Which of the following is true with regard to value selling?
A) Value selling refers to earning business from customers by cutting down prices of value products.
B) Value selling refers to delivering superior customer value and capturing a fair return on that value.
C) Value selling refers to the mass production of inferior-quality goods for sale.
D) Value selling dilutes customer loyalty in the long run.
E) Value selling tarnishes the brand image of a product in the long run.
Answer: B) Value selling refers to delivering superior customer value and capturing a fair return on that value.
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Marketing Chapter 16
- Social media has allowed for a type of marketing in which companies initiate and facilitate conversations called what?
- Which of the following includes a variety of communications with stakeholders to build a favorable corporate image?
- Which of the following relies on others to create promotional messages, resulting in less control over the message?
- A local retail chain has just established Twitter and Facebook accounts in the hopes that it will not only draw a larger customer base but also gain feedback from its customers, thereby allowing it to be closer with its target markets. Each week it announces sales, adds pictures of new products, and creates forums asking customers' opinions on certain matters. This is an example of __________.
- Which of the following is a short message sent to the media on a topic of potential news interest?
- Another name for word-of-mouth marketing is _________.
- Which of the following might be used when adopting a push marketing strategy?
- Which of the following can take up the largest share of a firm's marketing budget?
- Leo and Penny are starting up a new party-planning company. In order to get the word out to prospective clients, they have mailed calendars to the local community that feature their contact information and pictures of their services. They also included stickers with the company's logo to mark dates for upcoming events so that people will be reminded to call Leo and Penny's company when it's time to plan a party. For the party events, various merchandise is available with the company's logo, including wine glasses, magnets, and pens for party goers to pick up. This is an example of _______________.
- For a limited time, an online retail store is offering a free beach bag and towel with every purchase of a bathing suit over $50. The beach towel and bag are normally $20 each, so customers are really getting a bargain. The retail store is using _______ to encourage consumers to buy its products.
- Which of the following is the biggest category of consumer promotion?
- Which type of sales promotions includes offering no-cost or very low-cost items to consumers to motivate them to purchase a certain product?
- Determining buyer needs is best handled in which step of the personal selling process?
- Jenna is a real estate agent. She has a website set up where potential buyers can view the homes she is selling, and if they are interested, there is an option to fill out an online form which Jenna receives in an email indicating customer interest in a certain house. She then contacts the interested buyer to obtain more information. If the buyer is serious about purchasing the home, she moves on the next step, which is determining whether the buyer is qualified and has funding for the purchase. This is an example of ________.
- Fred and Wilma are looking to remodel their home. They call a local contractor to come to their house to assess their options and get pricing. They walk the contractor through the home and explain a few remodel requirements and then ask him his opinions on updating the home. The contractor then advises them about various options and gives them an estimated price and a time frame. The contractor is utilizing ___________.
- Which step in the personal selling process involves discovering and ensuring that consumers meet certain requirements?
- As a salesperson, Jane advises and helps her customers in discovering the best products to meet their personal requirements. Jane is utilizing which of the following approaches?
- Maria just moved into a new home and is looking to get cable programming. She visits a local cable company's website to view her options. A web sales chat pops up and asks Maria whether she would like assistance. Maria and the salesperson begin chatting about which cable package would best fit Maria and her family's needs. After assessing Maria's requirements, the salesperson sells Maria a cable package including kids and sports channels. This is an example of ________.
- When a marketer wants to get a message out to a large numbers of potential customers long dash—and do so inexpensively long dash—what direct marketing method would be MOST appealing?
- Which of the following is a feature of the media mix?
- Dianne has just opened a new home goods retail store in her hometown. To announce her grand opening and invite customers to visit the new location and take advantage of opening-day sales, she created personalized mailers to send out to the local community. Which of the following is Dianne's strategy?
- To reduce frustration and help potential customers get the information they really want, many companies today emphasize which of the following?
- In order to create an appealing product reputation, Company MRKT has decided to pay to have its products featured in the background of popular shows; MRKT hopes consumers will have the mindset that if celebrities use those products, then so should they. Company MRKT is utilizing a(n) ______ strategy.
- Which of the following encourages advertisers to use direct product comparisons with the intent of better informing customers?
- Which type of direct marketing media involves the utilization of media to influence an instant purchasing reaction from consumers?