Elements of Marketing Management Project

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OPTION 4: ELEMENTS OF MARKETING MANAGEMENT
BUSINESS
STUDIES
PROJECT:
(TITLE OF
PROJECT)
NAME:
SCHOOL:
YEAR:
ROLL NO:
Page 1 of Business Studies Project (Elements of Marketing Management): Class XII
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Certificate of Authenticity
This is to certify that_________________________________________________
bearing Roll Number_______________________________ is a student of
Class XII of Sanskriti School.
She/he has successfully completed her/his project under my
guidance
and
supervision
towards
the
fulfillment
of
the
practical examination in Business Studies conducted by the

Central Board of Secondary Education for the academic year
2014-15.
Date of Submission: Friday, 12th of December, 2014

Name of Subject Teacher:
Teachers Signature:
School Stamp:
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PREFACE
&
INDEX:
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1. Name of Project:
Element of Marketing Mix
2. Problem Statement / Objective of Project:
The objective of the project is to develop a detailed marketing plan for

introducing _______________________ and covering the aspects of
Product, Price, Place and Promotion.
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INDEX:
S.NO PARTICULARS
PAGE NO
1.
Acknowledgements
2.
Preface
3.
Introduction
4.
Planning
5.
Observations And Findings
6.
Conclusions
7.
Learning From The Project
8.
Appendix
9.
Teachers Observations
And
Activities
Done
During
The
Project(If Any)
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Acknowledgements
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Acknowledge the following:
your school,
Your subject teacher,
Any person or institution that helped you,
Any places visited and the persons who have helped
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Introduction
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Introduce the topic studied.
Give the theory of Project as given in the following page.
Give an introduction of Marketing.
Give details about the 4 Ps of Marketing Mix.
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PROJECT METHOD:
HISTORY AND ADVANTAGES OF USING THE PROJECT METHOD

According to traditional historiography, the project idea is a genuine product of the
American Progressive education movement. The idea was thought to have originally
been introduced in 1908 as a new method of teaching agriculture, but educator
William H. Kilpatrick elaborated the concept and popularized it worldwide in his
famous article, "The Project Method" (1918). More recently, Michael Knoll has traced
the project method to architectural education in sixteenth-century Italy and to
engineering education in eighteenth-century France. This illustrates that the project
of the architectlike the experiment of the scientist, the sandbox exercise of the staff
officer, and the case study of the juristoriginated in the professionalization of an
occupation.
The project method was first introduced into colleges and schools when graduating
students had to apply on their own the skills and knowledge they had learned in the
course of their studies to problems they had to solve as practicians of their trade.
There are two basic approaches for implementing the project method. According to
the historically older approach, the students take two steps: initially, they are taught
in a systematic course of study certain skills and facts, then they apply these skills
and knowledge, creatively and self-directed to suitable projects. According to the
second approach, the instruction by the teacher does not precede the project but is
integrated in it. In other words the students first choose the project, then they discuss
what they need to know for solving the problem and learn the required techniques
and concepts. Finally they execute the chosen project by themselves. In both
approaches, time for reflection should be provided during all phases of project
learning, giving students the opportunity to evaluate their progress. Many teachers
especially vocational and industrial arts educatorsuse a series of small-scale projects
to help students develop continuously increasing competence in practical problem
solving.
The development of the term "project," within its broader conceptual and historical
contexts, extends its customary interpretation. As a result, traditional historiography
should be modified in the following three respects:
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1. The "project" is a concept dating from the 17th and 18th centuries, belonging
in the same category as the "experiment" of the natural scientist, the "case
study" of the jurist, and the "sand-table exercise" of the staff officer. Like the
experiment, the case study, and the sand-table exercise, the project method
has its origin in the professionalization of an occupation. It was introduced in
the curriculum so that students could learn at school to work independently
and combine theory with practice. In contrast to experiment, case study, and
sand-table exercises, the project method is not a matter of empirical,
hermeneutical, or strategic studies, but of "construction" (i.e., designing a
house, building a playground, or producing a machine).
2. The two basic models of the project method still used today were already
developed in the 19th century. According to the older model (e.g.,
Woodward), students first learn, in a course of instruction, the skills and
knowledge that they then apply independently and creatively in the practical
project. According to the more recent model (e.g., Richards), the project is
moved from the end of the unit to the center of teaching, in accordance with
the fundamental idea of the new psychology that "natural wholes" must be
the subject of learning if valuable interests and insights are to be developed.
Here, the course of instruction does not precede the project, but is integrated
into it.
3. At the beginning of the 20th century, a movement arose among American
progressive educators (e.g., Kilpatrick) that attempted to replace (a) the
traditional narrow definition of the project with a new, broad one, and (b)
"constructive" activity with "purposeful" action as the crucial feature of the
project method. This new definition was unable to gain ascendancy in the
United States, but in other countries it was accepted as an innovation and a
truly democratic achievement, with the paradoxical result that in Europe
today the broad "American" concept predominates, while in America the
narrow "European" approach plays the leading role.
The project method is generally considered a means by which students can (a)
develop independence and responsibility, and (b) practice social and democratic
modes of behavior. It is an educational enterprise in which children solve a practical
problem over a period of several days or weeks. It may involve building a rocket,
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designing a playground, or publishing a class newspaper. The projects may be

