Exam 1

1
Exam 1

• Next Tuesday Sep 23, 2008
• Chapters 1, 2, 3, 4, 5 1 HBR articles.
• The test is worth 20 of your grade.
• 40 multiple choice questions worth 120 points 8
  short answer questions worth 80 points.
• Material from the text, class discussions, and
  the reading material.
• 30 definitional 70 application-oriented
  Implications Take-aways

2
Components of MC Questions from Exam 1

• Chap 1 - 8 Questions
• Chap 2 - 7 Questions
• Chap 3 8 Questions
• Chap 4 - 7 Questions
• Chap 5 - 10 Questions

3
Examples of definitional questions

• Define marketing?
• What are the marketing mix factors?
• What are the components of marketing strategy?
• What is inflation?
• What is a recession?

4
Definitional question - Example

• The four types of utilities that a marketer tries
  to satisfy are
• a. form, place, time, and ownership.
• b. form, price, time, and ownership.
• c. possession, time, place, and ownership.
• d. product, place, price, promotion.
• e. product, idea, service, good.

5
Example Question

• Perception is reality is an important axiom
  that every marketer should adhere to. This
  concept was explained in class using the
  following example
• a. Walmart.
• b. Martha Stewart and K-Mart.
• c. The Wonderful World of SPAM
• d. Pringles.
• e. New Coke.

6
Applied Question

• Last summer, P. Diddy family had to make the
  decision of whether to buy a new car, go to the
  seashore for a couple of weeks, or redo their
  game room. They chose the beach. This decision
  illustrates ________ form of competition.
• A. Direct
• B. Indirect
• C. Budget (or general)
• D. Discretionary

7
Applied Question

• Last summer, P. Diddy family had to make the
  decision of whether to buy a new car, go to the
  seashore for a couple of weeks, or redo their
  game room. They chose the beach. This decision
  illustrates ________ form of competition.
• A. Direct
• B. Indirect
• C. Budget (or general)
• D. Discretionary

8
Applied Question

• The Hanna Group is a family-owned business based
  in Lenexa, KS. They sell many varieties of
  machines, including soda machines, snack and food
  vending machines, and machines that dispense
  "sundries" such as travel sized tubes of
  toothpaste and other small personal items. The
  primary utility provided by these machines is
  ______ utility.
•  a. place.
• b. form.
• c. possession.
• d. ownership.

9
Applied Question

• The Hanna Group is a family-owned business based
  in Lenexa, KS. They sell many varieties of
  machines, including soda machines, snack and food
  vending machines, and machines that dispense
  "sundries" such as travel sized tubes of
  toothpaste and other small personal items. The
  primary utility provided by these machines is
  ______ utility.
•  a. place.
• b. form.
• c. possession.
• d. ownership.

10
Applied Question

• When DataComp Corp., a computer manufacturer,
  delayed the introduction of its high powered
  computer called "MACRO" to modify the computer
  design and change the warranty clauses, magazine
  advertisements that were scheduled to be printed
  announcing the launch of MACRO had to be revised.
  In this case, a change in the ___________
  variable caused changes in the ___________
  variable of the marketing mix.

11
Answer Choices for the previous question

• a. distribution promotion
• b. distribution price
• c. production promotion
• d. product promotion
• e. promotion price

12
Answer Choices for the previous question

• a. distribution promotion
• b. distribution price
• c. production promotion
• d. product promotion
• e. promotion price

13
Applied Question

• Boldnew, the maker of a highly innovative light
  bulb, finds that it has excess inventory. Boldnew
  decides to use personal selling and advertising
  to convince customers to buy their bulbs. So, the
  firm increases its advertising budget by 50
  percent and doubles its sales staff to pressure
  the consumers to buy the product. This company is
  operating as if it were in which of the following
  paradigms?

14
Answer Choices for 3

• a. Production orientation.
• b. Sales orientation.
• c. Marketing orientation.
• d. Customer orientation.
• e. International orientation.

15
Answer Choices for 3

• a. Production orientation.
• b. Sales orientation.
• c. Marketing orientation.
• d. Customer orientation.
• e. International orientation.

16
Short-answer questions

• Define perception? What are the various steps in
  a perception process? Why should perception
  matter to marketers?
• What are the two main take-aways for you from
  Article 1?