MKX9550 2008 exam paper (2)

I just answered 3 questions in this paper, becuase i was lazy...and i found these questions were not related what i have learned. maybe because the textbook was changed. I guess.


1. One of the major components of a marketing plan is the external environmental analysis. Describe the major elements of this environmental analysis (10 marks). Then explain the process you go through to draw conclusions from the analysis to enable you to set meaningful strategies later in the marketing plan. (10 marks)

External environment (opportunity and threat) analysis. A business unit must monitor key macroenvironment forces and significant microenvironment actors that affect its ability to earn profit. The business unit should set up a marketing intelligence system to track trends and important developments and any related opportunities and threats.

A marketing opportunity is an area of buyer need and interest that a company has a high probability satisfying. An environmental threat is a challenge posed by an unfavourable trend or development that would lead, in the absence of defensive marketing action, to lower sales or profit. To deal with them, the company needs contingency plans.


2. In marketing, perceptions are more important than reality. People can emerge with different perceptions of the same object because of three perceptual processes. List and briefly characterize those processes (10 marks). Further, marketing scholars have developed a “stage model” of the buying decision process. List and describe the five stages of this process using examples? (10 marks)

Perception is the process by which we select, organise and interpret information inputs to create a meaningful picture of the world. The key point is that it depends not only on the physical stimuli, but also on the stimuli’s relationship to the surrounding field and on conditions within each of us. People can emerge with different perceptions of the same object because of three perceptual processes: selective attention, selective distortion and selective retention.

1. selective attention: attention is the allocation of processing capacity to some stimulus. It’s estimated that the average person may be exposed to more than 1,500 ads or brand communications per day. Because we cannot possibly attnd to all these, we screen most stimuli out- a process called selective attention. Selective attention means that marketers must work hard to attract consumers’ notice.

2. selective distortion: selective distortion is the tendency to interpret information in a way that fits our preconceptions. Consumers will often distort information to be consistent with prior brand and product beliefs and expectations.

3. selective retention. Most of us don't remember much of the information to which we’re exposed, but we do retain information that supports our attitudes and beliefs. Because of selective retention, we’re likely to remember good points about a product we like and forget good points about competing products.


1. problem recognition

2. information search

3. evaluation of alternatives

4. purchase decision

5. postpurchase behaviour

3. Most brands are adapted to some extent to reflect significant differences in consumer behaviour, brand development, competitive forces, and the legal or political environment. Identify the five international product and communication strategies available to firms (10 marks). Using a product of your choice, explain how you would communicate this product to customers in two different countries of your choice. (10 marks)


4. Satisfying different consumer needs and wants can require different marketing programs. List and describe the four cultural dimensions that differentiate countries, as identified by Hofstede. (10 marks) In addition, in an increasingly connected, highly competitive global marketplace, government officials and marketers are concerned with how attitudes and beliefs about their country affect consumer and business decision makers. What is the term for this concept and what is the position of government officials and marketers? (10 marks)


5. When a company has overseas customers it must think carefully how they price their product in the different countries. Using an example of your choice, discuss the issues a company needs to consider when and if they adapt their price for those countries. (20 marks)

6. During this semester you completed a marketing plan. Based on your marketing plan assignment explain the key parts of the marketing plan their importance (10 marks).Then discuss the importance of the Problems and Opportunities statement and how it links the two parts of the plan together. (10 marks)


7. What are the main stages in developing new products (10 marks)? Explain the issues you would need to think about when developing a new product to market overseas. Use a product of your own choice as an example. (10 marks)


8. To take your company overseas is a big decision. Using a company of your choice as an example, discuss the factors you need to consider when deciding to go overseas or not. (20 marks)