Marketing Management (MKTG 4355/5355)



Marketing Strategy (MBA 6308)

Exam 3 - Review

Fall 2007

The exam will be part multiple-choice and part essays. Multiple choice questions will cover chapters 11-16, particularly the material related to class handouts.

Chapter 11 – Dealing with Competition (p. 346 – 365)

1. Strategies and issues related to Market Leader, Market Challenger, Market Follower, and Market Nicher.

Chapter 12 – Setting Product Strategy (p. 372 – 390)

1. Product Levels – The Customer Value Hierarchy

2. Product Differentiation (form, features, performance quality, etc.)

3. Design

4. Services Differentiation (ordering ease ,delivery, etc.)

5. Product systems and mixes (mix, length, width)

6. Product line analysis (eg, line stretching, line modernization, etc.)

7. Product-Mix Pricing

Chapter 13 – Designing and Managing Services (p. 402 – 421)

1. Figure 13.1 – Continuum of Evaluation for Different Types of Services; search qualities, experience qualities, and credence qualities

2. Distinctive characteristics of services and their marketing implications (pp. 405-408). That is, know the following and their applications: intangibility, inseparability, variability, perishability

3. Holistic Marketing for Services; Internal marketing, external marketing, interactive marketing

4. Managing Service Quality: Customer Expectations (Gaps, Fig. 13.4 – Service-Quality Model)

5. Best practices of service-quality management

Chapter 14 – Developing Price Strategies and Programs

1. Selecting the Pricing Objective; know the difference between market-penetration pricing and market-skimming pricing

2. Determining Demand; What is the difference between price sensitivity and price insensitivity?

3. Estimating Costs; examples of fixed cost and variable cost

4. Different pricing strategies: perceived value pricing, value pricing, target-return pricing, etc.

Chapter 15 – Designing and Managing Value Networks and Marketing Channels (p. 468-491)

1. Channel functions and flows

2. Channel levels

3. Identify Major Channel Alternatives; Exclusive, selective, and intensive distribution

4. Economic Criteria

5. Vertical Marketing Systems

Chapter 16 – Managing Retailing, Wholesaling, and Logistics (p. 503-520)

1. Types of retailer

2. Retailer marketing decisions

3. Trends in retailing

Essay Questions:

Written question(s) will be selected from the following topics. The actual question(s) may be altered somewhat. 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. The dominant firm (market leader) normally gains the most when the total market expands. Thus, one of the strategies of a market leader is to expand the total market. Give an example that illustrates how expansion of the total market benefits market leaders

2. Explain the differences among the following: product mix, width of product mix, and length of

product mix. Give an example of each. A challenge for management is in determining whether to lengthen or shorten its product lines. Explain how the product mix should be managed - what factors go into determining whether product lines should be lengthened or shortened? Explain how this is consistent with the linkages of company, customer, and competition (as discussed in class). Give example(s) in answering this question.

3. In the study of services marketing, what is variability and perishability? Explain and give examples. How can businesses overcome challenges posed by variability and perishability? Give an example in your explanation. Identify two GAPS in providing service quality and how a service provider can close these GAPS. Give examples.

4. What are the objectives of pricing? Identify and describe three (3) different pricing strategies and how each strategy meets the pricing objectives. Give examples in your explanation.

5. “Channel functions cannot be eliminated; they are shifted from one intermediary to another.”

Identify one distribution channel function and explain the validity of the above statement (30 points)

6. For the topic of distribution channels, explain how companies can deliver higher value while minimizing costs. Give examples to support your answer. Explain how this is consistent with the linkages of company, customer, and competition (as discussed in class).

7. Why might an established retail store decide to use direct and on-line marketing for the first time? Are there any drawbacks in using direct and on-line marketing? Explain using illustrations.

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