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MARKETING
MANAGEMENT
EMB 105
Answer any five questions
Q. 1. What are the Highlights of Production
and Sales Orientations?
Answer:The concept of marketing has evolved over time. Whilst in today’s
business world "the customer is king". In the past this was not the
case, some businesses put factors other than the customer first. This article examines
factors that businesses may orientate their marketing around, so that you can
recognise when your marketing strategy is orientated around something other
than the customer.
Production Orientation: The focus for the business is to reduce costs
through mass production. A business orientated around production believes that
the "economies of scale" generated by mass production will reduce
costs and maximise profits. A production
Q. 2. What is Total customer satisfaction?
Explain
Answer:Customer satisfaction is probably your number one consideration if you
run a business. Although your employees, profits, and quality control should be
right up their, you know that if your customers are not satisfied you will not
be able to continue with your business. Although you might be able to get new
customers, you will need to keep old customers if you are going to have any
kind of success. Furthermore, word of mouth spreads for bad products and
services just as fast as it spreads for good ones. If your customers have poor
customer satisfaction you can bet that others will hear about it soon. So as
you are thinking about how to improve your business you obviously need to think
about how to improve customer satisfaction
Q. 3. How does Marketing planning flows
from the strategic plan of the organization
Answer:A company has to have an overall company mission which defines what the
company is all about and what makes it unique. For example, is the firm
concerned with selling consumer goods (B2C), weapons, heavy machinery (B2B),
etc.? Remember it is important not to
suffer from marketing myopia, and this is why a business must be defined in
terms of a need that is being satisfied and not an existing product. The
mission statement will also define the culture, values, and philosophy of the
firm. The mission statement provides
Q. 4. What are the Reasons for undertaking
sales forecasts?
Answer:Businesses are forced to look well ahead in order to plan their
investments, launch new products, decide when to close or withdraw products and
so on. The sales forecasting process is a critical one for most businesses. Key
decisions that are derived from a sales forecast include:
·
Employment
levels required
·
Promotional
mix
·
Investment
in production capacity Types of forecasting
Q. 5. What is the basic concept of
Sponsoring of Brand? What are the Benefits of Branding?
Answer:Sponsorship is the material support of an event, activity or organisation
by an unrelated partner. It is a good way of increasing brand awareness, which
helps to generate consumer preference and to foster brand loyalty. A company
can reinforce awareness among its target market by sponsoring an event or
organisation that attracts a similar target market.
Sponsorship is not an act of charity - it
must show some form of positive return on investment (ROI). Since sponsorship
is a business arrangement, standard evaluative criteria should be used to
establish the suitability of a proposed event in relation to
Q. 6. What are the Factors in
Organizational Buyer Behavior?
Answer:
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