Exam-style Questions: Marketing

1. a) Why do well established companies, such as Coca Cola and McDonalds advertise?

b) Briefly outline a media mix which might be suitable as part of the promotion policy for a school or college

(Marks available: 10)

Answer

Answer outline and marking scheme for question: 1

Give yourself marks for mentioning any of the points below:

a) Coca Cola and McDonalds advertise in order to retain brand loyalty and re-buy, maintain market share, update the brand image in order to attract young customers.

(5 marks)

b) The media mix is the combination of media for publicity purposes. Schools and colleges may use local press, cinema and local radio advertising, their own publications, open evenings, feeder school visits, internet.
Local and national TV is expensive and reaches too wide an audience.

(5 marks)

(Marks available: 10)

2. a) Why do marketing managers use the official socio-economic classification of the population i.e. A,B,C1,C2,D and E.

(5 marks)

b) Two new socio-economic groupings have been identified which make up 15 per cent of UK households. They are defined as:

'Silkies are single ladies on high income defined as £25,000 a year or more with kids up to 15 years old. They are classically time-poor, money rich, and have an expensive lifestyle with childcare and associated costs.
Slinkies are also on high income. There are no kids. Slinkies are clever, ambitious and status conscious.'

(Source: Financial Times)

How might such new groupings affect marketing strategy?

(5 marks)

(Marks available: 10)

Answer

Answer outline and marking scheme for question: 2

a) To enable segmentation of the market, so that the marketing is more effective in that marketing is targeted at a specific audience.

(5 marks)

b) New groupings means that the marketing strategy of price, product place and promotion will have to be changed to meet the changing market.

(5 marks)

(Marks available: 10)