MKT 315 Final Exam Strategic Tools for Marketers –Vermillion (Latest Update) 2020/2021

MKT 315|Final Exam Strategic Tools for Marketers –Vermillion YOUR NAME:____________________________ Final Exam Strategic Tools for Marketers –Vermillion Take Home Exam Due via dropbox on 6/7 by 9:00pm You MUST have questions on exam - simply fill in your answers in a different color than blue. MUST WORK ALONE 1. How do you tie Perceptual Mapping and Conjoint Analysis together when presenting be specific? (5 pts) 2. Define Perceptual Mapping and Conjoint Analysis. (4 pts) 3. What is the problem with conventional marketing? (4 pts) Use the chart below to answer questions 4-8 4. If I was a marketing manager - what is the ideal or best TPU product for chart – be sure to list feature level and utility? (4 pts) 5. Tell me why I am crying if I am the Ford, Chevy or Dodge brand manager? (3 pts) 6. What can you tell me about price, style and material? Explain your answer!(10pts) (Make assumptions about numerical value of style and material. Hint: the SUVs cost consumers as follows: Small SUV $10,000, Midsize $20,000, and Large $30,000, consumer pays following for each material - Vinyl $200, Fabric $300, and Leather $400) 7. What is the most important thing you can tell me about a $40,000, Large SUV, Vinyl, Ford? (2 pts) 8. Calculate Market Share for the following SUVs. (15pts) You MUST show your work! Product A: 30,000, Midsize, Leather, Ford Product B: 30,000, Midsize, Vinyl, Chevy Product C: 50,000, Large, Fabric, Dodge 9. How many total profiles would the following features and levels create –(only give one number!!!)? (3 pts) Material: linen cotton denim Color: blue red white Style: hip square classic Sleeves: long short 3/4 Neck: V polo button down Use the perceptual maps posted on Blackboard under Course Documents and named “Final Exam Maps” as a guide for the following two questions: 10. List the order of Brand Preference for drinks on the perceptual maps. Explain. (5 pts) 11. If you were the marketing team for Fresca and wanted to reposition Fresca to be a preferred soft drink competing with 7-Up and Sierra Mist what would you do? Be specific. (15pts) 12. Where are the coordinates for attributes on the SPSS output? (2 pts) 13. Where are the coordinates for brands on SPSS? (3 pts) 14. How do you know what recommendations should be considered strong recommendations when doing a Perceptual Mapping and Conjoint Analysis project for a company? (10 pts) 15. What does TVE mean? (2pts) (explain meaning not just what letters stand for) 16. Rescale the following output that has been run through Regression Data Analysis? (5pts) Intercept 4.32 X1 - $100 3.7 X2 - $200 1.2 X3 - 10mpg -.98 X4 - 20mpg .21 X5 – Silver 3.2 X6 – Black 2.1 X7 - $300 0 X8 – 30mpg 0 X9 – Red 0 17. Explain what TPU means. (3pts) (Not just what letter stand for) 18. A high tech company is trying to find out how important certain attribute levels are to customers. What tool would be best to help them understand the most important attribute levels? (5pts)