Tutorial:  Practice Questions

LESSON ONE: May 6

  1. What does the term marketing means?
  2. Today, marketing must be understood not in the old sense of making a sale — “telling and selling”—but in the new sense of satisfying customer
    needs.  Explain.
  3. How does marketing meets the most basic concept underlying marketing- human wants and needs (physical, social and individual) and the other  
    'core concepts of marketing'.  Following are the core concepts of marketing discuss each by its usefulness to marketing.
    i)   Human wants and needs  (physical, social and individual), and demands
    ii)  Products and Services
    iii) Value, satisfaction, and quality (TQM)
    iv) Exchange, Transactions, and Relationships
    v)  Markets
    4. There are certain factors that can influence the marketing process directly or indirectly termed as, “actors and forces in marketing system”.  
    Explain these seven (7) actors and forces in the marketing system: Company or Marketing Organization; Suppliers; Marketing Intermediaries;
    Customers;Competitors; Publics;macro environmental factors.
    5.  Explain the Ten (10) Marketing Functions: buying, selling, transporting, storing, standardising and grading, financing, risk taking,
    Marketing Research, Marketing Management (demand management and building profitable customer relationships), and
    Customer Relationship Marketing.
    6. Define the terms 'Marketing Management' and 'Demarketing'.

    Academic Writing/Essay:  450 Words.  Marketing Strategy : Customer Orientation Vs Competitor Orientation
    There are three components of market orientation (1) Customer Orientation (2) Competitor Orientation (3) Inter-functional coordination.
    a) Provide a comparative view of each strategy.
    b) Select a firm and one suitable marketing strategy and explain how you could successfully implement the strategy.


LESSON TWO:  May 7

  1. Explain the Importance of Internal Marketing and External Marketing.
  2. Provide a historical perspective of marketing i.e., how has marketing evolved? Discuss the;
    i.  Changes in Consumer Behavior
    ii.  End of the Mass Market
    iii. Five (5) Marketing Management Philosophies/Concepts: The Production Concept, The Product Concept, The Sales Concept, The Marketing
    Concept, The Societal Marketing Concept
    iv. Evolving Views of Marketing’s Role
     3. Marketing is facing different challenges in the 21st century. These are  6 major marketing challenges given below ;
    (1) Michael Porter's 5 Forces Model of Competition: threat of new entrants, bargaining power of buyers, seller's, substitute products, bargaining
    power of sellers, Rivalry among competing firms in the industry); (2) Technology,  (3) Globalisation,  (4) Changing World Economy;  (5) The Call for
    More Ethics and Social Responsibility: high prices, high cost of distribution, High advertising and promotion costs, Excessive middlemen gross profit
    margins, deceptive practices, high-pressure selling, unsafe products, product development; (6) The New Marketing Landscape: evolving marketing
    management philosophies/concepts.

    3 (a) Explain the challenges in marketing today.
    3 (b) Discuss the importance of new or existing businesses to plan for these challenges.

    Academic Writing/Essay: 450 Words
    4. Provide a Critical analysis of The age of Social Transformation by Peter Drucker


LESSON THREE: May 8

  1. There are Four (4) Steps in Marketing Process. The marketing process is (1) the process of analyzing market opportunities (2)Selecting Target
    Markets, (3) Developing the Marketing Mix, & (4) Managing the Marketing Effort.
    Explain the relevance of each step in the marketing process.
     2. Neil Borden in the year 1953 introduced the term Marketing mix, an extension of the work done by one of his associates James Culliton in 1948.  
    Identify a business and apply each of the 4 P's of the marketing mix (product, price, place, promotion).
     3. Explain what is meant by the term the extended marketing mix in relation to the said business (people, process, physical evidence).
    Four C’s of Marketing Mix: Now a days, organizations treat their customers like kings. In the current scenario, the four C’s has thus replaced the
    four P’s of marketing making it a more customer oriented model. Koichi Shimizu in the year 1973 proposed a four C’s classification; Commodity,
    (Replaces Products), Cost - (Replaces Price), Channel (replaces Place), and Communication - (Replaces Promotion).   Robert F. Lauterborn gave a
    modernized version of the four C’s model in the year 1993. According to him the four C’s of marketing are:  Consumer, Cost, Convenience, and
    Communication.
    3 (a) Is there merit in replacing the 4 P's for the 4 C's.  If yes or no, please explain your stance.
    3 (b) Do a comparative analysis of Shimizu's 4 C's and Lauterborn's own 4 C's.  Which  of the two perspectives is more relevant to match 21st
    Century marketing needs. Discuss.


LESSON FOUR: May 13 uploading.......
UNIT 4: Principles of Marketing
Colbourne College