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Marketing Management
Part A
1. What is MarketingThe process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.
2. Who is a customerThe consumer who is regular is a customer. A consumer is the ultimate user of goods, ideas or services. Also the buyer or decision maker, for example, the parent selecting children's books is the consumer.
3. What is productA bundle of attributes or features, functions, benefits and uses capable of exchange, usually in tangible or intangible forms. The library's products include materials to use, questions answered, storyhours, online searching, etc.
4. What is brand positioningPositioning the brand in the minds of the customer. Positioning is the act of designing the company’s offering and image to occupy a distinctive place in the the target market’s mind.
5. Who influences individual buyerReference Groups, friends and family and society.
6. Define serviceAny act or performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything.
7. What is demand estimationDemand forecasting is the art of estimating or anticipating what buyers are likely to buy in the future under a given set of conditions. Demand estimation is the total volume of a product that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program.
8. Who is a satisfied customerA satisfied customer is a customer’s feeling of pleasure resulting from comparing a product’s perceived performance or outcome in relation to his /her expectations. Product Performance > Expectations.
9. What is information technologyThe use of computers and internet in the marketing decision process in information technology. IT plays a major role in social net work marketing, and e- marketing.
10. What are the advantages of web based marketing?Using internet is web based marketing and the various advantages are wide reach, less cost, high speed, etc.
1. What is product conceptIn product concept , product quality is being given more importance. The basic
assumption is customer is willing to pay a higher price for a unique good quality product.
2. What is a global environment?The political, economic, social, cultural and technological environment which
prevails in the entire world is the global environment.
3. Define introduction stage of PLCIntroduction stage of PLC is the product’s entry stage in to the market which
is being earmarked by less sales, more expenditure towards promotion ( for creating awareness through advertisements ) and company incurring loss because of huge expenditure.
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Sales & Profit Life CyclesSales & Profit Life CyclesSales & Profit Life Cycles
IntroductionIntroduction GrowthGrowth MaturityMaturity DeclineDecline
TimeTimeSale
sSa
les
& & p
rofit
spr
ofits
($)
($)
4. What are the socio economic factors in segmentation.When the market is being segmented on the social class ( upper, middle and
lower) and on the basis of income , it is being called as socio- economic factors in segmentation.
5. Who is an industrial buyerAn industrial buyer buys in large quantity and the purpose of purchase is not
for end consumption/use but for the purpose of re-production.
6. What is service marketingMarketing of services is Service marketing. A service is “Any act or performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Eg: Banks, Hospitals, Educational Institutions, Tourism, etc.
7. What is marketing researchIs the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.
8. Who is a satisfied customerA satisfied customer is a customer’s feeling of pleasure resulting from comparing a product’s perceived performance or outcome in relation to his /her expectations. Product Performance > Expectations.
9. What is online marketingMarketing through internet is online marketing. The other names are viral marketing, web based marketing, e-marketing, etc. A company’s efforts to inform buyers, communicate, promote, and sell its products and servicesover the inter net. The various advantages are wide reach, less cost, high speed, etc. Eg: Job portals like Timesjob.com, Naukri.com, etc.
10. What is marketing challenge?A marketing challenge is a difficulty or a problem a company faces in
marketing its products to its end users.
What is marketing Marketing is defined as a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others.
1. What are the factors affecting marketing environment?The factors affecting Demographic environment are population, population mix, household patterns, etc. Economic environment are income distribution, subsistence economies. Raw material exporting economies, etc Natural environment are pollution, changing role of government, cost, etc.2. What is promotion mix? Mention promotion mix elements?Promotion mix is the communication mix of a company which enable it to increase its sales. Promotion mix consists of advertisement, sales promotion, direct marketing, public relations and direct selling.
3. Define brandA brand is a name , term, sign, symbol or design or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
4. What are the different types of buyer behaviour? Mention the parameter used to classify these types?
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Four Types of Buying Behavior
Four Types of Buying Four Types of Buying BehaviorBehavior
ComplexBuying
Behavior
Dissonance-Reducing Buying
Behavior
Variety-SeekingBehavior
HabitualBuying
Behavior
Significantdifferences
betweenbrands
Fewdifferences
betweenbrands
HighInvolvement
LowInvolvement
5. Expand MIS and MDSSMIS is Management Information System and MDSS is Management Decision Support System. MIS consists of people, equipment and procedures to gather, sort, analyze, evaluate, and distribute information to marketing decision makers. MDSS is a coordinated collection of data systems, tools and techniques with supporting software and hardware by which an organization gathers and interprets relevant information from business and the environment and turns it into a basis for marketing action.
6. What are the applications of marketing research?Marketing research has various applications like advertising research, product research, consumer research , etc which helps the marketers to take major decisions in marketing and to understand and serve the customer in a better way.
7. What are the stages in marketing research process?
‘the systematic gathering, recording and analysing of data about problems relating to the marketing of goods and services’
Set objectivesDefine research ProblemAssess the value of the researchConstruct a research proposalSpecify data collection methodSpecify techniques of measurementSelect the sampleData collectionAnalysis of resultsPresent in a final report
8. What is a worldwide information system?World wide information system helps companies to know the global markets and its trends by the click of the button.