suggested by the teacher, but they are planned and executed as far as possible by the
students themselves, individually or in groups. Project work focuses on applying,
not imparting, specific knowledge or skills, and on improving student involvement
and motivation in order to foster independent thinking, self-confidence, and social
responsibility.
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MARKETING MANAGEMENT
Marketing management is a business discipline which focuses on the practical

application of marketing techniques and the management of a firm's marketing
resources and activities. Globalization has led firms to market beyond the borders of
their home countries, making international marketing highly significant and an
integral part of a firm's marketing strategy. Marketing managers are often
responsible for influencing the level, timing, and composition of customer demand
accepted definition of the term. In part, this is because the role of a marketing
manager can vary significantly based on a business's size, corporate culture,
and industry context. For example, in a large consumer products company, the
marketing manager may act as the overall general manager of his or her assigned
product. To create an effective, cost-efficient marketing management strategy, firms
must possess a detailed, objective understanding of their own business and
the market in which they operate. What is marketing?
The definition that many marketers learn as they start out in the industry is:
Putting the right product in the right place, at the right price, at the right time.
It's simple! You just need to create a product that a particular group of people want,
put it on sale some place that those same people visit regularly, and price it at a level
which matches the value they feel they get out of it; and do all that at a time they
want to buy. Then you've got it made!
The marketing mix and the 4 Ps of marketing are often used as synonyms for each
other. In fact, they are not necessarily the same thing.
What can be marketed:
Physical Products : DVD player, Motor cycle, ipods, Cell phone,

Footwear,Television, Refrigerator.
Services : Insurance, Health Care, Business Process Outsourcing,Security,

Easy Bill service, Financial Services(Investment),Computer Education, Online
Trading.
Ideas : Polio Vaccination, Helpage, Family Planning, Donation of Blood (Red

cross), Donation of money on Flag Day (National Foundation for Communal
Harmony).
Persons : For Election of Candidates for Certain Posts.
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Place : Visit Agra City of Love, Udaipur The City of Lakes,Mysore

The City of Gardens, When Orisa celebrates,Eleven the God Join In.
Experience : Customised Experiences as Dinner with a cricketer (say Dhoni);

Lunch with a celebrity (say Bill Gates or Aishwarya Roy) or experience of
Baloon Riding, mountaineering, etc.
Properties : Intangible rights of ownership of real estate in financial property

(Shares, Debentures).
Events : Sports events (say Olympics, Cricket series), diwali mela, fashion
show, music concert, film festival, elephant race (Kerala Tourism).
Information : Production packaging and distribution of information by

organisations such as by universities, research organisation, providing
information as market information (marketing research agencies), technology
information.
Organisations : For boosting their public image organisations such as

