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Marketing Management V1A
Assignment
Q.1 A Chennai based soft drink company has proposed to launch a new variant of So
ft-drink in three flavours lemon , rose , and orange priced at Rs.6 /- ,Rs.7/- R
s.8 /- in 300ml bottles.As advertisiting consultant develop an advertising campa
ining Strategy.What will be your message,who will be your target market and what
will be the ideal media mix ?
Q.2 Indian consumers are changed both in social values and cultural life. Disuss t
he change you have observed with the Indian consumers and their impact on the Ma
rketing in the post liberalisation period.
Q.3 Write short notes on the following :
1. Marketing mix with 4 Ps model
2. Marketing concept
3. Product concept
Q.4 What is new product ? Describe the logical steps to be followed in the new P
roduct development and strategy ?
Q.5 Define data. What are the sources of data.Explain marketing research designs
for data collections ?
Assignment B
Q .1 Define companys marketing environment.What are the actors and forces that co
nstitute companys marketing environment ? Discuss
Q.2 What is a brand ? Discuss the different branding strategies with examples ?
Q.3 Define channel of distribution.Why do producers use channel of distributions
CONSUMERS CONFOUND MARKETERS
Household spending by all UK households amounted to over 500 billion in 1997, or
63% of gross domestic product. This level of expenditure is very closely related
to conditions in the country's macro-economic environment. For marketers, it is
crucial to be able to read the macro-economic environment and to predict the ef
fects of change in demand for their goods and services. Identifying turning poin
ts in the economic cycle has become a work of art as well as science, as consume
rs frequently confound experts by changing their expenditure levels in a way whi
ch could not have been predicted on the basis of past experience.
During the Autumn of 1998, mortgage rates in the UK were falling; unemployment w
as close to its lowest level for two decades; pay rises were keeping ahead of in
flation; and share prices were recovering from their recent falls. Yet expenditu
re by British households was falling sharply. For three consecutive months retai
l sales fell in value, with retailers such as Marks and Spencers and Storehouse
reporting below expected levels of sales. Retailers have traditionally found exc
uses to justify poor sales to their shareholders, including weather which is too
cold/too hot. Even the death of Diana Princess of Wales was widely blamed for k
eeping people out of the shops.
Throughout 1998, prices of consumer goods had fallen significantly, with consume
r durables down in price by an average of 2% in a year and clothing by 5%. Econo
mic theory would have suggested that lower prices would have resulted in higher
sales, especially considering the other favourable elements of the macro-environ
ment. However, this did not appear to be happening.
What else could have been happening in the marketing environment to explain fall
ing household expenditure? At the time, the media was full of reports of an impe
nding global economic crisis, triggered by difficulties in the Asian economies.
Consumer confidence is crucial to many high value household purchases such as ho
uses and cars, with consumers reluctant to commit themselves to regular monthly
repayments when their source of income is insecure. Even this may be only a part
ial solution, as a survey of consumer confidence carried out in October 1998 by
GFK on behalf of the European Commission showed that although consumers were pes
simistic about the state of the national economy, they were quite upbeat about t
heir personal financial situation.
One possibility was that consumers had become cannier. If prices are falling, wh
y not wait longer until prices have fallen further? Consumers had also witnessed
the effects of previous over-borrowing and had been more cautious during the re
cent period of economic growth, resulting in a historically low level of persona
l sector indebtedness. In 1997, 9% of disposable household income was saved, com
pared with just 3% at the height of the economic boom of 1988.
For companies who need to commit resources a long while in advance in order to m
eet consumers needs, an accurate understanding of the market environment is cruci
al if stock surpluses and shortages are to be avoided. But this case shows that
getting it right can still be very difficult.
ADDITIONAL CASE STUDY REVIEW QUESTIONS
1. Identify all of the environmental factors that can affect the demand for cons
umer durables and assess the magnitude and direction of their impact.
2. In what ways can a manufacturer of consumer durables seek to gain a better un
derstanding of its marketing environment?