9. Name any four companies involved with web based marketing programmes.
Amazon.com, Dell Computers, Naukri.com, Shaadi,com., Indian Railways (for ticket booking, enquiry, etc.), Satyam Cinemas ( Ticket booking)
1. Differentiate between selling and marketing
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Market Integratedmarketing
Profits throughcustomer
satisfactionCustomer
needs
(b) The marketing concept
Factory Existingproducts
Selling andpromotion
Profits throughsales volume
Startingpoint Focus Means Ends
(a) The selling concept
Customer Delivered ValueCustomer Delivered Value
2. Illustrate the product hierarchy with an example.
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Five Product LevelsFive Product LevelsFive Product Levels
Potential product
Augmented product
Expected product
Basic product
Core benefit
Example is Insurance. 3. What is demarketing Consumers may be attracted to products that have undesirable social consequences ( Cigarettes, Liquor, etc) so Government use to adopt demarketing strategy in order to reduce the unwholesome demand of these products.
4. What are the steps in consumer decision making
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Consumer BuyingProcess
Consumer BuyingConsumer BuyingProcessProcess
ProblemProblemrecognitionrecognition
Informationsearch
Evaluation ofalternatives
Purchasedecision
Postpurchasebehavior
5. Explain the concept of repositioning.Reposition changing the position of the product/ service in the mind of the customer. UTI bank repositioned as Axis bank.
6. What do you understand by the term product mix?
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Product MixProduct MixProduct Mix
Width - number of different product lines
WidthWidth - number of different product lines
Length - total number of items
within the lines
LengthLength - total number of items
within the lines
Depth - number of versions of each
product
Depth Depth - number of versions of each
product
Product Mix -all the product
lines offered
Product Mix Product Mix --all the product
lines offered
7. What do you mean by marketing process?
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Simple Marketing SystemSimple Marketing System
Industry(a collection
of sellers)
Market(a collection
of Buyers)
Goods/services
Money
Communication
Information8. When is penetration pricing a good option? Penetration pricing is a good pricing option for a new product in its introduction stage and it is also suitable for a price sensitive target segment.
9. What are the distinguishing characteristics of services vis a vis products? Service is intangible, inseparable, variable and perishable whereas a product is tangible, separable, fixed in terms of product features and imperishable.
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ServicesServices
InseparabilityServices cannot
be separatedfrom theirproviders
InseparabilityServices cannot
be separatedfrom theirproviders
PerishabilityServices cannot
be stored forlater sale or use
PerishabilityServices cannot
be stored forlater sale or use
IntangibilityServices cannotbe seen, tasted,
felt, heard, orsmelled before
purchase
IntangibilityServices cannotbe seen, tasted,
felt, heard, orsmelled before
purchase
VariabilityQuality of
services dependson who providesthem and when,where, and how
VariabilityQuality of
services dependson who providesthem and when,where, and how
10. What is consumerism?Consumerism is consumer movement which means it is an organized movement of citizens and government to strengthen the rights and powers of buyers in relation to sellers. COPRA is the COnsumer PRotection Act, 1986 in India operating to protect the rights of consumers.
1. Define the Marketing Concept.Marketing concept Focuses on needs/ wants of target markets & delivering value better than competitors.
2. How does the concept of Value Cost Gap facilitate customers.
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Determinants of Customer Delivered Value
Determinants of Customer Delivered Value
Image valueImage value
Personnel valuePersonnel value
Services valueServices value
Product valueProduct value
Totalcustomer
value
Totalcustomer
value
Monetary costMonetary cost
Time costTime cost
Energy costEnergy cost
Psychic costPsychic cost
Totalcustomer
cost
Totalcustomer
cost
Customerdelivered
value
Customerdelivered
value
3. Define Brand positioning
Positioning is the act of designing the company’s offering and image to occupy a distinctive place in the the target market’s mind.
4. How does Margin turnover framework operate in retailing.For stocking the goods and distributing it to the end consumers, dealers charge commission which is called as margins from the manufacturers. And every dealer is more bothered about a minimum turnover of products which will result in better margin. This is margin turnover framework .
5. How does ‘Psychoanalytic model’ explain buyer behaviour?
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Model of Buying BehaviorModel of Buying BehaviorModel of Buying Behavior
Buyer’s decisionprocessProblem recognitionInformation searchEvaluationDecisionPostpurchase
behavior
OtherstimuliEconomicTechnologicalPoliticalCultural
Buyer’scharacteristicsCulturalSocialPersonalPsychological
Buyer’s decisionsProduct choiceBrand choiceDealer choicePurchase timingPurchase amount
MarketingstimuliProductPricePlacePromotion
6. How does ‘Franchising’ help in service marketing?Franchising is licensing. The franchisor offers a complete brand concept and operating system, in return , the franchisee invests in and pays certain fees to the franchisor. McDonalsd’s , KFC have entered scores of countries by franchising their retails concepts and making sure their marketing is culturally relevant. 7. What is the scope of ‘customer database’?Customer data base is the collection of customer data which helps corporates to have better customer relationship, customer retention and customer analysis for marketing decisions. It also helps in customers past purchases, past volumes, prices, and profits.