Hindustan Lever, Ranbaxy, Dabur, Proctor and Gamble,communicate with
people. Example, Phillips says, Lets make Things Better.
Marketing Mix
There are a large number of factors that affect marketing decisions. They can be
classified as:
Non-controllable factors and Controllable factors:
To be successful, a firm needs to take sound decisions wrt controllable factors while
keeping the environmental factors in mind.
To develop marketing tools, marketing managers use
the abovementioned controllable factors and the set of marketing tools that a firm
uses to pursue its marketing objectives in the target market is described as Marketing
Mix.
Success of a
market offer will depend upon how well these ingredients are mixed to create
superior value for customers and simultaneously achieve their sales and profit
objective. Thus, an ideal marketing mix would need:
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Producing satisfying products
Offered to buyers at a reasonable
About
price
offered.
Conveniently available
which
communication
is
Marketing mix" is a general phrase used to describe the different kinds of choices
organizations have to make in the whole process of bringing a product or service to
market. The 4Ps is one way probably the best-known way of defining the
marketing mix, and was first expressed in 1960 by E J McCarthy. The 4Ps are:
Product (or Service).
Place.
Price.
Promotion.
A good way to understand the 4Ps is by the questions that you need to ask to define
your marketing mix. Here are some questions that will help you understand and
define each of the four elements:
Product/Service
Product mix relates to decisions regarding planning, developing and

producing the right type of products and services for the consumers.
Product
is
the
tangible/intangible
product,
which
is
goods/services/anything of value that is offered to the market for

exchange.It relates to not only the physical product but also the benefits
offered by the product from the customers point of view.
It also includes the extended product- that is, what is offered to the customers
by way of after sales services, handling complaints etc. this decision is more
important for durable products.
Important decisions in this area include deciding about the features and
quality of the product, its packaging, labeling, trademark and branding of
products.
o
What does the customer want from the product/service? What

needs does it satisfy?
What
features
does
it
have
to
meet
these
needs?
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Are there any features you've missed out?
Are you including costly features that the customer

won't actually use?
How and where will the customer use it?
What does it look like? How will customers experience it?
What size(s), color(s), and so on, should it be?
What is it to be called?
How is it branded?
How is it differentiated versus your competitors?
What is the most it can cost to provide, and still be sold

sufficiently profitably? (See also Price, below).
Place Mix:
Set of decisions that need to be taken in order to make the product available
for purchase and consumption of the target market at the right place, in the
right time and at the right price.
It includes all the activities involved in transferring ownership and physical
possessions of the product o the consumer.
It involves decisions wrt:
o
Channels of distribution- selection of intermediaries/dealer to reach the

customers, providing support to the intermediaries etc.
Physical distribution-managing inventory, storage, warehousing and

transportation of goods from the place where they are produced to the
place where it is required by the buyer.
Where do buyers look for your product or service?
If they look in a store, what kind? A specialist boutique or in a

supermarket, or both? Or online? Or direct, via a catalogue?
How can you access the right distribution channels?
Do you need to use a sales force? Or attend trade fairs? Or

make online submissions? Or send samples to catalogue
companies?
What do you competitors do, and how can you learn from that
and/or differentiate?
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Price Mix:
It is a value that a buyer passes on to the seller in lieu of the product or
services provided.
It is a source of revenue for the seller.
Marketer needs to analyze the objectives of setting price and analyze the
factors that determine the price.
Decision also includes pricing methods, pricing strategies, pricing policies,
price changes, discounts to be offered, credit terms etc.
Price is the cost the customers has to bear for the product and so must be set
so that the customers perceive the price to be in lieu with the value of the
product.
What is the value of the product or service to the buyer?

Are there established price points for products or services in this area?
Is the customer price sensitive? Will a small decrease in price gain you
extra market share? Or will a small increase be indiscernible, and so

gain you extra profit margin?
What discounts should be offered to trade customers, or to other
specific segments of your market?

How will your price compare with your competitors?
Promotion Mix:
These are activities undertaken to persuade and motivate people to buy their
products.
It involves communicating the features, attributes, availability, merits etc of
the product to both the customers and the participants in the channels of
distribution in order to achieve sales goals.
Tools used include advertising, sales promotion, personal selling etc.
Where and when can you get across your marketing messages to
your target market?
Will you reach your audience by advertising in the press, or on TV,

or radio, or on billboards? By using direct marketing mailshot?
Through PR? On the Internet?
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When is the best time to promote? Is there seasonality in the market?
Are there any wider environmental issues that suggest or dictate the
timing of your market launch, or the timing of subsequent
promotions?
How do your competitors do their promotions? And how does that

