1. Marketing MTEXAM 22010 Answers

2. Q1: What is the role of Marketing in a company? (3Points) Understand the customer, the target market Understand the competition Support the sales function Create shareholder value Determine what products a company can sell Providing customer value 2

3. Q2: What do we mean when we use the term “Marketing Concept”? (2Points) A view from the perspective that we will offer to a given target audience what we can profitably sell using a clearly defined set of actions. 3

4. Q3: What is the “Marketing Mix?” (1Point) Marketing deals with Products, Distribution, Pricing, and Promotion directed at a particular target audience. Together these elements form the Marketing Mix. 4

5. Q4: What is “relationship marketing?” (2Points) Establishing a long-term relationship with a buyer that is mutually beneficial. Often the term “CRM” is used to describe this marketing process. 5

6. Q5: What are the contents of a marketing plan? (3Points) Executive summary Current situation (SWOT) and trends Performance review (for an existing good or service only) Key issues Objectives Marketing strategy Action plans Projected profit-and-loss statement Controls Contingency plans 6

7. Q6: What is a SWOT Analysis? (1Points) An assessment of the company’s Strengths, Weaknesses, Opportunities, and Threats. 7

8. Q7: What are the characteristics of E-Marketing? (3Points) Addressability Interactivity Memory Control Accessibility Digitization 8

9. Q8: Select (T) for True statements and (F) for the False ones: (5Points) T / FStatementNo. TAddressability means the Ability to identify customers before they make a purchase.. 1 FWith Distribution Issues, efficiencies reduced. 2 TControl means the Ability of customers/prospects to determine their information absorption – amount, rate, sequence.. 3 TAttracting and retaining prospect’s attention much more difficult. 4 9

10. Q8: Select (T) for True statements and (F) for the False ones: (5Points) T / FStatementNo. F B2B increases uncertainties. 5 T In product issues, Brand recognition will be more important in marketing of services on the internet. 6 T In product issues, Customized products with highly competitive pricing also should “win” on the internet. 7 F In product issues, Customized products with low competitive pricing also should “win” on the internet. 8 10

11. Q8: Select (T) for True statements and (F) for the False ones: (5Points) T / FStatementNo. T With distribution Issues, Better supply chain management and relationships. (T) 9 F With distribution Issues, higher distribution costs lead to better Profitability. (F) 10 11