Exam 1 Study Guide
Below are general terms from Chapters 1-4 of your text. You will be expected to not
only know the definition of the terms, but to be able to give examples of each term or
recognize the term when applied to a marketing situation.
You will be allowed to use one side of one sheet of paper for a note sheet during
the test. You may not use a note sheet created by anyone other than yourself. If
computer generated, a font size of 10 is the smallest that can be used.
Terms/Ideas to Know:
Form Utility
Marketing Utilities-Place Utility (having the thing at the right place)—Time Utility
(having the right thing at the right time)—Possession Utility (How you can get the
product...cash etc).
The 4 Ps/Marketing Mix-Product (what your selling)-Price (just the price)-Place
(where your selling it)-Promotion (advertise)
Controllable Factors-The 4Ps
Environmental Factors-Technology, Consumer Price, Regulatory, Competitive, Social,
Economic
Marketing Objectives/GoalsHistory of Marketing/Eras of Marketing
SWOT Analysis/Internal & External strengths & weaknesses-Strengths,
Weakness, Opportunities, Threats
Organizational structure
Levels within an organization (Functional, Corporate, ect..)
Planning gap
Strategic Business Units (SBUs)/Cash Cows, Stars, Question Marks, Dogs
Marketing/Business Goals
Mission Vision Statements
Business Definition
Generations: (Baby Boomers, Generation X, Y)
Monopoly, Oligopoly
Consumerism
Laws that came about because of Consumerism
Government Intervention
Electronic Commerce