1. A. Stages of product life cycle.

Ans:
The product life cycle is an important concept in marketing. It describes the stages a product goes through from when it was first thought of until it finally is removed from the market. Not all products reach this final stage. Some continue to grow and others rise and fall. The main stages of the product life cycle are:

Introduction researching, developing and then launching the product Growth when sales are increasing at their fastest rate Maturity sales are near their highest, but the rate of growth is slowing down, e.g. new competitors in market or saturation Decline final stage of the cycle, when sales begin to fall

This can be illustrated by looking at the sales during the time period of the product.

A branded good can enjoy continuous growth, such as Microsoft, because the product is being constantly improved and advertised, and maintains a strong brand loyalty.

B. Variables that effect positioning of a product in the market.

Ans:
Various factors affecting effect positioning of a product in the market The environmental factors that are affecting marketing function can be classified into : 1) Internal environment and 2) External environment Internal Environment of Marketing: This refers to factors existing within a marketing firm. They are also called as controllable factors, because the company has control over these factors : a) it can alter or modify factors as its personnel, physical facilities, organization and function means, such as marketing mix, to suit the environment. There are many internal factors that influence the marketing function, they are : Top Management Finance and Accounting Research and Development Manufacturing Purchasing Company Image and Brand Equity External Environment of Marketing. The external marketing environment consists of : a) Macro environment, and b) Micro environment a) Micro environment: The environmental factors that are in its proximity. The factors influence the companys non-capacity to produce and serve the market.The factors are : 1) Suppliers: 2) Market Intermediaries : 3) Customers : 1) Ultimate customers:. 2) Industrial customers: 3) Resellers: 4) Government and other non-profit customers: 5) International customers: 6 )Competitors: 7) Public. Macro Environment: a) Demographic Forces: b)Economic Factors: c) Physical Forces d) Technological Factors: e) Political and Legal Forces:

C. Factors influencing consumer behavior. Ans:

Definition of Buying Behaviour: Buying Behaviour is the decision processes and acts of people involved in buying and using products. Need to understand: Why consumers make the purchases that they make? What factors influence consumer purchases? The changing factors in our society.

Consumer Buying Behaviour refers to the buying behaviour of the ultimate consumer.

2. A. Steps in new product Development Process. Ans;

Developing and ultimately launching a product can often make or break a business, especially a startup business. Some businesses develop only one product, while others develop many. Product development steps vary based on the nature of the business and the management style, but most businesses follow seven main steps in the development process.

The company must continuously monitor the performance of the new product. They must make necessary changes in their marketing plans and strategies else the product will fail.

B. Steps in selecting a brand name. Ans: The right name combines the strengths and significance of your company, product or service into a single word or phrase. So how do you create a name that is both intelligent and memorable, and sets you apart from the rest? 1. Is it informative? A name should help identify the companys industry, or the application of its product or service. It should also suggest size. A company with a national presence should not have a boutique sounding name, but rather a name which says we own the turf.

2. Is it memorable? If a product or company has a memorable name, it will be easier for prospects and customers to request it or recall it. A memorable company or product name also facilitates sales through word of mouth, and is more easily found on the web. 3. Does it spark curiosity? Sparking human curiosity is the best way to grab and hold a prospects attention. Whenever appropriate, use elements of wit, mystery or humor to engage your audience. 4. Is it clearly differentiated from other product and company names? In markets flooded with new products or several similar sounding company names (such as high-tech or financial services), its critical to stand apart from the competition with a name that is distinctive to your brand identity. 5. Is it easy to pronounce and spell? If a name is easy to pronounce and spell, it helps the product or company project a customer-friendly image. This can be especially important in consumer and technology-related businesses, and can be key to findability online. 6. Does it work internationally? Many American brand names have failed in the international marketplace because they meant something absurd (Nova in Spanish-speaking countries) or offensive (Supra in Arabic countries) in other cultures. Check the meanings of name candidates in different languages. 7. Can it be protected? A name that is purely descriptive or generic in nature (such as The Moneysaver) is difficult to trademark and protect. 8. Will it be appropriate in five years? Ten? Twenty? Names tied to trends or that age quickly (remember New Coke?) are quickly outdated. Seek a name for your brands identity that has a timeless quality. 9. How well can the name and visual brand work together as a unit? A great name is enhanced by a strong visual brand identity that supports its personality, its history, or the name itself. (Think Apple, Wells Fargo and Google). 10. Do you like it? One of the most important tests a name must pass is the visceral one. It should appeal to your gut as well as your mind

