FOM511S - FUNDAMENTALS OF MARKETING - 1ST OPP - JUNE 2022.pdf

nAmlBIA UnlVERSITY OF SCIEnCE Ano TECHnOLOGY FACULTY OF COMMERCE, HUMAN SCIENCE AND EDUCATION DEPARTMENT OF MANAGEMENT QUALIFICATION: BACHELOR OF SPORT MARKETING QUALIFICATION CODE: 07BOSM...

nAmlBIA UnlVERSITY OF SCIEnCE Ano TECHnOLOGY FACULTY OF COMMERCE, HUMAN SCIENCE AND EDUCATION DEPARTMENT OF MANAGEMENT QUALIFICATION: BACHELOR OF SPORT MARKETING QUALIFICATION CODE: 07BOSM LEVEL: 7 COURSE CODE: FOMSllS COURSE NAME: FUNDAMENTALSOF MARKETING SESSION: JUNE 2022 PAPER: (PAPER1) DURATION: 3 HOURS MARKS: 100 FIRST OPPORTUNITY EXAMINATION QUESTION PAPER EXAMINER(S) John-Graftt Ndungaua MODERATOR: Ms. Fortunate Sithole INSTRUCTIONS 1. Answer ALL the questions. 2. Read all the questions carefully before answering. 3. Marks for each question are indicated at the end of each question. 4. This paper consist of section A, B & C. 5. Kindly answer section A & Bon the answer sheet provided on page 8 & 9 respectively, detach and insert it in your examination booklet. 6. Number the answers clearly. THIS QUESTION PAPER CONSISTS OF _9_ PAGES (Including this front page) I Section A Question 1 (20x1=20) 1. Marketing ______ is the mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products. a. Framework b. Myopia C. Process d. Experiences e. Management 2. A ____ consists of the activities people are expected to perform according to the persons around them. a. Motive b. Tradition c. Lifestyle d. Role e. Life cycle 3. ______ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others. a. Opinion leaders b. Habitual buyers C. Social networkers d. Stealth marketers e. Buzz marketers 4. A buyer's decisions are influenced by ____ such as the buyer's age and life-cycle stage, occupation, economic situation, lifestyle, and personality and self-concept. a. Reference groups b. Attitudes c. Personal characteristics d. Psychographics e. Perceptions 5. The marketer wants to understand how the stimuli are changed into responses inside the consumer's ---~ which has two parts. First, the buyer's characteristics influence how he or she perceives and reacts to the stimuli. Second, the buyer's decision process itself affects the buyer's behavior. a. Culture b. The black box c. Belief d. Lifestyle e. Social class 2 6. A radio station that carries news, features, and editorial opinions about your area is which type of public? a. Financial b. Citizen-action C. Local d. Government e. Media 7. ____ are products and services bought by final consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products. a. Services b. Line extensions c. Industrial products d. Consumer products e. Straight extentions 8. In marketing research, primary data entails: a. data collected for the first time specifically for a marketing research study b. less time-consuming to acquire and less costly than secondary data c. newly published results of government investigations d. part of a strategic planning activity to ensure proper resource allocation e. Preferences in buying behaviour based on incom 9. Which of the following has encouraged marketers to pursue environmentally sustainable strategies? a. Deregulation b. The black market c. The green movement d. Deforestation e. The blue ocean 10. 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. Exploratory research d. Core customer value e. Exchange 11. Marketing seeks to create and manage profitable customer relationships by delivering ____ to customers. a. competitive prices b. superior value c. superior service 3 d. superior promotion e. product assortment 12. By orchestrating several services and products, firms can create, stage and market brand ---- a) Meaning b) Awareness c) Preferences d) Experiences e) Recognition 13. Customer satisfaction depends on the product's perceived value relative to the buyer's ___ _ a) Expectations b) Cost of obtaining the product c) Cost of competing products d) Cost of the lost experience e) All of the above 14. The ____ environment consists of factors that affect consumer purchasing power and spending patterns. a) Social-cultural b) Political-legal c) Technological d) Economic e) Natural 15. An MIS consists of people, equipment and procedures to ---~ sort, analyse, evaluate and distribute information to marketing decision makers. a. Test b. Test market c. Gather d. Critique e. Assess 16. Most large firms research ____ buying decisions to find out what they buy, where they buy, how and how much they buy, when they buy, and why they buy. a) Market b) Consumer c) Permanent d) Social e) Group 17. By definition, a buying centre consists of all the individuals and ____ that participate in the business decision-making process. a) Managers b) Committees 4  c) Task forces d) Units e) Groups 18. The oldest form of segmentation localises products and services to meet local market demands. This approach is referred to as ____ segmentation. a) Geographic b) Benefit c) End-use d) Customer e) Image 19. One common segmentation approach divides the market according to the owners' race, occupation, income and family life cycle. This segmentation approach uses a) VALS b) Benefits c) End-uses d) Demographics e) Psychographics 20. Services consist all of the following characteristics of EXCEPT___ _ a) Activities b) Tangibility c) Benefits d) Satisfactions e) A and B 5  Section B Question 2 (20 X 1 = 20) Answer the following TRUE or FALSEquestions on the answer sheet provided on page 10, detach and insert it in your exam book with your name and student number written on it. 1. The production concept is a philosophy in which achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do. 2. Internet search engines can also be a big help in locating relevant secondary information sources. 