influence your choice of promotional activity?
The 4Ps model is just one of many marketing mix lists that have been developed over
the years. And, whilst the questions we have listed above are key, they are just a
subset of the detailed probing that may be required to optimize your marketing mix.
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Planning and
Activities Done
During
the
Project
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You need to give details here about what were the activities that you
undertook to do your project. Such as
How you decided on the topic
Did you take interviews etc
How the analysis was done.
Give them in a sequence.
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Observations
&
Findings
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You need to analyze the responses and derive conclusions that will be the
data for future decisions.
This may be done question wise
For each question,

o
Give the definition of the topic in question in one para.
In the next para, give your observations about how the organization
that you are studying or will start has dealt with that aspect
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Product
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Product is actually a complex, multidimensional concept. It is defined broadly

enough to include services, programs, and attitudes and includes whatever you are
offering the target market in an effort to meet their needs. It involves all tangible and
intangible aspects of the good or service you offer your target market. These are
things which have value and are balanced against the value you expect to receive
from the target consumer. Product in the NPS world would probably be interpreted
as programs, activities, interpretation, as well as services. A product is seen as an
item that satisfies what a consumer demands. It is a tangible good or an intangible
service. Tangible products are those that have an independent physical existence.
Typical examples of mass-produced, tangible objects are the motor car and the
disposable razor. A less obvious but ubiquitous mass-produced service is a computer
operating system.
Every product is subject to a life-cycle including a growth phase followed by a
maturity phase and finally an eventual period of decline as sales falls. Marketers
must do careful research on how long the life cycle of the product they are marketing
is likely to be and focus their attention on different challenges that arise as the
product move.
The marketer must also consider the product mix. Marketers can expand the current
product mix by increasing a certain product line's depth or by increasing the number
of product lines. Marketers should consider how to position the product, how to
exploit the brand, how to exploit the company's resources and how to configure the
product mix so that each product complements the other. The marketer must also
consider product development strategies.
Product Mix: Every organization has a product mix that is made up of product
lines. Product lines contain product items. Each product item is a product or service as well
as the brand,package, and services associated with it. There are six components as
follows:
Services: Interpreters in visitor centers are providing an information service.
Package: In the product world this is the container. In the NPS world this
could be the surroundings in which a program is delivered. The atmosphere
of a visitor center might be considered the package in which the visitor center
experience is delivered.
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Brand: The brand in our case is the National Park Service and all of the image
attributes that are associated with the NPS.
Product Item: A distinct unit within a product line that is distinguishable by

size, price, appearance, function, or some other attribute. A guided hike along
a particular trail might be a product item.
Product Line: A group of products within a product mix that are closely
related, either because they meet the same need, function in a similar manner,
or share some other characteristic. Interpretation might be considered a
product line.
Product Mix (assortment): the set of all product lines and items that an
organization offers its target market(s). Everything the NPS offers target
market(s) constitutes its product mix.
Decision areas related to product mix include:
1. The product combination or range offered to the buyer
2. USP of the product
3. Technology used for manufacturing
4. Brand ,logo and tagline
5. Lable
6. Packaging
(After giving an introduction for product, analyze each question one by one. each)
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Selection of
this
product/servic
e
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Question 1: Why have I selected this product/service?
State whether it is an industrial or commercial

product
Give reasons why you have selected this product
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Competitive
Brands
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Question 2: Find out 5 competitive brands that exist in

the market.
List out 5 competitors in the National or

international markets.
Give pictures of their logo, taglines etc.
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Permission and
Licenses
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Question 3: What permission and licenses would be

required to make the product?
Why are permissions and licenses required as per

law?
If its a large scale organisation, formed as a
company, the following laws will be applicable:
o Companies Act, 1956
o Employees compensation act
o Factories act
Give any other permissions and licenses that are
applicable specifically to your product.
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Competitors
Unique Selling
Proposition.
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[U.S.P.]
Question 4: What are your competitors Unique Selling

Proposition? [U.S.P.]?
What is USP?
For all your 5 competitors, list out their USPs.
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Product Range
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Question 5: Does your product have any range give

details?
Define product range and give examples of

product range flowcharts from the net.
Give the product range you propose to have for
your product.
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Name of the
Product
Question 6: What is the name of your product?
Give the name of the product along with the reason

for the choice of the name.
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Features of the
Product
Question 7: Enlist its features.
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Give the basic features of your product in points

Also give specific features of your product as per the
product range you have decided on.
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Label
Question 8: Draw the Label of your product.

