MBA203 - Marketing Management

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ASSIGNMENT

DRIVE	FALL 2017
PROGRAM	Masters of Business Administration - MBA
SEMESTER	II
SUBJECT CODE & NAME	MBA203 - Marketing Management
BK ID	B1629
CREDITS	2, 4
MARKS	30

Note: Note –The Assignment is divide into 2 sets. You have to answer all questions in both sets. Average score of both assignments scored by you will be consider as your IA score. Kindly note that answers for 10 marks questions should be approximately of 400 words.

ASSIGNMENT SET-1

Question. 1. Define Marketing and various marketing orientations.

Answer: The concept of marketing has evolved over time. Whilst in today’s business world "the customer is king". In the past this was not the case, some businesses put factors other than the customer first. This article examines factors

Question. 2. Explain the Traditional and Modern Ps of Marketing Mix.

Answer: Marketing is a continually evolving discipline and as such can be one that companies find themselves left very much behind the competition if they stand still for too long. One example of this evolution has been the fundamental changes to the basic Marketing mix. Where once there were 4 Ps to explain the mix, nowadays it is more commonly accepted that a more developed 7 Ps adds a much needed additional layer of depth to the Marketing Mix with some theorists going even going further.

Question. 3. Explain the various stages involved in Consumer Decision Making Process. Support your answer with a proper diagram showing the Consumer Decision Making Process.

Answer: An individual who purchases products and services from the market for his/her own personal consumption is called as consumer.

To understand the complete process of consumer decision making, let us first go through the following example:

Tim went to a nearby retail store to buy a laptop for himself. The store manager showed him all the latest models and after few rounds of negotiations, Tim immediately selected one for himself.

In the above example Tim is the consumer and

ASSIGNMENT SET-2

Question. 1. Explain Product Life Cycle (PLC)

Answer: As consumers, we buy millions of products every year. And just like us, these products have a life cycle. Older, long-established products eventually become less popular, while in contrast, the demand for new, more modern goods usually increases quite rapidly after they are launched.

Because most companies understand the different

Question. 2. What are the various Factors Affecting Price Decisions?

Answer: The influencing factors for a price decision can be divided into two groups:

Factors Affecting Pricing Decisions

(A) Internal Factors:

1. Organisational Factors: Pricing decisions occur on two

Question. 3. What do you mean by Personal Selling? What are the various nature of personal selling? What are the various personal selling approaches?

Answer: Personal-selling or salesmanship are synonymous terms; with the only difference that the former term is of recent origin, while the latter term has been traditionally in usage, in the commercial world.

Since a salesman, in persuading a prospect to buy a certain product, follows a personal approach; salesmanship, in the present-day-times in often popularly called as personal selling.

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