3. How can a manufacturer of consumer durables seek to respond to environmental
change as rapidly as possible?
Marketing Management- MBA IB
ASSIGNMENT C
1. Transaction buyers can be generally described as which of the following?
a. only interested in the purchase at hand
b. see the benefit of sharing the business between a number of suppliers
c. seek a long-term relationship with suppliers
d. consist mostly of small companies
2. Which of the following best describes the characteristics of relationship cus
tomers?
a. seek a short-term orientation with suppliers
b. sees the benefit of sharing the business among a number of suppliers
c. only interested in the purchase at hand
d. consist mostly of small companies
3. Lifetime customer value is often described as which of the following?
a. the cost of customers switching to another brand
b. the stream of revenue a customer can produce over a lifetime with your produc
t
c. acquisition cost
d. variable cost
4. Retained customers _____ than switchers.
a. are less profitable
b. are more profitable
c. cost more
d. are less loyal
5. The compelling economic reason for increasing the customer retention rate is
described by_____.
a. a small difference in retention rate changes slightly over a long period of t
ime
b. a small difference in retention rate is greatly magnified over a long period
of time
c. a small difference in retention rate does not change over any period of time
d. retention rate is not a factor in the lifetime customer value
6. According to the text, loyal customers are more profitable because of all of
the following reasons except:
a. they stimulate revenue growth
b. are less expensive to serve
c. willing to pay a premium price
d. price sensitive
7. Which of the following costs represent an initial cost for any customer?
a. development cost
b. fixed cost
c. variable cost
Marketing Management- MBA IB
Copyright 2010 Amity University
d. acquisition cost
8. The ________ is simply the profit margin a company earns from an average cust
omer.
a. supplementary profit
b. base profit
c. complementary profit
d. voluntary profit markup
9. Retained customers have been found to do which of the following?
a. speak negatively about the product
b. increase their purchase quantities over time
c. decrease their purchase quantities over time
d. switch to a competitor within a month
10. It has been found that existing customers cost _____ to serve compared to ne
w customers.
a. less
b. more
c. the same
d. is not applicable
11 Which of the following is not considered one of the strategic approaches to t
he ..marketplace as described in the text?
a. sales driven
b. technology driven
c. competitor driven
d. customer driven
12...In a customer-focused organization, advertising is considered:
e. an investment in the brand name
f. providing value to the customer
g. an expense
h. all of the above
13The marketing environment where firms compete is not:
i. static
j. dynamic
k. fast changing
l. stable
14.Which of the following is not consistent with the marketing concept?
a. Embraces the notion of being customer focused
b. Is consistent with being competitor focused and making a profit
c. Serves all customer needs at all costs and the customer is always right
d. Turn away customers and customer segments that are unprofitable to serve
15When Ford or GM sells automobiles to their customers, their customers are actually bu
ying all of the following except:
a. transportation
b. prestige
Marketing Management- MBA IB
Copyright 2010 Amity University
c. fun
d. automobiles
16..If you spoke to a marketing manager at P&G regarding the marketing of laundry ..d
etergent, he/she would say that they are selling all of the following except:
a. laundry detergent
b. clean clothes
c. fresh-smelling clothes
d. no color runs
17...Information from marketing research studies should be sent to individuals in
all of the following functional areas except:
a. production personnel
b. application engineers
c. sales personnel
d. marketing personnel
18 .From the perspective of a marketing manager, marketing can be viewed as all o
f ..the following except:
a. brand enhancement
b. customer service
c. packaging production
d. raw material cost control
19 .The marketing manager's internal interactions include all of the following ...exc
ept:
a. sales
b. finance
c. suppliers
d. public relations
20.The internal interactions of the marketing manager's job can be described as all
.of the following except:
a. working with the companys Board
b. dealing with suppliers
c. dealing with members of the media
d. reporting to senior management
21.The elements of a complete marketing strategy include all of the following except:
a. developing a value proposition
b. developing competitive advantage
c. positioning products and services
d. developing price and delivery programs with raw materials vendors
22.Marketing managers are challenged by all of these problems except:
e. developing reasonable sales and market share goals
f. developing a targeted list of customers
g. developing reasonable product costs
Marketing Management- MBA IB
Copyright 2010 Amity University
h. how to differentiate their product
23.Which of the following best describes a marketing objective?
