MB0046 – Marketing Management

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MB0046_MBA_Sem2_Fall/August 2012

Master of Business Administration - MBA Semester 2

MB0046 – Marketing Management - 4 Credits

Assignment Set- 1 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

Q.1 Marketing involves satisfaction of consumer needs’. Elucidate the statement.

Answer :  Customer satisfaction refers to the extent to which customers are happy with the products and services provided by a business. Customer satisfaction levels can be measured using survey techniques and questionnaires. Gaining high levels of customer satisfaction is very important to a business because satisfied customers are most likely to be loyal and to make repeated orders and to use a wide range of services offered by a business.

Q.2 Conduct a SWOT analysis for any one automobile brand of your choice. How will this analysis help in planning marketing strategies for the brand?

Answer :  SWOT is an acronym for strengths, weaknesses, opportunities and threats, and represents the key categories for a particular type of business analysis. Car dealerships use it to determine how they fare versus competitors in their local markets. They also use SWOT analyses to obtain loans, differentiate themselves from key competitors, establish business objectives, and develop marketing strategies. According to MindTools.com, the most effective objectives for a SWOT analysis are those that are measurable.

Strengths

Q.3 Explain in brief the process involved in personal selling.

Answer :  Personal selling is the most expensive form of advertising and to be effective one should use a step by step process to gain the most benefit. Personal selling can adjust the manner in which facts are communicated and can consider factors such as culture and behaviour in the approach. They can ask questions to discover the specific need of the customer and can get feedback and adjust the presentation as it progresses.

Q.4 Describe the stages of business buying process.

Answer :  20 Steps to Business Buying

VR's Proven 20 Step Buying Process for Buying an Existing Business summarizes the Buying Process and is an excellent "road map" for new buyers to understand before they embark on this exciting path of controlling their own future.

As discussed under The Buying Process section, our first step in working with you is to help you identify the right type of business for you. If you choose to pursue an existing business, we will support you every step of the way with our proven 20 step buying process.

Q.5 Why is rural market important? What should marketers keep in mind when catering to this market?

Answer :  Marketers should know one basic rule-India is second largest consumer market in the world. India has over 1 billion potential customers; hence one can see no surprise why consumer goods companies see India as most prolific ground for development, expansion and growth.

Q.6 Explain the core concepts of marketing. Define service and explain its relevance in modern society

Answer :  Marketing as a subject of study is now attracting attention from business firms, companies, institutions and even from countries. In history, its origin dates back to the days when the people realized that he should specialize only in the activity to which he was best suited and he found it to be his advantage to utilize the services of others when they could do things better than him. This specialization created the necessity of exchange and thus the foundation of business was started. After Industrial Revolution, there were changes in the techniques, methods and volume of production. Large scale production introduced the new methods of marketing to create demand for products and services.

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MB0046_MBA_Sem2_Fall/August 2012

Master of Business Administration - MBA Semester 2

MB0046 – Marketing Management - 4 Credits

Assignment Set- 2 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

Q.1 Explain the various steps involved in the design of a distribution channel.

Answer : Distribution is one of the classic “4 Ps” of marketing (product, promotion, price, placement a.k.a. “distribution”). It’s a key element in your entire marketing strategy — it helps you expand your reach and grow revenue.

B2B and B2C companies can sell through a single channel or through multiple channels that may include:

Q.2 Will the pricing and product policy of a multinational firm be different in a developed and an underdeveloped country? Justify your answer.

Answer :  Multinational corporations are business entities that operate in more than one country. The typical multinational corporation or MNC normally functions with a headquarters that is based in one country, while other facilities are based in locations in other countries. In some circles, a multinational corporation is referred to as a multinational enterprise (MBE) or a transnational corporation (TNC).

Q.3 Explain the consumer decision making process

Answer :  Consumers make numerous decisions everyday; sometimes even when they are not consciously aware of how and why they have made a choice. The consumer as a decision maker is viewed in different ways by different groups of researchers. The economic view holds that consumers are rational decision makers, while some other researchers view the consumers as uninvolved, passive decision makers.

Q.4 What is integrated marketing communication? Explain the integration marketing communication development process.

Answer :  Integrated Marketing Communications is a simple concept. It ensures that all forms of communications and messages are carefully linked together.

Q.5 Explain the types of advertisements and characteristics of major media.

Answer :  Types of Media and Their Characteristics

In terms of overall advertising expenditures, media advertising is still dominated by Press and television, which are of comparable size (by value of 'sales'). Posters and radio follow some way behind, with cinema representing a very specialist medium.

Q.6 What are the advantages of branding? What value does the organisation and customers get out of the branding process?

Answer : Branding is the process of creating distinctive and durable perceptions in the minds of consumers. A brand is a persistent, unique business identity intertwined with associations of personality, quality, origin, liking and more. Here’s why the effort to brand your company or yourself pays off.

1. Memo ability

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