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AEREN
FOUNDATION’S Maharashtra Govt. Reg.
No.: F-11724
Course : MBA 4th semester
SUBJECT :MARKETING MANAGEMENT
Total Marks - 80
N. B.: All Questions are Compulsory.
Q.1) Define term “Marketing Management” Discuss the elements of Market
Environment?(10 Marks)
Answer:Marketing management
is the organizational discipline which focuses on the practical application of
marketing orientation, techniques and methods inside enterprises and
organizations and on the management of a firm's marketing resources and
activities.
Globalization has led firms to market beyond the borders of their home
countries, making international marketing highly significant and an integral
part of a firm's marketing strategy. Marketing managers are often responsible
for
Q.2) Define the term Product Management? Explain how New Product
Decisions are made?(10 Marks)
Answer:Product management
is an organizational lifecycle function within a company dealing with the
planning, forecasting, and production, or marketing of a product or products at
all stages of the product lifecycle. Similarly, Product Lifecycle Management
(PLM) integrates people, data, processes and business systems. It provides
product information for companies and their extended supply chain enterprise.
The role may consist of product development and product marketing, which
are different (yet complementary) efforts, with the objective of maximizing
sales revenues, market share, and profit margins. Product management also
involves elimination decisions. Product elimination begins with identification
of elimination candidates, proceeds
Q.3) What is Customer relationship Management Explain its feature and
nature? (10 Marks)
Answer:Customer
relationship management (CRM) is a term that refers to practices, strategies
and technologies that companies use to manage and analyze customer interactions
and data throughout the customer lifecycle, with the goal of improving business
relationships with customers, assisting in customer retention and driving sales
growth. CRM systems are designed to compile information on customers across
different channels -- or points of contact between the customer and the company
-- which could include the company's website, telephone, live chat, direct
mail, marketing materials and social media. CRM systems can also give
customer-facing staff detailed information on customers' personal information,
purchase history, buying preferences and concerns.
Q. 4) Explain the nature and feature of Marketing research and Information
Systems?(10 Marks)
Answer:Marketing Research
has two words, viz., marketing and research.
·
Marketing
means buying and selling activities.
·
Research
means a systematic and complete study of a problem. It is done by experts. It
uses scientific methods.
Thus, we can say, “Marketing Research is a systematic method of
collecting, recording and analyzing of data, which is used to solve marketing
problems.”
A company faces many marketing problems. It
Q. 5) What is Market Measurement and Forecasting? (10
Marks)
Answer:Introduction Market
measuring and forecasting requires an analysis of the market with an aim of
expressing it in quantitative (numeric) quantities both present and in the
future. The quantitative measurement and forecasting of the market, together
with its qualitative characteristics, are used as a basis for decision making
by marketing management. Market measurement and forecasting can be seen as a
subdivision of market research. Once the research is complete, the company must
measure and forecast the size, growth, and profit potential of each market
opportunity
“Usually applied to fundamental measurement of market volume, value,
brand shares and the trends of all of these. Data for these may be collected
from secondary sources, from special censuses or surveys, or from syndicated
research such as
Q6) What is Segmenting and Targeting the Market? (10
Marks)
Answer:A market refers to a set up where two or more parties are
involved in transaction of goods and services in exchange of money. The two
parties here are known as sellers and buyers.
It is the responsibility of the
marketers to create awareness of their products amongst the consumers. It is
essential for the individuals to be aware of the brand’s existence. The USPs of
the brands must be communicated well to the end-users.
An organization can’t afford to
have similar strategies for product promotion amongst all individuals. Not
every individual has the same requirement and demand.
The marketers thus came with the
concept of STP.
Q7) What is Advertising Management? Explain the concept of Sales
Promotion and Personal Selling? (10
Marks)
Answer:Advertising
management is a career path in the advertising industry. Advertising and promotions managers may work
for an agency, a public relations firm, a media outlet, or may be hired
directly by a company to develop branding for the company's product or service.
This position can include supervising employees, acting as a liaison between
multiple agencies working on a project, or creating and implementing
promotional campaigns.
While advertising is the promotional campaign itself,
Q8) Write a short note (any two) (10
Marks)
a) Brand Equity
Answer:Brand equity is a
phrase used in the marketing industry which describes the value of having a
well-known brand name, based on the idea that the owner of a well-known brand
name can generate more money from products with that brand name than from
products with a less well known name, as consumers believe that a product with
a well-known name is better than products with less well-known names.
Brand equity refers to the value of a brand. In the research literature,
brand equity has been studied from two different perspectives: cognitive
psychology and information economics. According to cognitive psychology, brand
equity lies in consumer’s awareness of brand features and associations, which
drive attribute perceptions. According to
h) Global Marketing
Answer:Global marketing is
“marketing on a worldwide scale reconciling or taking commercial advantage of
global operational differences, similarities and opportunities in order to meet
global objectives".Global marketing is a firm's ability to market to
almost all countries on the planet. With extensive reach, the need for a firm's
product or services is established. The global firm retains the capability,
reach, knowledge, staff, skills, insights, and expertise to deliver value to
customers worldwide. The firm understands the requirement to service customers
locally with global standard solutions or products, and localizes that product
as required to maintain an optimal balance of cost, efficiency, customization
and
c) Direct Marketing
Answer:
d) Pricing decisions
Answer:
Dear
students get fully solved assignments
Send
your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com
”
or
Call
us at : 08263069601
(Prefer
mailing. Call in emergency )
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