Revised 673 REVIEW GUIDE FOR FINAL EXAM

Revised 673 REVIEW GUIDE FOR FINAL EXAM - MKTG 673 Fall...

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MKTG 673 Fall 2004 Page 1 REVIEW GUIDE FOR FINAL EXAMINATION Note : Exam questions may take many formats including multiple-choice, true or false and state why, fill in the blank, interpret a chart, short answer/definition, or essay (answers of half a page or more). The main areas to be emphasized on the exam are listed below, subject to possible modification as the exam approaches. Questions printed in boldface are possible short or long essay questions. This review guide is subject to revision up to one week before the midterm examination. Changes are shown in red. Note : Except as indicated below, material related to Chapters 10 &11 will not be covered on the examination. 1. What factors does General Electric’s “strategic planning grid” take into consideration in evaluating opportunities for new or existing products? [Not covered in assigned readings.] 2. Some financial analysis terminology you should understand: cannibalization, incremental costs and revenues, risk premiums, required rate of return, sensitivity testing, hurdle rates, sunk costs. 3. What variables does the “Bass diffusion model” incorporate (that is, what three parameters or inputs are necessary to use the model) and what is the model used for? What are its shortcomings in terms of marketing mix planning? 4. How does the “customer flow” forecasting model work, and how does it differ from aggregate diffusion forecasting models? [See handout article.] 5. What alternative techniques or approaches can be used to forecast sales for new products? What does each measure and assume? 6. What does the term “product protocol” mean? Explain its purpose and who should be given the responsibility of creating it.
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MKTG 673 Fall 2004 Page 2 7. What are the contents of a product protocol? 8. What does an “augmented product concept” consist of? 9. Explain the purpose, the nature, and the key components of quality function deployment (QFD) and the related “house of quality.” Is there any evidence that this approach actually works in practice? What type of products would QFD be best for? 10. What is conjoint measurement (or “trade-off analysis”), and what is it used for in the new product process? What are its key assumptions and limitations? 11. Be prepared to: a) Interpret a sample set of utility curves (such as Figure 7-3 in text) generated as output through conjoint analysis.
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