8. What are the syndicated research services?These firms gather consumer and trade information which they sell for a fee. For example , the National Council for Applied Economic Research (NCAER), AC – Neilson, IMRB, etc.
9. What are the different types of web sites used in marketing?SOCIAL NETWORKING WEBSITES, JOB PORTALS, MARRIAGE PORTALS, TRAIN, BUS AND CINEMA TICKET BOOKING PORTALS.
10. Define ‘buying out’ brands.When a big company buys out another small brand that is buying out brands. Recently Godrej has purchased an Indonesian brand Megasari. This is an example of buying out of brands.
1. What is production concept?Consumers prefer products that are widely available and inexpensive, so produce products in large quantities through mass production and ensure products at cheaper price.
2. What is selling concept?Consumers will buy products only if the company aggressively promotes/sells these products so companies need to adopt aggressive selling strategy.
3. What is market testing It is one of the important step in New product development process.
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Consumer-Goods Market TestingConsumerConsumer--Goods Market TestingGoods Market Testing
Sales-Wave
Research
Test offering trail toa sample of consumers insuccessive
periods.
Sales-Wave
Research
Test offering trail toa sample of consumers insuccessive
periods.
SimulatedTest Market
Test in a simulated shopping environment
to a sample of consumers.
SimulatedTest Market
Test in a simulated shopping environment
to a sample of consumers.
StandardTest Market
Full marketing campaignin a small number of representative cities.
StandardTest Market
Full marketing campaignin a small number of representative cities.
Controlled Test Market
A few stores that have agreed to carry newproducts for a fee.
Controlled Test Market
A few stores that have agreed to carry newproducts for a fee.
4. State STP strategySTP stands for Segmenting, Targeting and Positioning.
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Steps in Market Segmentation, Targeting,and Positioning
Steps in Market Segmentation, Steps in Market Segmentation, Targeting,and PositioningTargeting,and Positioning
1. Identifysegmentationvariables andsegment themarket
2. Develop profiles ofresultingsegments
MarketMarketSegmentationSegmentation
3. Evaluateattractivenessof eachsegment
4. Select thetargetsegment(s)
MarketMarketTargetingTargeting
5. Identifypossible
positioningconcepts foreach target
segment
6. Select,develop, andcommunicate
the chosenpositioning
concept
MarketMarketPositioningPositioning
5. Define reference groupsAll the groups that have a direct or indirect influence on a person’s attitudes of buyer behaviour. Eg: Family, Friends, Celebrities – Sports and cinema, etc.
6. What is post purchase behaviour?The behaviour exhibited by consumers after the purchase of the product is post purchase behaviour. A customer can either be satisfied or dissatisfied after the purchase. In case of dis-satisfaction a customer will behave in the following
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How Customers Use orDispose of Products
How Customers Use orHow Customers Use orDispose of ProductsDispose of Products
Product
Get rid of ittemporarily
Get rid of itpermanently
Keep it
Loan it
Rent it
Store it
Convertto new
purpose
Use fororiginalpurpose
Give itaway
Trade it
Sell it
Throw itaway
Direct toconsumer
Tointermediary
Throughmiddleman
To beused
To be(re)sold
7. What is Adhoc research?An unplanned research is a adhoc research which is being done all of a sudden. An informal research is needed at certain times of immediate or quick feedback on certain marketing issues, such research is a adhoc research.
8. What do you mean by pilot study?Pilot study means testing the questionnaire in the marketing research process to a few selected respondents. This study is done to test the validity of the questionnaire in terms of understandability.
9. Define Internet marketing?Marketing through internet is internet marketing. The other names are online marketing, viral marketing, web based marketing, e-marketing, etc. A company’s efforts to inform buyers, communicate, promote, and sell its products and servicesover the inter net. The various advantages are wide reach, less cost, high speed, etc. Eg: Job portals like Timesjob.com, Naukri.com, etc.
10. What are B2B exchangesBusiness to Business transactions are called B2b exchanges. When a business firm buys from another business firm it is called business market. All the business organizations acquire goods and services used in the production of other products or services that are sold, rented or supplied to others.
May 20091. What is a market? What are the types of market?Market is a common place where seller and buyer meet and exchange their goods or services for some agreed value. Types of market – labour market, stock market, commodities market, vegetable market, etc.
