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UT Knoxville BUAD 332 - BA 332 Study Guides

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BA#332#Exam#Review##*#Means=#Exact#or#close#to#the#actual#questions#from#the#exam#All#the#others#next#to#a#number#are#either#the#Answer#to#the#questions#or#the#topic#of#the#question.#(Except#in#Ch.#1:#16E22#are#not#all#on#the#exam,#a#few#of#them#are#but#I#FRXOGQ¶W UHPHPEHU ZKLFK RQHV $OVR WKHUH DUH VRPH missing#from#chapter#one#about#the#examples#he#gave#in#class#about#the#Abercrombie#jeans,#etc.)###!EXAM!1!#1. The#cultural#environment##a. 7KH LQVWLWXWLRQV DQG RWKHU IRUFHV WKDW DIIHFW D VRFLHW\¶V EDVLF YDOXHV perceptions,#preference,#and#behaviors##2. *A#MACRO#example#a. .#Proctor#and#Gamble#need#to#be#conscious#of#economic#environment#facing##3. *Value#PropositionE #a. A#set#of#benefits#or#values#a#company#promises#to#deliver#to#consumers#to#satisfy#their#needs##4. *Customer#Value#oriented#firm#a. Continuous#learning#about#customer#b. Commitment#to#innovation#c. Organizes#everything#around#delivering#Customer#Value#to#the#firm ##5. Methods#that#help#what#customers#value##6. *Marketing#Intermediary#a. #retailers,#truck#co,#ad#agency##7. Marketing#Mix#a.#The#set#of#controllable,#tactical#marketing#tools#that#the#firm#blends######to#produce#the#response#it#wants#in#the#target#market##8. Customer#Value#in#Business#Situation##9. US#Demographic#Trends##10. Key#aspects#of#customer#value#a. Tradeoff,#Interaction,#Relative,#GoalEDriven,#Dynamic##11. *Proctor#&#Gamble#rel.#with#target#markets#by#NOT#a. Calling#customers##12. *Marketing#concept#a. The#marketing#managing#philosophy#that#holds#that#achieving#organizational#goals#depends#on#knowing#the#needs#and#wants#of#target#markets#and#delivering#the#desired#satisfactions#better#than#competitors#do##13. Micro/Macro#environment##14. Salad#Bowl#a. Various#groups#mixed#together##15. Steps#in#Strategic#Planning#a. Defining#the#company#mission#(2)#setting#objectives#(3)#design#portfolio#(4)#planning#marketing#and#other#functional#strategies##16. Cash#Cow#a. Low#growth,#high#shareEEE+3 FDOFXODWRU SURGXFH FDVK GRQ¶W QHHG to#invest##17. Question#Marks#a. Build#into#stars#and#fade#out;;#smart#phone;;#low#share,#high#growth;;#need#to#invest#more#in#advertising##18. Dogs#a. Decide#whether#or#not#to#keep;;#generate#cash#to#sustain#itself##19. Stars#a. #need#to#invest#to#protect#yourself,#laser#jet#printers,###20. Market#Penetration#a. make#MORE#sales#to#CURRENT#customers,#add#new#stores#in#current#market,#improve#ad.,#menu,#prices##21. Market#Development:#a. Identify#and#develop#NEW#market#for#CURRENT#customers;;#new#demographic,#or#geographic##22. Product#Development:#a. Offering#MODIFIED#or#NEW#products#to#CURRENT#markets,#add#food#offerings,#sell#coffee#in#supermarket,#coEbrand#products##23. Diversification#a. Start#up#or#buy#business#outside#current#products#and#markets;;#Making#and#selling#cds,#testing#restaurant#concepts,###24. *Tradition#View#of#Marketing#a. Door#to#Door#selling##25. Value#Added#a. A#seller#focused#view.#Product#features#that#sellers#think#should#be#attractive#to#customers## # #26. #7KH TXHVWLRQ LV ZKLFK LV QRW WUXH« WKHVH $5( WUXH#a. Married#couples#with#children#make#up#the#biggest#percentage#of#households#b. 60%#of#workforce#is#women####!EXAM!2!