Point & Know Music App Marketing Mix Plan

Threshold expectations

In order to pass this assessment you will need to:

• Demonstrate an acceptable level of understanding of key terms and concepts in marketing

• Provide a competent analysis of a given predictable business situation and present an appropriate response in the form of a simple marketing mix plan

Multiple Choice Questions (25%). Select your answers on this booklet. Attach the booklet to your exam answer booklet at the end of the examination.  

1.According to your first lecture, the term “The Marketing Concept” refers to

a.Satisfying customer needs, precisely, in a dynamic environment

b.Satisfying customer needs, profitably, in a dynamic environment

c.Identifying customer needs, precisely, in a difficult environment

d.Meeting customer needs, profitably, in a difficult environment

2.According to the first lecture, why is marketing like an iceberg?

a.Each company or organisation is floating in the sea

b.Most marketing activity is about planning and management so not visible

c.Marketing managers need to stay calm in choppy waters

d.Marketing managers need to avoid accidents

3.A ___________ buys the product, and a _____________ uses the product

a.Buyer & customer

b.Consumer & customer

c.Buyer & consumer

d.Customer & consumer

4.According to the textbook, targeting can take one of four approaches,  undifferentiated, differentiated, concentrated and:

a.Creative

b.Diluted

c.Customised

d.Cost leadership

5.In one-to-one marketing, what is the next step after a marketer has identified customers and knows them in as much detail as possible?

a.Interact with the customers and find ways to improve cost efficiency

b.Customize some aspects of the products or services offered to each customer

c.Differentiate among these customers in terms of both their needs and their value to the company

d.Implement a mass customisation program

6.Any direct interface between customers and a company–whether it is online, in-person, or over the phone–is called a ________.

a.Touchpoint

b.Share of customer

c.Customer target

d.Data point

7.The consumer Decision Making Unit (DMU) consists of:

a.Buyer, Expert, User, Decider, Advisor

b.User, Influencer, Buyer, Initiator, Decider

c.Influencer, Dependent, Decider, Engager, Buyer

d.None of the above

8.Charles Revson of Revlon is reputed to have observed: “In the factory, we make lipstick; in the store, ________.”

a.we make profits

b.we sell quality

c.we sell hope

d.we create ads

9.Buy one get one free is an example of

a.Public relations

b.Advertising

c.Sales promotion

d.Personal selling

10.According to the lecture on pricing, charging £4.99 for an item is an example of

a.Customer value pricing

b.Cost plus pricing

c.Psychological pricing

d.Going rate pricing

11.When using ________, a consumer exerts little effort in making a purchase decision.

a.Extended problem solving

b.Habitual decision making

c.Independent heuristic rating

d.Limited problem solving

You have developed a live music Point & Know app for the New York tourist market. Tourists visiting New York can use the app to find nearby gigs in a variety of genres.

Your task is to provide your detailed marketing mix plans for the app, justified though a clearly identified target market, launching into the market of your choice. You should include a Gantt chart covering a five month period as part of your submission.

Notes:

·The costs of developing the app can be considered to be sunk and therefore do not need to be accounted for.

·You may wish to include other features within your app.

·You need to choose whether you will make the app free, funded by advertising, or whether you will charge users.

·You will need to brand your app.

·You should consider all forms of competition, and how your app will compete.

·See the information overleaf on how your case study response will be marked