MB0046-Marketing Management

Spring-2015

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Master of Business Administration- MBA Semester 2

MB0046-Marketing Management-4 Credits

(Book ID: B1629)

Assignment (60 Marks)

Note: Answer all questions within 400 words each. Each Question carries 10 marks 6 X 10=60

Q1. A marketing mix can be referred to as a planned mix of the controllable elements of a product’s marketing plan, commonly termed as 4Ps: Product, Price, Place and promotion. Considering the increasing role of services in the economy and customer orientation, additional 3 Ps such as People, Process and physical evidence were added to the marketing mix. These Ps are very important while generating optimum income for the company since it will be adjusted until the right combination that serves the needs of the customers. Define the term marketing mix. Describe the 7ps of marketing mix.

Answer. The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand

Q2. A brand is a composite set of beliefs and associations in the mind of consumers. In brand development, as a part of branding strategy decision, the brand manager can decide to create new brand elements for the new products, apply some of the existing brand elements to the new product, or use a combination of existing and new brand elements to the existing and new products. Explain the different branding strategies used by the companies for their range of products.

Answer. Definition of Brand

Unique design, sign, symbol, words, or a combination of these, employed in creating an image that identifies a product and differentiates it from its competitors. Over time, this image becomes associated with a level of credibility, quality, and satisfaction in the consumer's mind (see positioning). Thus brands help harried consumers in crowded and complex marketplace, by standing for certain benefits and value. Legal name for a brand is

Q3. Describe the international market entry strategies in brief.

Answer.  International Market Entry Strategies

There are a variety of ways in which a company can enter a foreign market. No one market entry strategy works for all international markets. Direct exporting may be the most appropriate strategy in one market while in another you may need to set up a joint venture and in another you may well license your manufacturing. There will be

transportation costs, and the ability to access technology or skilled labour.

Q4. Personal selling focuses in on ‘personal’ or ‘one to one’ selling. It involves an individual salesman or a sales team establishing and building a profitable relationship with customers over a period of time through a series of steps. Explain the steps in the personal selling process which helps in the successful sales.

Answer. Definition of Personal Selling:

Personal selling is an activity which involves a face-to-face interaction with the customers wherein there is a quick response and personal confrontation. This allows for more specific adjustment of the message. Here, the communication message can be adjusted as per the customer’s specific needs or wants. It offers you the opportunity to develop long-term familiarity and relationship.

Process or steps in personal selling include the following:

1. Prospecting –

Q5. Describe the stages in Business buying process.

Answer. The business buying decision process involves five distinct stages. At each stage, different decision makers may be involved, depending on the cost and strategic importance of the purchase. To navigate the buying decision process successfully, you need to provide the right type of information and ensure that your sales representatives are contacting the right decision makers.

Awareness

The process begins

Q6. Describe some of the strategies for effective marketing and advertising in rural market. Also explain the innovative use of media in rural market.

Answer: The rural markets are estimated to be growing fatly compared to the urban markets. The potentiality of rural markets is said to be like a 'woken up sleeping giant'. These facts are substantiated in a study of market growth conducted by various researches. In recent years, rural markets have acquired significance in country

Spring-2015

Get solved assignments at nominal price of Rs.120 each.

Mail us at: subjects4u@gmail.com or contact at

08894344452, 08894387490