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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 3, 2015
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
Read the following instructions before writing;
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
6 Questions. Attempt All.
3 Essay Questions. Attempt only One [1]
48
16
Section D: Case Study
Attempt all questions
16
TOTAL/WEIGHT
MKT501: INTRODUCTION TO MARKETING
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SECTION A
MULTIPLE CHOICE QUESTION
[20 MARKS]
There are TWENTY questions in this section. ALL are compulsory. Write the question number on
your answer script and beside it place the letter that carries the best answer to the questions
listed below. Each question is worth 1 mark.
1. Marketing must both attract new customers and grow the current customers. Marketing
is defined as;
a) Creating a need for a product
b) Selling a product to a customer
c) Advertising and promotion of a product
d) Delivering customer value and satisfaction at a profit.
2. The wants that are backed by buying power is known as;
a) Needs
b) Wants
c) Demands
d) Desire
3. ___________________ is focusing only on existing wants and losing sight of underlying
consumer needs
a) Marketing offerings
b) Marketing myopia
c) Marketing Exchange
d) Marketing demands.
4. The idea that consumers will favor products that offers the most quality, performance,
and features. This marketing management orientation is known as
a) Production Concept
b) Selling Concept
c) Product Concept
d) Marketing concept
5. The overall process of building and maintaining profitable customer relationships by
delivering superior customer value and satisfaction is known as;
a) Customer Relationship Management [CRM]
b) Customer Loyalty and Retention
c) Customer management relationship
d) Consumer Generated marketing
6. ___________________ is the process of developing and maintaining a strategic fit
between the organization’s goals and capabilities and its changing marketing
opportunities.
a) Objectives
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b)
c)
d)
Strategy
Mission
Strategic Planning
7. The major activity in strategic planning whereby management evaluates the products
and businesses that make up the company is known as;
a) Business portfolio
b) Portfolio analysis
c) Swot analysis
d) Strategic Analysis
8. Figure 1; Company strategic planning
The sign that shows the low-growth, high-share businesses or products that are
established and successful SBUs requiring less investment to maintain market share is
known as;
a) Stars
b) Cash cow
c) Questions Mark
d) Dogs
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 Penetration?
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
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d) is a growth strategy through starting up or acquiring businesses outside the
company’s current products and markets
10. The process of arranging for a product to occupy a clear, distinctive, and desirable place
relative to competing products in the minds of the target consumer.
a) Market segmentation
b) Market Segment
c) Market Targeting
d) 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) Marketing environment
b) Micro environment
c) Macro environment
d) Strategic environment
12. Marketing Intermediaries help the company to promote, sell, and distribute its products
to final buyers. The insurance companies, and other businesses that help finance
transactions or insure against the risks associated with the buying and selling of goods is
known as;
a) Resellers
b) Physical distribution firms
c) Financial intermediaries
d) Marketing services agencies
13. One type of customer market is Business market. Which of the following best describe
this market;
a) individuals and households that buy goods and services for personal consumption.
b) buy goods and services to resell at a profit.
c) buy goods and services for further processing or for use in their production process.
d) composed of government agencies that buy goods and services to produce public
services.
14. The study of human populations-- size, density, location, age, gender, race, occupation,
and other statistics is known as;
a) Demography
b) Sociology
c) Political
d) Natural
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15. ________________ are persistent and are passed on from parents to children and are
reinforced by schools, churches, businesses, and government.
a) Cultural environment
b) Core beliefs and values
c) Secondary beliefs and values
d) People view of organization
16. Customer insights group collect customer and market information from a wide variety
of sources. Which one of the following is FALSE about customer Insights;
a) Fresh and deep insights into customers’ needs and wants
b) Sometimes difficult to obtain
c) Better information and more effective use of existing information
d) Very easy to obtain
17. In developing marketing information, one of the source of this information is through
Competitive Marketing Intelligence. 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
18. The research with the objective of gathering preliminary information that will help
define the problem and suggest hypothesis is known as;
a)
b)
c)
d)
Casual research
Descriptive research
Exploratory research
Informational research
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.
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d) Management problem>Research Objectives>Information needed> Interpret result
for managerial decision making> Budget.
20. ____________involves sending trained observers to watch and interact with consumers
in their natural environment.
a)
b)
c)
d)
Observational research
Ethnographic research
Survey research
Secondary research
SECTION B
SHORT ANSWER QUESTIONS
[48 MARKS]
You are required to answer ALL questions from this Section in the Answer Booklet provided.
Question 1
Consumer buyer behavior is the buying behavior of final consumers, individuals and
households, who buy goods and services for personal consumption. It is understood that many
factors or characteristics affect our buying behavior—from cultural, social, personal and
psychological influences.
a) Choose ONE of the factor or characteristics affecting consumer behavior and under
this factor, identify and briefly describe the sub factors that influence the buying
behavior.
