STRATHMORE UNIVERSITY-MARKETING AND ENTREPRENUERSHIP SKILLS 2008

STRATHMORE UNIVERSITY FACULTY OF INFORMATION TECHNOLOGY 

Diploma in Business Information Technology E

ND OF SEMESTER EXAMINATION 

DBT 2204: MARKETING AND ENTREPRENEURSHIP SKILLS 

DATE: April 2008 TIME: 2 Hours 

INSTRUCTIONS 
1) Answer Question one and any other two questions
2) Question One is Compulsory and Carries 30 marks
3) All other Questions carry 20 marks 4) Time Allowed 2 hours

Question One 

a) The business plan is an important tool for the success of any business. Explain five reasons why as an entrepreneur one should develop a business plan. (10Marks)
b) What are the Key aspects that the entrepreneur should include in the business plan? (10 Marks)
c) As an enterprising entrepreneur selling household products you intend to launch a new range of products in the Kenyan market. Explain Five (5) challenges you expect to face when introducing the products in the market. (10 marks)

Question two 

Successful marketing thrives on exceeding customer’s expectations. However many marketers find it difficult to adequately serve their customers.

a) Describe six factors that makes it difficult for marketers to exceed customers expectations. (10 marks)
b) An aspiring entrepreneur with a big vision of launching a new innovative business idea is seeking your advice on the personal attributes that will make him succeed. Describe five such attributes that you believe an entrepreneur should have. (10 marks)

Question Three 

a) You are the marketing manager of a consumer electronics company. Recent market survey indicates that sales of the main product line CD players are beginning to stabilize and the market is reaching maturity. What growth options would you consider for the product?( 10 marks)
b) As an entrepreneur selling plastic paper bags, you are aware of the increased concern by customers about the natural environment. How would this affect the marketing of your products?( 10 marks)

Question Four 

a) You are the entrepreneur (owner) of a small firm that makes kitchen appliances. While conducting field tests you discover a design flaw in one of your best selling ovens that could potentially cause harm to a small number of consumers. However a product recall is likely to bankrupt your company, leaving all of the employees (including you) jobless. What would you do as the owner?( 10 marks)
b) Small business enterprises are looking for ways to segment their markets in the face of greater competition and ever more demanding customers. What benefits would accrue to the businesses for segmenting their markets.( 10 marks)

Question Five 
Assume you are the manger responsible for generating new product ideas for your company

a) What might be the most valuable sources for new ideas? ( 4 marks)
b) How would you stimulate the development of new ideas in the organisation? ( 8 marks)
c) You are the marketing research supplier designing and conducting studies for a variety of small business enterprises. What is the most important thing that you may do to ensure your clients get their money worth from your services? ( 8 marks)