Internal marketing is the promotion of a company's objectives to whom?

Employees, Management, Stockholders, Producers

What is the best definition of Customer Equity?

Total combined customer lifetime values of all the company's customers

Planning, Implementing, Controlling physical flow of goods

Define Economic Factors

interest rates, taxes, laws, wages, policies

Which of the following is a false statement about advertising?

It is the least costly of all promotion mix elements.

What is a Customer Acquisition Cost?

The cost to initially acquire a new customer

Specific variables allowing us to monitor the healthof an organization

What is a Promotion mix?

A specific blending of Advertising, PR and personal selling that builds CRM

How does expression influence digital design?

Conveys the brand's personality and evokes emotional responses from users

Coco is trying to determine if the most recent ad she created and launched has been effective at increasing revenue.

Use Return on ad spend (ROAS) to measure this

Wholesalers are called this because they...?

Buy large quantities of products and then resell them to smaller businesses

Which of these is a marketing strategy that shifts the focus from the product or service to its users?

Customer-driven Marketing Strategy

What is a Marketing Mix?

The set of actions that a company uses to promote its brand or product

What are "Delight Needs"?

Added value customers receive from a seller without expectation or request

What is a marketing channel?

interdependant organizations that makes a product available

What is cognitive dissonance?

Mental conflict that occurs when a person’s actons and beliefs do not align

The perception of a buyer’s value includes which of the following?

Perceived benefits less the perceived costs associated with a purchase

What is the role of "Story-Telling" in Marketing?

Engage customers, build emotional connections, and communicate brand values

Why is it important to track customer satisfaction?

Statements 2 and 4 are both correct.

The Experiences of a user as they engage with a host's interface (website)

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Key Concepts in Marketing and Consumer Behavior (BMI3C)

59 termsStudBud Administration15 plays

This robust Quiz was developed for Grade 12 University Preparatory classes, in cooperation with and adherence to OSSD standards, utilizing Rice University's Introduction to Marketing course materials. A College/university-level business Quiz to prepare for Midterms/Final Exams and prepare for Post-Secondary Business Programs.

