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MKTG 305 Exam 1 Study Guide

by: doyewole

MKTG 305 Exam 1 Study Guide MKTG 305


GPA 3.03

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About this Document

A study guide that includes basic concepts that will be covered on the first mid-term exam.
Principles of Marketing
Gayle Belch
Study Guide
Marketing, business, Advertising, Intro to Marketing, principles of marketing
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This 3 page Study Guide was uploaded by doyewole on Sunday October 2, 2016. The Study Guide belongs to MKTG 305 at California State University - San Marcos taught by Gayle Belch in Fall 2016. Since its upload, it has received 36 views. For similar materials see Principles of Marketing in Marketing at California State University - San Marcos.


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Date Created: 10/02/16
Exam 1 Study Guide Chapters 1-2, 4-5, 10, 6-7 (This is a general overview of what’s going to be on Exam 1) Chapter 1—Overview of Marketing What is marketing? Core Marketing Terms: • Needs: physical, social, individual • Want, • Demands • Exchange Four Marketing Management Philosophies • Production Era • Sales Era • Marketing Era • Value Based Era Customer Value and Satisfaction Transactional vs. Relationship Chapter 2—Devloping Marketing Strategies and a Marketing Plan Define Strategic Planning and Marketing Plan Competitive advantage • Locational excellence • Operational excellence • Product excellence • Customer excellence Steps in Strategic Planning 1. Define mission 2. SWOT analysis 3. Identify opportunities 4. Implement marketing mix 5. Evaluate performance Segmenting, Targeting, and Positioning Marketing Mix/4 P’s Portfolio analysis—BCG growth-share matrix  Identify, define, and, why/when is it used Growth Strategies  Identify, define, and, why/when is it used 1 Chapter 4—Marketing Ethics Ethical Behavior in Business/Marketing Corporate Social Responsibility  Stakeholders and social responsibility Understand ethical decision making Chapter 5—Analyzing the Marketing Environment Immediate Environment (microenvironment) • Company, competitors, corporate partners Macro Environment  Cultural, demographic, social, economic, technology, political/legal  Define and know trends and how they affect marketing decisions and consumer choices Generation Cohorts  Gen Y, Gen X, baby boomers, and seniors  Characteristics, trends, and impacton decision making Chapter 10—Markting Research Marketing Information System Marketing research, market intelligence, internal data Marketing research process  define objectives,  design the research  data collection  analyze data,  action plan and implementation Secondary data and primary data Two data collection techniques  Exploratory o observation, in-depth interview, focus groups, social media  Conclusive o experiment, survey, panel, scanner Types of contact methods—internet, mail, telephone 2 Chapter 6—Consumer Behavior Consumer behavior and why we buy Steps in the Consumer Decision Making Process, cognitive dissonance, and evoked set Factors influencing consumer behavior  Psychological: motives, attitudes, perception, learning o Maslow’s Hierarchy of Needs  Social: family, reference groups, culture  Individual: gender, age and life cycle stage, economic, lifestyle, personality  Situational: purchase, shopping, temporal Involvement and consumer buying decisions  Extended problem solving and limited problem solving Chapter 7—Business-to-Business Marketing Business to business marketing (B2B) B2B markets: manufacturers, resellers, government, institutions B2B Buying process Business markets characteristics  Demand: derived demand, inelastic demand  Buying Centers and roles Buying situations – straight rebuy, modified rebuy, new buy 3


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