Mktg 201 Byu Swenson Final (With Complete Solutions)

Consumers pull out their wallets and buy products to {Ans: get over hurdles}Customers services is based on {Ans: reliability}Cluster Analysis {Ans: Splitting and group objects based on similarities}Social Responsibility {Ans: the obligation of a business to contribute to society}Four characteristics of service marketing {Ans: 1. Intangibility 2. Inseparability 3. Variability 4. Perishability}Marketers disrupt the daily lives of consumers through {Ans: advertising, product sampling, and technology}Percent Margin {Ans: unit margin / price}7ps of Marketing {Ans: Product, place, price, promotion, people, process, physical environment}Viral Marketing {Ans: Owned media, purchased, earned media, and public relations}Consumer lifetime value {Ans: approximate worth of a customer to a company in economic terms; overall profitability of an individual consumer}If you collect data, you can minimize error by {Ans: increasing sampling size}A specialist {Ans: always beats a generalist}What makes a good ad {Ans: product is obvious advertiser is obvious benefit is obvious}Habitual Buying Disruptions {Ans: Rethink old technology, product sampling, advertising}What counts most in motivating the sales force {Ans: A clear sales task need for achievement incentive compensation and recognition good leadership}Fraud Triangle {Ans: opportunity, pressure, rationalization}Market Research Process {Ans: 1.