C. Sources of marketing information. Ans: Sources of Marketing Information A variety of sources can be used to obtain the information necessary to fuel a marketing information system. These information sources can be grouped into two main categories: secondary data and primary data. Secondary data were previously collected for another purpose. Primary data are generated for a

specific purpose when the information is not available elsewhere. It is normally advisable to search for secondary data before engaging in a primary data collection process. The secondary data may provide the information necessary to make a decision, and even if they dont, they may be useful in developing the collection process for primary data. Figure marketing decisions illustrates the possible sources of information for

3. A. 7 Ps of Service Mix. Ans:

The service marketing mix is also known as an extended marketing mix and is an integral part of a service blueprint design. The service marketing mix consists of 7 Ps as compared to the 4 Ps of a product marketing mix. Simply said, the service marketing mix assumes the service as a product itself. However it adds 3 more Ps which are required for optimum service delivery.

The product marketing mix consists of the 4 Ps which are Product, Pricing, Promotions and Placement. These are discussed in my article on product marketing mix the 4 Ps. The extended service marketing mix places 3 further Ps which include Peopl e, Process and Physical evidence. All of these factors are necessary for optimum service delivery
B. Components of integrated Marketing communication. Ans:
Integrated marketing communication refers to integrating all the methods of brand promotion to promote a particular product or service among target customers. In integrated marketing communication, all aspects of marketing communication work together for increased sales and maximum cost effectiveness. Let us go through various components of Integrated Marketing Communication: 1. The Foundation - As the name suggests, foundation stage involves detailed analysis of both the product as well as target market. It is essential for marketers to understand the brand, its offerings and end-users. You need to know the needs, attitudes and expectations of the target customers. Keep a close watch on competitors activities. 2. The Corporate Culture - The features of products and services ought to be in line with the work culture of the organization. Every organization has a vision and its important for the marketers to keep in mind the same before designing products and services. Let us understand it with the help of an example. Organization As vision is to promote green and clean world. Naturally its products need to be eco friendly and biodegradable, in lines with the vision of the organization. 3. Brand Focus - Brand Focus represents the corporate identity of the brand. 4. Consumer Experience - Marketers need to focus on consumer experience which refers to what the customers feel about the product. A consumer is likely to pick up a product which has good packaging and looks attractive. Products need to meet and exceed customer expectations. 5. Communication Tools - Communication tools include various modes of promoting a particular brand such as advertising, direct selling, promoting through social media such as facebook, twitter, orkut and so on. 6. Promotional Tools - Brands are promoted through various promotional tools such as trade promotions, personal selling and so on. Organizations need to strengthen their relationship with customers and external clients. 7. Integration Tools - Organizations need to keep a regular track on customer feedbacks and reviews. You need to have specific software like customer relationship management (CRM) which helps in measuring the effectiveness of various integrated marketing communications tools.

(c) Elements of good advertisement copy. Ans:

An advertisement copy is the ideas and message content which are reached to the viewers. The ad copy refers to all reading matter of an advertisement including the headline, subheads, texts or body. An advertiser or a copy writer should sacrifice a lot of time in making a copy. The elements or components of ad copy are: Head line: The headline is the word in the attractive position in the advertisement .That is the words that will read first and situated to get more attraction. Usually the letters of the headline are larger than other parts. The different types of headline are label, Informative headline, provocative headline. Label is the headline which identifies the name of the

product. Informative headline gives the in formations about a product. Usually it explains the attributes of the product. Provocative headline is the headline used in making a curiosity among the viewers. It insists the viewers to read. Subheads and Body copy: This is the sub head captions that simply expand the headline thoughts. This headline takes the readers to read further. Subhead lines are known as the transitional bridge between the headline and copy text. Body copy is telling about the whole story of the product or service that a marketer wants to communicate. Body copy covers the features, benefits and utility of the product. Slogans and Illustrations: Many slogans begin as successful headlines. Repeated usage becomes a popular one in among viewers. Slogan has two purposes; one is to provide continuity another is to memorize and repeat the statement among consumers. Illustrations part consists of photos, drawings, charts etc. the main objective behind this is to gain quick attention and comprehension of the product idea. Identification and Closing idea: This is the content in which the seal, signature or logo of the firm is provided. This is to identify the sponsor or advertiser. Closing idea component emphasizes on an action. The action is the insisting the buyers to buy the product. The closing idea summarizes the messages, changes in the product, attitudes, all the information etc.

4.

A. Interactive Marketing.

Ans:
Interactive marketing is a one to one marketing process that reacts and changes based on the actions of individual customers and prospects. This ability to react to the actions of customers and prospects means that trigger based marketing is dramatically more effective than normal direct marketing. Interactive marketing is typically 2-12 times more effective than traditional direct marketing.

Where would you use interactive marketing?

