Review Lecture

Revision and Exam Preparation

 Learning Objectives of Topic 1

1. Discuss what is marketing?

2. Outline the concepts of needs, wants and demands,

3. Discuss what is exchange? and conditions of exchange,

4. Understand types of exchange and its application to marketing.

 Learning Objectives of Topic 2

1. Discuss the importance of the elements of the marketing

organization’s micro-environment, including the marketing
organization, marketing intermediaries, customers,
competitors and publics.

2. Understand the broad concept of the organization’s

macro-environment

3. Outline the key changes occurring in the organization’s

macro-environment, including shifts in the demographic,
economic, technological, political, cultural and natural
environments.
Learning Objectives of Topic 3
1. Why is planning important,

2. Type of planning at different levels.

3. To explain marketing’s role in the organization as it is defined

by the overall strategic plan.

4. List and describe the components of a ‘marketing plan’.

Learning Objectives of Topic 4

1. What is marketing research?

2. Outline the marketing research process, including

1. defining the problem and research objectives and
2. developing the research plan,
3. planning primary data collection,
4. planning secondary data collection

3. Discuss the key issues of:

1. presenting the research plan
2. implementing the research plan and interpreting
3. reporting the findings
 Learning Objectives of Topic 5
1. What is a consumer market?

2. Understand the model of consumer behaviour

3. Explain the buyer decision process and discuss need

recognition, information search, evaluation of alternatives,
the purchase decision and post-purchase behaviour.

4. Identify and define the consumer buying roles of initiator,

influencer, decider, buyer and user.
 Learning Objectives of Topic 6

1. Define ‘market segmentation’, ‘market targeting’ and ‘market

positioning’.

2. Explain the bases on which markets may be segmented.

3. What is market targeting.

4. Understand ‘market positioning’.

 Learning Objectives of Topic 7
1. Explain what is meant in marketing by the term ‘product’.

2. Understand the 3 levels of product

3. What is a service?

4. Evaluate the product life-cycle theory

5. Detailing the extent to which you accept the sequence of

the introduction, growth, maturity and decline stages.
 Learning Objectives of Topic 8

1. What is price?

2. To explain the importance of price in the marketing mix

3. Discuss how costs and other company factors affect

pricing decisions

4. Discuss market structureWhat is Demand and Demand

curve?
 Learning Objectives of Topic 9
1. What is place?

2. List and explain the variables covered by the term ‘place’ in

the marketing mix

3. Describe the nature of marketing channels, and explain why

marketing intermediaries are used

4. Explain the reasons for the use of ‘marketing channels’ and

the levels of channels

5. Discuss distribution strategies

6. Discuss retailers
 Learning Objectives of Topic 10

1. Define marketing communications.

2. Discuss the concept of IMC, describing the major promotion

(communication) tools and their unique characteristics.

3. Explain integrated marketing communication tools

4. Describe and explain the five major promotional tools

 Examination Format

• 2 hour closed book examination

• 20 Multiple-choice questions = 40 marks (2 marks each)
• 1 Short Answer question = 20 marks
• 1 Long Answer question = 40 marks

Total =100 marks

 Time Management

- MCQ – 20 questions at 1.5 min each (30 mins)

- Short answer question (30 mins)
- Long essay question (60 mins)

You have plenty of time! Use it wisely

Examination
• Everything in the exam has been covered/
discussed in class
• Each week you have been presented with learning
objectives:
• You should be able to discuss your understanding of these learning
objectives
• You should be able to communicate your knowledge and
understanding clearly
• Show me what you know!
Exam and Revision Tips
• Section A - MCQ’s
- 4 Ps (marketing mix)
- PLC
- Buyer behavior process
- STP
- Macro/micro environment
- Marketing Research
• Section B & C focus (one question each):
- Place strategies
- Marketing Mix
Examination Techniques
• Look for key words
• “Discuss”
• Examine, analyse carefully, and give reasons for and against. Be
complete, and give details.
• “Explain”
• Clarify, interpret and spell out the material you present.
• “Provide an Example”
• You get marks for providing examples
Common Pitfalls
• Poor time management –leaving out questions/not fully
answering
• Not reading questions thoroughly, especially mcq
• Answers lack structure
• Too descriptive, lacks creativity and depth
• Lack of examples to prove your point
• Lack of definitions