Final Exam – study notes / 9 questions – Principles of Marketing

Use text from “Essentials of Marketing 7th Edition ISBN: 9780538478342 (Chapters 8-11, 14 & 15)

1. Why do marketers study consumer behavior? Describe 4 reasons.

2. Describe the three types of selective perception, with an example of each.

3. What is geographic segmentation? List 4 reasons why a company would use a regional marketing approach.

4. What is geodemographic segmentation? What is the result of geodemographic segmentation? Give one example that illustrates this type of segmentation. Why would a company choose to use this method.

5. List three major benefits of marketing research to managers. In addition, discuss why most research efforts rely on secondary data and usually collect secondary data before primary data are collected.

6. Explain why some products fail and others succeed. Discuss why test marketing is beneficial.

7. There are five categories of adopters that participate in the diffusion process, name and describe each of these five categories in the correct order from earliest adopter to last adopter. (Use the product life cycle in your explanation.)

8. You are the promotions director for Healthy Crispy Waffers, a baked snack cracker . Describe the steps in your communication process in your promotion campaign, use an example of the actions that will take place in promoting the crackers

9. Marketing mix is made up of a blend of promotional tools. Name and define each of these concepts. Also, describe the marketing mix concept that is best used in each stage of the product life cycle. .