MKT 571 ENTIRE COURSE
MKT 571 Week 1 Individual Assignment Researching Marketing Questions
Instructions: Purpose of Assignment This assignment is designed to help students analyze and interpret primary and/or secondary data and research. First, students will be provided with a marketing report that allows for preparing basic executive level data insights. Second, they will be allowed to pick a company and product or service. This assignment will help prepare students for the development of their marketing plan. Students will be creating a marketing plan (refer to Marketing Plan and Outline document) so they may want to choose a company and product or service that has data readily available or where they can use demographic/psychographic data to provide insights. Assignment Steps Part 1: Analyze the Week 1 Business Growth Overview dataset. This is a marketing report generated by an analyst for the Senior Vice President (SVP) of Marketing at a large corporation. The analyst is new and has provided summary data but no insights or commentary for the SVP. Construct a minimum 525-word memorandum for the SVP providing insights and commentary. The memorandum should include your analysis of the following:
- Major areas of increase and decrease in revenue or type and/or category of business
- Trends that are evident in terms of revenue or type and/or category of business
- Insights that would help formulate marketing strategies to either continue growth or reverse decline
- Additional analysis you (if you were SVP) would like to build a marketing goal and strategy or strategies (and why) Part 2: Select a global or multi-regional (does business in more than one country) company and one of its products or services that will serve as the basis for your marketing plan. You should obtain two years of annual reports as well as two years of 10K reports (provides a comprehensive overview of the company's business and financial condition and includes audited financial statements) for your data source. Once you have selected your product or service, you must define the size and type of your selected company that provides the product or service (available from annual reports). This need not be elaborate but must include total number of employees, production volume, distribution methods, and so forth. Record this information in a summary document as outlined below. Company and product selection is a critical part of this project. You must ensure your proposed company can implement the marketing methods discussed in Marketing Management. Prepare a minimum 175-word summary document and send it to your instructor as a record of your selection. The summary document should include the following:
- Name of Company
- Location of Company Headquarters
- Name of Product or Service selected
- General description of company (number of employees, revenue, type of ownership, web page, etc.)
- General description of product or service Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.
MKT 571 Week 2 Learning Team Charter
Instructions: Overview in this course, your team will work together to complete a few assignments. This chartering assignment is designed to help you apply your project management skills to understand the scope of your project, then break the project into goals, tasks, responsibilities, resources, and milestones. The assignment also asks you to discuss and answer some questions that will lay the foundation for developing your project. Beyond the Standard Charter You will notice that this chartering process goes beyond your standard University of Phoenix Charter by helping your team create a project plan for team success by providing you with opportunities to define your deliverables, recognize the connections between the deliverables and other classroom activities, determine your timelines and milestones, identify each team member's expected contribution, and answer questions that lay the foundation for building your projects. Putting "I" in "Team" Important to note is the section for defining Learning Team expectations related to participation, collaboration, communication, team contributions, assignment deadlines, and other considerations. Please take the time to discuss and document how your team will address each area and any challenges that may arise. It is important to understand that we are "Putting 'I' in 'Team'". In short, we will recognize and reward individuals according to their contributions to team output, not according to their team membership. This means that individual grades may be different from the team grade depending on each individual's contribution to each team deliverable. Completing This Assignment Review the Charter and Project plan. Review the weekly Learning Team deliverables. Complete the provided Learning Team Charter and Project Plan, including the following: team member contact information, project by week, Learning Team expectations, team discussion questions. Click the Assignment Files tab to submit your assignment.
