PRELIMINARY EXAM 2011

PROGRAMME(S) :

University of London Degree and Diploma Programmes

(Lead College: London School of Economics & Political Science)

SUBJECT

DURATION

141 PRINCIPLES OF MARKETING

3 Hrs

------------------------------------------------------------------------------------------------------INSTRUCTIONS :-

DO NOT TURN OVER THIS QUESTION PAPER UNTIL YOU

ARE TOLD TO DO SO.
There are a total of eight (8) questions.
Answer only FOUR (4) questions.
Each question carries 25 marks.

Candidates are strongly advised to divide their time accordingly.

Total number of pages: THREE (including this page)

1.
a. What would you expect to be the major characteristics of a production-oriented company?
(7 marks)
b. What difficulties would you expect to meet in introducing the marketing concept to such a
company?
(10 marks)
c. What kinds of circumstances or events might encourage a company to become more marketingoriented?
(8 marks)
2.
a. Identify each of the elements that make up the microenvironment of the marketing function and
in each case explain their importance for marketing.
(13 marks)
b. Discuss the view that, in every case, the customer is always the most important element in the
microenvironment.
(12 marks)
3.
a. With respect to the definition of a product, explain using examples what is meant by each of the
following: core benefit (or core customer value); actual product; augmented product.
(10 marks)
b. Explain the importance of each of these concepts in the design of the products marketing mix.
(15 marks)
4.
You are a marketing manager for a firm about to launch a new brand of mp3 player. This is the
first time that an mp3 player will have been promoted there are no direct competitors. However
there are firms selling CD players. Identify the elements of the promotion mix you will use at
launch and explain how you will use them.
(25 marks)
5.
In marketing distribution explain what is meant by the following terms:

efficiency
adjusting the discrepancy of assortments
routinisation of transactions
postponement
(12 marks)

Critically assess the benefits to firms of using these concepts

(13 marks)
6.
a.

What are the major criticisms of marketing?

b.

Which of these do you consider the most damaging and why?

c.

Which if these do you consider the least damaging and why?

(5 marks)
(5 marks)

d.

(5 marks)
What policies or strategies can firms, consumers and/or organizations adopt to mitigate the
most damaging criticisms?
(10 marks)

7.
a.

Describe the buying decision process and the four types of buying behaviour.

b.

How does the buying process differ for new products?

(8 marks)

c.

(7 marks)
Describe a recent advertisement by a firm and identify which stage in the buying decision
process this was designed to affect
(10 marks)

8.
a.

Describe the following:

Market based transactions
Hierarchy
Recurrent exchanges
Relational exchanges
(12 marks)

b.

Under what circumstances should firms use market-based transactions?

(13 marks)

END