Final Exam Review
MARK1120 Introductory
Marketing
1
This study source was downloaded by 100000863164195 from CourseHero.com on 12-11-2023 23:52:06 GMT -06:00
https://www.coursehero.com/file/180605624/Final-Exam-Review-MARK1120-009-Fall-2022docx/
Fall 2022
Final Exam Details

Monday, 12 December 2022

Starts @ 12-3 pm (PT) (3 hours) - timed

Final Exam available on our class BlackBoard site in the “Exams” folder

Written in AOT 910/911 – bring your laptops and chargers to the exam.

You will be allowed to bring one Study Sheet to our Final Exam. Your name and
student number must be written in the top right corner, and it must be letter size
(8.5” x 11”). You can hand write on both sides of the paper (only handwriting, no
printing). You cannot share your study sheet with other students, and it needs to
be handed in with your exam.

All questions are randomized, so no student will receive the same ones. If you
finish the final exam before the 3 hours, please click on "submit" and you are
allowed to leave.

All textbook chapters are included (yet focus on the case study question topics
provided on the next page).
2
This study source was downloaded by 100000863164195 from CourseHero.com on 12-11-2023 23:52:06 GMT -06:00
https://www.coursehero.com/file/180605624/Final-Exam-Review-MARK1120-009-Fall-2022docx/

20 MC Qs and True or False Qs (40 minutes - 2 minutes per question)

There are 4 short-answer questions relating to a case (case provided to students
24 hours in advance of exam start time) out of which you must answer 3 (120
minutes - 40 minutes per question).
o 1 short-answer question is mandatory for all students.
o Then, choose 2 out of the 3 remaining short-answer Qs.

MC Qs and True or False Qs (40%) - 3 short-answer Qs (60%) = 100%

Use bullet points in your answers.

Final Exam is worth 20% of your overall course grade.
Test Taking Strategies

Look at the relative value of each question and allocate your time accordingly.

Read the questions carefully and follow all instructions provided.

Use point form to answer the questions but use full sentences (like what I am doing
here right now).

Be as prepared as possible to be confident and calm.

When studying and preparing, think up some examples demonstrating key
concepts now rather than waiting until the exam questions

Read all the relevant sections in the text. Read with understanding rather than
memorizing. Most of the terms make sense if you understand their meaning – i.e.,
“Shopping Product.”
Case Study Question Topics

Segmenting, Targeting & Positioning (Ch 6)
o Market Segmentation Variable Categories (geo, demo, behavo, psycho)

Applying the Marketing Mix (Ch 7)
o 5 Ps and 5 Cs framework
o Integrating the extended marketing mix

Delivering Products and Brands that meet Customer Needs (Ch 8)
o Types of consumer products (convenience, shopping, specialty, unsought)
o Products are “benefit delivery systems”
o Features - benefits
o Products are total market offerings
3
This study source was downloaded by 100000863164195 from CourseHero.com on 12-11-2023 23:52:06 GMT -06:00
https://www.coursehero.com/file/180605624/Final-Exam-Review-MARK1120-009-Fall-2022docx/
o Difference between services and goods
o The goods and services continuum
o Innovative new products
o Diffusion of innovation adopter categories
o The product life cycle (PLC) – development, introduction, growth, maturity,
decline
o Variations in the product life cycle
o Brand partnerships through co-brands

Place Decisions and Customer Convenience (Ch 9)
o Industrial supply chain and retail supply chain
o Reverse supply chain
o Distribution intensities
o Retailer fit
o Push versus pull strategy

Managing Price and Customer Cost Perception (Ch 10)
o Influences on price setting: primary factors
o Pricing Strategies
o Break-even calculation
o The 6-step pricing process
o Legal aspects in pricing (negative pricing practices)

Using promotion to Communicate with Customers (Ch 11)
o 6 Promotion mix tools
o Integrated marketing communications (IMC)
o Setting promotion objectives (hierarchy of effects model)
o Promotional budget-setting methods
o Types of advertising
o Media strategy in advertising
o Media selection
o Consumer sales promotion tools
o Direct marketing vs. direct response marketing