3. The process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs, is called target positioning. 4. Marketing intermediaries help the company promote, sell, and distribute its products to final buyers. 5. Each person's distinct personality is usually described in terms of traits such as self- confidence, dominance, sociability, autonomy, defensiveness, adaptability, and aggressiveness. 6. Consumers undertake habitual buying behavior in situations characterized by high consumer involvement and significant perceived brand differences. 7. When using an undifferentiated marketing strategy, a firm might decide to ignore market segment differences and target the whole market with one offer. 8. Specialty products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. 9. Consumerism refers to the management approach that involves developing strategies that both sustain the environment and produce profits for the company. 10. Customer satisfaction depends on the product's perceived performance relative to a buyer's expectations. 11. The simplest definition of modern marketing is managing profitable customer relationships. 12. A thorough definition of marketing tells us that it is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. 13. Marketing intelligence is the systematic collection and analysis of confidential information about consumers, competitors and developments in the marketing environment. 14. The difference between human needs and wants is that needs are states of felt deprivation, while wants are needs as shaped by culture and individual personality. 6  15. The consumer engages in very little fact-finding when it comes to shopping goods. 16. Most marketers today believe they still lack a sufficient quantity of research data to make high-quality decisions. 17. The micro-environment consists of the factors close to the firm that affect its ability to service its customers, such as suppliers, customer markets, competitors and publics. 18. The real value of marketing research and information lies not in quantity but in the customer insights provided. 19. Deprivation is a person's pattern of living as expressed in his or her psychographics. 20. An effective MIS assesses information needs, develops needed information and distributes the information to help managers use it in decision making. Section C Questions 3 (10x6=60 Marks) 1. Marketers must design customer-driven marketing strategies that build the right relationships with the right customers. Name and explain the four (4) major steps in designing a customer-driven marketing strategy. (10 marks) 2. Consumer purchases are influenced strongly by cultural, social, personal, and psychological characteristics. Describe the five (5) Psychological Factors in Consumer Behaviour. (10 marks) 3. Behavioural segmentation divides buyers into segments based on their knowledge, attitudes, uses or responses concerning a product. Briefly discuss the five (5) components of behavioural segmentation. (10 marks) 4. The adoption process is the mental process through which an individual passesfrom first learning about an innovation to final adoption. Adoption is therefore the decision by an individual to become a regular user of the product. Consumers go through five stages in the process of adopting a new product. Briefly discuss each of these stages. (10 marks) 5. Products and services fall into two broad classes based on the types of consumers who use them: consumer products and industrial products. Name and discuss the four types of consumer products. (10 marks) 6. Briefly discuss the five (5) links in the service-profit chain. (10 marks) Total Marks 100 7  Section A Question 1 Answer the Multiple Choice Questions on the answer sheet provided on here on page 8, detach and insert it in your exam book with your name and student number written on it. A B C D E 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 8 ' ( r Section B Question 2 Answer the TRUE or FALSEquestions on the answer sheet provided here on page 9, detach and insert it in your exam book with your name and student number written on it. TRUE FALSE 1. 2, 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 9 ~·'1~ ----~-----------~· W!ltlllii ?/Bag 13388 lll!!mllil!l' Windhoek o,SC1S1C1aaa Namibia lHHDIM!iY 2022-05-06 DEPARTflEnT OFfflRRKETll'IG RODLOGISTICS :,