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WVU MKTG 320 - Exam 1 Study Guide

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MKTG 320Exam # 1 Study Guide General SuggestionsYou will need DataLink 1200 answer sheet (should be at downtown Barnes & Noble for 53 cents each, or might be in JACS in the ‘Lair for 25 cents) and pencil. This will be a closed book exam. The exam will cover chapters 1-4 from the textbook and DISC. Bring your ID card.Chapters 1Much of the material in the Power Point slides (PPT) for this chapter is not in this textbook chapter (e.g., slides 2-11). The first two points below are from PPT only.1. What are some of the reasons that personal selling is an attractive career?2. Types of sellinga. Retail vs. B-2-Bb. By customer type (e.g., manufacturers, government, etc.)c. By taskd. Other categories3. Contributions of selling to society4. Differences between transaction-focused (traditional) selling and trust-based (relationship) selling. (Exhibit 1.1 from book helpful).5. Know the differences between adaptive selling and canned selling (also covered this inother lectures).6. Alternative Personal Selling Approaches (mainly from the book). Make sure you know the details within each category (how they work, steps, etc.) and if given examples canmatch them to the appropriate type.a. Stimulus responseb. Mental states sellingc. Needs satisfaction sellingd. Problem-solving sellinge. Consultative sellingf. The trust-based sales processChapters 2You will need to study the PPT and the textbook closely. Some textbook materials on the exam may not be in the PPT.1. What is trust and why is it important?2. Additional information, my slide 4: Trust is dependability and benevolence.3. Know what the five trust builders are. Be able to define each, give an example of each and if given a scenario be able to identify each or suggest what they are (Expertise, Customer-orientation, Dependability, Candor, Compatibility). Know which of these coordinates with the questions buyers might ask (in textbook-e.g., p 33).4. Know what knowledge based trust is. Be able to give examples, but I am not going to go into each of these eight types of knowledge in detail (you wouldn’t have to give examples or necessarily be able to list all eight).5. Be familiar with Exhibits 2.5 – 2.8. I won’t ask you to list all these or define them, but I may ask which category they are or ask if certain activities are illegal or unethical and you should be able to identify these. I will probably also give you scenario type questions.Chapters 31. Again questions on types of buyers might come up (e.g., slide #5). Know what the most common major categories are (consumer and business), and within business (institutions, governments, and firms).2. Know the distinguishing characteristics of business markets (e.g., slide #6).a. In particular know what derived demand is, why it is important, be able to give examples or identify in a scenario.3. We didn’t discuss it that much, but you should be familiar with figure 3.1 in the book which is also on one slide. Know the factors, but I won’t go into any depth on the individual factors.4. Not that much from the remaining chapter, except material discussed in figure 3.5 (also discussed in chapter 1 on my slides); and we begin to discuss Communication Styles (DISC) in this chapter. They use different terms than DISC, but note that it is conceptually equivalent to DISC. Please use the DISC terminology.5. Buying teams: what they are and what the different roles are. Not all roles may be in play and individuals can play multiple roles. If I gave you an example of what a buying team member is doing, you should be able to tell me what s/he is (i.e., know the categories such as: gatekeepers, initiators, etc.).Chapters 41. Know the types of questions (i.e., open/closed, probing, etc.). We discussed but not too much in class, so read book carefully.2. Know the six facets of effective listening and active listening material.3. Know the “Ten Keys to Effective Listening” from the textbook.4. Non-verbal communication material from the textbook.DISCThere are many questions in this area and they are almost all in the form of fill in the blanks, lists, writing characteristics of certain styles, short answer, etc. So please know the material discussed below well as you can easily miss a lot of points here.1. Know what DISC stands for (Director, Influencer, Steadiness, Compliance; may also be listed as Dominance, Influence, Steadiness and Conscientiousness on some handouts—the book uses these terms Drivers, Expressives, Amiables and Analyticals; I don’t expect you to know the book terms for these four categories).2. Know the Assertiveness and Responsiveness dimensions and be able to graph them and the four quadrants. Know which of the four DISC are hi/lo on these two dimensions. Should be able to draw a graph. I might give you a graph with someinformation blank and ask you to fill in the blanks—many students miss this, so practice.3. Know what your own DISC profile is. It might be a combination of more than one.4. Be able to describe characteristics of the four DISC and be able to identify someone if you read a biographical sketch about them or saw a video of them.5. Know in general what the best way is to communicate/sell to each of the four types.6. Know for your own type what the best way to interact with each of the other four


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