If you are sitting a marketing exam or a marketing test this semester, here are a few exam tips to help.
I won’t repeat the usual points about time management but will try to show how you can focus and gain higher grades.
If you think about what the examiner wants as the starting point. He/she is your customer. They need to know firstly, do you know your subject. E.g what is segmentation? Here you outline the key principles, size of segment, growth, profitability, number of competitors, needs of customers. Focus then on the options to target and finally position.
That is the start not the end of the question. Too many students learn and repeat the stages from the texts and leave it at that. Stronger students do more and gain higher marks.
To achieve higher marks in your marketing exam you need to show that you understand the concept. In this example segmentation. So take a business you like. It might be an interest or just a company that is in the news. You could start with an industry and then look at the various companies in that industry.
Take the jeans industry. Look at the overall size and growth of it. Number of competitors and then how attractive it is. You could then compare two types of jeans in that market. Look at the lower end of the market and then the higher end. Price is a key way of illustrating position. Show then how each of those businesses build their position in the market. So are you buying your jeans with a cool designer label or an own brand from a high street store or even a supermarket such as Tesco.
Show that the needs of customers are many and varied. Business must focus and build the marketing tools around the choice of segment and the needs of the customers in that market.
The marketing exam answer will ideally show that you know the topic. That is only part of the answer. Show that you understand but giving examples. Use topics you know or like, try to be different as the same text book examples will not make you stand out from the crowd. If you like sport, take that as a theme, or maybe cars, or music. Build up a range of examples and think about giving the examiner some variety. This marketing test will show the examiner if you really understand how marketing works and can help businesses.
Finally the students that really stand out in any marketing exam are those who are able to show what the concept means for the business you have chosen. If you were the manager of that business would you be any the wiser. Ask the question, so what does that tell me? Can I use that information to improve my business. That is the secret to success in your marketing exam.