Thursday, 18 December 2014

Service Marketing

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National Institute of Business Management
Chennai - 020
THIRD SEMESTER MBA

Subject : Service Marketing

Attend any 4 questions.  Each question carries 25 marks
(Each answer should be of minimum 2 pages / of 300 words)


1.Explain the activities and functions of Marketing Management.
Answer : Management is the processes of planning, organizing directing motivating and coordinating and controlling of various activities of a firm. Marketing is the process of satisfying the needs and wants of the consumers. Management of marketing activities is Marketing Management.
Management Guru Philip Kotler defines marketing as “Marketing Management is the analysis, planning, implementation anc control of programmes designed to bring about the desired exchanges with target audiences for the purpose of personal and mutual gain. It relies heavily on adoption and coordination of the product, price, promotion and place for achieving response”:
In other words, a business discipline, which is focused on the practical application of marketing techniques and the management of a firm’s marketing resources and activities, is Marketing Management.



2.How is distribution an important aspect of marketing? Explain.

Answer : Physical distribution is the group of activities associated with the supply of finished product from the production line to the consumers. The physical distribution considers many sales distribution channels, such as wholesale and retail, and includes critical decision areas like customer service, inventory, materials, packaging, order processing, and transportation and logistics. You often will hear these processes be referred to asdistribution, which is used to describe the marketing and movement of products.

Accounting for nearly half of the entire marketing budget of products, the physical distribution process typically garnishes a lot of attention from



3.Why are stock markets important? Explain.
Answer : Stock market is an important part of the economy of a country. The stock market plays a play a pivotal role in the growth of the industry and commerce of the country that eventually affects the economy of the country to a great extent. That is reason that the government, industry and even the central banks of the country keep a close watch on the happenings of the stock market. The stock market is important from both the industry’s point of view as well as the investor’s point of view.

Whenever a company wants to raise funds for further expansion or settling up a new business venture, they have to either take a loan from a financial organization or they have to issue shares through the stock market. In fact the stock



4.Examine the different aspects to any product or service.
Answer :

5.Marketing Management is a business discipline focused on the practical applications of marketing techniques. Justify and Explain.
Answer :



6.Explain the levels of marketing strategy.
Answer : Strategy may operate at different levels of an organization -corporate level, business level, and functional level. The strategy changes based on the levels of strategy.

Corporate Level Strategy

Corporate level strategy occupies the highest level of strategic decision-making and covers actions dealing with the objective of the firm, acquisition and allocation of resources and coordination of strategies of various SBUs for optimal

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25 x 4=100 marks


Quantitative Techniques for Business Analysis

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National Institute of Business Management
Chennai - 020
THIRD SEMESTER MBA

Subject : Quantitative Techniques for Business Analysis

Attend any 4 questions.  Each question carries 25 marks
(Each answer should be of minimum 2 pages / of 300 words)



1.Write a detailed account on Average and Dispersion.
Answer : Average
Definition: Average refers to the sum of numbers divided by n. Also called the mean average.
Sums of data divided by the number of items in the data will give the mean average. The mean average is used quite regularly to determine final math marks over a term or semester. Averages are often used in sports: batting averages which means number of hits to number of times at bat. Gas mileage is determined by using averages.
Also Known As: Central tendency. A measure of the middle value of the data set.
Examples:
If the average temperature this week was 70 degrees, the temperature would have been taken each day over the 7 days. Those temperatures wou



2.Explain the rules of Probability .
Answer :

3.Explain the purpose of graphs and diagrams.
Answer :

4.Is the sample representative of the population? Explain.

Answer : Population sampling is the process of taking a subset of subjects that is representative of the entire population. The sample must have sufficient size to warrant statistical analysis.
Sampling is done usually because it is impossible to test every single individual in the population. It is also done to save time, money and effort while conducting the research.
Still, every researcher must keep in mind that the ideal scenario is to test all the individuals to obtain reliable, valid and accurate results. If testing all the individuals is impossible, that is the only time we rely on sampling techniques.




5.Why is statistics important? Explain.


Answer : If you’re taking a statistics class right now, you might be wondering just when exactly you’re going to use this. Most people who aren’t business majors or math majors often wonder what they need statistics for as it seems to be something only majors similar to those would need. However, statistics plays an important role in a great number of different fields, some of which you might not have expected. Here’s a list of fields that use statistics and why it’s important to each field.
The Role of Statistics in Business

If you’re a business major, you’re fam





6.What are the sources and types of Data?

Answer : Data are organized into two broad categories:
Qualitative Data: Information that is difficult to measure, count or express in numerical terms. An example of qualitative data would be how safe a resident feels in his or her apartment.
Quantitative Data: Information that can be expressed in numerical terms, counted or compared on a scale. An example of quantitative data would be the number of 911 calls received in a month.

