ase ee E BEER EBB EEE: (OND SEMESTER EXAMINATION 2016 BACHELOR OF BUSINESS ADMINE STRATION Level 200 Ps ples of Marketing Morning and Evening Cobarts TIME: TWO HOURS: THIRTY MINUTES (2:30 HRS) INSTRUCTIONS: You are to attempt all questions from Section A and any other two (2) questions from Section B, Marks will awarded for originality In thinking and clarity of expression. Ensure that your response to AJ.1. questions arc in the answer booklet provided. INDEX NUMBER: page 12 EXAMINER: MAAME YAA KUSI BINKAINSTRUCTIONS MULTIPLE CHOIC! 1. An _____ is the set of actual and potential buyers of a product. Attempt all questions in this section. QUESTIONS (Each question carries | mark) A) market B) audience C)-group D) segment E) exchange 2. _ are human needs as shaped by individual personality and culture. Ay Needs By Wants ©) Demands D) Values: E) Exchanges 3, The product concept says that company should do which of the following? A) improve marketing ofits best products 1B) market only those products with high customer appeal C) focus om the target market and make products that meet those customers demands Page | 2 EXAMINER: MAAME YAA KU!E) make promoting progucts w Wary peerenny: ation holds that achieving organizational goals depends om 4, Which marketing needs and wants of target markets and delivering the desired satisfa knowing the as hetter than competitors do? A) product concept B) production concept () selling concept 1D) marketing concept E) societal marketing concept 45The art and science of choosing target markets and bu them is called __- A) snarketing management B) positioning ©) sepmentation D) selling E) differentiation needs to 6. According to the simple five-step model of the marketing process, # compan; _ before designing a customer-driven marketing strategy. A) determine how to deliver superior value EXAMINER: MAAME YAA KUSI BINKA Page | 3:E} construct Key components of a marketing program 7, Which of the following marketing management concepts is most likely 40 lead to marketing my opi A) customer-driven marketing B) customer-driving marketing ©) societal marketing D) marketing E) product 8. Consumer regearch, product development, communication, distribution, pricing and are all core__—_activities A) exchange 1B) marketing ©) management D) production 1) customer relationship management EXAMINER: MAAME YAA KUSL9. The concept is a "sense and respond" philosophy rather than a “make and sell” philosophy. A) product By production (C) marketing D) retailing E) societal marketing 10. When marketers set low expectations for a market offering, the biggest risk they run fs A) disappointing loyal eustomers B) decreasing customer satisfaction cy fa ing to attractenough customers 1) failing to understand their customers’ needs ) incorreetly identifying a target market 11. Which of the following marketing management orientations focuses primarily om improving efficiencies along the supply chain? ‘A) production eoncept B) product concept Page |S EXAMINER: MAAME YAA KUSI BINKAE) societal marketing concept 12, Which of the following is the set of benefits a ct ises to deliver to custo to satisfy their needs? A) a money-back guarantee B) low pricing ‘C) customer service D) a value proposition :) an-attribote 13, All of the following are aceurate descr ing EXCEPT which A) Marketing is the creation of value for customers, ‘B) Marketing is managing profitable customer zelationships. ©) Selling and autvertising are synonymous with marketing D) Marketing involves satisfying customers’ needs, E) Marketing is used by for-profit and not-for-profit organizations, 14. Which customer question is answered by a company's value proposit "Why should I buy your brand rather than a competitar’s?" Page | 6 EXAMINER: MAAME YAA KUSI BINIC) "What are the costs and benenits ot your pranay’ 1D) "What kind of expetience will | have with products and services associated with this brand’? E) "What are the benefits of being a loyal consumer of your brand?” 