2009 semester 1 - imm
Page 1 of 9
ASSIGNMENT 1ST SEMESTER
:
PRINCIPLES OF MARKETING (M1) MARKETING 1 (MAR101)
CHAPTERS COVERED
:
CHAPTERS 1 - 6
DUE DATE
:
3:00 p.m. 20 MARCH 2012
TOTAL MARKS
:
100
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 Student Support 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 subject.
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 20 March 2012. Late assignments will be accepted, but 25 marks will be deducted from the maximum mark, if received after 3:00 p.m. on 20 March 2012 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, www.immgsm.ac.za, on Friday, 4 May 2012.
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 2 of 9
SPECIFIC INSTRUCTIONS: This is an „open-book‟ assignment and is set to test your understanding of the concepts and principles involved. 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. Examiner’s Advisory Note: This first year subject forms the very foundation for your future studies in a course with the specific outcome of preparing you to become a successful marketing practitioner. As you have probably discovered by now, marketing is the blending of the scientific disciplines with the artistic field of creativity. With this in mind, this assignment is based on your textbook theory, but is extended to incorporate marketing in the world we live in by asking you to refer your knowledge to marketing activities which are encountered in our everyday lives. This is so that you start, at this early stage, to find practical uses for the theory you are learning, so please give this aspect of the question paper the attention it deserves. Please note, also, that answers which are simply extracts from the textbook are NOT ACCEPTABLE as this does not contribute to YOUR understanding of the topics. Apart from the „essay-type‟ questions, the paper includes „short-answer‟ questions. These are especially selected to broaden the spectrum of topics examined. As the multiple choice questions WILL be included in your final exam, you are advised to pay serious attention to them. Furthermore, it is in your own interest to work through these questions without any „outside‟ assistance if you are to gain the optimum benefit. (In past assignments, some students have collaborated to gain maximum marks in these areas, only to be very disappointed when similar marks are not obtained in the critical final exam.) As a final tip, please remember that the multiple choice questions call for the MOST correct alternative. This is not necessarily the first possibly correct solution, so give each alternative careful consideration before making your decision.
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 3 of 9
ANSWER ALL FIVE (5) QUESTIONS QUESTION 1 Multiple choice
[20]
Indicate your answers to each of the following questions on the answer sheet provided. Each answer is worth two (2) marks. For each section below select the MOST APPROPRIATE answer from the choices given. Mark your answers with an X in the correct block on the ANSWER SHEET on page 8. 1.1
Money supply falls under which variables of the organisation‟s macroenvironment? A. Political B. Social C. Technological D. Economic E. Legal
1.2
Which of the following is NOT a demographic variable? A. Age B. Income C. Attitude D. Education level E. Domicile
1.3
Which of the following statement about customer value is true? A. The greater the competition, the less important customer value is. B. Customer value is the difference between the benefits a customer sees from the market offering and the costs of obtaining these benefits. C. The sure way to achieve higher customer value is to offer a lower price. D. It is the manager‟s view to offer a lower price. E. None of the above.
1.4
A market which has only a few firms in it is referred to as A. a monopoly. B. monopolistic. C. an oligopoly. D. perfect competition. E. None of the above.
1.5
Which of the growth opportunities seems to involve the greatest level of risk? A. Market development B. Product development C. Market penetration D. Diversification E. None of the above.
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 4 of 9
1.6
Which of the following would NOT fall under the heading of „product‟ in a marketing mix? A. Packaging B. Quality C. Brand D. Service E. Sales
1.7
CSR is an acronym for: A. Cash Supply Reserve B. Consolidated Special Resources C. Credit Strapped Retailer D. Council for Scientific Research E. Corporate Social Responsibility
1.8
Micro-marketing A. applies to both profit and non-profit organisations. B. says marketing is more important than accounting, financial, or production activities. C. should begin as soon as goods are produced. D. does away with the need for advertising. E. All of the above are true.
1.9
When conducting a SWOT analysis for an organisation, which of the following categories would an organisation‟s strong sales force fall under? A. Strengths B. Weaknesses C. Opportunities D. Threats E. None of the above.
1.10
In market research, which of the following would NOT be considered to be a source of primary data? A. Suppliers B. Wholesalers C. Trade magazines D. Consumers E. Competitors
QUESTION 2
[20]
2.1
In your own words explain your understanding of the marketing concept.
2.2
“Profit is just there to make the shareholders happy …”
2.3
(5)
Disagree with this statement, and show how „profit‟ can be used to make the company more effective and competitive. to improve the social well-being of communities.
