Marketing 201 Swenson @ BYU – final exam (Questions + Answers) Verified 100% Correct!!.

Advertising - paid placement of announcements and persuasive messages to inform, gain liking/interest, and/or stimulate action Affective (Advertising Objective) - gain interest or liking Aptitude - inborn physical or mental potential or natural ability for learning and proficiency (ex: cognitive abilities, IQ, and verbal abilities) Assurance - includes competence, courtesy, credibility, and security Baby Boomers - age 54 - 72 Behavioral (Advertising Objective) - stimulate action Behavioral Segmentation - the market is divided based on differences in the core benefits customers seek, usage situations, brand loyalty, usage rates and price sensitivity Brand Awareness - consumers know about the brand Brand Equity - Brand loyalty is transferred to new products (ex: all of my electronics are apple) Brand Image - consumers have an impression about the brand Brand Loyalty - consumers purchase only their favored brand (ex: I only buy iPhones) Break-Even Volume (BEV) - fixed costs / (price - unit variable cost)Buyer Persona - portrayal of the ideal customer Buyers - purchasers Cash Cows (BCG Matrix) - High market share but low growth Channel Performance - customer reach (volume), operating efficiency (cost to serve), and service quality (retention) Chapter 1 - Marketing Strategy Chapter 10 - Services Marketing Chapter 11 - pricing strategy Chapter 12 - promotion strategy