UPenn Marketing 101 Quiz 1

question

Unit Contribution Formula
answer

Revenue per Unit – Variable Costs per Unit
question

Contribution Margin Formula
answer

Unit Contribution/Revenue per Unit (in %)
question

Break-Even Volume Formula
answer

Fixed Costs/Unit Contribution
question

Market Share Formula
answer

Firm Sales/Total Market Sales
question

Profit Formula
answer

(Unit Contribution*Units Sold) – Fixed Costs
question

Customer Lifetime Value Formula
answer

Annual Contribution per Customer*Years as Customer
question

Annual Contribution Formula
answer

Unit Contribution*Units per Customer per Year
question

Five Cs of Marketing (Strategic)
answer

Company, Customers, Collaborators, Competitors, Context
question

SWOT
answer

Strengths, Weaknesses, Opportunities, Threats
question

Four Ps of Marketing Mix (Tactical)
answer

Product, Promotion, Price, Place
question

Need
answer

A discrepancy between actual and ideal state
question

Four Basic Needs
answer

Esteem, Control, Belonging, Meaningfulness
question

Multi-Attribute Model
answer

Attitude Towards Brand = Sum(Belief Strength*Importance of Attributes)
question

Scale: Belief Strength
answer

-3 to 3
question

Scale: Importance of Attributes
answer

1 to 7
question

Heuristics
answer

Rules of thumb; Price, habit, normative, more is better
question

Satisfaction Formula
answer

f(Perceived Performance – Expectation)
question

Disconfirmation
answer

A +/- discrepancy between expectations and a product’s performance
question

Cost per Mille (CPM)
answer

(Cost/No. of Viewers)*1000
question

Segmentation
answer

Breaking down an audience into various groups to better target each, improve satisfaction, etc.
question

Types of Segmentation
answer

Geographic, Demographic, Psychological, Psychographic (Lifestyle), Sociocultural, Behavioral, Hybrid
question

Criteria for Good Segments
answer

Homogeneous within, heterogeneous between, substantial, operational
question

Targeting
answer

Directing a marketing campaign at a specific segment(s)
question

Positioning
answer

To (target segment and need), our (brand) is the (concept) that (point to difference)
question

Goal of STP
answer

Target a group, extract max value from customers, retain customers, improve CLV
question

Variable Costs
answer

Change with volume of production (e.g. – manufacturing, shipping, sales commissions)
question

Fixed Costs
answer

Stay the same regardless of level of production (e.g. – executive salaries, rent, insurance, overhead)
question

Contribution Margin
answer

Relative measure of assessing unit contribution compared to selling price (expressed as a percentage)
question

Break Even Volume
answer

The number of units you need to sell to cover total fixed costs
question

Sales/Revenue/Volume Market Share
answer

The percentage of (sales or units) accounted for by that firm within the product category
question

Customer Market Share
answer

The percentage of customers the firm has relative to the total customers
question

Profit Impact
answer

Impact of a product on company profits
question

Customer Lifetime Value
answer

The value of the entire stream of purchases that the customer would make over a lifetime of patronage
question

Annual Contribution
answer

Average amount that a typical customer would spend with the business, with expenses subtracted
question

Sunk Costs
answer

Money spent on items that is considered unrecoverable (e.g. – market research, R&D, past expenses)
question

Return on Investment
answer

Measures the profits generated by investments in marketing activities
question

Return on Investment Formula
answer

Net return from an investment/Costs of investment

Get instant access to
all materials

Become a Member