What are the keys to marketing success?

Keys to marketing success can be summarized in below mentioned points:

a. the foremost important point is to satisfy the customer.
b. A company should have a clear image in order to achieve marketing success.
c. Thirdly work should be clearly distinct from other business activities in an organization. It
should be central to the entire organization.
d. Fourthly business should develop a unique strategy that is consistent with the
circumstances that it faces.

Mention the various components of marketing management

Marketing management components can be divided into following points:
a. Corporate level : It consists of companys mission and objectives.
b. Functional level : Non marketing and marketing institutions are included in it.
c. Marketing level : It consists of situation analysis, objectives, strategy, implementation,
budget, and evaluation.
d. The marketing mix consists of product, distribution, promotion, and price.

What were the different approaches used in marketing earlier?

There were three marketing approaches used earlier:
a. Production orientation: An organization which focuses on production specializes in
producing most of the given services and products without considering the quality.
b. Product orientation: An organization which focuses on product orientation is mainly
concerned with the quality of the products.
c. Selling orientation: An organization which uses sales orientation mainly focuses on the
selling or promoting a particular product, and not determining new consumer desires as
such.

Explain Service marketing. Also explain what is a service

a. Service marketing can be defined as marketing of services. Its not same for tangible
products. Services if compared with goods then neither all products are purely goods nor
services. In more clear words service can be defined as
b. use of the service is not separated from its purchase.

c. A service can never be in material form and therefore it cannot be touched, seen, heard,
tasted, or smelled.
d. The use of a service is inherently subjective, i.e. if many people are experiencing
services then each of them will experience it uniquely.

What are the current approaches used for marketing?

Current approaches used for marketing can be categorized in four categories:
a. Relationship marketing: This approach basically deals with customer satisfaction. The
whole emphasis is done on the relationship between the suppliers and customers.
b. Business Marketing: It does not focuses on consumer products rather it focuses on
industrial goods. All sort of marketing techniques are like promotion, advertising, etc are
used.
c. Social marketing: It focuses on marketing a product socially i.e. online.

What is an International marketing plan?

a. It involves the organization in making more then one marketing decisions across the
nations.
b. There are many reasons to enter an international market led by large market size and
diversification.
c. There are also several reasons to avoid entering international markets, including too
much red tape, trade barriers, and transportation difficulties .
d. The stages of going international are as follows: exporting, licensing, joint ventures,
direct investment, U.s. commercial centers, trade intermediaries, and alliances .

What is marketing communication?

Marketing communication can be defined as the efforts made by the seller to convey his
message to his buyers and to accept it in retrievable form. The main point of
communication process is persuasion. It is totally goal oriented. It is not an haphazard
activity. Each of its tool consists of specific complexities and potentialities that justify
managerial specialization.

What are the various types of marketing research?

Various types of marketing research are:

a. Field research: It is related to the research for a specific purpose.

b. Desk research: Usually it is conducted for one purpose initially but gradually it is used
to support another goal.
c. Xploratory research: It investigates an assumption..
d. Predictive research: This type of research is done to predict any future occurrence.
e. Conclusive research: This type of research is done to derive a conclusion of a
research process.

What is real-time marketing? How it became important?

Real time marketing can be defined as marketing done to a customer in a particular time
and place. It is the kind of marketing which seeks the most appropriate offer for a particular
customer. Real-time marketing is the outcome of customer relationship management
(CRM) solutions in major companies.Over time Real-time marketing became a big solution
for vendors and maturing customers. Vendors found themselves re-branding real-time
marketing products to suggest a more holistic appreciation of enterprise interaction
decision management.

What is interruption marketing?

Interruption marketing can be defined as promoting a product by the means of advertising,
public relation and sales. It is not suitable every time and depends upon company to
company. It is very much sales directed, so if a company has limited funds to invest for
advertising and wants quick results then interruption marketing is best. But at times it is not
considered a fruitful way of marketing.
What is the difference between Interruption marketing and permission marketing?
There is a vast difference between permission marketing and interruption marketing.
Permission marketing is getting found by the customers by itself by the means of SEO,
social media and content. It basically focuses on maintaining long term relationship with the
customers which is always helpful in long run whereas Interruption marketing focuses on
getting quick sales without any thought of long term relationship with customers. It just
targets on promoting the product by the means of advertising, promotion etc. to get quick
results.
Explain diversity marketing.
This type of marketing focuses on creating effective communication methods and mixing

