M3305 Study Guide for Exam 2
Class, the exam will consist of 75 multiple choice questions based on:
Text and slides for chapter 10-16
(terms, concepts, categories, and frameworks)
The exam will be closed notes/closed book and you will need to bring a pencil.
The level of difficulty will be
moderate to highly difficult (as I said in class, probably more so than Exam 1) and require you to
understand/remember: important definitions, concepts from class thus far, as well as distinguish them from each
As you are studying, remember
scoring your desired grade (although that may be one
outcome) but rather that the time and effort you spend helps you achieve the first 3 course objectives:
Learning the “language of marketing”
Understand marketing’s philosophies, logic, and major decision areas.
: not all of the topics below will be on the exam, but you can be confident that topics outside what you find
below will not appear.
If a concept appears below, you can assume you need to know all key aspects of the topic …
definitions, sub-categories, important terms that fall under that category, being able to recognize examples, etc…
really anything except specific examples used in the text or in class
Ch. 10: Target Markets: Segmentation, Evaluation, and Positioning:
Product positioning and re-positioning (definitions, perceptual mapping, bases, re-positioining)
Product Positioning – refers to the decisions and activities intended to create and maintain a certain concept
of the firm’s product in the customer’s mind. EX marketers introduce a product and try to position it so that
it appears to have the characteristics that the target market wants.
Perceptual Mapping – the result of the customer’s perceptions of the product’s attributes relative to those of
competitive brands. EX How consumers view a specific product
Base Positioning – marketers can use several bases for positioning products.
Using Competitors – positioning a product to compete head-on with another brand EX Pepsi-cola
vs. coca-cola or splenda – made from sugar
Avoiding Competitors – may be best when the product’s performance characteristics don’t differ
from competing brands or when it has unique characteristics. Critical when a co introduces a
brand into a market which one or two already exist. Can be based on attributes or features, or
price, quality level and or benefits. EX Volvo focusing on safety characteristics, apple i-pod,
Re-positioning – for new and old products - can be accomplished by physically changing the product, its
price, its distribution or different target market. EX Kraft changing the cheese-whiz marketing strategy
Target markets and selecting them
Target Markets – a group of people or organizations for which a business creates and maintains
a marketing mix designed to satisfy the needs of group members.
Target Market Selection Process