MB0046 - Marketing Management

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ASSIGNMENT

DRIVE	FALL 2015
PROGRAM	MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2
SUBJECT CODE & NAME	MB0046- Marketing Management
BK ID	B1629
SEMESTER	2
CREDITS	4
MARKS	60

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.

1. Suppose you are the marketing manager of a banking firm. Your bank has opened its first branch overseas. What factor do you think will affect the choice of marketing the most and why?

Answer: Important factors affecting the choice of channels of distribution by the manufacturer are:

(A) Considerations Related to Product

When a manufacturer selects some channel of distribution he/she should take care of such factors which are related to the quality and nature of the product. They are as follows:

1. Unit Value of the Product:

Q.2 A brand is a composite set of beliefs and associations in the mind of consumers. In brand

development, as a part of branding strategy decision, the brand manager can decide to create new brand elements for the new products, apply some of the existing brand elements to the new product, or use a combination of existing and new brand elements to the existing and new products. Explain the different branding strategies used by the companies for their range of products.

Ans:  Definition of Brand :

Brand is the "name, term, design, symbol, or any other feature that identifies one seller's product distinct from those of other sellers." Brands are used in business, marketing, and advertising. Initially, livestock branding was adopted to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot branding iron. A modern example of a brand is Coca-Cola which belongs to the Coca-Cola Company. The word "brand" is often used as a metonym referring to the

3. Describe the international market entry strategies in brief.

Answer : There are a variety of ways in which a company can enter a foreign market. No one market entry strategy works for all international markets. Direct exporting may be the most appropriate strategy in one market while in another you may need to set up a joint venture and in another you may well license your manufacturing. There will be a number of factors that will influence your choice of strategy, including, but not limited to, tariff rates, the degree of adaptation of your product required, marketing and transportation costs. While these factors may well increase your costs it is expected the increase in sales will offset these costs. The following strategies are the main entry options open to you.

Direct Exporting

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. Explain the steps in the personal selling process which helps in the successful sales.

Ans : Personal Selling :

Personal selling is selling technique involved between person to person and between the prospective buyer and seller. Personal selling consists of human contact and direct communication rather than impersonal mass communication. Personal selling involves developing customers relationship, discovering & communicating customer needs, matching the appropriate products with these needs. Personal selling is the most significant promotional tool in terms of number of people employed. Personal selling is so

Q5.  Describe the stages in consumer decision making process.

Answer : It is every marketer’s goal to get inside the head of a consumer. You want to figure out how the consumer makes decisions and how you can get them to make a decision to purchase your product or service. There are 5 steps in a consumer decision making process a need or a want is recognized, search process, comparison, product or service selection, and evaluation of decision.

Problem Recognition

Most decision making starts with some sort of

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 : In order to utilize the immense potential in rural markets companies need to develop specific marketing mix and action plans, taking into consideration the complex set of factors that influence consumer behaviour. Innovative companies which adopted an integrated approach have succeeded in utilizing marketing opportunities that rural areas offer.

Different rural marketing strategies in India

1.       Competitive strategy

1.1.    Supplier: The company not only has to make

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