2027 ACTUAL COMPLETE REAL EXAM QUESTIONS
AND CORRECT ANSWERS (VERIFIED ANSWERS)
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What is considered a successful campaign? - ANSWER -
Marketing campaign costs money and resources. A successful
one achieves adequate level of profit within a specified
timetable
Cite key stages of successful marketing - ANSWER --
Identifying the product/brand to be marketed -
Analyzing the current market
- Identifying the target market
- Setting the objectives of the marketing strategy
- Devising the marketing strategy (the marketing mix)
- Implementing and monitoring the marketing strategy
What are the stages of product life cycle? - ANSWER -
- Introduction
,-
Growth
- Maturity of
stabilisation
-
Decline
What is the marketing strategy for the introduction phase? -
ANSWER -- Focus
on getting product into market, gaining recognition
and reputation
- Distribution limited to a few carefully selected
channels to begin with
What is the marketing strategy for the growth stage? -
ANSWER -- Aim at
broader target market, encourage
strong growth
- Increasingly widely
distributed
What is the marketing strategy for the stabilization stage? -
ANSWER -Highlight
the difference between the product and other
competing products
,What is the marketing strategy for the decline phase? -
ANSWER -- Extend life
cycle
- Improving
product
- Update packaging, reducing price to make it more
competitive
- Seek new
markets
What is the purpose of branding? - ANSWER -- It seeks to move
a product
away from being a commodity to the extent that consumers will
want to buy that
product even if it costs more than the minimum
possible price
- E.g. Marlborough Sauvignon Blanc - Cloudy Bay
compared with others
Give one definition of brand - ANSWER -CIM (Chartered
Institute of Marketing): the set of physical attributes of a
product or service, together with the beliefs and expectations
surrounding it - a unique combination which the name or the
logo of the product or service should evoke in the mind of the
audience
List methods to create a positive brand image in the
consumer's mind - ANSWER -- Substance
- Consumer trust
, - Consumer engagement
- Brand story
- Price premium
- Longevity
- Strong brand name
Explain substance in the context of brand. Give example
- ANSWER --
Consistently deliver same level of
quality and style
- E.g. Champagne
NV
Explain consumer trust in the context of brand. Give example -
ANSWER -- Due to consistency, consumers come to trust a
brand to always give them what they want
- E.g. supermarket own-brand wine: low-involvement
consumers regularly buy favorite brand of wine in preference
to cheaper, unbranded alternative which they do not know
Explain consumer engagement in the context of brand -
ANSWER -- Consumer
have a relationship with
brand
- They feel the brand's marketing strategy is aimed
directly at them