Flashcards59 cardsFPractice quizPHost liveL

Questions 59

Answers

1
Which Gap Model represents the difference between what customers expect and what the company thinks they expect?
Customer gap
The knowledge gap
Communication gap
Policy gap
2
Internal marketing is the promotion of a company's objectives to whom?
Family Units, Non-for-profits, Small Enterprises
Customers, Consumers, Lenders, Future Partners
Employees, Management, Stockholders, Producers
Govermental Bodies, Ministry of Internal Revenue, Provincial Legeslation
3
The decisions and actions people undertake to buy products or services for personal use are known as?
Consumer Fiscal Engagement Index
Consumer buying behavior
Consumer Profiling
Consumer Black Box Theory
4
Possession Utility is the amount of usefulness or perceived value from owning a product
False
True
5
What is the best definition of Customer Equity?
Total combined customer lifetime values of all the company's customers
The average sticker price of goods sold to customers over a one-year period
The earning capital of potetnial buyers and consumers
The total money one will spend per visit to a physical or digital location
6
The concept that a company should integrate social and environmental concerns into its business operations
ICBS
CSR
CRM
CRA
7
Define "Logistics"
Planning, Implementing, Controlling physical flow of goods
The managerial system from store front to Head office
The theory of proper supply chain management
all the above
8
Define Economic Factors
Unchangable variables in the society of one's citizenship
interest rates, taxes, laws, wages, policies
all the above
Parental enviornment, subsocial classifications
9
Which of the following is a false statement about advertising?
It assists in consumer awareness and brand loyalty.
It is still as important to the promotion mix as other elements.
It should always be a well-thought-out strategy.
It is the least costly of all promotion mix elements.
10
What is a Customer Acquisition Cost?
The wieghted average of marketing to existing clientel
The potential earning benefits of gaining new customers
The price of gaining vs. losing potential buyers
The cost to initially acquire a new customer
11
Making marketing decisions by considering consumers' wants, the company's capabilities, and society's long-term interest
Societal Marketing Concept
Socio-Political Philosophies
9-Point Social Selling Plan
Psuedo-Social Marketing Analysis
12
The ratio of the perceived benefits relative to the costs incurred by the customer in acquiring the product or service
Brand Loyalty
Customer Value
Customer Purchase Satisfaction
Customer Price Point Process Evaluation
13
What is a KPI?
competative analysis allowing a company to understand a strategic direction
collection of all the detailed statistics we can find regarding performance
Specific variables allowing us to monitor the healthof an organization
Industry economic forecasts gathered during external analysis
14
What is a Promotion mix?
The focus on explicit deviersification of Sales, gimmicks, and material
A mix of promotional materials such as magazines, social media, and instore
A recipe for success.
A specific blending of Advertising, PR and personal selling that builds CRM
15
Being aware of and appreciating variations in culture is known as ________.
Cultural Brand Awareness
International Ethical Best-Practices
Interpersonal Ethics
Cultural Sensitivity
16
How does expression influence digital design?
Is used purely to create an aesthetic that ultimalty encourages purchases
Builds a euphoric understanding of a company's brand and image
Conveys the brand's personality and evokes emotional responses from users
Hypnotically makes potential consumers vulnerable to suggestions
17
The series of steps that assist businesses in planning, analyzing, implementing, and adjusting their marketing strategy
Marketing Analysis
Consumption Based Marketing Exploits
Core Analytical and Demographical Processes
Marketing Process
18
Is Communal Empowerment one of Maslow’s hierarchy of needs?
True
False
19
Coco is trying to determine if the most recent ad she created and launched has been effective at increasing revenue.
Impressions to see click-through-purchase generations
Brand awareness to measure potential revenue
Brand recognition to measure the success
Use Return on ad spend (ROAS) to measure this
20
What are the Two Basic and most common and division of sellable goods?
Free and Costly
Tangible and Intangible
Free, Cheap, and Expensive
Etheral and Mortal
21
A Macro-environment is the external factors and forces, not controlled by the company, that influence its operations
False
True
22
Wholesalers are called this because they...?
Buy bulk materials to be used in the manufacturing process
Must move whole shipments of products at one time to a purchaser
Buy large quantities of products and then resell them to smaller businesses
All of the above
23
Sensual Needs are the needs a customer is embarrassed or secretive about announcing needing fulfillment from a purchase
True
False
24
What is the ability of a company to turn customers into repeat buyers and prevent them from switching to a competitor?
Customer Promotion
Customer Market Segmentation Protocols
Customer Retention
Customer Exploitation
25
"Customer Loyalty" is an ongoing positive relationship between a customer and a business.
True
False
26
There are Direct and Indirect Marketing Channels
False
True
27
Which of these is a marketing strategy that shifts the focus from the product or service to its users?
Internal Market Overhaul Strategy
5 Step Market Adherence Plan
Integrated Marketing Analysis Program
Customer-driven Marketing Strategy
28
Concentric Diversification is the addition of new, but similar, product lines to an existing company.
False
True
29
The process that emphasizes trustworthy, transparent, social, and culturally sensitive marketing policies
Corporate Legal Adherences and Requirements
Compulsary Best Business Practices
