Marketing Second Midterm Study Guide
Marketing Second Midterm Study Guide Mar 250
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This 3 page Study Guide was uploaded by Emanuel Nunez on Tuesday March 29, 2016. The Study Guide belongs to Mar 250 at Pace University taught by Professor Topol in Spring 2016. Since its upload, it has received 30 views. For similar materials see Principles of Marketing in Marketing at Pace University.
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Date Created: 03/29/16
Marketing Test Number Two Midterm Study Guide The test will be on Chapter 9, 10, 11, 12, 13, and 14. 10 questions will be on chapter 14. 12 questions will be on the other chapters according to the professor. Some questions ask to calculate break-even or price charging and other formulas. About three or four questions like it. Conceptual questions about pricing. Mostly multiple choice like the last midterm. Topics to study for: Elasticity and inelasticity Different price approaches such as demand-oriented pricing, competition-oriented pricing, cost-oriented pricing approaches Demand curves and price lining Market segments and when to segment buyers and products offered and how to form segments. Market-product grids Formulas such as break-even, Customer and competitor’s influence on pricing Four elements or I’s of success Five dimensions of services Seven P’s of services marketing Relationship Marketing Classifying products such as consumer products and business products Why products and services succeed or fail Product classes The new-product process and the stages Product Life Cycle including the different stages such as the growth stage, maturity stage, among others Price Equations- calculating a final price, value formula Profit Equation Break-Even Analysis Break-Even Chart Break-Even Point Types of Competitive Markets Identifying Pricing Objectives Estimating Revenue Study formulas for Average Revenue and Marginal Revenue Formula of Price Elasticity of Demand Importance of Controlling Costs Make special adjustments to the list or quoted price Regulatory and Legal Aspects of Pricing Many definitions are needed to be studied such as: 80/20 rule market segmentation market-product grid product differentiation usage rate product repositioning product positioning perceptual map convenience products specialty products unsought products product mix protocol customer experience management (CEM) Market testing Commercialization Product life cycle Market modification Product Modification Trademark Warranty Service Continuum Gap analysis Customer contact audit Off-peak pricing Internal Marketing Capacity Management Barter Value pricing Pricing Constraints Price Lining Yield Management Pricing Bundle Pricing Odd-even pricing Target Pricing Fixed-price policy Above, at, or below market pricing Loss Leader Pricing Price Discrimination Deceptive Pricing Geographical Pricing Price Fixing Everyday low pricing (EDLP)
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