(5) (5)
Explain what is involved in marketing planning.
(5)
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 5 of 9
QUESTION 3
[20]
3.1
Write short notes using your own words to describe „segmentation‟ and „targeting‟ and show how application of these concepts helps to make marketing more effective. (10)
3.2
Write short notes using your own words, to show your understanding of the following terms used in marketing: Qualitative research (5) Early adopters. (5)
QUESTION 4
[20]
“Surely customer centricity is the same as customer value?”
4.1
(8)
Agree or disagree with this statement, giving your reasons and explain clearly what is meant by each of the terms used. 4.2
The economic environment globally, and locally in South Africa, has significant influence for marketers and their thinking regarding marketing plans.
Explain what is meant by „economic environment‟; AND show how a significant downturn in the levels of activity in the economic environment in South Africa could affect the marketing of soap powder on the one hand, and motor vehicles on the other. (Are both products similarly affected?) (12)
QUESTION 5 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 section below select the MOST APPROPRIATE answer from the choices given. Mark your answers with an X in the correct block on the ANSWER SHEET on page 9. 5.1
Which of the following is NOT an example of a specialty good? A. A new vehicle B. A house or flat C. A valuable piece of artwork D. A new stove E. A swimming pool
5.2
A wholesaler is that part of the physical distribution channels that A. sells product to the manufacturers. B. sells directly to the public. C. is the same as an agent. D. sells to the retailers. E. sells only to spaza shops.
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 6 of 9
5.3
„Economies of scale‟ means that A. the largest producers are always the most efficient. B. the unit cost of a product goes down as a firm produces larger quantities of it. C. the more one produces, the greater the profit. D. it is more efficient for an economy to have a larger number of transactions. E. None of the above.
5.4
When formulating business objectives, it is important to ensure they are SMART‟. What does the acronym „SMART‟ stand for? A. Sales, marketing, accounting, relevant, technical. B. Successful, marketing, actual, relevant, technical. C. Smart, measurable, achievable, relevant, time-bound. D. Specific, measurable, achievable, relevant, time-bound. E. None of the above.
5.5
Which of the following would NOT be an „individual‟s‟ influence on his/her decision-making process? A. Attitude B. Perception C. Personality D. Social class E. Motivation
5.6
The consecutive stages of the consumer adoption process are: A. Interest, investigation, purchase, testing, adoption. B. Awareness, investigation, analysis, decision, adoption. C. Awareness, interest, analysis, trial, decision. D. Awareness, interest, evaluation, trial, accept/rejection. E. Any of the above.
5.7
Which of the following was NOT one of the stages in the evolution of marketing? A. The simple trade era B. The production era C. The sales era D. The marketing company era E. The global marketing era
5.8
Which of the following does not form part of Maslow‟s hierarchy of needs? A. Physiological needs B. Social needs C. Safety needs D. Family needs E. Esteem needs
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 7 of 9
5.9
The expanded marketing mix for service products includes an additional 3P‟s. These are A. profit, process, people. B. people, process, physical evidence. C. people, process, profit. D. people, physical evidence, profit. E. process, profit, physical evidence.
5.10
Logistics management could refer to: A. The sequencing of the production processes B. The management of such aspects as raw material purchasing and product distribution C. General management practices D. The managing of the financial aspects of the organisation E. All of the above.
ASSIGNMENT TOTAL: 100
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 8 of 9
ANSWER SHEET (DETACH THE ANSWER SHEET AND INCLUDE IT WITH YOUR ASSIGNMENT) ASSIGNMENT:
PRINCIPLES OF MARKETING (M1) MARKETING (MAR101)
DATE:
20 MARCH 2012
QUESTION:
ONE (1)
STUDENT NUMBER:
S
QUESTION NO. 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
SELECTED ANSWER
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 9 of 9
ANSWER SHEET (DETACH THE ANSWER SHEET AND INCLUDE IT WITH YOUR ASSIGNMENT) ASSIGNMENT:
PRINCIPLES OF MARKETING (M1) MARKETING (MAR101)
DATE:
QUESTION:
20 MARCH 2012
FIVE (5)
STUDENT NUMBER:
S
QUESTION NO. 5.1
A
B
C
D
E
5.2
A
B
C
D
E
5.3
A
B
C
D
E
5.4
A
B
C
D
E
5.5
A
B
C
D
E
5.6
A
B
C
D
E
5.7
A
B
C
D
E
5.8
A
B
C
D
E
5.9
A
B
C
D
E
5.10
A
B
C
D
E
SELECTED ANSWER
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
ASSIGNMENT 1ST SEMESTER
:
PRINCIPLES OF MARKETING (M1) MARKETING 1 (MAR101)
CHAPTERS COVERED
:
CHAPTERS 1 - 6
DUE DATE
:
3:00 p.m. 20 MARCH 2012
TOTAL MARKS
:
100
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 Student Support 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 subject.
