Effective Social Media: Many marketers define their social media objectives around five core concepts: (1) listening--understanding what customers are saying and who those customers are, (2) talking--promoting products/services through conversations with customers, (3) energizing--finding enthusiastic customers and using them to sell to others, (4) supporting--enabling customers to help one another, and (5) embracing--using customers as a source of product innovation.
Marketers should also keep in mind that, more and more, customers expect companies to use social media. According to a recent survey, more than half of all consumers want ongoing conversations with companies and brands—and of consumers who use social media themselves, a whopping 85 percent believe that companies should have an active social media presence. Marketers who embrace such consumers can harness the power of social media and ultimately improve profits and brand loyalty.
- Refer to Effective Social Media. Consumers' opinions about the value of social marketing reflect:
a. the decreasing influence of marketing as an important factor in business.
b. the fact that paid media is no longer relevant in the marketing world.
c. the widespread shift in marketing from one-to-many communication to many-to-many communication.
d. marketers' continuing reluctance to wholeheartedly dive into social media.
e. customers can be easily manipulated by the onslaught of information available in the social media universe.
ANSWER: c
- Refer to Effective Social Media. Of the social media objectives often defined by marketers, the foundational objective is undoubtedly:
a. energizing.
b. talking.
c. embracing.
d. supporting.
e. listening.
ANSWER: e
- Refer to Effective Social Media. Which of the following resources would be MOST likely to help an organization achieve the goal of energizing customers?
a. Buzzillions, a product review site that works with retailers to identify customers who have purchased products and asks them to write reviews
b. Google Analytics, a free service that shows businesses how visitors found their site and how they interact with it
c. Site Volume, a service that measures the frequency of search terms across Tumblr, Facebook, and YouTube
d. Converseon, a service that helps marketers find out what people are saying about their product/brand on newsgroups, blogs, podcasts, and social media sites
e. InnoCentive, a service that enables its clients to source ideas from their customers
ANSWER: a
- Refer to Effective Social Media. One way an organization might effectively use noncorporate blogs to help achieve its social media goals is by:
a. providing bloggers with products and/or money in exchange for a review.
b. flooding the comments section of such blogs with positive comments about the brand or company.
c. purchasing the blogs from the owners and converting them into corporate blogs.
d. endearing the organization with anecdotes and stories about the brand.
e. designing their own corporate blogs to mimic the look of their noncorporate rivals.
ANSWER: a
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Marketing Chapter 19
- ACME Corp. offers a price discount to encourage prompt payment. Which of the following is it likely to use?
- Which of the following charges the same price to all customers regardless of geographic location, and the price is based on average shipping costs for all customers?
- Which of the following pass on to a business customer the cost savings gained through economies of scale?
- The Federal Trade Commission is investigating ACME Corp. for using misleading price tags at its outlet stores to deceive customers into believing they are getting a bargain on Wile E. branded items. Which of the following does the FTC believe ACME is guilty of?
- Maria is concerned about both price and quality of a product. Marketers would best describe her as which of the following?
- A price developed in the buyer's mind through experience with the product is a(n) _____.
- Which of the following is the point at which the costs of producing a product equals the revenue made from selling the product?
- Which of the following is calculated by dividing the variable costs by the number of units produced?
- A business's rental of production space is an example of a _____.
- Spacely Inc.'s sprockets have inelastic demand. If Spacely raises the price of sprockets, what will be the result?
- ACME Corp.'s widgets have elastic demand. If ACME raises the price of widgets, what will be the result?
- Which of the following shows the quantity of products a firm expects to sell at various prices if other factors remain constant?
- Which of the following is a major advantage of nonprice competition?
- ACME Corp. and Spacely Inc. are engaged in intense price competition in order to boost market share of their widgets. This is best described as _____.
- To compete effectively on a price basis, a firm should ____.
- Which of the following is NOT one of the factors that influence the assessment of value?
- Price is a key element in the marketing mix because it relates directly to the generation of total _____.
- Which of the following statements about the international use of the Internet is true?
- Cartoon Network encountered problems introducing the cable channel to Scandinavian television because of opposition to the violent nature of some cartoons like those with the Road Runner and Tom and Jerry. Turner could have used _____ to counter negative publicity and communicate the company's commitment to non-violence.
- _____ is the promotional function that deals with problems involving local governments, media, trade associations and the general public.
- In 2006, the Harvard faculty pressured President Lawrence Summers into resigning. Some alumni were upset by this incident. Harvard will most likely use _____ to soothe alumni feelings.
- Which of the following statements about the use of sales promotion tools in international markets is true?
- In many countries, sales promotion faces problems with distribution and retailers' resistance to processing coupons, setting up displays and dealing with premiums. These are sales promotion difficulties associated with:
- Which of the following statements about international sales promotions is true?
- Which of the following statements about the use of advertising and sales promotion in international markets is true?