Marketing Management - NMIMS

 

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NMIMS Global Access

School for Continuing Education (NGA-SCE)

Course:  Marketing Management

Assignment Marks: 30

Instructions:

·       All Questions carry equal marks.

·       All Questions are compulsory

·       All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far aspossible.

·       All answers to be written individually. Discussion and group work is not advisable.

·       Students are free to refer to any books/reference material/website/internet for attempting theirassignments, but are not allowed to copy the matter as it is from the source of reference.

·       Students should write the assignment in their own words. Copying of assignments from otherstudents is not allowed.

·       Students should follow the following parameter for answering the assignment questions.

 

For Theoretical Answer			For Numerical Answer
Assessment Parameter	Weightage		Assessment Parameter	Weightage
Introduction	20%		Understanding and usage of the formula	20%
Concepts and Application related to the question	60%		Procedure / Steps	50%
Conclusion	20%		Correct Answer & Interpretation	30%

 

 

Case:

“Yuva” is a fitness band catering to Indian youth in the lower price segment. There is a vast market thatis health-conscious and wants the latest tech in the wearable device category. There is currently two fitness band that is being sold by the company.

Given below are their prices.

 

Yuva Basic	Rupees 899/-
Yuva Pro	Rupees 1199/-

 

The product quality is good given the price range. It has all fitness feature supported by colorful design. It has a bigger display as compared to their competitors. The company has purposely kept the display bigger for the youth audience as they want the feel of a smartwatch at the price of a fitness band. The company has a plan to sell only through an online platform. The product is available on the major e-commerce platform as well as on the company’s website. It has just been 15 days that the product is launched but it doesn’t have any demand from consumers. There is no problem with the product but there are no promotions done by the company. You have been hired as a Marketing head of the brand Yuva.

 

Ques. 1. Suggest various types of segmentation for brand Yuva. (10 Marks) 800 Words

Answer:

INTRODUCTION:

Market Segmentation means dividing the potential market into different segments or groups according to different homogenous bases. A company can target different homogenous groups according to their behaviour and response towards the commodity or service. Homogeneity, reaction, and distinction are three bases on which the market is divided. 

It reduces risk by defining which group will be more attracted and be willing to buy a certain commodity at a certain price. Therefore, a company can carefully and efficiently focus on those things and groups profitable for them. 

 

 

 

 

 

 

Ques.2. How will you promote the brand Yuva online? Suggest a minimum of five online platforms through which you will promote the brand and increase the sale. (10 Marks)

 

Answer:  INTRODUCTION:

Online promotion: Promoting a brand or product or service through internet platforms is known as online promotion. It is useful when a company wants better exposure of its brand at a reasonable cost. It increases the brand of a company and helps a company reach more consumers at a wide range (globally). 

 

It is better for small businesses that do not have much budget to compete against bigger businesses. And because of advanced technology, a company can even measure the result of online promotion, which is not possible in offline promotion through ads in newspapers or billboards, etc. 

 

CONCEPT AND APPLICATION

 

 

3.a. Explain any five factors that will influence the consumer behavior for the purchase of Yuva Fitness Band. (5 Marks)

 

Answer: INTRODUCTION:

Consumer Behaviour: Consumer behaviour is the study of a consumer's reaction to a certain product or service regarding what they want to buy and their needs and desires. To know the potential market that needs to be targeted, it is important to understand the consumer's behaviour on a new or old product or service. The behaviour of a consumer depends on various factors. And according to the consumer's behaviour, a company can change their marketing strategies and various other decisions.

CONCEPT AND APPLICATION:

Let us discuss various factors that

 

 

Ques.3.b. Explain various stages that a customer will go through in the purchasing decision of the Yuva fitness band. (5 Marks)

Answer: INTRODUCTION:

Buyer decision process: It is a complete journey that a consumer goes through before buying a commodity. It involves stages starting from getting knowledge of the commodity until the purchase of the commodity. This process is important for making various decisions regarding marketing and sales of a product.

CONCEPT AND APPLICATION:

Let us discuss various stages that a consumer goes through in buying a good or service.

1.       Problem or need recognition: First of all, the consumer will try to find the answers to the needs and the main cause of those needs that arise in them. These needs are triggered in the consumer through internal or external

 

 

Hello MBA aspirants,

Get MBA assignments of NMIMS University solved by educational professionals at a nominal charge.

Mail us at: help.mbaassignments@gmail.com

Call us at: 08263069601