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 20 March 2012. Late assignments will be accepted, but 25 marks will be deducted from the maximum mark, if received after 3:00 p.m. on 20 March 2012 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, www.immgsm.ac.za, on Friday, 4 May 2012.
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 2 of 9
SPECIFIC INSTRUCTIONS: This is an „open-book‟ assignment and is set to test your understanding of the concepts and principles involved. 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. Examiner’s Advisory Note: This first year subject forms the very foundation for your future studies in a course with the specific outcome of preparing you to become a successful marketing practitioner. As you have probably discovered by now, marketing is the blending of the scientific disciplines with the artistic field of creativity. With this in mind, this assignment is based on your textbook theory, but is extended to incorporate marketing in the world we live in by asking you to refer your knowledge to marketing activities which are encountered in our everyday lives. This is so that you start, at this early stage, to find practical uses for the theory you are learning, so please give this aspect of the question paper the attention it deserves. Please note, also, that answers which are simply extracts from the textbook are NOT ACCEPTABLE as this does not contribute to YOUR understanding of the topics. Apart from the „essay-type‟ questions, the paper includes „short-answer‟ questions. These are especially selected to broaden the spectrum of topics examined. As the multiple choice questions WILL be included in your final exam, you are advised to pay serious attention to them. Furthermore, it is in your own interest to work through these questions without any „outside‟ assistance if you are to gain the optimum benefit. (In past assignments, some students have collaborated to gain maximum marks in these areas, only to be very disappointed when similar marks are not obtained in the critical final exam.) As a final tip, please remember that the multiple choice questions call for the MOST correct alternative. This is not necessarily the first possibly correct solution, so give each alternative careful consideration before making your decision.
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 3 of 9
ANSWER ALL FIVE (5) QUESTIONS QUESTION 1 Multiple choice
[20]
Indicate your answers to each of the following questions on the answer sheet provided. Each answer is worth two (2) marks. For each section below select the MOST APPROPRIATE answer from the choices given. Mark your answers with an X in the correct block on the ANSWER SHEET on page 8. 1.1
Money supply falls under which variables of the organisation‟s macroenvironment? A. Political B. Social C. Technological D. Economic E. Legal
1.2
Which of the following is NOT a demographic variable? A. Age B. Income C. Attitude D. Education level E. Domicile
1.3
Which of the following statement about customer value is true? A. The greater the competition, the less important customer value is. B. Customer value is the difference between the benefits a customer sees from the market offering and the costs of obtaining these benefits. C. The sure way to achieve higher customer value is to offer a lower price. D. It is the manager‟s view to offer a lower price. E. None of the above.
1.4
A market which has only a few firms in it is referred to as A. a monopoly. B. monopolistic. C. an oligopoly. D. perfect competition. E. None of the above.
1.5
Which of the growth opportunities seems to involve the greatest level of risk? A. Market development B. Product development C. Market penetration D. Diversification E. None of the above.
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 4 of 9
1.6
Which of the following would NOT fall under the heading of „product‟ in a marketing mix? A. Packaging B. Quality C. Brand D. Service E. Sales
1.7
CSR is an acronym for: A. Cash Supply Reserve B. Consolidated Special Resources C. Credit Strapped Retailer D. Council for Scientific Research E. Corporate Social Responsibility
1.8
Micro-marketing A. applies to both profit and non-profit organisations. B. says marketing is more important than accounting, financial, or production activities. C. should begin as soon as goods are produced. D. does away with the need for advertising. E. All of the above are true.
1.9
When conducting a SWOT analysis for an organisation, which of the following categories would an organisation‟s strong sales force fall under? A. Strengths B. Weaknesses C. Opportunities D. Threats E. None of the above.
1.10
In market research, which of the following would NOT be considered to be a source of primary data? A. Suppliers B. Wholesalers C. Trade magazines D. Consumers E. Competitors
QUESTION 2
[20]
2.1
In your own words explain your understanding of the marketing concept.
2.2
“Profit is just there to make the shareholders happy …”
2.3
(5)
Disagree with this statement, and show how „profit‟ can be used to make the company more effective and competitive. to improve the social well-being of communities.
(5) (5)
Explain what is involved in marketing planning.
