MKT 301 Introduction to Marketing

Exam 2 Review
Chapters 11 17
60 MC
7 short answer
Chapter 11 8 MC
What is a Product
Different types of products
Specialty
Convenience
What the product mix is (assortment)
What a brand is
About brand equity
About brand loyalty
About packaging
Primary
Secondary
About labels
Chapter 12 8 MC
What innovation is
The benefits of new products to the firm
The diffusion of innovation process and how companies use it
About relative advantage
The steps in the new product development process
Idea generation
Concept development and testing
What brainstorming is
Sources of new ideas
About alpha and beta testing
Know the stages of the product life cycle
Chapter 13 8 MC
What a service is
The characteristics of a service
Intangible
Inseparable
GAAP model
Each of 4 service gaps
Building blocks (dimensions) of service quality
Zone of tolerance
Service recovery

Chapter 14 9 MC
What the uniqueness of price is in the marketing mix
What target return pricing is
What return on investment is and how to calculate it
ROI = net profit/assets
What a demand curve is/what it does
About price elasticity of demand and how to calculate it
PED = % change Q / % change P
Elastic if < -11
Inelastic if > -1
Calculate, tell if elastic or inelastic, and then tell why
Know the income effect
Know the cross price elasticity
The different types of cost
Fixed
Variable

breakeven analysis (what it is and how to calculate it)

BEA = Fixed cost/contribution
Contribution is P VC (price minus variable cost)
Different levels of competition
Pure
Monopoly
Oligiopolistic
Chapter 15 9 MC
The weaknesses of cost-based pricing methods
The different value-based pricing methods
Cost of ownership
Improvement
New production pricing strageties
Skimming
Market penetration
Pricing strategies
Hi lo
Edp
What a pricing tactic is
The legal/ethic aspects of pricing
Chapter 16 - ??? 9/10
What place is/distribution
information flows
electronic data interchanges
difference between an push and a pull strategy
just-in-time inventory systems are
channel conflict

activities that occur within the distribution center

mange in-bound transportation
different types of vertical marketing
what a marketing channel is
requirement for successful strategic relationships
mutual trust..?
Chapter 17 9 MC
Factors that manufacturers consider to establish strategy to get goods to
customers
Customer expectations
The different types of distribution intensity
Different types of retailers
About share of wallet
The benefits of store channel
Browsing
Multichannel retailing
What M commerce is
SAME RULES OF ENGAGEMENT
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By 10pm Monday night