Exam (elaborations)
Marketing 201 Final - BYU Swenson questions with correct answers 2024/2025
- Course
- Institution
Marketing 201 Final - BYU Swenson questions with correct answers 2024/2025
[Show more]
Seller
Follow
Content preview
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
Previous
Play
Next
Rewind 10 seconds
Move forward 10 seconds
Unmute
0:00
/
0:15
Full screen
Brainpower
Read More
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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Qualityexam. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73314 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now