Intro to Marketing Final Review

1. Explain the importance of the marketing mix.

Product Price Promotion Place

2. Describe and analyze the marketing management functions.

Developing marketing strategies and plans Capturing marketing insights Connecting with customers Building strong brands Shaping marketing offerings Delivering value Communicating value Creating long term growth

3. Explain the elements of a marketing plan.

Executive Summary Situation Analysis Marketing Summary Target market Market Demographics Geographics Demographics Behavior factors Market Needs Trends and Growth S.W.O.T. Analysis Strengths Weaknesses Opportunities Threats Competition Product Offering Keys to Success Critical Issues Marketing Strategy Mission Marketing Objectives Financial Objectives Target Markets Positioning Strategies Marketing Mix Distribution Price Advertising and Promotion Customer Service Marketing Research Financials Breakeven Analysis Sales Forecast Expense Forecast Controls Revenue Expenses Customer Satisfaction New Product Development Implementation Marketing Organization Organization Chart Contingency Planning Difficulty and Risks Worst Case Scenario

4. Describe the stages of the product life cycle.

Introduction Growth Maturity Decline

5. Explain and analyze the advantages and disadvantages of entering