with each of the diverse groups active in the market. Because different consumer groups
have experiences in different cultural and social settings, therefore diversity marketing
recognizes the importance of cultural programming and acknowledges the consumers
accordingly. Different cultural programming, the tastes, values, expectations, beliefs, ways
of interaction, ways of entertainment, and lifestyle preferences of these groups tend to be
different from others so these differences require the creation of customised marketing
strategies.
What is ethical marketing? Explain in brief.
Considering marketing ethics in the process of marketing is called ethical marketing. Briefly,
if we explain it is the philosophical examination, from a moral standpoint, of particular
marketing issues that are matters of moral judgment. It results into business community
which is much more responsible socially and culturally.Its existence is very much beneficial
to the society also. It should be the part of business ethics because it plays a very
significant part in any business model. It gives those benefits to its customers which other
companies does not even recognise.
What is segmented market?
Segmenting market is to segment the customer and organizations so that each segments
needs can be recognized and fulfilled properly. The advantage is that there is no need of
selling the product to all the segments of market infact a particular segment can be targeted
according to their requirements. Market segmentation is done in two steps:
a. First step is to identify and classify people into homogeneous groupings which are called
segments.
b. Second step is finding out which of these segments are target markets.
What are the objective of segmentation analysis?
The main essence of segmentation analysis is:
a. To minimize the risk in taking decisions regarding how, who, when and where to market a
a product service or a brand.
b. To maximize efficiency of marketing by directing effort towards a particular segment in a
consistent manner with that segment's characteristics.
What are the two major segmentation strategies followed by the marketing organizations?
The two strategies followed are:
a.Concentration strategy: This kind of segmentation strategy deals in a particular segment
of market and therefore they set their prices, etc accordingly. For eg Mercedes benz has
chosen to concentrate on the luxury segment of the the car market.

b.Multi segment strategy: This kind of segmentation strategy focuses on more then one
different market segments. They make separate marketing programs for separate
segments.
What are various kind of influences which affects consumer behaviour?
There are various influences, few of them are:
a. Situational Influences: Consist of Market offerings, Demographics and Complexity.
b. External Influences: Consist of Cultural, Social class Reference groups.
c. Internal factors and processes i. Psychological Characteristics - Motivation, Learning/socialization, Personality, Attitudes,
Lifestyle
ii. Decision Making - Recognize needs, Search for information, Evaluate alternatives, Make
purchase, Post purchase.
What is test marketing?
Test marketing is done in order to test the various variabilities including the elements of the
product in a marketing plan. It projects the actual launching of the whole marketing program
but on a limited basis. In short it can be said that it is the last step before the product is
released.
Mention the various steps of a new product development process.
Various steps which are followed is mentioned below:
a. Creating new product ideas
b. Go through ideas
c. Research and analyze
d. Technical and marketing development
e. Manufacturing planning
f. Marketing planning
g. Test marketing
h. Commercialization
What is false advertising?
False advertising is using false statements to promote products and increase profit lines for
a company or a brand. Such advertisements use deception to persuade people. Such
advertisements completely deny the right to know for consumers and are banned in many
countries. Still they have been a trend by finding legal ways to deceive people.

What is marketing?

Marketing can be referred to as a form of communication with your customers, with the help
of marketing tools such as advertising, promotion, publicity, design aspects related to the
look of the product etc. All these are aimed at getting the target audience (customer) to first
get interested in your product or service and then ultimately buy them.

Explain its core concepts.

Needs ,wants and demands are the core concepts of marketing. These are basically inter
related to each other which means needs which could be individualistic, social or physical
arise due to a state of deprivation and have to be fulfilled for a basic human survival. Some
human needs shaped by cultural and individual experiences and lifestyles take the form of
wants. Ultimately demands are those sets of wants which are backed by the power to buy
and could be related to many needs & wants. Other related concepts of marketing may
include the Marketplace with exchange and the actual transaction as its base.

