MB0046 – Marketing Management

 

 

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Summer 2013

 

Master of Business Administration – MBA Semester 2

 

MB0046 – Marketing Management

 

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.

 

Q1. Describe the stages in consumer decision making process.

[Stages of decision making (each stage carry 2 marks)-10 marks] 10 marks

 

Answer :  Stages in consumer decision making :

 

A consumer goes through several stages before purchasing a product or service.

 

Step 1 – Need :

 

Need is the most important factor which leads to buying of products and services. Need in fact is the catalyst which triggers the buying decision of individuals. An individual who buys cold drink or a bottle of mineral water identifies his/her need as thirst. However in such cases steps such as information search and evaluation of alternatives are generally missing.

 

Q2. Define Product line and its strategies.

[Definition- 2 marks; Product line strategies(any five strategies)- 8 marks] 10 marks

 

Answer : Product line :

 

In marketing jargon, product lining is offering several related products for sale individually. Unlike product bundling, where several products are combined into one group, which is then offered for sale as a unit, product lining involves offering the products for sale separately. A line can comprise related products of various sizes, types, colors, qualities, or prices. Line depth refers to the number of subcategories a category has. Line consistency refers to how closely related the products that make up the line are.

 

 

Q3. Write a short notes on :

A. Steps for positioning a product ( steps for positioning- 6 marks)

B. Types of target marketing strategies (Types of Target strategies- 4 marks) 6+4 = 10 marks

 

Answer : A. Steps for positioning a product:

 

Marketers with the positioning process try to create a unique identity of a product amongst the customers.

 

1. Know your target audience well:

 

It is essential for the marketers to first identify the target audience and then understand their needs and preferences. Every individual has varied interests, needs and preferences. No two individuals can think on the same lines.

 

Q4. Write a short notes on :

A. Components of Brand Equity (Components- 4 marks)

B. Types of Branding strategies with examples (Types- 3 marks; examples – 3 marks) 4+3+3= 10 marks

 

Answer : A. Components of Brand Equity:

 

1. Brand Loyalty:

 

Is consumers commitment to repurchase the brand and can be demonstrated by repeated buying of a product or service or other positive behaviors such as word of mouth advocacy. True brand loyalty implies that the consumer is willing, occasionally at least, to put aside their own desires in the interest of the brand. This will help organization to reduce the promotion cost. For example, many girls in India use only Ponds products, though competitors‟ products like Fa, Spinz, Cuticura, and Mysore Sandal are present in the market and vice versa.

 

Q5. Explain the steps in Business Buying process.

(explanations of Steps – 10 marks) 10 marks

 

Answer : Steps in business buying process :

 

1. Problem recognition:

 

Problem can be identified from either internal stimuli or external stimuli. Company would like to launch new product hence it searches for the suppliers who can supply the material and equipments required for the new product. A large printing company may find that it can set up an exclusive design section as a profit center. For this it may want high end design software and systems.

 

Q6. Explain the International Promotions Policy.

[Explanation of promotion policy(each carry two marks)-10 marks] 10 marks

 

Answer :  International Promotions Policy:

 

Promotion policy is another key factor in the Global market. Besides deciding global or local promotions, the type of promotion that we should carry out will be related to the distribution systems available in of foreign markets. With a direct export, the exporter will have to bear all the costs of the promotion, however with an Indirect export, the intermediary can share in this cost and participate in the design of it. 

 

 

 

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