Marketing Management 301 Dr. Nadia Pomirleanu Exam 1 Review ; All slides and class examples. Chapter 1 Definition of Marketing, Exchange Conditions necessary for exchange to occur The four marketing management philosophies: production, sales, market (and marketing concept), societal Definition of Customer satisfaction, Customer value Chapter 2 Definition Strategic planning The marketing plan ‐definition ‐ reasons to write a marketing plan ‐ elements of a marketing plan ‐ marketing myopia SWOT analysis (you will be asked to identify and distinguish between strengths/weaknesses , opportunities/threats) Definition Competitive advantage, Sustainable Competitive advantage (will you need to identify a competitive advantage in a specific example), Marketing Strategy Types of competitive advantage ‐ Cost ‐ Product(service ) differentiation ‐ niche Ansoff Strategic Opportunity matrix (understand and name the four cells that represent strategic alternatives) Portfolio matrix from Boston Consulting Group (BCG). Understand how we classify SBUs as stars, ?/problem child, cash cows, dogs) The Marketing Mix elements ‐product ‐price ‐ place ‐promotion Definition target market and target market strategies: ‐ entire market ‐ multiple markets ‐ single market Chapter 4 Definition Environmental scanning External marketing environment factors: ‐ demographics ; give examples ‐ social; give examples ‐ economic ; give examples ‐ competitive; give examples ‐ technology (basic/applied research); give examples ‐ political/legal; give examples You will be asked to identify/ distinguish which type of factor influence marketing decisions in specific examples. Chapter 5 Global marketing environment Methods of entering the global market place and degrees of risk ‐ exporting (and agents/brokers) ‐ licensing ‐ contract manufacturing ‐ joint ventures ‐ direct investment Product/Promotion strategies on the external markets ( examples of one product/one message, product adaptation, message adaptation, product invention (i.e. google McItaly for an example of the last one) Chapter 6 Consumer decision making process ‐need recognition ‐information search ‐ evaluation of alternatives (consideration/evoked set) ‐ purchase ‐post purchase outcomes (need to understand each step and marketing implications) Definitions: involvement, motivation, motives, Maslow HoN, extensive and limited decision making (pages 79‐81) Marketing implications of involvement page 81 for extensive reading ! Selective retention, exposure, distortion (you will be asked to identify from a specific example)