FALL 2011 – MINI TERM II
EXAM STUDY GUIDE
The exam will be a traditional in-class closed-book/closed-notes exam that will test your knowledge and understanding of basic concepts from The Marketing Game! as well as the application of the Principles of Catholic Social Teaching to an ethical situation(s) in marketing. At the end of the exam, there may be some extra credit questions pertaining to The Marketing Game! and/or other topics (e.g., recent business articles from Bloomberg Businessweek or my personal library).
Application of the Principles of Catholic Social Teaching to an Ethical Situation(s) in Marketing After reading a business article(s) that will be distributed with the exam, be able to: 1. Present an insightful (not shallow) argument, based on the main tenets of Catholic Social Teaching (CST), about whether or not a company’s marketing practices, highlighted in the article, are ethical. When answering this question, you will have to apply germane concepts and a specific number of CST principles (the exact number of CST principles will be revealed the day of the exam) from Klein and Laczniak’s article, “Applying Catholic Social Teachings to Ethical Issues in Marketing,” as well as sound reasoning to support your position. 2. Present a sensible counter argument, backed by concrete reasons, to the position you took in Question 1. Note: The exact number of reasons will be revealed the day of the exam. Depending on the position you take in Question1, when answering this question, you will either be assuming the role of a marketing manager or consumer advocate. Note: A copy of the article, “Applying Catholic Social Teachings to Ethical Issues in Marketing,” by Thomas A. Klein and Gene Laczniak, will be given to you with the exam.
The Marketing Game! Exam Topics
1. Market Segments
2. Type of Product
3. Product Features
4. Customer Service
6. Distribution Channels
7. SalesRep Workload Index
8. Types of Advertising
9. Sales Promotion
10. Production Order Quantity
11. Elasticity of Demand
12. Correlation Analysis
13. Estimating a Competitor’s Gross Sales
14. Calculating Gross Sales, Gross Margin and Net Contribution 15. Assessing the Financial Impact of Cannibalization
Sample Exam Questions Concerning The Marketing Game!:
The exam questions about The Marketing Game! will be drawn from the following set of questions, beginning on the next page. Hence, you should be able to answer all of these questions by the time the exam begins. 1. At the beginning of The Marketing Game!:
a. Which market segment was the largest, based on unit sales? Harried Assitants b. Which market segment was the smallest, based on unit sales? Concerned Parents c. Which market segment was growing the fastest the period before your team began playing The Marketing Game!? Home Users d. Which market segment had the lowest growth rate the period before your team began playing The Marketing Game!? Concerned Parents e. Which market segment was growing the fastest during the three periods before your team began playing The Marketing Game!? Modern Students f. Which market segment had the lowest growth rate during the three periods before your team began playing The Marketing Game!? Concerned Parents 2. What type of product is manufactured and marketed by industry firms? What are the key product features? Voice Recognition Device-Error Protection, Special Commands, Ease of Learning 3. How is a product’s unit production cost determined? $4-Special Commands, $3-Error Protection, $2-Ease of Learning 4. If a firm’s product has 10 special commands, an error protection rating of 4, and an ease of learning rating of 4, what is the product’s unit production cost? (Show all calculations.)4x10=40, 4x3=12, 2x4=8 Unit Cost=$60 5. What does customer service refer to? After the sale Customer Service. Questions about the product. Website and Phone. 6. What three factors need to...