1. TEST # 1
Topical Overview
Chapters 1,2,3,5,6 and 9

2. Test Topics Marketing Concept vs. alternatives
Identifying the TRUE need for a product/service
Process for developing a Marketing Strategy
SWOT analysis
How, when to do it
What information comes from it
What decisions are made based on it

3. Test Topics Core competency Competitive advantage:
Sources (differentiated, niche, etc.) and Importance
Sustainability
BCG Market Share matrix
Know axis, quadrants (star, dog, etc.) and what the quadrants mean for marketers
The Marketing Environment
Know categories, examples of them and why they matter
Controllable vs. uncontrollable variables

4. Test Topics
Competition: types of competitors (brand, product, etc.) and competitive markets (monopoly, etc.)
Know them and how to recognize them
Consumer problem-solving (routine, etc.)
Know each behavior, its elements (time, involvement, etc.) and be able to categorize decisions
Know what each type of problem solving means for marketers
Consumer decision-making process
Know each step, be able to recognize where someone is in the process by what they have just done and/or what their next step is

5. Test Topics
Know influences on consumer behavior (social, situational, etc.): how and why they influence behavior
Understand Selective perception process and recognize where someone might be in it
B2B decision making
How it is similar to and differs from consumer decision-making

6. Test Topics Segmentation and target marketing Positioning
Segmentation process
B2C and B2B variables for segmentation and how to recognize them
Positioning
Process
Strategies

7. Sample Question
Sarah reads Forbes Magazine, which contains ads for Polo sweaters, Monte Blanc pens, and Callaway golf clubs. She remembers only the golf club ad, thanks to the recent troubles she had playing in a charity golf tournament last weekend. Sarah has engaged in selective
distortion.
decision making.
analysis.
retention.
reading.
Ans:  D

8. Sample Question
Susan plans to buy a new swimsuit for her spring break cruise. She has not seen this year's styles and thus will do some comparison shopping before making a purchase decision. Susan is engaging in
routinized response behavior.
extended problem solving.
limited problem solving.
impulse buying.
intensive problem solving.
Ans:  C

9. Sample Question
General Motors is producing a new minivan with all-wheel drive. Which of the following would be a likely variable for segmenting the market for this new model?
A) Religion
B) Geographic location
C) Income
D) Political views
E) Ethnicity
Ans:  B

10. Sample Question
When Rosetta Stone segments its market on the basis of their reasons for wanting to learn a new language, the primary segmentation variable it is using is
A) lifestyle.
B) motives.
C) personality.
D) benefit expectations.
E) personality attributes.
Ans:  B

11. Sample Question
ADM Inc. specializes in creating hybrid crops that grow in areas where rainfall is limited. It believes this capability is extremely well suited for Northern Africa, where rainfall is sparse and populations are increasing. ADM believes it’s hybrid crop represents
a core competency
a competitive advantage
a niche market
a monopolistic opportunity
a supportive social trend
Ans B