Section: A Answer any 17 questions. 17 X 2 = 34 1. Explain the CRM cycle. 2. What is Data Mining? 3. Differentiate Response list and Compiled list. 4. Classify Consumer products. 5. Differentiate Convenience product and shopping product. 6. What is brand loyalty? 7. Explain the importance of new products. 8. What is test marketing? 9. What is product lifecycle? 10. Differentiate between services and goods. 11. What is Internal Marketing? 12. Explain the importance of price. 13. What is return on investment? 14. What is break even analysis? 15. What is predatory pricing? 16. What is a marketing channel? 17. Explain supply chain. 18. Explain promotional strategy. 19. What is a direct channel? 20. List some major types of retail operations. Section: B Read the following case study and answer the questions. 1*6=6 RBCs Youth Marketing Strategy As stated above, marketing strategy consists of selecting a target market and designing your marketing mix of your product, price, place, and promotion to appeal to your competitors. RBC, Canadas largest bank, obviously has many different target markets, which results in the key managing different marketing mixes. One key target market for the bank is university students and recent graduates. The group is particularly important as they are just starting to form relationships with companies and the bank realized that if it captures a young customers business now it may be able to retain the customer for a lifetime. To achieve this result, RBC tries to differentiate itself from the other banks by creating a superior student focused marketing mix. While all banks in Canada are offering student banking packages, student lines of credit, credit cards for students and so forth, RBC is attempting to differentiate itself first and foremost by using promotions that appeal to youth. The bank spends upwards of 120$ million to sponsor the 2010 Olympics, including the Own the Podium campaign, which consisted of directing money to athletes who had the best chance to capture an Olympic medal, and the Torch Relay, a 45000 kilometre trip across the country that stopped in cities and towns and featured youth-focused entertainment. RBC has followed up that promotion with a commitment to the Road to Excellence program, which replaced Own the Podium. Royal Bank has now committed to being the Premier National Partner of the Canadian Olympic Committee through 2016 and is proving additional support for the Paralympic teams. In addition, RBC is considered the social media leader among the big banks in Canada. RBC has invested heavily in social media including Twitter, Facebook, blogs, avatars, and online completions and communities to attract young clients. For example, a recent online contest focused on recent university graduates who were asked to provide the best advice they could to new university students. Questions: 1. What markets in RBC targeting with social media? 2. Are there other things RBC could be doing with its marketing mix to appeals to the youth markets? 3. Do you think RBCs investment in the Olympics and the Torch Relay was a good idea? Will I improve the banks market share? 4. Will being a leader in social media translate into more young clients for the bank?