Download Review for Exam I

Review for Exam I
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Know the difference between a Marketing plan and a strategic marketing plan.
Know the difference between mission, vision, goal, and objective. I will have several examples in
the exam.
Know the difference between a marketing strategy and a corporate strategy.
What is a strategic business unit (SBU)?
Know what the following terms mean: differential advantage, marketing concept, sustainable
competitive advantage, core competencies.
Know the difference between transactional marketing and relationship marketing.
Know the contents of a Marketing plan
Know the following terms: marketing audit, environmental analysis, SWOT analysis?
What factors do we study when analyzing the external environment?
Know the four types of competitors (e.g., brand, product, generic, and competitor).
What are the components of the internal environment when doing an environmental analysis?
Know the difference between primary and secondary data. Know the difference between
qualitative and quantitative data.
Be able to differentiate between internal strengths and weaknesses and external opportunities and
threats.
Know the following terms: operational excellence, customer intimacy, liability
When should a firm try to reposition the product. When should a firm diversify?
What are the criteria's of a well developed mission statement, goal, and objective?
Know the difference between continuous and discontinuous objective.
Know the following term's w.r.t. a firm's mission statement: width and stability.