Qualitative Research

Qualitative research explores attitudes, behavior and experiences through such methods as interviews or focus groups. It attempts to get an in-depth opinion from participants. As it is attitudes, behavior and experiences that
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Quality Systems Management

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National Institute of Business Management
Chennai - 020
THIRD SEMESTER MBA

Subject : Quality Systems Management

Attend any 4 questions.  Each question carries 25 marks
(Each answer should be of minimum 2 pages / of 300 words)


1.Explain the applications of Quality Cost with a suitable example.
Answer:



2.Describe the different type of Benchmarking.

Answer: Before more recent technology was invented, surveyors would chisel a horizontal mark in a permanent structure, like the one below, where a tool could be placed in the indention to help create a bench mark with a level rod, helping them and future craftsmen to have a point of reference for building.

Benchmarking is the process of comparing the cost, cycle time, productivity, or quality of a specific process or method to another that is widely considered to be an industry standard or best practice. Essentially, benchmarking provides a snapshot of the performance of your business and helps you understand where you are in relation to a



3.Explain the reasons for adopting benchmarking program by an organization as a catalyst for change.

Answer: Benchmarking is the process through which a company measures its products, services, and practices against its toughest competitors, or those companies recognized as leaders in its industry. Benchmarking is one of a manager's best tools for determining whether the company is performing particular functions and activities efficiently, whether its costs are in line with those of competitors, and whether its internal activities and business processes need improvement. The idea behind benchmarking is to measure internal processes against an external standard. It is a way of learning which companies are best at performing certain



4.Write an essay on the aims or objectives of Quality Control.
Answer: Meaning and Importance:

Present era is the ‘Era of Quality’.In this age of cut­throat competition and large scale production, only that manufacturer can survive who supplies better quality goods and renders service to-the consumers. In fact quality control has become major consideration before establishing an industrial undertaking. Proper quality control ensures most effective utilisation of available resources and reduction in cost of production.


The word quality control comprises of two words viz., quality and control. It would be appropriate to explain these two words separately to understand clearly the meaning of quality control.


5.What are the steps listed in the certification procedure of the European CE directive?
Answer:



6.What is the role of Software Quality Assurance Group?

Answer: Once a software product undergoes different stages of development phase, a big task is to employ software quality assurance strategies to ensure the adaptation of the end product in the company's environment. The quality assurance of a software product is an ongoing process, which begins as soon as software is in its nascent stage of development. The product designed by software development offshore company must be process compliant to run successfully in business environment. The company offering offshore software development solutions, often works in association with management team to assure the quality of product. Thus, a key role is played by management team in making the end product adhered to

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25 x 4=100 marks

Managerial Economics

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National Institute of Business Management
Chennai - 020
THIRD SEMESTER MBA

Subject : Managerial Economics

Attend any 4 questions.  Each question carries 25 marks
(Each answer should be of minimum 2 pages / of 300 words)


1.Explain investment decisions under certainty.
Answer :

2.Write an essay on National Income – concept and measurement.
Answer : National Income is the money value of all final goods and services produced in an economy during a financial year. At the level of an economy, value of fined goods and services is equal to the total income of all factors of production viz labour, capital, land and entrepreneurship.
This total income is equal to total expenditure on goods and services. Therefore, in an economy,
There are different measures of national income like Gross National Product (GNP), Net National Product (NNP), Gross Domestic Product (GDP), Net Domestic Product (NDP), etc.
These are often used interchangeably though conceptually there is some difference among them. Difference between GNP and NNP arises because of depreciation (consumption of fixed capital).
There is same difference between GDP and NDP


3.Explain the techniques of forecasting demands.
Answer : Broadly speaking, there are two approaches to demand forecasting- one is to obtain information about the likely purchase behavior of the buyer through collecting expert’s opinion or by conducting interviews with consumers, the other is to use past experience as a guide through a set of statistical techniques. Both these techniques of demand forecasting rely on varying degrees of judgment. The first method is usually found suitable for short-term forecasting, the latter for long-term forecasting. There are specific techniques which fall under each of these broad methods.



4.Write an essay on the theory of cost and Break-Even-Analysis.

Answer : Break-even analysis is a technique widely used by production management and management accountants. It is based on categorising production costs between those which are "variable" (costs that change when the production output changes) and those that are "fixed" (costs not directly related to the volume of production).

Total variable and fixed costs are compared with sales revenue in order to determine the level of sales volume, sales value or production at which the business makes neither a profit nor a loss (the "break-even point").



5.Explain the techniques of statistical methods of demand projection.

