Marketing and Total Product Concept Essay

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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
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