Exam 1 Study Sheet

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To help you prepare, review all material (textbook and non-textbook) material covered
in class. Also, work through these discussion questions.
Principles of Marketing Exam #1 – Chapters 1-5 (plus team presentations). Please
bring a scantron sheet.
Chapter 1
1. Provide a definition of Marketing to a friend. How does it compare to our
textbook’s definition. What are requirements needed for marketing to occur?
Discuss the Marketing Department’s first task?
2. Describe a market, target market and marketing program.
3. Compare the controllable marketing mix factors with the uncontrollable
environmental factors. Why can you control the marketing mix?
4. Describe the various orientations/eras that have affected American business.
Chapter 2
1. Describe the various organizations that exist and how strategy is funneled down
to functional departments?
2. Provide some examples of corporate goals and objectives.
3. Consider BCG’s growth-share (portfolio) matrix tool. Describe the various
quadrants associated with the tool. What are other ways organizations assess
where they are?
4. What is the strategic marketing process? How does a marketing dashboard help?
Chapter 3
1. Perform an environmental scan on a product/service or industry that you are
familiar with.
2. What are the key differences between the major age groups that have been
highlighted in class and in the book?
3. Sum up the general characteristics of the American Family of today.
4. Be familiar with the key environmental forces that affect organizations.
5. Describe the current economic situation in our country and explain how this
affects marketing activity and strategy.
Chapter 4: Ethics and Social Responsibility in Marketing
1. What is the difference between Ethics and Laws?
2. Discuss Economic Espionage versus Competitive Intelligence. Provide examples
of each.
3. Regarding the Ethics of Exchange, explain the legal concept of caveat emptor and
the Consumer Bill of Rights.
4. How are whistle-blowers protected?
5. Explain the concepts of social responsibility. Describe a socially responsible
business that you are familiar with. What likely types of activities would they
engage in? How does a code of ethics help firms?
Chapter 5
1. What exactly is meant by “Consumer Behavior”?
2. Describe the purchase decision process that consumers go through when
purchasing a computer.
3. What are ways to reduce the cognitive dissonance associated with buying a
computer?
4. Look at several print advertisements. Which need (according to Maslow’s
hierarchy of needs) is most likely being addressed?
5. Consider the psychological and sociocultural influences that played a part in
purchasing the computer. Provide several examples of some possible influences.
6. Which lifestyle do you most resemble according to the VALs model?
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