Marketing Management

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National Institute of Business Management

Chennai - 020

FIRST SEMESTER EMBA/ MBA

Subject: Marketing Management

Q.1.Explain the modern developments in the concept and practice of marketing.

Ans:- Marketing:- Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service.

Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and customer relationship management that also benefits the organization. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and providing superior customer value. From a societal point of view, marketing is the link

Q.2.        Explain the meaning and relevance of Marketing Environment.

Ans:- Marketing Environment:- The market environment is a marketing term and refers to factors and forces that affect a firm’s ability to build and maintain successful relationships with customers. Three levels of the environment are 3: Micro (internal) environment - small forces within the company that affect its ability to serve its customers. Meso environment – the industry in which a company operates and the industry’s market(s). Macro (national) environment - larger societal forces that affect the microenvironment.

Q.3.Explain the procedure in Marketing Planning.

Ans: - Marketing Planning: - A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use.

Procedure in Marketing Planning:-

Marketing Planning Process

Marketing planning process is a series of stages that are usually followed in a sequence. Organisations can adapt their marketing plan to suit the circumstances and their requirements. Marketing planning process involves both the development of objectives and specifications for how to achieve the objectives. Following ar

Q4. Discuss the basic principles of an organization design.

Q.5.Explain pricing policy.

Ans: - Managers should start setting prices during the development stage as part of strategic pricing to avoid launching products or services that cannot sustain profitable prices in the market. This approach to pricing enables companies to either fit costs to prices or scrap products or services that cannot be generated cost-effectively. Through systematic pricing policies and strategies, companies can reap greater profits and increase or defend their market shares. Setting prices is one of the principal tasks of marketing and finance managers in that the price of a product or service often plays a significant role in that product's or service's success, not to mention in

Q6.Discuss how will you select the appropriate media for advertisement.             

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