Documente Academic
Documente Profesional
Documente Cultură
Chennai - 020
FIRST SEMESTER EMBA/ MBA
Subject: Marketing Management
Enrollment No - MBA1/OCT15N/93171446117645F
Attend any 4 questions. Each question carries 25
marks
(Each answer should be of minimum 2 pages / of 300
words)
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1. Explain pricing policy.
Pricing is an essential part of any business strategy. The decision of
pricing is very important in any business. It is of great importance to
the
producer,
wholesaler,
retailer
and
the
consumer.
For
an
To Maximize Profits
Every firm tries to maximize their profits. So they should have a price
policy, which fetches them maximum revenue. Every firm should have
a price policy keeping the long run prospects in mind.
Price Stability
Always fluctuating price is not for the goodwill of the company. A stable
price always wins the confidence of customers.
Capture the Market
Producers aim is to capture the market and to do so, he fixes
comparatively lower price for his product, while introducing a product
to capture the lion share of market. But once they gain stability and
consistency they can change their price policy.
Facing Competitive Situation
Every producer should fix the price, keeping the price of the competitor
in mind in some types of market structure; prices are fixed in such a
way so as to restrict the entry of rival firms in the industry.
Ability to Pay:
The price should be fixed according to the ability of consumer to pay;
high price for rich customers and low for poor customers. This can be
towards
procurement
of
materials,
employment
of
sub-contract
part
production
which
is
restricting
the
production.
To install balancing equipments with higher output potential.
To introduce shift working.
If there is consistent imbalance in the production facilities, entire
plant can be replaced by installing new automatic plant.
Idle equipment may be sold so that entire attention can be
diverted to fully utilized equipments.
In all such cases, production will increase and the increased volume of
production may be sold by a suitable reduction in product price. There
can be many such cases of changing business environment which may
affect short-term and long-term objectives.
____________________________________________________________________
within
the
framework
of
opportunities
and
threats
these
environment
forces,
to
appreciate
that,
although
the
must
take
into
consideration
these
because, it is laborers, etc. A company must build cordial & longterm relationship with suppliers.
2. Marketing Intermediaries: They are the people who assist the
flow of products from the producers to the consumers; they include
wholesalers, retailers, agents, etc. These people create place & time
utility. A company must select an effective chain of middlemen, so
as to make the goods reach the market in time. The middlemen give
necessary information to the manufacturers about the market. If a
company does not satisfy the middlemen, they neglect its products
& may push the competitors product.
3. Consumers: The main aim of production is to meet the demands of
the consumers. Hence, the consumers are the center point of all
marketing activities. If they are not taken into consideration, before
taking the decisions, the company is bound to fail in achieving its
objectives. A companys marketing strategy is influenced by its
target consumer. E.g.: If a manufacturer wants to sell to the
wholesaler, he may directly sell to them, if he wants to sell to
another manufacturer, he may sell through his agent or if he wants
to sell to ultimate consumer he may sell through wholesalers or
retailers. Hence each type of consumer has a unique feature, which
influences a companys marketing decision.
4. Competitors: A prudent marketing manager has to be in constant
touch regarding the information relating to the competitors
strategies. He has to identify his competitors strategies, build his
Companys
obligation
is
not
only
to
meet
the
should
study
the
population,
its
distribution,
age
can
produce
only
those
products
which
suits
the
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3. Explain the procedure in Marketing Planning.
Marketing is a process of developing and implementing plans to
identify and satisfy customer needs and wants with the objective of
customer satisfaction and profits making. The main elements of
marketing planning are - market research to identify and anticipate
and
maintaining
feasible
balance
between
the
defines
the
business
mission,
analyses
the
environmental,
for how to achieve the objectives. Following are the steps involved in a
marketing plan.
1) Mission: Mission is the reason for which an organization exists.
Mission statement is a straightforward statement that shows why an
organization is in business, provides basic guidelines for further
planning, and establishes broad parameters for the future. Many of the
useful
mission
statements
motivate
staff
and
customers.
of
an
organization
including
marketing
Marketing
Audit:
analyzing
and
plan
if
necessary.
customer.
For example:
Messaging/Offering
Assumptions
assumptions
about
what
president, who manages the sales force and also performs some
selling, have a simple sales department configuration.
2. Sales departments with Ancillary marketing functions:
Larger companies require conducting marketing research to learn
about customer needs and market potential. It also has to
advertise its products and services. An Advertising Manager may
be hired to handle these activities.
3. Separate Marketing Department:
Many companies
specific product and brand managers. The following are the main
functions performed by product and brand managers:
changing
dealer
attitudes,
and
new
problems
and
opportunities.
Market-Management Organization
This kind of organization is common in companies which sell their
products to a diverse set of markets. When customer falls into different
user groups with distinct buying preferences and practices, a market
management organization is desirable. In this kind of organization, the
following structure is preferred
Market- Management organization Structure
Market Manager
Market
Development
Market
Industry
Managers
Specialists
Specialists
into
separate
divisions.
The
divisions
have
their
own