Question 1

At which stage in the product life cycle are discounts and coupons offered to both consumers and intermediaries to maintain loyal buyers?

Accepted Answer

Discounts and coupons are commonly used in the maturity stage of the product life cycle as a tool to maintain loyal customers and compete with other products in the market. In this stage, the product has already established its market presence and is facing increased competition, which may lead to a decline in sales. Therefore, offering discounts and coupons can help to retain the existing customers and attract new ones.

Question 2

Which of the following statements regarding the promotional mix is most accurate?

Accepted Answer

The promotional mix should be influenced by various factors such as the product's life cycle, buyer behavior, characteristics of the product, and channel of distribution. It is not necessary to allocate equal funding for all five elements, and advertising is not necessarily required in every promotional decision. Coordination and a shared goal are essential for successful IMC campaigns. Decisions regarding the promotional mix should be made by the marketing team collaboratively, rather than individually. Therefore, option B is the most accurate statement.

Question 3

The practice of __________ is so common that researchers estimate a typical media day for Generation Y consumers is 31 hours.

Accepted Answer

The statement refers to the practice of media multitasking, which is the act of using multiple forms of media concurrently. This behavior is particularly common among Generation Y consumers who are known for their frequent use of technology and digital devices. The estimate of a 31-hour media day suggests that many individuals are engaging in media multitasking for extended periods of time.

Question 4

According to recent research,__________ consumers are most likely to respond to mobile marketing programs.

Accepted Answer

Generation Y, also known as Millennials, are the largest group of smartphone users and are very receptive to mobile marketing. They are also more likely to make purchases directly from their mobile devices. Baby boomers and baby busters may not be as tech-savvy and may be less likely to respond to mobile marketing programs. Baby boomlets is not a commonly used term and may not refer to a specific demographic group. Generation X may also be receptive to mobile marketing but not as much as Generation Y.

Question 5

Persuading the consumer to buy the product rather than substitutes is the promotional objective during which stage of the product life cycle?

Accepted Answer

During the growth stage of the product life cycle, the focus of promotion is to persuade the consumer to choose the product over substitutes, as the product has gained acceptance and competition has increased.

Question 6

An unsatisfied customer who switches brands is hard to replace.Which stage of the product life cycle is focused on maintaining loyal buyers so that customers will not switch brands?

Accepted Answer

The stage of the product life cycle focused on maintaining loyal buyers is maturity. At this stage, the market is saturated, and competition is high, so brands need to focus on building customer loyalty to prevent customers from switching to competing brands.

Question 7

Which promotional element is particularly important to business buyers?

Accepted Answer

Business buyers value personal selling because it allows them to ask questions and receive detailed information about a product or service. This is especially important for business purchases, where the buyer needs to ensure that the product or service will meet the needs of their organization. Personal selling also allows for negotiations and building relationships between the buyer and seller, which can lead to long-term partnerships.

Question 8

Marketers can communicate best with Generation Y consumers by __________.

Accepted Answer

Generation Y consumers are heavy users of mobile devices and social media, making it important for marketers to include mobile media in their integrated marketing communication campaigns to effectively reach and communicate with them.

Question 9

The promotional objective of the maturity stage of the product life cycle is to __________.

Accepted Answer

The promotional objective of the maturity stage is to remind customers about the product's existence and benefits. At this stage, most customers are aware of the product, so the goal is to keep the product top-of-mind and encourage repeat purchases. This is achieved through reminding customers about the benefits and features of the product, rather than trying to persuade or convince them to buy it.

Question 10

Which promotional element would you most likely use during the growth stage of the product life cycle to solidify channels of distribution?

Accepted Answer

During the growth stage of the product life cycle, the primary focus is on solidifying channels of distribution and increasing sales volume. Personal selling, which involves direct interaction with channel partners and customers, is the most effective way to achieve this goal. By training and motivating a sales force to promote the product effectively, a company can build strong relationships with distributors, retailers, and end-users. Advertising and other promotional elements may also be used to support the sales effort, but personal selling is the most important tool for cementing long-term relationships with key partners.

Question 11

Reminding buyers of the product's existence is the promotional objective during which stage of the product life cycle?

Accepted Answer

Reminding buyers of the product's existence is the promotional objective during the maturity stage of the product life cycle as the product has already gained widespread acceptance in the market and the focus is on maintaining market share and customer loyalty.

Question 12

"To persuade" is the promotional objective of which stage of the product life cycle?

Accepted Answer

The answer of "To persuade" is the promotional objective of...

Question 13

Many promotional efforts are focused towards __________,who help coordinate promotional campaigns sponsored by the manufacturer and provide marketing advice and expertise.

Accepted Answer

Intermediaries, also known as middlemen, play a crucial role in the distribution of goods and services from manufacturers to ultimate consumers. They may include wholesalers, retailers, agents, brokers, and other intermediaries. Since they are in direct contact with the end consumers, they can provide valuable insights and feedback about market trends, preferences, and needs. Manufacturers often work closely with intermediaries to develop and implement promotional campaigns that target specific segments of the market. For example, a manufacturer of sports shoes may partner with retailers to offer special discounts and promotions during the back-to-school season targeting young students and their parents. By leveraging the expertise of intermediaries, manufacturers can achieve their promotional objectives more effectively and efficiently.

Question 14

The promotional objective of the growth stage of the product life cycle is to __________ consumers.

Accepted Answer

In the growth stage, the product has already been introduced and is gaining acceptance in the market. The promotional objective at this stage is to persuade consumers to choose the product over competitors as the market becomes crowded. The focus is shifting from creating awareness to generating demand, hence persuasion becomes key.

Question 15

"To phase out" is the promotional objective of which stage of the product life cycle?

Accepted Answer

The answer of "To phase out" is the promotional objective...

Question 16

"To inform" is the promotional objective of which stage of the product life cycle?

Accepted Answer

The introduction stage is the first stage of the product life cycle and during this stage, the main objective is to inform the target market about the benefits of the new product. This means that the promotional objective of the introduction stage is "to inform."

Question 17

All of the following factors are used to balance the use of the promotional mix elements EXCEPT:

Accepted Answer

The factors used to balance the use of the promotional mix elements include the channel of distribution, the product's life cycle, the decision stage of the buyer, and the characteristics of the product. The different departments responsible for implementing the sales promotion strategy and tactics are not typically considered as a factor to balance the use of the promotional mix elements. Therefore, option D is the correct answer.

Question 18

"To remind" is the promotional objective of which stage of the product life cycle?

Accepted Answer

"To remind" is an objective used during the maturity stage of the product life cycle, where the aim is to maintain or extend the product's market share by reminding customers of its existence and benefits.

Question 19

The promotional objective of the introduction stage of the product life cycle is to __________ consumers in order to increase their level of awareness of the product offering.

Accepted Answer

The main objective during the introduction stage of the product life cycle is to inform consumers about the new product and create awareness. Persuasion, appealing, reminding or swaying consumers may come later in the product life cycle when the brand is established and consumers are already aware of the product.

Question 20

All products go through a product life cycle of __________ stages: __________.

Accepted Answer

The product life cycle consists of four stages: introduction, growth, maturity, and decline. Option A is incorrect because it only includes two stages, and option B is incorrect because it only includes growth and decline stages, omitting the introduction and maturity stages. Option C is not accurate because there is no "obsolete" stage in the traditional product life cycle. Option D includes awareness, interest, involvement, and evaluation stages, which may be considered part of the marketing funnel or customer journey, but not the traditional product life cycle. Therefore, the best answer is E.

Quiz 14: Integrated Marketing Communications and Direct Marketing