15. is the act of obtaining a desired object from someone by offering something | return. A) Valuation B) Exchange ©) Bribery D) Value creation 5) Donation door" reflects the 16. "Build a better mousetrap and: the world will beat x path to y ‘concept. A) production By marketing C) selling D) product marketing args IR: MAAME YAA KUSL BINKA Poge | 7as MA Up B) marketing management C) value proposition D) marketing myopia E) the product concept 18. A(n)__is some combination of produets, services, informatio Ore offered to consumers to satisfy a need or want, A) market offering B) value proposition C) demand satistiction D) need proposition B} evoked set 19. Which marketing orientation calls for aggressive promotional efforts and f A) marketing concept B) production concept ©) product concept Page | & EXAMINER: MAAME YAA Keand A) satisfying: quality focused B) advertised; affordable C) im high demand; hard to find DD) segmented; convenient E) available; affordable 2 is defined as a social and managerial process by which individuals and organizations obtain what they need and want thrauigh value creation and ¢ ‘A) Selling B) Advertising C) Bartering D) Marketing E) Negotiating Selecting whieh seg called ents of a population of easto A) market segmentation B) positioning Page | 9 EXAMINER: MAAME YAA KUSI BIDE) managing the marketing effort 23, When backed by buying power, wants become A) soeial needs B) demands C) physical needs: D) selfeesteem needs ) exchanges 24. Which of the following is the term for customers who make repeat purchases and: others about their positive experiences with « product or service? A) bamacles B) customer evangelists ©) butterflies D) full partners E) social customers 25. Which marketing orientation holds that firms must strive to deliver value to cust away that maintains or improves the consumer's and society's well-being? A) marketing concept Page | 10 EXAMINER: MAAME YAA KUSID) societal marketing concept E) equity concept 26. Customer-perecived va js determined by « of the benefits and cosis of a market offering relative to those of competing offers. A) personal axsessm B) rational expectations C) accurate assessment D) objective evaluation 2) emotional understanding 27. Which of the following strate es would x company most likely use to increase customer satisfacti A) decreasing the variety of offered services B) divesting C) lowering prices D) “firing” unprofitable customers fing customer experiences with a brand Page | 11 EXAMI MAAME YAA KUSI BINKA30.8 and Ayou B) cu C) cw 1D) dat Page Jormances the competition's performas semance; competitive prices performance tools mance; unique products luct performance rm uses to implement its marketing strategy is called EXAMINER: MAAME YAA KUSIHEEOOBHHHREBREREHReEeeee|e|' 31, The marketing world is embracing _ because consumers cam wield greater gh cor unication technologies. power and control in the marketplace thron A) partner relationship management B) supply chain management ) customer-managed relationships D) market segmentation E) target marketing oper, more interactive nature of today's 32. Which of the following has NOT contributed to the customer relationships’? A) e-mail B) Web sites C) online social networks 1D) tradition wertising B) video sharing Which of the following best explains why consumers have greater power and cont today's marketplace? A} The production concept and competition have lowered prices. Page | 13 EXAMINER: MAAME YAA KUSI BINKA©) Cusiomer-driven marketing creates products and services that meet customers’ future D) More companies are implementing societal marketing and weighing long-term costs benefits E) Through new communication technologies, customers have more access te informa more methods of sharing their opinions with othe customers. 3a. OF the following, whieh is the most important concept of modern marketing? A) customer relationship m B) e-mail advertising C) mass marketir D) properly trained sales people E) low price irate to say that customers buy from stores and firms that offer A) the highest value for the dollar B) the highest customer perceived value ©) the highest level of customer satisfaction 1D) the most attractive company image E) the most concem for society's interests Page | 14 EXAMINER: MAAME YAA KIhis marketing manager, who believe Keeping customers at arm's lengtm ano usury uses media advertising, Pete knows that (oday few successful firms still prastice trae —_= A) club marketing, 1B) frequency marketing ©) mass marketing D) customer satis E) market segmentation 37, Customer-driven marketing usually works well when __and when customers ‘A) a clear need exists; are difficult to identify B) customers know what they want; are Loyal to the brand. a firm can detiver the goods desired; are thoroughly researched D)a clear need exists; know what they want E) a need exists; don't know what they want 48, When the economy tightens, customer loyalty and