Office Use Only

Monash University
Semester Two Examination Period 2007

Faculty of Business and Economics

EXAM CODES: MKC1200

TITLE OF PAPER: Principles of Marketing

EXAM DURATION: 2 Hours writing time

READING TIME: 10 minutes

THIS PAPER IS FOR STUDENTS STUDYING AT:

† Berwick ; Clayton † Malaysia † Distributed Learning † Open
Universities
† Caulfield † Gippsland † Peninsula † Enhancement Studies † South Africa
† Pharmacy † Other (specify)

During an exam, you must not have in your possession, a book, notes, paper, calculator, pencil case, mobile
phone or other material/item which has not been authorised for the exam or specifically permitted as noted
below. Any material or item on your desk, chair or person will be deemed to be in your possession. You are
reminded that possession of unauthorised materials in an exam is a discipline offence under Monash Statute
4.1.

AUTHORISED MATERIALS

CALCULATORS † YES ; NO

OPEN BOOK † YES ; NO

SPECIFICALLY PERMITTED ITEMS † YES ; NO

INSTRUCTIONS TO CANDIDATES

1. The exam is worth 50% of the overall assessment.

2. This examination is marked out of 100.
3. You must pass the exam in order to pass the unit.
4. There are a total of nine questions and two sections in this exam.
5. Section A contains three compulsory questions and is worth 60 marks
6. Section B contains six questions (you must choose four) and is worth 40 marks.

This exam is for practice purposes the exam format has changed so the 2009
exam will not be the same
Page 1 of 8
Section A – Short Essay Questions (60 Marks).

You must answer each of the following three questions. All questions in this section are equally
weighted.

Question One

The microenvironment consists of “the forces close to the organisation that affect its ability to
serve its customers” (Kotler et. al. 2007 pg 162).

Draw and label a diagram of the microenvironment. Use an example to illustrate how the forces in
the microenvironment affect the organisations ability to serve its customers.

Question Two

Consider the following core concepts of marketing:

Markets, needs and wants, products, exchange, value.
Define each of these terms and explain the relationships between them using an example to
illustrate your answer.

Question Three

Define the term ‘brand’. Explain how a brand can affect the following five elements of customer
delivered value Customer delivered
value
• product value
• image value Total customer value Total customer cost
• time cost
• monetary cost Monetary cost
Product value
• psychic cost.

Services value Time cost

Personnel value Energy cost

Image value Psychic cost

This exam is for practice purposes the exam format has changed so the 2009
exam will not be the same
Page 2 of 3
Section B – Short Answer Questions (40 Marks)

You must answer four of the following six questions. All questions in this section are equally
weighted.

Question Four

Briefly describe each of the following

a. Price elasticity

b. Market skimming pricing

c. Value-based pricing

d. Price floor

Question Five

List and briefly describe the four differences between goods and services. For any two of the
differences outline the marketing implications of the difference.

Question Six

Draw and label the complete Marketing Information System.

Question Seven

List and describe any five factors that influence a buyers’ behaviour.

Question Eight

“Members of the marketing channel move products from producers, importers, aggregators among
others, to end-consumers.” (Kotler et. al, 2007 p. 546)

List and briefly describe any four of the functions that members of a marketing channel perform.

Question Nine
What are the three broad types of communications objectives? Give two specific examples for each
objective.
This exam is for practice purposes the exam format has changed so the 2009
exam will not be the same
Page 3 of 3