Marketing - Exam Overview
Marketing - Exam Overview Mkt 3820
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This 2 page Study Guide was uploaded by Anna Notetaker on Saturday October 3, 2015. The Study Guide belongs to Mkt 3820 at Middle Tennessee State University taught by Dr. Lucy Matthews in Fall 2015. Since its upload, it has received 80 views. For similar materials see principles of marketing in Business at Middle Tennessee State University.
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Date Created: 10/03/15
Principle of Marketing Prof Lucy Matthews Exam Overview What are the barriers to exchange Be able to give an example of each 1 Geographic bridges UPSFEDEX internet Time 24 hr stores internet Value Information what does it do cost etc Quantity amount needed by consumer OWUIhUJN Variety product that ts best 7 Ownership responsible for breaks warranty guarantee What are the 4 P39s What are these called quotMarketing Mixquot 1 Product type look 2 Place access to consumer 3 Price what is given up in order to get product 4 Promotion information about product Know the three 3 important social changes that occurred over the past 50 years that in uence marketing activities Women in the work place quotHealthquot craze Environmental friendliness craze What is the difference between direct and indirect competition Direct competitors product similar goods to that of your own Indirect provide alternatives ie muf ns instead of bagels What are the primary differences between laws and ethics Hint Who makes them enforces them and consequences of violating them Ethics are to be considered law from above or feeling of the speci c individual whereas laws are manmade and enforced as such Be familiar with the three 3 different con ict types discussed in class 1 ApproachApproach two equally strong options 2 ApproachAvoidance want to do something but there are bad parts 3 AvoidanceAvoidance What are the steps involved in the consumer decision making process 1 Need Recognition 2 Information Search 3 Evaluate the Alternatives 4 Make Informed Decision 5 PostPurchase Behavior Pyramid of Social Responsibility 1 Economicbe pro table 2 Legalobey the law 3 Ethicalbe ethical 4 philanthropicgive back to the community MASLOW39S HIERARCHY OF NEEDS Physiological Needs deal with the basic bioogica necessities of life food drink rest and shelter Safety Needs pertains to protection and physical well being Love Needs relate to our interactions with others Esteem Needs allow people to satisfy their inner desires SelfActualizatoin occurs when you feel completely satis ed with your life and how you live Explain the components of a situation analysis SWOT Strength internal and favorable build on it Weakness internal and unfavorable correct it Opportunity external and favorable exploit it Threat external and unfavorable avoid it
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