Exam 8 June 2018, questions PDF

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Summary

Office Use Only Semester One 2018 Examination Period Faculty of Business and Economics EXAM CODES: Structure and Sample Questions TITLE OF PAPER: Principles of marketing EXAM DURATION: 2 hours writing time READING TIME: 10 minutes THIS PAPER IS FOR STUDENTS STUDYING AT: (tick where applicable) Caulf...

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Office Use Only

Semester One 2018 Examination Period Faculty of Business and Economics EXAM CODES:

MKC1200-Exam Structure and Sample Questions

TITLE OF PAPER:

Principles of marketing

EXAM DURATION:

2 hours writing time

READING TIME:

10 minutes

THIS PAPER IS FOR STUDENTS STUDYING AT: (tick where applicable)  Caulfield  Clayton  Parkville  Peninsula  Monash Extension  Off Campus Learning  Malaysia  Sth Africa  Other (specify) During an exam, you must not have in your possession any item/material that has not been authorised for your exam. This includes books, notes, paper, electronic device/s, mobile phone, smart watch/device, calculator, pencil case, or writing on any part of your body. Any authorised items are listed below. Items/materials on your desk, chair, in your clothing or otherwise on your person will be deemed to be in your possession. No examination materials are to be removed from the room. This includes retaining, copying, memorising or noting down content of exam material for personal use or to share with any other person by any means following your exam. Failure to comply with the above instructions, or attempting to cheat or cheating in an exam is a discipline offence under Part 7 of the Monash University (Council) Regulations.

AUTHORISED MATERIALS OPEN BOOK

 YES

 NO

CALCULATORS

 YES

 NO

SPECIFICALLY PERMITTED ITEMS if yes, items permitted are:

 YES

 NO

Candidates must complete this section if required to write answers within this paper

STUDENT ID:

__ __ __ __ __ __ __ __

DESK NUMBER:

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INSTRUCTIONS TO STUDENTS 1. The examination is worth 50% of the overall assessment. 2. This examination is marked out of 100. 3. You must pass the examination in order to pass the unit. 4. There are a total of 9 questions and 2 sections in this exam. 5. Section A contains three (3) compulsory questions each worth 20%. 6. Section B contains six (6) questions of which you must answer ONLY FOUR (4). Each worth 10%.

Section A. Compulsory Questions Sample Question 1 Consumer products can be classified into four categories, convenience, shopping, specialty, and unsought products. a)

Recall two recent purchases that you have made. One must be a shopping product and one must be a specialty product. State what the products were and justify your answers (4 marks). Describe the marketing characteristics (price, distribution, and promotion strategies) for each product (6 marks).

b)

Explain how you went through the consumer decision-making process for each of the two products (6 marks). Compare and contrast the two decision-making processes. Discuss the main similarities and differences between the shopping product and the specialty product in terms of the consumer decision-making process (4 marks). (Total = 20 marks)

Sample Question 2 Many marketers use segmentation and targeting strategies to reach the customers. a)

Explain the concept of segmentation (2 marks). List and describe the FOUR main segmentation variables for consumer markets (8 marks). Use the telecommunications industry as an example to illustrate how the segmentation variables can be used to segment the market (4 marks).

b)

Describe the THREE main market strategies: mass marketing, one-to-one marketing and target marketing (3 marks). Provide one example for each strategy to illustrate your answer (3 marks). (Total = 20 marks)

Section B. This section contains six (6) questions of which you must answer ONLY FOUR (4) Sample Question 3 Briefly describe the following pricing terms (5 marks). Provide one example for each term (5 marks). a) Odd-even pricing b) Penetration pricing c) Prestige pricing d) Price skimming e) Psychological pricing (Total = 10 marks)

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Sample Question 4 The nature and type of marketing research varies based on the research question and research design. a)

List and describe the THREE main types of marketing research (6 marks).

b)

Suppose Hungry Jacks wants to understand why the initial version of its Angry Whopper did not sell as well as they expected. Which type of marketing research should they conduct? Justify your answer. (4 marks) (Total = 10 marks)

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