Exam 12: Product and Promotion: Creating and Communicating Value

The brand name, features, and the packaging of a product are considered part of the augmented product.

Buzz marketing attempts to take advantage of the fact that people tend to listen to the suggestions and advice of people they trust when making purchase decisions.

The first television is an example of discontinuous product innovation.

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Advergaming is a medium that marketers can use to communicate their big idea to their target market.

Explain the difference between a product line and a product mix. Provide an example for each.

Although e­book readers have been around for several years, the introduction of the LibraBook, a reader featuring several significant improvements over older readers, including wireless connectivity based on cell phone technology was a success. LibraBook owners to download the books they buy in less than two minutes from any location without the need to connect to a computer or the Internet. The LibraBook is an example of continuous innovation.

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Premiums, samples, coupons, and rebates are all examples of consumer promotion tools.

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Discontinuous innovation occurs when marketers find a new use for an existing product or technology.

Ellen is in charge of developing a promotional strategy for a new product that her company will soon introduce. She thinks word­of­mouth promotion is likely to be very effective and wants to keep the cost of the campaign relatively low. Considering her goals, which of the following is likely to be a key component of her campaign?

Companies use _____ to coordinate their messages through every promotional vehicle.

Product _____ refers to how reliably a product delivers its promised level of quality.

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When Bonanza Bakery reached an agreement with Candy Conniption to include the candy in one of its ready­to­bake cookie dough products, the two companies were using a strategy known as cobranding.

To build a successful promotional message, a marketer has to understand how his or her product is different from and better than the competition.

Define and describe the six key stages in the sales process -Prospect and qualify: Prospecting means identifying potential

Successful product differentiation requires that the:

Define and describe the six key stages in the sales process -Handle objections: The key to success here is to view objections as