ASSIGNMENT 1 ST SEMESTER : PRINCIPLES OF MARKETING (M1) MARKETING 1 (MAR101)

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1 Page 1 of 7 ASSIGNMENT 1 ST SEMESTER : PRINCIPLES OF MARKETING (M1) MARKETING 1 (MAR101) CHAPTERS COVERED : CHAPTERS 1-6 DUE DATE : 3:00 p.m. 19 MARCH 2013 TOTAL MARKS : 100 MATERIAL SUPPLIED : ANSWER SHEET INSTRUCTIONS TO CANDIDATES FOR COMPLETING AND SUBMITTING ASSIGNMENTS The complete Instructions to Students for Completing and Submitting Assignments must be collected from any IMM GSM office, the relevant Student Support Centre or can be downloaded from the IMM GSM website. It is essential that the complete instructions be studied prior to commencing your assignment. The following points highlight only a few important notes. 1. You are required to submit ONE assignment per subject. 2. The assignment will contribute 20% towards the final examination mark, and the other 80% will be contributed by the examination, however, the examination papers will count out of 100%. 3. Although your assignment will contribute towards your final examination mark, you do not have to earn credits for admission to the examinations; you are automatically accepted on registering for the exam. 4. Number all the pages of your assignment (e.g. page 1 of 4) and write your name and surname, student number and subject at the top of each page. 5. The IMM GSM requires assignments to be presented in a typed format, on plain A4 paper. Unless otherwise specified, this assignment must be completed within a limit of 1500 words, excluding the bibliography. Students who exceed the word limit may find that only part of the submitted assignment will be marked. 6. A separate assignment cover, which is provided by the IMM GSM, must be attached to the front of each assignment. 7. Retain a copy of each assignment before submitting, in case the original does not reach the IMM GSM. 8. The assignment due date refers to the day up to which assignments will be accepted for marking purposes. The deadline is 3:00 p.m. on 19 March Late assignments will be accepted, but 25 marks will be deducted from the maximum mark, if received after 3:00 p.m. on 19 March 2013 and up to 5:00 p.m. the following day, after which no assignments will be accepted. 9. If you fail to follow these instructions carefully, the IMM Graduate School of Marketing cannot accept responsibility for the return of the assignment. It may even result in your assignment not being marked. Results will be available on the IMM GSM website, on Friday, 3 May 2013.

2 Page 2 of 7 SPECIFIC INSTRUCTIONS: This is an open-book assignment and is set to test your understanding of the concepts and principles involved. You will be penalised for copying the work of fellow learners, or simply copying passages from the textbook, study notes or other texts. Be aware that doing this is plagiarism! It is only when you use your own words that the markers are able to establish whether you have understood the concepts outlined in the study notes. The markers are then in a better position to offer you constructive feedback. Students are reminded that this is an individual effort and group submissions will be penalised. Answer ALL the questions. Presentation marks are not awarded. Examiner s Advisory Note: This first year subject forms the very foundation for your future studies in a course with the specific outcome of preparing you to become a successful marketing practitioner. As you have probably discovered by now, marketing is the blending of the scientific disciplines with the artistic field of creativity. With this in mind, this assignment is based on your textbook theory, but is extended to incorporate marketing in the world we live in by asking you to refer your knowledge to marketing activities which are encountered in our everyday lives. This is so that you start, at this early stage, to find practical uses for the theory you are learning, so please give this aspect of the question paper the attention it deserves. Please note, also, that answers which are simply extracts from the textbook are NOT ACCEPTABLE as this does not contribute to YOUR understanding of the topics. Apart from the essay-type questions, the paper includes short-answer questions. These are especially selected to broaden the spectrum of topics examined. As the multiple choice questions WILL be included in your final exam, you are advised to pay serious attention to them. Furthermore, it is in your own interest to work through these questions without any outside assistance if you are to gain the optimum benefit. (In past assignments, some students have collaborated to gain maximum marks in these areas, only to be very disappointed when similar marks are not obtained in the critical final exam.) As a final tip, please remember that the multiple choice questions call for the MOST correct alternative. This is not necessarily the first possibly correct solution, so give each alternative careful consideration before making your decision.

