Final Examination Semester 3 / Year 2011

Transcription

1 Final Examination Semester 3 / Year 2011 COURSE : COURSE CODE : MKTG3033 TIME : 2 1/2 HOURS DEPARTMENT : MANAGEMENT LECTURER : WONG YONG HUAT Student s ID : Batch No. : Notes to candidates: 1) The question paper consists of 4 pages, 20 multiple choices, and 5 essay questions. 2) Answer all multiple choice questions, and answer all 5 short essay questions. 3) Return the question paper with your answer booklet.

2 Part A-20 multiple choice questions (2 marks per question, total 40 marks). Circle the right answer 1. All of the following are considered market follower strategies EXCEPT. a. counterfeiter b. cloner c. imitator d. innovator 2. In general, a company should monitor the following variables when analyzing competitors:, share of heart, and share of market. a. share of demand b. share of profits c. share of promotion d. share of mind 3. The in a given marketplace has the largest market share in the relevant product market and usually leads other firms in price changes, new-product introductions, distribution coverage, and promotional intensity. a. market challenger b. market leader c. market follower d. market nicher 4. communicates to the market the company s intended value positioning of its product or brand. a. Packaging b. Price c. Place d. Promotion 5. Purchase decisions are based on how consumers perceive prices and what they consider to be the price not the marketer s stated price. a. current actual b. last purchased price c. current sale price d. referent price 6. The definition of prices is: In considering an observed price, consumers often compare it to an internal memory reference price or an external frame of reference (such as a posted regular retail price ). a. historical b. reference c. promotional d. everyday low price 1/4

3 7. Many consumers use price as an indicator of. Image pricing is especially effective with ego-sensitive products such as perfumes and expensive cars. a. status b. quality c. ability d. capability 8. Intermediaries who buy, take title to, and resell the merchandise are called. a. retailers b. facilitators c. marketers d. merchants 9. Companies that search for customers and may negotiate on the producer s behalf but do not take title to the goods are called. a. marketers b. merchants c. facilitators d. agents 10. One of the chief roles of marketing channels is to convert potential buyers into profitable. a. sales b. marketers c. customers d. orders 11. In a franchising system, individual franchisees are. a. a tightly knit group of enterprises whose systematic operations are planned, directed, and controlled by the franchisor b. regional managers of corporately owned facilities c. employees working in front-line service roles for the entrepreneur d. independent businesspeople who have the freedom to develop their own processes, brands, and images, facilitated by a retailing cooperative 12. is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor. a. Advertising b. Prospecting c. Media d. Marketing 2/4

4 13. Advertising objectives can be classified according to whether their aim is to inform, persuade, remind, or. a. create interest b. purchase c. create demand d. reinforce 14. is most important when launching new products, flanker brands, or extensions of well-known brands. a. Media selection b. Weighted exposures c. Impact d. Reach 15. One of the advantages of direct mail is audience selectivity. One of its limitations is. a. its short life b. poor reproduction quality c. high competition d. relatively high cost 16. A consists of a group of customers who share a similar set of needs and wants. a. market target b. market group c. market slice d. market segment 17. Marketers usually identify niches by. a. dividing a segment into subsegments b. conducting VALS tests c. allowing consumers to gravitate toward product brands d. examining the demographics section of The Handbook of Marketing 18. Those who favor localized marketing see national advertising as wasteful because. a. it gets too up close and personal with consumers b. it drives up manufacturing and marketing costs by reducing economies of scale c. it magnifies logistical problems d. it fails to address local needs 3/4

5 19. If a marketer decides to segment a market based on neighborhoods, the marketer will have chosen the method of segmentation. a. demographic b. psychographic c. geographic d. cultural 20. In marketing, the firm operates in several market segments and designs different products for each segment. a. segmented b. undifferentiated c. differentiated d. geodemographic Part B- 5 essay questions (Total 60 marks). Please answer all five short questions. Question 1: Identify and discuss the six steps of the pricing procedure. (10 marks) Question 2: In designing a marketing channel system, the marketer must understand the service output levels desired by target customers. Channels provide five service outputs. List and briefly describe each of these outputs. (15 marks) Question 3: In developing an advertising program, marketing managers can make the five major decisions know as the five Ms. List and explain each of these Ms. (15 marks) Question 4: A new trend in marketing is toward customerization. Describe what customerization is and how marketers are using it. (10 marks) Question 5: Identify the four market segment groups based on brand loyalty status and list what a company can learn from analyzing the degrees of brand loyalty. (10 marks) 000 4/4