Test Review

1
Test Review

• Book Chapters
• Introduction Ch. 1
• Marketing Strategy Ch. 2
• Strategy Marketing Ethics Ch.3 4
• Consumer Behavior Ch. 5 in new edition / 6 in
  old ed.
• Consumer Behavior Ch. 6 in new edition / 7 in
  old ed.
• Segmentation, Targeting Ch. 9 in new ed. / 10 in
  old ed.
• Lectures Notes for Lectures 1-6
• 40 MC questions
• 5 short answer questions
• 1 essay
• 6-9 questions per chapter.
• Definitions, interpretation, lecture.
• Most important Four Ps, five decision steps
• Least emphasis Ethics, organizational buying

2
Annoucement

• Bring your own scantron. Bring an extra for an
  emergency.
• FORM No. 882-E

3
Disclaimer

• The review you are about to view will only
  provide HINTS. You are responsible for the
  entirety of all chapters and all lectures and
  in-class discussions. Questions will be asked
  that are NOT in this review!!!!!!!
• Especially in chapter 5, focus on all definitions
  and be able to distinguish different categories.

4
Essay topic

• 1. Relate the job search and interview process to
  the strategic marketing process. Make sure to
  touch on SWOT, market-product focus, goal
  setting, marketing program, implementation, and
  control.
• 2. List and discuss some ways to counter TV
  viewers skipping commercials using DVRs. List at
  least three ways and at least one original way
  (you will be evaluated on originality).
• 3. Consider the following situation Discuss the
  ethical considerations from the perspectives of
  moral idealism and utilitarianism.

5
Short answers

• List the ways that organizational buying is
  different from consumer decision making.

6

• Ch 1
• 4 Requirements for marketing to occur
• 2 or more parties with need, desire and ability
  to satisfy, a way to communicate, something to
  exchange
• Marketing Mix 4 Ps
• History Production era, sales era, marketing
  concept era, market orientation era
• Environmental factors
• Ch 2
• Corporate strategy, business unit, functional
  strategy
• BCG Matrix
• SWOT analysis
• 3 Phases of the strategic Marketing Process
• Planning, implementation, Control

7

• Ch. 3
• Environmental Scan
• Competitive Spectrum Components of Competition
  (pp. 88-89)
• Legislation Sherman Act, Clayton Act,
  Robinson-Patman Act (p. 90)
• Terms For example Gross income, disposable
  income, discretionary income.
• Ch. 4
• Cause Related Marketing
• Sustainable Development / Sustainable Growth
• The definition of laws, code of ethics
• Price discrimination
• Three concepts of societal responsibility (p.
  109)
• Societal, stakeholder, profit responsibilities
• Moral philosophy moral idealism vs.
  utilitarianism

8

• Ch. 5 in new ed. (6 in old ed)
• High versus low involvement when, why, how?
• Five steps in Purchase decision process
• Hierarchy of needs
• Classical conditioning vs. operant conditioning
• Behavioral vs. cognitive learning
• Influences on consumer decision Psychological,
  socio-cultural, situational

9
Influences on the consumer purchase decision
process
Marketing mix influences

• Product
• Price
• Promotion
• Place

PsychologicalInfluences
SocioculturalInfluences
Consumer Decision Process
Problem recognition Information
search Alternative evaluation Purchase
decision Postpurchase behavior

• Motivation
• Personality
• Perception
• Learning
• Values, beliefsand attitude
• Lifestyle

• Personalinfluence
• Reference groups
• Family
• Social class
• Culture
• Subculture

Situational Influences

• Purchase task
• Social surroundings
• Physical surroundings
• Temporal effects
• Antecedent states

10
Ch. 6 in new ed. (7 in old ed)

• Figure 6-3 (7-3) Key characteristics
• Terms For example Derived demand, reverse
  marketing
• Buying situation (3 types)? Buying center
  behavior -- figure 6-4 (7-5)
• Roles in the buying center Initiator,
  influencer, gate keeper, buyer, user, decision
  maker
• Different price determination mechanisms
  markets, reverse auctions, forward auctions, etc.

11

• Ch. 9 in new ed (10 in old)
• Definition of market segmentation
• Steps in segmentation
• Ways to segment
• Market-product grid
• Cross-tabulation
• Interpreting Cross-Tabulations row percentages
  and column percentages
• Perceptual maps
• Positioning repositioning