2. Distinguish among five types of customer needs?
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Maslow’s Hierarchyof Needs
MaslowMaslow’’s Hierarchys Hierarchyof of NeedsNeeds
Psychological needs(food, water, shelter)Psychological needs(food, water, shelter)1
Safety needs(security, protection)
Safety needs(security, protection)2
Social needs(sense of belonging, love)
Social needs(sense of belonging, love)3
Esteem needs(self-esteem, recognition)
Esteem needs(self-esteem, recognition)
4
Self-actualization
(self-developmentand realization)
Self-actualization
(self-developmentand realization)
5
3. Define value chain.
Value chain is a company’s supply chain and how it partners with specific suppliers and distributors to make products and bring them to markets.
4. What is the difference between company demand and a company sales forecast?Company demand is the total volume of a product that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program.
Company sales forecast is the demand corresponding to the level of company’s marketing expenditure.
5. Explain customer perceived value (CPV)Customer perceived value is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives.
6. Define product positioningPositioning is the act of designing the company’s offering and image to occupy a distinctive place in the the target market’s mind.
7. Explain Cost plus pricingCost plus pricing is total cost of producing the product plus profit is cost plus pricing. Total costs is Sum of the Fixed and Variable Costs for a Given Level of Production.
8. Differentiate between pull and push strategySales promotion is any Short-term Incentives to Encourage Trial or Purchase.Sales promotion strategy for customers is Pull strategy whereas any sales promotion strategy for dealers is push strategy.
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Push Versus Pull StrategyPush Versus Pull Strategy
Producer
Producer
Interme-diaries
Marketingactivities
End usersMarketingactivities
Demand Interme-diaries
Demand
Push Strategy
Pull Strategy
End users
Marketing activities
Demand
9. Write briefly about HypermarketHypermarts/Supermarkets:Large self service outlets, catering to varied shopper needs are termed as Supermarkets. These are located in or near residential high streets. These stores today contribute to 30% of all food & grocery organized retail sales. Super Markets can further be classified in to mini supermarkets typically 1,000 sq ft to 2,000 sq ft and large supermarkets ranging from of 3,500 sq ft to 5,000 sq ft. having a strong focus on food & grocery and personal sales.
10. Write short note on online marketing?
Marketing through internet is online marketing. The other names are online marketing, viral marketing, web based marketing, e-marketing, etc. A company’s efforts to inform buyers, communicate, promote, and sell its products and services over the inter net. The various advantages are wide reach, less cost, high speed, etc. Eg: Job portals like Timesjob.com, Naukri.com, etc.
Nov. 20091. Differentiate selling from marketing
2. Illustrate the product hierarchy with an example
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Five Product LevelsFive Product LevelsFive Product Levels
Potential product
Augmented product
Expected product
Basic product
Core benefit
3. What is demarketing4. What are the steps in consumer decision making5. Explain the concepts of positioning.6. What do understand by the term product mix7. What do you mean by marketing process8. When is penetration pricing a good option9. List out the unique chracterisitics of services10. What is consumerism.
Part –b11. A) Explain marketing concept and compare with selling concept. Give examples
Selling is Consumers will buy products only if the company aggressively promotes/sells these productsMarketing is Focuses on needs/ wants of target markets & delivering value better than competitors
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Market Integratedmarketing
Profits throughcustomer
satisfactionCustomer
needs
(b) The marketing concept
Factory Existingproducts
Selling andpromotion
Profits throughsales volume
Startingpoint Focus Means Ends
(a) The selling concept
Customer Delivered ValueCustomer Delivered Value
Orb) Discuss marketing environment in today’s competitive world.PEST/STEP = macro environmental factors.SWOT/TOWS – micro environmental factors.
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Demographic EnvironmentDemographic Environment
Worldwide Population GrowthWorldwide Population Growth
Population Age MixPopulation Age Mix
Ethnic MarketsEthnic Markets
Household PatternsHousehold Patterns
Educational GroupsEducational Groups
Geographical Shifts in PopulationGeographical Shifts in Population
Shift from Mass Market to MicromarketsShift from Mass Market to Micromarkets
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Political-Legal
Environment
Political-Legal
Environment
IncreasedLegislationIncreased
Legislation
Special-InterestGroups
Special-InterestGroups
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Economic EnvironmentEconomic Environment
Income DistributionIncome DistributionSubsistence economiesSubsistence economies
Raw-material-exporting economiesRaw-material-exporting economiesIndustrializing economiesIndustrializing economies
Industrial economiesIndustrial economies
Savings, Debt, & Credit AvailabilitySavings, Debt, & Credit Availability
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NaturalEnvironment
Higher PollutionLevels
Higher PollutionLevels
Increased Costsof Energy
Increased Costsof Energy
Shortage of Raw MaterialsShortage of
Raw Materials
Changing Roleof GovernmentChanging Roleof Government
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Accelerating Paceof Change
Accelerating Paceof Change
Unlimited Opportunitiesfor Innovation
Unlimited Opportunitiesfor Innovation
IncreasedRegulationIncreasedRegulation
Issues in the TechnologicalEnvironment
Issues in the TechnologicalEnvironment
VaryingR & D Budgets
VaryingR & D Budgets
11. A) Explain brand management practices in India
A brand is a name, term, sign, symbol, or design or a combination of them intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
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An Overview ofBranding Decisions
An Overview ofAn Overview ofBranding DecisionsBranding Decisions
BrandingDecision
•Brand
•No brand
Brand-SponsorDecision
•Manu-facturerbrand
•Distribu-tor(private)brand
•Licensedbrand
Brand-Name
Decision
•Individualbrandnames•Blanketfamilyname•Separatefamilynames•Company-individualnames
Brand-Repositioning
Decision
•Reposi-tioning
•Noreposi-tioning
Brand-StrategyDecision
•Lineextension•Brandextension•Multi-brands•Newbrands•Cobrands
Orb) Discuss the important features of skimming pricing. Give examples
Skimming pricing means fixing a very high price. This is suitable for any new product, any product which has more of technology orientation, etc.Market skimming makes sense under the following conditions:
1. a sufficient number of buyers have a high current demand.2. the unit costs of producing a small volume are not so high that they
cancel the advantage of charging what the traffic will bear.3. the high initial price does not attract more competitors to the market4. the high price communicates the image of a superior product.
