Docsity
Log inSign up
Docsity
Prepare for your exams
Prepare for your exams

Study with the several resources on Docsity

Earn points to download
Earn points to download

Earn points by helping other students or get them with a premium plan

Guidelines and tips
Guidelines and tips
Sell on Docsity
Sell on Docsity
Log inSign up

Prepare for your exams

Study with the several resources on Docsity

Find documents

Prepare for your exams with the study notes shared by other students like you on Docsity

Search Store documents

The best documents sold by students who completed their studies

Search through all study resources
Docsity AINEW

Summarize your documents, ask them questions, convert them into quizzes and concept maps

Explore questions

Clear up your doubts by reading the answers to questions asked by your fellow students

Earn points to download

Earn points by helping other students or get them with a premium plan

Share documents
download point icon20 Points

For each uploaded document

Answer questions
download point icon5 Points

For each given answer (max 1 per day)

All the ways to get free points
Get points immediately

Choose a premium plan with all the points you need

Study Opportunities

Choose your next study program

Get in touch with the best universities in the world. Search through thousands of universities and official partners

Community

Ask the community

Ask the community for help and clear up your study doubts

University Rankings

Discover the best universities in your country according to Docsity users

Free resources

Our save-the-student-ebooks!

Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors

From our blog

Exams and Study
Go to the blog

Marketing Management Questions and Answers: MBA 4 Sem, Exams of Marketing

Harrisburg University of Science & Technology (HU)Marketing

It's questions and answers for ISBM MBA

Typology: Exams

2017/2018

Uploaded on 05/17/2018

izhar-khan-1
izhar-khan-1 🇦🇫

5

(1)

4 documents

1 / 9

Toggle sidebar

This page cannot be seen from the preview

Don't miss anything!

bg1
3/4/2017 AerenFoundation
1/1
INDIANSCHOOLOFBUSINESSMANAGEMENTAND
ADMINISTRATION
ANISO9001:2008CERTIFIEDINTERNATIONALBSCHOOL
Name:Izharullah Marks:80
Course:MastersinBusinessAdministration(MBA4Sem)
Subject:MarketingManagement
Answerthefollowingquestion.
Q1. ExplainSignificanceofBranding. (10
marks)
Q2. WhatisAudiovisualMediasofAdvertising? (10
marks)
Q3. WhatisInventoryManagement? (10
marks)
Q4. ExplainmainactivitiesofITPO. (10
marks)
Q5. MKIndustriesLtd.IntendstolaunchatwoseatertinymotorcarinIndianmarket.Asamarketingmanagerwhich
stepswouldYouliketotaketolunchthisnovelproduct?Makenecessaryassumptionsandjustifyyouranswer.
(10
marks)
Q6. DefinethetermMarketingMix.Explainthesignificanceofappropriatemarketingmixinthepresentcompetitive
environment.Citeexamplestosupportyouranswer.
(10
marks)
Q7.
‘RushMushFoods(P)Ltd.’planstolaunchanewlineofmushroom,basedinstantfoodproducts.Theyalreadyhave
apopularlineof(noninstant)mushroomproducts,inthemarket.Whichstepswillyourecommendtothe
managementof‘RushMush”toenabletheirlaunchintheIndianmarket.Makenecessaryassumptionsandjustify
youranswer.
(10
marks)
Q8. Whicharethefactorsthatinfluencethepricingstrategyofanorganizationoperatinginhighlycompetitive
environment.
(10
marks)
pf3
pf4
pf5
pf8
pf9

Partial preview of the text

Download Marketing Management Questions and Answers: MBA 4 Sem and more Exams Marketing in PDF only on Docsity!

