POLYTECHNIC OF NAMIBIA

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1 POLYTECHNIC OF NAMIBIA SCHOOL OF ECONOMICS & FINANCE DEPARTMENT OF MARKETING BACHELOR OF MARKETING (07BMAR & OTHER PROGRAMMES) INTRODUCTION TO MARKETING AND ITS ENVIRONMENT SUBJECT CODE: IME511S DATE: November 2013 DURATION: 2 Hours MARKS: 100 EXAMINERS: Ms G. Karita Ms A. Shimuafeni MODERATOR: Mr. V.O. Somosu 2"d OPPORTUNITY EXAMINATION QUESTION PAPER (Th is paper consists of 12 pages including this front page) INSTRUCTIONS This paper consists of three (3) sections (A, 8 & C) Answer ALL questions Use the tables provided on page [11 & 12] to answer Question 1 and Question 2 respectively: Detach and insert into your answer booklet Write as legible as possible, and as precise as possible Read each question carefully Allocate your time appropriately GOOD LUCK! li Page

2 SECTION C Question 4 Read the mini case scenario below and answer the all the questions that follow. (20 Marks) You got engaged 3 years ago but delayed the wedding so could save up enough funds for the wedding. This is something you dreamed about since you were young and it's about to happen. You expect about guests including friends and family. 4.1 Your wedding is now 3 month away and you have to purchase your wedding dress/suit. Discuss the five stages of the buying decision process you would engage in for this purchase. (10 Marks) 4.2 Considering the scope of each influence, discuss briefly any of the variables that may influence your purchase behavior. (5 Marks) 4.3 Describe five important strategies/tactics for a marketer of a high-involvement product. (5 Marks) 10 I P age

3 (DETACH AND HAND IN WITH YOUR ANSWER SHEET) Student no.... [30 Marks] SECTION A: Question 1 [Multiple Choices] 111 Pa ge

4 (DETACH AND HAND IN WITH YOUR ANSWER SHEET) Student no [20 Marks] SECTION A: Question 2 [True or False] END 12 I P age

5 SECTION A Question 1 [Multiple choice questions] Choose the correct answer and use the table provided on [page 11] to answer these questions, detach and insert it into your answer booklet. 1 mark shall be awarded for each correct answer. (30 x 1 = 30 Marks) 1.1 When a company identifies the parts of the market it can serve best and most profitably, it is practicing, A. Adapted marketing B. Differentiation C. Mass marketing D. Market targeting E. Segmentation 1.2 Consumer advocates call for all of the following additional consumer rights EXCEPT A. The right to influence marketing practices in ways that will improve the quality of life B. The right to be protected against questionable products and marketing practices C. The right to be well informed about important product aspects D. The right to influence products in ways that will improve the quality of life E. The right to be protected from unwanted marketing messages. 1.3 Your firm has decided to localize its products and services to meet local market demands. A good approach to use would be segmentation. A. Benefit B. Customer C. End-use D. Geographic E. Image 1.4 The consumer market is made up of which? A. Individuals who acquire goods or services for personal consumption B. Households that purchase goods or services for personal consumption C. Businesses that purchase goods and services D. A and B E. All of the above 21 Page

6 1.5 Which steps of the five-step marketing process are about understanding customers, creating customer value, and building strong customer relationships? A. The first two only B. The last four only C. The first four only D. The last three only E. The first three only 1.6 is the most basic cause of a person's wants and behavior. A. Brand personality B. Social class C. Culture D. Selective perception E. Cognitive dissonance 1.7 What are the four steps involved when to designing a customer-driven marketing strategy? A. Market segmentation, differentiation, positioning, and targeting B. Market recognition, market preference, market targeting, and market insistence C. Market alignment, market segmentation, differentiation, and market positioning D. Market segmentation, targeting, difference, and positioning E. Positioning, market segmentation, mass marketing, and targeting 1.8 Facebook and Twitter are both examples of A. Buzz markets B. Social networks C. Early adopters D. Opinion leader E. Word-of-mouth markets 1.9 You are an assistant marketing director for firm in a market with many low-margin customers. What type of relationship would be most profitable for you to develop with these customers? A. Basic relationship B. Basic partnerships C. Full partnerships D. Club programs E. Selective relationship 3I Page

7 1.10 The 1s the most important consumer buying unit in a society; the roles and influences of different members have been researched extensively. A. Family B. Reference group C. Subculture D. Membership group E. Social class 1.11 Marketers respond to charges of high advertising and promotion costs that unnecessarily increase retail prices by arguing all of the following factors EXCEPT which one? A. Advertising and promotion adds value by informing potential buyers of the availability and merits of a brand. B. Advertising and promotion is necessary for a firm to match competitors' efforts. C. Advertising and promotion make consumers feel wealthy D. Advertising and promotion adds quality to the product. E. Advertising and promotion make consumers feel attractive is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation and exchange. A. Selling B. Negotiating C. Bartering D. Advertising E. Marketing 1.13 In which of the following scenarios would high-pressure selling tactics typically be most advantageous for marketers? A. Selling situations with long-term customers B. One-time selling situations C. Selling situations with new customers with a high likelihood of becoming repeat customers D. Selling situations with a company's most highly valued customers E. Selling situations with dissatisfied customers 1.14 Critics have charged that some companies intentionally manufacture their products with materials or components that cause the product to require replacement before it actually should need replacement. What is this called? A. Expressed dissatisfaction B. Planned obsolescence C. Nonfunctional warranty D. Products success E. Unauthorized guarantee 41 Page

