Mktg 201 Midterm 2 Byu (100% Verified Answers)

The product lifecycle strategy during the growth phase {Ans: Maximize market share Add features and improve quality Add channels and markets}value pricing {Ans: Know own costs, and a lot about customer value, and competitors Understand Customers: Yes Understand Competitors: Yes}Sell to the ____ group through the eyes of the _____ group {Ans: swing, love}Demographic Segmentation {Ans: segmenting markets by age, gender, income, ethnic background, occupation}Marketing mix emphasis for functional brands {Ans: product, price, and/or place}The product lifecycle strategy during the maturity phase {Ans: Maximize profit Modify market, and marketing mix}BEV {Ans: fixed cost/price-unit VC}brand awareness {Ans: Consumers know about the brand}Behavioral Segmentation {Ans: Usage situations, benefits}reach {Ans: the number of different people or households exposed to an advertisement}Consumer needs and involvement for image brands {Ans: Social and esteem needs, moderate to high involvement}Price Penetration {Ans: setting a low price for a new product in order to attract a large number of buyers and a large market share}The product lifecycle strategy during the decline phase {Ans: Reduce expenditures Milk the brand Maintain, harvest, or drop}The Late Market in the diffusion process {Ans: Laggards (16%)}Problem with "Me Too"