MS-06 Marketing for Managers

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ASSIGNMENT

Course Code : MS-06

Course Title : Marketing for Managers

1. (a) “Marketing in the performance of business activities that directs the flow of goods and services from the produces to consumers”. Discuss the above statement by taking two suitable examples of your choice.”

Answer : Marketing is the performance of business activities that direct the flow of goods and services from producer to consumer or user."

The above definitions are based on the economic approach of marketing. Marketing embraces all the business activities involved in getting goods and services , from the hands of producers into the hands of final consumers. The business steps through which goods progress on their way to final consumers is the concern of marketing.

(b).   Discuss the concept of service and report on the reasons for the growth of the service sector.

Answer : In recent times the service sector is increasing at a very fast pace. After the liberalization in the year 1991, the contribution of service sector is continuously increasing in the growth of our economy. However, agriculture is still dominating the Indian economy. Service sector are growing not only in volume but also in sophistication and complexity. The growth of service industry is the result of combination of several reasons, they are,

REASONS FOR THE GROWTH OF SERVICES IN INDIA:

1. Economic affluence: One, of the key factors for the growth of demand for services is the economic affluence. According to the NCAER study the size of the middle income consumer is raising fast and the percentage of the very poor household’s declining. The rural households in the upper income category is growing at a much faster pace than

   

2. (a). What are the various elements of marketing mix? Explain each of there elements and their importance in the marketing planning process of a consumer durable company manufacturing room air conditioner. 

Answer :  Marketing Mix - A mixture of several ideas and plans followed by a marketing representative to promote a particular product or brand is called marketing mix. Several concepts and ideas combined together to formulate final strategies helpful in making a brand popular amongst the masses form marketing mix.

Elements of Marketing Mix

The elements of marketing mix are often called the four P’s of marketing.

Product

(b). Discuss the procedure of conducting marketing research in the Indian Context.

Answer : Data validation and quality assurance is one of the most critical aspects for any Market Research study conducted in India.  It is the process of determining to the extent possible, whether a survey’s interviews or observations were conducted correctly and are free of fraud or bias. Most Indian marketing research professionals will target between 10 and 30 percent of completed interviews for “callbacks”.

 Specifically for telephone, mail and personal interviews, a certain percentage of respondents from the completed interviews will be contacted

3. (a). Who is a consumer? Define consumer behavior and discuss why a knowledge of    consumer behavior in essential for Marketers.

Answer : A ‘consumer’ is defined as a person who buys goods or avails services against payment.

Goods may include consumable goods (like wheat flour, salt, sugar, fruits, etc.) or durable consumer goods (like television, refrigerator, toaster, mixer, bicycle, etc.). Services that are paid for may includeelectricity,telephone,transport,theatre/cinema,postal/courier,etc.

It is interesting to know that a beneficiary

(b). Discuss Product Life Cycle concept and elaborate on the importance of PLC as a tool.

Answer : First referenced in the 1920s, the product life cycle applies biological knowledge to products. In nature, a seed is planted, begins to sprout, becomes an adult then eventually withers away and dies. The product life cycle focuses on introduction (seed), growth (sprout), maturity (tree) and decline (death) phases. Each phase has its own marketing mix strategy and implications regarding product, price, distribution and promotion.

Life Cycle Length and Incubation Period Sometimes, the life cycle concept applies

4.(a). What do you understand by the term Marketing Communication and its role in   the promotion of a firms product or service. Discuss with two suitable examples one choosing from FMCG & other from a service offering.

Answer : Chris Fill is Principal Lecturer in Marketing and Strategic Management at the University of Portsmouth. He is also the Senior Examiner for the Marketing Communications module offered by the Chartered Institute of Marketing on the Professional Diploma Programme, in addition to being a Fellow of the CIM. He is the author of Marketing Communications: engagement, strategies and practice, currently in its fourth edition, and is the co-

(b). Discuss the importance and relevance of sales and distribution function in a manufacturing and marketing organization of your choice.

Answer : Marketing may be narrowly defined as a process by which goods and services are  exchanged and the values determined in terms of money prices. That means marketing   includes all those activities carried on to transfer the goods from the manufacturers or  producers to the consumers.

In today's very competitive marketplace a strategy that insures a consistent approach to offering your product or service in a way that will outsell the competition is critical. However, in concert with defining the marketing strategy you must also have a well defined methodology for the day to day process of implementing it. It is of little value to have a strategy if you lack either the resources or the expertise to implement it.

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