MB0046 - Marketing Management

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ASSIGNMENT

DRIVE	SUMMER 2015
PROGRAM	MBA/ MBADS/ MBAFLEX/ MBAHCSN3/ PGDBAN2
SEMESTER	2
SUBJECT CODE & NAME	MB0046- Marketing Management
BK ID	B1629
CREDITS&MARKS	4 Credits, 60 marks

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q. 1. Do you think the argument of some theorists that the traditional Ps are not enough for services marketing? Give suitable examples to prove your point.

Answer:Services marketing is a sub-field of marketing, which can be split into the two main areas of goods marketing (which includes the marketing of fast moving consumer goods (FMCG) and durables) and services marketing. Services marketing typically refers to both business to consumer (B2C) and business to business (B2B) services, and includes marketing of services such as telecommunications services, financial services, all types of hospitality services, car rental services, air travel, health care services and professional services.

Q. 2. What is sales promotion? Explain any eight tools of sales promotion directed at consumers.

Answer:Sales promotion is one level or type of marketing aimed either at the consumer or at the distribution channel (in the form of sales-incentives). It is used to introduce new product, clear out inventories, attract traffic, and to lift sales temporarily. It is more closely associated with the marketing of products than of services. The American Marketing Association (AMA), in its Web-based "Dictionary of Marketing Terms," defines sales promotion as "media and nonmedia marketing pressure applied for a predetermined, limited period of time in order to stimulate trial, increase consumer demand, or improve product availability."

Q. 3. Define Environmental scanning. Explain Delphi technique and Scenario Building technique of Environmental Scanning.

                             

Answer:Environmental scanning can be defined as ‘the study and interpretation of the political, economic, social and technological events and trends which influence a business, an industry or even a total market’. The factors which need to be considered for environmental scanning are events, trends, issues and expectations of the different interest groups. Issues are often forerunners of trend breaks. A trend break could be a value shift in society, a technological innovation that might be permanent or a paradigm change. Issues are less deep-seated and can be 'a temporary short-lived reaction to a social phenomenon'. A trend can be defined as an ‘environmental phenomenon that has adopted a structural character’.

By bringing the tool of scenario building into the realm of a PR practitioner’s world, Grunig is equipping professionals with an important perspective to bring into the executive level meeting to help guide decision-making. “Management scholars

Q. 4. Personal selling focuses in on ‘personal’ or ‘one to one’ selling. It involves an individual salesman or a sales team establishing and building a profitable relationship with customers over a period of time through a series of steps. What is personal selling? Explain the steps in the personal selling process which helps in successful sales.

Answer: Personal selling is when a company uses salespersons to build a relationship and engage customers to determine their needs and attain a sales order that may not otherwise have been placed. The personal selling process is a seven step approach: prospecting, pre-approach, approach, presentation, meeting objections, closing the sale, and follow-up.

The sales cycle, more generally speaking, turns leads into prospects, suspects into prospects and prospects into customers.

Q. 5. What is Buying centre? Explain the seven roles of Buying centre and also specify the role of functional departments in the purchase process.

Answer:The Purchasing department is influential in straight rebuy and modified rebuy situations. Engineering personnel usually have a major influence in selecting product components and purchasing managers dominate in selecting suppliers.

Thus in new buy situations, the industrial marketer must first direct his product information to the engineering personnel. In rebuy situations and at supplier-selection time, communication must be directed at the purchasing department personnel

Q. 6. Describe some of the strategies for effective marketing and advertising in rural market. Also explain the innovative use of media in rural market.

Answer:Farmers and rural artisans are paid in cash as well in kind, and their misrepresent their purchasing power. For their reason, a marketer must therefore, make an attempt to understand the rural consumer better before meaning any marketing plans.

Rural markets in India have untapped potential. There are several difficulties confronting the effort to fully explore the rural markets. The concept of rural markets in India is still in evolving shape, and the sector pages a variety of challenges. Distribution costs and non-availability of retail output are major problems faced by marketers.

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