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Xaviers Institute of Business Management Studies
Subject Title: Brand Management
Maximum Marks: 80
Instructions:
1. Attempt any 5 questions. All questions are for 16 Marks.
2. Make suitable assumptions wherever necessary.
Q.1 (a) Explain the eight different questions that a product manager needs to
answer to analyse current and potential customers. Explain each question with the help of a product category.
Answer: Here are some key questions you need to answer in order to make the right decision:
1. What is the current size of the market? What is the potential size of the market? Will it
grow or contract? Why?
2. How much of the market share can we conservatively take? What’s that worth to our
organization, both financially and otherwise?
3. How well does our product fit into
Question. 1 . (b) Differentiate between potential and forecast.
What are the objectives behind estimation of (i) market potential and (ii) sales forecasting?
Explain any two methods of estimating (i) market potential and (ii) sales forecasting.
Answer: Different companies call the process of forecasting the need for future goods or services different things. Some refer to the process as sales forecasting, while others call it demand forecasting or product forecasting. No matter what terms are used, market demand, market potential and sales forecasting are inextricably
Q.2 (a) Define competitor. Explain the four bases of competition and four levels
of competition. Supplement your answer with example(s).
Answer : Any person or entity which is a rival against another. In business, a company in the same industry or a similar industry which offers a similar product or service. The presence of one or more competitors can reduce the prices of goods and services as the companies attempt to gain a larger market share. Competition also requires
(b) Explain the three major factors in assessing the underlying attractiveness of a product category.
Answer: Compelling Reason to Buy
If no one wants to buy it, it isn’t worth anything…So the first thing you need to learn about a market opportunity is whether someone will really want what you have to offer. If the compelling reason to buy is low – it’s simply a ‘No-Go’, because demand will not fly.
To evaluate this key factor, you need to look deeply into three important questions:
Is there a real unmet need?
Can you provide an effective solution for
Q.3 What are the benefits of a successful marketing strategy? Which are the seven parts of a marketing strategy of a product? Explain the first five parts of this strategy with an example, in detail.
Answer: A marketing strategy refers to the methods you implement to promote your products and services to your target audience. It can include website content, television and radio advertising, and content launched on social media platforms. Developing an effective marketing strategy for your business is the key to growth, expansion, and long-term success. The challenge, however, is that developing the right marketing strategy can
Q.4 (a) What do brands mean to you? What roles does a brand play for a manufacturer and a consumer? With examples, explain the different challenges a brand manager faces today.
(b) Choose a brand having its origin in India. Explain how it can be assessed
on the basis of Customer Based Brand Equity (CBBE) model.
Q.5 (a) Pick a product or service category basically dominated by two main brands. Evaluate the positioning of each brand. Who are their target markets? What are the main points of parity and points of difference?
Answer:
Product category: Smartphone operating systems
2 Main Brands: Apple iOS5 and Google Android
1. Who are the target markets?
- iOS5: 20-something to middle aged, students, urban lifestyle, working
professionals, hip and arty, those who “Think Different”, higher levels of
disposable income (mid to upper income bracket), high brand loyalty
- Android: late teens to pre-middle aged (~late thirties), more scientific than arty,
value “open” systems (i.e. you
(b) Select a brand and identify all its brand elements that contribute towards development of its brand equity. Explain the role of each element towards development of brand equity of that brand.
Answer: Brand equity is the result of a process which leads to a creation of a unique and distinct brand identity. These brand identifiers are referred to as brand identifiers. Brand identification can be done through various ways; for example, Unique Selling Proposition (USP), Logo, Style, Brand Ambassador, Etc. Brand elements facilitate the process of consumer brain mapping and play a
Q.6 (a) If you had to launch a fast food restaurant in your city or town, what kind
of marketing programmes will you design to build strong brand equity of
the fast food restaurant?
(b) Choose a brand and identify all its marketing communication materials.
How effectively has the brand mixed and matched the marketing
communication material?
Q.7 (a) Define brand equity management system. Explain the three steps of
implementing brand equity management system.
(b) Enlist the quantitative and qualitative research techniques to identify
potential sources of brand equity. Explain any one in detail.
Q.8 (a) Define brand product matrix. Select a firm having multiple brands and
product categories and then identify its brand product matrix. Explain
breadth of a branding strategy?
(b) Define brand extension. Explain the steps to be undertaken for
successfully introducing brand extensions.
Q.9 (a) Give reasons for companies to market their brands globally. Explain the
disadvantages of global marketing programmes.
Answer : What is Global Marketing?
Global marketing is basically the beginning, middle, and end of how a business organizes, creates, positions, and advertises its products and services on a global scale. Giant corporations have always had their hands in global marketing through having operations, representatives, and employees in other countries.
Through social media platforms, websites, and other online tools, small businesses can also participate in the process of global marketing.
Question.9. (b) With examples, explain how global brands implement the strategies of localization and standardisation.
Answer: Standardization:
Standardization is a marketing strategy aimed to create uniformity in order for offerings to be viewed the same across all platforms. Standardization refers to companies using the same or similar marketing materials regardless of cultural or linguistic diversities amongst the audience being targeted. This form of marketing develops a cohesive appeal allowing consumers to develop a trust in the brand and products. Buyers are fully aware of what they are purchasing regardless of the language they speak or where the product is being purchased. Standardization has it’s advantages, however the rapid growth in diversity
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