MNM2605 EXAM PACK 2022

MNM2605 EXAM PACK 2022. To stay in the market organisations need to consider developing trends that will influence consumer behaviour. Explain any four developing trends (2 marks each = 8 marks) and provide an example for each trend. (1 mark each = 4 marks). 1. Green marketing: This is where companies focus on producing more environment friendly products and market their products as well as their company as an environmentally friendly company. 2. Cause related marketing: this is where companies donate to a specific cause by either spending a % of the customers spending on a good cause or spending some of its own revenue towards a good cause. 3. Gender based marketing: This is where companies can segement a market into gender and focus their marketing campaigns on the specific gender chosen, 4. Black diamonds: Describe four (4) individual factors that will influence the consumer’s decision whether she will purchase Will’s products or not. Provide a practical example of each factor (1 mark per individual factor = 4 marks and 1 mark per example = 4 marks) 1. Motivation: the driving force within a person that pushes you to act 2. Perception: entire process of when and individual becomes aware of his environment and interprets it in such a way that it would fit in his own frame. 3. Personality : the psychological characteristics that determines and reflects how a person responds to an environment 4. Attitude : the way people behave consistently in a good and bad way to market related objects or events 5. Learning: process whereby consumers gets to understand and learn what the product or service does Explain the ABC model of attitudes to the marketing manager of a company of your choice by discussing its three (3) components (2 marks per component = 6 marks) and give an example for any two (2) components (2 marks) A = Affecttive component( feelings or emotions) This component involves emotion and feelings about a product or store. Example… coffee x is overpriced. B = Behavior component ( actions) Represent the outcome of the cognitive and affective components - Buys or not to buy, C = Cognition (beliefs) Customers knowledge or total belief about a product or store represents the cognitive component of the consumers attitude Explain to the CEO of your choice that there are various types of online users by discussing any four (4) types of these online users (2 marks per type = 8 marks). 1. Focused information seekers Consumers who know exactly what they want 2. Unfocused information seekers Consumers who are just browsing the internet 3. Direct buyers Consumers who knows exactly what to buy and what they are prepared to pay 4. Bargain hunters Consumers who are actually looking for a good bargain. 5. Entertainment seekers Downloaded by: caronessam | Distribution of this document is illegal S - The study-notes marketplace Consumers who take pleasure in the time they spend online surfing the internet. What is the web The web is essentially a way of viewing and organising the information that Is being sent across the internet Discuss the 3 main functions of the web 1. Communication function The web enables cheaper, faster and more effective communication between organisations and their customers 2. An information fuction The web enables organisations to gather information about customers including their profiles, online behaviour , wants and needs 3. A business function The web can be used as a marketing tool that is used by companies to advertise poducts . There are four (4) major functions that attitudes perform. Identify and discuss each function of attitudes and provide an example of each function. (2 marks per function = 8 marks and 1 mark per example = 4 marks). 1. Utilitarian function- people will make their feelings knows and would generally have more positive attitudes towards products they are satisfied with. 2. Ego – defensive function: most people would want to protect themselves from truth about themselves; Marketers recognise this function and advertise Eg: anti- aging cream that makes you look younger. 3. Value expressive function: refers to how people express their central values to others. 4. Knowledge function: attitudes is one of the main contributors to a person’s understanding of the environment, and can be a means of placing the environment into perspective Discuss any four (4) types of reference groups that a consumer can refer to in helping her with this buying decision and provide an example of each type of reference group. (1 mark per reference group discussion = 4 marks and 1 mark per example = 4 marks) 1. Formal reference group eg, work people or dance class 2. Informal reference group eg , family and friends 3. Primary reference groups eg,people in the same class at school and whom you have contact with daily 4. Secondary reference groups- a group in another country that we don’t meet face to face but can still influence your buying patterns 5. Membership and non membership reference group, membership of a church or club, and then non membership would be people that still model their behaviour on that if a the member of the club or church 6. Aspirational reference group- eg a group that you aspire to be part of , like a graduate at unisa 7. Dissociative reference group, these are groups that you avoid eg smokers group. S - The study-notes marketplace Downloaded by: caronessam | Distribution of this document is illegal S - The study-notes marketplace Discuss the characteristics of personality. 1. Personality reflects individual differences There are a large number of people who has the same personality traits, this allows the marketer to group people by personality traits, example some people are sociable and some are not sociable 2. Personality is consistent and long lasting 3. Personality is conceived of as a whole representing itself in an environment 4. Personality can change There are four (4) personality theories which have played a prominent role in the study of the relationship between consumer behaviour and personality. Discuss these four personality theories (2 marks per theory = 8 marks). 1. Freud’s psychoanalytic theory Unconscious motives and repressed needs resulting in a non- practical approach to personality 2. Neo-Freudian theory Social relationships are fundamental to the formation of personality 3. Trait theory Personality is composed of a set of traits described by the general response to predispositions 4. Gestalt theory Personality is an outcome of introducing a person to a total environment There are four (4) dominant types of households. Identify and discuss each type. (1 mark per type = 4 marks) 1. The one person household consist of one independent person’ 2. The nuclear household consist of a married couple with or without kids 3. The extended household is the nuclear household plus relatives such as granparents, uncles , aunties,cousins etc. 4. The single parent household consist of one parent and atleast 1 child. Discuss the five (5) stages of the traditional household life cycle and indicate and motivate the stage in which Rafael and Sara are based on the case study. (2 marks per stage = 10 marks and 2 marks for the motivation) 1. Bachelorhood 2. Honeymooners 3. Parenthood 4. Post parenthood 5. Dissolution S - The study-notes marketplace Downloaded by: caronessam | Distribution of this document is illegal S - The study-notes marketplace Consumers tend to recognise three (3) different types of brands. Name and discuss each type of brand and provide an example of any two (2) types of brands. (2 marks per brand = 6 marks and 1 mark for two examples = 2 marks) 1. Manufacture brands- like SONY or Samsung 2. Store brands like PnP no name, or dischem own brands 3. Generic brands – a copy of the original and usually sold at competitive pricing. There are three (3) strategies that companies need to consider when selecting a target market. Discuss each strategy (2 marks per strategy = 6 marks) and provide an example for each strategy. (1 mark per example = 3 marks) There are usually three (3) roles that a customer can fulfil during a transaction. Discuss the three (3) roles and provide an example containing all three roles. (3 marks will be awarded for the theory and 1 mark for the example). 1. Selector 2. Payer 3. User Explain to the CEO of your favorite the five (5) steps of the consumer decision-making process in detail (2 marks per step = 10 marks) and in sequence (you will be awarded 1 extra mark if the steps are discussed in the correct sequence). 1. Problem recognition The individual recognized a need that he wants to satisfy example, I am hungry 2. Search for information The person would search for information about a possible solution ( chicken licken or Burger from Mr delivery) 3. Evaluation of alternatives The person assesses or evaluates the alternatives using the information he has at hand, together with his experience to try and make a decision. (buy from Mr delivery then I don’t need to drive) 4. Buying The person buys the product chosen 5. Post buying evaluation The person uses the product and evaluates if the product has satisfied the initial problem or need. Discuss the four (4) types of post-buying evaluation responses that a consumer can experience after purchasing a product. (2 marks per response = 8 marks) 1. Post buying satisfaction 2. Post buying dissatisfaction 3. Neutral assessment We offer online tutoring, help with assignments and essay writing for all Majors with a guaranteed pass. For assistance Contact Tutor Lucas: