Past exam questions:

1. Michael Porter has identified five (5) forces that determine the intrinsic long run attractiveness of a market or industry. Market segment.
a. Briefly list and describe those forces.(15 marks) Detail inclusion P254
这个点有两种考法，一种是考在segmentation里面的应用，理解的方向是如何从这五点判断公司是否要进入这个行业，也就是书上的内容。还有一种方向就是从competitive advantage角度答，公司如何通过波特五力找到自己的竞争方向和竞争手段。
Suppliers: supplier power供应商议价能力
A segment is unattractive if the company’s suppliers are able to raise process or reduce quantity supplied.
供应商议价能力强：
买主多，每一个单一买主都不可能成为重要客户；
产品有特色，转换成本高，或者很难有替代品；
供应商可向前联合或者一体化，而买方很难（店大欺客）
Buyers: buyer power购买者议价能力
A segment is unattractive if buyers possess strong or growing bargaining power.
购买者议价能力强：
购买者数量少，且每个购买者的购买量较大；
卖方由大量相对规模较小的企业组成；
标准化产品，转换成本低，很多替代品；
购买者有能力向后一体化，卖主不能向前一体化（客大欺店）
Potential entrants: threat of mobility 行业新进入者威胁
The most attractive segment is one in which entry barriers are high and exit barriers are low.
进入壁垒：规模经济，产品差异，资本需要，转换成本，销售渠道，政府政策等。现有企业对新进入者的反应程度，采取报复行动的大小和可能性。故需要新进入者主观估计：
进入带来的潜在收益
所需花费的代价
所要承担的风险
Substitutes: threat of substitutes
A segment is unattractive when there are actual or potential substitutes for the product.
替代品价格越低，质量越好，客户转换成本越低，其竞争力就越强。
Industry competitors: segment rivalry 同行竞争程度
A segment is unattractive if it already contains numerous, strong, or aggressive competitors.
同行竞争加剧的条件：
行业进入壁垒低，竞争者多
市场趋于成熟，产品需求增长缓慢
竞争者promotion手段
相同的产品和服务（替代品多）
退出市场障碍高
b. Explain why classifying competitive strategies in this way is appealing to marketers. (10 marks)
我不确定这个的答案，还没有看competitive strategy。有没有可能也是从这五个方面答，比如说在substitutes里面，marketers了解到同行业有很多的替代品，所以他们必须提供价低质好的产品来赢得竞争优势？不知道competitive strategy这章里面有没有答案。如果你看了那一章，觉得有什么能用到的，随时私信我交流下。

2. Marketing scholars have developed a “stage model” of buying decision process.
a. Identify and discuss the five(5) stages consumers pass through using a specific example.(15 marks) P188
Problem recognition: buyers recognize a problem or need triggered by internal or external stimuli.
Information search: customer often search for limited amounts of information from personal, commercial, public, experiential sources.
Evaluation of alternatives: customers are trying to satisfy a need. Then the customer is looking for certain benefits from the product solution. Finally, the consumer sees each product as a bundle of attributes with varying abilities to deliver the benefits.
Purchase decision:
Postpurchase behaviour:
Postpurchase satisfaction: expectations and the product are perceived performance.
Postpurchase action: purchase again or abandon the product
Postpurchase uses and disposal
b. Perception is the process by which an individual selects, organizes, and interprets information inputs to create a meaningful picture of the world, for a marketer, what is the key point of perception? Discuss.(10 marks) P184
Selective attention注意
People are more likely to notice stimuli that relate to a current need.
People are more likely to notice stimuli they anticipate.
People ae more likely to notice stimuli whose deviations are large.
Selective distortion曲解
It is the tendency to interpret information in a way that fits our perception.
Selective retention记忆
We are likely to remember the food points about a product we like and forget good points about competing product.
Subliminal perception潜在感知
The selective perception mechanisms require consumers’ active engagement and thought.

3. A market segment consists of a group of customers who share a similar set of needs and wants. Rather than creating the segments, the marketer’s task is to identify them and decide which one to target
a) There are numbers of characteristics variables that are used to segment consumer markets. There fall into two broad categories of Descriptive and Behavioral characteristic. Discuss the three descriptive characteristics, using examples to illustrate how each might be used by a marketer. P236
Geographic 地理学(where)
Divide market into different geographic units.
Nations
States
Regions