Marketing and Total Product Concept Essay

Submitted By MichaelSong
Words: 926
Pages: 4
Open Document
1003MKT – INTRODUCTION TO MARKETING
FINAL EXAM STUDY GUIDE
(Final and Deferred Study Areas)
Semester 1, 2012

GENERAL INFORMATION

* Length: 2 hours and 30 minutes.
* Theme Areas: Lectures 6 – 12 (Marketing Mix; Marketing Implementation; International Marketing)
* Major Sections: Multiple Choice; Short Answer; Case Study

TOPICS
(The key study areas are underlined below.)

PRODUCT * Total product concept * Product life cycle * Product classification * Product differentiation * New product development process * Product adoption process * Product modification * Managing products through the lifecycle * Packaging * Product mix * Services * Service characteristics and challenges * Service quality * Extended services marketing mix

PLACE * Distribution channels * Marketing channel utility * Supply chain management * Marketing intermediaries * Retailing

PROMOTION * Integrated Marketing Communication Strategy * Communication model * Promotion objectives * Promotion mix elements/ activities * Additional forms of promotion * Push and pull promotion policies * Positioning

PRICE * Stages of pricing * Price elasticity * Pricing objectives * Pricing strategies * Cost considerations * Pricing management * Value

MARKETING IMPLEMENTATION * Implementing the marketing concept * Marketing cycle * Marketing metrics
INTERNATIONAL MARKETING * International marketing * Globalisation * Customisation * Standardisation

PART A – MULTIPLE CHOICE - [10%]

INSTRUCTIONS: Each question is worth 0.5 marks. Choose the best or most correct answer. Answer all questions on the multiple choice answer grid in the answer booklet.

EXAMPLE QUESTIONS:

1. All of the following are major steps in developing new products except:

a) test marketing.
b) evaluation of competitors’ efforts.
c) screening.
d) business analysis.
e) idea generation.

2. Long-term partnerships among channel members working together to reduce inefficiencies, costs and redundancies in the entire marketing channel is called:

a) supply chain management.
b) vertical channel integration.
c) industrial management.
d) industrial distribution.
e) marketing management.

PART B – SHORT ANSWER QUESTIONS – [15%] INSTRUCTIONS: Answer all three (3) questions. Each question is worth 5 marks. Write approximately 10 to 12 lines to answers each question in the answer booklet provided. Label each question clearly (e.g. Part B – Question 2). EXAMPLE QUESTION:

Identify and explain the four layers of the total product concept (2.5 marks). Give an example by explaining the total product concept of the iPad (2.5 marks).

PART C – CASE APPLICATION - [15%]

INSTRUCTIONS: Read the short case studies below about Toyota and Cadbury. One of these case studies will appear on the final exam. Write your answers to the case study questions in the answer booklet provided. Label each question clearly (e.g. Part C – Question 1).

PART C – [15 %]

CASE PROBLEM APPLICATION – 15 MARKS – 1 CASE

Read the short case then write an answer to each of the three (3) questions.
Write one and a half (1 ½) to two (2) pages in paragraph format.

Nowadays, governments and car manufacturers are considering the environmental impacts of motor vehicles with a view to developing sustainable environmentally friendly vehicles. One answer has been the development of small low-emission fuel-efficient hybrid vehicles that use a combination of traditional combustion engines powered by fuel and electric battery power.

The Toyota Prius is one successful model that has been released globally and in Australia. The Prius has quickly become one of Australia’s favourite motor vehicles. Toyota’s ability to create a successful environmentally friendly vehicle is through a dedicated commitment to
Show More

Related Documents: Marketing and Total Product Concept Essay

Marketing: Marketing and Customer Value Essay

that the concept of marketing was originally brought up around the time when industrial revolution took place. (Elvy, 1991; Evans & Berman, 1994) However, the definitions of marketing varied from time to time. ) People still get confused by the term “marketing” nowadays thinking it is only about advertising and selling the product, however it is actually a broad term that involves not only advertisement but also many other activities for instance, market research, media planning, product pricing,…

Words 697 - Pages 3

Essay about Amity Sol Marketing Management Assignment

SECTION A ANSWER 1.. Marketing management is the analysis, planning, implementation and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives. The various management philosophies are: a. The production concept: This concept is one of the oldest philosophies that guides sellers. The first occurs when the demand for a product exceeds the supply. The second situation occurs when the product’s…

