Part I - Business Marketing

1. What is business marketing and what distinguishes business products from consumer products?

2. Discuss how businesses measure online success.

3. Briefly describe the four major categories of customers in business marketing.

4. Name and briefly describe five of the major differences between business and consumer marketing.

Part II - Segmenting and Targeting Markets

1. What is psychographic segmentation?

2. Discuss why marketers use it as the basis for segmenting markets.

3. What is usage-rate segmentation? What is the 80/20 principle, and how does it apply to usage-rate segmentation?

Part III - Product Concepts

1. What is a universal product code (UPC)? How does the use of UPCs benefit retailers?

2. Name and describe the two labeling forms.

3. What purposes does branding serve?

4. Universal product codes (UPCs) can perform all the following functions EXCEPT:

a. allow scanners to match codes with brand names, package sizes, and prices.

b. print product and price information on cash register tapes.

c. assist retailers in preparing records of customer purchases.

d. allow retailers to accurately track sales and control inventories.

e. provide the detailed nutritional information required by the FDA.

Part IV - Marketing Research

Callaway Golf Co.: Callaway Golf Co. has long been a leader in women's golf equipment, but it wanted to expand its lead in this growing sector of the market. While Callaway's technical people knew what could be done with design, they did not know exactly what women wanted in their clubs. Callaway management decided what it needed to do was to bring the technicians and women golfers together. Beginning about three years ago, Callaway sent a team of researchers, designers, and golf pros out to visit with 40 women golfers of various abilities in locations from California to Florida. In selecting the golfers to study, Callaway decided to focus on women who were just beginning to play, as well as, experienced, competitive golfers who wanted to own the latest equipment. Callaway management felt that these two extreme groups of golfers had been overlooked by golf club manufacturers.

Further, Callaway felt that if enough could be learned about these two groups, then the company would also learn enough to serve the rest of the women golfer market. Basically, the research team observed the women playing golf and listened to their comments and concerns. The information gathered by this research team was built into every aspect of the design of a new golf club, including the feel of the club, the length of the club shaft and size of the club head, and the weight of the club. When prototypes of the new clubs were completed, they were sent to the women golfers to get their feedback. That feedback was then used to refine the club design. This process went on until the women said the new clubs greatly enhanced their game. The entire process from original prototype to final product took a little less than one year.

1. Refer to Callaway Golf Co. The type of research gathered by the Callaway Golf research team would be called:

a. secondary

b. developmental

c. descriptive

d. subjective

e. focus group

2. Refer to Callaway Golf Co. When Callaway researchers asked questions like "What bothers you the most about your irons?" What type of questions were they asking?

a. Scaled response

b. Close-ended

c. Dichotomous

d. Open-ended

e. Multiple answer

3. Refer to Callaway Golf Co. When Callaway researchers asked questions like "Now that you have played with the new club, how likely would you say you would be to buy it?" they asked golfers to respond on the following scale:

1 = would definitely not buy it 2 = would probably not buy it 3 = might or might not buy it 4 = would probably buy it 5 = would definitely buy it. What type of question is this?

a. Scaled response

b. Limited response

c. Dichotomous

d. Open-ended

e. Multiple answer

4. Refer to Callaway Golf Co. Callaway used its contacts at golf courses around the country to find the 40 women for its study. The 40 women would most likely be called a _____ sample.

a. systematic

b. convenience

c. cluster

d. stratified

e. random

5. What is marketing research? Name and briefly describe the three functional roles of marketing research.

6. List in order the seven steps of the marketing research process.

7. Name two advantages and two disadvantages of using primary data. Also name two advantages and two disadvantages of using secondary data.