Elective: Marketing Management (Part - 2)

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National Institute of Business Management

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EMBA/ MBA

Elective: Marketing Management (Part - 2)

Attend any 4 questions.  Each question carries 25 marks

(Each answer should be of minimum 2 pages / of 300 words)

1. How is a business success determined? Explain.

Answer: Small business owners can do a lot to help ensure their success by planning in advance. Creating a business plan is one key step successful business owners take on the road to success. Knowing your customers and how to reach them through advertising and various promotions also pays off. Ultimately, successful businesses are determined by certain metrics or measurements as well as the ethical manner in which they conduct themselves.

Profit

One of the most important aspects of business success is earning a profit. Small businesses that fail to turn a profit will eventually fall by the wayside. You must find a way to get into profit as quickly as possible as a small business owner. One way

2. What are the factors outside the firm that affects the operations of a business? Explain with the help of figure?

Answer:

3. Explain the principal sources from which data is obtained in Market Research.

Answer: There are two sources of information from where data for marketing research can be obtained.

(A) Internal Sources:

These refer to the sources of information within the organisation. In certain cases internal sources are indispensable without which the researcher cannot obtain desired results. Internal sources include accounting information (Trading Profit & Loss A/c and Balance Sheets of different years), salesmen’s reports, statistics in relation to

4. Discuss the policies of price determination.

Answer: Some of the major steps involved in price determination process are as follows: (i) Market Segmentation (ii) Estimate Demand (iii) The Market Share (iv) The Marketing Mix (v) Estimate of Costs (vi) Pricing Policies (vii) Pricing Strategies (viii) The Price Structure.

Decisions on pricing are taken in the light of marketing opportunities, competition and many other valuables influencing pricing.

The Price decision must take into account all f

5. Explain the sales strategies in management of sales.

Answer: When we hear Sales Strategy we often think of our marketing department and their strategy to position what we are selling.  As sales reps and sales managers we don’t often think of ourselves as strategists, but we should.  Creating a successful Sales Strategy will allow sales managers and their sales team to focus on the right customers, in the right ways, and at the right times.

Any successful Sales Strategy should be based on all aspects of the Sales Execution Model. As we learned, the overall setup of the Sales Execution Model consists of 3 phases in which we will build our Sales Strategy around; Pre-Sales Activities, Sale Execution, and Post-Sale Analysis.

Planning the Sales Strategy Plan

6. What is Merchandising? Explain.

Answer:

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