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MPM512S -MARKETING PRINCIPLES - 2ND OPP - JAN 2020 |
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NAMIBIA UNIVERSITY
OF SCIENCE AND TECHNOLOGY
FACULTY OF MANAGEMENT SCIENCES
DEPARTMENT OF MARKETING AND LOGISTICS
QUALIFICATION: BACHELOR OF MARKETING AND OTHERS
QUALIFICATION CODE: O07MARB
LEVEL: NQF LEVEL 5 (10 NOF CREDITS)
COURSE CODE: MPM512S
COURSE NAME: MARKETING PRINCIPLES
SESSION: JANUARY 2020
DURATION: 3 HOURS
PAPER: THEORY
MARKS: 100
SECOND OPPORTUNITY EXAMINATION QUESTION PAPER
EXAMINER(S) | MS. BIANCA TJIZUMAUE
FT/PT
MS. BIANCA VAN NIEKERK
FT/DI
DR. STEWART KAUPA
PT
MS. ROSALIA FOTOLELA
DI
MODERATOR: | MR. SALOMO TJITAMUNISA
INSTRUCTIONS
Answer ALL the questions
Write clearly and neatly
Number the answers clearly
This paper consists of three (3) sections (A, B and C)
Use the table provided on [page 7] to answer the questions for
Section A and Section B, detach and insert it into your answer
booklet
Read each question carefully
7. Allocate your time appropriately
THIS QUESTION PAPER CONSISTS OF 7 PAGES (Including this front page)
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SECTION A
(TOTAL 30 MARKS)
MULTIPLE CHOICE QUESTIONS
(15 X 2 = 30 MARKS)
Please use the table provided on page 7 to answer these question, and then detach and insert
it into your answer booklet. 2 marks shall be awarded for each correct answer.
Question 1
1. We define a
as anything that can be offered to a market for attention,
acquisition, use or consumption and that might satisfy a want or need.
a. private brand
b. service variability
c. service
d. product
e. service encounter
2. Services consist all of the following characteristics of EXCEPT
a. activities
b. tangibility
c. benefits
d. satisfactions
e. aandb
3. A product is a key element in the overall
a. market offering
b. brand equity
c. brand extension
d. co-branding
e. value chain
4. To differentiate their offers, beyond simply making products and delivering services, firms
are creating and managing customer
a. memories
b. experiences
c. unsought products
d. internal marketing
e. service encounters
5. Product planners need to think about 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. core benefit
d. co-branding
e. exchange
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6. A firm’s
consists of all the product lines and items that a particular seller offers
for sale.
a. product mix
b. brand line
c. consumer mix
d. packaging mix
e. line extension
7. Under
, the market consists of many buyers and sellers who trade over a range
of prices rather than a single market price.
a. pure competition
b. monopolistic competition
c. oligopolistic competition
d. pure monopoly
e. none ofthe above
8. Under
, the market consists of a few sellers who are highly sensitive to each
other’s pricing and marketing strategies.
a. pure competition
b. monopolistic competition
c. anoligopoly
d. pure monopoly
e. capitalism
9. The five major product mix pricing situations include all of these EXCEPT
product line pricing
optional-product pricing
captive-product pricing
unbundled product pricing
none of the above
10.A challenge for management in product line pricing is to decide on the price steps
between the
.
various products in a line
product mixes
product groupings
product lines
various target markets
11. When amusement parks and movie theatres charge admission plus fees for food and
other attractions, they are following a(n)
pricing strategy.
by-product
optional-product
captive-product
skimming
penetration
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12. Even though several options are available at any one time, there is
a market.
one single best way
no single way
the most effective way
the least-cost way
a most popular way
to segment
13. The oldest form of segmentation localises products and services to meet local market
demands. This approach is referred to as
segmentation.
geographic
benefit
end-use
customer
image
14.
from the manufacturer or service provider is the set of firms that supply the
raw materials, components, parts, information, finances and expertise needed to create
a product or service.
a. Downstream
b. Upstream
c. Separated
d. Congruous
e. None of the above
15. All of the following are key functions that intermediaries play in completing transactions
EXCEPT
a. promotion
b. information
c. negotiation
d. financing
e. pricing
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SECTION B
(TOTAL 5 MARKS)
TRUE OR FALSE
Question 1
Please use the table provided on page 7 to answer these question, and then detach and insert
it into your answer booklet. 1 mark shall be awarded for each correct answer.
No.
Questions
There is no single way to segment a market.
Some industries commonly use two-part pricing, where the price is broken down
into a fixed fee and a fixed usage rate.
Category killers carry a deep assortment of a particular line with a knowledgeable
staff.
The frequent use of promotional pricing can lead to industry price wars.
Feedback is the reactions of the receiver after being exposed to the message.
SECTION C
(TOTAL: 65 MARKS)
STRUCTURED QUESTIONS: ANSWER ALL QUESTIONS
Question 1
Services are characterised by four key characteristics. Name and describe these four (4)
characteristics.
(8 Marks)
Question 2
By going after segments instead of the whole market, firms have a much better chance to
deliver value to customers and to receive maximum rewards for close attention to customer
needs. Name and explain the four (4) major target marketing approaches.
(8 Marks)
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Question 3
3.1 Differentiate between value-based and cost-based pricing.
(4 Marks)
3.2 Differentiate between fixed cost and variable cost.
(2 Marks)
Question 4
Unique Enterprises is about to introduce a new product to the market. The owner, Quintina
has two primary ways that she might price this new product. Distinguish between the two
(2) primary ways that she might price the new product.
(10 Marks)
Question 5
Companies usually adjust their basic prices to account for various customer differences and
changing situations. Identify and describe any five (5) Price adjustment strategies.
(10 Marks)
Question 6
Retail stores are usually independently owned, but there are some that band together under
some form of corporate or contractual organization. Describe four (4) major types of retail
organizations.
(8 Marks)
Question 7
Wholesaling includes all the activities involved in selling goods and services to those buying
for resale or business use. Identify and briefly describe the three (3) major types of
wholesalers.
(6 Marks)
Question 8
The communication process involves nine elements. Discuss these nine (9) elements in the
communication process.
(9 Marks)
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SECTION A
STUDENT NUMBER:
Question 1
ANSWER SHEET FOR SECTION A AND SECTION B
Please detach and hand in with answer booklet.
(15 X 2 = 30 Marks)
SECTION B
eee Question 1 RUE
(5X 1=5 MARKS)
TOTAL MARKS 100
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