MKT 571 Week 2 Individual Assignment Understanding Target Markets
Instructions: Purpose of Assignment To develop effective relationship marketing, a company must first understand its targeted consumers' buying influences and behaviors. This week's assignment is the first part of the development of a marketing plan. It provides the foundation of the marketing plan and introduces the student to a variety of diagrammatic tools for understanding a business. Assignment Steps To develop effective relationship marketing, a company must first understand its targeted consumers' buying influences and behaviors. In Week 2, create the Research section of your plan. Create the research section of your marketing plan in minimum of 700 words. Include at least 3 elements of the Research List of Topics (see list below):
- Research List of Topics:
- Primary Research
- Secondary Research
- Consumer Analysis
- Customer Profile
- Continuous Consumer Monitoring & Research
- Environmental Scanning
- Identify Market, Economic, Technological, Regulatory, Legal, Social, and Ecological Forces
- Current Opportunities
- Potential Future Opportunities
- Current Threats
- Potential Future Threat
- Diagrams are not required but can be used to provide clarity and conciseness. Diagrams (and subsequent discussion) can include SWOT (emphasizes internal market--Strengths, Weakness, Opportunities, Threats) TOWS (emphasizes the external market-Threats, Opportunities, Weakness, Strength), PEST (Political, Economic, Social, Technological), SOAR (Strengths, Opportunities, Aspirations, Results), and/or STEEP (Social, Technological, Environmental, Economic, Political). All diagram(s) should be in APA format and must include a subsequent discussion of the diagram(s) providing insight and clarity. Develop the first two parts of the Target Market section, which includes an overview of the demographics (age, income, family members, and birthdays) and psychographics (activities, interests, and opinions) analysis. This is not a detailed analysis but an overview (basic trends and insights from the data that is presented in annual reports and other SEC type filings).
Explain the insights you have gained from your inspection and analysis of the demographic and psychographic information you have found.
This assignment will be incorporated into your overall marketing plan for Week 6. Cite a minimum of three peer-reviewed references. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.
MKT 571 Week 3 Individual Assignment New Product Launch
Instructions: Purpose of Assignment Understanding the various phases of a product or service lifecycle is critical when addressing a market. If your product is in decline and the competitor's product is in growth, your strategy for the product or service will be different. This exercise will enable students to demonstrate an understanding of both their product/service life cycle stage and a competitor's product. It is designed to help students explore product mix strategies in the various phases of a product or service life cycle. This tool is critical when addressing a market penetration, market saturation or product/service decline. Assignment Steps Resource: Plunkett Research Online located in the University Library. Design a minimum 1,050-word New or Product Refresh Product Launch Plan in Microsoft® Word. The product launch plan will be for two markets: U.S. and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S. than your other market is required to be the U.S. Compare your product/service to at least one other competitor. This can be a product/service that is used by a team member in their individual assignment. The competitor does not need to be in both markets, you can have two different competitors, one for each market. Include the following:
- Brief SWOT (emphasizes internal market--Strengths, Weakness, Opportunities, Threats) and/or TOWS (emphasizes the external Market-Threats, Opportunities, Weakness, Strength).
- A graph or chart if the team deems it necessary. Include two of the following:
- Definition of product or service.
- Description of product or service--marketing message.
- Why the product or service needs to be introduced or refreshed (target audience).
- Address competition in each region and how the new product or refresh provides a competitive advantage.
- Evaluate the potential growth rate. Look for information on similar products/services to determine a 3-year growth rate (Compound Annual Growth Rate-CAGR). Information may be located in the University Library. Note: Charts/graphs/tables do not count toward the word count.
Cite a minimum of three peer-reviewed references. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.
MKT 571 Week 3 Individual Assignment Promotion and the Product Life Cycle
Instructions: Purpose of Assignment All products/services go through a life cycle of NPI (new product introduction), growth, maturity and decline. These various stages affect the marketing strategy and promotional efforts. In Week 3, you will incorporate a product strategy that addresses at least 3 areas of the product life cycle. The primary objective of this assignment is to allow the student to demonstrate an understanding of the factors that can affect the launch of a product or service. A secondary objective is to understand the differences in a product launch in the U.S. (domestic market) and an international market. Assignment Steps Generate a minimum 700-word product strategy in Microsoft® Word. Incorporate a product strategy that addresses the following:
- At least three areas of the product life cycle (NPI-new product introduction, growth, maturity and decline).
- How you will measure (what metrics will be used to determine success or failure) the marketing activities.
- Create at least two different types of media methods for the products. One media method must be a print method and one must be non-print. A media method is a media strategy which highlights your product. For example, (this cannot be used in this assignment), a non-print media method would be a Facebook campaign that provides a user a reward for each review, positive or negative, posted about the use/appearance/price/etc. of the product. In your assignment, you should have 2-3 sentences about each media method (i.e. one paragraph of what you would do, not how to do it).
