Identify and discuss the challenges involved in collecting environmental data and information. How can a marketing manager or analyst overcome these problems?

MKTG 4050: Applied Marketing Management Exam 1 Guidelines & Preparation Spring 2017

Exam 1 will cover chapters 1, 3 and 4 and other notes. It will be held on February 22 in class. The information on this exam will be drawn from the text, charts,

graphs, and figures. The Exam will contain 20 multiple choice and 4 essay questions.

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Sample essay questions:

(1.1) The text discusses seven challenges and opportunities associated with marketing in today’s economy. Identify these issues and discuss how they are related. What

is the common thread that ties all seven issues together?

(1.2) Discuss the different views or interpretations of marketing as a function of business, including the AMA’s recent change in the definition of marketing. Why do

you think the AMA changed the definition after 20 years?

(1.3) Briefly explain and discuss the five types of utility discussed in Chapter 1. Which type(s) of utility is the most important and why?

(1.4) Discuss the challenges and opportunities associated with planning and developing marketing strategy in today’s economy. Why is marketing strategy both exciting

and challenging?

(3.1) Why have ethics and social responsibility become so important in recent years? Why is it important that marketing ethics be incorporated into the firm’s

strategic plan?

(3.2) Draw, label, and explain the pyramid of social responsibility. What are the requirements for a firm if it truly wants to be ethical and socially responsible?

(3.3) Describe the role that a code of conduct plays in ensuring ethical compliance within a firm. How should a code of conduct be developed, what should it contain,

and what are the keys to ensuring that the code is successfully implemented?

(3.4) What is the relationship among marketing ethics, strategic planning, and organizational performance? How is being market oriented different than having a

stakeholder orientation?

(4.1) “Analysis alone is not a solution” is an important piece of advice to keep in mind during a situation analysis. What does this phrase mean? If analysis alone is

not a solution, what other considerations are relevant during a situation analysis?

(4.2) Identify and explain each element of the 5W model for customer analysis. What role does this analysis play in an overall situation analysis?

(4.3) Identify and discuss at least five reasons why potential customers do not purchase a firm’s goods or services. For each reason, discuss ways that the firm can

overcome the resistance of noncustomers.

(4.4) Identify and discuss the challenges involved in collecting environmental data and information. How can a marketing manager or analyst overcome these problems?

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