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Define the word label and give the functions of a

label and the information that a label should
provide.
Draw a detailed label and paste it on the blank left
side and enumerate the information provided in
your label on the right ruled side of your file.
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Logo
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Question 9: Draw a logo for your product.
What is a logo and why do companies need logos?

Draw a logo or print out a logo for your product
and give reason for choice of design and color
scheme.
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Tag line
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Question 10: Draft a tag line.
What is a tagline and why do companies use a

tagline?
Give the tagline for your product giving reasons
for selecting the tagline and what it represents.
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Packaging
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Question 11: How will your product be packed?
What is packaging and give its functions and the 3

levels of packaging.
Explain the 3 levels of packaging that will be used
by you. Either draw of make a prototype of the
package that will be used by you.
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PLACE
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Place Mix Refers to providing the product at a place which is convenient for
consumers to access. Various strategies such as intensive distribution,
selective distribution, exclusive distribution and franchising can be used by
the marketer to complement the other aspects of the marketing mix.
A set of decisions needs to be taken to make the product available to

customers for purchase and consumption.
The marketer needs to make sure that the product is available at the right
quantity, at the right time and at the right place.
. It requires development of:

o
Channels of distribution
Physical distribution of products.
a) Channels Of Distribution:
Path taken by the good in their movement from the place of production to the
place of consumption.
Includes a series of firms/individuals/people/institutions/merchants and

functionaries who form a network which helps in the transfer of title to a
product from the producer to the end consumer.
They help to overcome time, place and possession gaps that separate the
goods and services from those who need/want them from those who want
them.
Thus, intermediaries in the channel of distribution help to:

Assist in transferring title to goods from the producers to consumers.
Bring economy of effort
Cover large geographical area and bring efficiency in distribution
Transportation, storage and negotiation
Make various items available at one place
Serves as an authentic source of market information.
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b) Physical Distribution
Involves physical handling of and movement of goods from the place of

production to the place of consumption.
Creates time and place utility
Involves decisions wrt inventory, storage and warehousing, transportation

and order processing.
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Channels of
Distribution
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Question 12: Which channel of distribution are you going to

use? Give reasons for selection?
What are channels if distribution? What functions are

performed by them?
Give the channel of distribution selected along with
the number of intermediaries in the channel selected.
Give the factors that you have considered while
selecting the channels of distribution.
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Warehousing
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Question 13: Decisions related to warehousing, state reasons.
Define warehousing along with the functions

performed by warehouses.
State the type of warehouse that you will select along
with reasons for selecting the same.
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Transportation
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Question 14: What means of transport you will use and

why?
What are the modes of transportation

available?
Which mode of transportation will you select

and why?
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PRICE
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Price refers to the amount a customer pays for the product. The price is very
important as it determines the company's profit and hence, survival. Adjusting the
price has a profound impact on the marketing strategy, and depending on the price
elasticity of the product, often it will affect the demand and sales as well. The
marketer should set a price that complements the other elements of the marketing
mix.
When setting a price, the marketer must be aware of the customer perceived
value for the product. Three basic pricing strategies are: market skimming pricing,
marketpenetration pricing and neutral pricing. The 'reference value' (where the
consumer refers to the prices of competing products) and the 'differential value' (the
consumer's view of this product's attributes versus the attributes of other products)
must be taken into account. A business can use a variety of pricing strategies when
selling a product or service. The Price can be set to maximise profitability for each
unit sold or from the market overall. It can be used to defend an existing market
from new entrants, to increase market share within a market or to enter a new
market. Businesses may benefit from lowering or raising prices, depending on the
needs and behaviors of customers and clients in the particular market. Finding the
right pricing strategy is an important element in running a successful business
Premium Pricing
Premium pricing strategy establishes a price higher than the competitors. It's a
strategy that can be effectively used when there is something unique about the
product or when the product is first to market and the business has a distinct
competitive advantage. Premium pricing can be a good strategy for companies
entering the market with a new market and hoping to maximize revenue during the
early stages of the product life cycle.
Penetration Pricing
A penetration pricing strategy is designed to capture market share by entering the
market with a low price relative to the competition to attract buyers. The idea is that
the business will be able to raise awareness and get people to try the product. Even
though penetration pricing may initially create a loss for the company, the hope is
that it will help to generate word-of-mouth and create awareness amid a crowded
market category.
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Price Skimming
Businesses that have a significant competitive advantage can enter the market with a
price skimming strategy designed to gain maximum revenue advantage before other
competitors begin offering similar products or product alternatives.
Psychological Pricing
Psychological pricing strategy is commonly used by marketers in the prices they
establish for their products. For instance, $99 is psychologically "less" in the minds of
consumers than $100. It's a minor distinction that can make a big difference.
Pricing is one of the most important elements of the marketing mix, as it is the only
mix, which generates a turnover for the organisation. The remaining 3ps are the
variable cost for the organisation. It costs to produce and design a product, it costs to
distribute a product and costs to promote it. Price must support these elements of the
mix. Pricing is difficult and must reflect supply and demand relationship. Pricing a
product too high or too low could mean a loss of sales for the organisation.
Pricing Factors
Pricing should take into account the following factors into account:
1. Fixed and variable costs.
2. Competition
3. Company objectives
4. Proposed positioning strategies.
5. Target group and willingness to pay
An organisation can adopt a number of pricing strategies, the pricing strategy will
usually be based on corporate objectives.
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Types of Pricing Strategy

