Exam 2

1
Exam 2

• Next Tuesday Oct 28, 2008
• Chapters 7 through 10 2 HBR articles.
• The test is worth 20 of your grade.
• 40 multiple choice questions worth 120 points 8
  short answer questions worth 80 points.
• Material from the text, class discussions, and
  the reading material.
• 20 definitional 80 application-oriented
  Implications Take-aways

2
Components of MC Questions from Exam 2

• Chap 7 - 10 Questions (2 short answer qs)
• Chap 8 - 10 Questions (2 short answer qs)
• Chap 9 10 Questions (2 short answer qs)
• Chap 10 - 10 Questions (1 short answer qs)
• 1 question from the HBR readings (consumption
  chain and / or blue ocean strategy)

3
Examples of definitional questions

• Define positioning?
• What are the segmentation bases?
• What are the steps in new product development
  process?
• What is test marketing?

4
Definitional question

• A conjectural statement or a preliminary
  assumption about a certain problem (or set of
  circumstances) is known as
• Hypothesis
• Research design
• Intuition
• Observables

5
Definitional question

• _____ products are products (for example, burial
  plots, flu shots, life insurance etc.) that are
  not known about or not actively searched for by
  consumers. These products require aggressive
  personal selling and highly persuasive
  advertising.
• Specialty
• Unsought
• Convenience
• Shopping

6
Applied question

• After General Mills evaluated many new cereal
  ideas and before any prototype was created, the
  cereal company selected three ideas to present to
  a group of consumers. The consumer group was
  asked to evaluate the written descriptions for
  the three product ideas in terms of their
  marketability. This stage of new-product
  development is called
• Concept testing
• Business analysis
• Test marketing
• Simulated test marketing