customer retention become — for marketers. A) more important 'B) les important C) impossible Page 115. EXAMINER: MAAME YAA KUSI BINE®E) short-term but not long-term goals 39. The final step in the marketing process A) capturing value from customers B) creating customer loyalty C) creating customer lifetime val D) understanding the markerplace E) designing a customer-driven marketi ing strategy 40. FedEx offers its customers fost and reliable package del ‘ery. When Fi weigh these benefits against the monetary cost of using FedEx along with using the service, they are acting upon A) loyalty, B) relationship mazketing C) customer-perceived value D) social relationships E) a societal marketing campaign 41. Which of the following is NOT an accurate description of modern marketing? ‘A) Marketing is the creation of value for eustomers. 5) Marketing involves managing profitable eustomer relationships, Page | 16 EXAMINER: MAAME YAA1D) Marketing involves satisfying customers’ needs. £) Marketing is building value-laden exchange relationships with customers 42, According to the five-step model of the marketing proress, which of the following is the final step in creating value for customers? ‘A) designing customer-driven marketing strategy B) understanding the marketplace and customer needs ©) constructing an integrated marketing program that delivers supsior value » customer detight 1D) building profitable relationships and creati E) capturing value from customers to ereate profit and customer equity top model of the marketing process, a company shew id 43. According to the fi “before designing a customer-driven marketing sts}eey ‘A) determine how to deliver superior value to customers BB) build peofitable relationships with customers ©) use customer relationship management (o create full partners ips with key customers by undeéstand the marketplace and customer needs and wants 1) construct an integrated marketing program 444. Problems associated with secondary data include all ofthe following except AA) consist Page [17 EXAMINER: MAAME YAA KUSI BINKA©) accuracy Dy currency 445) According to the BCG growth-share matrix, which types of SBUS listed below BUs in need of investment profits that help to support othe A) stars B) cash cows CC} question marks B) dogs 446) The purpose of strategic planning is to find ways in which company can best A) overcome losses Fy ise its strengths to take advantage of attractive opportunities in the environ C) evoid paying taxes D) avoid the expense of costly research and deve] Jopment while still getting benefits 47) Ifa company (in Feviewing its product/market expansion grid), decides to pursue demographic markets and expan into new geographic markets with existing produs company would be following which of the general strategies? B) matket development Page | 18. EXAMINER: MAAME YAA K’D) diversincanion 48) Spolling out the specific research approaches, contae methods, sampling, and the instruments the research will usc to gather new data all belong to which step in the marketing process? 'A) define the problem and research objectives B) implement the research plan ©) develop the research plan for eollecting information D) interpreting and reporting the findings 49. __ iva group of people with shared value systems based on eammon Ife experienees and situations A) culture By subculture C) lifestyle composite Dy social class 50, Relatively ordered divisions in a society whose memebers share irnilar values, interest, and ehaviours are called: A) cultures B) subcultures C) social classes Page 119) EXAMINER: MAAME YAA KUSI BINKAD) social factors Section B INSTRUCTIONS: Answer any TWO questions from this section (50 MARKS) | 1, Using the conceptual Ienses of Ansoff's Growth Matrix, suggest four (4) strategies for Ghana Technology University College to increase its market sha marks) 2. You are to speak at your alma mater business seminar on Business and Marketin) are to explain to your audience the differences between market segmentation, tat differentiation and positioning, Proceed (25 marks) 3. Define strategic planning and briefly describe the four steps that lead managers firm through the strategic planning process, (2Smarks), 4. You are being interviewed for position of marketing manager for MYKB Ventur, are to explain to the panelists the differences between market segmentation, ta differentiation and positioning. Respond (25 marks) All The Best! Page | 20 EXAMINER: MAAME YAA KUSI