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StudyGuideExam1 - What is the underlying principle to the...

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Principles of Marketing Study Guide Exam 1 20085 Chapter 1 Define each and understand the difference between Need, Want and Demand Define Customer Value? Why is it important? What is Customer Satisfaction? What are the implications of customer value and satisfaction when managing the marketing mix? Exchange: What is it, and when can it or can’t it occur? What is Relationship Marketing? Why is it critical to the success of most businesses? What are the fundamental differences among the Production, Sales, Marketing and Societal Marketing Concepts (Orientation)? Chapter 2 What comprises a Marketing Plan? Describe the process of writing a marketing plan. Understand the concept of Target Markets and being Customer Driven What is the Role of Segmenting & Targeting in Developing the Marketing Mix Explain the facets of a SWOT and Environmental Scanning How are competencies and capabilities used to develop competitive advantages? Understand value based versus cost based competitive advantages Know and how do you use Ansoff’s Strategic Opportunity Matrix
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Unformatted text preview: What is the underlying principle to the BCG portfolio Matrix? Why is implementation and control so critical? Chapter 3 Understand each and why they are important to marketing management: Social/Cultural Environment Economic Environment Technological Environment Political/Legal Environment Competitive Environment What is an Ethical Dilemma? Explain morality versus legality and their applications in business Chapter 4 What is the impact of international trade and free trade agreements in particular on marketing efforts of domestic firms, multinational firms and on foreign firms? What are the key issues in determining what international markets to enter? What issues determine the Global Market-Entry Strategy for a firm? What issues are unique to International Marketing from an Environment standpoint and its impact on the Marketing Mix? Understand the unique challenges for each of the 4p’s in the mix....
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