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Summer-2013
Master of
Business Administration- MBA Semester 4
MB0046-Marketing
Management-4 Credits
(Book ID: 1629)
Assignment
(60 Marks)
Note: Answer
all questions (with 300 to 400 words each) must be written within 6-8 pages.
Each Question carries 10 marks 6 X 10=60
Q1. Describe the stages in consumer
decision making process.
Answer. An individual who purchases products
and services from the market for his/her own personal consumption is called as consumer.
A consumer
goes through several stages before purchasing a product or service. The
decision making process starts before the actual purchase, and continues even
after the purchase. The model implies that customers pass through all stages in
every purchase. However, in more routine purchases, customers often skip or
reverse some of the stages -
Q2. Define Product line and its
strategies.
Answer. A product line is a group of items manufactured by a
company which are similar or related. Companies may develop one product line,
or may diversify to appeal to the masses. Product line strategies help the
company determine which items to produce and how they should be marketed.
A group of
related products manufactured by a single company. A good way for a company to
try to expand its business is by adding to its existing product line. This is
because people are more likely to purchase products from brands with which they
are already familiar.
Q3. Write short notes on: A. Steps
for positioning a product
B. Types of target marketing
strategies.
Answer. A. 1. Know your target
audience well
It is
essential for the marketers to first identify the target audience and then
understand their needs and preferences. Every individual has varied interests,
needs and preferences. No two individuals can think on the same lines.
B. It's important to tap the most attractive segment
for maximum profit. To help you achieve this, here are some target marketing
strategies.
1. Single Segment Strategy:
This
strategy involves the use of only one marketing mix for one market segment.
Usually small scale companies with limited budget and resources opt for this
form of target marketing strategy.
Q4. Write short notes on: A.
Components of Brand Equity
B. Types of Branding strategies with
examples.
Answer. A. Awareness
Unaided
awareness is the foundation and first key measure of brand equity. Awareness
comes from exposure, i.e. advertising, publicity, event sponsorship, store
fronts and signage, email campaigns, direct mail campaigns, packaging, website,
banner ads, etc. These things must be created with extraordinary style and
creativity so they grab attention and have impact.
B. A branding strategy helps establish a product within the
market and to build a brand that will grow and mature in a saturated
marketplace. Making smart branding decisions up front is crucial since a
company may have to live with the decision for a long time. The following are
commonly used branding strategies:
Company Name
In this case
a strong brand name (or company name) is made the vehicle for a range of
products (for example, Mercedez Benz or Black & Decker) or a range of
subsidiary brands (such as Cadbury Dairy Milk or Cadbury Fingers in the United
States).
Q5. Explain the steps in Business buying
process.
Answer. Step 1: Recognize the Problem
Machine
malfunction, firm introduces or modifies a product, etc.
Step 2: Develop product specifications
to solve the problem
Buying
center participants assess problem and need to determine what is necessary to
resolve/satisfy it.
Q6. Explain the International
Promotions Policy.
Answer. Promotion policy is another key factor in foreign
trade. Besides deciding global or local promotions, the type of promotion that
we should carry out will be related to the distribution systems available in of
foreign markets. With a direct export, the exporter will have to bear all the
costs of the promotion, however with an indirect export, the intermediary can
share in this cost and participate in the design of it
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