BBA204 – MARKETING MANAGEMENT

 

 

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ASSIGNMENT

 

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

Q.1 Define Marketing and classify on the basis of geographical coverage.

 

Ans : Meaning of marketing :

 

Marketing may be defined as a set of human activities directed at facilitating and consummating exchanges. The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P’s of marketing:

(1) identification, selection and development of a product,

(2) determination of its price,

(3) selection of a distribution channel to reach the customer’s place, and

(4) development and implementation of a promotional strategy.

 

Classification on the basis of geographical coverage:

 

 

 

Q. 2 Write short notes on the following:

a.) Exchange Concept

b.) Production Concept

c.) Selling Concept

d.) Marketing Concept

e.) Societal Marketing Concept

 

Ans: a.) Exchange Concept :

 

Exchange is the act of obtaining a desired product by offering something in return . Exchange takes place when 5 conditions are satisfied:

(a) Two parties should be there

(b) Each party must have something of value to the other

(c) Each party is capable of communication & delivery

(d) Each party is free to accept or reject the offer

(e) Each party believes that it is appropriate to deal

 

 

 

Q. 3 Explain SWOT & PEST

 

Ans : Explanation of SWOT Analysis :

 

SWOT analysis (alternatively SWOT Matrix) is a structured planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. A SWOT analysis can be carried out for a product, place, industry or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. The technique is credited to Albert Humphrey, who led a convention at the Stanford

 

 

Q. 4 What are the constituents of micro environment of the organization

 

Ans : Constituents of micro environment :

 

Micro-environment is the specific or the task environment of a business which affects its working or operations directly on a regular basis. While the changes in the macro-environment affect business in the long run, the effects of changes in the micro-environment are noticed immediately. Hence, organisations must closely analyze and monitor all the elements of the micro-environment on a regular basis. The elements of micro- environment are as follows:

 

 

 

 

Q. 5 What are the additional components in marketing mix?

 

Ans : The marketing mix thus consists of four main elements:

1. Product

2. Price

3. Place

4. Promotion.

 

 

 

Q.6 What are the internal & external factors affecting pricing decisions?

 

Ans : Internal factors :

 

Internal factors affecting pricing include the company’s marketing objectives, marketing mix strategy, costs, and organizational considerations.

               

1. Marketing Objectives:

 

 

 

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