Marketing MMTE 101 Fall 2024 Final Exam Study Guide PDF

# Marketing – MMTE 101 – Fall 2024 ## Final Exam Study Guide This guide is illustrative rather than exhaustive. You cannot leave the exam venue in the first hour. The final exam will be conducted via eLearn lockdown browser. ## Multiple Choices Questions = 28 points ### Overview of marketing -...

# Marketing – MMTE 101 – Fall 2024 ## Final Exam Study Guide This guide is illustrative rather than exhaustive. You cannot leave the exam venue in the first hour. The final exam will be conducted via eLearn lockdown browser. ## Multiple Choices Questions = 28 points ### Overview of marketing - Value in exchanges - Definitions of marketing, e.g., Managing Profitable Customer Relationships ### Strategies - SWOT analysis ### Ethics - 2 theories of ethics (Deontology, Utilitarianism) ### Scanning the environment - Demographic, social, technological, etc., forces - Some dimensions of cultural differences (individualism vs. collectivism) ### Consumer Behavior - Cultural, social, individual, and psychological factors - Social influences: reference groups, family influences - Individual consumer psychology: aspects of attention, learning, memory - 5 steps of consumer decision making process ### Marketing Research - Primary vs. Secondary data - Causality and endogeneity problems in secondary data analysis - Examples of data collection methods (pros and cons) - **qualitative**: focus group, depth/ethnographic interview - **quantitative**: survey, observational method, lab experiment, field experiment, natural experiment - What is big data? Why are many companies crazy about its use? ### STP - Willingness to pay, consumer surplus - Bases for segmentation ### 4Ps - Goods-service continuum - Utilitarian – hedonic continuum - Cost plus pricing - Perceived value pricing - Bundle pricing - Captive pricing - Even - odd pricing ### What will not be covered: - Portfolio Matrix - Developmental stages of ethical decisions ## Open ended questions = 28 points 1. Below is the information for a stuffed animal toy factory: - Building rent: $4,000; - Sewing equipment lease: $20,000; - Materials cost per unit: $2; - Management salaries: $36,000; - Sales price per unit: $4. - (1) What is the fixed cost? - $4,000 + $20,000 + $36,000 = $60,000 - (2) What is the per unit profit? - $4 - $2 = $2 - (3) What is the breakeven unit? - $60,000 / $2 = 30,000