Subject : Marketing Management

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AEREN FOUNDATION’S                                                           Maharashtra Govt. Reg. No.: F-11724

 

Name : UMER MUQUTHER S A                                                                                                       Marks : 80

Course : Specialisation

Subject : Marketing Management

Answer the following question.

Question. 1. Explain Forms of Direct Marketing.

Answer:Direct marketing occurs when the “producer” connects with the end user. The end user may be a consumer or a business.

Direct marketing applies to product and service-oriented businesses, and to nonprofit organizations. In all situations, there is no intermediary involved.

Question.2. What do you mean by the term product Life Cycle (PLC) Explain the stages of PLC. Find out in which stage of PLC are the Following product in India, and suggest suitable marketing strategies for each

a) Tooth Powder

b) Microwave Ovens

b) Bicycles

d) VCRs.

Answer:A new product passes through set of stages known as product life cycle. Product life cycle  applies to both brand and category of products. Its time period vary from product to product. Modern product life cycles are becoming shorter and shorter as products in mature stages are being renewed by market segmentation and  product differentiation.

Companies always attempt to maximize the

Question.3. Discuss the role & importance of physical distribution in the consumer products marketing.

Answer:The physical distribution arrangement or system designed to move the goods from producers and manufacturers to the users has a definite role. That is why; all wise business firms have forged ahead with investment of good deal of time, treasure and talent in physical distribution system improvements to get best to others.

It provides a new orientation for marketing. It gives distribution factors the importance they deserve in marketing and business policies, plans and decisions.

Question.5. What are Current trends in packaging?

Answer:Consumers are creatures of sensation. Packaging design is all about engaging their sense of touch and sight to influence buying habits. They’re also becoming increasingly sophisticated and discerning buyers. As a result, the trend in packaging design is toward meeting their demands for better designed and environmentally responsible products. Fortunately our creativity, combined with today’s technology, allows us to blend new materials and processes that push the design envelope while influencing consumer behaviour.

Question.6. Give the steps in launching a new product. Also give various methods of test marketing a new Product.

Answer:Developing a new product shouldn’t feel like you’re fighting in the dark. There’s an easier way. What you need is a structured road-map that gives your business a clear path to follow.

Actually developing the tangible product or service is only a small part of the new product development process, which includes the complete journey from generating the initial idea to bringing the product to market.

By setting out the steps involved, and sticking to them, your product development will become a more focused and flexible approach that can be

Question.7. Explain Product Life Cycle in detail .How do marketing strategies change as product moves. through various stages of Life cycle

Answer:A new product progresses through a sequence of stages from introduction to growth, maturity, and decline. This sequence is known as the product life cycle and is associated with changes in the marketing situation, thus impacting the marketing strategy and the marketing mix.

The product revenue and profits can be plotted as a function of the life-cycle stages as shown in the graph below:

Introduction Stage: In the introduction stage, the firm seeks to build product awareness and develop a market for the product. The impact on the marketing mix is as follows:

·       Product branding and quality level is established, and intellectual property protection such as patents and trademarks are obtained.

·       Pricing may be low penetration pricing to build market share rapidly, or high skim pricing to recover development costs.

·       Distribution is selective until consumers show acceptance of the product.

·       Promotion is aimed at innovators and early adopters. Marketing communications seeks to build product awareness and to educate potential consumers about the product.

Growth Stage: In the growth stage, the firm seeks to build brand preference and increase market share.

·       Product quality is maintained and additional features and support services may be added.

·       Pricing is maintained as the firm enjoys increasing demand with little competition.

·       Distribution channels are added as demand increases and customers accept the product.

·       Promotion is aimed at a broader audience.

Maturity Stage: At maturity, the strong growth in sales diminishes. Competition may appear with similar products. The primary objective at this point is to defend market share while maximizing profit.

·       Product features may be enhanced to differentiate the product from that of competitors.

·       Pricing may be lower because of the new competition.

·       Distribution becomes more intensive and incentives may be offered to encourage preference over competing products.

·       Promotion emphasizes product differentiation.

Decline Stage: As sales decline, the firm has several options:

·       Maintain the product, possibly rejuvenating it by adding new features and finding new uses.

·       Harvest the product - reduce costs and continue to offer it, possibly to a loyal niche segment.

·       Discontinue the product, liquidating remaining inventory or selling it to another firm that is willing to continue the product.

Question.8. How will you alter the marketing mix –intensity &composition ,as a product is entering the maturity stage in the lifecycle? How again the marketing mix will have to be modified ,when the same product ,later on, starts showing sales – decline?

Answer:The marketing mix decisions in the decline phase will depend on the selected strategy. For example, the product may be changed if it is being rejuvenated, or left unchanged if it is being harvested or liquidated. The price may be maintained if the product is harvested, or reduced drastically if liquidated.

A product life cycle is the typical stages a product

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