Exam 11: Product and Promotion: Creating and Communicating Value

The goal of dynamically continuous product innovation is to find a way to produce a product more efficiently than competitors in order to offer it at a lower price.

What do we call the paid integration of branded products in movies and on television?

Which of the following offers immediate price reductions to consumers?

Two major advantages of magazine advertising are its low cost and the ability to quickly change the message in response to new opportunities.

What is missionary selling, and how is it used today?

What is product diffusion? Describe the five key product characteristics that influence the rate of product diffusion.

What should marketers avoid doing?

What are some of the emerging promotional tools marketers are using today? Define and describe each tool. Give at least one example as to how each tool is being used today.

What are the two fastest-growing advertising mediums?

An example of a store brand is a local grocer reaching an agreement to give Campbell's soups the most favourable shelf location in the soup section of the store.

Core benefits are provided by the augmentations to the actual product.

Which of the following, exemplified by marketing research and marketing services, would be purchased by businesses to facilitate operations?

Continuous innovation is the process of making significant changes to existing products.

As gas prices rise, hybrid vehicles are being considered by more consumers. This is because certain features of hybrid cars rise in comparison to standard cars when gasoline becomes more expensive? Which features are involved?

The formal process of soliciting feedback from consumers is accomplished in the testing phase of the product development process.

Marketing experts have determined that the product diffusion rate is really influenced by only three factors: compatibility, image, and sustainability.

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.

In personal selling, what does closing the sale involve?

Filbertina, a company that markets nuts and other healthy snack foods, has always tried to project an upscale image. However, the company has decided to develop another product line of less expensive snacks. Marketing manager Joseph Hampton generally supports the strategy but is concerned about how the new line will impact sales of the company's current brand. What does Joseph appear to be concerned about?

There are two basic components to a firm's promotional mix: advertising and publicity.