MKT 300
Review Sheet - Exam 1
Key Concepts and Terms

Chapter 1 - Introduction to Marketing

• marketing
• exchange
• marketing functions
• utility (form, place, time, possession, information, service)
• the marketing concept
• marketing management
• the marketing mix (4 Ps)
    • product
    • place (distribution)
    • promotion
    • price
• the customer
• stakeholders
• integrated marketing
• internal marketing
• relationship marketing
• transactional marketing
• value package
• the marketing process
• target market
• positioning

Chapter 2 - Strategic Planning

• business definition (mission statement)
• situation analysis (internal factors, external factors)
• SWOT analysis
• core competencies
• strategic window of opportunity
• marketing objectives
• marketing strategy
• marketing strategy tools:
    - market growth-market share matrix
        - cash cows, dogs, stars, question marks (problem children)
    - market attractiveness-business strengths matrix
• marketing tactics
• marketing control
• marketing audit
• cross-functional teams
• goals/objectives
• market share
• marketing plan
• mission/mission statement
• organizational culture
• strategic alliances
• value chain

Chapter 3 - Environmental Analysis

• uncontrollable variables
• marketing environment
    - internal environment
    - external environment:

• social-cultural environment

- demographic factors (e.g., shifts in the workforce, increased levels of education, changing makeup of families)

- cultural factors (e.g., changing gender roles, cultural diversity, changing values)

• economic environment

- inflation, productivity, unemployment

• competitive environment

- competitors, nature of competition, competitor strategies

• legal-political environment

- rules/regulations, legislation

• technological environment

- technological innovation

• ecological environment

- recycle/reuse/reduce, "green marketing"

• environmental scanning/environmental analysis/environmental diagnosis
• social responsibility
• code of ethics

 Chapter 4 - International Marketing

• global marketing/international marketing
• domestic marketing
• import, export
• economic communities
• trade agreements (GATT, EC, NAFTA, others)
• domestic firms, international firms, multinational corporations, global corporations
• developed (industrialized) nations, developing nations, less-developed nations
• reasons for going international
• entry stages:

- exporting
- licensing, franchising
- joint ventures
- direct ownership/direct investment

• international environmental conditions:

- economic factors
- financial factors
- cultural factors
- political factors

• international marketing strategy:

- customized marketing strategy/localized approach
- global marketing strategy/standardized approach

• trade protectionism:

- tariff, quota, embargo

• barter
• exchange rate