13. A) What are the factors that determine customer satisfaction. Explain.
Satisfaction is a person’s feelings of pleasure or disappointment resulting from comparing a product’s perceived performance (or outcome) in relation to his or her expectations.
Orb) Discuss service marketing with particular reference to commercial banks.14. a) State the plan to carry out brand preference study with suitable examples .orb) Explain the contents in a marketing research report with subdivisions
15). A) Discuss online marketing process and its futures in India.
Orb).What are the emerging opportunities and challenges to a marketer of consumer durables.
11a. Explain marketing environment for the business enterprise of consumer goods?
11. How does the subject marketing has interface with other functional areas?12. Explain brand management?13. Discuss Product planning?14. Explain customer satisfaction?15. How does marketing of services assume great significance in business?16. Explain Marketing research?17. Discuss the contents in a marketing research report?18. Explain the features of on line marketing?19. Describe web based marketing programmes?
20. A.What key strategic issues are faced by traditional “brick and mortar” retailer such as Wal Mart, K mart and Office Depot when they go online to sell products?B. Providing customer service appears to be one of the primary challenges for internet marketers. What implication does this have for their “bricks and mortar” companies.
21. What are the objectives for pricing decisions? What methods are used to arrive at pricing decision when the market is competitive?
22. A. Choose a company of your choice and explain how micro environmental factors affecting its operations.B.Discuss the role and importance of marketing department with other functional areas in an organization.
23. A.Suggest sutiable strategies for growth and maturity stage of PLCb. explain the new product development process with examples.
24. A. Discuss the factors affecting the consumer buying behaviour in Indian contextb. what are the distinctive characteristics of services as opposed to goods?
25. A. explain marketing research process with suitable examples.b. explain CRM with suitable examples. Why is it important in modern day business context?
26. A. Explain the concept of product life cycle?
b. How do marketing strategy and marketing mix change across the PLC stages?
27. A. Why is it necessary for a marketer to study the marketing environment? What are the environmental variables to be taken into consideration?b. Outline the stages in new product development.
28.a. Explain market segmentation, targeting, and positioning with a real life example.28.b. explain the channel design process and suggest ways to resolve channel conflicts.
28. A. Discuss the contents of a marketing research report.B. Explain the different types of marketing research. How would you compare consumer marketing research with industrial marketing research.
29. A. Discuss the different online advertising options for a marketer.b. Has marketing changes in the ‘Connected world?’. Discuss the strategy implications of the Internet for marketing.
30. A.Explain the factors to be considered under environment analysis general and specific to business.
31. Describe the value creation and value delivery process in the present day context.
32. What are the approaches in selecting brand names? Bring out the various options in branding.
33. How do physical distribution and marketing logistics practices suit a systems apporach?
34. Briefly explain the speciality in business buying due to characteristics of maket/product.
35. Enumerate the expanding services in range, sophistication and complexities.36. Discuss about the market based and process based methods of assessing
competitive advantages.37. How does maket driven quality approach evolve? Explain the customer
satisfaction measurement process.38. What are the benefits of web marketing? Illustrate the tasks in establishing
web marketing?39. Examine the marketing challenges of the new economy to the marketers.40. A.Explain marketing environment in detail.
b. “The market place isn’t what it used to be” - Discuss.
41. A. Explain the components of the marketing mix in detail42. Write short notes on
a. Brand equity b. Brand Portfolios. C. Brand positioning. D. Brand extension.
43. Explain the factors influencing consumer behaviour44. Explain the different categories of service mix in detail
45. Describe the different types of research methods in detail46. Explain the key elements in report writing.47. Discuss the techniques of acquiring the customers on the web48. Discuss the advantage and limitations of online marketing.
June 200949. A. i. Marketing planning and control can be considered as the nerve center of
marketing management. Elucidate.b. Explain marketing mix? Comment in brief upon its
50.a. i. Explain the stages in the PLCii. Why new products fail? What are the criticl forces influencing the
management of products? b.i. Explain the concept of brand equity ii. Supply chain management is the broader concept of physical distribution. Explain the concept of supply chain management.