(5)
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 5 of 9
QUESTION 3
[20]
3.1
Write short notes using your own words to describe „segmentation‟ and „targeting‟ and show how application of these concepts helps to make marketing more effective. (10)
3.2
Write short notes using your own words, to show your understanding of the following terms used in marketing: Qualitative research (5) Early adopters. (5)
QUESTION 4
[20]
“Surely customer centricity is the same as customer value?”
4.1
(8)
Agree or disagree with this statement, giving your reasons and explain clearly what is meant by each of the terms used. 4.2
The economic environment globally, and locally in South Africa, has significant influence for marketers and their thinking regarding marketing plans.
Explain what is meant by „economic environment‟; AND show how a significant downturn in the levels of activity in the economic environment in South Africa could affect the marketing of soap powder on the one hand, and motor vehicles on the other. (Are both products similarly affected?) (12)
QUESTION 5 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 section below select the MOST APPROPRIATE answer from the choices given. Mark your answers with an X in the correct block on the ANSWER SHEET on page 9. 5.1
Which of the following is NOT an example of a specialty good? A. A new vehicle B. A house or flat C. A valuable piece of artwork D. A new stove E. A swimming pool
5.2
A wholesaler is that part of the physical distribution channels that A. sells product to the manufacturers. B. sells directly to the public. C. is the same as an agent. D. sells to the retailers. E. sells only to spaza shops.
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 6 of 9
5.3
„Economies of scale‟ means that A. the largest producers are always the most efficient. B. the unit cost of a product goes down as a firm produces larger quantities of it. C. the more one produces, the greater the profit. D. it is more efficient for an economy to have a larger number of transactions. E. None of the above.
5.4
When formulating business objectives, it is important to ensure they are SMART‟. What does the acronym „SMART‟ stand for? A. Sales, marketing, accounting, relevant, technical. B. Successful, marketing, actual, relevant, technical. C. Smart, measurable, achievable, relevant, time-bound. D. Specific, measurable, achievable, relevant, time-bound. E. None of the above.
5.5
Which of the following would NOT be an „individual‟s‟ influence on his/her decision-making process? A. Attitude B. Perception C. Personality D. Social class E. Motivation
5.6
The consecutive stages of the consumer adoption process are: A. Interest, investigation, purchase, testing, adoption. B. Awareness, investigation, analysis, decision, adoption. C. Awareness, interest, analysis, trial, decision. D. Awareness, interest, evaluation, trial, accept/rejection. E. Any of the above.
5.7
Which of the following was NOT one of the stages in the evolution of marketing? A. The simple trade era B. The production era C. The sales era D. The marketing company era E. The global marketing era
5.8
Which of the following does not form part of Maslow‟s hierarchy of needs? A. Physiological needs B. Social needs C. Safety needs D. Family needs E. Esteem needs
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 7 of 9
5.9
The expanded marketing mix for service products includes an additional 3P‟s. These are A. profit, process, people. B. people, process, physical evidence. C. people, process, profit. D. people, physical evidence, profit. E. process, profit, physical evidence.
5.10
Logistics management could refer to: A. The sequencing of the production processes B. The management of such aspects as raw material purchasing and product distribution C. General management practices D. The managing of the financial aspects of the organisation E. All of the above.
ASSIGNMENT TOTAL: 100
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 8 of 9
ANSWER SHEET (DETACH THE ANSWER SHEET AND INCLUDE IT WITH YOUR ASSIGNMENT) ASSIGNMENT:
PRINCIPLES OF MARKETING (M1) MARKETING (MAR101)
DATE:
20 MARCH 2012
QUESTION:
ONE (1)
STUDENT NUMBER:
S
QUESTION NO. 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
SELECTED ANSWER
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
Page 9 of 9
ANSWER SHEET (DETACH THE ANSWER SHEET AND INCLUDE IT WITH YOUR ASSIGNMENT) ASSIGNMENT:
PRINCIPLES OF MARKETING (M1) MARKETING (MAR101)
DATE:
QUESTION:
20 MARCH 2012
FIVE (5)
STUDENT NUMBER:
S
QUESTION NO. 5.1
A
B
C
D
E
5.2
A
B
C
D
E
5.3
A
B
C
D
E
5.4
A
B
C
D
E
5.5
A
B
C
D
E
5.6
A
B
C
D
E
5.7
A
B
C
D
E
5.8
A
B
C
D
E
5.9
A
B
C
D
E
5.10
A
B
C
D
E
SELECTED ANSWER
Assignment: 1st Semester 2012
© IMM Graduate School of Marketing M1 / MAR101
