Q- explain

1-relationship marketing

Answer-

Relationship marketing is defined as a form of marketing developed from direct response marketing which gives importance to customer satisfaction, rather than sales transactions.

Relationship marketing differs from other forms of marketing in that it knows the long term value of customer relationships and extends communication.

It does not focus on sales transaction.

Relationship marketing is growing due to the growing use of internet and mobiles by the consumers.

Famous coffee chain company starbucks has also adopted this strategy to a a very large level.

It gives importance to consumer satisfaction and also gets feedback to improve their relationship with them. This also attracts the consumers to consume more products by the company.

For example, Since they have my birthdate, I can expect a free birthday beverage every year.

Or if I am a regular coffee drinker, I enjoy the rewards. For every 15 drinks I receive a free drink.

If I have registered my number at Dominos, I can get an offer of one on one pizza free during any date of the month.

2- social marketing

Answer-

Social marketing has the main aim of doing social good.

It has no focus on financial achievement of the product.

Social marketing is also used for promotion of the good which is to be launched or which is launched.

It includes social science and social policy which is for commercial and public sector marketing.

Health promotion campaign is also part of social marketing.

Best example is which the Indian government adopted to finish HIV AIDS from the country is distribution of condoms at low price and heavy social advertisement.

Social marketing in commercial sector can be seen in companies like ford and nike.

Nike created an application in which we can design our own boots and purchase that type of boots.

Ford collaborated with instagram in which, we just have to send our pic to them and they will edit it in such a manner that we will be standing next to their new cars.

This type of social marketing has no financial motive.

Its main aim is to develop the brand name and make heavy promotion so that people are aware of the brand.

Q -define the concept of marketing research ?explain marketing research process for

identifying the need of food processor.

Answer-

Marketing research is the process of gathering of information from the customers and consumers and making records of it and analysing it.

It includes generating and evaluating marketing actions, monitoring marketing performance and taking steps to improve the marketing process.

Marketing research is often partitioned into two sets of categorical pairs,

either by target market:

Qualitative marketing research, and

Quantitative marketing research

Consumer marketing research is a form of applied sociology that

concentrates on understanding the preferences, attitudes, and

behaviors of consumers in a market-based economy, and it aims to

understand the effects and comparative success of marketing

campaigns.

Q9-what are the various stages in buyer’s decision making process..explain it with

example

Answer-

These 5 stages are :

Problem/Need Recognition-

This is in general the first stage in which the consumer recognizes that what

essentially is the problem or need and hence accordingly a consumer can

identify the product or kind of product which would be required by the

consumer.

Information Search-

In information search, the consumer searches about the product which

would satisfy the need which has been recognized by the consumer in the

previous stage.

An individual can acquire information through any of the following sources:

Personal Sources - He might discuss his need with his friends, family members, co workers and other acquaintances.

Commercial sources - Advertisements, sales people (in Tim’s case it was the store manager), Packaging of a particular product in many cases prompt individuals to buy the same, Displays (Props, Mannequins etc)

Public sources - Newspaper, Radio, Magazine Experiential sources - Individual’s own experience, prior handling of a

particular product (Tim would definitely purchase a Dell laptop again if he had already used one)

Evaluation of Alternatives –

In this stage, the consumer evaluates the different alternatives which the

consumer comes across, when the consumer was searching for information.

Generally in the information search the consumer comes across quite a few

products and thus now the consumer has to evaluate and understand which

product would be properly suited for the consumer.

Purchase-

After the consumer has evaluated all the options and would be having the

intention to buy any product, there could be now only two things which might

just change the decision of the consumer of buying the product that is what the

other consumer think of the product. Unforeseen circumstances for example in

this case could be financial losses which led to not buying of the product.

Post Purchase Behavior-

After the purchase the consumer might just go through post purchase

dissonance in which the consumer feels that buying the other product would be

better. But a company should really take care of it, taking care of post purchase

dissonance doesn't only spread good words for the product but also increases

the chance of frequent repurchase.

EXAMPLE- MOBILE

Problem/Need Recognition-

The consumer decides whether to take a mobile is a need or a due to some

problem or if he want any facilities he is taking the mobile.

Information Search-.

He searches for information of the product and cellphone specifications he want

and gathers all information about it. Or he will ask his friends for review.

Evaluation of Alternatives –

He looks for same specifications in other companies. For example he want

android phone. HTC and SAMSUNG also provides android cellphones. He will

look for different phones in same categories.

Purchase-

He will purchase the cellphone. He will also think why his friend take the same

product or other friend did not take the same product. May be he cannot afford

that budget of the phone you purchased.

Post Purchase Behavior-

He will like the phone. He will promote about it. And may be chances are there if

he likes the brand say HTC, he will then always buy HTC phones giving company a

regular customer.

He will decide whether the product satisfied his needs or not.

Q. write shorts notes on

1-promotion mix

Answer-

there are five main aspects of a promotional mix. These are:

Advertising - Presentation and promotion of ideas, goods, or services by an identified

sponsor. Examples: Print ads, radio, television, billboard, direct mail, brochures and

catalogs, signs, in-store displays, posters, motion pictures, Web pages, banner ads, and

emails.

Personal selling - A process of helping and persuading one or more prospects to

purchase a good or service or to act on any idea through the use of an oral

presentation. Examples: Sales presentations, sales meetings, sales training and incentive

programs for intermediary salespeople, samples, and telemarketing. Can be face-to-face

selling or via telephone.

Sales promotion - Media and non-media marketing communication are employed for a

pre-determined, limited time to increase consumer demand, stimulate market demand

or improve product availability. Examples: Coupons, sweepstakes, contests, product

samples, rebates, tie-ins, self-liquidating premiums, trade shows, trade-ins, and

exhibitions.

