MRKG 1311
Principles of Marketing
Summer 2015
Test 4 - Review Sheet

CHAPTER 14 – COMMUNICATING CUSTOMER VALUE: INTEGRATED MARKETING COMMUNICATIONS STRATEGY * What is a promotion mix? pp. 428-429 * What is advertising? p. 429 * What are the sources where consumers can locate information about products and services? p. 429 * What is a sales promotion? pp. 429 * What is integrated marketing communications? pp. 431-432 * What are the six stages of the buyer readiness process? p. 436 * What are the different appeals used in advertising? p. 437 * What are the two types of communication channels? pp. 438-439 * What is buzz marketing? p. 439 * What are the different methods of setting a marketing budget? pp. 440, 442-443 * What are push and pull strategies? pp. 444-445 * What is personal selling? p. 444

CHAPTER 15 – ADVERTISING AND PUBLIC RELATIONS * Which firm is the world’s largest advertiser? p. 456 * What is advertising? pp. 456-457 * Which group of users use advertising the most? p. 457 * What is an advertising objective? p. 457 * What are the primary goals of reminder advertising? pp. 457-458 * What is the goal of persuasive advertising? pp. 457-458 * What are the budget decisions that need to be considered when developing an advertising program? p. 459 * What are the elements to consider when developing an advertising strategy? pp. 459-460 * What should an advertisement accomplish to be considered successful? p. 460 * What is Madison and Vine? p. 461 * What is product placement? pp. 461-462 * Which execution style shows average people using the product * What is the creative concept? p. 462 * What type of execution style uses dream themes? pp. 462-463 * in an everyday setting? pp. 462-463 * How is tone used in advertising? pp. 462-463 * What are the three elements of an advertisement? p. 463 * How does a company’s web site help its public relations? pp. 473, 475
CHAPTER 18 – CREATING COMPETITIVE ADVANTAGE * What is competitive advantage? pp. 547-548 * What are the considerations of a competitor analysis? pp. 548, 551-553 * What are competitive marketing strategies? p. 548 * What is benchmarking? p. 552 * What is competitive intelligence? p. 552 * What is customer value analysis? p. 553 * What is customer value? p. 553 * What does formulated marketing mean? p. 556 * What is a market leader? pp. 560-561 * What are market nichers? pp. 564-565 * What are market challengers? p. 564 * What is a market follower? p. 564 * What is a competitor centered company? p. 565 * What is a customer-centered company? pp. 565-566 * What is a market-centered company? p. 566

CHAPTER 19 – THE GLOBAL MARKETPLACE * What is a global firm? p. 575 * What are free trade zones? p. 577 * What is an economic community? p. 577 * What is a raw material exporting economy? p. 578 * What is an embargo? pp. 580-581 * What is barter? p. 581 * What is direct exporting? p. 585 * What is licensing? p. 586 * What is joint ownership? p. 587 * What is direct investment? pp. 587-588 * What is standardized global marketing? p. 588 * What is adapted global marketing? p. 588 * What is communication adaptation? p. 592 * What is a whole channel view? p. 593 * What is an international division? p. 594 * What is direct exporting? p. 585

SHORT ESSAY QUESTIONS REVIEW
SEQ1) A company's marketing communications mix, also called its promotion mix, blends five different parts. Name and define these parts. (Chapter 14)

SEQ2) Describe the six buyer-readiness stages along with marketing strategies that may be used at each stage. (Chapter 14)

SEQ3) The creative team must find the best way to execute an advertising message. Name and describe five of these styles of execution. (Chapter 15)

SEQ4) Name and describe the four major steps in media selection. (Chapter 15)

SEQ5) Discuss the functions and goals of a competitive intelligence system. (Chapter 18)

SEQ6) Compare the four competitive positions that are often used to describe market structures. (Chapter 18)

SEQ7) Compare the four different types of industrial structures. (Chapter 19)

SEQ8) Discuss the international marketing objectives and policies a company should try to define before going abroad. (Chapter 19)