- Address three elements of the Product and Promotion List (see below).
- Product and Promotion List:
- Integrated Marketing Communication
- Advertising Strategy/Objectives
- Push and Pull
- Media Strategy
- Advertising Execution
- Direct Marketing
- Public Relations/Strategies
- Positioning The plan will be a continuation of your global or multi-regional company you chose in Week 1. This will be incorporated into your overall marketing plan for Week 6. Note: Charts/graphs/tables do not count toward the word count. Cite a minimum of three peer-reviewed references. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.
MKT 571 Week 4 Individual Assignment Price and Channel Strategy
Instructions: Purpose of Assignment This assignment is designed to help students analyze and understand how price setting and go to market (distribution) are interrelated and affects the profitability and growth of the business. It has been designed to be a short overview on purpose: the concepts of pricing and distribution are complex and a general understanding is what should be absorbed in one week of study. Assignment Steps Construct a minimum 700-word plan for setting price and a distribution model (place/distribution) in Microsoft® Word. This plan should address at least three elements (from the Price and Place/Distribution list below) of the Price and Place/Distribution section of the marketing plan. • Price and Place/Distribution:
- Distribution Strategies
- Channels, Mass, Selective, Exclusive
- Positioning within channels
- Dynamic/Static Pricing Strategies
- Channel tactics (Pricing)
- Daily pricing, promotion pricing, List pricing Note: Charts/graphs/tables do not count toward the word count. The plan will be a continuation of your global or multi-regional business you chose in Week 1. This will be incorporated into your overall marketing plan for Week 6. Cite a minimum of three peer-reviewed references. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.
MKT 571 Week 5 Individual Assignment Media Options
Instructions: Purpose of Assignment The purpose of this assignment is to creatively illustrate traditional and new media options. An understanding of the target audience and effective communication for each is a desired outcome. It provides the Learning Team the opportunity to creatively illustrate traditional and new media options. An understanding of the target audience and effective communication for each is a desired outcome. Assignment Steps as a Learning Team choose a brand (different from the Week 3 Learning Team Assignment) and a related brand strategy. Create a Microsoft® PowerPoint® presentation, Prezi, or Vimeo video, etc. which illustrates one traditional media option (print, TV, radio, billboard, etc.) and one new (social media) media option for your brand and brand strategy. The presentation should be a minimum of 7-10 slides or, if Prezi or Vimeo video, an 8-minute minimum. Note: Prezi presentations cannot be uploaded to the classroom. Please provide your instructor with the link to the presentation on the web. Prezi will provide you with a URL link to the presentation. Discuss in a minimum 700 words the differences between the traditional media option and the new media option in terms of audience, reach, channel and content. A table of differences may be used to concisely illustrate the differences but you must include a discussion of insights/concerns/issues between the media options. Note: Charts/graphs/tables in your Microsoft® Word write-up do not count towards the word count. Cite a minimum of three peer-reviewed references. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.
MKT 571 Week 5 Individual Assignment Marketing Communication and Brand Strategy
Instructions: Purpose of Assignment This assignment is designed to help students understand the interrelationships between brand strategy and the communication message to the target audience. It is a continuation of the marketing plan and students should review the Week 3 Learning Team Assignment for assistance in product brand strategies the team has developed. Assignment Steps Develop a minimum 700-word branding strategy and marketing communication plan in Microsoft® Word. This document should address at least 5 elements of the Situational Analysis and the Product, Place/Distribution, Promotion, and Price Strategies (modified below) sections of the marketing plan (from the Situational Analysis and the Product, Place/Distribution, Promotion, and Price Strategies lists below). The five elements you select should only come from the options provided below. You must include a measurement of customer loyalty and retention in your strategy document. You may include more than the minimum to provide clarity and coherence to your document.
- Situational Analysis:
- Vision, Mission, Strategic objectives, Values
- Competitor's Strengths/Weaknesses
- Market Segments
- Product, Place/Distribution, Promotion, and Price Strategies:
- Creating a Brand Image
- Maintaining Brand Image
- Branding Concerns
- Promotion/Integrated Marketing Communication
- Advertising Strategy/Objectives
- Push and Pull
- Media Strategy
- Advertising Execution
- Public Relations/Strategies Note: Charts/graphs/tables do not count toward the word count. The plan will be a continuation of your global or multi-regional business you chose in Week 1. This will be incorporated into your overall marketing plan for Week 6. Cite a minimum of three peer-reviewed references. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.
