MKTG Final Study Guide
- 35 objectives- 3pts/ea.
- 2 short essays- 60pts/ea. (View Discussions in book to assist with answering)
Chapter & Page Number
84 Social media
The term social media refers to content distributed through online
1. Describe how the marketing of services differs from the marketing of products.
Services are intangible, inseparable, variable, and perishable, services cannot be seen or touched
which makes it harder to commu
1. Understand the importance of marketing channels and supply chain management.
Marketing channels allow companies to get products to appropriate places in the right quantities
to meet demand, to meet demand adv
1. Describe the components of a country market assessment.
Involves assessing the general economic environment of the country, the countrys
infrastructure, determine whether the proposed country has a political/l
1. Describe the components of a product.
Product itself is important along with the services associated with it such as support and
financing. Core customer value is also important and comprised of the brand nam
1. Identify the components of the communication process.
Communication process starts with sender (provides message to transmitter that
develops/encodes message for transmission through communication channel),
1. Define the role of marketing in organizations.
Marketing is used in organizations to determine how the product or service will be
made/designed, how much it should cost, where/how it will be promoted, and how i
1. Describe the 4E framework of social media marketing.
The 4E framework says marketers have to hold customers interest with relevant offers, educate
them about the offers, help them experience the products (directly o
1. List the four pricing orientations.
Profit oriented focuses on maximizing or at least reaching a target profit for the company, sales
oriented focus sets prices with the goal of increasing sales levels, compe
Marketing in organizations:
Marketing: creating, capturing, communicating, delivering and exchanging offerings that have value for
customers, clients, partners, and society at large.
Marketing strategy identifies: a firms target markets, a relat
Part 3 marketing practice
How to achieve customer value?- It's the relationship between benefits and the sacrifice
necessary to obtain those benefits. Be realistic because customers value goods and services that are the
quality they expect at a price they
Part 2 marketing practice
4 Marketing philosophies-Production Oriented
Societal Marketing Oriented
Production Oriented- focuses on the internal capabilities of the firm rather than on the desires and
needs of the marketplace
1-5 Segmentation Approaches
Segmentation is about identifying basis (buyer characteristics)
and subdivide market based on market potential.
Geographic segmentation is based on regional variables such as region, climate,
Industry Analysis Part A
Porters 5 Force
Threat of New Entrants (Instructor Note: You can write in paragraph format, or after you introduce the
section, you can use bullet points with appropriate citations)
In the pharmaceutical market c
LECTURE 4: CONSUMER BEHAVIOR AND MARKET RESEARCH
The Consumer Decision Process
75 minutes (Do not be late!)
Closed book, closed notes.
Please bring Pencil, Green Scantron and Calculator.
Exam content: Ch1, 2, 5, 6, 10, Porters 5 forces (slides in CH5 folder on course website),
Industry growth and ma
LECTURE 3: ASSESSING THE ENVIRONMENT
Idea and Objectives of Porters 5 Forces
Structure -> Conduct -> Performance
To understand competitive intensity
Understand where the power lies
Understand industry profitability
To measure market attracti
When Ramona, the keynote speaker at a major business leaders' conference, arrived in the
middle of the night at the Ritz-Carlton, she was exhausted and her suit was wrinkled from her
10-hour plane trip. The night clerk found someone to dry clean Ramona's
MKTG CH 9: Q&A from HW:
Which of the following factors must be met in order to define a market segment as attractive? It
must be_reachable, identifiable
The _ strategy must be consistent with and derived from the firms mission and objectives, as
well as i
Marketing- activity, set of institutions, and processes for creating, communicating, delivering and
exchanging offerings that have value to customers, clients, partners, and society at large
Two facets of marketing-1) attitude or perspective that stresses
1. Articulate the steps in the consumer buying process.
5-step process; 1. need recognition (when consumers recognize that they have an unfulfilled
need or want) 2. search for information (when consumers determin