MKT315 - Final Exam Study Guide Spring Questions and Answers.

1. Profit equation 2. Pricing strategies (skimming, penetration, etc.) a. Penetration, Skimming, Competition 3. Wholesalers, retailers; a. Merchant wholesalers – buy and take title to merchandise: b. General merchandise wholesalers – broad selection of products c. Specialty merchandise wholesalers – limited selection, often due to special handling needs (frozen foods) d. Retailers: is the process that enables the sale of products and services to end-user consumers, including business consumers and individuals at their homes. 4. Intermediary functions 5. Managing distribution channels a. the continuing conversation among distribution partners, often led by a channel captain, as the partners seek to improve efficiency and avoid conflict while servicing consumers with goods and services. 6. Types of retailers a. Levels of service b. Type of merchandise c. Breadth and depth of merchandise d. Ownership e. Retail concept 7. Pricing strategies 8. Pricing metrics: breakeven, ROI 9. Demand curves, price elasticity 10. Push and pull strategies a. The coordination of communication by retailers and manufactures to create the optimum conditions for the consumers to receive and act on promotional messages. 11. Integrated marketing communications a. Integrated marketing communications: the systematic collective effort of all marketing mechanisms within a business to reinforce and support one another in order to achieve the desired marketing goals. Consistency is key 12. Elements of the communications process a. Sales promotion, advertising, public relations, direct marketing, personal selling 13. Promotional mix and the uniqueness of each component a. Advertising (TV, radio, newspapers, & magazines), Sales promotion (consumers, distribution channel partners *immediate*), personal selling (sales person engages with possible customer), Public Relations (improve the image), Direct Marketing (communications that can be personalized *Data Base*) 14. Types of promotional budgets a. Percentage of Sales, Competitive parity, objectives and tasks, all-you-can-afford 15. Elements of the creative process 16. Types of sales promotions (rebates, coupons, contests, premiums, samples, etc.) a. Coupons, price discounts, contest or sweepstakes, premium, sample, rebate 17. Performance measures digital marketing 18. Elements of digital m