MKT 2010
Marketing Principles
Exam 1 Review Questions
Chapter1. What is marketing (definition)? What functional role (primary responsibilities) does
marketing play within the firm? What are the fundamental tasks involved in the typical
marketing process? How are marketing problems different than other business problems? How
do marketers create value for their customers? (Chick-fil-A Case) Concepts: customer value,
satisfaction, marketing concept, engagement, equity,
Chapter 2. What is strategic business (company level) planning? How does strategic company
planning impact the marketing planning process? What is the BCG Matrix? What is the product
growth matrix? How are these company-planning frameworks used in company level strategic
planning? (Facebook Case) Concepts: company mission, SWOT, Integrated Marketing Mix
Chapter 3. What is involved in the assessment of the Marketing Environment? What is the
difference between Micro and Macro Environmental factors? How does Marketing
Environmental assessment impact the marketing planning process? (Regional Shopping Mall
Case) Concepts: Micro and Macro Environment
Chapter 4. Why is marketing research so important to the practice of marketing? What are the
basic tasks involved in the design and execution of good marketing research? What types of
challenging research issues confront marketing researchers; what difficult decisions must be
made; research trade-offs? What is customer satisfaction? Why is it so important to marketers?
How might one go about measuring customer satisfaction? What should be the decision criterion
of the marketing professional as he/she is assessing the effectiveness of a given marketing
research proposal? (Enterprise Case) Concepts: primary, secondary data, sampling plan, CRM)
Chapter 5. What is the importance of understanding your customer’s behavior? What nonmarketing (e.g., social, situational, family) factors can influence and change the customer’s
purchase - shopping behavior? What specific types of customer information would be important
to collect (e.g., pre-purchase, purchase, post-purchase); and why would that information be
useful to you as a marketer? Why is understanding and predicting customer behavior so
complex and difficult? What basic (behaviors) issues concerning consumer purchase/shopping
behavior should marketers seek to understand? How is consumer theory helpful when designing
marketing research studies? What are consumer attitudes and why are marketers so concerned
with customer attitudes? Concepts: variety-seeking behavior, attitudes, perception,
Chapter 7. What is market segmentation? How does the market segmentation effort impact the
marketing plan (mix)? What basic types of customer data are required to effectively perform a
customer segmentation analysis (e.g., customer characteristics, benefits sought, customer
behavior)? What is product positioning? Why is product positioning so important to marketers?
How does it impact the marketing plan? What are some of the common product positioning
approaches used by marketers? (Draper Case) Concepts: target market strategies, positioning
maps, positioning vs. segmentation)