Mid-Term Exam � Study Sheet by 9DY1zU7

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									Mid-Term Exam – Study Sheet - Marketing Essentials
BRING A #2 PENCIL

125 Points Total
BE SURE YOU UNDERSTAND THE BOLDED CONCEPTS IN DETAIL

Chapter 1 - Marketing: Managing Profitable Customer Relationships

Definition of marketing


Need, wants, and demands


Market


Marketing management


Marketing myopia


Customer Relationship Management


Customer perceived value


Customer lifetime value




Define customer relationship management and its associated strategies for building long-term
relationships



Define and describe the marketing management concept




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Mid-Term Exam – Study Sheet - Marketing Essentials
Chapter 2 - Company and Marketing Strategy

Strategic market planning


Steps in strategic planning process


Mission statements


Market-oriented mission statements


Business portfolio


Product/Market Expansion Grid



Market segmentation



Target marketing



Product positioning



Return on Marketing (ROI)



Define strategic planning. Discuss the steps in strategic planning




Describe the four growth possibilities present on the product/market expansion grid




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Mid-Term Exam – Study Sheet - Marketing Essentials
Chapter 4 - Managing Marketing Information


Marketing research



Marketing intelligence



Internal databases



Steps of the marketing research process



Exploratory research



Causal research



Secondary & Primary data



Survey research



Experiments



Observational research



Sample



Open-end questions & Closed-ended questions



Discuss the steps in the marketing research process



Advantages/benefits of each of the contact methods - mail, telephone, personal interview, online



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Mid-Term Exam – Study Sheet - Marketing Essentials
Chapter 5 - Consumer Buyer Behavior


Buyer decision process


Consumer black box


Culture


Subculture


Cultural shifts


Social classes



Maslow’s hierarchy of needs



Perception



Cognitive dissonance



Adoption process




Identify and describe each of the stages of the buyer decision process




People differ in their readiness to adopt or try new products. Take each of the five adopter groups
mentioned in the text and give a synonym or brief description of each primary characteristic that
sets each particular group apart from the others.




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