Explain - Customer delivered value, Total customer value, Total

customer cost.
Customer delivered value
The term marketing does not revolve around fulfilling the needs of a consumer alone but
also includes the value that the consumer is deriving from the use of the said product or
service. This value is arrived at by subtracting what the product cost a consumer(total
customer cost) from the benefits derived by him from the product (Total customer value).
Total customer value
The sum total of all the benefits (Product value ,service value, personnel value, Image
value) that a customer derives from a product or a service is termed as the total customer
value . In other words these are the benefits that the vendor or seller provides in return of
the associated payments received from a customer.
Total customer cost
The total cost incurred by a customer in the process of evaluating what he wants to buy,

buying a product, using it and ultimately disposing it of is termed as total customer cost.
(monetary,time,energy,psychic)

Explain - Basic marketing, Reactive marketing, Accountable

marketing, Proactive marketing, Partnership marketing.
Basic marketing
Basic marketing is the set of activities used to get your potential customer's attention. After
this one has to formulate the communication in a manner so as to motivate them to buy.
Thereafter the efforts are directed towards getting the customers to actually purchase. And
then the ultimate goal that is to get them to buy the product again and again .This process
on the whole is referred to as basic marketing.
Reactive marketing
Reactive marketing is the most widely used approach in marketing. Reactive marketing is
based on the concept of react ,which mean for example if a competitor company is following
certain marketing practices with good resultant output we do the same by slight change in
design or price and adopting the same marketing policies. The ease of approach in reactive
marketing is the very reason for its popularity. At times due to stiff competition in the market
a firm might have no choice but to follow it so as to survive in the marketplace and make
profits.
Accountable marketing
Accountable marketing works on the concept that all the targeted marketing
communications should be accounted for in terms of the result or output they generate. In
other words every act of communication should concentrate on a unique selling or a benefit
driven point related to the product which ultimately results in motivating the customer and
adding on to the brand image of a brand or the product on a whole.
Proactive marketing

Proactive marketing basically is an innovative form of marketing which is based on new

ideas in terms of the creative content used as well as the creativity involved in the formation
of marketing strategies. It definitely involves a lot more work but the end result might be
much better than other forms of marketing. Doing something new and different in the market
place to attract the attention of the consumer is the core aspect of proactive marketing.
Partnership marketing
The customer is always looking for something more than what the actual benefits of a
product might be. Thus partnership marketing plays ball on the very fact to create marketing
communication and propositions for the customer which include value addition of benefits to
customer ,sourced and negotiated with a third partner. The benefit in this form of enhanced
propositions is that not only is it beneficial for the consumer and the brand but also for the
third partner by reducing costs of marketing communications. Partnership marketing
basically aims at adding more and more value to the benefits derived by a customer

What do you mean by marketing mix?

The term marketing mix is referred to the amalgamation and use of the four Ps of marketing
in a manner so as to attain the highest level of customer motivation to buy a particular
product or services. Price, place, product and promotion are elements which constitute the
four Ps of the marketing mix. Some commentators may increase the marketing mix to the
Five P's, to include people. Others may increase the mix to Seven P's, to include physical
evidence and process.

Explain its various components.

PRODUCT
Product is the bases for all the marketing activities undertaken because all the marketing
communications are aimed towards selling utmost quantities of the product .
PRICE
Price plays an important role in the success of a product or service. Not only is it a major
determining factor for the customer while buying a product but also plays a major part in

determining the image of a product in the mind of the customer. The seller has to also keep
in mind the profit element while deciding the price of a product. Thus a balance between all
the aspects has to be achieved to determine a balanced pricing strategy.
PLACE
To sell and buy a product or service a common place is required which is suitable for both
the customers as well as the sellers. The selection of a particular marketplace suitable is
very essential to match the product and brand image.
Promotion
Promotion is basically aimed towards creating an awareness in the market and the
customers mind about a particular product or service. Its cheaper than advertising and can
definitely be more credible .It helps strengthen the brand image and can be extensively
used for new product launch

What are the components of Macro environment?

Macro environment is basically referred to the area of external business operations of a
particular organization. The components of a macro environment have to be well analyzed
before planning the course of marketing programmes as it affects the very performance of a
product or an organization. All the factors affecting the performance of a firm in the macro
environment are referred to as the components which could be economic, demographic,
technological, natural, social ,cultural, legal and political.

What is buying behavior?

The decision making process which involves the period before, during and after buying or
purchasing a product is referred to as the buying behavior of a customer. The buying
behavior of the targeted customer has to be analyzed before the formation of any marketing
strategy aimed to achieve the targeted sells in the market. Since each targeted segment or
market might have a different kind of a buying behavior hence a different kind of approach is
needed to reach them.

