Marketing Exam Preparation for Monash Diploma 2 Students

9515 WordsSep 15, 201339 Pages
Exam Preparation MCD 2050 Marketing Section A – Long Essay (4o marks) It will have a quite from Phillip Kotler – don’t even read the friggin’ quote Read the bit below the quote, it will have something like this: A. What customer value is (3.5 marks) – page 7 in the textbook B. How marketing creates and deliver values (3o marks) * Start with market research the idea of giving data about consumer behavior * Why do we need marketing research * 3 main sources of information * 3 methods of collecting data * Continue with consumer behavior * Why do we study consumer behavior (why relevant, why important) * Influences (internal, external + examples each) * Then move on to STP the idea of when we…show more content…
Advertising is often paid for, one-way (no feedback) and sponsor identified (name of company is clearly stated). It can be informative, persuasive, reminder and reinforcing. Public relation is used to create positive image of your company and can be achieved through publicity. Sales promotion is often used to get customers to buy the product now. Examples include samples, coupons, point-of-purchase promotion, contest, games, sponsoring concert and sport games. The company then needs to do planning and controlling relative to the marketing activities. Planning is the process of setting goals – proximal and distal – and developing strategic plans to give direction and standards for the marketing activities. The company needs to control the whole marketing process by measuring results, evaluate the results by comparing actual performance to goals and if there are deviances, take corrective actions to change the marketing mix. For example, if the product packaging makes the product too heavy, marketing management need to revise the packaging planning and change it accordingly. C: Section B – Long Answer Questions 1. List and explain micro/macro factors Microenvironment refers to the forces close to the organization that affect its ability to serve customers – the organization, marketing channel firms, customer markets, its competitors and publics * Marketing organization Other departments within the

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