actual product.
Idea generation refers to
the stage of the new-product process that develops a pool of concepts as candidates for new-products.
Marketers pay slotting fees to grocers in payment for space—or slots—on their retail shelves. Such slotting fees significantly increase the cost of which stage of the new-product process?
commercialization
All of the following are independent variables a market researcher may use in a marketing experiment EXCEPT:
product color.
distribution outlet.
price.
free samples.
unit sales
unit sales

In marketing experiments, the independent variables of interest—sometimes called the marketing drivers—are often one or more of the marketing mix elements, such as a product’s features, price, or promotion (like advertising messages or coupons). The ideal dependent variable usually is a change in the purchases (incremental unit or dollar sales) of individuals, households, or organizations.

Two special methods vital to marketing researchers are __________ and __________.
Sampling and statistical inference are defined as special methods vital to marketing. Sampling is a technique to select a group of distributors, customers, or prospects and treating the information they provide as typical of all those in whom they are interested. Statistical inference is then used to generalize the results from the sample to much larger groups of distributors, customers, or prospects to help decide on marketing actions.
When a marketing researcher uses a collection of reports, customer letters, financial statements, and surveys from different departments within her firm, she is using
Internal secondary data have already been collected that exist inside an organization and serves as the starting point for a new marketing research study because using this information can result in huge time and cost savings for the organization.
Representatives from Kraft spent several months with consumers in their kitchens, attempting to understand what they wanted in ready-to-serve meals prior to the launch of Kraft Deli Creations. The observational approach Kraft used is called __________ research.
ethnographic
In marketing research, the research objectives are the __________ goals of the decision maker.
specific and measurable
Which of the following is the best example of a specialty product?
Ferretti yacht
here are eight marketing reasons why a new product can fail.
There are eight main marketing reasons a new product can fail: (1) insignificant point of difference; (2) no economical access to buyers; (3) incomplete market and product protocol before product development starts; (4) not satisfying customers on critical factors; (5) bad timing; (6) poor product quality; (7) too little market attractiveness; and (8) poor execution of the marketing mix.
Which of the following products at the time of their introduction was the best example of a continuous innovation?
automatic dishwasher
pocket calculator
personal computer
cigarette lighter
correct Blu-Ray player
A continuous innovation requires no changes in behavior to use the product. Since a Blu-Ray player is very similar to a DVD player, it is an example of a continuous innovation. All of the other products were examples of discontinuous innovations at the time of their launch.
Ideally, before a new product is developed, a firm should have a precise protocol, which is a statement that identifies: (1) what the product will be and do to satisfy consumers; (2) specific customers’ needs, wants, and preferences; and (3) __________.
Ideally, before a new product is developed, a firm should have a precise protocol, a statement that identifies: (1) a well-defined target market; (2) specific customers’ needs, wants, and preferences; and (3) what the product will be and do to satisfy customers.
An extended introduction stage of the product life cycle occurs for which type of product?
A high learning product is one for which significant education of the customer is required, which results in an extended introductory stage of the product life cycle.
All products sold by the Tabasco Company use the Tabasco brand. This is an example of __________
With multiproduct branding, a company uses one name for all of its products.
What is the promotional objective of the decline stage of the product life cycle?
phase out
Which of the following statements regarding direct marketing is most accurate?
Many customers believe direct marketing saves time, is entertaining, and offers privacy.
At which stage in the product life cycle would the promotional objective be to persuade consumers to buy the product from the firm rather than competitors?
growth
Factors such as differences in the availability of credit, the need for improved reliability and security in postal systems, and government regulations represent important challenges for __________ in the global market.
direct marketing
Which of the following is an inherent weakness of advertising?
Advertising has some disadvantages. The costs to produce and place a message are significant, and the lack of direct feedback makes it difficult to know how well the message was received
An institutional advocacy advertisement
states the position of a company on an issue.
One of the advantages associated with radio as an advertising medium is that it
The advantages of radio are that it is low cost; can target specific local audiences—making it a segmented medium; ads can be placed quickly; can use sound, humor, and intimacy effectively; and has more stations than broadcast TV
The objective of __________ advertising is to persuade the target market to select the firm’s brand rather than that of a competitor.
competitive
Billboard advertising is most effective for __________ advertising.
reinforcement
At which stage in the product life cycle would the promotional objective be to persuade consumers to buy the product from the firm rather than competitors?
growth
At which stage in the product life cycle would the promotional objective be to persuade consumers to buy the product from the firm rather than competitors?
growth
At which stage in the product life cycle would the promotional objective be to persuade consumers to buy the product from the firm rather than competitors?
growth