FOM511S Fundamentals of Marketing 2nd Opp July 2022 PDF

n Am I B I A u n IVE Rs I TY OF SCIEnCE Ano TECHnOLOGY FACULTY OF COMMERCE, HUMAN SCIENCE AND EDUCATION DEPARTMENT OF MANAGEMENT QUALIFICATION: BACHELOR OF SPORT MARKETING QUALIFICATION CODE: 07BOSM...

n Am I B I A u n IVE Rs I TY 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: FOM511S COURSE NAME: FUNDAMENTALSOF MARKETING SESSION: JUNE 2022 PAPER: (PAPER1) DURATION: 3 HOURS MARKS: 100 SECOND 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 9 & 10 respectively, detach and insert it in your examination booklet. 6. Number the answers clearly. THIS QUESTION PAPER CONSISTS OF _10_ PAGES (Including this front page)  Section A Question 1 (20x1=20) Answer the following Multiple Choice Questions on the answer sheet provided on page 9, detach and insert it in your exam book with your name and student number written on it. 1. Marketing seeks to create and manage profitable customer relationships by delivering ___ to customers. a. competitive prices b. superior value c. superior service d. superior promotion e. product assortment 2. By orchestrating several services and products, firms can create, stage and market brand a) Meaning b) Awareness c) Preferences d) Experiences e) Recognition 3. 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 4. 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 5. 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 2  e. Assess 6. 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 7. By definition, a buying centre consists of all the individuals and ____ that participate in the business decision-making process. a) Managers b) Committees c) Task forces d) Units e) Groups 8. 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 9. 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 10. Services consist all of the following characteristics of EXCEPT__ _ a) Activities b) Tangibility c) Benefits d) Satisfactions e) A and B 11. Product planners must design the actual product and find ways to augment it in order to create the bundle of ___ that will provide the most satisfying customer experience. a) core satisfactions b) packaged values c) brand values d) benefits e) characteristics 3 12. ___ are those products purchased for further processing or for use in conducting a business. a. Unsought products b. Specialty products c. Industrial products d. Shopping products e. Accessories 13. 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 14. Primary data must be relevant, current, accurate and __ _ a) Unbiased b) Complete c) Inexpensive d) Collected before secondary data e) Valid 15. A___ is a name, term, sign, symbol, design or a combination of these, that identifies that maker or seller of a product or service. a) Service b) Co-brand c) Internal market d) Brand e) External market 16. Whether to sell via intermediaries or directly to consumers, how many outlets to sell through, and whether to control or cooperate with other channel members are examples of decisions marketers must make about __ _ a) Product b) Distribution c) Promotion d) Price e) Packaging 17. _____ 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 4  c. Social networkers d. Stealth marketers e. Buzz marketers 18. An example of a convienience consumer product is __ _ a) Furniture b) A motorcycle c) A bicylce d) A fridge e) Petrol 19. 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 20. When customer expectations regarding product quality, service quality, and value-based price are met or exeeded, ___ is created. a) External market b) Customer satisfaction c) Planning excellence d) A quality rift e) A value line 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 simplest definition of modern marketing is managing profitable customer relationships. 2. 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. 3. Marketing intelligence is the systematic collection and analysis of confidential information about consumers, competitors and developments in the marketing environment. 4. 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. 5. The consumer engages in very little fact-finding when it comes to shopping goods. 6. Most marketers today believe they still lack a sufficient quantity of research data to make high-quality decisions. 7. 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. 8. The real value of marketing research and information lies not in quantity but in the customer insights provided. 9. Deprivation is a person's pattern of living as expressed in his or her psychographics. 10. An effective MIS assesses information needs, develops needed information and distributes the information to help managers use it in decision making. 11. A belief is a descriptive thought that a person has about something. 12. The kind of goods that are purchased by customer's after comparing products on basis of price, quality and sustainability are classified as unsought goods. 13. Gender segmentation has long been used in clothing, cosmetics, toiletries, and magazines. 6 14. We define a product as anything that can be offered to a market for attention, acquisition, use or consumption and that might satisfy a want or need. 15. The core product is a form of product that consists of activities, benefits or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. Examples are banking, hotels, airlines, retail, tax preparation and home repairs. 16. Generation Xis a demographic age group characterized by a total fluency and comfort with computer, digital, and Internet technology. 17. Each person's distinct personality is usually described in terms of traits such as self- confidence, dominance, sociability, autonomy, defensiveness, adaptability, and aggressiveness. 18. The introduction of new technologies is beneficial to all industries, as new markets and opportunities are created. 19. Customer satisfaction depends on the product's perceived performance relative to a buyer's expectations. 20. Consumerism refers to the management approach that involves developing strategies that both sustain the environment and produce profits for the company. 7  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) 8  Section A Question 1 Answer the Multiple Choice Questions on the answer sheet provided on here on page 9, 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. 9  Section B Question 2 Answer the TRUE or FALSEquestions on the answer sheet provided here on page 10, 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. 10  -~·"'--- -"·~--------, ®5-- ,_ P/Bag 13388 Windhoek Namibia 2022-05-.0 6 OFmnRHETHIG DEPARTfflEnT -------------------· RODUISISTICS