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Xaviers Institute of Business Management Studies
Subject Title: Brand Management
Maximum Marks: 80
Instructions:
1. Attempt any 5 questions. All
questions are for 16 Marks.
2. Make suitable assumptions
wherever necessary.
Q.1 (a) Explain the eight
different questions that a product manager needs to
answer to analyse current and
potential customers. Explain each question with the help of a product category.
Answer: Here are some key questions you need to answer in
order to make the right decision:
1. What is the current size of the market? What is the
potential size of the market? Will it
grow or contract? Why?
2. How much of the market share can we conservatively
take? What’s that worth to our
organization, both financially and otherwise?
3. How well does our product fit into
Question. 1 . (b) Differentiate
between potential and forecast.
What are the objectives behind
estimation of (i) market potential and (ii) sales forecasting?
Explain any two methods of
estimating (i) market potential and (ii) sales forecasting.
Answer:
Different companies call the process of forecasting the need for
future goods or services different things. Some refer to the process as sales
forecasting, while others call it demand forecasting or product forecasting. No
matter what terms are used, market demand, market potential and sales
forecasting are inextricably
Q.2 (a) Define competitor.
Explain the four bases of competition and four levels
of competition. Supplement your
answer with example(s).
Answer : Any person or entity which is a rival against
another. In business, a company in the same industry or a similar industry
which offers a similar product or service. The presence of one or more
competitors can reduce the prices of goods and services as the companies
attempt to gain a larger market share. Competition also requires
(b) Explain the three major factors in
assessing the underlying attractiveness of a product category.
Answer: Compelling
Reason to Buy
If no one wants to buy it, it isn’t worth anything…So the
first thing you need to learn about a market opportunity is whether someone
will really want what you have to offer. If the compelling reason to buy is low
– it’s simply a ‘No-Go’, because demand will not fly.
To evaluate this key factor, you need to look deeply into
three important questions:
Is there a real unmet need?
Can you provide an effective solution for
Q.3 What are the benefits of a
successful marketing strategy? Which are the seven parts of a marketing
strategy of a product? Explain the first five parts of this strategy with an
example, in detail.
Answer: A marketing strategy refers to the methods you
implement to promote your products and services to your target audience. It can
include website content, television and radio advertising, and content launched
on social media platforms. Developing an effective marketing strategy for your
business is the key to growth, expansion, and long-term success. The challenge,
however, is that developing the right marketing strategy can
Q.4 (a) What do brands mean to
you? What roles does a brand play for a manufacturer and a consumer? With examples,
explain the different challenges a brand manager faces today.
(b) Choose a brand having its origin in India.
Explain how it can be assessed
on the basis of Customer Based
Brand Equity (CBBE) model.
Q.5 (a) Pick a product or service
category basically dominated by two main brands. Evaluate the positioning of each
brand. Who are their target markets? What are the main points of parity and
points of difference?
Answer:
Product category: Smartphone operating systems
2 Main Brands: Apple iOS5 and Google Android
1. Who are the target markets?
·
iOS5: 20-something to middle aged, students, urban
lifestyle, working
professionals, hip and arty,
those who “Think Different”, higher levels of
disposable income (mid to upper
income bracket), high brand loyalty
·
Android: late teens to pre-middle aged
(~late thirties), more scientific than arty,
value “open” systems (i.e. you
(b) Select a brand and identify all its brand
elements that contribute towards development of its brand equity. Explain the
role of each element towards development of brand equity of that brand.
Answer: Brand equity is the result of a process which
leads to a creation of a unique and distinct brand identity. These brand
identifiers are referred to as brand identifiers. Brand identification can be
done through various ways; for example, Unique Selling Proposition (USP), Logo,
Style, Brand Ambassador, Etc. Brand elements facilitate the process of consumer
brain mapping and play a
Q.6 (a) If you had to launch a
fast food restaurant in your city or town, what kind
of marketing programmes will you
design to build strong brand equity of
the fast food restaurant?
(b) Choose a brand and identify all its
marketing communication materials.
How effectively has the brand
mixed and matched the marketing
communication material?
Q.7 (a) Define brand equity
management system. Explain the three steps of
implementing brand equity
management system.
(b) Enlist the quantitative and qualitative
research techniques to identify
potential sources of brand
equity. Explain any one in detail.
Q.8 (a) Define brand product
matrix. Select a firm having multiple brands and
product categories and then
identify its brand product matrix. Explain
breadth of a branding strategy?
(b) Define brand extension. Explain the steps
to be undertaken for
successfully introducing brand
extensions.
Q.9 (a) Give reasons for
companies to market their brands globally. Explain the
disadvantages of global marketing
programmes.
Answer : What is Global Marketing?
Global
marketing is basically the beginning, middle, and end of how a business
organizes, creates, positions, and advertises its products and services on a
global scale. Giant corporations have always had their hands in global
marketing through having operations, representatives, and employees in other
countries.
Through social media platforms, websites, and
other online tools, small businesses can also participate in the process of
global marketing.
Question.9. (b) With examples,
explain how global brands implement the strategies of localization and
standardisation.
Answer: Standardization:
Standardization is a marketing strategy aimed
to create uniformity in order for offerings to be viewed the same across all
platforms. Standardization refers to companies using the same or similar
marketing materials regardless of cultural or linguistic diversities amongst
the audience being targeted. This form of marketing develops a cohesive appeal
allowing consumers to develop a trust in the brand and products. Buyers are
fully aware of what they are purchasing regardless of the language they speak
or where the product is being purchased. Standardization has it’s advantages,
however the rapid growth in diversity
Dear students, Get assignments and Case studies
Do send your query at :
or call us at :08263069601
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