Mkt 351Winter 2011 -- Study Guide 1

Mkt 351Winter 2011 -- Study Guide 1 - MKT 351 First Exam...

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MKT 351 First Exam Review For Exam on February 15, 2011 Chapter 1: Introduction and Review of Marketing Concepts The Four Approaches to explaining Consumer Behavior: (1) descriptive (2)experiential (3)decision process (4)behavioral influence (disregard Exhibit 1.1) Marketing Concept Marketing Opportunity (5 requirements) DO NOT CONFUSE THESE WITH THE FOUR SEGMENTING CRITERIA Marketing mix is the A four p's @ Chapter 2: "Wheel of Consumer Analysis @ The gist of this chapter is that we study three broad sets of things: (1) Internal factors [Affect and Cognition] ; (2) Behavior ; (3) Environmental variables. Why is overt consumer behavior usually the preferred starting point for analysis? Chapter 15: Market Segmentation Market Segmentation has a set of tasks (Steps) in "doing" market segmentation (in class we added two steps before those listed in the text) Analyzing consumer product relationships is the step which is most crucial to understand . There are FOUR criteria necessary for a worthwhile market segment (There will be a question about what these mean. Be sure to consider these from the view of the business identifying and reaching the consumer. Don = t confuse the four segmenting criteria with the five characteristics
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This note was uploaded on 04/05/2011 for the course MKT 351 taught by Professor Kraft during the Winter '11 term at Grand Valley State.

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Mkt 351Winter 2011 -- Study Guide 1 - MKT 351 First Exam...

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