Question 1

When marketing to consumers in the global population, it's important for companies to remember that promoting products

Accepted Answer

When marketing to a global population, it is important to pay attention to cultural differences and possible translation problems. Global consumers have different cultural norms, values, and beliefs, which influence their purchase decisions. Additionally, language barriers can impede the communication of marketing messages. Therefore, companies must adapt their marketing campaigns to fit the cultural preferences and language of the target market.

Question 2

One of the distinct differences between ________ and other forms of advertising is the fact that the medium used allows for a dialogue exchange of information between buyers and sellers, instead of a monologue type approach.

Accepted Answer

The description provided matches with the concept of interactive promotion, which involves two-way communication between the buyer and seller, allowing for a dialogue exchange of information. Product placement, direct mail, and infomercials are all forms of traditional advertising that do not typically allow for this type of dialogue.

Question 3

Which of the following statements is the most accurate?

Accepted Answer

Advertising is a major source of revenue for newspapers and magazines, as it helps to pay for their production costs.

Question 4

Interactive promotion

Accepted Answer

Interactive promotion seeks to establish a two-way communication between the buyer and the seller. It aims at engaging customers in a dialogue that helps to build long-term relationships, enhance brand loyalty, and improve customer satisfaction. It is an effective way to create personalized experiences that cater to individual needs and preferences. Therefore, option A is the best choice.

Question 5

Evidence indicates that the best promotional strategy for firms operating globally is

Accepted Answer

A unique strategy tailored to each country is necessary because consumer behavior, cultural values, and economic factors vary significantly across borders. A one-mix-fits-all approach may not effectively communicate the value proposition of the product or service in different markets. Total operating costs and disposable income are important factors to consider but should not be the sole basis for promotional strategy. It is also not advisable to relinquish control of promotion to foreign intermediaries without proper oversight and direction.

Question 6

Which of the following media enables firms to quickly change their advertising message?

Accepted Answer

The answer of Which of the following media enables firms...

Question 7

________ refers to the face-to-face presentation and promotion of goods and services. This also includes searching for prospects and providing follow-up services.

Accepted Answer

Personal selling involves direct communication between a salesperson and a potential customer. It includes activities such as prospecting, presenting, overcoming objections, and providing follow-up services. This is different from word-of-mouth promotion, which is a form of informal communication between individuals about a product or service. Public relations involves managing the communication and relationship between a company and its stakeholders, while internal marketing focuses on promoting a company's culture and values to its employees.

Question 8

Firms with a very limited advertising budget would be very unlikely to use ________ advertising.

Accepted Answer

Television advertising is typically the most expensive form of advertising, so firms with limited advertising budgets are unlikely to use it.

Question 9

Which of the following represents the primary purpose of a firm using institutional advertising?

Accepted Answer

The primary purpose of institutional advertising is to create a positive image for the firm, rather than to achieve full coverage of local markets or reduce cost. It is also not necessarily for a specifically targeted message, as it is meant to promote the overall brand and reputation of the company.

Question 10

People with an unmet need, the authority to buy, and the willingness to listen to a sales message represent a firm's

Accepted Answer

Prospects are individuals or organizations that have an unmet need, the authority to buy, and the willingness to listen to a sales message. Intermediaries refer to third-party entities involved in the distribution chain, such as wholesalers or retailers. Buyers are individuals or organizations that have already made a purchase. Cohorts typically refer to groups or individuals sharing common characteristics.

Question 11

Which of the following statements about global advertising is most correct?

Accepted Answer

Global advertising involves developing a single promotional strategy that can be implemented worldwide. The other options are incorrect. It is not recommended for Epic Electronics to avoid advertising in foreign markets completely, and the best advertising medium may vary by country. Additionally, utilizing a low-price strategy may not always be the best way to promote products in foreign countries as purchasing power and consumer preferences vary.

Question 12

Newport Processing promotes its services through Mechanical Engineers Today, a trade magazine that charges Newport and other companies $5,000 per page for ________ to help offset the magazine's publishing costs.

Accepted Answer

The sentence mentions that Newport Processing promotes its services through Mechanical Engineers Today, a trade magazine that charges companies like Newport $5,000 per page, indicating that they are paying for advertising space. Therefore, the best choice is B) advertising. A) publicity and C) public relations are not the best choices because they do not involve paying for space in a trade magazine. D) trade shows is not the best choice as the sentence specifically mentions promotion through a trade magazine, not at a trade show.

Question 13

Which of the following statements is the most accurate?