MKT 571 Week 6 Individual Assignment Social, Ethical, and Legal Implications
Instructions: Purpose of Assignment The purpose of this assignment is to help students think through the importance of social, legal, and ethical issues that may arise with their product or service and the implications of decisions made within those frameworks. It is designed to help the learners understand ethical and legal issues related to marketing practices. This knowledge helps to prevent such issues when developing the marketing strategies in their marketing plan. The executive overview of the marketing plan is not a summary and conclusion, but an overview of what the plan entails and what it does not address. Assignment Steps Note: the Social, Ethical, and Legal Implications assignment is part of the total marketing plan as outlined in the grading guide. It is not a separate paper. Producing and marketing a product without regard to ethical, legal, and social considerations is detrimental to the overall success of any company. Assess in a maximum of 700 words the ethical, legal, and social issues affecting your product or service in two markets: the United States and one international market. Domestic market generally means the market where the company headquarters are located. If you choose a domestic market that is not the U.S., then your other market is required to be the U.S. marketplace. This will be added to the Target Market section of your Marketing Plan. Include the following:
- Develop a process to monitor and control marketing performance. This process could be a flowchart but a flowchart is not required (flowcharts do not count towards your word count requirement). Formulate a maximum 350-word executive summary including at a minimum the following elements to include in your marketing plan:
- Required executive summary elements:
- Strategic Objectives
- Products or Services
- Optional executive summary elements:
- Resources Needed
- Projected Outcomes Integrate the previous weeks' sections, social, ethical, and legal implications, and executive summary into the marketing plan. Incorporate corrections and suggestions from the instructor's weekly feedback. The marketing plan should be a minimum of 3,850 words and include the following:
- Incorporate Understanding Target Markets (Week 2)
- Incorporate Promotion and the Product Life Cycle (Week 3)
- Incorporate Price and Channel Strategy (Week 4)
- Incorporate Marketing Communication and Brand Strategy (Week 5)
- Incorporate Executive Summary, Legal, Social and Ethical Considerations (Week 6) Cite a minimum of three peer-reviewed references. Include all peer-reviewed references from the previous weeks' individual assignments in your marketing plan. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.
MKT 571 Week 6 Individual Assignment Final Exam
Instructions: Complete the Final Examination. You are allowed one attempt to complete the examination, which is timed and must be completed in 3 hours. Results are automatically graded and sent to your instructor. Note: The automated final exam was designed in Google Chrome and is best viewed in the latest version of the browser. If you do not use the latest version of Google Chrome to view and complete the automated final exam, you may not be able to view the entire exam content. If you do not have the most current version of Google Chrome, download the browser before you enter the exam. Final Exam Study Guide If you're taking the Final Exam, you probably have some questions, such as:
- What is the structure of the Final Exam?
- What kinds of questions will I see? Can I see some examples?
- Why is the Final Exam designed this way?
- How should I study for the Final Exam? This document will answer these questions and help get you ready for the exam. Best wishes! What's the structure of the Final Exam? The exam questions are based on course objectives and concepts from throughout the course. There are 30 multiple-choice questions for each exam. The exam is timed and must be completed in 3 hours. Students are given one attempt to complete each exam. Results are auto-graded and sent to the instructor. Note: The final exam is best viewed via the Google Chrome web browser. Please download the latest version of Google Chrome if you do not have access. What kinds of questions will I see? Can I see some examples? The Final Exam will have a mix of the following types of questions:
- Applications: Knowing definitions is important, but you also need to be able to apply those definitions in practice. On your exam, you'll need to apply definitions from individual courses, and you'll also see questions combining concepts from different courses. These different kinds of application questions can ask you to:
- Connect a concept to an example of that concept. These questions might ask you to recognize an externality in a transaction, identify a marketing strategy given a description of activities, or spot an example of a management technique in action.
- Evaluate a situation and draw conclusions. These questions ask you to analyze a situation and make an appropriate recommendation. For example, you might be asked what would make communications more effective, what is required for a contract to be enforced, or to identify what would likely happen according to a particular theory.
