Marketing

Spring 2021
Final Exam

You have the full class period to complete this exam. You may have at your desk the
exam paper, your textbook, computer and any class notes. You are not allowed to access
the Internet during the exam except when you are finished and ready to email it to me.
Please choose and answer five (5) questions. Each question is worth 20 points. If you
have any questions during the exam call my cell—201-965-0712 or send a text message.

1. Five years ago your company developed a new product for a new market that has
been extremely successful to date. The market has begun to mature however, and
you as the marketing manager feel that changes need to be made in the company's
marketing mix if the product’s success is to continue. Explain: a) what changes
will probably need to be made in the marketing mix (4 Ps), b) how the allocation
of resources will need to change, and c) why these changes are necessary. (20pts)

2. The decision to be made in the Z-Corp case is a classic start-up decision: which
distribution channel should we use? Which channel do you recommend Z-Corp
develop and why? (20 pts)

3. An argument about the best way for your company to set prices has broken out
between the finance department, which wants to use cost-plus pricing to ensure
that company margins are maintained and the sales department which wants to
price relative to the competition in order to make the sales process easier. While
acknowledging the benefits of each approach, please explain to the other
managers the limitations of their pricing methods (10 pts) and why a market-
based methodology (perceived value) is best, including a description of the
process (10 pts).

4. Companies often introduce products using a low introductory price. What are the
advantages and disadvantages of this practice as they relate to customers,
competition and company? (16 pts) Even though I have excoriated you not to
ever do it, in what situation(s) might it be appropriate? (4 pts)

5. Facebook, Pinterest, Instagram, YouTube, Twitter, Weibo, Whatsapp, TikTok, and

on and on. It seems like every day another platform pops up allowing people to
create, observe, consume, and share information. And of course, traditional
media—TV, radio, magazines and newspapers are still around and still dominate
media spending. As Willy Wonka said: “So much time and so little to do. Wait a
minute. Strike that. Reverse it.” Given the reality of scarce time and resources,
please explain how you are going to choose which communication vehicles to use
when you develop your next marketing plan? (This is a process question, not
about the specifics of any one platform.) (20 pts)

6. You have been hired from your previous job as a Director of Marketing at Gucci
to be the VP of Marketing at a management consulting firm. Please compare and
contrast the development of marketing strategy and implementation of the

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 marketing mix (4Ps) now that you are selling a service instead of a product. (20
pts)

7. After successfully introducing a new product for your company into the domestic
(US) market, you have applied for a position as a marketing manager in the
international division. The vice president interviewing you has expressed
reservations regarding your lack of international experience. Please respond to
her concerns by comparing and contrasting the process you applied when
introducing the new product domestically, with what you would need to do in an
international market (16 pts). Also, explain why your lack of international
experience might not be a disadvantage when creating successful plans for
foreign markets (4 pts).

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