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College of Business, Hospitality and Tourism Studies SCHOOL OF MANAGEMENT INDUSTRIAL RELATIONS & OHS DEPARTMENT OF MANAGEMENT, INDUSTRIAL RELATION AND OHS MKT501 – INTRODUCTION TO MARKETING FINAL EXAMINATION: TRIMESTER 1, 2016 QUESTION PAPER This examination constitutes 50% of total assessment of this unit and students must score 40/100 in this examination in order to pass this unit. INSTRUCTIONS 1. Time Allowed: 3 hours with additional 10 minutes reading time. 2. All answers are to be written in the Answer Booklet provided. 3. Write your ID Number on All the pages in your Answer and any extra sheets that you use. 4. This is a closed book examination. You are not permitted to access any books, notes or other forms of written or electronic materials. 5. Attach the extra sheets securely at appropriate place before handing-in the Answer Booklet to the supervisor. SECTIONS QUESTIONS MARKS Section A: Multiple Choice Questions 20 Questions. Attempt All. 20 Section B: Short Answer Questions Section C: Essay 8 Questions. Attempt All. 2 Essay Questions. Attempt only One [1] 40 20 Section D: Case Study Attempt all questions 20 TOTAL/WEIGHT MKT501 100/50% Trimester 1/ 2016 Page 1 Turn Over SECTION A MULTIPLE CHOICE QUESTION [20 MARKS] You are required to answer ALL multiple choice questions on the answer booklet provided. Each question is worth 1 mark. 1. Marketing Information System consists of people and procedures for; A. B. C. D. Assessing the information needs Developing needed information Helping decision makers use the information for customers All of the above 2. The needs that are shaped by culture and individual personality is known as; A. B. C. D. Needs Wants Demands Desire 3. ___________________ is the act of obtaining a desired object from something by offering something in return A. B. C. D. Marketing offerings Marketing myopia Marketing Exchange Marketing demands 4. The idea that consumers will not buy enough of the firm’s products unless it undertakes a large scale selling and promotion effort. This marketing management orientation is known as: A. B. C. D. Production Concept Selling Concept Product Concept Marketing concept 5. A significant market force where customers themselves are playing a bigger role in shaping their own brand experience and those of others is known as; A. B. C. D. MKT501 Customer Relationship Management [CRM] Customer Loyalty and Retention Customer management relationship Consumer Generated marketing Trimester 1/ 2016 Page 2 Turn Over 6. ___________________ is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities. A. B. C. D. Objectives Strategy Mission Strategic Planning 7. The collection of businesses and products that make up the company is known as; A. B. C. D. Business portfolio Portfolio analysis SWOT analysis Strategic Analysis 8. Figure 1; Company strategic planning The sign that shows low share businesses and products that may generate enough cash to maintain themselves but do not promise to be large sources of cash is known as; A. B. C. D. MKT501 Stars Cash cow Questions Mark Dogs Trimester 1/ 2016 Page 3 Turn Over 9. Product/market expansion grid is a tool for identifying company growth opportunities through market penetration, market development, product development, or diversification. Which of the following is referring to Market development? A. is a growth strategy increasing sales to current market segments without changing the product B. is a growth strategy that identifies and develops new market segments for current products C. is a growth strategy that offers new or modified products to existing market segments D. is a growth strategy through starting up or acquiring businesses outside the company’s current products and markets 10. The division of market into distinct groups of buyers who have different needs, characteristics, or behaviour and who might require separate products or marketing mixes is known as; A. B. C. D. Market segmentation Market Segment Market Targeting Marketing positioning 11. The environment that consists of actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with customers is known as; A. B. C. D. Marketing environment Micro environment Macro environment Strategic environment 12. Marketing Intermediaries help the company to promote, sell, and distribute its products to final buyers. The firm that help company’s stock and move goods from point of origin to their destinations is known as; A. B. C. D. MKT501 Resellers Physical distribution firms Financial intermediaries Marketing services agencies Trimester 1/ 2016 Page 4 Turn Over 13. ______________________ describe things such as the market potential for a product or the demographic and attitude of consumers who buy the product is known as; A. B. C. D. Exploratory research Descriptive research Casual research Market research 14. ______________________ consist of buyers in other countries including consumers, producers, resellers and government is known as; A. B. C. D. International markets Consumer markets Business markets Government markets 15. ________________ consist of factors that affects consumer purchasing power and spending pattern is known as; A. B. C. D. Cultural environment Natural environment Economic environment Social environment 16. Customer insights group collect customer and market information from a wide variety of sources. Which one of the following is TRUE about customer Insights; A. B. C. D. Fresh and deep insights into customers’ needs and wants Sometimes difficult to obtain Better information and more effective use of existing information All of the above 17. In developing marketing information, one of the source of this information is through Marketing Research. Which one of the following best describe this source; A. are electronic collections of consumer and market information obtained from data sources within the company network B. The systematic collection and analysis of publicly available information about consumers, competitors and developments in the Marketplace. C. is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization D. electronic data bases for consumers MKT501 Trimester 1/ 2016 Page 5 Turn Over 18. ___________________ is a set of company with different products or brands who are responsible for developing strategies and plans for specific products and brands; A. B. C. D. Functional organization