- Perform calculations and apply techniques: You could be asked to perform operations related to finance or accounting, determine what would happen to an equilibrium point if something in the world changes, or predict changes in exchange rates.
- Critical Thinking Questions: On your Final Exam, you'll see questions testing your critical thinking skills, which means that you'll have to draw sound, logical conclusions while applying the techniques you've learned. You might be asked to identify an assumption, analyze an argument to determine what would make it stronger or weaker, or spot a flaw in an argument. These questions are often quite difficult, so get started by checking out the examples below. Sample Questions:
Note: These are general examples that may not necessarily reflect the content of your specific course, but rather will give you an idea of how the questions on your exam will be structured. 1. Rahul is a manager in the Marketing Department of Acadia Bear Hospitality, a mid-size chain of hotels primarily appealing to vacationers who are interested in nature. Rahul's goals for next year include the following: increasing revenue from guided tours by 20%, increasing the number of customers who visit Acadia Bear's Web site by 25%, and turning Acadia Bear customers into ambassadors for the Acadia Bear brand.
Individual Aug 13, 2018 11:59 PM 10
Which of the following changes would most improve the list of yearly goals specified above?
- doubling the proposed percentage increases in revenue from guided tours and Web site visitors
- clarifying what is meant by an "ambassador for the Acadia Bear brand"
- including proposals for changing Acadia Bear's core mission
- specifying the decisions that Rahul should make each week in order to meet these goals Answer:
(B) Explanation: For goals to motivate employees, they must be clear. While many organizations want to turn their customers into "brand ambassadors," this goal should be more specific in order for Rahul to understand what success with respect to that goal would look like.
(B) Is therefore correct, as it would provide Rahul with the clear understanding he would require.
(A) Could be a good idea, but might not be realistic. Goals are not always improved by making them more demanding, so it is not clear that
(A) would be an improvement. Asking Rahul to change the organization's core mission would be outside the scope of his responsibilities and so would not be a clear improvement to this list of goals. The list of weekly actions in (D) would probably make things worse by micromanaging Rahul. Yearly goals should not be that specific. 2. What real-world decisions would people be more likely to make if they are risk averse when considering potential losses?
- paying more for an extended warranty than the expected value of the cost of the repairs covered by the warranty
- considering the entertainment value of the gambling experience itself when deciding whether to wager in a casino
- performing home repairs oneself instead of hiring a professional
- preferring to participate in a lottery with a small chance of winning a large prize instead of receiving a small gift certificate Answer:
(A) Explanation: If people fear losses in a way that strict calculations would not predict, then they would be willing to pay more to insure against those risks than the expected value of taking that risk would suggest. In (A), people pay high amounts to insure themselves against a risk that, on average, would be less costly than the warranty. So
(A) is correct. (
- B) Makes people sound more inclined to risk losses, which doesn't fit here.
(C) Is also at least arguably on the side of taking risks, given that regular individuals tend to know less about home repair than professionals do.
(D) Suggests that people prefer risks when it comes to gains, but this question is about losses.
- A research team is measuring the willingness of consumers to pay for a bundle of premium television channels. The lowest any of the participants would be willing to pay per month was $50, and the highest amount was $200. Based on this evidence, the team concludes that the median amount that the consumers studied would be willing to pay would be $125. The conclusion reached by the researchers is flawed because it.
- fails to demonstrate that all potential consumers have the same willingness to pay as the individuals who were studied 2. provides insufficient evidence to show that any one of the consumers studied would be willing to pay exactly $125
- fails to demonstrate that the mean amount that the consumers would be willing to pay is also $125 4. does not compare the number of consumers who would be willing to pay more than $125 with the number of consumers who would not be willing to pay $125 Answer:
(D) Explanation: The researchers have evidence on the range of prices that the consumers would be willing to pay, but that does not mean that the median is the average of the highest and lowest figures. The median is the middle value, and for all we know, the other consumers could be willing to pay much less than $125, or much more.
(D) Described this flaw and is correct.
(A) is incorrect because the conclusion concerns the consumers who were studied. The researchers aren't claiming that this data represents all potential consumers.
