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Topics: Marketing
Principles of Marketing Exam 1 Study Guide
Chapter 1
1. Define Needs, Wants and Demands. Provide examples.
2. Define Marketing Offers. Provide examples.
3. Define Market. Provide examples. What is the difference between consumer market and industrial market?
4. Define Customer Delivered Value (Customer Perceived Value). How do customers choose among alternative products? Provide examples.
5. What are the components of total value and total costs? Provide examples.
6. Why customer satisfaction is important? How to increase customers’ satisfaction?
7. What are the factors influencing customer expectations? Provide examples.
8. What is customer relationship management? Why it is important to develop relationship with customers? What is customer life time value?
9. List the stages of business evolution (marketing management orientations) and describe briefly every orientation (provide examples).
10. Describe considerations underlying the societal marketing concept.
11. Give examples of needs and wants of Build-A-Bear’s customers (parents and children), differentiating these concepts. What are the implications of each on Build-A-Bear’s actions?
12. In detail, describe all components of Build-A-Bear’s marketing offering (product+ service+ experience). What is being exchanged in a Build-A-Bear transaction?
Chapter 3
1. What is the difference between micro and macro environment? List forces of micro and macro environment.
2. Describe and provide examples of political and legal forces.
3. Describe and provide examples of economic forces.
4. Describe and provide examples of social and cultural forces.
5. Describe and provide examples of technological forces.
6. Describe and provide examples of natural environment forces.
7. Describe and provide examples of internal environment (company) forces.
8. Describe and provide examples of publics.
9. Describe and provide examples of marketing intermediaries.
10. Describe the major changes in a modern

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