Encouraging Participation to Connect with Customers (Ch 12)
o Digital Marketing, digital media, digital media tools
4
This study source was downloaded by 100000863164195 from CourseHero.com on 12-11-2023 23:52:06 GMT -06:00
https://www.coursehero.com/file/180605624/Final-Exam-Review-MARK1120-009-Fall-2022docx/
o 3 components of customer connections
o Social proof - online reviews: the new word-of-mouth
o Poly-synchronous consumption and omnichannel marketing
o Lifestyle brands
o Brand communities
o Social media
o Trends in social media
o
5
This study source was downloaded by 100000863164195 from CourseHero.com on 12-11-2023 23:52:06 GMT -06:00
https://www.coursehero.com/file/180605624/Final-Exam-Review-MARK1120-009-Fall-2022docx/
Mock Case for Practicing
Vello Cycle Company – A Marketing Challenge
Canadian bikes on the move! You’ll see the bicycles from Vello Cycle Racing in the Tour
de France race, as well as pedaling leisurely around city bike trails. The company’s
products have been selected as the bike of choice for top-ranked international bike
racing teams. For a young company that started in Vancouver just a few years ago, that
is quite a feat!
Matthew Larson and Chris Ricard founded Vello in 2018, just after they graduated from
UBC with their engineering degrees. Their major engineering project was to design a
revolutionary bicycle, one that would be customizable for dedicated riders, and at the
same time would have unbeatable aerodynamics for racing – it was an idea that they
were sure could be commercialized. They hired a German engineer, who had worked
extensively in aerodynamics, interested two major investors, and a year later, they had
two products ready to launch. By 2021, three international racing teams were using the
“1510”, their most expensive and high-tech bike, for racing competitions.
If you ask Matthew and Chris what makes them so successful, they will tell you that it is
their customers and their athletes. Most of their customers appreciate the lightweight,
yet, very durable bike because of its top-notch handling and revolutionary level of
comfort. The athletes are the biggest promoters of the bikes and seeing the racing teams
so dedicated to the Vello products has been a major factor in their popularity. Some of
the racing teams are made up of athletes from several countries, so, thanks to them, the
word is getting around the world!
What surprised Matthew, Chris, and their growing team is the growing popularity of the
bikes in the leisure cycling market. The “7520”, the lower-end bike, is sold in a few
selected specialty bike stores around North America, at a retail price of around $2,450
Canadian. Despite its high price, recreational riders are very interested in the bikes, and
this could generate demand that is almost more than Vello can keep up with. In addition,
in the past year, Vello has seen two new competitors create products that directly
compete with the “7520”. One of these competitors is the Allez Elite bike for $1,350 and
another one is the Giant Propel Advanced Pro Disc Bike for $2,600.
6
This study source was downloaded by 100000863164195 from CourseHero.com on 12-11-2023 23:52:06 GMT -06:00
https://www.coursehero.com/file/180605624/Final-Exam-Review-MARK1120-009-Fall-2022docx/
The Vello team is very engineering oriented and have little marketing competence. They
have done no market research and virtually no promotion apart from having their own
website but no social media presence. So, they have come to you for advice on their
marketing and strategy here in Vancouver, British Columbia.
Practice Questions:
Question 1
a. How can Vello segment the consumer market using the 4 segmentation variable
categories in Vancouver for their bikes? Define ONE target market for them
using each segmentation variable categories. Name the variable categories (4
marks) and then apply 2 variables for each (4 marks). Come up with a name for
them (1 mark) that reflect the variable categories. Be specific!
Outdoor bike enthusiasts/casual mountain bikers
Geographic (1 mark): Vancouver, B.C., Canada
Demographic (1 mark): $80,000 and up, mainly male, 25 – 35 years old
Behaviouristics (1 mark): every weekend, reliability/durability…
Psychographics (1 mark): Riding trails with bikes (cycling)…
Question 2
a. What Product Life Cycle stage are bicycles on as a product category? (1
mark) Justify your answer (3 marks). Maturity…
b. What Product Life Cycle stage is the “7520” on (1 mark)? Justify your answer
(3 marks). Growth…
Question 3
a. To keep up with the demand for the “7520”, Matthew and Chris are
considering moving to a larger, more modern production facility. Materials
and labour to produce the “7520” would stay the same at $450 per unit but
moving to a new facility would increase their total annual fixed costs to
$500,000. At a price of $2,450, how many bikes must be sold to break-even
(1 mark)? Show your work (4 marks).
Break Even Analysis
BEPQuantity = Fixed Cost / (Unit Price – Unit Variable Cost)
7
This study source was downloaded by 100000863164195 from CourseHero.com on 12-11-2023 23:52:06 GMT -06:00
https://www.coursehero.com/file/180605624/Final-Exam-Review-MARK1120-009-Fall-2022docx/
BEPQuantity = $500,000/($2,450-$450) = $500,000/$2,000=$500/$2=250
b. Matthew and Chris are working on a special road safety accessory for cyclists
who do a lot of riding on busy urban streets. The product is unique in the
marketplace. They have the option to implement a penetration or skimming
pricing strategy for their product.
Define each strategy (2 marks for each, total 4 marks).
What are 2 pros (4 marks) and 2 cons of each (4 marks)?
Skimming – The highest initial price that customers really desiring a product
are willing to pay
Penetration – Selecting a low initial price on a new product to appeal
immediately to the mass market
Question 4
a. What are 2 advantages (2 marks) and 2 disadvantages (2 marks) for Vello to
consider an eCommerce strategy.
Would you advise them to sell online? Why or why not (2 marks)?
b. Identify the three distribution Intensities that a company might employ as part of
their distribution strategy for their products (3 marks).
What distribution intensity is Vello applying in the leisure cycling market (1 mark)?
Explain why you believe this choice is or is not appropriate (2 marks).
Question 5
a. How does the promotion objective change over the product life cycle of this
product in general (4 marks)?
Provide an example of an objective for each stage of the “7520” (4 marks).
b.
Matthew and Chris are considering Advertising and social media as two elements
in their promotional mix.
What are one pro (2 marks) and one con (2 marks) for each tool, and do you
believe these are the right promotional mix tools (1 mark)? Explain (2 marks).
8
This study source was downloaded by 100000863164195 from CourseHero.com on 12-11-2023 23:52:06 GMT -06:00
https://www.coursehero.com/file/180605624/Final-Exam-Review-MARK1120-009-Fall-2022docx/
Powered by TCPDF (www.tcpdf.org)