Final

PART A (15 MARKS PER QUESTION)

Q.A1 (15 marks)

Explain the four major methods of segmenting a market: geographic, demographic, psychographic and behavioural segmentation. Marketers rarely limit their segmentation analysis to only one or a few variables. Using the Roy Morgan Values Segment of your Marketing Plan Project as an example, describe the geographic, demographic, psychographic and behavioural characteristics of this Value Segment.

Q.A2 (15 marks)

Define a “new product”. Explain the five characteristics of a new product that may affect its rate of adoption. Using the new product of your Marketing Plan Project as an example, discuss the likely adoption of this new product in your target Roy Morgan Values Segment with reference to these five characteristics: relative advantage, compatibility, complexity, divisibility and communicability.

Q.A3 (15 marks)

Companies introducing a new product can choose between two broad pricing strategies: market-skimming (or price skimming) and market-penetration pricing. Compare the differences between these two new product pricing strategies. With reference to the new product of your Marketing Plan Project, discuss and justify your recommended pricing strategy for this new product in light of the Roy Morgan Values Segment you are targeting.

PART B (10 MARKS PER QUESTION): SHORT ESSAY QUESTIONS

Q.B2 (10 marks)

Compare the selling and marketing concept, listing and discussing the key components of each philosophy.

Q.B3 (10 marks)

Outline what is meant by population diversity. Discuss with at least two examples the marketing implications of the ethnic diversity of the Australian population.

Q.B5 (10 marks)

Distinguish between commercial and personal sources of information. Briefly describe the roles of commercial and personal sources of information in the consumer buying decision process.

Q.B8 (10 marks)

The argument some put forward is that by using the internet, every...