Download Marketing Final Exam Study Guide

Marketing Final Exam Study Guide
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The test will include:
True False questions
Multiple Choice questions
Completion (Fill in) questions based off of vocab words
Short answer questions
Directions: Complete the study guide by outlining all of the following
below:
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9 Marketing Functions
Chapter 1-6 Vocabulary Words
Marketing Concept
4 P’s of Marketing
Ethics
Draw and label the 3 curves – Supply, Demand, and Market Price
Macroeconomics vs. Microeconomics
List and describe the types of economies
List and describe the types of economic competition
Basic Economic Problem – Scarcity – What is it?
Factors affecting demand
How marketing wastes money
Match supply and demand
Self regulation
5 Stages of a decision
Identifying, understanding, and satisfying customer needs
Internal vs. External Information
Final vs. Business Consumer
Maslow’s Hierarchy of Needs
3 Buying Motives
Factors that make up personal identity
3 Types of decision making
5 Steps of the scientific method
Review all notes
Possible Short Answer Questions
1. List Abraham Maslow’s hierarchy of needs in order from bottom to top and
give an example of each
2. Name and define the 5 steps in the Marketing Scientific Method
3. Name and define the 5 stages in the consumer decision making process
4. Draw and label: demand, supply, and market price curve
5. Name and describe the 4 types economies
6. Name the 4 P’s of Marketing
7. Name and describe the nine major marketing functions
8. Name and describe the 4 types of economies
9. Define the marketing concept and explain why businesses adopt to it
10.Explain in depth why businesses adopt codes of ethics
11.Define the four forms of economic competition and give an example of each
12.Explain what is meant by the laws of supply and demand
13.Define and explain these types of competition: intense, limited, and
monopolistic
14.Identify four ways that marketing is different today than it was in the past,
give examples
15.Identify the 5 elements of a marketing information system and explain the
purpose of each element
16.Explain rational, emotional, and patronage buying motives and provide an
example of each
17.Explain why and when consumers use routine, limited, and extensive
decision making