What are the various buying behaviors exhibited by the

customers?
Routine Response - There are some products in the market which are purchased by the
customer almost without much thought such as bread, butter, milk etc. There is a very low
amount of involvement by the customer while purchasing these products. The human mind
gets programmed in a certain manner when it comes to purchase of such products hence it
is done without any prior thought or evaluation.
Limited Decision Making - There are certain products which are brought occasionally
hence we require some time to gather the information to make a decision. Due to the lack of
knowledge of the product segment in advance it requires limited decision making on the part
of the customer.
Extensive Decision Making/Complex high involvement, unfamiliar, expensive and/or
infrequently bought products.
Impulsive buying - At certain times we just come across a product and buy it impulsively
without any kind of prior planning, evaluation or thought.

What are the major factors influencing buying behavior?

The factors influencing buying behavior can be categorized into:
a. Personal factors,
b. Psychological factors
c. Social factors.
Personal factors can be related to the persons age, sex , race, religion, occupation,
educational qualifications, level of authority etc.
Psychological factors refer to motives related to the satisfying of needs and wants which can
either arise out of deprivation or for instant social status.

Social factors refer to the physiological and social level of hierarchy in the society the
consumer belongs to, which determine his motives of purchasing a product

What are the stages of buying decision process?

Stages of buying decision process:
Problem Recognition - This stage refers to recognizing a need or a want that has to be
satisfied.
Information search - This stage refers to the part of the decision process where in the
consumer searches information from different sources about the product he needs to buy. A
successful information search leaves a buyer with possible alternatives.
Evaluation of Alternatives - In this stage the consumer evaluates the alternatives he has
come across in the prior stage.
Purchase decision - This is a crucial stage where in the consumer decides on a alternative
and proceeds further about when to buy and the mode of purchase.
Purchase - This stage refers to the actual purchase made by the consumer depending on
the mode, payment conditions and the product availability.
Post-Purchase Evaluation - This stage will decide if the consumer will purchase the same
product again or if he is satisfied with the applications of the product in relation to his needs.
This can be improved by warranties, after sales services.

Explain Business market and Consumer market

a.)Business market
Business market in simple words is business to business market where in the products or
services of a particular organization are sold to or purchased by other organization or
business. It also happens in support industries where the products that are manufactured
are components required to be assembled into the products or services offered by some
other business organization.

b.) Consumer market

Consumer market refers to a market where in the seller sells the product for a primary
reason of making profits while buyer buys the products for personal use.

What are the major differences between the two?

In consumer market the purchase might even be made when the products are not required
in day to day activities. But in business market the business has to buy to stay profitable.
The business buyer is sophisticated in terms of the process involved in buying, decision
making while on the other hand the consumer in the consumer market might not be as
sophisticated
The business buyer is an information-seeker, constantly on the lookout for information and
advice. On the other hand the consumer only searches information when he requires to
make a decision.
Packaging is important in consumer market while its non existent in the business market.
Expert advice is taken while making purchases in the business market as against the
consumer market.
Consumer market product are simplistic while business products are complicated.

Who are the major participants in business buying process?

The major participants in business buying process are
Initiators-are the ones who initiate or recognize the need of a particular product requirement
in the organization for enhancement or to combat depravation.
Users-are the ones who are going to use the product or require it for the smooth functioning
of their operations.
Influencers --Influencers can be of different levels and the decisions that they influence

might differ from person to person or post to post. These are basically the people who will
influence the decision of which product to buy from where and what suitable price to buy it
in.
Deciders - they decide or have the authority to decide whether to buy a certain product or
not.
Approvers-they approve the deciders decision to by usually these people are authorized to
do so.
Buyers--They are the once who make the actually purchases from other business

Explain - Pure monopoly, Oligopoly, Monopolistic competition,

Pure Competition.
a.) Pure monopoly
Monopoly is a market situation in which there is only one seller of a product with barriers to
entry of others. The product has no close substitutes. He is a price maker who can set the
price to his maximum advantage. This may occur because the firm has a patent on a
product or a license from the government to be a monopoly .Pure monopoly occurs when
the producer is so powerful that he is always able to take the whole of all consumers
income whatever the level of his output is.
b) Oligopoly
Oligopoly is a market situation in which there are a few firms selling homogeneous or
differentiated products. It is difficult to pinpoint the number of firms in the oligopolist market.
There may be three or five firms. It is also known as competition among the few. With only a
few firms in the market the action of one firm is likely to affect the others. An oligopoly
industry may produce either homogenous or heterogeneous products.
c.) Monopolistic competition
Monopolistic competition refers to a market situation where there are many firms selling a
differentiated product. There is competition which is keen, though not perfect, among many

firms making very similar products. No firm can have any perceptible influence on the price
output policies of the other sellers nor can it be influenced much by their actions. Thus
monopolistic competition refers to competition among a large number of sellers producing
close but not perfect substitutes for each other.
d.) Pure Competition
In pure competition the number of buyers and sellers is very large. There is a perfect
competition among them. Price is determined for the entire industry by the forces of demand
and supply. All firms have to sell their product at that price. No firm can influence price by a
single action. Thus every firm is a price taker and a quality adjuster.