(B) is incorrect because $125 could be the median even if no individual would be willing to pay exactly
$125. The median of an even number of items is the average of the middle two items.
(C) Is wrong because the median and the mean are different measures that do not have to be the same. Questions 5-6 A Web site offers free resources to visitors who have medical questions. The site provides lists of symptoms and possible treatments for various conditions but makes no specific recommendations. The owners of the Web site claim that since the information in the site is medically accurate, use of the site will only improve the health outcomes of the people who use it. 5. The owners' claim depends on which of the following assumptions?
- Most of the visitors to the site have received inaccurate health advice from medical doctors.
- The site contains advice on mental health issues as well.
- The visitors to the site are capable of interpreting the information on the site accurately.
- No single resource can be expected to keep up to date with all of the latest medical research. Answer: (C) Explanation: The advice on the site is accurate, but can it do harm? One open question is whether the visitors are capable of understanding the information they receive. If (C) is not true, and they cannot interpret the information on the site accurately, then they may well do harm to themselves or others as a result of this misunderstanding. (C), therefore, must be assumed. (A) Suggests that traditional sources of advice are not perfect, but that does not suggest anything about whether any harm can come from this site. (B) Need not be assumed because the issue here is the harm that can come from the medical advice present. Nothing about other kinds of advice need be assumed. (D) Could only weaken the argument by suggesting that the advice may not be up to date. 6. Which of the following, if true, would weaken the owners' claim?
- When they have a medical issue, users of the site tend to rely on the site instead of seeing medical professionals.
- The site's revenue is closely linked to the number of unique visitors who come to the site each month.
- The site owners have plans to expand the range of medical conditions addressed on the site based on suggestions from the site visitors themselves.
- For years, the cost of medical care has increased at a higher rate than the rate of inflation. Answer: (A) Explanation: If the information is accurate, could the site still cause harm? Simply receiving accurate information doesn't seem likely to cause harm, but if (A) is true, using the site could lead people to rely on the site instead of consulting with professionals. If the site becomes a substitute for proven forms of medical care, then it could cause considerable harm. (A) Is therefore correct. (B) is incorrect because there is no clear link between this form of revenue generation and harm. If anything, the site owners would have an incentive to maintain quality in order to get people to keep coming back. (C) Is wrong because taking suggestions from visitors on the topics the site should cover should not be a problem. The customers know what their issues are, so why not ask them? (C) Would be a problem if the advice were based on customer suggestions, but that's not what (C) says. (D) is irrelevant because it tells us nothing about this site or what happens to the people who use it. Academic Integrity The exams for this course are individual, at home, open book exercises. Although you have and can continue to discuss concepts with others prior to taking the exams, the exams must represent your own learning and information utilization competency. Collaboration in completing the exams or sharing of questions and answers with other students or on the Internet will be treated as serious violations of the Student Code of Conduct and reported to the University as a violation of the Student Code of Conduct. By completing the exams, you certify that the results represent your individual effort and that you will adhere to the Student Code of Academic Integrity. Why is the Final Exam designed this way?
The Final Exam brings together key concepts, skills, and knowledge from the entire course, because that's what you'll need to do in the real world to help organizations reach their goals. While we often study skills one at a time, we use them in combinations. In addition, while understanding concepts and techniques will always help and is often necessary, you'll also need critical thinking skills to maximize your impact in your career. There is widespread agreement that critical thinking is one of the essential skills required for post-graduation success. Critical thinkers can help organizations avoid disaster, but they can also spot opportunities that other people miss and find alternative solutions when others see only one way. That's why your Final Exam has questions asking you to critically evaluate claims and analyze the connection between evidence and conclusion. How should I study for the Final Exam? Start by reviewing the core concepts from each week of the course. Without that background, you'll have trouble with the applications. Don't just memorize terms and formulas. Imagine how you would use those concepts to make better decisions. Use the sample questions above to get a better sense of what the Final Exam will be like. Get used to critically evaluating claims, spotting assumptions, and weighing evidence. This will help you do better on the exam, and those skills will stay with you for your entire career. A bonus: Preparing for the exams will allow you to take inventory of the knowledge and tools you've acquired throughout the course, so you can more readily apply what you've learned for professional success.
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