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Lecture 4

MKT 220 Lecture 4: Test 1 Review

Course Code
MKT 220

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MKT 220 Exam 1 Review
ch 1 -Overview
*Define marketing
*What is "exchange"
*Conditions necessary for a satisfying exchange
*3 classifications of products
*Marketing orientation
*The 4 P's (marketing mix)
*What is relationship marketing? Why is it
*What is CRM?
*What is the central focus of all marketing
*What are stakeholders?
*Marketing management - planning,
organizing, implementation, & control
ch3 - Marketing Environment
*Marketing Environment Forces - understand each force
*How does the marketing environment
impact marketing decisions and efforts?
*Different types of competitors
*Different competitive structures - characteristics
*Procompetitive v. Consumer Laws
*Types of competitors
*Environmental scanning & analysis
*Stages of the business cycle (P, R, D, R)
(characteristics of each) & implications for marketers
*Major federal regulatory agencies
ch6 - Target Market Segmentation
*Classification of markets (2)
*4 types of business markets
*segmentation variables for consumers
(demographics, pyschographics, etc)
*Attributes necessary to be considered part of a market
(need, ability, willingness, authority)
*Segmentation strategies (differentiated, etc.)
-- advantages & disadvantages of each strategy
*Factors to consider for evaluating which segments to
*Market potential v. company sales potential
*Importance of developing segment profiles
*Define segmentation & market segment
*Steps in the target market selection process
*Common forecastig techniques
Marketing- process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate
exchange relationships with customers in a dynamic environment
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