MAR- 1011 Principles of Marketing Final Exam|complete questions and answers, A+ Guid

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MAR- 1011 Principles of Marketing Final Exam 1. Explain what a marketing channel is and why intermediaries are needed 2. Discuss the issu... es that influence channel strategy 3. Define the terms supply chain and supply chain management, and discuss the benefits of supply chain management 4. Identify the eight key processes of excellent supply chain management, and discuss how each of these processes impacts the end customer 5. Discuss the importance of retailing in the U.S. economy 6. Describe the major types of retail operations 7. What is a promotional strategy? Explain the concept of a competitive advantage in relation to promotional strategy. 8. Discuss the AIDA concept and its relationship to the promotional mix 9. Discuss the reasons why new brands with a smaller market share spend proportionately more on advertising than brands with a larger market share. 10. At what stage in a product’s life cycle are pioneering, competitive, and comparative advertising most likely to occur? Give a current example of each type. 11. What forms of consumer sales promotion might induce impulse purchases? What forms of sales promotion are more effective at persuading consumers to switch brands? 12. What are the major advantages of personal selling to the company selling a product? What are the advantages to the person or company buying the product? 13. Why is pricing so important to the marketing manager? 14. Explain the role of supply and demand in determining price. 15. What is the difference between a price strategy and a price tactic? Give an example. 16. What are the three basic defenses that a seller can use if accused under the Robinson-Patman Act? 17. Briefly explain the concept of a customer-centric focus. Why is this so important in a customer relationship management process? 18. Identify the six components of the CRM process. 19. Which social media tools do you think are the most useful for most businesses? Why? 20. What are some ways that social media has changed your daily life? What can marketers take advantage of for their promotional purposes? [Show More]

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