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ASSIGNMENT
Course Code : MS-63
Course Title : Product
Management
Note : Attempt all the questions and submit this assignment on or
before 30th April, 2013 to the coordinator of your study center.
Q1. Explain the various components of product mix taking the
example of any FMCG company.
Ans. PRODUCT MIX
The
product mix of a company, which is generally defined as the total composite of
products offered by a particular organization, consists of both product lines
and individual products. A product line
is a group of products within the product
Q2. With the help of examples, explain how might a company’s
pricing and distribution strategies vary depending on different stages of
product life cycle.
Ans. The market mix changes because:
-organizational
Q3. Explain the concept of Brand Equity. How would you assess the
Brand Equity for a carbonated soft drink brand?
Ans. Brand equity is a term used to describe the
benefits a company receives from marketing products under a name that consumers
know and trust versus marketing those same products under a generic or unknown
name. In order to
Q4. Your company has been dealing in LCD TVs for the last seven
years. Now the company is going to introduce a new range of 3D Plasma TVs. How
would you go about planning marketing mix for this new product launch?
Ans. Marketing plan provides details on how a
company plans to achieve its marketing objectives. Marketing plans are used to
promote an entire brand or product line and individual products or services. A
good marketing plan is vital
Q5. ‘Packaging helps in product differentiation’. Elaborate the
statement with the help of suitable examples.
Ans. In economics and marketing, product
differentiation (also known simply as "differentiation") is the
process of distinguishing a product or offering from others, to make it more
attractive to a particular target market. This involves differentiating it from
competitors' products as well as a firm's own product offerings. The concept
was proposed
Q6. You are going to launch a range of breakfast cereals with low
calories and high nutrition value for health conscious urban women.
(a) What brand name would you suggest for this product? Give
reasons in support of your answer.
(b) Suggest a suitable positioning strategy for this product.
Ans. (a) The breakfast cereal market is a very
dynamic one with a variety of products being available and which aim to target
different market segment. This is why the purpose of this report is to explain
how marketers segment the breakfast cereals using a combination of demographic,
geographic, psychographic and behavioural
(b). More people are looking for a quick meal they
can eat on the way to work or school, hence the success and growth of toaster
pastries, bagels, yogurt and fruit as breakfast foods. Strategy may include:
1. Raising
the Bar :
Q7. Discuss the importance of screening of new product ideas. What
factors would you consider while screening ideas for an electrical product like
Microwave Oven.
Ans. In business and engineering, new product
development (NPD) is the complete process of bringing a new product to market.
A product is a set of benefits offered for exchange and can be tangible (that
is, something physical you
Q8. What do you mean by convenience product and specialty product?
How does the buying behavior for two differ? Explain its implications for
marketers.
Ans. In marketing, products are separated into
three major categories: convenience, shopping and specialty products.
Convenience goods are inexpensive items that are frequently purchased, such as
milk and eggs. Shopping goods are higher-priced items that consumers typically
comparison shop for, such as refrigerators and washing
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