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Question
In calculating lifetime value, the cost of acquiring a customer is typically determined by dividing the total marketing and advertising costs by the firm's total number of customers.Answer
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Related questions
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An advertising account executive is the person who actually develops and produces the advertisement.
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Within an advertising agency, the voice of the consumer is represented by the:
A) account executive.
B) creative.
C) account planner.
D) media planner.
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The key go-between for the advertising agency and a client company is usually the:
A) account executive.
B) creative.
C) account planner.
D) traffic manager.
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The request for a creative pitch would occur when the list of candidate advertising agencies is reduced to the one that has been selected.
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One method to measure the creative reputation and capability of an advertising agency is to look at a list of awards the company has received for past campaigns.
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Matching the size of an advertising agency to the size of the client company is typically not a key issue in agency selection.
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The first step in selecting an advertising agency is to decide the criteria that will be used for the selection process.
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The first step in the IMC planning process is:
A) communications research.
B) defining the firm's target market.
C) an analysis of the product positioning.
D) developing communications objective.
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Consumer product manufacturers spend more money on trade promotions directed toward retailers while service companies spend more money on media advertising.
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Successful global integrated marketing communication campaigns include all of the following tactics except:
A) a standardization approach.
B) understand the international market.
C) create a borderless marketing plan.
D) think globally, but act locally.
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Quantitative methods of developing a marketing communications budget rely on computer models or simulations.
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The "what we can afford" method of budgeting for marketing communications is the most difficult form of communications budget that a company can prepare.
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The primary reason many companies use the percentage of sales method to prepare communications budgets is its simplicity.
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In allocating its marketing communications budget, a company such as General Electric that sells kitchen appliances would tend to use the ________ schedule.
A) flighting
B) continuous
C) payout
D) pulsating
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The primary disadvantage of the meet-the-competition method of marketing communication budgeting is:
A) marketing dollars may not be spent efficiently.
B) there is little flexibility in how marketing dollars can be spent.
C) when sales go down, so does spending.
D) it shows a lack of commitment to marketing.
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One of the problems with the percentage of sales budgeting method is:
A) deciding on the percentage level.
B) finding a benchmark figure to use.
C) the budget tends to change in the opposite direction of what may be needed.
D) the competition knows how much the company will spend on advertising.
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All of the following are methods of determining marketing communications budgets except:
A) objective and task.
B) payout planning.
C) sales-response analysis.
D) quantitative methods.
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The starting point that is studied in relation to the degree of change following a promotional campaign is called a:
A) post-hoc analysis.
B) marginal analysis.
C) benchmark measure.
D) standardized measure.
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The product positioning strategy based on how a product is used is the ________ positioning approach.
A) product attributes
B) competitors
C) use or application
D) price-quality relationship
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When Mercedes Benz promises the finest luxury automobile, the positioning approach being used is:
A) competitors.
B) price-quality relationship.
C) use or application.
D) cultural symbol.
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The product positioning strategy based on value or prestige is the ________ positioning approach.
A) product attributes
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A restaurant that advertises "the best food and best service in town" uses which form of positioning?
A) Product attributes
B) Competitors
C) Use or application
D) Price-quality relationship
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One method of business-to-business market segmentation utilizes company size as a segmentation variable.
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A food producer that distinguishes between individually owned grocery stores and major retailers such as Target, the segmentation approach being used is:
A) industry.
B) business size.
C) geographic location.
D) usage.
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The most common method of segmenting business markets by industry is to use:
A) the NAICS code system.
B) geographic location.
C) business characteristics.
D) customer value measures.
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Psychographics are patterns that reflect attitudes, interests, and opinions of consumers, and can be used for demographic market segmentation.
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Successful ethnic marketing is more than just using ethnic media outlets. It requires understanding various ethnic groups and preparing marketing communications that speak to specific cultures and values.
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A marginal analysis is used to portray how returns on additional advertising expenditures are related to incremental increases in sales.
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When a company introduces a new product under a strongly established brand name, the length of time to reach the threshold point where advertising becomes effective is normally longer.
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Recent studies have revealed that a 10 percent increase in advertising leads to about a 5 percent increase in sales, although results vary widely.