51.a.i. Explain theory of human motivation and how this might be related to marketing?ii. Explain consumer Buying Behaviour process?51.b. A manufacturer is contemplating introducing a product that is inferior to its competition in its performance, desing and functionality. 52. a. Discuss the merits of Customer relationship marketing. Describe in detail a company who is in business today that models relationship marketing.53. Explain marketing information system from what sources is the marketing information system developed?54. a. i. A new trend in marketing is towards consumerisation. Describe what customerisation is and how marketers are using it.ii. Explain the impact of the internet on markets.
Nov. 200955. Product life cycle56. Marketing Strategy and Marketing mix change across product Life cycle stages.57. Why is it necessary for a marketer to study the marketing environment? What are the environmental variables to be taken into consideration? Describe in detail. 58. Stages in New Product Development59. Explain Market segmentation, targeting and positioning with a real life example.60. Marketing Channel design process.61. Discuss the content of a Marketing Research Report62. How does consumer Marketing Research differ from Industrial Marketing Research? Explain in detail.63. Discuss the different on line advertising options for a marketer.
64. How marketing changed in the connected world? Discuss the strategy implications of the Internet for marketing?
Conducting Market research and forecasting Demand1 What Constitutes A Good Marketing Research Process?
Ans: Effective Marketing Research Process Include Six Steps:- These Steps Are:-
1. Define The Problem, The Decision Alternative, and The Research Objective.
2. Develop The Research Plan.3. Collect The Information.4. Analyze The Information.5. Present The Findings.6. Make The Decision.
A Good Marketing Research Process is Characterized By 1. Scientific Method2. Creativity3. Multiple Research Method.4. Accurate Model Building5. Cost Benefit Analysis6. Healthy Specticism7. Ethical Focus
In Research Process a company has to decide to collect their own data or they can use secondary data.
There are several research Approaches Which Should Decided By companies1. Observational2. Focus Group3. survey4. behavioral Data5. experimental
Q: 2 What Are the Components of Marketing Information System?
Ans:-A marketing information system (MIS) consists of people, equipment, and
procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision Makers.
A marketing intelligence system is a set of procedures and sources used by managers to obtain everyday information about developments in the marketing environment
An Internal Record Systems: - Marketing Manager Rely On data From Internal Source about Order, sales, Prices, cost, inventory, Receivables, Payables and So on.
A Marketing Research Method: - Which Provides Various Secondary and Primary Data To Marketing Manager For Different Future Plan And Forecasting The Demand and For Supporting Decision.
Q: 2- What Are the Types of Demand?
Demand Are Of Basically Two Types:1. Company Demand2. Market demand
To Estimate Current Demand Companies Attempt to determine 1. Total Market Potential2. Area Market potential3. industry sale and4. Market Share
Que : What is "Measuring of Marketing Productivity"? Why is it required?
Solution:
What:
Measuring of marketing productivity is the measure of the efficiency & effectiveness of the marketing activity. It gives clear picture where the expense in for the marketing activity has gone.
Why:
1. In a recent Accenture survey, 70% of the marketing executive stated that they did not have control on the return on their their marketing investments.
2. Another study reveals that 63% of the senior management said that they were dis-satisfied with their marketing performance measuring system & wanted pre-&-post analysis for the impact of marketing programs.
Que: Explain exactly how is the 'Measuring of Marketing Productivity' is done?
Solution:
There are two complementary approaches for Measuring of Marketing Productivity. They are-
A.Marketing metrics.
B. Measuring marketing plan performance.
C. Profitable Analysis.
D. Marketing-Mix Modeling.
A.Marketing Metrics:
1.Marketing metrics is the set of measures that helps firms to quantify, compare & interpret their marketing performance.
2. It can be used by the brand managers to design marketing programs & by senior management to decide on financial association.
3.Marketing metrics relate to:
3.1 Customer level: concern such as their attitude & behaviors.
3.2 Brand level: Concern such as market share, relative price premium or profitability.
4. Marketing metrics also concerned with: internal & external factors.
Internal: Awareness of goals, Commitment to goals, Active innovation support, Resource adequacy, staffing, Autonomy, willingness to change.
External: Awareness, market share, relative price, number of complaints, consumer satisfaction, loyalty, relative perceived quality.
5.firms usually try to maximize these above factors so as to reduce the expenses on the marketing. In actual, a summary set of these internal & external factors is assembled in the 'marketing dashboard' for synthesis & interpretation.
6. On this dash board a 'customer performance scorecard' records how well the company is doing year after year.
Where as 'stakeholder-performance scorecard' tracks the satisfaction of various constituencies who have a critical interest in & impact on company's performance, like-employee, bank, distributors, stock-holders.
B. Measuring marketing plan performance:
Marketers can use four tools to check on plan performance.
B1.Sales analysis.
B2.Market share.
B3.Marketing expense to sales analysis.
B4.Financial analysis.