#1. *Mercedes#Benz#a. More#and#More##2. /LPLWDWLRQV 127«#a. Observational#res.#can#obtain#information#that#people#are#unwilling#to#provide#3. *Experimental#a. Causaul##4. +DUUDQ¶V &DVLQR#a. Company#that#effective#analyzes#internal#databases#to#identify#profitable#customers##5. *Adoption#a. Divisibility##6. segments##7. Cognitive#Dissonance##8. *MIS#a. Procedures,#people,#equipment##9. *Secondary#data#a. Information#that#already#exists#somewhere##10. descriptions#of#business#market##11. *DVD#playerE#commercial#sources#EXCEPT#a. Family#friend#owns#player###12. *Southwest#Airlines#a. Less#for#Less##13. Business#Buying#Behavior#a. Organization#that#buy#goods#and#services#for#use#in#the#production#of#other#products#and#services#that#are#sold,#rented,#or#supplied#to#others##14. Marketing#Research#problem##15. *Social#Class#is#NOT#a. Determined#by#a#single#factor#such#as#income###16. Adoption#Process#a. Consumer#decides#to#make#full#and#regular#use#of#the#new#product##17. Targeting##18. *Except##which#one#a. Buyer#decision#process##19. local#marketing#a. tailoring#brands#and#promotions#to#the#needs#and#wants#of#local#customer#groupsE#cities#neighborhoods,#and#even#specific#stores##20. Differentiated#marketing#strategy#a. Firm#targets#several#market#segments#and#designs#separate#offers#for#each##21. Product#Position#a. The#way#the#product#is#defined#by#consumers#on#important#attributes²WKH SODFH D SURGXFW RFFXSLHV LQ FRQVXPHUV¶ PLQGV relative#to#competing#products.##22. buying#center#a. DecisionEmaking#unit#of#a#buying#organization###23. straight#reEbuy#a. the#buyer#routinely#reorders#something#without#and#modifications##24. *core#benefit#Revlon#Makeup##25. Service#Perishability#a. Services#cannot#be#stored#for#later#sale#or#use##26. ³DXJPHQWHG SURGXFW´#a. Sony#with#number#to#call##27. *Enduring#assets#a. CocaEcola##28. *brand#extension#a. using#a#successful#brand#name#to#launch#a#new#or#modified#product #i. HARLEY#DAVIDSON#INTRODUCED#A#LINE#OF#CIGARETTS##29. *Exploratory#Research#a. Bicardi##30. Random#Sample#a. Everyone#in#population#has#an#equal#possibility#of#being#chosen####EXAM!3!#1. *J&J#&#contact#lensesE#Vertical#Conflict##2.#*airline#businessE#Inelastic#####Airline#leisureE#Elastic#3. *consumer#perception#of#price#and#value#NotEseller#oriented##4. #*NOT#MarketESkimming#a. Product#cost#fall,#sale#increase##5. Marketing#channel#a. A#set#of#interdependent#organizations#involved#in#the#process#of#making#a#product#of#service#available#for#use#or#consumption#by#the#consumer#or#business#user##6. hybrid#marketing#channel#a. A#single#firm#sets#up#2#or#more#marketing#channels#to#reach#one#or#more#customer#segments#(retailers,#Catalogs,#Internet)##7. *test#marketing#NOT#a. increasing#in#recent#years##8. *Intro#Stage#NOT#a. Competition###9. *Price#Elasticity#NOT#a. Buyers#more#price#sensitive#when#product#high#in#quality##10. Disintermediation#a. Displacement#of#traditional#resellers#from#a#marketing#channel#by#radical#new#types#of#intermediaries#(Expedia,#Priceline)###11. *product#quality#leadership#a. R&D#pharmaceuticalsE#price#high##12. *pure#competition#a. Many#buyers#and#sellers#who#have#little#effect#on#the#price#(commodity#products)#wheat##13. *franchises#a.


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