Unit II Review
Chapter 8
·
Know the difference
between primary and secondary data
·
Know the difference
between qualitative and quantitative data
·
Know the different ways
that primary data can be collected – survey, observation, focus group,
experiment. Understand the different
components of each method, whether you are likely to get qualitative or
quantitative data and the dependent an independent variables of experiments.
·
Know the difference
between population and sample; in other words be able given an example to
differentiate between the two.
·
Understand the
different ways of selecting a sample (random/probability vs non-probability.
·
Understand the
different types of forecasting and how they are used
·
Understand the concept
of selecting a target market by being able to determine what segmenting
dimensions would most likely be used to describe a particular one.
·
Understand strategies
of one product/multiple segments; multiple products/multiple segments; mass
customization
·
Know the criteria for a
good segment and be able to apply it
·
Understand how cross
tabs are used
·
Understand how
positioning works and given a scenario be able to determine the position of a
product on the grid.
·
Understand the concept
of product classification; be able to given an example decide what type of
classification would be most likely
·
Understand how product
classification relates to decision making for both consumer and organizations
·
Be able to answer the
question “What is a new product?”
·
Understand the
different degrees of new consumer learning for a new product
·
Know why new products
fail
·
Look at the stages in
the new product process
·
Know what slotting fees
and failure fees are
·
Understand the concept
of Product Life Cycle; be able to identify what strategy might be most
appropriate given where an individual product might be in the product class
life cycle
·
Be able to look at a
product life cycle and understand what is happening such as the length of time
a product class might stay in a particular stage, why profits decline before
sales, shape of the curve
·
Know what primary and
selective demand are and where they occur in the Product Life Cycle
·
Understand the Product
Life Cycle in the context of product class and product form
·
Look at the profiles of
product adopters
·
Know ways to manage the
Product Life Cycle
·
Understand the concepts
of brand personality and brand equity
·
Understand branding
strategies; where they are and where it is appropriate to use each.
·
Look at the role of
packaging
·
Understand the 4 I’s of
service and how services differ from products
·
Look at service
classifications
·
Understand how
consumers evaluate services
·
Understand how
marketers manage services