Pricing
Strategy
Penetration
Pricing
Definition
Example
Here the organisation sets a low price to increase sales
A television satellite company sets a low price to get
and market share. Once market share has been
subscribers then increases the price as their customer base
captured the firm may well then increase their price.
increases.
The organisation sets an initial high price and then

Skimming
slowly lowers the price to make the product available
Pricing
to a wider market. The objective is to skim profits of the

market layer by layer.
Competition
Pricing
Setting a price in comparison with competitors. Really a

firm has three options and these are to price lower,
price the same or price higher
A games console company reduces the price of their console

over 5 years, charging a premium at launch and lowest price
near the end of its life cycle.
Some firms offer a price matching service to match what their

competitors are offering.
An example would be a DVD manufacturer offering different
Product Line
Pricing different products within the same product
Pricing
range at different price points.
DVD recorders with different features at different prices eg A

HD and non HD version.. The greater the features and the
benefit obtained the greater the consumer will pay. This form of
price discrimination assists the company in maximising
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turnover and profits.
Bundle Pricing
The organisation bundles a group of products at a
This strategy is very popular with supermarkets who often
reduced price. Common methods are buy one and get
offer BOGOF strategies.
one free promotions or BOGOF's as they are now

known. Within the UK some firms are now moving into
the realms of buy one get two free can we call this
BOGTF i wonder?
The seller will therefore charge 99p instead 1 or $199 instead
Psychological The seller here will consider the psychology of price

Pricing
and the positioning of price within the market place
of $200. The reason why this methods work, is because buyers

will still say they purchased their product under 200 pounds
or dollars, even thought it was a pound or dollar away. My
favourite pricing strategy.
Premium
The price set is high to reflect the exclusiveness of the
An example of products using this strategy would be Harrods,
Pricing
product.
first class airline services, Porsche etc.
Optional
The organisation sells optional extras along with the
This strategy is used commonly within the car industry as i
Pricing
product to maximise its turnover. T
found out when purchasing my car.
Cost Based
The firms takes into account the cost of production and If a firm operates in a very volatile industry, where costs are
Pricing
distribution, they then decide on a mark up which they changing regularly no set price can be set, therefore the firm
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would like for profit to come to their final pricing
will decide on their mark up to confirm their pricing decision.
decision.
Cost Plus
Here the firm add a percentage to costs as profit margin
Pricing
to come to their final pricing decisions.
For example it may cost 100 to produce a widget and the firm
add 20% as a profit margin so the selling price would be
120.00
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Decisions
w.r.t Selling
prices and
Profit
Margins
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Question 15: What is the selling price of your

competitors product?
(i) Selling price to consumer
(ii) Selling price to retailer
(iii) Selling price to wholesaler
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Question 16: What is the profit margin in percentage to

the
Manufacturer.
Wholesaler.
Retailer.
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Question 17: What is going to be your selling price?

