Review: Ch 1
Exam 1 Review
There are 34 multiple choice questions on the exam and two short answer. The questions consist mostly of definitions and applications.
General Topics covered:
(Note These Are Broad Categories From Your Book/Slides; You Are Responsible For The Detailed Information Within The Categories)
Definitions of key terms (drawn from every chapter, e.g., the marketing concept; perceptual map)
Consumer vs. Business-to-Business markets
The Marketing Mix
Strategic planning
Strategic business units
Business portfolio planning
BCG Matrix
Growth strategies
SWOT analysis
The environment (e.g., what is in the competitive environment)
Segmentation (including the various ways to segment the market)
Targeting (e.g., steps)
Positioning
Brand personality
Consumer Behavior
Steps in the decision making process: problem recognition, information search, evaluation of alternatives, product choice, postpurchase evaluation
Commonly used heuristics in purchase decision process
Internal influences: Perception, Motivation, Personality, Attitudes, Personality, Age, and Lifestyle
Physical Environment: Arousal, Pleasure, Time
Social Influences: Culture, Reference Groups, Social Class
The film in class (Merchants of Cool)
Sample items:
According to the BCG growth-share matrix, _____ are strategic business units with products that have a dominant market share in a low-growth market.
a. dogs
b. exclamation points
c. cash cows
d. stars
e. question marks
In 2002, Wendy’s announced plans to buy a chain of Mexican food restaurants. Wendy’s International, the nations’ third largest hamburger chain, purchased the 169-restaurant Baja Fresh chain to appeal to consumers who do not like fast food. Wendy’s used a _____ strategy.
a. market development
b. product penetration
c. market penetration
d. diversification
e. product development
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