MS-06 - Marketing for Managers

 

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Management Programme

 

MS-06: Management of Machines and Materials

 

Q1. a) Explain the term marketing with suitable examples. Discuss the elements of marketing mix and their role in strategy development.

b) With the help of secondary data sources (published or internet) try and collect relevant and recent material in the last five years with regard to infrastructure sector which indicates the type of marketing effort is being made to develop and promote infrastructure sector.

Ans. A. 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 4Ps make up a typical marketing mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements.

The 4Ps marketing mix concept (also known as the 4ps of marketing) was introduced by Jerome McCarthy in his book: "Basic Marketing: A Managerial Approach". It refers to the thoughtfully designed blend of strategies and practices a company uses to drive business and successful product promotion. Initially 4, these elements were product, price, place and promotion, which were later expanded by including people, packaging and process.

 

Q2. a) Distinguish between products and services with suitable illustrations. Discuss the concept of service and the reasons for growth of the sector in the last five years (collect data from published and internet sources).

b) What is the concept of product life cycle (PLC)? Discuss the various stages of PLC in the following situations.

(i) any SUV model of your choice

(ii) electric bike

Ans.

 

Q3. a) Explain and discuss the concept of a segment in marketing. Take a hypothetical example of your choice and explain the bases for segmentation and the decision to select its segment.

(b) Who is a consumer? Why knowledge of consumer behaviour is important for marketers in the design and development of firms offering? Illustrate.

Ans.

 

Q4. a) Explain the importance of branding in marketing of goods and services. Select a suitable brand name and discuss the branding decisions that you would consider in the following situations.

(a) a premium soap for men

(b) gearless motorcycle for women from a leading manufacturer.

b) As a Manager, you have been assigned the task of sales forecasting for the following periods.

(a) Short term for – 6 months

(b) Midterm for – 2 years

(c) Long term for – 4-5 years

How would you go about in undertaking the said task for a small passenger car? Discuss the determinants, approaches and evaluation criteria that you wish to consider. Justify.

Ans.

 

 

 

 

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