When you ask people about trigger based marketing they generally think of reacting to some trigger in the customer relationship, such as asking for a loan payout figure for a bank loan. Customers asking for this information may be looking to refinance their loan. The request should trigger some action on your part to try to stop them from leaving. However, with the growth of inbound marketing and lead nurture campaigns interactive marketing is applicable to all organisations:

Business to business and Business to consumer High transaction and low transactions businesses. Pre-sale prospect management and post-sale customer management

B. Selecting an Advertising Media. Ans;

Advertising is a non-personal form of promotion that is paid for and delivered through selected media outlets to create awareness of the existence of a product or service. Advertising media selection is the process of choosing the most cost-effective media for advertising, to achieve the required coverage and number of exposures in a target audience Before any media is selected for advertising, there has to be a criteria and one of the criteria is Nature of Product. Nature of the product to be advertised has an important bearing on the medium of advertisement. Products should be classified into two broad categories, namely, consumer and industrial goods. Consumer goods can be advertised in newspapers, magazines, radio and television and through outdoor displays, But industrial goods can be advertised profitably in the specialized trade, technical and professional journals. Nature of Market. Nature and extent of market can be determined by various factors like geographical region, size of population and purchasing power of the population. The market may be either local or national. Film advertising and outdoor advertising are more suitable for local products. Newspapers are the most suitable for advertising products which can be sold throughout the country. Objectives of Advertising. The objectives of the advertising programme are very important to determine the choice of advertising media. The objectives may be introduction of new product, to increase demand of an existing product, or to avoid competition by the rivals
Along with mentioned criteria the following factors also important

Circulation of Media Financial Consideration Type of Audience Life of Advertisements Media used by Competitors.

C. Skimming Vs Penetration Pricing. Ans:

If your business is planning to launch a new product, penetration pricing and price skimming are two marketing strategies you should consider. Each strategy has benefits and disadvantages, so research your target market carefully beforehand to determine what approach will work best for your company.

Penetration Pricing
Penetration pricing occurs when a company launches a low-priced product with the goal of securing market share. For example, a sponge manufacturer might use a penetration pricing strategy to lure customers from current competitors and to discourage new competitors from entering the industry. If the sponges price is low enough, consumers will flock to the new product. Competitors who cant produce and promote sponges for such a small profit will avoid the market, freeing the sponge company to maximize brand recognition and goodwill.

Price Skimming
A price skimming strategy focuses on maximizing profits by charging a high price for early adopters of a new product, then gradually lowering the price to attract thriftier consumers. For example, a cell phone company might launch a new product with an initial high price, capitalizing on some peoples willingness to pay a premium for cutting-edge technology. When sales to that group slow or competitors emerge, the company progressively lowers its price, skimming each layer of the market until the low price wins over even frugal buyers.

5. A. Social functions of marketing. Ans;

Social marketing seeks to develop and integrate marketing concepts with other approaches to influence behaviors that benefit individuals and communities for the greater social good. It seeks to integrate research, best practice, theory, audience and partnership insight, to inform the delivery of competition sensitive and segmented social change programs that are effective, efficient, equitable and sustainable

Functions include:

Customer service, often called the new marketing, especially in a social context. Market and customer research, designed to better serve the business and customer. Collaboration: internally but also with customers and partners (social collaboration). CRM: social CRM plays an essential role in having a good customer view and improving marketing. Sales: CRM is one link between sales and marketing but sales people can also use social media tosell (social selling) and contribute to social media marketing.

B. Entry Strategies of global marketing. Ans:

Each company has a specific strategy may be selected to suit a company's needs. Many companies use a combination of global and national strategies. Some firms use a global strategy elsewhere some countries and some products are more receptive to global strategies than others. Global strategies are directed at those national product markets that are large and have low barriers to foreign products and companies. They are also likely to compromise the center of world demand, particularly in the newer, more technologically intensive product.

Companies adapting global strategies are not likely to target seriously countries with high barriers and small national product markets. However given the long term trend in declining trade barriers coupled with the economic growth, more companies will adopt global strategies.

C. Stages in Channel Designing. Ans:

Your main job as a small-business owner is to carve pathways, or channels, to your customers. While large corporations spend a lot of money designing marketing channels, you can compete with a much smaller budget if you understand the strategy that benefits your business. Take the time to think about all the effective channels available to you, such as websites, email, direct marketing and store merchandising, then begin to design you approach to reaching your customers.

Steps to Design Distribution (Marketing) Channels 1. Analysis of Customers Desired service output level 2. Establishing channel objectives 3. Identifying Major channel Alternatives 4. Evaluating major channel alternatives 5. Selecting Suitable Channel members 6. Training & Motivating Channel Members