Social Responsibility
Ethical Marketing
30
Analytics can be defined as "collecting and measuring data for the sole purpose of interest and curiosity"
True
False
31
What are the internal elements of a marketing plan that need to be resolved if the plan is successful
Price, Position, Place, Promotion
5Ms of marketing
All of the above
customer relationship strategies
32
Suppliers are Vendors that we receive direct parts from, but not finished products.
False
True
33
all strategies, techniques, tools, and technologies used by companies to develop, acquire, and retain customers
EGBDF
ERP
CRM
CRA
34
Dissonance Reducing Buying Behaviour decreases the tensions and discomfort of unfamiliar purchases made by a customer
True
False
35
What is a Marketing Mix?
The combined sales demographics of all possible customers you advertise to
Making sure to change up your marketing approach periodically
The set of actions that a company uses to promote its brand or product
When your marketing gets confused with other company's brands or slogans
36
A person or institution that purchases goods or services is considered a "Gatekeeper"
True
False
37
What are "Delight Needs"?
Added value customers receive from a seller without expectation or request
Internal joy gained from well timed, placed, priced and promoted services
When a Cusomer's Percieved Value outperforms initial purchasing costs
The necessary needs of a customer that at a minimum must be met
38
Subcultures are smaller pockets of people grouped within a larger social/cultural construct.
False
True
39
What is Content Marketing?
All of the above
It is marketing social biases and trends to influence consumers
creating and distributing valuable, relevant, and consistent content
the utility of refining a consumer basis and encouraging direct interaction
40
Major Advertising Decisions Include: setting objectives, setting a budget, developing a message, selecting media
False
True
41
How frequently should we monitor KPIs?
Continuously
Monthly when the financial statements are produced
When things just don’t “feel” quite right
Annually when the yearly financial statements are produced
42
What is a marketing channel?
interdependant organizations that makes a product available
A TV station or streaming braodcast used for direct selling obnline
A new fragrence from Coco Chanelle
Confusing numerical graphs
43
A promise of value to be delivered, communicated, and acknowledged is a value proposition
False
True
44
What is cognitive dissonance?
When the brain begins to detach from the body
When the brain can hear and understand sounds previously unknown
Mental conflict that occurs when a person’s actons and beliefs do not align
When someone believes they are one with the universe
45
The perception of a buyer’s value includes which of the following?
Perceived benefits less the perceived costs associated with a purchase
Profit a company can expect from sales
Costs of manufacturing the product
Revenue expected from a sale
46
If a company were studying Organizational Behaviour. That would be?
How a company's employees and management interact and handle customers
The Core Beliefs and Behaviours that define a Company's CRM
All of the above
The ability of a company to understand and address communal needs of others
47
All the factors that drive/influence an organization's marketing activity are referred to as a "Marketing Environment."
True
False
48
Promoting a product in a television commercial aligns with the Advertising promotion mix elements
False
True
49
What is the role of "Story-Telling" in Marketing?
allows customers to feel intrigual to a company's success
Able to explain complex issues at several levels of consumer understanding
The fabrication of an elaborate system to which a customer can find loyalty
Engage customers, build emotional connections, and communicate brand values
50
Why is it important to track customer satisfaction?
Customer referrals can be a powerful promotional tool.
Statements 2 and 4 are both correct.
We don’t need to; we already have their money.
Customer acquisition can be expensive repeat purchases are more profitable.
51
What is a UX/UI?
Overall experience of users as they engage both digitally and physically
The testing requirements of website accessibility for handicapped people
Newest underground London Rapper
The Experiences of a user as they engage with a host's interface (website)
52
What is Public Relations?
Creation of a good corporate image in the public sector
Favourable relationships established with potential consumers
All the above
the ability to handle negative issues iwht a positive spin
53
The tendency of people to interpret information in a way that supports what they already believe is known as ________.
Selective distortion
Personal Preference Protocols
Individualistic Translationalism
Cognative Preferantial Syndrome
54
Value of a product because the materials and components that comprise it have been combined to make the finished product
Cost Utility
Form Utility
Product Utility
All of the above
55
The Hierarchy of Shapes is when we utilize shape, colour, position, and size to indicate importance and draw attention
False
True
56
A Macroenvironment is the external factors and forces that can be manipulated and controlled by a company for influence
False
True
57
What is the Psychology of Design
Understanding how choices, like color and layout, affect human behavior
The medical field designed initially to promote utilitarianism and control
The process in choosing which software to utilize for graphic design
None of the above
58
The final user of a purchased product or service is
A Consumer
A Buyer
A Reseller
A Producer
59
What is a "Buyer Persona" ?
The distorted/unreal ideals of potential customers and their needs
A semi-fictional representation of your customers based on data/research
The truest representation of an ideal customer's secret biases
The desire to purchase more and the process to guide them to your products

