ASSIGNMENT 1 ST SEMESTER : PRINCIPLES OF MARKETING (M1) MARKETING 1 (MAR101)

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1 Page 1 of 6 ASSIGNMENT 1 ST SEMESTER : PRINCIPLES OF MARKETING (M1) MARKETING 1 (MAR101) CHAPTERS COVERED : CHAPTERS 1-6 DUE DATE : 3:00 p.m. 18 MARCH 2014 TOTAL MARKS : 100 MATERIAL SUPPLIED : ANSWER SHEET (PAGE 6) INSTRUCTIONS TO CANDIDATES FOR COMPLETING AND SUBMITTING ASSIGNMENTS The complete Instructions to Students for Completing and Submitting Assignments must be collected from any IMM GSM office, the relevant IMM GSM recognised Additional Tuition Centre or can be downloaded from the IMM GSM website. It is essential that the complete instructions be studied prior to commencing your assignment. The following points highlight only a few important notes. 1. You are required to submit ONE assignment per module. 2. The assignment will contribute 20% towards the final examination mark, and the other 80% will be contributed by the examination, however, the examination papers will count out of 100%. 3. Although your assignment will contribute towards your final examination mark, you do not have to earn credits for admission to the examinations; you are automatically accepted on registering for the exam. 4. Number all the pages of your assignment (e.g. page 1 of 4) and write your name and surname, student number and subject at the top of each page. 5. The IMM GSM requires assignments to be presented in a typed format, on plain A4 paper. Unless otherwise specified, this assignment must be completed within a limit of 1500 words, excluding the bibliography. Students who exceed the word limit may find that only part of the submitted assignment will be marked. 6. A separate assignment cover, which is provided by the IMM GSM, must be attached to the front of each assignment. 7. Retain a copy of each assignment before submitting, in case the original does not reach the IMM GSM. 8. The assignment due date refers to the day up to which assignments will be accepted for marking purposes. The deadline is 3:00 p.m. on 18 March Late assignments will be accepted, but 25 marks will be deducted from the maximum mark, if received after 3:00 p.m. on 18 March 2014 and up to 5:00 p.m. the following day, after which no assignments will be accepted. 9. If you fail to follow these instructions carefully, the IMM Graduate School of Marketing cannot accept responsibility for the return of the assignment. It may even result in your assignment not being marked. Results will be available on the IMM GSM website, on Friday, 2 May 2014.

2 Page 2 of 6 SPECIFIC INSTRUCTIONS: 1.1 This is an open-book assignment and is set to test your understanding of the concepts and principles involved. 1.2 You will be penalised for copying the work of fellow learners, or simply copying passages from the textbook, study notes or other texts. Be aware that doing this is plagiarism! It is only when you use your own words that the markers are able to establish whether you have understood the concepts outlined in the study notes. The markers are then in a better position to offer you constructive feedback. Students are reminded that this is an individual effort and group submissions will be penalised. Answer ALL the questions. Presentation marks are not awarded. ANSWER ALL FIVE (5) QUESTIONS QUESTION 1 Multiple choice [20] Indicate your answer to each of the following questions on the answer sheet provided. Each answer is worth two (2) marks. For each question below select the MOST APPROPRIATE answer from the choices given. Mark your answer with an X in the correct block on the ANSWER SHEET on page Which if any of the following are not part of Maslow s hierarchy of needs? a) Social needs b) Cultural needs c) Psychological needs d) Safety needs e) More than one are not part. 1.2 Marketing segmentation is generally considered to involve four levels. Which of the following most represent the four levels of marketing segmentation? a) Macro-marketing; micro-marketing; selected marketing; progressive marketing b) Micro-marketing; segment marketing; niche marketing; mass-marketing c) Mass-marketing; macro-marketing; micro-marketing; segment marketing d) Segment marketing; macro-marketing; niche marketing; micromarketing e) None of the above.

3 Page 3 of Rogers innovation adoption model identifies various categories of consumers, according to their readiness to try new products or innovation. Which of the following best describes the typical early majority category? a) Adventurous, keen and eager to try something new. b) They do not like change, are conservative and suspicious of new things. c) They are skeptical and will only adapt the product when many others have tried it. d) They are cautious consumers preferring to adopt only after the product has proved successful. e) They are well educated and often opinion leaders in their communities. 1.4 Fiscal policy is one of the aspects encountered in which area of the macro environment? a) Economic b) Social c) Political d) Technological e) Legal 1.5 Which group identified in Roger s innovation adoption model is most likely to be older and most likely to purchase due to external pressures? a) Innovators b) Early adopters c) Early majority d) Late majority e) Laggards 1.6 Which competitive strategy concentrates on producing a unique product but to a broader target market in other words, a target market that values differentiation rather than low prices? a) Focused strategy b) Cost leadership strategy c) Niche market strategy d) Differentiation strategy e) Price parity strategy 1.7 Which term is most out-of-place: a) Product b) Culture c) Promotions d) Pricing e) None of them. 1.8 Which of the following are not used as the basis of demographic segmentation? a) Climate b) Lifestyle c) Specific benefits d) Personality e) All of the above

4 Page 4 of Differentiation strategies require the organisation to a) stay focused on its target markets. b) target different market segments with different products. c) carry a range of products with different marketing mixes. d) All of the above. e) None of the above Which is the most populated province of SA? a) Limpopo b) KwaZulu Natal c) Gauteng d) Eastern Cape e) Western Cape QUESTION 2 [20] 2.1 Explain in not more than four (4) lines what is meant by the term marketing objective, and provide an example of a marketing objective. (6) 2.2 Explain in not more than four (4) lines what is meant by the term marketing strategy, and provide an example of a marketing strategy. (6) 2.3 Using your examples for each of the above show how they work together in practice in marketing planning. (8) QUESTION 3 [20] Marketing is important to all organisations, irrespective of which sector they operate in. Select an organisation from either the motor industry or FMCG sectors and 3.1 show why marketing is important to the organisation. (7) 3.2 identify how marketing assists the following functions to perform their tasks effectively in context with the marketing concept: Finance Production Distribution. Bear in mind that part of the marketing function is to guide the organisation and assist in providing a coordinated/integrated effort. Please use examples to illustrate your understanding. (13) QUESTION 4 [20] Everyone talks about the fact that customers are central to the company and need focus and attention. 4.1 Explain in your own words why the customer is so important (illustrate your answer with examples to show your understanding). (6)

5 Page 5 of Describe in brief how marketers go about understanding the customer/consumer decision-making process and identify the various individual and socio-cultural influences on the decision-making process. (14) QUESTION 5 [20] 5.1 Describe your understanding of primary data and secondary data. (7) 5.2 Provide three (3) examples of primary data. (3) 5.3 Culture has been described as a society s personality. State what culture is and discuss a few of the cultural forces that give the society you live in its distinctive character. (8) 5.4 What is the estimated population of South Africa as per 2009 statistics (see text); and as per the latest census results (find out!) (2) ASSIGNMENT TOTAL: 100

6 Page 6 of 6 ANSWER SHEET (DETACH THE ANSWER SHEET AND INCLUDE IT WITH YOUR ASSIGNMENT) ASSIGNMENT: PRINCIPLES OF MARKETING (M1) MARKETING 1 (MAR101) DATE: 18 MARCH 2014 QUESTION: ONE (1) STUDENT NUMBER: S QUESTION NO. SELECTED ANSWER 1.1 A B C D E 1.2 A B C D E 1.3 A B C D E 1.4 A B C D E 1.5 A B C D E 1.6 A B C D E 1.7 A B C D E 1.8 A B C D E 1.9 A B C D E 1.10 A B C D E