MBA203 - Marketing Management

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Master of Business Administration - MBA Semester 2

MBA203 - Marketing Management

Qus:1 Define Marketing and various marketing orientations.

Answer: Marketing is said to be as old as civilisation itself. In fact, marketing came into existence with the barter system. With the passage of time, barter system evolved into the art of selling. The origin of marketing dates back to the ancient civilisation when man used symbols,

Q2. Explain the Traditional and Modern Ps of Marketing Mix.

Explain 7 Ps of Marketing Mix.

Answer:

Service sector is one of the key contributing factors for the growth of our economy and civilisation. Though marketing literature is dominated by manufacturing and product-centric business practices, service marketing constitutes a strategic area, which has propelled growth and success for many

Qus:3 Explain the various stages involved in Consumer Decision Making Process. Support your answer with a proper diagram showing the Consumer Decision Making Process.

Answer: The consumer decision making process is the way in which people gather and assess information and make choices among alternative goods, services, organizations, people, places, and ideas. It consists of the process itself and factors affecting the process.

The consumer decision making process consists of six basic stages. Factors affecting the decision

Set 2

Qus:1 Explain Product Life Cycle (PLC)

Answer: Products follow certain kinds of lifecycle patterns. Let us discuss the different stages in the lifecycle of products.

Let us discuss each stage of product lifecycle in detail

Introduction stage

Research or

Q2. What are the various Factors Affecting Price Decisions?

Explain the various Factors Affecting Price Decisions.

Answer:

A firm's price decision is influenced by many internal and external factors.

Internal factors are the factors that include elements within the organisation’s boundaries. On the other hand external factors are the factors that happen outside the business. The internal factors are cost of production, pricing policy, pricing objectives, and marketing strategy. The external factors include customers, suppliers, middlemen, competitors, and government regulatory agencies

Q3. What do you mean by Personal Selling? What are the various nature of personal selling? What are the various personal selling approaches?

Explain Personal Selling

Explain various nature of personal selling.

Explain various personal selling approaches.

Answer:

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

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