Exam 3 Review
Contents 8 to 10 True/False Questions 43 to 46 MC 1 short essay question. Guess which?
Chapters Chapter 13- Retailing – What is retailing (definition) – Classification of retail operations (ownership, level of service, product assortment, price, margin) – Major types of retail operations (department stores, specialty stores, supermarkets, supercenters, discount, etc) – Retailing mix( MM + presentation and personnel)
Chapter 14 Heavy What is promotion/promotional activity/ IMC Promotional mix (advertising, PR, Sales promo, personal selling)- with definitions and focus on comparison-personal/paid/mass. Communication process (components: sender/encoding/decoding/channel/noise/ receiver/feedback)
Chapter 14 AIDA (attention, interest, desire, action) Which promotional tool is most effective in which stages: exhibit 14.4, page 220 Promotional mix and PLC: i.e.how do promo mix changes is a product is in growth stage? – Heavy adv, PR, less sales promo, maintain Personal Selling – Push/Pull strategies
Chapter 15 Types of advertising (corporate/product) – Corporate (image, advocacy) – Product (pioneering, competitive, comparative) – Product benefits vs. product attributes – Advertising campaigns (def, objectives.) – Advertising appeals (reasons to buy a product) Fear, love, profit, ego, fun, health, popularity – Message execution (slice of life, lifestyle, demonstration, humorous, fantasy, dramatization)
Chapter 15 cont Metrics: cost/contact, reach (# of different target consumers who are exposed to a commercial at least once during a specific period), frequency (# of times an individual is exposed to a message during a spec. period) Media scheduling (continuous, flight, pulse) PR/ Publicity/ Product placement (definitions)
Chapter 16 Types of sales promotion (consumer/trade) Consumer sales promo (coupons, rebates, premiums, constests/sweepstakes, POP) Trade sales promo (push money, trade allowances, training) Personal selling (definition)
Chapter 17 Price (definition, monetary/non-monetary) Revenue, revenue calculation (?) ROI (what is that? Net profit after taxes/total assets) Market share (units, $) and profitability Demand/supply (definition) Elasticity of demand (calculation), interpretation What is break-even analysis (definition, no calculation, for your own good try the calculations also)
Chapter 18 Price skimming/penetration/status quo (these are pricing strategies) Fine tuning: – What is: Cash/quantity discount Cost/competition/value(demand) based cost structure Geographic pricing (FOB, zone pricing) Price lining/line pricing Bait and switch