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Marketing 201 Final - BYU Swenson questions with correct answers 2024/2025
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Marketing 201 Final - BYU Swenson questions with correct answers 2024/2025
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Marketing 201 Final - BYU SwensonSecondary Data
information that already exists somewhere, having been collected for another purpose
Primary Data
information collected for the specific purpose at hand
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Brainpower
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Purpose of a brand
Branding allows marketers to distinguish their products from all others.
Branding helps consumers identify products they wish to buy again and avoid those they do
not.
Branding is useful when introducing new products
Consumer Behavior evaluation of attributes (The big sum Formula)
Psychological, Cultural, gender specific, social, and individual factors
Income Types: Disposable, discretionary, gross, net
Gross: Total amount received
Disposable: After taxes
Discretionary: After Taxes and Necessities
Income and ability to pay are directly related.
, Market Research Methods: conjoint analysis, regression, discriminant, cross tabulation,
factor analysis, MaxDiff (TURF), etc
Conjoint: value assigned to attributes - Determine value to customer.
Regression: How much return on investing in advertising.
Cross Tabs: Frequency counts indicating a relationship.
Factor Analysis: Grouping highly correlated variables.
MaxDiff (Turf):Which attributes are most important?
TURF: Total Unduplicated Reach and Frequency.
Marketing's role in a firm
create value for customers.
Path to Profitability Chart
TA-DA!
Marketing Environment Dangers/Risks
-social
-competitive
-regulatory
-technological
-economic
Fraud Triangle
opportunity, pressure, rationalization
Consumer Behavior Processes and Problem solving
Problem recognition, information search, evaluation of alternatives, purchase, post-purchase
evaluation
In the consumer behavior process what can marketers control?
Product, Price, Place, Promotion.
market penetration
a marketing strategy that tries to increase market share among existing customers
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