MB0046- Marketing Management

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2
SUBJECT CODE & NAME	MB0046- Marketing Management
BK ID	B1629
SEMESTER	2
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme

Question.1. Explain the constituents of an expanded marketing mix with the help of suitable examples.

Answer:The use of a marketing mix is an excellent way to help ensure that ‘putting the right product in the right place,…’ will happen. The marketing mix is a crucial tool to help understand what the product or service can offer and how to plan for a successful product offering. The marketing mix is most commonly executed through the 4 P’s of marketing: Price, Product, Promotion, and Place.

The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet the needs of its targeted market. Traditionally the marketing mix consisted of just 4 Ps.

For example, a motor vehicle manufacturer like Audi:

Question.2. Describe the scenario building approach of environmental scanning with the help of an example.

Answer:Environmental scanning is a useful managerial tool for assessing the environmental trend. The following process is adopted for environmental scanning.

Study the forces and Nature of the Environment: In the first step of environmental scanning, the forces of the environment that have got significant bearing in the growth and development of the business should be identified. They may be political,

Question.3. Explain the various characteristics that affect the consumer buying behavior.

Answer:Out of 11000 new products introduced by 77 companies, only 56% are present after 5 years. Only 8% of new product concepts offered by 112 leading companies reached the market. Out of that 83% failed to meet marketing objectives. What we need to understand here is why consumers make the purchases that they make, what factors influence consumer purchases and changing factors in our society.

Question.4. What are the advantages of Branding? What value does the organization & customers get out of the branding process?

Answer:Almost every business has a trading name, from the smallest market trader to the largest multi-national corporation. Only a minority of those businesses however, have what could be classed as a brand.

Branding is the process of creating distinctive and durable perceptions in the minds of consumers. A brand is a persistent, unique business identity intertwined with associations of personality, quality, origin, liking and more.

Question.5. What do you meant by marketing channel? What are the important functions of marketing channels?

Marketing channel

Important functions of marketing channels

Answer:A marketing channel is a set of practices or activities necessary to transfer the ownership of goods from the point of production to the point of consumption. It is the way products and services get to the end-user, the consumer; and is also known as a distribution channel. A marketing channel is a useful tool for management, and is crucial to creating an effective and well-planned marketing strategy.

Another less known form of the marketing channel is the Dual Distribution channel. This channel is a less traditional form that allows the manufacturer or

Question.6. Write short notes on:

a) Break –even pricing

Answer:Break even pricing is the practice of setting a price point at which a business will earn zero profits on a sale. The intention is to use low prices as a tool to gain market share and drive competitors from the marketplace. By doing so, a company may be able to increase its production volumes to such an extent that it can reduce costs and then earn a profit at what had previously been the break even price. Alternatively, once it has driven out competitors, the company can raise its prices sufficiently to earn a profit, but not so high

b) Mark-up pricing

Answer:Several varieties of markup pricing - also known as cost-plus pricing - exist, but the common thread is that one first calculates the cost of the product, then adds a proportion of it as markup. The amount to be marked up is decided at the discretion of the company. Basically, this approach sets prices that cover the cost of production and provide enough profit margin to the firm to earn its target rate of return.

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