B1.Sales analysis: Sales analysis consists of measuring & evaluating actual sales in relation to goals. Two specific tools are used in sales analysis.
a) Self variance analysis: measures the relative contribution of different factors to a gap in sales performance.
b) Micro sales analysis: looks at specific products, territories, & so forth that failed to produce expected sales.
B2.Market share: Company sales do not reveals how well the company is performing relative to the competitors. For this purpose, management need to track its market share.
Market share analysis can be measured in three different ways-
a) Overall market share: is the company's sales expressed as a percentage of total market share.
b) Served market share: is the company's sales expressed as a percentage to its served market. Served market is all buyers who are able & willing to buy the product.
c) Relative market share: It can be expressed as market share in relation to its largest competitor.
B3.Marketing expense to sales analysis:
1. Annual-plan control requires making sure that the company is not overspending to achieve its sales goals.
2.Any firm expense on: sales factors, Advertisements, Sales promotions, Market research, Sales administration, etc.
3. For easy & frequent analysis, it is expressed as 'control chart', where-in time period is projected on x-axis & Expenses on y-axis.
B4.Financial analysis:
1.The expense -to-sales ratios should be analyzed in an overall financial framework to determine how & where the company is making its money.
2.Markers are increasingly using the financial analysis to identify to find the profitable strategies beyond sales building.
3. Management uses the financial analysis to identify the factors that affects the company's 'rate of return on net worth'.
C. Profitable Analysis:
1. Companies should measure the Profitability of their products, territories, customer groups, segments, trades channels & order sizes.
2.This information can help management to determine whether any product or any marketing activities should be expanded, reduced or eliminated.
D. Marketing-Mix Modeling:
1.Marketing mix models analyze data from variety of sources, such as retailer scanner data, company shipmen data, pricing, media, & promotional spending data, to understand more precisely the effect of specific marketing activities..
2.to deepen the understanding, multivariate analyses are conducted to sort through how each marketing element influences the marketing out-come of interest such as brand sales or market shares.
ANALYZING BUSINESS MARKETSQ. What is Organizational Buying and explain their Characteristics?
Organizations buying as the decision making process by which formal organizations establish the need for purchased products and services and identify and evaluate, nad choose among alternative brands and suppliers.
The various characteristic Organizational buying are given below:-
1. Fewer larger Buyers:-The business marketer normally deals with far fewer, much larger buyer that the consumer marketer does. These are B2B markets(suppliers- buyer) where there are big sales on Small business
1. Close supplier-customer relationship:- As supplier has smaller customer base and the importance and power of the
larger customers, they have to customize their offerings to individual business customer needs. Business buyer often select supplier who often buy from them.
2. Professional purchasing:- Business goods are often purchased by trained purchasing agents, who must
follow organizational purchasing policies, constraints and requirements. Business markets have to provide greater technical data about their product and there advantages over competitors products.
2. Several buying influences:-People influence business buying decisions. Buying committees consists of
technical experts and even senior management for the purchase of goods. Business markers must also send there well trained sales representative.
3. Multiple sales calls:People involved in the selling process have to make multiple sales calls to win most of the business orders.
4. Derived Demand:-Demand for business goods is ultimately derived from demand for consumer goods, so business marketers must monitor the buying patterns of ultimate consumers.
5. Inelastic demand:-Total demand for many business goods and services is inelastic and not much affected by price changes, especially in the short run, because producers cannot make quick production changes.
6. Fluctuating demand:-Demand for business products tend to be more volatile than demand for consumer products.
7. Geographically concentrated buyers:-The geographical concentration of products helps to reduce selling cost as the total concentration in geographical way is in most of the cities.
8. Direct purchasing:- Business buyers often buy directly from the manufactures and not the
intermediates.
Q. When are the organizations in buying situations?
The business buyer faces many decisions in making a purchase. The following are the various situations faced which are given below.
Straight Rebut:- The purchasing department have:-- routine purchase from approved suppliers - the supplier maintain the quality and fast delivery.- Out suppliers attempt to offer new or exploit dissatisfaction with
current supplier. Modified Rebut: -
The buyer wants to modify product specifications, prices and delivery requirements. The in supplier becomes nervous with the requirements so this is give opportunity for the out supplier to step in.
New task: -
The business buyer use the product and service for the first time. And hence the more the number of participants in the race and the time required taking the decision.
Q. Which are the Participants in the Business Buying Process?
o Initiators: - Request that something be purchased.
o Users: - Those who will use the product or service; often, users initiate the buying proposal and help define product requirements.
o Influences:- People who influence the buying decision, including technical
Personnel. They often help define specifications and also provide information for evaluating alternatives.
o Deciders: - Those who decide on product requirements or on suppliers.o Approvers: - People who authorize the proposed actions of deciders or
buyers.o Buyers: - People who have formal authority to select the supplier and
arrange the purchase terms, including high-level managers. Buyers may help shape product specifications, but their major role is selecting vendors and negotiating.
o Gatekeepers:- People who have the power to prevent sellers or information from reaching members of the buying center; examples are purchasing agents, receptionists, and telephone operators.
