beds mar0011 principles of marketing demonstrate an acceptable level of understanding

Demonstrate an acceptable level of understanding of key terms and concepts in marketing
Provide a competent analysis of a given predictable business situation and present an appropriate response in the form of a simple marketing mix plan
Section A Multiple Choice Questions
Select your answers on this booklet. Attach the booklet to your exam answer booklet at the end of the examination.
1.According to your first lecture, the term The Marketing Concept refers to
Satisfying customer needs, precisely, in a dynamic environment
Identifying customer needs, precisely, in a difficult environment
Satisfying customer needs, profitably, in a dynamic environment
Meeting customer needs, profitably, in a difficult environment
2.Charles Revson of Revlon observed: In the factory, we make cosmetics; in the store, ________.

we make profits
we sell hope
we sell quality
we implement ads
3.According to the textbook, ________ is the ultimate user of a good or service.

Target market
4.Which of the following is part of the product element of the marketing mix?

Store coupon
Newspaper advertisement
Publicity releases
5.According to the textbook, targeting can take one of four approaches, undifferentiated, differentiated, concentrated and:

Cost leadership
6.Any direct interface between customers and a companywhether it is online, in-person, or over the phoneis called a ________.

Share of customer
Customer target
Data point
7.Which of the following is not part of the Consumer Buying Decision Process?

Product specification
Need recognition
Information search
Purchase decision
8.The ________ is the potential profit generated by a single customer’s purchase of a firm’s products over the customer’s lifetime.

Lifetime value of a customer
Segmentation of a customer
Share of a customer
Equity of a customer
9.Buy one get one free is an example of

Sales promotion
Public relations
Personal selling
10.In one-to-one marketing, what is the next step after a marketer has identified customers and knows them in as much detail as possible?
Interact with the customers and find ways to improve cost efficiency
Differentiate among these customers in terms of both their needs and their value to the company
Customize some aspects of the products or services offered to each customer
Implement a mass customisation program
11.If the price of a product is raised a lot with relatively little fall in sales then demand for that product is price inelastic.
12.When using ________, a consumer exerts little effort in making a purchase decision.
Habitual decision making
Extended problem solving
Independent heuristic rating
Limited problem solving
13.According to your textbook, a persons ________ consist(s) of sets of people that a consumer wants to please or imitate.
reference groups
14.In marketing communications, a push campaign is where:
Advertising to consumers encourages them to make a purchase
A product is given an extra big push
A press release is pushed out to journalists
Retailers are given incentives to encourage consumers to buy
15.Holding a press conference is an example of
Public relations
Sales promotion
Personal selling
16.A loss leader is:
A product that is sold at a lower price in order to increase market share
The product that has the highest costs
A product that is sold at or below cost in order to sell additional products or services
The product that makes you the biggest los
17.In the lecture on Segmentation four approaches to segmenting the marketplace were given. They were:
Demographics, topography, habits & advantages
Demographics, geography, sociocultural & features
Demographics, geodemographics, lifestyle & benefits
Demographics, physiography, sociocultural & technical
18.________ is the difference between the prospective customers evaluation of all the benefits and all the costs of an offering.
Failure avoidance rate
Customer perceived value
Perceived usefulness
Report rating
19.The four key features of a service identified by Kotler are
Congruity, intangibility, perishability, integrity
Divergence, intangibility, durability, consonance
Heterogeneity, intangibility, perishability, inseparability
Similitude, intangibility, persistence, construction
20.A positioning statement is
An internal accounting term that indicates products with growth potential
A promise to the customer about what a product will do
A statement that places the product against the competition
Two products bundled together to offer the consumer greater value for money
Section B Mini case
You have developed a cultural knowledge-focused Point & Know app for the Moscow tourist market. Tourists visiting Moscow can use their smartphone to point the app at famous landmarks and learn about the cultural significance of the landmark in the language of their choice.
Your task is to provide your detailed marketing mix plans for the app, justified though a clearly identified specific target market within the Moscow tourism market place. You should include a Gantt chart covering your marketing communications activities for one month prior to launch and four months postlaunch as part of your submission.
The costs of developing the app can be considered to be sunk and therefore do not need to be accounted for.
You should not aim your app at every tourist.
You may wish to include other features within your app tailored to your chosen target market.
You need to choose whether you will make the app free, funded by advertising, or whether you will charge users.
You will need to choose an appropriate justified brand for your app.
You should consider all forms of competition, and the position that your app will take in the market place
See the information overleaf on how your case study response will be marked

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