Marke&ng

 Principles  

Mul&ple  Choice:  Quick  Study  Guide  1  

 Sec&on  One  
•  Revise  and  familiarize  yourself  with  the  core  
concepts  &  defini&ons  of  marke&ng  
•  Be  able  to  define  what  a  modern  concep&on  
of  marke&ng  is,  a  la  2010  
•  Understand  CLEARLY  what  a  “target  market”  is  
and  what  “target  marke&ng”  implies  
•  What  is  a  SWOT  analysis  and  why  is  it  used?  
•  What  are  the  FOUR  Ps  of  the  Marke&ng  Mix?  
 Sec&on  Two  
•  What  is  “strategic  planning”  and  what  does  it  
actually  entail?  What  variables  are  used?  
•  Understand  that  culture  plays  a  part  as  a  
factor/indicator  of  consumer  choice  
•  Be  able  to  clearly  define  what  a  “market”  is  
 Sec&on  Three  
•  Be  able  to  clearly  define  what  “segments”  are  
and  what  the  process  of  “segmenta&on”  is  
•  Be  able  to  understand  the  differences  between  
segmen&ng  and  combining  
•  Understand  the  levels  of  market  analysis  from  
generic  to  targeted  
•  Be  able  to  understand  the  steps  in  the  process  of  
market  segmenta&on  
•  Understand  clearly  the  differences  in  target-­‐
marke&ng  approach:  between  single,  combined  
and  mul&ple  
 Sec&on  Four  
•  (Important!)  Be  able  to  define  the  bases  of  
segmenta&on:  demographic,  geographic,  
behavioral,  psychographic  
•  Understand  the  concept  of  “a]tude”  and  its  
importance  in  understanding  consumer  
behavior  
•  Be  able  to  define  the  roles  &  importance  of  
opinion  leaders,  reference  groups  and  group  
influence