Public relations - Paid intimate stimulation of supply for a product, service, or business

unit by planting significant news about it or a favorable presentation of it in the

media. Examples: Newspaper and magazine articles/reports, TVs and radio

presentations, charitable contributions, speeches, issue advertising, and seminars.

Direct Marketing is a channel-agnostic form of advertising that allows businesses and

nonprofits to communicate straight to the customer, with advertising techniques

such as mobile messaging, email, interactive consumer websites, online display ads,

fliers, catalog distribution, promotional letters, and outdoor advertising.

2-BCG matrix

Answer-

This helps the company allocate resources and is used as an analytical tool

in brand marketing, product management, strategic management, and portfolio

analysis.

Cash cows is where company has high market share in a slow-growing industry. These

units typically generate cash in excess of the amount of cash needed to maintain the

business. They are regarded as staid and boring, in a "mature" market, and every

corporation would be thrilled to own as many as possible.

Dogs, more charitably called pets, are units with low market share in a mature, slow-

growing industry. These units typically "break even", generating barely enough cash to

maintain the business's market share. Though owning a break-even unit provides the

social benefit of providing jobs and possible synergies that assist other business units,

from an accounting point of view such a unit is worthless, not generating cash for the

company.

Question marks (also known as problem children) are business operating in a high

market growth, but having a low market share. They are a starting point for most

businesses. Question marks have a potential to gain market share and become stars,

and eventually cash cows when market growth slows.Question marks must be analyzed

carefully in order to determine whether they are worth the investment required to grow

market share.

Stars are units with a high market share in a fast-growing industry. They are successful

question marks and become a market leader in a high growth sector. The hope is

that stars become next cash cows. Stars require high funding to fight competitions and

maintain a growth rate. When growth slows, if they have been able to maintain their

category leadership stars become cash cows, else they become dogs due to low relative

market share.

To have success:

stars whose high share and high growth assure the future;

cash cows that supply funds for that future growth; and question marks to be converted

into stars with the added funds.

Q. write shorts notes

1-PEST analysis

Answer-

PEST analysis (Political, Economic, Social and Technological analysis) describes a

framework of environmental factors used in the environmental scanning component

of strategic management.

The basic PEST analysis includes four factors:

Political factors are basically to what degree the government interfer in the economy.

Specifically, political factors include areas such as tax policy, labor law, environmental

law, trade restrictions, tariffs, and political stability. Political factors may also include

goods and services which the government wants to provide or be provided (merit

goods) and those that the government does not want to be provided.

Economic factors include economic growth, interest rates, exchange rates. These factors

have major impacts on how businesses operate and make decisions. For example,

interest rates affect a firm's cost of capital and therefore to what extent a business

grows and expands. Exchange rates affect the costs of exporting goods and the supply

and price of imported goods in an economy.

Social factors include the cultural aspects and include health consciousness, population

growth rate, age distribution, career attitudes and emphasis on safety. Trends in social

factors affect the demand for a company's products and how that company operates.

For example, an aging population may imply a smaller and less-willing workforce (thus

increasing the cost of labor). Furthermore, companies may change various management

strategies to adapt to these social trends (such as recruiting older workers).

Technological factors include technological aspects such as R&D activity, automation,

technology incentives and the rate of technological change. They can determine barriers

to entry, minimum efficient production level and influence outsourcing decisions.

Furthermore, technological shifts can affect costs, quality, and lead to innovation.

Q-if you are introducing following product in market for your company which pricing

strategy will you adopt and why?

Lemon juice-

My company’s pricing strategy is to sell a premium product at a value price.

Price levels are generally high in the rural areas due to transportation cost.

The factory is set outside the cities to reduce the installation other costs.

We look for government to give subside on our product since it’s a health drink.

The price is cities will be

Rs. 35 for 1000 ml of bottle

Rs. 18 for 500 ml of bottle.

Compared to local competitors, these prices are relatively low and will attract

positive attention from both locals and tourists.

There is an excess supply of food and beverage retailers in cities and value pricing of

my juice will ensure great demand for the product.

Advertisement will be done through posters, radio, samples, word of mouth, and social networking websites.

Lemom juice is projected to have a Profit Margin of 12%—33% greater than industry averages.

Cell phones-

My company’s pricing strategy is to sell a premium product at a value price.

Price levels are generally high in the rural areas due to transportation cost.

The factory is set outside the cities to reduce the installation other costs.

We look for government to pay less tax since all electronic are produced within the

country and not imported anyting

The price is cities will be

Rs. 10,000 for blackberry 9220

Rs. 35,000 for blackberry Z-10

Compared to local competitors, these prices are relatively low and will attract

positive attention from both locals and tourists.

There is an excess supply of handsets to retailers in cities and value pricing of my

cellphones will ensure great demand for the product.

Advertisement will be done through posters, radio, samples, word of mouth, and social networking websites.

My company’ cellphones is projected to have a Profit Margin of 29%—53% greater than industry averages.

Luxury Watches-

My company’s pricing strategy is to sell a premium product at a value price.

Price levels are generally high in the rural areas due to transportation cost.

The factory is set outside the cities to reduce the installation other costs.

We look for government to grant us less tax while exporting the watches.

The price is cities will be

Rs.7500 for leather band watches

Rs. 12500 for steel band watches

Compared to local competitors, these prices are relatively low and will attract

positive attention from both locals and tourists.

There is an excess supply to retailers in cities and value pricing of watches will ensure

great demand for the product.

Advertisement will be done through posters, radio, samples, word of mouth, and social networking websites.

watches is projected to have a Profit Margin of 28%—33% greater than industry averages.