Marketing Management (MKTG 4355/5355)



Marketing Strategy (MBA 6308)

Exam 1 - Review

Fall 2007

The exam will be part multiple-choice and part essay, probably 15 – 20 multiple choice questions and one or two written questions. The time to take the test will be 2:00pm – 3:15pm.

Chapter 1

Exchange and transaction (p. 6-8)

What are the 8 eight demand states? (p. 10)

Key Customer Markets: consumer markets, business markets, global markets, nonprofit and governmental markets (p. 11-12)

Know the following terms and their applications: marketing (p. 5-6), company orientations toward the marketplace (p. 15-24)

Shifts in Marketing Management (p. 27-29)

Chapter 2

Value Delivery Process (traditional physical process sequence vs. value creation and delivery sequence)

Value Chain – what are the core business processes and support activities?

Core competence

Corporate and Division Strategic Planning

Product-oriented vs. market oriented definitions of business

Three intensive growth strategies and Ansoff’s product market expansion grid (Fig 2.6, p. 48)

Business Unit Strategic Planning (p. 51 – 59)

Chapter 3

Marketing information system

Marketing intelligence system

Trend, fad, megatrend

Know the major macroenvironment forces (and examples)

Chapter 4 (p. 102 – 116)

Know the marketing research process including

The different research approaches

Research instruments

Sampling issues

Barriers to use of marketing research

Chapter 5 (p. 140 – 162)

Study material related to class handouts

Customer Perceived Value

Delivering High Customer Value

Total Customer Satisfaction

Maximizing Customer Lifetime Value – what is customer lifetime value, customer equity and examples of each?

Cultivating customer relationships.

Written Questions:

Written question(s) will be selected from the following topics. The actual question(s) may be altered. Your grade will be based on clarity, organization, thoroughness, mechanics (eg, proper grammar) and insight, and how your responses compare with that of other students.

1. "Value" is defined as Benefits / Costs. Explain all the different ways the marketer can increase the value of the customer offering. Give real life examples of how a company can increase the value of the customer offering.

2. Explain how the 3C’s (company, customer, and competition) are interrelated. What are the objectives of the company? What are the objectives of the customer? Explain how one of the macroenvironment forces can impact the company, customer, and competition linkages. Use your project topic as an example to illustrate this point.

3. What is value chain? Explain how the value chain illustrates the linkages of the 3C’s (company, customer, and competition)

4. What is internal marketing? Why is internal marketing an important element of the holistic marketing concept? Give real-life example(s) in answering these questions.

5. What is the rationale behind “Maximizing Customer Lifetime Value”(see p. 148)? Give an example of how a company might hold on to its profitable customers and “fire” the unprofitable ones. What are the benefits and risks of engaging in this strategy?

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