MBA203 - Marketing Management

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ASSIGNMENT

DRIVE	SPRING 2017
PROGRAM	Master of Business Administration – MBA
SEMESTER	II
SUBJECT CODE & NAME	MBA203 - Marketing Management
BK ID	B1629
CREDITS	2, 4
MARKS	30 marks each

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.

Assignment Set -1

Questions

Question. 1. Define Marketing and various marketing orientations.

Answer: Market orientation is a company philosophy focused on discovering and meeting the needs and desires of its customers through its product mix. Unlike past marketing strategies that concentrated on establishing selling points for existing products, market orientation works in reverse, attempting to tailor products to meet the demands of customers. In essence, market orientation can be thought of as a coordinated marketing campaign between a company and its customers.

As was proved in the recent history of the automobile

Question. 2. Write short notes on Environmental Scanning and Implications of Inflation.

Answer: Environmental Scanning: Environmental scanning is the acquisition and use of information about events, trends, and relationships in an organization's external environment, the knowledge of which would assist management in planning the organization's future course of action. Depending on the organization's beliefs about environmental analyzability and the extent that it intrudes into the environment to understand it, four modes of scanning may be differentiated: undirected viewing, conditioned viewing, enacting, and searching. We analyze each mode of scanning by examining its characteristic information needs, information seeking, and information use behaviours. In addition, we analyze

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: The Consumer or Buyer Decision Making Process is the method used by marketers to identify and track the decision making process of a customer journey from start to finish. It is broken down into 5 individual stages which we have decided to demonstrate with our latest decision making journey surrounding some rather sorry looking trainers.

Stage 1 Problem Recognition1 – Problem Recognition (I need new trainers)

The first stage of the process is working out

Assignment Set -2

Questions

Question. 1. Explain Product Life Cycle (PLC)

Answer: The product life cycle describes the period of time over which an item is developed, brought to market and eventually removed from the market. The cycle is broken into four stages: introduction, growth, maturity and decline. The idea of the product life cycle is used in marketing to decide when it is appropriate to advertise, reduce prices, explore new markets or create new packaging.

First, a product idea is implemented during the introduction phase, and the idea undergoes research and development. If the idea is determined to be feasible and potentially profitable, the product is produced, marketed and rolled out in the

Question. 2. What do you mean by Brand? Enlist various advantages of Branding.

Answer: The word “brand” is revealed from the Old Norse word “brandr” which means to burn as brands were and still are the means by which livestock owners mark their animals to identify ownership said Keller (2003).Building and maintaining a brand is the critical task for marketing managers as they need to consider lots of aspects to make the brand successful they added. A strong brand name is the tool to dominate the market and to have sustainable competitive advantage which is vital for any business growth.

Question. 3. Explain Advertising. Also explain any 12 types of Advertising.

Answer: Advertising has evolved into a vastly complex form of communication, with literally thousands of different ways for a business to get a message to the consumer. Today's advertiser has a vast array of choices at his or her disposal. The Internet alone provides many of these, with the advent of branded viral videos, banners, advertorials, sponsored websites, branded chat rooms and so much more.

1.       Online Advertising (aka Digital): If you see

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