TEST # 1
Chapters 1,2,3,5,6 and 9
Marketing Concept vs. alternatives
Identifying the TRUE need for a product/service
Process for developing a Marketing Strategy
How, when to do it
What information comes from it
What decisions are made based on it
Sources (differentiated, niche, etc.) and Importance
BCG Market Share matrix
Know axis, quadrants (star, dog, etc.) and what the
quadrants mean for marketers
The Marketing Environment
Know categories, examples of them and why they matter
Controllable vs. uncontrollable variables
Competition: types of competitors (brand, product,
etc.) and competitive markets (monopoly, etc.)
Know them and how to recognize them
Consumer problem-solving (routine, etc.)
Know each behavior, its elements (time, involvement,
etc.) and be able to categorize decisions
Know what each type of problem solving means for
Consumer decision-making process
Know each step, be able to recognize where someone is
in the process by what they have just done and/or what
their next step is
Know influences on consumer behavior (social,
situational, etc.): how and why they influence
Understand Selective perception process and
recognize where someone might be in it
B2B decision making
How it is similar to and differs from consumer
Segmentation and target marketing
B2C and B2B variables for segmentation and how
to recognize them
Sarah reads Forbes Magazine, which contains ads for
Polo sweaters, Monte Blanc pens, and Callaway golf
clubs. She remembers only the golf club ad, thanks to
the recent troubles she had playing in a charity golf
tournament last weekend. Sarah has engaged in
B. decision making.
Susan plans to buy a new swimsuit for her
spring break cruise. She has not seen this
year's styles and thus will do some comparison
shopping before making a purchase decision.
Susan is engaging in
routinized response behavior.
extended problem solving.
limited problem solving.
intensive problem solving.
General Motors is producing a new minivan with
all-wheel drive. Which of the following would be
a likely variable for segmenting the market for
this new model?
B) Geographic location
D) Political views
When Rosetta Stone segments its market on
the basis of their reasons for wanting to learn a
new language, the primary segmentation
variable it is using is
D) benefit expectations.
E) personality attributes.
ADM Inc. specializes in creating hybrid crops that
grow in areas where rainfall is limited. It believes
this capability is extremely well suited for Northern
Africa, where rainfall is sparse and populations are
increasing. ADM believes it’s hybrid crop
a core competency
a competitive advantage
a niche market
a monopolistic opportunity
a supportive social trend