MAR001-1 Principles Of Marketing And Management

Question:

  • Demonstrate an acceptable level of understanding of key terms and concepts in marketing
  • Provide a competent analysis of a given predictable business situation and present an appropriate response in the form of a simple marketing mix plan

Section A – Multiple Choice Questions 

Select your answers on this booklet. Attach the booklet to your exam answer booklet at the end of the examination.

1.According to your first lecture, the term “The Marketing Concept” refers to
  1. Satisfying customer needs, precisely, in a dynamic environment
  2. Identifying customer needs, precisely, in a difficult environment
  3. Satisfying customer needs, profitably, in a dynamic environment
  4. Meeting customer needs, profitably, in a difficult environment
2.Charles Revson of Revlon observed: “In the factory, we make cosmetics; in the store, ________.”

  1. we make profits
  2. we sell hope
  3. we sell quality
  4. we implement ads
3.According to the textbook, ________ is the ultimate user of a good or service.

  1. Stakeholder
  2. Target market
  3. Consumer
  4. Marketer
4.Which of the following is part of the product element of the marketing mix?

  1. Store coupon
  2. Newspaper advertisement
  3. Packaging
  4. Publicity releases
5.According to the textbook, targeting can take one of four approaches, undifferentiated, differentiated, concentrated and:

  1. Creative
  2. Diluted
  3. Cost leadership
  4. Customised
6.Any direct interface between customers and a company–whether it is online, in-person, or over the phone–is called a ________.

  1. Share of customer
  2. Customer target
  3. Touchpoint
  4. Data point
7.Which of the following is not part of the Consumer Buying Decision Process?

  1. Product specification
  2. Need recognition
  3. Information search
  4. Purchase decision
8.The ________ is the potential profit generated by a single customer’s purchase of a firm’s products over the customer’s lifetime.

  1. Lifetime value of a customer
  2. Segmentation of a customer
  3. Share of a customer
  4. Equity of a customer
9.Buy one get one free is an example of

  1. Sales promotion
  2. Advertising
  3. Public relations
  4. Personal selling

10.In one-to-one marketing, what is the next step after a marketer has identified customers and knows them in as much detail as possible?

  1. Interact with the customers and find ways to improve cost efficiency
  2. Differentiate among these customers in terms of both their needs and their value to the company
  3. Customize some aspects of the products or services offered to each customer
  4. Implement a mass customisation program

11.If the price of a product is raised a lot with relatively little fall in sales then demand for that product is price inelastic.

  1. True
  2. False

12.When using ________, a consumer exerts little effort in making a purchase decision.

  1. Habitual decision making
  2. Extended problem solving
  3. Independent heuristic rating
  4. Limited problem solving

13.According to your textbook, a person’s ________ consist(s) of sets of people that a consumer wants to please or imitate.

  1. culture
  2. subculture
  3. reference groups
  4. demographics

14.In marketing communications, a push campaign is where:

  1. Advertising to consumers encourages them to make a purchase
  2. A product is given an extra big push
  3. A press release is pushed out to journalists
  4. Retailers are given incentives to encourage consumers to buy

15.Holding a press conference is an example of

  1. Advertising
  2. Public relations
  3. Sales promotion
  4. Personal selling

16.A loss leader is:

  1. A product that is sold at a lower price in order to increase market share
  2. The product that has the highest costs
  3. A product that is sold at or below cost in order to sell additional products or services
  4. The product that makes you the biggest los

17.In the lecture on Segmentation four approaches to segmenting the marketplace were given. They were:

  1. Demographics, topography, habits & advantages
  2. Demographics, geography, sociocultural & features
  3. Demographics, geodemographics, lifestyle & benefits
  4. Demographics, physiography, sociocultural & technical

18.________ is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering.

  1. Failure avoidance rate
  2. Customer perceived value
  3. Perceived usefulness
  4. Report rating

19.The four key features of a service identified by Kotler are

  1. Congruity, intangibility, perishability, integrity
  2. Divergence, intangibility, durability, consonance
  3. Heterogeneity, intangibility, perishability, inseparability
  4. Similitude, intangibility, persistence, construction

20.A positioning statement is

  1. An internal accounting term that indicates products with growth potential
  2. A promise to the customer about what a product will do
  3. A statement that places the product against the competition
  4. Two products bundled together to offer the consumer greater value for money

Section B – Mini case

You have developed a cultural knowledge-focused Point & Know app for the Moscow tourist market. Tourists visiting Moscow can use their smartphone to point the app at famous landmarks and learn about the cultural significance of the landmark in the language of their choice.

Your task is to provide your detailed marketing mix plans for the app, justified though a clearly identified specific target market within the Moscow tourism market place. You should include a Gantt chart covering your marketing communications activities for one month prior to launch and four months postlaunch as part of your submission.

Notes:

  • The costs of developing the app can be considered to be sunk and therefore do not need to be accounted for.
  • You should not aim your app at every tourist.
  • You may wish to include other features within your app tailored to your chosen target market.
  • You need to choose whether you will make the app free, funded by advertising, or whether you will charge users.
  • You will need to choose an appropriate justified brand for your app.
  • You should consider all forms of competition, and the position that your app will take in the market place
  • See the information overleaf on how your case study response will be marked

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QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER

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