UNIVERSITY OF GONDAR

INSTITUTE OF TECHNOLOGY
Department of Industrial Engineering Undergraduate Program
Marketing and Financial Management Mid Exam for 5th-year Industrial
Engineering Students
Course Code: IEng5185
Weight –30% Time allowed – 1hr. Exam date – 26/09/2015 CODE 1
Instruction:
 You must write your name both on the question paper and answer sheet otherwise, zero
results will be rewarded.
 Putting the answers in the question paper is not allowed.
Name _________________________________ID
_______________section_____

Check that the question paper has thirteen different questions

Part I: Multiple choice questions (15 points)

1) You are directed to study the

actors close to the company that
affect its ability to serve its
customers-departments within
the company, suppliers,
marketing intermediaries,
customer
markets, competitors, and
publics. What are you studying?
A) the macroenvironment
B) the microenvironment
C) the marketing environment
D) the demographic
environment
E) the global environmen
1) You are directed to study the
actors close to the company that
affect its ability to serve its
customers-departments within
the company, suppliers,
marketing intermediaries,
customer
markets, competitors, and
publics. What are you studying?
A) the macroenvironment
B) the microenvironment
C) the marketing environment
D) the demographic
environment
E) the global environmen
1) You are directed to study the actors close to the company that affects its ability to serve its

Customers-departments within the company, suppliers, marketing intermediaries, customer

markets, competitors, and public. What are you studying?

A) The microenvironment C) the macro environment

B) The marketing environment E) the demographic environment

D) The global environment

2. The buying process starts when the buyer recognizes a _____

A) Product or Service C) Shop or Market
 B) Need or Problem D) Money or Status

3. Understanding consumer buying behavior is not easy. The answers are often locked deep
within the consumer’s head. The central question for marketers is:
A) How much does a discount or a coupon affect the purchase rate?
B) How much does the consumer need the product being offered for sale?
C) How much money is the consumer willing to spend?
D) How do consumers respond to various marketing efforts the company might use?
4. How will you describe the term marketing mix?
A) A total blend of strategies and strategic elements which are made to target the specific
market and meet consumers’ needs
B)  A total series of decisions related to the product help in increasing the product sales.
C) To define the relationship between the weakness of the company and the strength of
marketing.
D) A complete analysis of the all different factors inside of the company and outside of the
company.

5. Arrange the following steps in the segmentation process in sequential order

I. Determine which demographics, lifestyle, and usage behavior make the segment
distinct and actionable
II. create a “value proposition” product-price positioning strategy for each segment
III. group customers into segments based on similar needs and benefits sought by them
IV. determine the overall attractiveness of each segment based on some predetermined
criteria
V. create a segment story board to list the attractiveness of each segment’s positioning
strategy

A) III, I, IV, V, II B) III, I, IV, II, V

C) I, III, IV, II, V D) I, IV, III, II, V

6. When a business market segment is large or profitable enough to serve, it is termed

 A) Measurable C) accessible D) substantial

B) Actionable E) Differentiable

7. In general, a company should enter only segments in which it can ________ and ________.

A) Identify behaviors; understanding spending power

B) Offer superior value; gain advantages over competitors

C) Offer superior value; ship faster

D) Gain advantages over competitors; differentiate its products

E) Offer lower prices; ship faster

7) 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) black box
C) belief
D) lifestyle
E) social class
8) 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 C) Black box D) Belief
B) Lifestyle E) Social class
9. Bruk and Jamal attended a sales seminar. Both left the seminar with differing opinions
about what was important to implement in their jobs. Both used the information in different
ways, according to what each already believed was important. They have engaged in ________.
A) Selective distortion B) selective attitude
C) Selective retention D) selective attention
E) Perceptual defense
10. "Everyone likes a Mercedes car but few can buy it."This is an example of?

A) Demand B) Desire
B) Want C) Need

Part II: Blank space, list and discussion type (15 points)
11) ______ is a marketing management philosophy that holds that marketing strategy should
deliver value to customers in a way that maintains or improves both the consumer’s and
society’s well-being.( 3 points)

12) Define and state the difference between marketing and sales concepts, micro and macro
environment factors that affect marketing management in detail (5 points)

13. ABC company carrying on business in cosmetics and perfumes. They were not following the
marketing concept and were catering to a target market which was using their products. In other
words, they only concentrated on what they would make, and did not bother about changes in
preference of their target market.

They were later joined by Mr. Dawit, a marketing graduate who advised the company
regarding the changing consumer preference, and the change that were necessary to be
incorporated in the product. He emphasized upon the income factors, and social factors only. He
modernized the products to a great extent, and invested about 300 birr on a new packing, etc.
Even after six months of these changes brought about by him, the company did not seem to have
a proportionate increase in sales. The assistant manager and the product manager were not very
happy with the changes, and thought that although an effort has been made in the right
directions, some important factors concerning consumer behavior had been neglected.

Based on these answer the following questions (7 points)

A) Do you agree with the assistant and the product manager and why?
B) What other factors, if any, could have been considered? Elaborate in detail.