MKTG
MKTG 6162 EXAM STUDY GUIDE.docx

Marketing little m tactical marketing which serves

Info icon This preview shows pages 2–4. Sign up to view the full content.

Marketing (little m) Tactical marketing, which serves the firm and its stakeholders at a functional or operational level. Name and explain the 4 P’s of the marketing mix. Mid-1960s Product, Price, Place, Promotion Today: more sophisticated view of 4Ps Products are offerings; focus is on solutions Place is complex supply chains Price is viewed as value; Benefits/price U nderstand importance of marketing metrics Marketing is a fuzzy field If it can’t be measured, it can’t be managed Is marketing an expense or an investment? CEOs and stockholders expect marketing accountability Chapter 2 (Marketing Strategy, Planning and Competition): Define utility and the four types Utility the want satisfying power of a good or service Form Utility - created when the firm converts raw materials into finished products that are desired by the market. Time Utility - created by marketing Place Utility - created by marketing Ownership Utility - created by marketing *Created when products are available to customers at a convenient location Identify five primary activities in the value chain 1. Inbound Logistics 2. Operations 3. Outbound Logistics 4. Marketing and Sales 5. Service Understand objectives, external and internal environments, SWOT analysis Objectives Benchmark by which organizational performance is accessed External Environments Threat of New Entrants Rivalry among existing firms Threat of substitute products Bargaining Power of Buyers
Image of page 2

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

Internal Environments Firm Structure and Systems Firm Culture Firm Leadership Firm Resources SWOT Analysis Strengths, Weaknesses, Opportunities, and Threats Internal Strengths and Weaknesses External Opportunities and Threats Identify how manager can develop successful marketing plans 1. Perform Market Research 2. Establish Marketing Goals and Objectives 3. Develop Marketing Strategies 4. Create an Implementation Plan including Forecast, Budget, and Marketing Metrics 5. Develop Contingency Plans Chapter 3 (Marketing Information): Define marketing information systems and market research (MIS) is not a software package but a continuing process of identifying, collecting, analyzing, accumulating and dispensing critical information to marketing decision makers. Understand steps in the market research process. 1. Define the Research Problem 2. Establish the Research Design 3. Search Secondary Sources 4. Collect the Data 5. Analyze the Data 6. Report the Findings What are primary and secondary research, qualitative and quantitative research, and techniques to do this research? Data Collection Focus Group In-depth Interview Surveys Behavioral Data Observational Data Open-ended questions Closed-ended questions Chapter 4 (Business-to-Consumer Markets): Consider internal attributes (personal, psychological) and external factors (culture, situational, social) which influence consumer decision making. Why use these attributes when creating marketing programs?
Image of page 3
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.
  • Spring '14
  • JamesE.Zemanek
  • Marketing, marketing and sales

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern