Monash University ViVa Voce 2009 by azu19

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Leaked viva question 2009 by Monash University. Some how the question leaked out.. it says to be the template for many years.. good luck. You out there majoring in marketing can apply to ur oral test. question are easy but to convince ur lecturer is hard. relax.. sit back.. breath and chill.. read read and read

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									1. Why bother to plan? 2. What is the strategic plan and what is its relationship to the marketing plan? 3. What are the criteria used in establishing a good Mission Statement? 4. Should Mission Statements be communicated to all members of the firms? Why? 5. Describe Mission Statements. 6. What are the danger(s) in establishing/developing a mission statement? ie; What are the issues to avoid in creating a Mission Statement. 7. Why do we need a time frame/period for our marketing plan? (Sets the timeframe for implementation, and guides the time period to be covered) 8. What are the determinants for setting the "time period" for a marketing plan? 9. What Timeframe is most common for a strategic plan as compared to a marketing plan? 10. What are the Key elements of the planning process? 11. What are the Components of a strategic plan? 12. Why do we write mission statements? 13. What is the relevance of Critical Success Factors or Key Success Factors when conducting a situational analysis? 14. Describe the PLC. 15. What's the danger or trap a lot of managers fall into when discussing the PLC concept? 16. Why do we need to make note of The Market Life Cycle as distinct from the Product Life Cycle? 17. What are the measures that can be used for each axis of the PLC? 18. What are the strengths/weaknesses of the PLC? 19. What factors should marketing managers be aware of when using the PLC? 20. What are the difficulties faced when using the PLC concept? 21. What are the indicators of a position on the product life cycle? 22. In what way(s) does the PLC assist in establishing marketing objectives? 23. Describe the BCG. How is it used? At what level in the organisation structure is the BCG usually applied? 24. What do we measure on each axis of the BCG? 25. How do we calculate - Relative market share for the BCG? - Market growth rate?

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26. What are the arguments For/Against using the BCG? Is there a better alternative to the BCG? 27. Describe the circumstances when it would not be advisable to adopt the BCG? 28. What's the relationship between the BCG and the GE matrix? 29. Describe the GE matrix. How is it used? At what level in the organisation structure is the GE usually applied? 30. What are the advantages/disadvantages of the GE matrix? 31. Describe the circumstances when you would use the GE matrix? 32. What types of factors would one expect to see under each of the GE axes? 33. When would you use the BCG matrix and when would you use the GE? 34. What are the labels for each axis of the GE matrix? 35. Is there a relationship between the market life cycle and the portfolio matrix? 36. Define Gap Analysis? When is it used? At what level in the organisation structure is Gap Analysis usually applied? 37. What are the arguments For/Against using Gap Analysis. 38. Describe the Ansoff Matrix. When used? At what level in the organisation structure is the Ansoff Matrix usually applied? 39. What does the Ansoff Matrix tell a planner? 40. What are the arguments For/Against for using the Ansoff Matrix? 41. Do you see a difference between a Market audit and a SWOT Analysis? 42. Is there a difference between a market audit and a marketing audit? 43. What is a SWOT Analysis? 44. If you get conflicting positions on the various tools of analysis you use. (eg PLC c/- BCG)  What does this indicate to you?  What action(s) should you take? 45. What ways/techniques are available for analysing competitors and competitor's activities? 46. What‟s the meaning of a situational analysis? 47. How important is the Situational Analysis in the Marketing Planning Process? 48. How important is the Situational Analysis in the marketing plan? Why? 49. What are the key areas of an 'internal analysis'? 50. What are the key areas of an 'external analysis'? -2-

51. Why should a marketing planner be aware of the difference between internal and external analysis? 52. Why do we need to quantify the SWOT analysis wherever possible? 48. Define marketing. 49. Define the marketing concept. 50. Is there a difference between the definition of marketing and the marketing concept? 51. We have talked in class of the need to link the components of a marketing plan. What was meant by this term LINK? 52. Why do some products experience long successful lives whilst others have very short life cycles? 53. What are the THREE most important components of a marketing plan? And importantly why? 54. Where in the plan would you find the analysis of the company‟s financial health? 55. What is a 'Strategic Plan'? Compared to a Strategic Marketing plan? 56. What are the characteristics of a marketing plan? 57. What are the differences between objectives, strategies and tactics? 58. What are the basic characteristics of objectives? 59. What is the difference between a corporate objective and a marketing objective and give examples that are SMART? 60. What are the general issues one would expect to see marketing objectives cover? Provide examples. 61. What do we mean by the phrase: a link between objectives and the situation analysis”? 62. Why have an Executive Summary in a marketing plan? 63. What's the difference between an Executive Summary and an Introduction? 64. What are the 5 elements of a good executive summary? 65. What‟s the difference between a report and a marketing plan? 66. What is involved in managing marketing planning as a process? 140. Discuss the term linkages in terms of the marketing plan? What are they and what ones are important? 67. What is meant by the phrase 'Marketing Mix'? 68. What are the elements of the Marketing Mix? Discuss. 69. What is the difference between a marketing plan and the marketing planning process? -3-

70. What is the difference between a market plan and a marketing plan? 71. What is meant by "achieving harmony, consistency and leverage" in Marketing? 72. Can you illustrate the difference between a marketing 'need' and a marketing 'want', when discussing the marketing concept of "satisfying customer's needs and wants"? 73. What is the difference between customers and consumers when discussing marketing? 74. Why is understanding the difference between customers and consumers important in the context of establishing a marketing plan? 75. Why is being able to 'define the market' so important for a marketing manager? 76. Define segmentation. What are the steps in segmenting a market? 77. Discuss the marketing mix and value. 78. What are some of the bases/methods by which you can segment a market? 79. Why is segmentation important in marketing planning? 80. Define a Strategy. 81. What is value-based marketing? 82. At what stage in the planning process should we use the 4Ps? 83. What are contingency plans? 84. Why have contingency plans? 85. Are contingency plans the same as "What If!!" questions? 86. Is there any link between having contingency plans in your marketing plan and having assumptions? 87. Under what circumstances would you include Assumptions as an important heading in your marketing plan? 88. Discuss reasons why the financial budget is a key component of the marketing plan? 89. From time to time during the semester the term „linkage‟ has been referred to as a key to a successful marketing plan. What are the major linkages of the components of the marketing plan with the plan‟s financial budget? 90. What elements should be included in a marketing plan‟s financial budget? 91. Why do we highlight the need to be aware of cash flow and profitability when preparing and implementing a marketing plan? 92. Why is it important to have an understanding of the breakdown between fixed and variable costs when looking at pricing decisions? 93. Financial planning involves two major activities. What are they? Discuss problems in undertaking these activities. -4-

94. What are some important considerations in choosing the financial information to be used for marketing planning and control? 95. What two factors complicate the problem of making future projections about the financial performance of marketing programs? 96. How does improving product quality lower the cost of producing a product? 97. What is the importance of Market Performance versus Financial Performance.

98. Explain the Financial Benefit of Customer Retention? 99. Why is it critical that Marketers have an understanding of the financial ramifications of their marketing activities? 100. What are the characteristics of a Manager who is good at monitoring? 101. Outline methods of implementation of a marketing plan. 102. What differences are there between Implementation and Action Plans within a marketing plan? 103. What is the role of a marketing audit? 104. What is a marketing audit? At what stage of the marketing planning process should a marketing audit be conducted? 105. Explain “What is wrong with our marketing management?” 106. Why is it necessary for an organisation to alter its targeting strategy over time. 107. Suggest an approach that can be used by a regional family restaurant chain to determine the firm‟s strengths over those of its competitors. 108. What justification is there for conducting a marketing audit in a business unit whose performance has been very good? 141. What are the options for holding a marketing audit and who should run it and what problems may occur? 109. What do you see as the benefits of a good marketing plan? 110. Why is a road map for a family vacation similar to the process of developing a marketing plan? What are the similarities and differences? 111. Why should a business with a strong market orientation do a better job of creating a situation analysis than a business with a poor market orientation? 112. Why do high levels of customer dissatisfaction make attracting new customers more difficult? 113. Why does a business need both internal (financial) measures of performance and external (market-based) measures of performance? 114. Discuss the difference between the two types of performance metrics and how they are used.

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115. Why are performance metrics important? 116. What are some of the benefits of a broad, strategic market definition? 117. What are the advantages of computing a Market Share Index? 118. What is the purpose of spending a day in the life of a customer? 120.Why should customer needs be the driving force in segmenting a market? 121. What forces shape market attractiveness, and how should they be measured in order to develop an overall index of market attractiveness? 122. Why is competitor orientation an important element of a business‟s market orientation? 123. How does the amount of customer intelligence and competitor intelligence available to business influence pricing? 124. How does the level of product-market diversification affect sales growth and performance consistency? 125. When would a business pursue an unrelated new market entry strategy? 126. Why do share leaders have to work harder than share followers to protect share? 127. Why does the first step in the market planning process involve a situation analysis? 128. What is the difference between a “market driven” approach compared to a “driving markets” approach? 129. Name the 3Cs that marketing organisations emphasise. 130. How important is the business definition and scope stage of the marketing plan? 131. Why do marketing managers undertake a market review? 132. There are many potential driving forces of a market. Name at least 3. 133. We have talked about Porter‟s 5 forces model. 134. Why is Porter‟s Value Chain model so important? 135. What are the 3 main financial reports that marketing influences? 136. Why do marketing managers have to understand figures and in particular financial statements? 137. Why is a cash flow statement important to a marketing manager? 138. Why is it important to complete a perceptual map (positioning statement ) for your target market? 139. How do you determine how many performance metrics you should analyse and how would you decide which ones to use? 140. Reed talks about a list of 5 major factors to consider for determining market attractiveness.

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141. What do we mean when we talk about Marketing strategies being consistent? Why is this important? 139. What is an action plan (implementation). What are the parts of an action plan and why is it important?

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