NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
JUNE 2013 EXAMINATION

Course Code:  MKT 823                                                                           Credit Unit: 2 units

Course Title:   Fundamentals of Marketing                          

Time Allowed: 2 Hours

Instruction: Attempt question (1) and any two others. Question (1) carries 30 marks while others carry 20 marks each. Present your answer legibly and logically using relevant examples.

1. A. Discuss the five different philosophies guiding companies’ marketing efforts.

        B. Highlight the eight different common states of demand together with the corresponding

              tasks facing marketing managers.

2. A. Explain the four dimensions of a company’s product mix.

B. Demonstrate the appropriate strategies for successful management of products as they pass through the different stages of their life cycle.

3. A. Discuss the two ways through which firms can obtain new products.

B. Identify the eight factors responsible for new product failures.

C. Explain the five workable organisational structures that can be adopted to ensure     effective product development.

4. A. Discuss the five basic marketing channel functions.

B. Explain the marketing channels for (1) consumer goods and (2) organisational goods

5. A. Explain the four different ways in which an individual can obtain a product he or she wants.

B.  Discuss the five conditions that must be satisfied for exchange to take place.