Preliminary Certificate in Marketing

Transcription

1 Preliminary Certificate in Marketing 27 March, 2016 Examination PCM I th Intake, 26 th Year Candidate s Registration Number (As per in the examination admission form / Student ID) For Examiner s use only Part One 1 st Marker 2 nd Marker Final Marks Examiner s Comments Question 01 Part Two Question No. Question 02 Question 03 Question 04 Question 05 Question 06 Question 07 Question 08 Second Examiner s Comments Question 09 Question 10 Question 11 Part Three Question No. Question 12 Question 13 Question 14 Question 15 Total Page 1 of 21

2 Instructions to Candidates Time: 1400 hrs 1700 hrs Duration: Three (03) hours There are three parts in this question paper. Part One Part Two Part Three This part has 40 multiple choice questions. It is a compulsory section. Candidates are expected to select the most suitable answer and tick the selected answer in the given box in the question paper itself. Candidates are expected to answer the questions in the space provided in the question paper. All answers are compulsory. Candidates are expected to answer only two questions out of four. Answers should be written in the additional supplementary answer sheets provided and they should be attached to the question paper itself. Other Instructions State your Registration Number on the front cover of the answer book and on each and every additional paper attached to it. Your name must not appear anywhere in the answer book or answer scripts. Always start answering a question on a new page. You are reminded that answers should not be written in pencil or red pen except in drawing diagrams. Answer the questions using: Effective arrangement and presentation Clarity of expression Logical and precise arguments a) Illegible hand writing will be penalised. Page 2 of 21

3 Question 01 Question 1.1 PART ONE Read the question and select the most appropriate answer Tick your choice in the given space Organizations who have adopted the marketing concept as a business philosophy will consider which of the following? a) Focus on improving production efficiency b) The Customer is at the center of all business decision making and planning c) Developing new products continuously irrespective of need d) Aims to sell what the organization makes rather than what the customer needs Question 1.2 Moral philosophies/principles that define right or wrong behaviour in marketing is known as: a) Corporate Social Responsibility b) Marketing Myopia c) Marketing ethics Question 1.3 A sale is not the end of a process but the start of an organization s relationship with a customer. Such an approach is termed as: a) Production approach b) Transaction approach c) Direct marketing d) Relationship approach Question 1.4 Identifying and understanding the key requirements of customers and then offering them with the appropriate marketing mix, that meets and exceeds these requirements better than competitors leads to the: a) Creation of a Competitive advantage b) Creation of economies of scale c) Creation of distribution efficiency Page 3 of 21

4 Question 1.5 The internal marketing environment of an organization comprises of: a) Customers, Suppliers, Public, Competition and Intermediaries b) Political, Legal, Social, Economic, Ethical and Technological environments c) Staff relationships, Resource constraints and corporate culture d) Staff relationships, Supplier relationships and competitors Question 1.6 The key factors of the Micro Environment are as follows: a) Suppliers, Intermediaries, Competition, Customers and Publics. b) Political, Intermediaries, Competition, Economic and Publics. c) Political, Economic, Security, Technological, Ecological, Competition and Legal d) Economic, Intermediaries, Political, Competition, Customers and Publics. Question 1.7 Fill in the blank with the appropriate word. is the set of controllable, tactical marketing tools that the firm blends to produce the response it wants from the target market. a) Manufacturing process b) Internal marketing c) Marketing Concept d) Marketing Mix Question 1.8 Process element of the extended marketing mix refers to: a) All procedures, systems and policies a consumer needs to go through in dealing with the organisation b) Deals with all aspects of giving tangibility to the intangible service offered to the consumer c) The physical environment which surrounds the purchase d) The way a New product is introduced to the market Page 4 of 21

5 Question 1.9 An organization carries out a research which includes a comparative study of two competitive products with an extended study of its packaging and design and its customer acceptance. How would you term this type of a research? a) Consumer research b) Market research c) Distribution research d) Product research Question 1.10 Fill in the blank with the appropriate word. is a method of data collection which involves either face-to-face respondent or a group of 5-20 respondents. a) Experimentation b) Observational research c) Desk research d) Depth interviews Question 1.11 Marketing research information is composed of the following: a) Secondary data and Qualitative data b) Marketing intelligence and Quantitative data c) Primary data and Secondary data d) Qualitative data and Marketing intelligence Question 1.12 The decision making unit of a buying organization is called the buying center. The buying center consists of: a) Users, Customers, Competitors, Buyers and Deciders b) Users, Influencers, Buyers, Deciders and Gatekeepers c) Users, Influencers, Competitors, Deciders and Gatekeepers d) Users, Influencers, Buyers, Suppliers and Gatekeepers Page 5 of 21