i. a corporate vision and mission
j. a written definition or general intent or company position
k. the criterion by which the success or failure of the strategy is measured
l. a measurable evaluation of the business
24.Increased market share is not a good objective because:
m. it is too challenging
n. it is not measurable
o. it doesnt mention quality
p. it doesnt assign responsibility
25. ..All of the below are characteristics of good objective statements except:
q. should assign individual responsibility
r. should have a quantified standard of performance
s. should have a clear time frame
t. should be stated in measurable terms
26..For which of the following would marketing managers target a market .penetration
strategy?
u. Individuals who have never used the product or service
v. Offshore customers who have a need for the product or service
w. Individuals who are buying your product or service or a direct competitors
x. Individuals who buy closely-related products or services
27Which of the following best describes why marketing managers should pursue a market
penetration strategy?
a. There are always a large number of potential customers who have never purchas
ed your product or service
b. They have purchased your products or services in the past and are familiar wi
th its benefits
c. There are customers who dont know about your product or service
d. There are customers who have an unmet need for your product or service
28Which best describes the realities of targeting competitors customers?
a. It is easier to locate them because they are already buying the product or se
rvice
b. It is easier to sell them as they already know the advantages of the product
or service
c. There is little loyalty among consumers and getting customers to switch is ea
sy
d. It is riskier and more expensive to steal customers away from a competitor
Marketing Management- MBA IB
Copyright 2010 Amity University
29..In which Product Life Cycle phase is it easier to persuade a customer to swit
ch to ..your product or service?
a. introduction phase
b. growth phase
c. mature phase
d. decline phase
30..A marketing manager uses all of these groups to give more focus to market ..seg
mentation decisions except:
a. existing customers
b. competitors customers
c. non-buying customers in currently targeted segments
d. most profitable customers in the largest segment
31..Which of the following best links the consumer and the marketer through .inform
ation that can be used to identify marketing opportunities and problems?
a. strategic marketing
b. consumer behavior
c. marketing research
d. personal selling
32The mission of the Market Research department is all of the following except:
a. gather information
b. analyze information
c. interpret marketing information
d. evaluate past promotional programs
33.According to the text, all of the following are mentioned as major functions of
.marketing research except:
a. scanning for opportunities and threats
b. evaluate past promotional programs
c. risk assessment of future programs
d. monitoring of current programs
34Specifically, marketing research is most commonly used to:
a. forecast the sales of existing and new products
b. refine new product concepts
c. understand competitors
d. all of the above
35.The first step in the marketing research process is which of the following?
a. defining the problem
b. determine the research objective
c. design a questionnaire
d. collect the data
36..Which of the following information sources already exist and were not .developed
for the particular problem at hand?
Marketing Management- MBA IB
Copyright 2010 Amity University
a. primary
b. secondary
c. quantitative
d. qualitative
37Information sources that are generated for the particular problem being studied are
best described as:
a. primary
b. secondary
c. quantitative
d. qualitative
38.Marketing managers are well advised to consult _____ sources before embarking ..on
major data collection process.
a. primary
b. secondary
c. quantitative
d. qualitative
39.Which of the following is an advantage of primary data collection?
a. Data can be collected quickly to meet a managers needs
b. Data is tailored to the manager's needs
c. Data is perhaps the most inexpensive among data collection methods
d. Data already exists for another study and is more accurate because it has alr
eady been analyzed
40. All of the following are disadvantages of primary data collection except:
a. Data can be collected quickly to meet a manager's needs
b. Data is tailored to the manager's needs
c. Data is perhaps the most inexpensive among data collection methods
d. Data already existed for another study and is more accurate because it has al
ready been analyzed
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