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test 1 study guide - Demographics Generational cohorts...

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MKTG 350 Test 1 Study Guide Chapter 1 Marketing definition Core aspects of marketing(exchange, product/serv, businesses/individuals, etc.) Marketing mix – components of Supply chain management Value Production oriented, sales oriented, marketing oriented, value-based eras Value driven companies How to improve value Chapter 2 Marketing strategy – components of Sustainable competitive advantage Target market 4 macro strategies (exh 2.1) Growth strategies - penetration, marketing development, etc 3 phases of strategic marketing process (planning, implementation, etc) SWOT STP – understand all terms in these sections BCG portfolio analysis – components and axes Chapter 3 Marketing ethical issues Creating an ethical climate (3 things) (section 005 only) Corporate social responsibility Exhibit 3.9 – ethical decision metric (6 tests) Chapter 4 Customer is at center of mktg environment 3 components of immediate environment Competitive intelligence Macro-environmental factors Country/regional culture
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Unformatted text preview: Demographics Generational cohorts Buying characteristics of generational cohorts Gender and gender roles Ethnicity – and specific characteristics of each group Time proverty Currency exchange rate, interest rates, inflation Political legal environment: FDA, Wheeler-Lea Act, NAFTA, Sherman Anti-trust Act, Robinson-Patman Act Chapter 5 5 steps in consumer decision making process Psychological and functional needs Internal and external search Factors affecting search Locus of control Family/reference group/cultural influence Attitude- how learned, how to change Cognitive dissonance Satisfaction and dissatisfaction Universal/retrieval/evoked set Heuristics Determinant attributes 6 shopping situational factors influencing decision process 3 types of risk Involvement Extended and limited problem solving Compensatory and non-compensatory decision rules Convenience/shopping/specialty goods 6 principles of persuasion (section 005 only)...
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