Explain how changes in the macro-environment affect marketing decisions

SECTION A

Multiple-choice Questions

Answer ALL 20 Questions[2 points each – Total marks available: 40]

1. Market segmentation is:

a) The net contribution produced after the marketing expenses are deducted from the contribution produced.

b) A statement that shows company sales, costs of goods, expenses and profits during a given period of time.

c) The process of dividing a market into distinct groups of buyers with similar requirements.

d) None of the above.

2. The process of designing the company’s image and offering to get a distinctive place in the minds of the target market is known as:

a) Positioning

b) Targeting

c) Segmentation d) None of the above 3. The associations that are not essentially unique to the brand but may be shared with other brands are known as: a) Points-of-parityb) Points-of-differencec) Points-of-equalityd) None of the above4. Consumer behaviour can be defined as:a) Customer understanding of marketing activities b) A field of study focused on consumer activities c) A study of pricing models d) None of the above 5. Segmentation on basis of values and attitudes and behavioural patterns is an example of a) Geographic segmentationb) Psychographic segmentationc) Demographic segmentationd) Political segmentation6. Which of the following is not part of the external marketing environment?a) Politicalb) Legalc) Product d) Socio-Cultural 7. The process of collecting information about the marketing environment is called: a) Environmental managementb) Environmental scanningc) Marketing managementd) Targeting8. Which of the following is on of Porter’s five forces:a) Threat of substitutesb) Threat of political decisionsc) Threat of cultural influencesd) Threat of bankruptcy9. Which of the following would be a strength when conducting a SWOT analysis: a) Brand recognitionb) Competitor weaknessc) Low tax rated) All of the above10. A channel structure is referred to as _______ when a product goes from producer to final consumer with no intermediaries: a) Directb) Indirectc) Hybridd) None of the Above11. Which of the following is a political factor that can impact on an organisation?a) Government Policyb) Inflation ratec) Lifestyle trendsd) Innovation potential12. In marketing channels conflicts that occur at the same level are referred to as:a) Steep conflictb) Channel conflictc) Vertical conflictd) Horizontal conflict13. Which of the following is considered a facilitator in relation to marketing channels: a) Sales agentsb) Wholesalersc) Independent warehousesd) Retailers14. A disadvantage to organisation too many intermediaries in the supply chain is:a) Goal incompatibilityb) Financial considerationsc) Access to marketsd) All of the above15. Another name for an organisation’s marketing communications mix is: a) The image Mix b) The advertising program c) The sales force d) The promotional mix 16. If an organisation wants to build a good corporate image which of the following communication tools will they employ: a) Direct marketingb) Sales promotionsc) Advertisingd) Public relations17. Product quality level is considered as part of the: a) Actual product b) Augmented product c) De-augmented productd) None of the above 18. Which stage of the product life cycle is advertising, and promotion aimed at retaining existing customers and persuading customers to switch from competitors? a) Introduction b) Growthc) Maturity d) Decline 19. Price competition starts to occur at which phase of the product life cycle? a) Introduction b) Growth c) Maturityd) Decline 20. Bowman’s strategy clock is a model used in marketing to: a) The competitive position of a companyb) The pricing strategy of a company c) The perceived value of a company to customers d) None of the above

SECTION B1. Explain how changes in the macro-environment affect marketing decisions. Illustrate your answer with practical examples showing how companies can react to the marketing environment. (250 words)2. “Should marketing be concerned with ethics?” Critically evaluate the statement and give relevant examples to illustrate your argument. (250 words)3. Using a real-life marketing example, explain the three major steps which are used to design a customer value-driven marketing strategy. Your explanation must include the concepts of market segmentation, targeting and positioning. (300 words)

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