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Xaviers Institute of Business Management Studies
SUBJECT: MARKETING MANAGEMENT
Total Marks : 80
INSTRUCTIONS
1. Answer all the Questions
2. Present your Answer with tidiness and to the point.
3. Question No 1 to 8 carry 8 marks each and question No.9 carry 16 marks.
Question. 1.At the time when the market leader for instant noodles was Nestles Maggi, the main challenger was Top Ramen’s Noodles. Applying the concepts of marketing Management, what would be your strategic plan in order to keep up the top position of Maggi.
Answer: To maintain the top position of Maggi as the market leader for instant noodles and effectively compete with Top Ramen’s Noodles, a strategic plan should be designed using the concepts of marketing management. Here are key elements of the strategic plan:
1. Product Innovation and
Question. 2.Discuss the relationship between ‘Segmentation’ and ‘Positioning’. Explain the major criteria of Segmentation and Positioning. Quote sufficient examples to strengthen your answer.
Answer: Segmentation and positioning are two fundamental concepts in marketing that are closely related and interdependent. Segmentation involves dividing the market into distinct groups of consumers based on common characteristics, needs, or preferences, while positioning is the process of creating a distinct image or perception of a product or brand in the
Question. 3.
(a)Describe in detail the stages in the Product Life Cycle.
Answer: The Product Life Cycle (PLC) is a concept used in marketing to describe the various stages that a product goes through from its introduction to its eventual decline in the market. The PLC consists of four main stages, each characterized by specific attributes and marketing strategies. These stages are:
1. Introduction Stage: The introduction stage is the first phase of the product life cycle when the product is introduced to the market. During this stage, sales are generally low as the product is new and unfamiliar to customers.
(b)In this context, explain the challenges that a Marketing Manager has to deal while introducing a new product.
Answer: Introducing a new product is a complex and challenging task for a marketing manager. The success of the new product launch depends on various factors, and marketing managers must navigate through several challenges to ensure a smooth and successful introduction. Here are some of the key challenges that a marketing manager has to deal with while introducing a new product:
1. Market Research and Analysis: Conducting thorough market research to identify customer needs, preferences, and market trends is crucial. Understanding the target audience and the competitive landscape helps in developing a product
Question. 4.What do you understand by Channel of Distribution? Explain the different kinds of Channel of Distribution in detail.
Answer: Channel of distribution refers to the path or route through which products or services move from the manufacturer to the end consumer. It involves a series of intermediaries or middlemen who facilitate the transfer of goods or services from producers to consumers. The channel of distribution plays a crucial role in ensuring the availability of products in the market and reaching the target customers efficiently.
Different Kinds of Channels of Distribution:
Question. 5.Explain the factors affecting Pricing Decision. What are the various methods of pricing a Product? Briefly explain them. Also, differentiate between Price shadowing and Price Covering.
Answer: Factors Affecting Pricing Decision:
1. Costs: The cost of production, including raw materials, labor, overheads, and distribution costs, is a significant factor that influences pricing decisions. Companies need to ensure that the selling price covers the production costs and allows for a reasonable profit margin.
2. Market Demand: Customer demand and
Question. 6.What are the essential Factors influencing Consumer behavior? Explain its significance in Marketing Management in accordance with the Technology advancements.
Answer: Consumer behavior refers to the process through which individuals or groups select, purchase, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants. Understanding consumer behavior is crucial for marketing management as it helps businesses develop effective marketing strategies and tailor their products and services to meet consumer needs and preferences. Several essential factors influence consumer behavior, and
Question. 7.Write Short Notes on any four of the following:
(a) Price Skimming.
Answer: Price skimming is a pricing strategy in which a company sets an initially high price for a new product or service and then gradually lowers it
(b) Media Selection for Advertising
Answer: Media selection for advertising involves choosing the most appropriate and effective media channels to deliver promotional messages to the target audience. This decision is based on factors such as the characteristics of the target
(c) Sales Promotion
Answer: Sales promotion refers to the use of short-term incentives and promotional activities to stimulate immediate sales or boost the demand for a product or service. Sales promotions are typically time-bound and are designed to create a
(d) Product Differentiation
Answer: Product differentiation is a marketing strategy in which a company distinguishes its products or services from those of its competitors by emphasizing unique features, attributes, or benefits. The goal of product differentiation is to create
(e) Demand Inelastic in Business Buyer Behavior
(f) Vertical Marketing System
Question. 8.A new product is to be launched by a company at Mumbai. As a part of identifying the consumer behavior, the company intends to carry out a research process. Outline a Marketing Research Process for the company in order to establish the requirements of the consumers.
Answer: The marketing research process is a systematic approach to gather and analyze relevant information about consumers, market trends, and competitors. For the company launching a new product in Mumbai, the marketing research process can
Question. 9.Case Study – Read the Case carefully and answer to the questions analytically.
Case Study on Maruthi Udyog Ltd.
