MRK

FINAL TERM EXAM (WINTER 2021)

Marketing (MRK202)

Total: 100 Marks

Exam Value = 30%

First Name: ___________________ Last Name____________________ ID:_____________

Part I. Select the Correct Answer (25%). (Each Question = 1 Marks)

1. Which of the following is an example of product research?

	a.	packaging research.
	b.	competitive product studies.
	c.	new product acceptance and potential.
	d.	all of the above.

2. The definition of marketing includes all but one of the following:

	a.	the need to earn a profit.
	b.	the process of determining customer wants and needs.
	c.	profitably providing customers goods and services that meet their needs.
	d.	an exchange between the organization and a customer.

3. The marketing concept includes which of the following:

	a.	customer orientation.
	b.	training in customer service.
	c.	profit orientation.
	d.	all of the above.

4. Which of the following elements is specifically related to a societal orientation?

	a.	earning a profit.
	b.	total quality management.
	c.	concern for ethical behaviour.
	d.	defining clear objectives.

5. Which of the following is a step in the marketing process?

	a.	finding a need.
	b.	conducting research.
	c.	setting a price and do market testing.
	d.	all of the above.

6. The first step in the marketing process is:

	a.	find a need.
	b.	test marketing.
	c.	conduct research.
	d.	build a relationship with customers.

7. The marketing mix includes the following factors:

	a.	production, price, promotion and product.
	b.	public relations, place, promotion and price.
	c.	product, price, place and promotion.
	d.	price, promotion, place, distribution.

8. Which of the following is an example of corporate responsibility research?

	a.	pricing studies.
	b.	studies and business trends.
	c.	media research.
	d.	consumers' "right to know" studies

9. Which of the following is the first step in the market research process:

	a.	choosing the best ethical solution.
	b.	collecting data.
	c.	analyzing the data.
	d.	none of the above.

10. Which of the following is not a source of primary data?

	a.	observation.
	b.	surveys.
	c.	business journals.
	d.	focus groups.

11. Sociocultural influences include all but which of the following?

	a.	perception.
	b.	reference groups.
	c.	family.
	d.	social class.

12. Organizations in a _______________ mobilize their resources toward selling, advertising and other promotional efforts.

	a.	sales orientation
	b.	marketing orientation
	c.	product orientation
	d.	production orientation

13. The purchase of a desk by an individual for his business is an example of an item being sold in the:

	a.	customer market.
	b.	industrial market.
	c.	service market.
	d.	none of the above.

14. Which of the following is an example of geographic segmentation?

	a.	divide the market by region.
	b.	divide the market by age.
	c.	divide the market by income.
	d.	divide the market by sex.

15. _____________ is the process of finding small but profitable market segments and designing custom made products for them.

	a.	niche marketing
	b.	one to one marketing
	c.	industrial marketing
	d.	relationship marketing

16. The car company developed a concept statement, "An inexpensive subcompact ¨green' car appealing to environmentally conscious people who want practical transportation and low pollution." This concept statement would be used

a) to develop concepts b) for concept testing c) to prepare for idea screening d) to help generate new ideas e) to brainstorm on new products

17. As a product manager on a product in the mature stages of the product life cycle, what should you specifically do to best market your product?

a) defend against competitive marketing tactics b) prepare to discontinue the product c) modify the product, market and the marketing mix d) increase sampling programs e) none of the above

18. How does a company estimate sales?

a) it examines past sales history of similar products b) it conducts market research to survey consumers c) it discusses manufacturing capacity with the plant manager d) a and b e) a, b and c

19. The strategy used during maturity to attempt to increase the consumption of the current product is called

a) customer modification b) market modification c) product modification d) marketing mix modification e) strategic renovation

20. Setting prices as low as possible typically supports which of the following marketing objectives?

a) survival b) current profit maximization c) market-share leadership d) product-quality leadership e) sales revenue maximization

21. Which, if any, of the following are reasons producers use intermediaries?

a) because of their greater efficiency in making goods available to target markets b) because of their contacts and experience with retailers c) because of their specialization in delivering goods as needed d) a and b e) a, b and c

22. Compaq Computer Corporation determined at what price they had to sell a computer for it to appeal to its target market. It then designed a computer with the cost structure to meet the targeted price. This is called

a) a non-price position b) partial cost recovery c) social price d) target costing e) a break-even analysis

23. The assistant category manager was told to use cost-plus pricing to evaluate the profit potential of new products. This involves

a) setting prices to reach a specific rate of return b) adding a standard markup to the cost of the product c) pricing products with the buyer's sense of value in mind d) basing the prices on what the competition charges e) calculating a break-even analysis

24. When automobile manufacturers offer options in specially priced deals, they are practicing a form of

a) product-line pricing b) product-bundle pricing c) captive-product pricing d) by-product pricing e) seasonal discounts

25. Before setting his prices, Zach conducted a market research study to learn what consumers would pay. Zach appears to be using which type of pricing method?

a) cost-plus b) target profit c) value-based d) going-rate e) a tender

Part II. 10 Definations in the Marketing Theory (20% MARKS) (Each 2 marks)

1) B2B Marketing ________________________________________________________________

2) Content Marketing _____________________________________________________________________

3) Pricing Strategy

______________________________________________________________________________

4) Grey Market

______________________________________________________________________________

5) The adoption Curve

____________________________________________________________________

6) Segmentation

______________________________________________________________________________

7) Positioning

_____________________________________________________________________________8

8) Targeting _________________________________________________________________

9) Marketing Channel ____________________________________________________________________________

10) Supply Chain ___________________________________________________________________________

Part III. Qustions (35%) Each Question = 5 Marks

Q-1 Explain the impact of external influences on marketing mix strategies and their impact on strategic marketing plans?

__________________________________________________________________________

Q-2 How important are pricing decisions to the success of a brand (or company)?

___________________________________________________________________________

Q-3 What is Niche Marketing? Pls give an example.

______________________________________________________________________________

Q-4. Outline the steps involved in segmenting a market.

.

______________________________________________________________________

Q-5. Explain what is meant by a marketing channel and the value created by intermediaries.

.

______________________________________________________________________________

Q-6 Discuss supply chain and logistics management and how they relate to marketing strategy?

______________________________________________________________________________

Q-7 Describe the ways that product life cycles can be extended.

______________________________________________________________________________

Part IV. Discussion Questions(20%)

Q-1 (10 Marks)

(1）What is PLC? (3%)

(2) Explain the concept of the product life cycle and elements involved in each stage (Using a diagram or chart to help you to explain) (3%)

(3) Extend product life cycle is the most PLC strategy. How to extend PLC of products? Make an example of one product for each option.(4%)

Q-2 Practice Test: (10 Marks)

(1) What are the four general pricing approaches in our Marketing course (4 Marks)?

(2) Select an appropriate approach for each of the following products and explain why for each (6%).

1. Longgines watch

2. vechiel

3. house

4. Iphone

5. Legal fee/consultation service

6. cooked food