Marketing Management (MKTG 4355/5355)

Marketing Strategy (MBA 6308) Exam 2 - Review Fall 2007

The exam will be part multiple-choice and part essay: 15 to 20 multiple choice questions and two written questions. The time to take the test will be 2:00pm – 3:15pm.

Multiple choice questions will be only those related to material covered in the powerpoint handouts.

Chapter 6 – Analyzing Consumer Markets Culture, subculture, social classes Reference groups Personality and self-concept Perception – selective attention, selective distortion, selective retention Why do we buy the things we buy? Study material related to class handouts

Chapter 7 – Analyzing Business Markets Business market vs. Consumer market (pp. 210-212) Buying situtations Study material related to class handouts

Chapter 8 – Identifying Market Segments and Targets Levels of market segmentation Bases for segmenting consumer markets: geographic, demographic, social class, age and life-cycle, user status, user rate, behavioral, occasion, benefit, etc. Study material related to class handout

Chapter 9 – Creating Brand Equity Understand the following: Brand equity and Building brand equity Devising a branding strategy Study material related to class handout

Chapter 10 – Crafting the Brand Positioning Developing and communicating a positioning strategy Positioning (Ries and Trout), Value Disciplines positioning (Treacy and Wiersema), Points of Parity and Points of Difference Differentiation Study material related to class handout

Written Questions: Written question(s) will be selected from the following topics. The actual question(s) may be altered somewhat. Your grade will be based on clarity, organization, thoroughness, mechanics (eg, proper grammar) and insight, and how your responses compare with that of other students.

1. Why should firms segment the market? As discussed in class and in the text, markets can be segmented at different levels (segment marketing, niche marketing, local marketing, etc.). What is customerization? Is customerization the BEST way for firms to market their products? Why or why not? Give concrete examples in your explanation

2. What is brand equity and why is it important for companies and consumers? Give example. Identify a brand management strategy and explain how the company can benefit from its application. Give example.

3. Explain the difference between Points-of-Parity (POPs) and Points-of-Difference (PODs). How can a company effectively use POPs and PODs to effectively position itself (or its products)? Give example(s)

4. One common difficulty in creating a strong, competitive brand positioning is that many of the attributes or benefits that make up the POPs and PODs are negatively correlated – Explain. How can firms address the problem of negatively correlated POPs and PODs? Give examples.