LPU : DMGT408

LPU Solved Assignments 2020

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Assignment No. 1

Course Code: DMGT408

Q1. Discuss the various levels of Product. Use suitable example to elaborate your answer.

Answer. The model considers that products are a means to an end to meet the various needs of customers. The model is based on there being three ways in which customers attach value to a product:

• Customer Need: the lack of a basic requirement.
• Customer Want: a specific requirement for a product or service to meet a need.
• Customer Demand: a set of wants plus the desire and ability to pay to have them satisfied.

Q2. Discuss the various factors influencing the consumer behavior.

Answer. Common Factors Influencing Consumer Behavior:

Consumer behavior can be broadly classified as the decisions and actions that influence the purchasing behavior of a consumer. What drives consumers to choose a particular product with respect to others is a question which is often analyzed and studied by marketers. Most of the selection process involved in purchasing is based on emotions and reasoning.

Q3. Discuss the various steps taken to manage a marketing channel.

Answer. With the evolution of newer media, brands started adopting multiple channels to reach out to and engage with their target audience. But as soon as they turned on their information hose through these channels, customers essentially started ignoring and in fact ending up becoming increasingly dissatisfied as they expected a similar service and experience in each of these channels but what they received was far from it. This led to the evolution of cross channel marketing strategy, where the focus is on integrating multiple channels to achieve the same end goal. This approach requires orchestrating multiple touch-points of customer interaction – from email to mobile and providing an enhanced unified personalized experience to the customers.

As companies are struggling to migrate from a multi-channel to an integrated cross channel marketing strategy, we have outlined a step-by-step approach to help marketers adopt this discipline seamlessly in their organization:

Q4. Discuss the various pricing strategies in detail. Use suitable example for your answer.

Answer. 1. Pricing for market penetration

Price is set artificially low to gain market share quickly. This is done when a new product is being launched. It is understood that prices will be raised once the promotion period is over and market share objectives are achieved.

 Example: Mobile phone rates in India; housing loans etc

LPU Solved Assignments 2020

Get full solutions.

For queries mail us at: subjects4u@gmail.com or contact at

08894344452, 08728863595