Words 5172 - Pages 21

International Marketing Ch 1 Essay

1 The Scope and Challenge of International Marketing Discussion Questions |1. |Define: | | | |International marketing |Foreign uncontrollables | | |Controllable elements |Marketing relativism…

Words 1690 - Pages 7

Marketing and Customer Essay

Exam Review: One What is marketing: Marketing is managing profitable customer relationship. The twofold goal of marketing is to attract new customer by promising superior value and to keep and grow current customers by delivering satisfaction. Marketing is the process by which companies create value for customer and build strong customer relationship in order to capture value from customer in return. The Marketing Process 1) Understand the marketplace and customer needs and wants.…

Words 824 - Pages 4

True Earth Case Study Essay

MARKET RESEARCH 2 2.3 TRUEARTH PROFILE 3 3. MARKET OPPORTUNITY 3 4.PRODUCT DEVELOPNMENT 5 5. FORECASTING PIZZA SALES 6 5.1. STEP 1/ESTIMATE THE TRIAL VOLUME 6 5.2: STEP 2/ESTIMATE THE REPEAT PURCHASE VOLUME 7 5.3: STEP 3/ESTIMATE THE TOTAL PURCHASE VOLUME 8 6. CONSUMERS’ VIEW OF REFRIGERATED PIZZA COMPARED TO OTHER SUBSTITUTES 9 6.1 IMPACT OF TRUEARTH PIZZA ON OTHER CHOICES 10 7. COMPARISON BETWEEN PIZZA AND PASTA CONCEPT TEST RESULTS 11 8. IS THERE A FIRST-MOVER ADVANTAGE IN PIZZA SIMILAR…

Words 4539 - Pages 19

Bkad runner Essay

services through a series of operations • Operations management will directly affect competitive advantage, because it will: - Establish level of quality of the good/service - Influence overall costs of production - Determine whether sufficient products are available to satisfy consumer demand Case Study: Toyota • Utilise JIT (Just-in-time) – right parts and materials are manufactured and provided in the exact amount they are needed, and at the time they are needed • Undergoes continuous improvement…

Words 1904 - Pages 8

Essay on NPD Case 1 Write Up

Lead User research methodology. Traditional way to innovation at 3M Product development teams at 3M generally used to rely on more traditional methods to seek for marketing input. Their traditional team comprised technical individuals, who Ensure the particular product under development could be efficiently made Provided feedback about 3M’s manufacturing capabilities The way they used to gather data to gain marketing insights include 1) Sales representative interacting with physicians or registered…

Words 312 - Pages 2

Marketing: Marketing and Gathering Primary Data Essay

CHAPTER 1 Customer equity, - the total combined customer lifetime values of all of he company’s customers Customer lifetime value – the value of the entire stream of purchases a customer over a lifetime of patronage. Customer perceived value - the customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers Customer relationship management (CRM) - Managing detailed information about individual customers and carefully…

Words 1347 - Pages 6

Essay about Aramex

in the Presto menu. * Quality Products Wooden Bakery uses only the finest ingredients in their products. Their dough is made fresh throughout the day, every day of the year. * Industry Innovation Wooden Bakery continues to improve and strengthen their brand image, reputation and operating system through innovation. Their Quality and Development team is among the best in the industry, providing fresh new product ideas with a keen focus on product integrity. * Training and Consultation…

Words 6240 - Pages 25

Marketing Essay, Concepts, Theory, And Laws

Marketing Principles FALL 2012 Marketing 345 – Section 004 Instructor: Phone: E-mail: Dr. Gwen Fontenot 337-482-6136 fontenotg@louisiana.edu Class Time & Location: MW 1:00 – 2:15 p.m. – MX 103A Office: Office Hours: Moody Hall 332 9:30 a.m. – 11:00 a.m. -- M, W 9:30 a.m. – 11:00 a.m. 2:30 p.m. – 3:00 p.m. -- M, W 9:00 a.m. – 11:00 a.m. – T, R Students are advised to email the instructor to schedule appointments for meetings (even for meetings during office hours) to ensure that the instructor…

Words 3358 - Pages 14