Key Concepts in Marketing and Consumer Behavior (BMI3C) Flashcards | StudBud

Key Concepts in Marketing and Consumer Behavior (BMI3C)

59 termsStudBud Administration15 plays

Flashcards59 cardsFPractice quizPHost liveL

Questions 59

Answers

1
Which Gap Model represents the difference between what customers expect and what the company thinks they expect?
Customer gap
The knowledge gap
Communication gap
Policy gap
2
Internal marketing is the promotion of a company's objectives to whom?
Family Units, Non-for-profits, Small Enterprises
Customers, Consumers, Lenders, Future Partners
Employees, Management, Stockholders, Producers
Govermental Bodies, Ministry of Internal Revenue, Provincial Legeslation
3
The decisions and actions people undertake to buy products or services for personal use are known as?
Consumer Fiscal Engagement Index
Consumer buying behavior
Consumer Profiling
Consumer Black Box Theory
4
Possession Utility is the amount of usefulness or perceived value from owning a product
False
True
5
What is the best definition of Customer Equity?
Total combined customer lifetime values of all the company's customers
The average sticker price of goods sold to customers over a one-year period
The earning capital of potetnial buyers and consumers
The total money one will spend per visit to a physical or digital location
6
The concept that a company should integrate social and environmental concerns into its business operations
ICBS
CSR
CRM
CRA
7
Define "Logistics"
Planning, Implementing, Controlling physical flow of goods
The managerial system from store front to Head office
The theory of proper supply chain management
all the above
8
Define Economic Factors
Unchangable variables in the society of one's citizenship
interest rates, taxes, laws, wages, policies
all the above
Parental enviornment, subsocial classifications
9
Which of the following is a false statement about advertising?
It assists in consumer awareness and brand loyalty.
It is still as important to the promotion mix as other elements.
It should always be a well-thought-out strategy.
It is the least costly of all promotion mix elements.
10
What is a Customer Acquisition Cost?
The wieghted average of marketing to existing clientel
The potential earning benefits of gaining new customers
The price of gaining vs. losing potential buyers
The cost to initially acquire a new customer
11
Making marketing decisions by considering consumers' wants, the company's capabilities, and society's long-term interest
Societal Marketing Concept
Socio-Political Philosophies
9-Point Social Selling Plan
Psuedo-Social Marketing Analysis
12
The ratio of the perceived benefits relative to the costs incurred by the customer in acquiring the product or service
Brand Loyalty
Customer Value
Customer Purchase Satisfaction
Customer Price Point Process Evaluation
13
What is a KPI?
competative analysis allowing a company to understand a strategic direction
collection of all the detailed statistics we can find regarding performance
Specific variables allowing us to monitor the healthof an organization
Industry economic forecasts gathered during external analysis
14
What is a Promotion mix?
The focus on explicit deviersification of Sales, gimmicks, and material
A mix of promotional materials such as magazines, social media, and instore
A recipe for success.
A specific blending of Advertising, PR and personal selling that builds CRM
15
Being aware of and appreciating variations in culture is known as ________.
Cultural Brand Awareness
International Ethical Best-Practices
Interpersonal Ethics
Cultural Sensitivity
16
How does expression influence digital design?
Is used purely to create an aesthetic that ultimalty encourages purchases
Builds a euphoric understanding of a company's brand and image
Conveys the brand's personality and evokes emotional responses from users
Hypnotically makes potential consumers vulnerable to suggestions
17
The series of steps that assist businesses in planning, analyzing, implementing, and adjusting their marketing strategy
Marketing Analysis
Consumption Based Marketing Exploits
Core Analytical and Demographical Processes
Marketing Process
18
Is Communal Empowerment one of Maslow’s hierarchy of needs?
True
False
19
Coco is trying to determine if the most recent ad she created and launched has been effective at increasing revenue.
Impressions to see click-through-purchase generations
Brand awareness to measure potential revenue
Brand recognition to measure the success
Use Return on ad spend (ROAS) to measure this
20
What are the Two Basic and most common and division of sellable goods?
Free and Costly
Tangible and Intangible
Free, Cheap, and Expensive
Etheral and Mortal
21
A Macro-environment is the external factors and forces, not controlled by the company, that influence its operations
False
True
22
Wholesalers are called this because they...?
Buy bulk materials to be used in the manufacturing process
Must move whole shipments of products at one time to a purchaser
Buy large quantities of products and then resell them to smaller businesses
All of the above
23
Sensual Needs are the needs a customer is embarrassed or secretive about announcing needing fulfillment from a purchase
True
False
24
What is the ability of a company to turn customers into repeat buyers and prevent them from switching to a competitor?
Customer Promotion
Customer Market Segmentation Protocols
Customer Retention
Customer Exploitation
25
"Customer Loyalty" is an ongoing positive relationship between a customer and a business.
True
False
26
There are Direct and Indirect Marketing Channels
False
True
27
Which of these is a marketing strategy that shifts the focus from the product or service to its users?
Internal Market Overhaul Strategy
5 Step Market Adherence Plan
Integrated Marketing Analysis Program
Customer-driven Marketing Strategy
28
Concentric Diversification is the addition of new, but similar, product lines to an existing company.
False
True
29
The process that emphasizes trustworthy, transparent, social, and culturally sensitive marketing policies