(i) To consumer
(ii) To retailer
(iii) To wholesaler
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Question 18: What cost effective techniques will you

follow for your product. What cost effective techniques
will you follow for your promotion plan.
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PROMOTION
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All of the methods of communication that a marketer may use to provide

information to different parties about the product. Promotion comprises elements
such as:advertising, public relations, sales organisation and sales promotion.
Advertising covers any communication that is paid for, from cinema commercials,
radio and Internet advertisements through print media and billboards. Public
relations is where the communication is not directly paid for and includes press
releases, sponsorship deals, exhibitions, conferences, seminars or trade fairs and
events. Word-of-mouth is any apparently informal communication about the
product by ordinary individuals, satisfied customers or people specifically engaged
to create word of mouth momentum. Sales staff often plays an important role in
word of mouth and public relations (see 'product' above). The promotional mixs
goal is to inform, persuade and remind your customer about your product or service.
The promotional mix uses advertising, which is a paid form of non-personal
presentation. Personal selling is used either by phone or face to face to the prospect,
for example, to address your customers' concerns and answer their questions
directly. Public relations are firms communicating with their customers, employees
and stockholders. It is important that a business have a solid reputation with
customers. For example, one way firms communicate is by sending out newsletters
or press releases. Sales promotion includes inducements with the purpose of
encouraging customers to buy, such as cents off coupons. Merchandising is used in
the store to stimulate sales. Examples include displays, signs and posters.
There are five main aspects of a promotional mix.[1] These are:
Advertising - Presentation and promotion of ideas, goods, or services by an

identified sponsor. Examples: Print ads, radio, television, billboard, direct mail,
brochures and catalogs, signs, in-store displays, posters, motion pictures, Web pages,
banner ads, and emails.
Personal selling - A process of helping and persuading one or more prospects to

purchase a good or service or to act on any idea through the use of an oral
presentation.Examples: Sales presentations, sales meetings, sales training and incentive
programs for intermediary salespeople, samples, and telemarketing. Can be face-to-face
selling or via telephone.
Sales Promotion - Media and non-media marketing communication are

employed for a pre-determined, limited time to increase consumer demand,
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stimulate market demand or improve product availability. Examples: Coupons,

sweepstakes, contests, product samples, rebates, tie-ins, self-liquidating premiums, trade
shows, trade-ins, and exhibitions.
Public relations - Paid intimate stimulation of supply for a product, service, or

business unit by planting significant news about it or a favorable presentation of
it in the media.Examples: Newspaper and magazine articles/reports, TVs and radio
presentations, charitable contributions, speeches, issue advertising, and seminars.
Direct Marketing is a channel-agnostic form of advertising that allows businesses

and nonprofits to communicate straight to the customer, with advertising
techniques such as mobile messaging, email, interactive consumer websites,
online display ads, fliers, catalog distribution, promotional letters, and outdoor
advertising.
Corporate image Corporate image may also be considered as the sixth aspect of
promotion mix. The image of an organization is a crucial point in marketing. If the
reputation of a company is bad, consumers are less willing to buy a product or use a
service from this company as they would have been, if the company had a good
image. Sponsorship is sometimes added as an seventh aspect.[1]
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Question 19: List 5 ways of promoting your product.
Give details about all components of promotion mix

that you will use.
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Question 20: Any schemes for

The wholesaler
The retailer
The consumer
Give specific Sales Promotion techniques that will be used.
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Question 21: What is going to be your U.S.P?
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Question 22: Draft a social message for your label.
Very crucial question.
Indentify your target market carefully and choose a social

issue that will be relevant to them
Then draft your social message and try to gauge its

impact.
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Conclusion
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Summarized suggestions or findings, future scope of study. This must

incorporate:
1. Type of product /service identified and the (consumer/industries)

process involve there in.
2. Brand name and the product.
3. Range of the product.
4. Identification mark or logo.
5. Tagline.
6. Labeling and packaging.
7. Price of the product and basis of price fixation.
8. Selected channels of distribution and reasons thereof.
9. Decisions related to transportation and warehousing. State reasons
10. Promotional techniques used and starting reasons for deciding the
particular technique.
11. Grading and standardization.
Also, give a summary of your study for the topic studied specifying:
o
The relevance of the topic in todays context
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Learning from
the Project
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Can be given as:
How you have been able to relate the theory in your syllabus to its practical
application.
Anything else that you feel you have learnt about the real functioning of an
organisation.
Any other skills developed such as such as skills of team work, problem
solving, time management, information collection, processing, analyzing and
synthesizing relevant information to derive meaningful conclusions etc
Also, answer the following:

