Exam questions

1. Some experts argue that the conventional Product Life Cycle (PLC) is not a useful marketing tool. Debate this argument.

 

2. Use the consumer buying behaviour model to evaluate the decision making process for purchasing a luxury product or service of your choice.

 

3. Discuss the importance of segmentation, targeting and positioning in marketing. Describe the characteristics of each of these processes.

 

4. Describe the internal and external influences on pricing decisions. Outline the two main pricing strategies that can be applied to new products and evaluate the pros and cons of these two pricing strategies.

 

5. Using examples to illustrate your answer, outline the key reasons why a new product might fail and what can be done to reduce the chance of failure.

 

6. Identify THREE elements of the marketing communication mix.  Compare and contrast their relative benefits and limitations using examples.