1MA3 - Midterm Learning Objectives
Chapter 3:
1. Outline how the factors in a firms microenvironment influence its marketing
strategy.
2. Identify the factors in a firms macroenvironment and explain how they influence the
overall marketing strategy.
3. Identify important social and natural trends that impact marketing decisions.
Chapter 4:
1. Describe the steps in the consumer buying decision process
2. Identify what determines how much time consumers will spend searching for
information before buying a product or service
3. Summarize how psychological, social, and situational factors influence consumers’
buying behaviour
4. Explain how involvement influences the consumer buying decision process
Chapter 5:
1. Describe the nature and composition of B2B markets
2. Explain the key differences between B2B and B2C buying
3. Explain the ways B2B firms classify and segment their markets
4. Describe the B2B buying process
5. Identify the roles within the buying centre
6. Detail the different buying situations
Chapter 6:
1. Describe the bases marketers use to segment a market
2. Identify the criteria for determining the attractiveness of a segment & whether it is
worth pursuing (targeting)
3. Explain the differences among targeting strategies: undifferentiated, differentiated,
concentrated, or micromarketing
4. Describe positioning & how firms do it
Chapter 7:
1. Identify the five steps in the marketing research process
2. Describe the various secondary data sources
3. Describe primary data collection techniques and summarize the differences between
secondary data and primary data
4. Outline ethical issues firms encounter when conducting marketing research
Chapter 8:
1. Identify the reasons firms create new products
2. Describe the diffusion of innovation theory and how managers can use it to make
product line decisions
3. List the stages involved in developing new products and services
4. Describe the product life cycle and summarize how it is used to make product line
decisions
Chapter 9:
1. Describe the components of a product
2. Identify the types of consumer products
3. Explain the difference between a product mix’s breadth and a product line’s depth
4. Identify the advantages that brands provide firms and consumers
5. Summarize the components of brand equity
6. Describe the types of branding strategies used by firms
7. State how a product’s packaging and label contribute to a firm’s overall strategy
Chapter 10:
1. Describe how marketing a service differs from marketing a product by applying the
principles of intangibility, inseparability, inconsistency, and inventory
2. Outline the four gaps in the Gaps model used to understand and manage customer
expectations
3. Describe strategies that firms can use to help employees provide better service
4. Identify three service recovery strategies
