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MKT 667 Exam 1 Review.docx - MKT 667 Marketing Management...

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MKT 667 Marketing ManagementExam 1 Review Spring 2014InstructionsTo prepare for the exam, study the following questions. Be sure to review any models, diagrams,tables, or drawings that will help clarify your answers on the actual exam. The best answers foressay questions will be thorough yet concise. Brief, sketchy answers will not be rewarded with amajority of the possible points (but sheer length does not substitute for quality). You will be able toansweranyquestion format if you thoroughly review the material associated with these questions.1.Describe themarketing concept. How does it relate to our discussion ofmarket orientationDiscuss how the evolution of the concept arrived atrelationship marketing?.
2.Describe and discuss theproduct-market growth matrix(aka alternative corporate growthstrategies). This framework contrasts two dimensions of corporate growth--be sure toinclude these dimensions in your answer, as well as the four general strategies depicted inthe framework.
same and/or similar customersdevelopment depends on firm’sculture and R&D expertise otherstrategiesMarket DevelopmentDiversification- Riskier than market penetration-Riskiest strategy, in most cases- Risk level versus product development depends on:-Combines risk of not under--firm’s capability to expand distributionstanding needs in new markets-marketing research expertise inwith challenges inherent inconnecting with different types ofnew product development

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