Maruti Udyog L:td.MUL is the largest auto manufacturer in India. It has 70 percent share of the small car segment and 40 percent of the luxury segment. It was set up as a joint venture between the Government of India and Suzuki motors of Japan. Today the government has reduced its stake and it is a Suzuki firm. It has a vendor network of nearly 450, a third of who have ISO 9000 certification. It also has joint ventures with some of its vendors to ensure quality and timely delivery. Maruti has about 14 models to cars, vans and jeep. In the small car segment, it completes with Santro of Hyundai and Indica from the Tatas.
Maruti’s vision and mission statement are given below
Vision: To be competitive worldwide in products and services retain leadership in the country and aspire for a good market share internationally.
Mission: To sell a variety of cars- modern, high technology and fuel efficient – in the Indian and foreign markets.The firm’s values are as follows
Growth oriented organization ready to change to meet customers demand at short notice.
Value for money for the customers.
Stakeholders’ involvement and satisfaction.
Responsible corporate citizen.
Competitive Analysis of Maruti
Maruti had a good run till 1998 when several international players challenged its supremacy . In the small car segment, Santro of Hyundai, and Indica from the Tatas pose major problems for Maruti . In the luxury segment, its Esteem faces competition from Honda City, Opel Astra , Ford Escort and Ford Ikon. Its jeep Gypsy faces competition from Mahindra& Mahindra’s jeeps, and Tata’s Sumo and Safari.
Threat of new entrants is real as the segment of middle class cars is growing rapidly, Volvo, Volkswagen and Toyota are also planning to enter the market.
To beat Maruti’s brand image, economics of scale and marketing and service network , new firms have to spend a lot of money and efforts and that could be the entry barrier.
Critical success factors of Maruti:
1. Suzuki technology
2. Economic scale of production
3. Strong R&D.
4. Timely market feedback as a result of continuous research
5. Large range of models.
6. Strong dealer network
7. Large service network around the country with trained technicians.
8. Quality programmes (Kaizan)
9. Design expertise
10. Brand equity
11. Provides leasing options, hire purchase schemes.
Realising the imminence of competition in 1998 , Maruti planned to have relationship marketing , with an idea of selling Maruti cars to its existing customer base and upgrading product purchase . Maruti introduced Zen Alto and Wagon R, for this purpose.
MUL has competitive advantages in the segments it operates in to counter the onslaught of competition it even reduced the price and went for volume business .MUL has maintained its competitive advantage in the following manner.
1. Superior Suzuki compact car technology.
2. Value for money
3. Low maintenance cost.
4. Reliable quality
5. Largest network of dealers and service centres.
6. large product range for various needs and pockets.
7. Easy availability and attractive finance schemes .
8. ISO certification, even for a large number of dealers.
9. Technology transfers to important vendors for ensuring quality supplies.
Maruti is a household’s name not only in India but in a number of countries of the west as well. With a modest beginning in 1997 when it exported 102 cars, now MUL exports to more than 30,000 cars to 74 countries. The countries include Italy, Holland and Chile; around 70 percent sales are to Europe.
Maruti looks confidently to the future with the following agenda:
1. Commitment to customer satisfaction/delight.
2. Expansion and modernization of facilities.
3. New model as per market demand
4. Model upgradation .
5. Market research to remain proactive in the market.
6. Emphasis on overseas markets
7. Finance for the customers.
Questions:
Question.1. Discuss the main issues narrated in the case in your own style.
Answer: In the case of Maruti Udyog Ltd. (MUL), the main issues can be summarized as follows:
1. Market Dominance and Competition: Maruti is the largest auto manufacturer in India with a significant market share in both the small car and luxury segments. However, it faces strong competition from other players like Hyundai and Tata Motors, especially in the small car segment. The threat of new entrants from international players also poses a challenge to Maruti’s market dominance.
Question. 2.Carry out a SWOT Analysis.
Answer: SWOT Analysis of Maruti Udyog Ltd.
SWOT analysis is a strategic planning tool that helps identify a company’s internal strengths and weaknesses, as well as external opportunities and threats. Here’s a SWOT analysis for Maruti Udyog Ltd:
Strengths:
1. Market Leadership: Maruti is the largest auto manufacturer in India and holds a significant market share in both small car and luxury segments, giving it a strong competitive advantage.
2. Suzuki Technology: The company
Question.3.Based on the Analysis of the case, put forth your views and suggestions.
Answer: Based on the analysis of the case of Maruti Udyog Ltd., there are several views and suggestions that can be put forth:
1. Expanding Market Presence: Maruti should continue its focus on expanding its market presence in both the small car and luxury segments. While it has a dominant position in the small car segment, it should explore ways to increase its market share in the luxury segment by introducing new and technologically advanced models.
2. Product Innovation: To stay ahead of the competition and meet changing consumer demands, Maruti should emphasize product innovation. This
Dear students, get latest Solved assignments by professionals.
Mail us at: help.mbaassignments@gmail.com
Call us at: 08263069601