3 / 4 / 2017 Aeren Foundation 1 / 1

INDIAN SCHOOL OF BUSINESS MANAGEMENT AND

ADMINISTRATION

AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B SCHOOL

Name : Izharullah Marks : 80 Course : Masters in Business Administration (MBA 4 Sem) Subject : Marketing Management Answer the following question. Q 1. Explain Significance of Branding.

marks) Q 2. What is Audio visual Medias of Advertising?

marks) Q 3. What is Inventory Management?

marks) Q 4. Explain main activities of ITPO. (^10 marks) Q 5. MK^ Industries^ Ltd.^ Intends^ to^ launch^ a^ two^ seater^ tiny^ motor^ car^ in^ Indian^ market.^ As^ a^ marketing^ manager^ which steps would You like to take to lunch this novel product? Make necessary assumptions and justify your answer.

marks) Q 6. Define^ the^ term^ Marketing^ Mix.^ Explain^ the^ significance^ of^ appropriate^ marketing^ mix^ in^ the^ present^ competitive environment. Cite examples to support your answer.

marks) Q 7. ‘Rush Mush Foods (P) Ltd.’ plans to launch a new line of mushroom, based instant food products. They already have a popular line of (non instant) mushroom products, in the market. Which steps will you recommend to the management of ‘Rush Mush” to enable their launch in the Indian market. Make necessary assumptions and justify your answer.

marks) Q 8. Which are the factors that influence the pricing strategy of an organization operating in highly competitive environment.

marks)

Marketing Management

Question 1. Explain Significance of Branding.  (10 marks)

Ans. 1:

Branding is the marketing strategy used by firms to differentiate their

products from similar offerings. It is especially important for small

marketers who lack the promotional resources of big competitors. When a

product has a unique name, appearance and image, it is easier for shoppers to

find in a crowded marketplace. A strong brand identity can also affect

consumer behavior by building emotional connections and reinforcing

buying habits as explained below:

a) Shopping Behavior

In most consumer goods categories, buyers must choose among a large

number of products offering similar attributes and benefits. Especially for

low-involvement, low-priced items like toiletries and snack foods, few people

are motivated to spend time and effort researching and comparing

alternatives. Branding simplifies shopping for these products, enabling

buyers to quickly and efficiently pinpoint what they want. Conversely, it

reduces the likelihood of being disappointed by or wasting money on an

unfamiliar product.

b) Emotional Connections

The goal of branding strategy is to create brand equity, the value that

marketers add to their product's basic features and function. Often this value

takes the form of a brand personality and image to which consumers feel an

emotional connection.

c) Habitual Buying

In a wide range of product categories, consumers make their purchase

decisions based largely on habit. For example, when buying a staple like

American cheese or a convenience good like takeout coffee, most people simply

choose whatever they bought last time. By making products easily

identifiable, branding helps to reinforce habitual buying behavior.

Question 4. Explain main activities of ITPO.  (10 marks)

Ans. 4:

´ The main activities of ITPO are:

´ Managing the extensive trade fair complex, Pragati Maidan in the heart

´ of Delhi

´ Organizing various trade fairs and exhibitions at its exhibition

complex in Pragati Maidan and other centers in India.

´ Facilitating the use of Pragati Maidan for holding of trade fairs and

exhibitions by other fair organizers both from India and abroad.

´ Timely and efficient services to overseas buyers in vendor

identification, drawing itineraries, fixing appointments and even

accompanying them where required.

´ Establishing durable contacts between Indian suppliers and overseas

buyers.

´ Assisting Indian companies in product development and adaptation to

meet buyers' requirements.

´ Organizing Buyer-Seller Meets and other exclusive India shows with a

view to bringing buyers and sellers together.

´ Organizing India Promotions with Department Stores and Mail Order

Houses abroad.

´ Participating in overseas trade fairs and exhibitions.

´ Arranging product displays for visiting overseas buyers.

´ Organizing seminars/conferences/workshops on trade-related subjects

´ Encouraging small and medium scale units in export promotion

efforts.

´ Conducting in-house and need-based research on trade and export

promotion.

´ Enlisting the involvement and support of the State Governments in

India for promotion of India's foreign trade.

´ Trade information services through electronic accessibility at Business

Information Centre.

Question 5. MK Industries Ltd. Intends to launch a two seater tiny motor car

in Indian market. As a marketing manager which steps would You like to

take to lunch this novel product? Make necessary assumptions and justify

your answer.  (10 marks)

Answer 5:

I would carefully guide them through these seven important steps that will

help them successfully bring their two seater tiny motor car to Indian market.