6 Question 1.13 Unilever Sri Lanka offers several washing powders such as Surf excel for removal of tough stains, Rin for whiter clothes, and Sunlight as value for money products targeting different market segments. These type of target marketing strategy is known as: a) Mass marketing b) Differentiated marketing c) Customized marketing d) Undifferentiated marketing Question 1.14 Fill in the blank with the appropriate word. is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations. a) Concentrated marketing b) Internal marketing c) Segmented marketing d) Customized marketing Question 1.15 Describe the term classified for consumer products that are relatively inexpensive and frequently purchased by consumers. a) Shopping products b) Specialty products c) Convenience products d) Unsought products Question 1.16 Fill in the blank with the appropriate word. A is a name, term, sign, symbol or design or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. a) Brand b) Product c) Packaging Page 6 of 21

7 Question 1.17 A service organisation must consider the following service characteristics when designing marketing programs: a) Intangibility, Inseparability, Variability, Perishability and Ownership b) Intangibility, Inseparability, Segmenting, Differentiation and Ownership c) Intangibility, Inseparability, Variability, Packaging and Differentiation d) Intangibility, Packaging, Variability, Perishability and Ownership Question 1.18 Idea generation with regard to new product development process is: a) Collection of information from stake holders to improve the business b) Picking the good ideas and dropping the poor ones c) The systematic search for new product ideas Question 1.19 The only element of the marketing mix which generates revenue is known as: a) Product b) Price c) Physical evidence d) Process Question 1.20 The costs which do not vary with changes in the number of units produced is known as: a) Variable Costs b) Production Costs c) Fixed Costs Question 1.21 A product is priced at Rs. 99/-. Identify the pricing strategy being adopted? a) Psychological pricing strategy b) Market penetration pricing strategy c) Market skimming pricing strategy Page 7 of 21

8 Question 1.22 A pricing strategy whereby a product s price is derived by adding a pre-determined percentage of the cost is known as: a) Mark-up pricing b) Value Based pricing c) Promotional pricing Question 1.23 An ideal distribution strategy for Convenience products such as Milk powder, sugar, toothpaste would be: a) Intensive distribution b) Selective distribution c) Exclusive distribution Question 1.24 Intermediary who sells to the final consumer is known as: a) Wholesalers b) Retailers c) Brokers Question 1.25 Fill in the blank with the appropriate word. is a set of activities - consisting of order processing, materials handling, warehousing, inventory management and transportation - used in the movement of products from producers to consumers, or end users. a) Marketing channel b) Logistics c) Marketing d) Physical distribution Page 8 of 21

9 Question 1.26 The type of advertising objective used heavily when introducing a new product to the market with the objective, to build primary demand is known as: a) Reminder advertising b) Informative advertising c) Persuasive advertising d) Direct marketing Question 1.27 Fill in the blank with the appropriate word. is an approach to achieve the objectives of a marketing campaign, through a well-coordinated use of different promotional tools that are well blended together as a unified force, rather than permitting each to work in isolation, in order to deliver a clear, consistent and compelling message about the organisation and its products. a) Missionary selling b) Personal selling c) Integrated marketing communications d) Direct marketing Question 1.28 Sales promotion is defined as: a) Short term tools/benefits used by the marketer to persuade customers to purchase products b) Advertising, Public relations, Direct marketing and Personal selling c) Long term incentives given to sales force d) Planning and implementing a promotions campaign Question 1.29 AIDA is a frequently used communication process model. AIDA model is: a) Attention, Interest, Desire, Action b) Approval, Interest, Desire, Attention c) Action, Interest, Distribution, Attention d) Attention, Interest, Distribution, Action Page 9 of 21

10 Question 1.30 A personally addressed written offering (letter and/or sales literature) with some form of response mechanism, sent to existing customers from an in-house data base or mailing list is known as: a) Sponsorship b) Telemarketing c) Kiosk marketing Question 1.31 Objectives and Task method in setting the promotional budget refers to: a) Setting the promotional budget as a percentage from competitors spend b) Setting the promotional budget as a percentage of sales of the firm c) Listing down all the activities required to achieve the promotional objectives and attaching a cost to it d) Setting the budget based on what the firm could afford Question 1.32 Some of the distinctive features of Direct Marketing are: a) Precise targeting, Customized, and control b) Mass communication, High credibility and response c) Non personalized, High exposure, and glamorous Question 1.33 In marketing planning process, the question where are we now refers to: a) Situational Analysis b) Marketing Objectives c) Action Plan d) Market analysis Question 1.34 One of the most commonly used and well accepted audit tools in the marketing fraternity is known as: a) BCG matrix b) Ansoff s matrix c) Marketing control d) SWOT analysis Page 10 of 21