o
How did you initially decide on the topic
Did you take advice from anyone or refer to any publication? Why?
Did you feel you needed to rework your strategies?
If you were to do this activity again, what would you do differently?
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Appendix
Page 81 of Business Studies Project (Marketing Manahement): Class XII
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1. Persons/Firms Consulted
2. Books Referred To, Including your Text Book
3. Websites Referred to
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Teachers
Observation
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Marketing Management Project Evaluation Performa
Students Name
: _________________________________________________
Roll No:
: _________________________________________________
Class and section
: XII Section ____________________
Teachers Assessment:
Marks Obtained
Maximum Marks
: 10 Marks
Overall Remarks:
..
.
Internal Teachers
Signature
External Teachers
Signature
....
Date

Elements of Marketing Management Project

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practical examination in Business Studies conducted by the

Date of Submission: Friday, 12th of December, 2014

Page 2 of Business Studies Project (Elements of Marketing Management): Class XII

Page 3 of Business Studies Project (Elements of Marketing Management): Class XII

Element of Marketing Mix

2. Problem Statement / Objective of Project:

The objective of the project is to develop a detailed marketing plan for

Page 4 of Business Studies Project (Elements of Marketing Management): Class XII

Observations And Findings

Learning From The Project

Page 5 of Business Studies Project (Elements of Marketing Management): Class XII

Page 6 of Business Studies Project (Elements of Marketing Management): Class XII

Acknowledge the following:

Your subject teacher,

Any person or institution that helped you,

Any places visited and the persons who have helped

Page 7 of Business Studies Project (Elements of Marketing Management): Class XII

Page 8 of Business Studies Project (Elements of Marketing Management): Class XII

Introduce the topic studied.

Give the theory of Project as given in the following page.

Give an introduction of Marketing.

Give details about the 4 Ps of Marketing Mix.

Page 9 of Business Studies Project (Elements of Marketing Management): Class XII

HISTORY AND ADVANTAGES OF USING THE PROJECT METHOD

Page 10 of Business Studies Project (Elements of Marketing Management): Class XII

designing a playground, or publishing a class newspaper. The projects may be

Page 12 of Business Studies Project (Elements of Marketing Management): Class XII

Marketing management is a business discipline which focuses on the practical

Physical Products : DVD player, Motor cycle, ipods, Cell phone,

Services : Insurance, Health Care, Business Process Outsourcing,Security,

Ideas : Polio Vaccination, Helpage, Family Planning, Donation of Blood (Red

Persons : For Election of Candidates for Certain Posts.

Page 13 of Business Studies Project (Elements of Marketing Management): Class XII

Place : Visit Agra City of Love, Udaipur The City of Lakes,Mysore

Experience : Customised Experiences as Dinner with a cricketer (say Dhoni);

Properties : Intangible rights of ownership of real estate in financial property

Information : Production packaging and distribution of information by

Organisations : For boosting their public image organisations such as

Non-controllable factors and Controllable factors:

Page 14 of Business Studies Project (Elements of Marketing Management): Class XII

Producing satisfying products

Offered to buyers at a reasonable

Product (or Service).

Product mix relates to decisions regarding planning, developing and

goods/services/anything of value that is offered to the market for

What does the customer want from the product/service? What

Page 15 of Business Studies Project (Elements of Marketing Management): Class XII

Are there any features you've missed out?

Are you including costly features that the customer

How and where will the customer use it?

What does it look like? How will customers experience it?

What size(s), color(s), and so on, should it be?

How is it differentiated versus your competitors?

What is the most it can cost to provide, and still be sold

Channels of distribution- selection of intermediaries/dealer to reach the

Physical distribution-managing inventory, storage, warehousing and

Where do buyers look for your product or service?

If they look in a store, what kind? A specialist boutique or in a

How can you access the right distribution channels?

Do you need to use a sales force? Or attend trade fairs? Or

Page 16 of Business Studies Project (Elements of Marketing Management): Class XII

What is the value of the product or service to the buyer?