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Exam 1 • Chapters 1, 2, 3, 4, 5 and 6. • 45-55 multiple choice questions • Brown scantron (UNLV student union offers free) • Material from the text, class discussions, and the video material. • 30% definitional; 65% application-oriented, 5% comprehension( Implications,Take-aways) Examples of definitional questions • Define marketing? • What are the marketing mix factors? • What are the components of marketing strategy? • What is inflation? • What is a recession? • What is perception? Definitional question - Example • 1. A(n) ………….is a defined group that managers feel is most likely to buy a firm’s product. • A) target market • B) buying center • C) aggregated unit • D) consumer cluster • E) demographic sample Definitional question - Example • 1. A(n) ………….is a defined group that managers feel is most likely to buy a firm’s product. • A) target market • B) buying center • C) aggregated unit • D) consumer cluster • E) demographic sample Definitional question • International trade does not always involve cash. Sometimes companies accept all or part of the payment for goods or services in the form of other goods and services. This is known as: a) Export trading b) Crossdocking c) Exchange modification d) Domestic barter e) countertrade Definitional question • International trade does not always involve cash. Sometimes companies accept all or part of the payment for goods or services in the form of other goods and services. This is known as: a) Export trading b) Crossdocking c) Exchange modification d) Domestic barter e) countertrade Applied Question • Last summer, P. Diddy & family had to make the decision of whether to buy a new car, go to the seashore for a couple of weeks, or redo their game room. They chose the beach. This decision illustrates ________ form of competition. • A. Direct • B. Indirect • C. Budget (or general) • D. Discretionary Applied Question • Last summer, P. Diddy & family had to make the decision of whether to buy a new car, go to the seashore for a couple of weeks, or redo their game room. They chose the beach. This decision illustrates ________ form of competition. • A. Direct • B. Indirect • C. Budget (or general) • D. Discretionary Applied Question • When DataComp Corp., a computer manufacturer, delayed the introduction of its high powered computer called "MACRO" to modify the computer design and change the warranty clauses, magazine advertisements that were scheduled to be printed announcing the launch of MACRO had to be revised. In this case, a change in the ___________ variable caused changes in the ___________ variable of the marketing mix. Answer Choices for the previous question • • • • • a. b. c. d. e. distribution; promotion distribution; price production; promotion product; promotion promotion; price Answer Choices for the previous question • • • • • a. b. c. d. e. distribution; promotion distribution; price production; promotion product; promotion promotion; price Applied Question • Boldnew, the maker of a highly innovative light bulb, finds that it has excess inventory. Boldnew decides to use personal selling and advertising to convince customers to buy their bulbs. So, the firm increases its advertising budget by 50 percent and doubles its sales staff to pressure the consumers to buy the product. This company is operating as if it were in which of the following paradigms? Answer Choices for # 3 • • • • • a. b. c. d. e. Production orientation. Sales orientation. Marketing orientation. Customer orientation. International orientation. Answer Choices for # 3 • • • • • a. b. c. d. e. Production orientation. Sales orientation. Marketing orientation. Customer orientation. International orientation. Comprehension question • People tend to be more satisfied with a purchase if: • A) they obtain information that reinforces their decision • B) they feel less competent in their daily lives • C) cognitive dissonance develops • D) there is inconsitency among opinion and values • E) there is no further contact with the seller Comprehension question • People tend to be more satisfied with a purchase if: • A) they obtain information that reinforces their decision • B) they feel less competent in their daily lives • C) cognitive dissonance develops • D) there is inconsitency among opinion and values • E) there is no further contact with the seller