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PRINCIPLES OF MANAGEMENT
ASSIGNMENT ANSWERS 2020
2HS341 Principles of Management Assessment Details:
Topic: Management
Pages/Words: 2 Page/500 Words
Deadline: As Per Required
SECTION-A
Question.1
You plan to start a chain of coffee shops in your city which serves freshly prepared snacks along with various kinds of coffee. Discuss how various functions of Management (Planning, Organizing, Staffing, Leading and Controlling) will be applicable for running a Coffee Shop.
(Marks 20)
SECTION-B
Question. 2
Read The following case and assess the several concepts and characteristics from the field of Management that the case illustrates. Justify using instances from the case.
De Beers, the diamond mining giant, spent heavily on promoting diamonds to customers through their advertising campaigns. Most of these campaigns were for the bridal category such as diamonds for engagement, wedding and anniversaries, and were targeted at men who usually bought diamond rings and other jewellery for their beloved.
Realising that the non-bridal category of diamond jewellery also had immense potential, the Diamond Trading Corporation (DTC), the marketing arm of De Beers, launched an advertising campaign in May 2003, to promote the concept of the ”right hand ring” targeted at independent and influential women who wanted to buy or receive the diamond rings for non-traditional reasons. The campaign also emphasized the fact that a woman does not need to depend on a man to buy her jewellery but can also buy on her own.
The campaign was backed by extensive print, television, on-line and other forms of promotions. A lot of celebrity endorsements were also used. Photographs of fashionable models were shown wearing a gleaming diamond ring on the fourth finger of the right hand. One advertisement read, “Your left hand says ‘we’; your right hand says ‘me’. Your left hand rocks the cradle, your right hand rules the world. Women of the world, raise your right hands”.
The campaign helped in bolstering the non-bridal category of diamond jewellery, and was acclaimed at various international jewellery and fashion platforms. A marketing professor at Northwestern University said that De Beers was an expert at converting consumer’s wants into needs. “I want a diamond engagement ring. No, I need a diamond engagement ring. Yes, I would like another diamond ring. Now I need a right hand ring”, she commented. A spokesperson for ‘A Diamond is Forever’ commented by saying that ‘The industry has finally discovered that we have two hands”.
DTC reported that in 2004, the diamond right hand drove the sales of non-bridal fashion diamond rings up by 15% from $3.8 billion the previous year.
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