What are the qualities of useful market segments?

A market segment must have the following qualities;
Segments must have enough profit potential to justify developing and maintaining
Consumer must have heterogeneous needs for the product
Segmented consumer needs must be homogeneous
Company must be able to reach a segment with its planned efforts. Must be able to
measure characteristics & needs of consumers to establish groups.

What can be the bases for

a.) Product differentiation/ Services Differentiation
b.) Personnel Differentiation
c.) Image differentiation
a.) Product differentiation/ Services Differentiation
-Modify the objective properties of the products or services.
-Linking the sales and service function.
-Be the first to introduce a new product
-Physical location of a firm
-Mix of products or services sold
-Competitors linkage
-Maintain and improve its reputation

-Customization
-Sophistication of the product
-Marketing tools used
-After sales services offered
b.) Personnel Differentiation
-Should have good skills and knowledge
-Should be courteous
-Should always be consistent and accurate
-Should be trustworthy for the end consumer
-Should be quick in responses
-Should make effort to understand and communicate
c.) Image differentiation
-The identity should be well differentiated from the image
-Precise aim to identify itself to its customers.
-Perception of the firm in the minds of the consumer

What is PLC? Explain the stages of PLC?

Product life cycle refers to the presence of the product in the marketplace with respect to the
ups and down in its business costs and sales activities. Products usually have a limited life
and they pass through distinct stages, each posing different challenges, opportunities, and
problems to the seller. Products require different strategies in each life cycle stage.
The different stages in a product life cycle are:
Introduction stage-This stage refers to the period when the product has been introduced in
the marketplace targeted to a specific or wide segments. Due to less demand at this stage
the costs are high and the sales volume are low as also the competition is quite less in the
market. Demand has to be created so that customers are inclined towards trying the
product.
Growth stage- This stage refers to the period when the product has caught the market and

the demand for it is steadily growing. During this stage the costs are reduced due to higher
sales volumes as also the competition starts to begin with newer players. Prices are aimed
to increase the market share along with profitability being high.
Maturation stage- This stage refers to the period when the product is well established and
there is no need for publicity. During this period the costs are low and sales volume peaks
with increase in competition .Prices tend to drop and industrial profit go down.
Decline stage: During this stage the product is on a decline in the market. Costs become
counter-optimal and sales volume decline or stabilize. While profit becomes more a
challenge of production/distribution efficiency than increased sales

What are the common patterns observed in PLC?

The most important patterns observed in product life-cycles are:
- Even under normal conditions, patterns often cant be determined.
- In most markets the majority of the major brands hold positions for at least two decades.
- PLC of the brand leaders which monopolize many markets (around the globe), is usually
continuous.
- PLC is a dependent variable which is automated by market scenarios.
- PLC is not an independent variable to be considered while creating marketing plans.
- Marketing tools can easily alter the duration of a product life cycle.

What is a product?
Product refers to the bundle of tangible and intangible attributes that a seller offers to a
buyer in return of a particular predefined amount of payment in a particular mode. Goods,
ideas, methods, information, objects, services, etc., whose output serves as a need or want
satisfier.

Explain width, length and depth of a product mix.

Product mix usually refers to the length (the number of products in the product line), breadth
(the number of product lines that a company offers), depth (the different varieties of product
in the product line), and consistency (the relationship between products in their final
destination) of product lines.

What is a brand and what is the importance of brand

management?
A brand is the set of product or service attributes imbibed in the consumers mind in the
form of a name, symbol, logo, design and trademark. The importance of brand
management is:
- Product differentiation from competitors
- Building corporate image
- Creating bundle of benefits for different product categories
- Attract and retain the most loyal customers

What is brand positioning? Explain basis for positioning a brand

Brand positioning is a process in which marketers would like to occupy the rational space in
the minds of the target customers against competition.
The following are the basis for positioning a brand:
- Target audience
- Frame of reference
- Point of differentiation
- Reasons

What are the components of Brand Positioning?

The components of brand positioning are :
- Target audience
- Category/Industry/Market
- Unique selling proposition

What are the main responsibilities of a Brand Manager?

