MKT 300 1st EditionExam # 1 Study Guide Lectures: 1 - 6Lecture 1 (January 13)Chapter 1: Intro to MKT- We are all consumers; marketing is everywhere—television, radio, newspaper, around town- Marketing gives the consumer a guarantee of quality; takes up 50% of production costs- Marketing is about discovering and satisfying a customer’s needs and wantsLecture 2 (January 15)Chapter 1 Cont’d- Requires the four P’s: Product, Price, Place, Promotion- Can be performed by individuals and organizationso B2B: Manufacturer to retailero B2C: Retailer to consumero C2C: Customer to customer- Marketing helps create valueLecture 3 (January 22)Chapter 2: Developing Marketing Strategies and Plans- The Marketing Plano Step One: Defining the Mission and/or Visiono Step Two: Conduct a Situation Analysis using SWOTo Step Three: Identifying and Evaluating Opportunities Using STPo Step Four: Implement Marketing Mix and Allocate Resources Product and Value Creation Price and Value Capture Place and Value Delivery Promotion and Value Communicationo Step Five: Evaluate Performance and Make AdjustmentsLecture 4 (January 27)Chapter 3: Social and Mobile Marketing- The 4E Framework for Social Mediao Excite the customero Educate the customero Experience the product or serviceo Engage the customer- Social Media Siteso Social Network Siteso Media Sharing Siteso Thought Sharing SitesLecture 5 (January 29)Chapter 6: Consumer Behavior- Types of buying decisionso Extended Problem Solving: important/long-term/expensiveo Limited Problem Solving: middlemanClothes, shoeso Habitual Decision Making: everyday/inexpensive necessities we use all the time- The Consumer Decision Processo (1) Needs Recognitiono (2) Search for Information (Internal vs. External)o (3) Evaluation of Alternatives: Attribute Sets (Universal/Retrieval/Evoked)o (4) Purchase and Consumptiono (5) Post-PurchaseLecture 6 (February 3)Chapter 8: Global Marketing- Why going global? US has mature market—growth is higher in other markets; opportunity for success overseas- Old Navy to China—“Welcome to the Family”- Know what to access when going global- Risk vs. Controlo Exporto Franchiseo Strategic Allianceo Joint venture (very common)o Direct investment- very risky- Cultural Differenceso Have positioning and strategyo People are different—different products are necessary (must match target market)- View of product/consumer role- China and India are
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