MKTG 305 Study Guide - Midterm Guide: Operational Excellence, Statistical Inference, Semantic Differential
14 Mar 2017
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Document Summary
Chapters 8-14 80 points = 8% of your grade. Market-based management model (steps, description of each step) Probability samples are random samples (also stratified, systematic random, cluster) Non-probability samples (convenience, quota): problems with statistical inference. Tradeoff between cost of more segmentation versus satisfying customer needs. Product life cycle and plc strategies (sales, profits, 4p"s, competition in each stage(cid:524) Product development process (steps, what happens in each step) Gap analysis in service (expectations vs. perceived performance . ) Complaint handling (3 steps) from lecture notes. Elasticity (price sensitivity): price direction vs. change in total revenue. Calculating price from cost and gross profit margins. Distribution pricing calculations (cid:523)given consumer price, given manufacturer"s cost(cid:524) Return on sales, return on investment, target profit . You are allowed a simple calculator to make calculations (the variety): no business or scientific calculators, no cell phones. The calculations are simple enough to perform by hand without a calculator.