The major responsibilities of a brand manager are:
- To oversee the overall performance of the brand and will be a single point of contact for
overall profitability of the brand on a whole.
- To involve from budgeting to product development inclusive of pricing, packaging,

promotion to enhance brand image of the company

- To design market research studies with MR agencies and utilize the results to take better
business decisions regarding market assessment of the companys products
- To be involved with ad agencies to coordinate advertising, event management and
marketing communication activities
- And also, be familiar to handle overseas operations and willing to travel overseas in short
notice

What do you feel is the potential for Brand Management?

The potential for brand management will help the company to promote its image in the
society, differentiate its offerings from competitors, devise marketing communication
activities, protect its product features legally etc.

Assume you are a brand, describe your strengths and

weaknesses
My strengths are good communication, analytical and client servicing skills and flexibility to
any kind of environment.
My weakness is diversified concentration.
I position as a brand by means of catering to the mass market (Flexibility) with assortment
of product categories (diversified concentration) across geographies(flexibility) with high
quality product standards to the consumers

Define - Communication, Mass communication, Mass Media,

Culture
Communication - It refers to a message which has been originated from a source /sender
who send or rather encodes the data which is then received by and decoded by the
target/receiver. In simple words it is the process by which humans send and receive
information amongst each other.
Mass communication - Refers to the message sent by a person or a group to a large
anonymous audience through a specialized medium or a transmitting device.

Mass Media - Refers to a particular specialized part of the media which is designed to
reach a fairly large number of target audiences. Mass media in other words is the medium
by which mass communication takes place.
Culture- Refers to the totality of socially transmitted behavior patterns, arts, beliefs,
institutions, and all other products of human work and thought.

What are the various elements of mass communication?

The elements of mass communication are:
- Public who has to be communicated with
- Media(Medium) which is the means of communication
- Message because of which the process has been created
- Sender of the message
- Marketing, advertising, Public relations extra can be termed as the sub elements of mass
communication.
What is marketing?
Marketing can be referred to as a form of communication with your customers, with the
help of marketing tools such as advertising, promotion, publicity, design aspects related to
the look of the product etc....
Customer delivered value, Total customer value, Total customer cost.
The term marketing does not revolve around fulfilling the needs of a consumer alone but
also includes the value that the consumer is deriving from the use of the said product or
service....
Marketing types - Basic marketing, Reactive marketing, Accountable marketing,
Proactive marketing, Partnership marketing
Basic marketing is the set of activities used to get your potential customer's attention.
Reactive marketing is the most widely used approach in marketing. Reactive marketing is
based on the concept of....
What do you mean by marketing mix?
The term marketing mix is referred to the amalgamation and use of the four Ps of
marketing in a manner so as to attain the highest level of customer motivation to buy a
particular product....
What are the components of Macro environment?
Macro environment is basically referred to the area of external business operations of a

particular organization.....
What is buying behavior? What are the various buying behaviors exhibited by the
customers?
The decision making process which involves the period before, during and after buying or
purchasing a product is referred to as the buying behavior of a customer
What are the major factors influencing buying behavior?
The factors influencing buying behavior can be categorized into: a. Personal factors, b.
Psychological factors, c. Social factors....
What are the stages of buying decision process?
Stages of buying decision process - Information search, Evaluation of Alternatives,
Purchase decision, Purchase and Post-Purchase Evaluation....
Business market and Consumer market
Business market in simple words is business to business market where in the products or
services of a particular organization....
Who are the major participants in business buying process?
The major participants in business buying process are - initiators, users, influencers,
deciders, approvers and buyers.....
Pure monopoly, Oligopoly, Monopolistic competition, Pure Competition
Monopoly is a market situation in which there is only one seller of a product with barriers to
entry of others.....
What are the qualities of useful market segments?
A market segment must have the following qualities - segments must have enough profit
potential to justify developing and maintaining....
What can be the bases for - Product/Services, Personnel and Image Differentiation
Product differentiation / Services Differentiation - Modify the objective properties of the
products or services, Personnel Differentiation, Image differentiation....
What is PLC? Explain the stages of PLC?
The different stages in a product life cycle are: Introduction stage, Growth stage,
Maturation stage and Decline stage....
What are the common patterns observed in PLC?
The most important patterns observed in product life-cycles are - even under normal
conditions, patterns often cant be determined.....
What is a product? Explain width, length and depth of a product mix

Product refers to the bundle of tangible and intangible attributes that a seller offers to a
buyer in return of a particular predefined amount of payment....