Q. Which are the major influences on business buying?
Environmental influences:-
Level of demand Economic outlook Interest rate Rate of techno-logical change Political and regulatory developments Competitive developments Social responsibility concerns
Organizational influences:-
Objectives Policies Procedures Organizational structures Systems
Interpersonal influences:-
Interests Authority Status Empathy Persuasive-ness
Individual influences:-
Age Income Education
Job position Personality Risk attitudes Culture
Q. What are the stages in buying?
These are the eight stages for a typical new-task buying situation given below:-
Problem Recognition:Problem recognition commonly occurs when a firm decides to develop a new product and needs new equipment and material.
General Need Description:Business marketers can assist buyers by describing how their products would meet such needs.
Product Specification:
In this case product value analysis is an approach to cost reduction with best quality. Product value analysis as a tool for positioning themselves to win an account with cross reference with the New task, Modified Rebuy, Straight rebuys.
Supplier Search:
The buyer now tries to identify the most appropriate suppliers, evaluating each company; the buyer will end up with a short list of qualified suppliers.
Proposal SolicitationThe buyer is ready to invite qualified suppliers to submit proposals
Supplier SelectionBefore selecting a supplier, the buying center will specify desired supplier
attributes (such as product reliability and service reliability) and indicate their relative importance. It will then rate each supplier on these attributes to identify the most attractive one.
Order-Routine SpecificationAfter selecting suppliers, the buyer negotiates the final order, listing the technical
Specifications, the quantity needed, the delivery schedule which make the suppliers in tighter with the buyer and makes it difficult for out-suppliers to break in unless the buyer becomes dissatisfied with the in-supplier’s prices, quality, or service.
Performance ReviewThe buyer periodically reviews the performance of the chosen supplier(s).
Q) HOW ARE BRAND DIFFERENTIATED?ANS)
DEF:Act of designing a set of meaningful differences to distinguish the
company’s offerings from competitors offerings.
FOUR DIFFERENT STRATEGIES:
1. PRODUCT DIFFERENTIATION: On basis of product form, features, performance, reliability, repairability,
conformance, durability, style and design. Service differentiation based on ordering ease, delivery, installation,
customer training, customer consulting, maintenance and repair.2. PERSONNEL DIFFERENTIATION:
Company gains a strong competition advantage through having better trained people.
Well trained personal exhibit six characteristics:Competence, Courtesy, Credibility, Reliability, Responsiveness and communication.
2. CHANNEL DISTRIBUTION:
Achieving competition advantage through the way they design their distribution channel coverage, expertise and performance.
3. IMAGE DIFFERENTIATION: Identity comprises the way that a co. aims to position itself or its products. Effective image establishes products character and value proposition. It delivers emotional power beyond a mental image.
Q) WHAT ARE THE DIFFERENT STAGES OF PRODUCT LIFE CYCLE?
ANS)Product has a life cycle to assert four things:1. product has limited life2. Product scale pass through distinct stages.3. Profit rise and fall at different stages.
4. it requires different marketing,financial , manufacturing , purchasing & human resource strategies.
PRODUCT LIFE CYCLE DIVIDED INTO 4 STAGES:1. INTRODUCTION SATGE:
A period of slow growth. Profits are non-existence because of heavy expense incurred with product
introduction. Slow growth because delay in expansion of production capacity, technical
problem, delay in distribution. High promotional expenditure. Offered low prices and improving product more continuously.
Que: Explain the stages involved in market evolution? Ans: Like product market evolved through four stages:
1.Emergence: - Market emerges as the need of customer changes - Entrepreneur has three options to design optimal product for this market.
A single niche strategy-New product designed to meet preference of one corner of market.
A multiple niche strategy-Two or more product simultaneously launched to capture two or more part of market.
A mass market strategy-New product designed for middle of market.2.Growth: -If new product sells well, new firm enters the market. 3.Maturity:
- Competitors cover and serve all major market segments and market enters the maturity stage.-Strategies involved in maturity stage are:
Market fragmentation - as market growth slows down ,market split into finer segments.Two segment unserved because they are too small to yield profit.
Market consolidation – Caused by emergence of new attribute that has strong appeal.
4.Decline : - Demand for present product decrease and hence market enters decline stage - Society’s total need level declines or new technology replaces the old.
PLC stages and strategies
Stages Main strategy Price Advertising and sales promotions
Introduction
Aim to get the innovators try the product
Try to have a higher price to cover the launch costs
Generate awareness;
Samples, test drives etc.
Growth
Aim at the weaker market
Keep price up to take advantage of market growth
Reinforce success;
Reduced sales promotions
Maturity
Fight off the increasing competition and support loyal customers
Avoid price wars Stress the differential advantages; use sales promotions to attract users to the brand
Decline
1.Revamp
2.Promotion
3.Substitution
Change price levels
Reduce price
Price down to clear stocks
Stress and inform change
Spend more, special offers
Do nothing