MNM3036/201 8 The correct answer to this problem is option 4. The experience curve is explained in section 11.1.4 in the study guide. The method of experience curve pricing is based on the learning-and-scale effect, which means that the unit cost of products and services declines as a company gains experience at producing and selling its products.QUESTION 10Which ONE of the following is NOT one of the elements contributing to brand equity? 1. brand awareness 2. perceived quality 3. brand loyalty 4. brand positioning 5. brand association The correct answer to this problem is option 4. Remember brand equity can quite easily be defined as the monetary value of a brand. Another way of looking at the definition is to consider what the product could be sold for with and without the brand name. See section 8.4 in the study guide.
MNM3036/201 9 ANNEXURE B PREVIOUS EXAM PAPER AND MEMORANDUM EXAMPLE OF A PAST EXAM PAPER PLEASE NOTE: The primary purpose of this past exam paper is to make you acquainted with the format of an exam paper for MNM3036 and the type of questions you can expect. You must also take into consideration that you are using a new study guide this year and that there may be questions that you may find difficult to answer from this new study guide. Do not worry that you will get such questions in the coming exam/ SECTION A (COMPULSORY QUESTIONS) Answer all of the following multiple-choice questions on the mark-reading sheet supplied with your answer book. Each multiple-choice question is worth two (2) marks –Section A counts a total of 20 marks. QUESTION 1 Which ONEof the following statements is NOTan important consideration when developing a marketing strategy for convenience products? 1. The manufacturer is responsible for promoting the product. 2. Packaging plays a very important role in the marketing of convenience products at retail level. 3. Convenience products should be distributed directly to the end users for convenience. 4. Consumers tend to purchase convenience products without comparing prices and quality. 5. Convenience products should not be offered only in selective outlets. (2) QUESTION 2 Which ONEof the following statements about product quality is WRONG? 1. Product and/or service quality play an important role in retaining customers and building long-term relationships. 2. Product quality consists of two main dimensions namely quality level and quality consistency. 3. Administrative, technical and after-sales product support form part of product quality. 4. Product quality is directly related to cost. 5. The perceived quality of a product is subjective and does not depend on marketing actions. (2)
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