{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Midterm 1 - Test Questions for Marketing Midterm#1 1...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Test Questions for Marketing Midterm #1 1) Application of 4p model. Not always the symmetrical shape it starts as. a. Place, Product, Promotion, Price b. Customer is the main focus of 4 P’s and is in the middle of the model. c. Founder = Jerome McCarthy d. 4 P’s is an average. Many companies focus on one area more than 2) Pure competition is the last place you want to be if you are a manager. You want to be in a monopoly . Oligopoly = 7 companies or less control 75% of market. 3) MUST RELATE THE CONCEPTS!!!!! 4) GNP a. Formula, yield, variables, relationship to one another i. GNP= Sum of (C + I + G +S +NFI) C =Consumption I = Investment of Industry G = Government S = Savings NFI = National Foreign Investment b. Levels of GNP M1 = savings and credit M2 = stocks M3 = Real Estate and Bonds c. Is a linear function d. What is contained in the variables e. What the relationship of one to another is 5) Marketing mix a. Special meaning, know what it involves. The controllable variables. The 4p’s b. Relationship!!!!! c. Components of d. What skills have we associated thus far with the mm e. How to apply and why would you? To what end? f. How customers relate to the MM i. Customer is not part of the marketing mix but they are the focus of the marketing mix as the Target Market. 6) Market Concept a. What it is, what the components are, what it does i. Philosophy to guide the whole firm to satisfy the needs of the customer.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
ii. Useful to discover customer need and then decide If we can provide the solution and make a profit off of it.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}