[4 marks]
b) Briefly describe the three [3] major components of the Model of consumer behavior
namely the Environment, Buyer’s black box and Buyer’s response.
[4 marks]
Question 2
Buying behavior varies greatly for different types of products. For example, someone buying an
expensive new PC might undertake a full information gathering and brand evaluation process.
a) Name and briefly describe two [2] types of Buying decision behavior and give an
example of each.
[4 marks]
b) 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.
[4 marks]
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Question 3
Small companies usually center their product development efforts on meeting the customer's
needs. Thus, it stands to reason that a company's marketing strategies should also be
customer-driven. Customer-driven marketing strategies can apply to consumer or business
customers.
a) Briefly describe the four major steps in designing a customer-driven marketing
strategy?
[4 marks]
b) Name and describe the four major sets of variables that might be used in
segmenting consumer markets.
[4 marks]
Question 4
Marketing managers must understand the importance of segmenting a market and the specific
criteria for successful segmentation. Before the 1960's, most companies tried to market
products to the masses with declining success.
a) Identify and briefly explain two [2] requirements for effective segmentation.
[4 marks]
b) Identify and briefly explain three [3] factors that organizations should consider
when evaluating different market segments.
[4 marks]
Question 5
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. Every product is made at a cost and each is sold at a price. The price
that can be charged depends on the market, the quality, the marketing and the segment that is
targeted.
a) Name and briefly describe the three [3] levels of product.
[4 marks]
b) Briefly describe the four [4] product classification by consumer.
[4 marks]
Question 6
An organization with several product lines has a product mix. A product mix or product
assortment consists of all the product lines and items that a particular seller offers for sale.
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a) A company’s product mix has four important dimensions: width, length, depth,
and consistency. Briefly describe these four dimensions.
[4 marks]
b) A service is any activity or benefit that one party can offer to another that is
essentially intangible and does not result in the ownership of anything. Again we can
say that a service is a form of product that consists of activities, benefits, or
satisfactions offered for sale that are essentially intangible and do not result in the
ownership of anything. Briefly describe the four [4] nature or characteristics of
service.
[4 marks]
SECTION C
ESSAY
[16 MARKS]
You are required to do only ONE [1] Essay questions on the Answer Booklet provided. Each essay
is worth 16 marks.
1. In order to achieve a successful new product, and certainly the successful
implementation of a new product into a business, it is necessary for managers of
organizations to understand the basic idea of new-product development process,
therefore providing a clear roadmap for the development of new products.
Name and explain, with examples, the major steps in the new-product development
process.
OR
2. Pricing decisions made hastily without sufficient research, analysis, and strategic
evaluation can lead to the marketing organization losing revenue. Prices set too low may
mean the company is missing out on additional profits that could be earned if the target
market is willing to spend more to acquire the product. Prices set too high can also
impact revenue as it prevents interested customers from purchasing the product.
Name and briefly describe the various pricing decisions such as Discount or Allowance
Pricing, Segmented Pricing, Promotional Pricing, and Deceptive Pricing and give
examples of each.
OR
3. Sustainable marketing calls for socially and environmentally responsible actions that
meet the present needs of consumers and businesses while also preserving or
enhancing the ability of future generations to meet their needs. Describe the five
sustainable marketing principles and explain how companies benefit from adhering to
them.
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SECTION D
CASE STUDY
[16 MARKS]
There are four questions in this section.
ONLINE MARKETING POTENTIAL
SMALL-scale tourist accommodation outlets need to be on par with the latest marketing
strategies in order to promote their businesses to a wider audience. And one of the ways to do
this is through e-marketing. South Pacific Tourism Organization CEO Ilisoni Vuidreketi said local
and regional small tourist accommodation operators would be given an opportunity to train
with local IT support partners during the Train the Trainer — Local IT Support Partners
workshop at the Novotel Hotel in Nadi this week.
"Regional information technology partners will update their skills and knowledge at the
inaugural workshop. This workshop will complement the e-marketing support project for
accommodation providers, which was carried out under the Pacific regional tourism capacity
building program and funded by the 10th European Development Fund."
He said the fund benefitted more than 165 small medium enterprise hotel outlets in the region.
"This is by connecting them to the World Wide Web and allowing visitors to book online. The
workshop aims to build on this training and enhance the capacity of these designated local IT
support partners," he said.
[Source; Fiji Times 21/8/14]
Questions
You are required to answer ALL questions given below on the Answer Booklet provided.
1. Write down two [2] advantages of having online marketing.
[4 marks]
2. Write two [2] disadvantages of having online marketing.
[4 marks]
3. Do you think this method of online selling and buying is suitable for supermarkets in
Fiji? Give reason for your answer.
[4 marks]
4. Do you think small business in Fiji should start using online marketing in Fiji? Give
reason for your answer.
[4 marks]
THE END
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