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DRIVE-SPRING 2014
PROGRAM-Bachelor of
Business Administration- BBA
SEMESTER-2
SUBJECT CODE &
NAME-BBA 204- Marketing Management
BK ID-B1521
CREDIT & MARKS-4
Credits, 60 marks
Q1. The brand is
the symbol of the product’s personality. It is developed though diligent market
research and is based on the customer’s needs and wants. Explain the various
steps which are undertaken in the formation of a brand with examples.
(Definition of
brand, Steps involved in brand development, Examples)2, 2, 4
Answer.
Brand
Any brand is a set of perceptions
and images that represent a company, product or service. Brand Name is a brand
or part of a brand consisting of a word, letter, and group of words or letters
comprising a name which is intended to identify the goods or services of a
seller or a group of sellers and to differentiate them from those of
competitors. The aim of branding is to convey brand message
vividly, create customer loyalty, persuade the buyer for the product, and
Q2. Describe the
methods of environmental analysis-SWOT, PEST.
(Strength,
Weakness, Opportunity, Threat, Political, Economic, Social, Technological Environment)
5, 5
Answer.
Methods of
environmental analysis-SWOT, PEST
Environmental analysis is the
assessment of environmental factors which affect marketing activities.
SWOT is an abbreviation for
Strengths, Weaknesses, Opportunities and Threats. SWOT analysis is a strategic
planning method used to evaluate the Strengths, Weaknesses, Opportunities, and
Threats involved in a project or in a business
Q3. Define
Marketing Planning. Explain about the two different Competitive marketing
strategies.
(Definition of
Market Planning, Price based marketing strategies, Differentiation based
marketing strategies) 2, 2, 4
Answer.
Market Planning
An organization or business needs
to plan its marketing strategy in order to launch its products in any market.
Such marketing planning involves the usage of the market information in order
to assess the market conditions.
Price based
marketing strategies
Companies which use price based
strategies, have price as their competitive advantage i.e. they sell at lower
prices but still make profits. If a company wants to use price as the leverage,
then such a company should also have cost leadership, i.e., the company should
have a cost advantage over competition. The cost advantage can arise from a number
of factors such as economies of scale, volume or location. The price can be
kept at a lower range only if the company is able to have cost advantage in the
longer period. Once the cost advantages are removed, it may not be
Q4. Define Product
mix. Explain the factors determine the decisions of the Product mix.
(Definition of
Product mix, Factors determine the decisions of the product mix) 2, 8
Answer.
Product mix
A product mix (also called
product assortment) is the set of all product lines and items that a particular
seller offers for sale to buyers." An organization with several product
lines has a product mix. Product mix need not consist of related products. In
other words, product mix is "the composite of products offered for sale by
a firm." It is a collection of products manufactured or distributed by a
firm. For instance, a firm manufactures watches, machinery items, electric lamp
etc. Product mix has four main characteristics or dimensions and they are (1)
Length (2) Width (3) Depth (4)
Q5. Define Service
Marketing. Explain the strategies for Services Marketing.
(Definition of
Service Marketing, Strategies for service marketing)2, 8
Answer.
Service
Marketing
Service marketing refers to the
concept of creation and delivery of value
for the satisfaction of the
customer, which provides a profit to the seller
or
service provider.
Strategies for
service marketing
The important strategies that
help in marketing of services are:-
a)
Deepening
of customer relationship –
In the fast pace of modern life, customers look for one-stop-shop solutions for
most of their purchasing needs. This helps them to save time and costs and
provides consolidation of services. Also,
b)
Q6 Define Green
Marketing. What are the reasons for which companies adopt green marketing?
(Definition of
Green marketing, Reasons for which companies adopt green marketing) 2, 8
Answer .
Green marketing
Green marketing is a type of
marketing in which the products and services of an organisation are sold to its
customers, based on their environmental benefits. The product or service is
promoted so that it is eco-friendly or that it is packaged in eco-friendly
manner using recyclable material. According to the American Marketing
Association, “Green marketing is the marketing of products that are
presumed to be environmentally safe”. It is also called as Environmental
or Ecological marketing.
Reasons for
which companies adopt green marketing
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