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USU MSLE 3500 Final Study 2022

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Know the three ways that people make purchase decisions. Reflexive Choice Responsive Choice Cognitive Choice The research tool used to test new ideas that haven't yet been made is called what? Segmentation research 00:25 01:15 What does doing market research accomplish? Eliminates bias and gives you a truthful snapshot of the marketplace and consumers Know the differences between Primary and Secondary research. Primary- Designed to develop quantitative, projectable data Secondary- Research someone else has already done Know the differences between quantitative and qualitative research. Quantitative- Research someone else has already done Qualitative- Research done on a few people Know what an Operating Charter is and the sections within it. This document to carefully construct a type of internal business government, complete with checks and balances 1. Scope- Defines the parameters 2. Primary objectives- clearly stated roles 3. Secondary objectives- roles that are "hoped for" but not mandatory 4. Aspirations- dreams you hope your work can accomplish 5. Quantifiable measures of success- quantifiable means you will use to track whether you are accomplishing what you set out to do 6. Constraints- external factors you cannot control that could negatively influence your ability to meet all the objectives as stated above Know what Segmentation research is used for. Identify consumer needs Know the parts of a working mission statement 1. List the core ideas that you think sum up your job activities. 2. List a core principle for which you will stand. 3. Write down whom you are working to help.

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USU MSLE 3500 Final Study



According to Salesforce, how many digital touch-points does it take on-average before a consumer
makes a purchase? - ANSWERsix to eight interactions.



Be able to explain Contextual Targeting. - ANSWERDelivers relevant advertising to users from the type of
content they consume online



How long does it take for a typical ad campaign to get "on-air" from it first being assigned to the agency?
- ANSWER6-8 months



How much of a brand's marketing budget should be set aside to pay the agency (percentage). -
ANSWER20%



How much of a premium percentage are most consumers willing to pay for their favorite brands before
they start looking around? - ANSWER20-25%



If a company has excess manufacturing capacity, what things should they do to try to increase
production? - ANSWERlicensing



In what ways do retailers try to subliminally manipulate you? - ANSWERinformation

time

space

human energy

expertise

fun

fear

, frustration

convenience

love

quality

money



Know how to interpret a Brand Development Index - i.e. what does an index of 82 mean? -
ANSWERBrand sales in a certain area in relation to population. Brand Sales Area/Population



Know the 13 Virtues of Meaningful Marketing and what they mean. - ANSWERLearn- Become Smarter

Pioneer-Lead Market. Leave copy to those w/out originality

Overtness- Let a customer say no if what you offer does not apply to them but never let a customer say
no if they don't understand what OVERT benefit you are offering

Clarty- Strive for self evident clarity in all communications

Focus- Eliminate the irrelevant

Credibility- Continually enhance customer trust

Authenticity- Communicate with honesty and integrity

Demonstrate- Let your product service or idea talk for itself

Persentance- Never give up when you are pursuing the right thing the right way

Measurement- Quantify your goals and systems

Service- Dedicate yourself to serving the needs of your customers

Write- Use the written word to define and refine your thinking

Courage- Be bold, Be brave, leave a legacy



Know the attributes associate with the different

"thinking styles" i.e. Yellow - Creative, Blue - Analytical, etc. - ANSWERyellow- creative

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