8 1.15 Which of the following in NOT a step in the strategic planning process? A. Defining the company mission B. Planning marketing and other functional strategies C. Setting company objectives and goals D. Evaluating all members of the value chain E. Designing the business portfolio is an organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers. A. The Human Relations Act B. Grassroots politics C. Consumerism D. Environmentalism E. The Bill of Rights 1.17 In a basic SWOT analysis, the 'S' stands for A. Situation B. Strategies C. Strengths D. Satisfaction E. Solutions 1.18 As international trade barriers come down and global markets expand, environmental issues are having impact on international trade. A. A greater B. A stabilizing C. A neutral D. A uniform E. A decreased 1.19 Which of the following terms is used to describe the factors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers? A. The cultural environment B. Target markets C. Strategic planning D. The marketing mix E. The marketing environment SI Page

9 1.20 According to the simple five-step of the marketing process, a company needs to before designing a customer-driven marketing strategy. A. Use customer relationship management to create full partnerships with key customers B. Determine how to deliver superior value C. Build profitable relationships with customers D. Construct key components of a marketing program E. Understand the marketplace and customer needs and wants 1.21 Which of the following refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs? A. Marketing management B. Marketing myopia C. Value proposition D. Selling myopia E. The product concept 1.22 A (n) is the set of actual and potential buyers of a product. A. Segment B. Audience C. Exchange D. Group E. Market 1.23 A marketing information system (MIS) consists of people and procedures to assess information needs,, and help decision makers analyze and use the information. A. Experiment to develop information B. Develop the needed information C. Test market the information D. Question the needed information E. Critique the needed information 1.24 Beyond simply retaining good customers, marketers want to constantly increase their "share of customer" what does this mean? A. Marketers want to increase the profit margin with this target market B. Marketers want to continuously increase their customers' levels of satisfaction C. Marketers want to increase their market share D. Marketers want to increase the share they get of the customer's purchasing in their product categories E. Marketers want to decrease their customers' levels of satisfaction 6I Page

10 1.25 At Gina's Nails, the posted policy is "Without our customers, we don't exist". Gina and her staff aim to delight each customer, and they are quick to offer discounts or extra services whenever a customer is anything less satisfied. Gina and her staff strive to make every customer a repeat customer. It is most accurate to say that instead of focusing on each individual transaction, Gina and her staff put a priority on. A Converting 'strangers' B. Partner relationship management C. Capturing customer lifetime value D. Enlisting customer evangelists E. Attracting 'butterflies' 1.26 The real value of a company's marketing research and information system lies in the A Amount of data it generates B. Efficiency with which it completes studies C. Quality of customer insights it provides D. Variety of contact methods it uses E. Marketing information system it follows 1.27 Four common sources of internal include the accounting department, operations, the sales force, and the A Competition B. Stockholders C. Online focus groups D. Web E. Marketing department 1.28 Which of the following in NOT a potential source for competitive marketing intelligence? A Collecting primary data B. Purchasing competitors' products C. Monitoring competitors' sales D. Looking through competitors' garbage E. Talking with purchasing agents 1.29 Critics charge that intermediaries A. Provide only necessary services B. Are too few in number C. Are too competitive D. Are inefficient E. Underprice their services F. 71 Page

11 1.30 Which of following is true about Customer Relationship Management (CRM)? A. Its aim it to increase the efficiency of each customer touchpoint. B. It relies on information produced through primary research. C. Its aim is to maximize profit margins. D. Most companies who first implements CRM have greatly benefit from the results. E. Its aim i to maximize customer loyalty. Question 2 [True or False Questions] Indicate whether the following statements are True or False by Crossing (X) in the appropriate box. Use the table provided on [page 12] to answer these questions. Detach and insert it into your answer booklet. 1 mark(s) shall be awarded for each correct answer. (20 x 1 = 20 Marks) 2.1 The total combined customer lifetime values of all of the company's current and potential customers is called customer equity 2.2 Online marketing is now the fastest growing form of marketing. 2.3 Almost every company, large or small, is touched in some way by global competition. Today, companies are also buying less supplies and components abroad. 2.4 Forward-looking companies view socially responsible actions as an opportunity to do well by doing good. 2.5 Marketing intermediaries help the company to select, buy, and evaluate its products to final buyers. 2.6 Marketing managers should take a reactive rather than proactive approach to the marketing environment Variety-seeking buying behavior occurs in situations characterized by high consumer involvement but significant perceived brand differences. 2.8 Learning describes changes in an individual's behavior arising from experience. 2.9 Direct investment is the development of local based assembly or manufacturing facilities The right to expected performance is one of the traditional seller's right Consumer-oriented marketing means that the company should view and organize its marketing activities from the intermediary 's point of view A multi-national company operates in only one country. 8I Pa ge

12 2.13 Capturing value from customers is the step of the marketing process that lets the company reap the rewards of its strong customer relationships With mature consumerism and environmentalism movements, marketers are called to develop unsustainable marketing practices Internal databases are electronic collections of consumer and market information obtained from data sources within a company's network Global marketing is the performance of business activities designed to plan, price, promote and direct the flow of a company's goods and services to consumers or users in more than one country for a loss A consumer purchases fine, expensive furniture after having conducted thorough personal research and perceived significant differences among brands. The customer is said to exhibit a complex buyer behaviour The value proposition is the set of benefits or values a company promises to deliver to customers to satisfy their needs Portfolio analysis is a major activity in strategic planning whereby management evaluates the products and businesses that make up the natural environment Diversification is where a company starts up or buys businesses outside of its current products and markets Question 3 SECTION B 3.1 Briefly compare the three different types of research approaches for gathering primary data. (10 Marks) 3.2 W ith relevant examples, discuss the ways in which critics accuse marketing of harming the consumer. (1 0 Marks) 3.3 Identify and describe the stages in the adoption process. (10 Marks) 9I Page

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