MKT 315 FINAL EXAM
Milton Friedman's famous maxim, paraphrased: The social responsibility of business is to:
- make a profit
What is the ratio of profit to the investment used to earn that profit?
- Return on Investment
In which stage does the salesman call his customer to verify her satisfaction with the product?
- follow-up
Producer focuses marketing events toward final consumers to persuade them to buy the
product
- Pull
A combo of two or more indirect channels plus a direct channel to reach a target audience
- omnichannel
Downgrading a brick-and-mortar bookstore to market directly to customers through the U.S.
mail.
- Disintermediation
When a receiver assigns meaning to the symbols encoded by company advertisements
- Decoding
Web ad directs visitors to a particular webpage and entices them to buy a featured product
- landing page
, Used by web designers to ensure each webpage works effectively with various search engines
- content optimization
What measures the profit or loss generated by investment relative to the cost of product?
- ROI
When a manufacturer decreases its price for latex gloves and it results in higher demand for it
- Elastic
What is the inherent strength of advertising?
- Efficient means to reach a large audience
What can an IT manager evaluate to determine how long a visitor remains on a website?
- time on site
What do we call setting prices a few dollars or cents under an even number?
- odd-even pricing
What forces businesses to be competitive?
- Internet
"We hit fast, price high, and get the heck out when the me-too products pour in."- 3M
- skimming
How does a media planner calculate the total cost of using a particular medium?
- cost per thousand persons reached
Milton Friedman's famous maxim, paraphrased: The social responsibility of business is to:
- make a profit
What is the ratio of profit to the investment used to earn that profit?
- Return on Investment
In which stage does the salesman call his customer to verify her satisfaction with the product?
- follow-up
Producer focuses marketing events toward final consumers to persuade them to buy the
product
- Pull
A combo of two or more indirect channels plus a direct channel to reach a target audience
- omnichannel
Downgrading a brick-and-mortar bookstore to market directly to customers through the U.S.
mail.
- Disintermediation
When a receiver assigns meaning to the symbols encoded by company advertisements
- Decoding
Web ad directs visitors to a particular webpage and entices them to buy a featured product
- landing page
, Used by web designers to ensure each webpage works effectively with various search engines
- content optimization
What measures the profit or loss generated by investment relative to the cost of product?
- ROI
When a manufacturer decreases its price for latex gloves and it results in higher demand for it
- Elastic
What is the inherent strength of advertising?
- Efficient means to reach a large audience
What can an IT manager evaluate to determine how long a visitor remains on a website?
- time on site
What do we call setting prices a few dollars or cents under an even number?
- odd-even pricing
What forces businesses to be competitive?
- Internet
"We hit fast, price high, and get the heck out when the me-too products pour in."- 3M
- skimming
How does a media planner calculate the total cost of using a particular medium?
- cost per thousand persons reached
