Instructions

To prepare for the exam, study the following questions. As you develop answers for them, be sure to use any diagrams, tables, or drawings that will help clarify your answers on the actual exam. The best answers for essay questions will be thorough yet concise. Brief, sketchy answers will not be rewarded with a majority of the possible points, however sheer length does not substitute for quality.  You will be able to answer any question format on the exam if you thoroughly review the material associated with these questions.
 

1. Describe the marketing concept. How does it relate to our discussion of market orientation? How does it relate to relationship marketing?

2. Describe the General Electric strategic planning grid. How is it used? What are some other names it is known by?

3. Describe the segmentation process, including the steps of segmentation, target marketing, and positioning, and the purposes of each step.

4. Define and describe segmentation. Discuss four factors to consider in identifying "good segments."

5. List and discuss the steps in the positioning process.

6. Define and discuss top-down forecasting and bottom-up forecasting. Also discuss two methods of subjective/qualitative forecasting and two methods of empirical/objective forecasting. What is the general rule for which type(s) or method(s) to use?

7. What are the dangers involved in using sales force estimates to forecast a product’s future sales? Under which conditions are such estimates most likely to be accurate and useful?

8. Define and describe the concept of the product life cycle. Discuss two implications for marketing management for each stage in the life cycle. (Think of how decisions regarding the marketing mix are affected by the PLC.)  Describe the diffusion of innovations and how that concept relates to the PLC.

9. Discuss the concept of multiattribute attitude models. Sketch out such a model for comparing three brands of sports car, with appropriate attributes. Calculate the overall scores on the model for these brands. Discuss four possible uses of such a model for the marketing managers of one of the brands.

10. Describe and discuss the product-market expansion grid (Exhibit 2.9 in your text).  This framework contrasts two dimensions of corporate growth--be sure to include these dimensions in your answer, as well as the four general strategies depicted in the framework..