11 Question 1.35 Identify the type of marketing control required to evaluate the level of customer satisfaction: a) Efficiency control b) Customer satisfaction c) Profitability control d) Annual plan control Question 1.36 Fill in the blank with the appropriate word. are statements of intent that provide the basic direction for the overall activities of an organization in pursuit of its mission. a) Marketing strategies b) Marketing objectives c) Marketing plan d) Corporate objectives Question 1.37 Fill in the blank with the appropriate word. are both essential if managers are to ensure that the plans are being implemented properly and that the outcomes are as expected. a) Evaluation and Control b) Marketing strategy and Forecasting c) Marketing objectives and Strategies d) Marketing objectives and Forecasting Question 1.38 Fill in the blank with the appropriate word. earns the attention of customers, makes the organisation easy to find and draws customers to the website by producing interesting content. a) Outbound marketing b) M-marketing c) Permission marketing d) Inbound marketing Page 11 of 21

12 Question 1.39 Fill in the blank with the appropriate word: is a social networking site designed specifically for the business community a) Myspace b) Facebook c) LinkedIn d) Instagram Question 1.40 Identify the method of marketing to which the following benefits would fall onto: - One stop shopping - More convenient purchasing - The ability to compare and contrast product offerings - Faster and more flexible purchasing - The opportunity to contact directly with the suppliers a) E-commerce b) Viral marketing c) ITV marketing d) Database marketing (Total 40 Marks) Page 12 of 21

13 PART TWO Answer all questions in the given space Question 02 a. The Evolution of Marketing Concept followed four main Orientations. Fill the blanks with the emphasis of the relevant Orientations. Concept / Orientation Production Orientation Product orientation Selling Orientation Marketing Orientation Emphasis/Aims Profitability through Profitability through Profitability through Profitability through b. Identify two (02) benefits of Relationship Marketing: i.... ii.... Question 03 (04 Marks) a. What is Internal Marketing? Page 13 of 21

14 b. List down five (05) tools of Internal Marketing i. ii. iii. iv. v. Question 04 (04 Marks) a. From the buyer s viewpoint, in this age of customer relationships, the seven P s might be better described as the seven C s. Fill the blanks the 7c s The Buyers view. Sellers View 7P s Product Price Place Promotion People Process Physical Evidence Buyers View 7C s b. List down the 04 (four) key characteristics of an Effective Marketing Mix. i. ii. iii. iv. (04 Marks) Page 14 of 21

15 Question 05 a. What is Secondary Data? b. What is Primary Data? c. Briefly explain two (02) methods of collecting primary data: i. ii... (04 Marks) Page 15 of 21

16 Question 06 a. Identify four (04) reasons for introducing New Products. i. ii. iii. iv. b. Identify five (05) functions of packaging: i. ii. iii. iv. v. (04 Marks) Question 07 Briefly explain the following pricing strategies: a. Market Skimming Pricing strategy b. Value Based Pricing Strategy Page 16 of 21

17 c. Promotional Pricing strategy d. Competitor-based pricing strategy Question 08 (04 Marks) Briefly explain the five (05) marketing communication/promotional mix elements and organization could use to communicate with its target market. i. Page 17 of 21

18 ii... iii. iv... v. (04 Marks) Page 18 of 21

19 Question 09 Briefly explain the following: i. What is an Internal Audit and its purpose in the marketing planning process? ii. What is an External Audit and its purpose in the marketing planning process? (04 Marks) Question 10 a. Identify FOUR factors of why Marketing Control is important? i. ii. iii. iv. b. Identify FOUR benefits of Marketing Planning to an organisation i. ii. iii. iv. Page 19 of 21

20 c. Identify FOUR functions that objectives serve in an organisation: i. ii. iii. iv. (04 Marks) Question 11 a. What is Social Media Marketing? b. What is Viral Marketing? c. Identify four (04) benefits of using digital marketing. i. ii. iii. iv. (04 Marks) (10 Questions x 4 Marks) (Total of 40 Marks) Page 20 of 21

21 PART THREE Select 2 out of 4 questions and answer them in supplementary sheets. Attach your answer sheets to the question paper. Question 12 Identify the difference between a Consumer Market and Business-to-Business Market and explain key stages of the Consumer Buying Decision Process. (10 Marks) Question 13 Explain the four bases/variables of segmenting a consumer market with relevant product examples and list three (03) requirements/criteria for effective segmentation. Question 14 (10 Marks) Briefly explain with relevant examples the different alternative channels available for an organization for the distribution of consumer products and list two (02) criteria to be considered in choosing the right channel structure. (10 Marks) Question 15 Identify four (04) key characteristics of a successful salesperson and explain briefly the seven major steps in the selling process. (10 Marks) (10 Marks x 2 Questions) Total of 20 Marks - END - Page 21 of 21