Postgraduate Diploma in Marketing June 2017 Examination Discovering Marketing Essentials (DME)

Transcription

1 Postgraduate Diploma in Marketing June 2017 Examination Discovering Marketing Essentials (DME) Date: 15 June 2017 Time: 0830 Hrs 1130 Hrs Duration: Three (03) Hrs Total marks for this paper is 100 marks. There are three parts in this question paper. All questions in Part One and Part Two are COMPULSORY. Part One includes 20 Compulsory multiple-choice questions. Select the most appropriate answer from the given choices and mark it in the given space in the answer book. Part Two includes 06 Compulsory short answer questions. Part Three includes 02 Essay Type Questions. Answer only 01 Question from this part. Instructions to candidates 1 State your Registration Number on the front cover of the answer book and on each and every additional paper attached to it. Your name must not appear anywhere in the answer book or answer scripts 2. Always start answering a question on a new page 3. You are reminded that answers should not be written in pencil or red pen except in drawing diagrams 4. Answer the questions using: Effective arrangement and presentation Clarity of expression Logical and precise arguments Clear diagrams and examples where appropriate 5. Illegible hand writing and language errors will be penalised

2 PART ONE Read the question and select the most appropriate answer out of the four given choices. Tick your choice in the given space in the answer booklet. Question 01 Question 01.1 Fill in the blank with the appropriate words: According professor Kotler, Marketing is defined as The process by which companies create for customers and build strong in order to capture value from customers in return a) Value, relationships b) Satisfaction, products c) Value, products d) Satisfaction, network Question 01.2 According to the five-step model of the marketing process, which of the following is the final step in creating value for customers? a) Designing a customer-driven marketing strategy b) Understanding the marketplace and customer needs c) Building profitable relationships and creating customer delight d) Capturing value from customers to create profit and customer equity Question 01.3 The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is known as: a) Customer profitability b) Customer relationship management c) Competitive advantage d) Social responsibility Page 2 of 10

3 Question 01.4 Which micro environmental factor is missing from the list: suppliers, distributors, publics, customers? a) Demographic b) Staff c) Competitors d) Political Question 01.5 Survey research refers to: a) Using mechanical and electronic approaches to collect data b) Collecting primary data by using electronic monitoring systems c) Collecting primary data by asking people questions about their knowledge, attitudes, references, and buying behaviour. d) Collecting primary data by observing relevant people, action and situations Question 01.6 Personal interviewing that involves inviting 6-10 respondents to gather for a few hours to talk about a product with a trained interviewer is known as: a) Observational research b) Experimentation c) Focus group interviewing d) Telephone interviewing Question 01.7 The marketing department of a reputed firm wants to improve strategic decision making, track the actions of other players in the market, and developments in the marketing environment and provide early warning of opportunities and threats. Which of the following would help the firm achieve its objectives? a) Ethnographic research b) Descriptive research c) Casual research d) Competitive marketing intelligence Page 3 of 10

4 Question 01.8 Fill in the blank with the appropriate word; The decision making process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands is known as. a) Consumer buying process b) Business buying process c) Complex buying situation d) Business process automation Question 01.9 Which of the following is LEAST relevant when a firm evaluates different market segments? a) Segment size and growth b) Company objectives and resources c) Segment structural attractiveness d) Core competencies of distributors Question Fill in the blank with the appropriate word: Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is the, which addresses the question, "What is the buyer really buying?" a) Actual product b) Augmented product c) Core customer value d) Expected product Question Which of the following is the practice of inviting broad communities of customers, employees, independent researchers, and members of the public into the new-product innovation process? a) Brainstorming b) Idea screening c) Crowdsourcing d) Outsourcing Page 4 of 10

