What is psychological pricing and how is it considered unfair?

Marketer rounding prices down instead of up, plays on known biases

Why is form utility enhanced with digital media marketing?

Customisation such as Nike ID is made possible

Which is an example of webrooming?

Karen looks at shoes online and then tries them on/purchases them instore

What is drip pricing?

A headline price is advertised following which additional fees are added

What is an example of drip pricing

Buying a plane ticket in which you are asked to add on seat selection

What is anchoring in social media psychology?

The human brain’s constant search for patterns to affirm decision making

What are the five categories of social media management?

Exposure → influence → engagement → convert → retain

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MART112 PASS Session 6

10 termsStudBud Administration11 plays

Based off of week 5 lectures: marketing ethics and multichannel marketing & social media.

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Questions 10

Answers

1
What is psychological pricing and how is it considered unfair?
Marketer rounding prices down instead of up, plays on known biases
Marketer rounding prices up instead of down, plays on known biases
Marketer rounding prices up instead of down, plays on consumer doubt
Marketer rounding prices down instead of up, plays on consumer doubt
2
Why is form utility enhanced with digital media marketing?
Orders are delivered faster online
You can look at all the different colours a sweater comes in online
Customisation such as Nike ID is made possible
Large items can be shipped via methods such as flatpack
3
Which is an example of webrooming?
Karen tries on shoes in a shop and then purchases them online
Karen looks at on shoes online and then purchases them online
Karen looks at shoes online and then tries them on/purchases them instore
Karen tries on shoes in a shop and then purchases them inshore
4
What is drip pricing?
Pricing is staggered
Groups such as age are segmented and different prices are advertised
A headline price is advertised following which additional fees are added
Marketer rounding prices up instead of down, plays on known biases
5
What are the two types of utility that are enhanced by the digital marketspace?
Form and Place
Possession and Time
Possession and Form
Place and Time
6
If an action is legal, a firm should be able to carry through with it
False
True
7
What is an example of drip pricing
Buying a plane ticket in which you are asked to add on seat selection
Movie tickets that different prices if you are a student or a senior
An all inclusive package to Bali
8
Who was quoted about business social responsibility; use resources to increase profits without deception or fraud?
Clark
Obama
Maslow
Friedman
9
What is anchoring in social media psychology?
Human desire to fit in
Our inherent trust in and search for leaders
The fear of missing out
The human brain’s constant search for patterns to affirm decision making
10
What are the five categories of social media management?
Exposure → influence → engagement → convert → leave to own device
Exposure → influence → buy → convert → retain
Exposure → influence → engagement → convert → retain
Advertise → influence → engagement → convert → retain

MART112 PASS Session 6 Flashcards | StudBud