Answer :  Demand estimation is predicting future demand form a product. The information regarding future demand is essential for planning and scheduling production, purchase of raw materials, acquision of finance and advertising.

The various techniques of demand estimation: -

1)    Survey Method

2)    Statistical Method


6.What are the phases of Business Cycles?
Answer :

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25 x 4=100 marks

Management Research

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National Institute of Business Management
Chennai - 020
THIRD SEMESTER MBA

Subject : Management Research

Attend any 4 questions.  Each question carries 25 marks
(Each answer should be of minimum 2 pages / of 300 words)


1.What are the basic rating scales? Explain the criteria for a good measurement of acceptable quality.
Answer : The term scaling is applied to the attempts to measure the attitude objectively. Attitude is a resultant of number of external and internal factors. Depending upon the attitude to be measured, appropriate scales are designed. Scaling is a technique used for measuring qualitative responses of respondents such as those related to their feelings, perception, likes, dislikes, interests and preferences.

Nominal Scale
This is a very simple scale. It consists of assignment of facts/choices to various alternative categories which are usually exhaustive as well mutually exclusive.



2.What are the principles for establishing categories for coding? Explain.
Answer :


3.Explain Sampling Process.
Answer : A Sampling is a part of the total population. It can be an individual element or a group of elements selected from the population. Although it is a subset, it is representative of the population and suitable for research in terms of cost, convenience, and time. The sample group can be selected based on a probability or a non probability approach. A sample usually consists of various units of the population. The size of the sample is represented by “n”.

Sampling is the act, process, or technique of selecting a representative part of a population for the purpose of determining the characteristics of the whole population. In other words, the process of selecting a sample from a population using





4.Explain the types of scales used in measuring behavior in social and educational research.

Answer : A topic which can create a great deal of confusion in social and educational research is that of types of scales used in measuring behaviour.
It is critical because it relates to the types of statistics you can use to analyse your data. An easy way to have a paper rejected is to have used either an incorrect scale/statistic combination or to have used a low powered statistic on a high powered set of data.

·         Nominal
·         Ordinal
·         Interval
·         Ratio



5.How are data prepared and processed?

 

Answer : Data Preparation

Data Preparation involves checking or logging the data in; checking the data for accuracy; entering the data into the computer; transforming the data; and developing and documenting a database structure that integrates the various measures.

Logging the Data

In any research project you may have data coming from a number of different sources at different times:
  • mail surveys returns
  • coded interview data


6.What are the levels at which marketing research must be evaluated and controlled?
Answer :

25 x 4=100 marks
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Business Environment

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National Institute of Business Management
Chennai - 020
THIRD SEMESTER MBA

Subject : Business Environment

Attend any 4 questions.  Each question carries 25 marks
(Each answer should be of minimum 2 pages / of 300 words)



1.What are the three objectives of Business? Explain.
Answer : Your business objectives are the results you hope to achieve and maintain as you run and grow your business. As an entrepreneur, you are concerned with every aspect of your business and need to have clear goals in mind for your company. Having a comprehensive list of business objectives creates the guidelines that become the foundation for your business planning.

There are not only three but more than three objectives of business which are discussed below :

Profitability
Maintaining profitability means making sure



2.Explain the philosophy of system dynamics modeling of Organizational Structure.
Answer :



3.Do social obligations conflict with profit objective in business?
Answer : Business ethics are moral principles that guide the way a business behaves. The same principles that determine an individual”s actions also apply to business.

Acting in an ethical way involves distinguishing between “right” and “wrong” and then making the “right” choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labour. They should not unlawfully use copyrighted materials and processes. They should not engage in bribery.


However, it is not always easy to create similar hard-and-fast definitions of good ethical practice. A company must make a competitive


4.Describe the impact of internal and external environments prevalent in business organization in India and how this will affect the organizational structure in this country.
Answer :



5.There is a close relationship between a business firm and its surrounding environment. Explain the key factors of environment.

Answer : The marketing environment surrounds and impacts upon the organization. There are three key elements to the marketing environment which are the internal environment, the microenvironment and the macroenvironment. Why are they important? Well marketers build both internal and external relationships. Marketers aim to deliver value to satisfied customers, so we need to assess and evaluate our internal



6.What are the characteristics and basic principles of objectives of a business?

Answer : Decide In Advance What You Want
The most important military principle is the Principle of the Objective. This principle requires that you decide in advance exactly what it is that you are trying to accomplish. What exactly is your objective? In my experience, fully 80% of all problems in personal and corporate life come from a lack of clarity with regard to objectives and goals.