1. Study your competition: Many business marketing classes teach

participants how to perform a SWOT (strengths, weaknesses, opportunities

and threats) analysis. You have to start by taking a serious look at your

competitors. Make a list of the businesses that offer products or services

similar to the one you plan to launch. Even if you think your new product or

service is entirely unique and without existing competition, it's important to

put yourself in your prospective customers' shoes and imagine what they

might buy in lieu of what you plan to offer. Once you decide whom your

competitors will be, review their marketing materials, including their ads,

brochures and websites. Evaluate how your new product or service will stand

up against what's already being offered, in what ways you'll excel, and which

companies or their offerings pose the greatest threats to your success.

2. Target the ideal customer: To successfully launch your new product or

service with minimum financial outlay, it's essential to focus exclusively on

the prospects you believe are most likely to purchase from you. These may be

customers who are currently buying something similar and will appreciate

the additional features your new product or service provides. Your best

prospects have a perceived need for what you offer, can afford to buy it and

have demonstrated a willingness to do so--probably by purchasing from your

competition. Bear in mind, it's always easier to fill a need than to create one.

3. Create a unique value proposition: At this stage, you should have a clear

understanding of what you must offer in order to stand apart from your

no matter what publicity route you choose, first make sure your product or

service is completely ready and available for purchase in order to maximize

returns from the coverage you receive. And your other marketing efforts

should follow closely on the heels of your press roll out. Monitor the results

from all media, and in the first weeks and months, be prepared to adjust your

campaign to take advantage of what's working best.

7. Know your product's lifecycle: The campaign you use during the

introduction and education phase of your product or service launch will need

to be updated as your product or service matures. If you're monitoring your

marketing results carefully, you'll begin to see diminishing returns that will

indicate when it's time to revise the product or service itself, alter your media

message, or even phase out this particular offering and lay the groundwork

for the launch of your next great idea.

Question 6. Define the term Marketing Mix. Explain the significance of

appropriate marketing mix in the present competitive environment. Cite

examples to support your answer.  (10 marks)

Answer 6:

The marketing mix refers to the set of actions, or tactics, that a company uses

to promote its brand or product in the market. The 4Ps make up a typical

marketing mix - Price, Product, Promotion and Place. However, nowadays, the

marketing mix increasingly includes several other Ps like Packaging,

Positioning, People and even Politics as vital mix elements.

All the elements of the marketing mix influence each other. They make up the

business plan for a company and handled right, can give it great success.

But handled wrong and the business could take years to recover. The

marketing mix needs a lot of understanding, market research and

consultation with several people, from users to trade to manufacturing and

several others.

When marketing their products firms need to create a successful mix of:

´ The right product

´ Sold at the right price

´ In the right place

´ Using the most suitable promotion.

To create the right marketing mix, businesses have to meet the following

conditions:

´ The product has to have the right features - for example, it must look good

and work well.

´ The price must be right. Consumer will need to buy in large numbers to

produce a healthy profit.

´ The goods must be in the right place at the right time. Making sure that

the goods arrive when and where they are wanted is an important

operation.

´ The target group needs to be made aware of the existence and availability

of the product through promotion. Successful promotion helps a firm to

spread costs over a larger output.

For example, a company like Kellogg's is constantly developing new

breakfast cereals - the product element is the new product itself, getting the

price right involves examining customer perceptions and rival products as

well as costs of manufacture, promotion involves engaging in a range of

promotional activities e.g. competitions, product tasting etc., and place

involves using the best possible channels of distribution such as leading

supermarket chains.

Question 7. ‘Rush Mush Foods (P) Ltd.’ plans to launch a new line of

mushroom, based instant food products. They already have a popular line

of (non instant) mushroom products, in the market. Which steps will you

recommend to the  management of ‘Rush Mush” to enable their launch in the

Indian market. Make necessary assumptions and justify your answer.

(10 marks)

Ans. 7:

The management of Rush Mush Foods (P) Ltd. should consider the following

steps to successfully launch its new product;

´ Multi-brand Strategy