Product management organization Market management organization Geographic organization 19. A written research plan will be carried out according to this order; A. Research Objectives > Management problem >Information needed> Interpret result for managerial decision making> Budget B. Management problem> Budget. >Research Objectives>Information needed> Interpret result for managerial decision making C. Management problem> Information needed > Research Objectives > Interpret result for managerial decision making> Budget D. Management problem>Research Objectives>Information needed> Interpret result for managerial decision making> Budget 20. ____________involves gathering primary data by observing relevant people, actions, and situations. A. B. C. D. Observational research Ethnographic research Survey research Secondary research SECTION B SHORT ANSWER QUESTIONS [40 MARKS] There are EIGHT (8) questions in this section. You are required to answer ALL questions from this Section in the Answer Booklet provided. Question 1 Consumer buying behavior is the buying behavior of the final consumers, individuals and households who buy goods and services for personal consumption. Name and describe the types of consumer buying behavior. Which one would most likely be involved in the purchase of Carpet? [5marks] MKT501 Trimester 1/ 2016 Page 6 Turn Over Question 2 The actual purchase decision is part of a much larger buying process—starting with need recognition through how you feel after making the purchase. Name and briefly describe the five [5] steps in the Buyer Decision Making Process. [5 marks] Question 3 Adoption process is the mental process an individual goes through from first learning about an innovation to final regular use. List and discuss the Five [5] stages in the adoption process. [5 marks] Question 4 Price is the sum of all the value that consumers give up in order to gain the benefits of having or using a product and service. Name and describe the Five [5] product mix pricing decision. [5 marks] Question 5 Pricing decisions made hastily without sufficient research, analysis, and strategic evaluation can lead to the marketing organization losing revenue. Name and briefly describe Five [5] Price adjustment strategies such as Segmented pricing, Promotional pricing, Geographic pricing, Dynamic pricing, International pricing. [5 marks] Question 6 Prices set too high can also impact revenue as it prevents interested customers from purchasing the product. A company can or might take effective action to response to price changes. Name and discuss Four [4] actions company can take in responding to the price changes. [5 marks] Question 7 A product is the item offered for sale. A product can be a service or an item. It can be physical or in virtual or cyber form. Briefly describe the Five [5] Product – Life cycle Strategies. Explain why products enter the decline stage of product life cycle and discuss option for marketers at this stage. [5 marks] MKT501 Trimester 1/ 2016 Page 7 Turn Over Question 8 Sustainable marketing is meeting needs of consumers while preserving the ability of future generations to meet their needs. Describe the five sustainable marketing principles and explain how companies benefit from adhering to them. [5 marks] SECTION C ESSAY [20 MARKS] There are TWO [2] question in this section. You are required to do only ONE [1] Essay question on the Answer Booklet provided. 1. Mass marketing include all possible customer in a market regardless of the difference in their specific needs and wants. Companies vary in their ability to serve all customers in the market and therefore cannot serve all customers in the marketplace. For that Reason Company needs to design a customer-driven marketing strategy to build right relationship with right customers. a. Name and discuss with examples Four [4] major steps in designing a customerdriven marketing strategy. [8 marks] b. Describe Four [4] major set of variable that might be used in segmenting consumer markets and Discuss Five [5] requirements for effective segmentation. [12 marks] OR Product is anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want and Service is a product that consists of activities, benefits or satisfaction that is essentially intangible and does not result in the ownership of anything a) Name and describe three level of products and discuss the Four [4] classification of products and service with examples. [12 marks] b) Describe the Four [4] characteristics of service that marketers must consider when designing marketing program. Explain using the service offered by a message therapist and discuss the characteristics. [8 marks] MKT501 Trimester 1/ 2016 Page 8 Turn Over SECTION D CASE STUDY [20 MARKS] There are FOUR [4] questions in this section. You are required to attempt ALL the questions. FAILURE OF AUTO SPARES SERVICES Auto Spares is a car servicing business which has entered the market recently. There is a growing trend towards a promotion of new services involving tune-ups and preventive maintenance such as brake and muffler checkups. Auto Spares Services has bundled its offer into a total package for S100. Frequently, these check-ups provide the opportunity for muffler replacement and new brake pads even though these parts are not fully worn out. Consumers are unable to make their own assessment of the wear and tear of the car parts and rely on repair shops to advice and recommend action. Auto Spares Services has used various promotional tools to create awareness about their offer. Flyers and billboards proved quite effective in exposing and grasping consumers' attention. Initially, Auto Spares Services managed to extend its customer base but as competition became stiff it began to lose its valuable customers. The efforts to retain existing customers failed. This raised a question for the business - What went wrong? [www.businescasestudy.com] QUESTIONS You are required to answer ALL questions given below on the Answer Booklet provided. 1. Identify any three marketing mix elements mentioned in the case study. [6 Marks] 2. State three [3] reasons why Auto Spares Services lost its valuable customers. [3 Marks] 3. What strategies could Auto Spares Services use to ensure that they retain existing customers and attract potential ones? [5 Marks] 4. Carry out a SWOT analysis for the above case study. [6 Marks] THE END MKT501 Trimester 1/ 2016 Page 9