Marketing Exam

1. Marketing Exam

2. Results • All except 1did much better than last test • Special well done for improvement to Nick – 33% improvement • Top mark 88% (Well done Eugene) • Anyone under 60% is to retake on Friday lunchtime

3. Marking L2 Application of knowledge and understanding Effective and accurate use of information from the case study and BS knowledge. 2-4 marks L1 Statement of Knowledge Straight copying of case study material Listed points 1 mark

4. What are the trends? • Slow growth – rapid growth – gradually evened out at a steady level

5. What stage of the life cycle has it reached?

6. Why has this stage been reached? (3) • Because many people have bought the product but are now bored of it so are looking for something else • The segment has become saturated meaning there is no one left to buy it • Competition has launched new product so customers are attracted to that instead

7. What is panel research? (2) • A group of people are brought together to taste/view/use a product and discuss what they like/dislike to help the company find out if it will be successful

8. Discuss the benefits and drawbacks of using questionnaires to collect survey data (6) Benefits • Quantitative (lots of people can be asked) • Find out wants/needs • Make it specific to your needs Drawbacks • People don’t answer honestly • They get thrown away • Closed questions

9. What could Brewertons do to increase the sales of their product? (6) • Promotion strategy, e.g. buy 1 get 1 free • Diversify product, e.g. bring out energy bar • Change name/logo/image to attract interest • Change packaging

10. Which market segments might the Theme Park be aimed at? (4) • Teenagers because they like day time attractions for something to do without parents • Children as it is a place that is fun to go for a party/ with parents • Families as it is a fun day out with the children

11. Discuss the factors that might influence the choice of location in the UK (7) • Space • Infrastructure • Cost • Public Transport • Road access (for deliveries/customers) • Employment levels • Competition

12. How might the opening of a theme park affect the following groups? (3) Local Residents • Pollution • Litter • Traffic congestion • Noise • Employment opportunities • Enhance local economy

13. Local Businesses • Attract more people to the area • More passing trade • New opportunities for restaurants and hotels • More facilities

14. Other theme parks in UK • Increased competition • Decrease in customers • Decrease in revenue • Need to make improvements • Need to advertise • Need to offer promotions to keep customers

15. List 2 sources of data which Nu-Ger may use in its market survey (2) • Internet research • Another company’s or competitor’s research • National Statistics (Lyam)

16. 4. Explain why Nu-Gear thinks that primary research may be more useful than secondary data (4) • Primary research is more up to date than secondary research which may have been done years ago. • It can be designed specifically for your needs as you can design the questions yourself and analyse them how you want to.

17. 5. How would brand loyalty be used by a company such as Nu-Gear? (4) • Nu-Gear can encourage customer loyalty before bringing out a new product, therefore enhancing their sales and increasing the number of customers that will want to try the new products.

18. 6. State 2 reasons why Nu-Gear would want to protect it’s trade mark (2) • So no-one else would steel their trade mark and damage their reputation • Because without it, no-one would recognise them

19. 7. Explain the difference between • Field research Primary research that you find yourself by use of a questionnaire or panel Desk Research This is secondary research that has already been completed by someone else. It is not specific to your needs but can give good background information.