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DRIVE
Winter 2016
PROGRAM
BACHELOR OF BUSINESS ADMINISTRATION
(BBA)
SEMESTER
II
SUBJECT CODE & NAME
BBA204 – MARKETING MANAGEMENT
1.
Define Market and classify Market on the basis of Economy. What are the
differences between Marketing and selling?
a.
Definition of Market
b.
Classify market based on economy
c.
Differences between Marketing and Selling
Answer: a) The word
‘Market’ is derived from the Latin word ‘Marcatus’ meaning merchandise, wares,
traffic, trade or place where business is conducted. The common usage of market
means a place where goods are bought and sold. In its strict meaning, market
need not necessarily mean a place of exchange. Historically, markets were
physical meeting places where buyers and sellers gathered together to trade.
Although physical markets are still vital, virtual marketplaces
2.
Describe the methods of environmental analysis-SWOT, PEST.
Strength,
Weakness, Opportunity, Threat
Political,
Economic, Social, Technological Environment
Answer: 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
venture. It involves specifying the objective of the business venture or
project and identifying the internal and external factors that are
3.
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 types of brands and importance of brand and branding and
its merits.
Types of brands
Importance of
brands and branding
Merits of
branding Importance of brands and branding
Answer: Types
of Brands
a) Individual
brand names – In this type, each product of the company has a unique or
individual brand name. Here, there is no relationship between the brands as
each brand is promoted differently and independently. Examples of companies
which have opted for individual brand names are:
Nestlé
-
Nescafe, Maggi, Kitkat, Milo, Cerelac, Milkmaid are all part of Nestlé &
are individual brands for different products such as coffee, noodles,
chocolate, beverage, baby food and condensed milk
4.
Write Short notes on any 5 components of Promotion Mix:
1.
Advertising,
2.
Sales promotion,
3.
Personal selling,
4.
Direct marketing,
5.
Public relations and publicity,
Answer: Advertising is
the dissemination of information about a product, or service or idea sponsored
by a person at his expense to create a demand for his product or service. Advertising
consist of all the activities in presenting to a group a non-personal ,oral or
visual, openly sponsored message regarding a product, service or idea. American
Marketing Association defines advertising as “any paid form of non-personal
presentation and promotion of ideas,
5.
Explain the need & bases of Market segmentation.
Need for market
segmentation
Bases for market
segmentation
Answer: Need for
market segmentation
Every
product or service requires market segmentation due to the following factors –
a. Identification
of target market – Market segmentation helps the marketing
manager to identify homogenous customer groups within the market. He can also
understand the segments which are
b.
6.
Explain the characteristics of services and elaborate marketing mix for
services.
Characteristics
of services
Marketing mix
for services
Answer: Characteristics
of services
a) Perishability
–
Services are perishable or short term in nature. They cannot be transported or
stored for a long time, like other goods. The service comes into existence only
when the customer demands for th same. Both the customer and the service
provider have to be physically present at the
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