BUS121 Test 4 Study Guide
While this is not an exhaustive list, these will help you prepare for Test 3 over Chapters 13, 14, 15, and 16
Chapter 13: Marketing: Helping Buyers Buy
• What is the definition of marketing?
• How has marketing evolved? What are the four eras of marketing?
• Compare the marketing concept and customer relationship management (CRM).
• How does marketing apply to non-profit organizations?
• What are the four parts of the marketing mix?
• What is the marketing process? What is testing marketing? Brand name?
• What is the definition of a product?
• What is involved with conducting market research?
• Understand what primary and secondary data sources are for market research.
• Explain the different parts of the marketing environment.
• Understand the variables that can be used to define a market segment (demographic, etc.)
• What is a target market?
• What is mass marketing? What is relationship marketing? How are they similar/different?
• What are the steps in the consumer decision-making process? What is cognitive dissonance?
• What are the outside influences on the consumer decision-making process?
• How do the business-to-business market and the consumer market differ?
Chapter 14: Developing and Pricing Goods and Services
• What is the meaning of the term “value?”
• What makes up a total product offer?
• What is a product line? What is a product mix? How do they differ?
• What is product differentiation?
• What is the difference between convenience, shopping, specialty and unsought goods?
• What are industrial goods?
• Why has product packaging become so important?
• What is bundling?
• What is a brand? What is a trademark?
• How do the brand categories of manufacturers’ brands, dealer brands, generic brands and knockoff brands differ?
• What is brand equity, brand loyalty, brand awareness and brand association?
• What does a brand manager do?
• Understand the new-product development process.
• Understand the product life cycle and what happens at each stage.
• Understand the different pricing strategies and how they work. What can affect pricing?
• Understand break-even point and how to calculate it.
Chapter 15: Distributing Products
• What are marketing intermediaries, channels of distribution, agents/brokers and wholesalers?
• Do marketing intermediaries add value?
• Explain the different types of utility created by intermediaries.
• What are the different types of wholesale intermediaries? limited-function merchant wholesalers?
• What are agents? Brokers?
• What are the different types of retail intermediaries?
• What are intensive, selective and exclusive distribution retail strategies?
• What are different types of nonstore retailing? What is direct selling? What is direct marketing?
• What are corporate, contractual, and administered distribution systems?
• What is a supply chain? What is supply chain management?
• What types of distribution systems are there? How do they work?
• What is logistics? Outbound logistics? Reverse logistics? What is material handling?
• How do the different transportation modes for goods compare?
• What is intermodal shipping?
• What are storage warehouses? Distribution warehouses?
• How are goods tracked through the supply chain?
Chapter 16
• What is integrated marketing communication?
• What is advertising? What are the major types of advertising?
• What are different advertising mediums and their pros and cons?
• What is product placement? Infomercials?
• How has online advertising evolved?
• What are potential advantages and issues with global advertising?
• What is personal selling?
• What are the steps in the selling process? What happens at each step? How do the consumer and B2B selling
processes differ?
• What is public relations? What is publicity? When can it be bad?
• What should sales promotions do in general? What are examples of sales promotions?
• What is word-of-mouth promotion?
• Understand newer marketing techniques like viral marketing, blogs, podcasts, email and mobile media promotions.
• Explain the push and pull promotional strategies.
• What is the “pick economy?”