3 Page 3 of 7 ANSWER ALL FIVE (5) QUESTIONS QUESTION 1 Multiple choice [20] Indicate your answers to each of the following questions on the answer sheet provided. Each answer is worth two (2) marks. For each question below select the MOST APPROPRIATE answer from the choices given. Mark your answers with an X in the correct block on the ANSWER SHEET on page In market research there are two basic types of data primary data and secondary data. Which one of the following describes good examples of external sources of primary data? A. Consumers, competitors, suppliers B. Trade magazines, government statistics, sales records C. Internet, trade associations, customers D. Customer complaints, retailers, consumers 1.2 Which of the growth strategies contained in Ansoff s Matrix seems to carry the most risk? A. Market penetration B. Market development C. Product development D. Diversification E. B and C above. 1.3 The product concept represents the product value package of the business, which encapsulates all the attributes being offered to consumers. Which if any of the following elements are most likely to be included in the product concept? A. Product image, customer service, branding, packaging B. Core product, augment product, product image, tangible product C. Tangible product, intangible product, product price, product image D. Core product, guarantees, sales service 1.4 Primary data refers to A. information that already exists. B. data found in government statistics. C. data collected through original research. D. data obtained exclusively through the Internet. E. data collected on an annual basis.

4 Page 4 of Rogers Innovation Adoption Model identifies various categories of consumers, according to their readiness to try new products or innovation. Which of the following best describes the typical early majority category? A. Adventurous, keen and eager to try something new. B. They do not like change, are conservative and suspicious of new things. C. They are sceptical and will only adopt the product when many others have tried it. D. They are cautious consumers preferring to adopt only after the product has proved successful. E. They are well educated and often opinion leaders in their communities. 1.6 Which of the following is typical of probability sampling methods? A. Complex random sampling B. Level one random sampling C. Stratified random sampling D. Quota sampling E. All of the above. 1.7 Durable products are A. products that are very expensive. B. the same as convenience products. C. also known as prestige products. D. products such as stoves and fridges. 1.8 Sampling falls under which category of the promotion/communication effort? A. Advertising B. Sales promotion C. Public relations D. Personal selling E. Direct marketing 1.9 LSM groups 1 to 3 would reflect which of the following characteristics? A. High income, driver of a motor car, having a home with telephone, TV, fridge, PC, higher education B. Middle income, urban, matric education, active/sporting C. Lower incomes, low level education, more rural and traditional lifestyle, basic facilities D. Upper incomes, expensive home and cars, jet-set lifestyle, holidays overseas E. Females, younger and better educated, full time employment

5 Page 5 of Marketing segmentation is generally considered to involve 4 levels. Which of the following represents the four levels of marketing segmentation? A. Macro-marketing; micro-marketing; selected marketing; progressive marketing B. Micro-marketing; segment marketing; niche marketing; mass-marketing C. Mass-marketing; macro-marketing; micro-marketing; segment marketing D. Segment marketing; macro-marketing; niche marketing; micro-marketing QUESTION 2 [20] 2.1 Write short notes using your own words to describe market segmentation and market targeting. (5) And SHOW how application of these concepts helps to make marketing more effective. (5) 2.2 In your own words explain your understanding of the marketing concept. (5) (NOT marketing ) (See 4.3 below) 2.3 Explain briefly what is meant by the term marketing mix. (5) QUESTION 3 [25] 3.1 Profit is the amount left once all costs and expenses have been deducted from all income. Show how some part of profit can be used a) to make the company more effective and competitive. (5) b) to improve the social well-being of communities (CSI/CSR). (5) 3.2 Surely customer centricity is the same as customer value? (8) Agree or disagree with this statement, giving your reasons and explain clearly what is meant by each of the terms used. 3.3 Write short notes to show your understanding of the meaning of the social responsibility of marketing. Use examples to illustrate. (7) (DO NOT confuse this with corporate social investment or corporate social responsibility) (See 3.1.b above)

6 Page 6 of 7 QUESTION 4 [20] Write short notes of 5-6 lines to show your understanding of the following terms used in marketing: 4.1 Economic environment (5) 4.2 Psychographics (5) 4.3 Marketing (NOT the marketing concept) (See 2.2 above) (5) 4.4 Focus groups (as used in marketing research) (5) QUESTION 5 [15] 5.1 Identify and discuss the marketing research process, ensuring that you include all the elements/stages of the process. (10) 5.2 Provide example(s) to show your understanding and your ability to apply what you have learned about the marketing research process. (5) ASSIGNMENT TOTAL: 100

7 Page 7 of 7 ANSWER SHEET (DETACH THE ANSWER SHEET AND INCLUDE IT WITH YOUR ASSIGNMENT) ASSIGNMENT: DATE: 19 MARCH 2013 QUESTION: ONE (1) STUDENT NUMBER: PRINCIPLES OF MARKETING (M1/MAR101) QUESTION SELECTED ANSWER NO. 1.1 A B C D E 1.2 A B C D E 1.3 A B C D E 1.4 A B C D E 1.5 A B C D E 1.6 A B C D E 1.7 A B C D E 1.8 A B C D E 1.9 A B C D E 1.10 A B C D E S