Clarity Is Critical
Clarity of objective precedes all other elements in strategic thinking. Here are some questions that you can use over and over again to focus and clarify your objectives. The first question is, "What am I trying to do?" The second question is, "How am I trying to do it?" The third question is, "What are my assumptions?" And the fourth question is, "
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25 x 4=100 marks

MARKETING MANAGEMENT

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AEREN FOUNDATION’S                                                                              Maharashtra Govt. Reg. No.: F-11724
LOGO

 





                                               




SUBJECT : MARKETING MANAGEMENT





A) Discuss Various Marketing Research Instruments. Give suitable examples (one example /instrument)? (10 Marks)
Answer : The most common research instrument is the questionnaire. Keep these tips in mind when designing your market research questionnaire.

When market research goes wrong, it's usually the result of a poorly designed market research questionnaire.

When designing market research instruments,




B) Describe following in context of new product development (NPD)? (10 Marks)


1. The new product development decision process

Answer : Because introducing new products on a consistent basis is important to the future success of many organizations, marketers in charge of product decisions often follow set procedures for bringing products to market. In the scientific area that may mean the establishment of ongoing laboratory research programs for discovering new products (e.g., medicines) while less scientific companies may pull together resources for product development on a less structured timetable.

7-step process comprising the key elements




2. Risk factors hindering new product development

Answer : Shortage of important ideas in certain areas: There may be few ways left to improve some basic products (such as steel or detergents).
Fragmented markets: Companies have to aim their new products at smaller market segments, and this can mean lower sales and profits for each product.
Social and governmental constraints: New product has to satisfy consumer safety and environmental concerns.




C) Illustrate the marketing mix for any two of the following? (15 Marks)
1. Cafe Coffee Day
Answer : The leading coffee chain across the world, Cafe coffee day has several products which appeal to the Indian audience and it has a price which is very much affordable for the upper middle class of India. The promotions are amazing and it has numerous retail outlets which are growing in number across India. This article discusses the marketing mix of Cafe coffee day.
Product:



2. Dr. Batra’s clinic
3. Lux Soap
Lux soap was first launched in 1916 as laundry soap targeted specifically at'delicates'. Lever Brothers encouraged women to home launder their clotheswithout fear of satins and silks being turned yellow by harsh lyes that were oftenused in soaps at the time. The flake-type soap allowed the manufacturer someleeway from lye because it did not need to be shaped into traditional cake-shapedloaves as other soaps were. The



4. HP( Hewlett Packard)




D) Illustrate with examples, the differences between Product marketing & Services marketing? (10 Marks)
Answer : The whole “product versus service marketing” topic is nothing new to marketers all over the world.  Google the term and you will find more than enough material on topics such as the tangibility versus intangibility and how product marketing is relatively easier as compared to services marketing. I have collaborated with both software services and software product marketing teams over the years and the experience has been very different.

A key point that marketers have to remember is that the customer is the best advertiser, be it a product or a service. It is basic human nature to go for the tried, tested and validated products/services. This comes from our innate



E) Illustrate with examples, the methods/ways of evaluating advertising effectiveness? (10 Marks)

Answer : METHOD OF EVALUATING ADVERTISING EFFECTIVENESS:

1)      Method of evaluating advertising effectiveness: Method of evaluating advertising effectiveness Measuring ad-effectiveness is also known as ad-testing. There are different test available for measuring ad-effectiveness, they are as follows:- Pre-testing method Post-testing method Concurrent testing method

2)      pre-testing method: pre-testing method Pre-testing method- In pre-testing methods, testing of advertising is done during its development process or after creating advertisement but before implementing it on full scale basis, here, ad is tested in trial area to know its weakness. Following method are generally used as pre-testing methods for evaluating advertising effectiveness:-


F) Discuss the factors which contribute in deciding the “price” of the product? Discuss various pricing methods? (10 Marks)


Answer : The pricing decisions for a product are affected by internal and external factors.
A. Internal Factors:
1. Cost:
While fixing the prices of a product, the firm should consider the cost involved in producing the product. This cost includes both the variable and fixed costs. Thus, while fixing the prices, the firm must be able to recover both the variable and fixed costs.
2. The predetermined objectives:
While fixing the prices of the product, the marketer should con­sider the objectives of the firm. For instance, if the objective of a firm is to increase return on investment, then it may charge a higher price, and if the objective is to capture a l




G) “Laco Industries “has planned to introduce new baby shampoo in the kids market. The company conducted a research in selected tier II cities in India to know the demand & successfully
launched its product. In this context, discuss the characteristics of the good research? (15 Marks)

Answer : Marketing research can give a business a picture of what kinds of new products and services may bring a profit. For products and services already available, marketing research can tell companies whether they are meeting their customers' needs and expectations. By researching the answers to specific questions, small-business owners can learn whether they need to change their package design or tweak their delivery methods--and even whether they should consider offering additional services.
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