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FINAL EXAM (MRK 108 Dec 2014)

2nd Half Term Review Sheet
Chapter 4
What is MKT Reseearch?
Wjhat are the 3 roles of market research?
Identify the steps invloved in the MHT Research process?
Explain the difference between Primary and Secondary data?
What is a survey?
Whart are some the various methods used to survey?
What is an open ende vs a close ended question?
What does observational research refer to?
What is a survey and why is it useful to marketers?
What does sampling mean and wha is the differenc between Probability and NonProbability sammplibg?
How is the internet impacting on Market research?
What is competitive intelligence?
Chapter 5
Provide several reasons why it I s useful for a marjeter to study ciumber behaviour?
What are the 5 steps involved in the Cosumer Decision Making Process?
What are t he 2 types of stimuli in Step #1?
What are the 2 main sources of gathering info in Step #2?
What dore the term evoked set mean?
What does cognitive disonance refer to in Step#5?
What are the 3 types of cosnsumer buyiing decisions?
What are the 4 main groups of factors that can influnce consu,mer buying decisions?
What are the 3 types of perception?
What is Maslovs Heirarchy of needs?
Chapter 6
Provid does Business Marketing refer to?
Identify a numbe rof differencs between Business markets and Consumer Markets?
Who/what are the 4 main categories on business market customers?
Chapter 10
Why are new products important?
What are the 6 categories for new products?
Identify in order, and explain the 7 steps in the New Product Development process?
What is a key global issue for new product development?
Know the 4 stages of the Product Life Cycle (PLC)?
What is the Adoption Curve all about and

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What characteristics in a product will help it be more quickly accepted (adopted) by
consumers?
Chapter 12
What is the difference between a Marketing Channnel and a Supply Channel?
What does Supply Chain Managemeny refer to & what are its logistical components?
What are intermediaries and how do they add value the Supply Chain?
Identofy some of the discrepancies in the channel that need to be overcome?
What are the marketing functions performed by intermediaries to overcome these
discrepancies?
Wht are the 2 channel markets?
What are the 2 main types of channel systems?
What are some of the factors that affect channel choices
Identify the 3 levels of distribution intensity?
What is meant by channel conflict, what are the 2 types and who handles the conflict?
Chapter 14
What is promotion?
What are the elements or tools of promotion and describe them?
What is meant by the marketing mix?
Explain the Communication Process?
How has the internet affected marketing communication?
What are the 3 goals/tasks/objectives of promotion?
What is the A.I.D.A. nodel?
Identify some of the factors that affect the promotional mix?
What does IMC (Integrated Marketing Communication) refer to?
Chapter 18
What is price?
What is the formula for Revenue?
What is the formula for Profit?
Identify and be able to explain the 3 types of pricing objectives or goals?
How does Demand and Supply work and be able to graph it?
What are the basic laws for demand and supply?
What is meant by the concept of Elasticity of Demand?
Can you name the factors that can influence a products elasticity?
What is YMS (Yield Management System)?
What are the two main categories that make up Total Cost?
Can you ID the formula for the Breakeven Point in Breakeven Analysis?
How is price affected by factors such as PLC, demand, competition, etc?
Chapter 19
What are the steps involved in setting the right price for a product?
What is meant by a Price Strategy?

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What does price skimming mean?
What does price penetration mean?
Can you identify several different types of illegal pricing practices?
What are some of the ways to discount a price?
How does geographic pricing work?
What is meant by value based pricing?
Can you identify some of the other tactics used to change the price of a product?

2nd Half Term Review Sheet

Chapter 1
What is marketing & what is meant by Exchange?
The 4 marketing management philosophies are?
Differences between sales oriented and market oriented include?
What is relationship marketing?
What are the 5 elements of a Market Strategy?
Chapter 2
What is environmental scanning?
What are the external (market) environments also know as variables, forces and factors?
What is Corporate Social Responsibility?
Chapter 3
What is Strategic Planning?
What is a Marketing Plan, what does it consist of, and why is it prepared?
What is S.W.O.T?
What does competitive advantage mean?
What is the BCG Portfolio Matrix all about?
What does the Strategic Opportunity matrix refer to?
Identify the 3 strategies for Target Marketing?
What are the 4 Ps of marketing (i.e. the marketing mix)?
What are the 5 elements of a Market Strategy?
Chapter 7
What
What
What
What
What
What
What
What
What

is a market?
does market segmentation reefer to and why is it important?
are the steps involved in the market segmentation process.
are the 4 criteria for evaluating good segments?
are the various types of bases or variables used to segment a market?
is the difference between a Consumer market and a Business market?
are the strategies for selecting target markets?
is one-to-one marketing?
is Positioning refer to?

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Chapter 9
What is a product?
What are the 4 classifications of consumer products?
What do the terms product items, lines, and mixes refer to?
What are t he ways to modify products?
What does branding mean and is it important to firms?
What are the various types of branding strategies?
What are the benefits of packaging?
How do warranties help?