Corporate Legal Adherences and Requirements
Compulsary Best Business Practices
Social Responsibility
Ethical Marketing
30
Analytics can be defined as "collecting and measuring data for the sole purpose of interest and curiosity"
True
False
31
What are the internal elements of a marketing plan that need to be resolved if the plan is successful
Price, Position, Place, Promotion
5Ms of marketing
All of the above
customer relationship strategies
32
Suppliers are Vendors that we receive direct parts from, but not finished products.
False
True
33
all strategies, techniques, tools, and technologies used by companies to develop, acquire, and retain customers
EGBDF
ERP
CRM
CRA
34
Dissonance Reducing Buying Behaviour decreases the tensions and discomfort of unfamiliar purchases made by a customer
True
False
35
What is a Marketing Mix?
The combined sales demographics of all possible customers you advertise to
Making sure to change up your marketing approach periodically
The set of actions that a company uses to promote its brand or product
When your marketing gets confused with other company's brands or slogans
36
A person or institution that purchases goods or services is considered a "Gatekeeper"
True
False
37
What are "Delight Needs"?
Added value customers receive from a seller without expectation or request
Internal joy gained from well timed, placed, priced and promoted services
When a Cusomer's Percieved Value outperforms initial purchasing costs
The necessary needs of a customer that at a minimum must be met
38
Subcultures are smaller pockets of people grouped within a larger social/cultural construct.
False
True
39
What is Content Marketing?
All of the above
It is marketing social biases and trends to influence consumers
creating and distributing valuable, relevant, and consistent content
the utility of refining a consumer basis and encouraging direct interaction
40
Major Advertising Decisions Include: setting objectives, setting a budget, developing a message, selecting media
False
True
41
How frequently should we monitor KPIs?
Continuously
Monthly when the financial statements are produced
When things just don’t “feel” quite right
Annually when the yearly financial statements are produced
42
What is a marketing channel?
interdependant organizations that makes a product available
A TV station or streaming braodcast used for direct selling obnline
A new fragrence from Coco Chanelle
Confusing numerical graphs
43
A promise of value to be delivered, communicated, and acknowledged is a value proposition
False
True
44
What is cognitive dissonance?
When the brain begins to detach from the body
When the brain can hear and understand sounds previously unknown
Mental conflict that occurs when a person’s actons and beliefs do not align
When someone believes they are one with the universe
45
The perception of a buyer’s value includes which of the following?
Perceived benefits less the perceived costs associated with a purchase
Profit a company can expect from sales
Costs of manufacturing the product
Revenue expected from a sale
46
If a company were studying Organizational Behaviour. That would be?
How a company's employees and management interact and handle customers
The Core Beliefs and Behaviours that define a Company's CRM
All of the above
The ability of a company to understand and address communal needs of others
47
All the factors that drive/influence an organization's marketing activity are referred to as a "Marketing Environment."
True
False
48
Promoting a product in a television commercial aligns with the Advertising promotion mix elements
False
True
49
What is the role of "Story-Telling" in Marketing?
allows customers to feel intrigual to a company's success
Able to explain complex issues at several levels of consumer understanding
The fabrication of an elaborate system to which a customer can find loyalty
Engage customers, build emotional connections, and communicate brand values
50
Why is it important to track customer satisfaction?
Customer referrals can be a powerful promotional tool.
Statements 2 and 4 are both correct.
We don’t need to; we already have their money.
Customer acquisition can be expensive repeat purchases are more profitable.
51
What is a UX/UI?
Overall experience of users as they engage both digitally and physically
The testing requirements of website accessibility for handicapped people
Newest underground London Rapper
The Experiences of a user as they engage with a host's interface (website)
52
What is Public Relations?
Creation of a good corporate image in the public sector
Favourable relationships established with potential consumers
All the above
the ability to handle negative issues iwht a positive spin
53
The tendency of people to interpret information in a way that supports what they already believe is known as ________.
Selective distortion
Personal Preference Protocols
Individualistic Translationalism
Cognative Preferantial Syndrome
54
Value of a product because the materials and components that comprise it have been combined to make the finished product
Cost Utility
Form Utility
Product Utility
All of the above
55
The Hierarchy of Shapes is when we utilize shape, colour, position, and size to indicate importance and draw attention
False
True
56
A Macroenvironment is the external factors and forces that can be manipulated and controlled by a company for influence
False
True
57
What is the Psychology of Design
Understanding how choices, like color and layout, affect human behavior
The medical field designed initially to promote utilitarianism and control
The process in choosing which software to utilize for graphic design
None of the above
58
The final user of a purchased product or service is
A Consumer
A Buyer
A Reseller
A Producer
59
What is a "Buyer Persona" ?
The distorted/unreal ideals of potential customers and their needs
A semi-fictional representation of your customers based on data/research
The truest representation of an ideal customer's secret biases
The desire to purchase more and the process to guide them to your products