5 Question A network made up of the company, suppliers, distributors and ultimately customers who partner with each other to improve the performance of the entire system is known as: a) Value delivery network b) Marketing channel c) Intermediary d) None of the above Question Fill in the blank with the appropriate word: includes all the activities involved in selling products or services directly to final consumers for their personal and non-business use. a) Franchising b) Retailing c) Brokering d) Wholesaling Question Which of the following promotion tools involves building up a good corporate image and handling unfavourable stories and events? a) Sales promotion b) Personal selling c) Direct marketing d) Public relations Question Fill in the blank with the appropriate word: Integrated marketing communications require a company's mass-market advertisements, Website, , and personal selling communications to have. a) Equal portions of the advertising budget b) Independent communications directors c) The same target audience d) The same message, look, and feel Page 5 of 10

6 Question Fill in the blank with the appropriate word: is the process of developing and maintaining a crucial fit between the organization's goals and capabilities and its changing marketing opportunities. a) Benchmarking b) Strategic planning c) SWOT analysis d) Market segmentation Question With reference to the product/market expansion grid, the strategy of making more sales to current customers with its existing products is termed as: a) Market development b) Market penetration c) Product development d) Diversification Question The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives is known as: a) Marketing implementation b) Marketing planning c) Strategic planning d) Marketing analysis Question The process of comparing the company s products and processes to those of competitors or leading firms in other industries to identify best practices and find ways to improve quality and performance is known as: a) Customer value analysis b) Market follower strategies c) Competitive advantage d) Benchmarking Page 6 of 10

7 Question Developing strategies that strongly position the company against its competitors and give the company the strongest possible strategic advantage is known as: a) Competitive marketing strategies b) Competitor analysis c) Competitive advantage d) Benchmarking (Total 20 Marks) Page 7 of 10

8 PART TWO This part includes SIX compulsory short answer questions, Answer all questions. Question 02 Explain briefly the following terms: i. Marketing concept ii. Marketing myopia iii. Partner relationship management iv. Customer equity Question 03 (2.5 Marks x 4 Questions) (Total 10 Marks) Explain briefly the following terms: i. Mission statement ii. Portfolio analysis iii. Business portfolio iv. SWOT analysis v. Marketing control (2 Marks x 5 Questions) (Total 10 Marks) Question 04 a. Briefly explain the following terms: i. Marketing research ii. Primary data iii. Observational research (04 Marks) b. Briefly explain the key components/parts of the marketing Information system (06 Marks) (Total 10 Marks) Page 8 of 10

9 Question 05 a. Identify and briefly explain the four (04) types of consumer products stating relevant product examples for each. (06 Marks) b. Explain briefly the four (04) special service characteristics that affect the marketing of a service. (04 Marks) (Total 10 marks) Question 06 a. Explain briefly four (04) key functions performed by the members of the marketing channel in the process of making the product available to the end consumer. (04 Marks) b. Explain the following terms stating relevant product examples for each: i. Intensive Distribution ii. Selective Distribution iii. Exclusive Distribution (06 Marks) (Total 10 marks) Question 07 a. Describe the five major marketing communication mix / promotion mix tools that an organisation could use in order to communicate with its customers. b. Briefly explain the following methods of promotional budgets: i. Percentage of sales method ii. Objective-and-task method (06 Marks) (04 Marks) (Total 10 Marks) (Total 60 Marks) Page 9 of 10

10 PART THREE This part includes TWO Essay Type Questions, Answer only ONE question from this part. Question 08 a. With reference to the consumer buyer decision process model, briefly explain the five (05) stages a consumer may go through in buying a consumer durable product of your choice. (10 Marks) b. Explain the four (04) bases of segmenting a consumer market, stating relevant product examples for each base. (10 Marks) (Total 20 Marks) Question 09 a. Describe briefly the key stages of the product life cycle, its characteristics and the marketing objective for each stage. (12 Marks) b. Compare and contrast market-skimming and market penetration pricing strategies and identify two (02) conditions under which each is appropriate. (08 Marks) (Total 20 Marks) (Total 100 Marks) -END- Page 10 of 10