Accepted Answer

Studies have shown that effective promotion goes beyond just focusing on pricing and instead utilizes a variety of promotional efforts, including interactive approaches that foster a dialogue between the firm and its customers. The focus of promotion has also shifted towards building relationships with customers through the use of the Internet, which can facilitate two-way communication. Utilizing a well-diversified message that incorporates multiple elements of the promotion mix can also be effective, but it is not the most accurate statement of the choices given.

Question 14

Which of the following helps explain the popularity of infomercials?

Accepted Answer

Infomercials are effective because they are able to clearly demonstrate the product's benefits through detailed presentations and testimonials. This helps the audience become convinced that the product will meet their needs and solve their problems.

Question 15

In the past, ________ was an important advertising strategy used in movies. Now it is also used with video games. It can be easily altered to reflect another advertiser, depending upon which advertiser has purchased ad time.

Accepted Answer

Product placement involves placing a brand or product within a movie or video game in a subtle or not-so-subtle way. It used to be a common advertising strategy in movies and is now also used in video games, where it can be easily changed to reflect a different advertiser depending on who has purchased ad time. Direct mail, sampling, and commercials are different advertising strategies with different methods and goals.

Question 16

Spokes Bicycles is looking to change up its promotional strategy and focus on its relationships with customers. Which of the following is required for Spokes to build meaningful relationships with its customers?

Accepted Answer

To build meaningful relationships with customers, tracking their purchases is important in order to understand their preferences and needs, and to personalize future offerings. Choices A, C, and D do not align with building meaningful relationships with customers as they involve withholding information, promoting rather than collaborating, and relying on technology over personal interaction.

Question 17

Protectors' Insurance wants to build strong relationships with its customers and is looking to create a more interactive approach to advertising. Which of the following represents the preferred advertising medium to achieve their goal?

Accepted Answer

Online advertising allows for a more interactive and personalized approach, making it easier to build strong relationships with customers. It also allows for targeting specific demographics and tracking the success of the ads. Radio, television, and newspapers have limited interactivity and are less targeted, making them less effective for building strong customer relationships.

Question 18

In the seven-step B2B selling process, the selection of potential customers is known as

Accepted Answer

The answer of In the seven-step B2B selling process, the...

Question 19

After prospects have been identified and qualified, the next step in the selling process is ________. This step requires the salesperson to learn as much as possible about the potential customers' wants and needs.

Accepted Answer

The next step in the selling process is the preapproach, where the salesperson conducts research and learns as much as possible about the potential customers' wants and needs before making contact with them. This step allows the salesperson to tailor their approach and pitch to the specific needs and preferences of the customer, increasing the likelihood of a successful sale.

Question 20

The approach step of the selling process attempts to

Accepted Answer

The approach step of the selling process is all about building a connection with the potential customer and establishing rapport. This is where the salesperson has the opportunity to create a positive first impression, build credibility, and demonstrate their value. Qualifying potential customers who are willing and able to buy, learning about their wants and needs, and closing the sale are steps that come later in the process after the approach has been successful.

Quiz 16: Using Effective Promotions

When marketing to consumers in the global population, it's important for companies to remember that promoting products

One of the distinct differences between ________ and other forms of advertising is the fact that the medium used allows for a dialogue exchange of information between buyers and sellers, instead of a monologue type approach.

Which of the following statements is the most accurate?

Interactive promotion

Evidence indicates that the best promotional strategy for firms operating globally is

Which of the following media enables firms to quickly change their advertising message?

________ refers to the face-to-face presentation and promotion of goods and services. This also includes searching for prospects and providing follow-up services.

Firms with a very limited advertising budget would be very unlikely to use ________ advertising.

Which of the following represents the primary purpose of a firm using institutional advertising?

People with an unmet need, the authority to buy, and the willingness to listen to a sales message represent a firm's

Which of the following statements about global advertising is most correct?

Newport Processing promotes its services through Mechanical Engineers Today, a trade magazine that charges Newport and other companies $5,000 per page for ________ to help offset the magazine's publishing costs.

Which of the following statements is the most accurate?

Which of the following helps explain the popularity of infomercials?

In the past, ________ was an important advertising strategy used in movies. Now it is also used with video games. It can be easily altered to reflect another advertiser, depending upon which advertiser has purchased ad time.

Spokes Bicycles is looking to change up its promotional strategy and focus on its relationships with customers. Which of the following is required for Spokes to build meaningful relationships with its customers?

Protectors' Insurance wants to build strong relationships with its customers and is looking to create a more interactive approach to advertising. Which of the following represents the preferred advertising medium to achieve their goal?

In the seven-step B2B selling process, the selection of potential customers is known as

After prospects have been identified and qualified, the next step in the selling process is ________. This step requires the salesperson to learn as much as possible about the potential customers' wants and needs.

The approach step of the selling process attempts to