Marketing Concepts and Practices Assignment - University X

This assignment covers fundamental marketing concepts. The solution addresses relational marketing, emphasizing customer retention over short-term transactions. It explores brand differentiation, the consumer decision-making process (including cognitive dissonance), and various research methodologies like probability sampling. The solution also examines distribution channels, pricing strategies (including penetration pricing), and the use of qualitative data. Furthermore, it addresses market segmentation, Porter's Five Forces, and the elements of the marketing communications mix. Finally, it differentiates between primary and secondary data sources and how they are utilized.

Which of these is a feature of Relational Marketing, rather than transactional marketing?
a) Short timescale
b) Limited customer contact
c) Focus on customer retention
d) Little emphasis on customer service.
The defining characteristics of a brand and its uniqueness from competitors is called______?
a) Distinction
b) Diversification
c) Differentiation
d) Dissocation
Which promotional strategy requires sales people to move product down through channel
intermediaries to the consumer?
a) Standardisation strategy
b) Pull strategy
c) Diversification strategy
d) Push strategy
At which stage of the consumer decision making process is Cognitive Dissonance (Festinger,
1957) most likely to be a problem?
a) Need recognition
b) Problem recognition
c) Information search
d) Evaluation of alternatives
e) Post-purchase evaluation
Which of these is a feature of Relational Marketing, rather than transactional marketing?
a) Short timescale
b) Limited customer contact
c) Focus on customer retention
d) Little emphasis on customer service
When undertaking market research, which one of these approaches is a type of probability
sampling?
a) Convenience sampling
b) Judgment (or purposive) sampling
c) Simple random sampling
d) Snowball sampling
Television advertising is generally considered better than personal selling against which of
these criteria?
a) Total cost
b) Credibility
c) Personalisation
d) Reach

Which of these is a typical “downstream” supply chain structure?
a) Component manufacturer > component assembler > producer > consumer
b) Producer > wholesales > retailer > consumer
c) Raw materials > Producer > retailer > consumer
d) Raw materials > component manufacturer > Producer > consumer
An insurance broker is an example of which sort of channel intermediary?
a) A wholesaler
b) An agent
c) A distributor
d) A manufacturer
Which of these describes penetration pricing?
a) Setting lower rather than higher prices in order to increase market share
b) Using pricing to add to the prestige of the product or service.
c) Targeting Early Adopters with higher pricing
d) Attempting to recoup Research and Development investment as quickly as possible.
Which of these describe qualitative data?
a) It is only used to research high quality brands like BMW or apple.
b) It focuses on wealthier consumers
c) It focuses on numerical data from larger samples
d) It focuses on verbal data from smaller samples.
Which of these describes market segmentation?
a) Dividing products into distinct groups
b) Dividing customers into distinct groups
c) Dividing competitors into distinct groups.
d) Dividing retail outlets into distinct groups.
What is Porter’s (1979) Five Forces of Competition?
a) New customers, substitutes, bargaining powers of buyers, bargaining power of
suppliers, existing market rivalry.
b) New entrants, new markets, bargaining power of buyers, bargaining power of
suppliers, existing market rivalry.
c) New entrants, substitutes, bargaining power of buyers, bargaining power of
suppliers, existing market rivalry
d) New customers, new markets, bargaining power of buyers, bargaining power of
suppliers, existing market rivalry.
Which of these contain only elements of the Marketing Communications Mix (sometimes
called the promotion mix)
a) Personal Selling, Marketing Agencies, Franchising, Direct, Marketing, Public
Relations.
b) Personal Selling, Public Relations, Advertising, Sales Promotion, Direct Marketing.
c) Franchising, Public Relations, Stakeholder Management, Sales Promotion, Personal
Selling.

d) Personal Selling, Marketing Agencies, Advertising, Direct Marketing, Public Relations.
Which of these are all sources of secondary data?
a) Sales records, stock levels, observation, questionnaires.
b) Invoices, observation, questionnaires, previous research reports.
c) Stock levels, sales records, invoices, previous research reports.
d) Observation, questionnaires, interviews, stock levels.