MARKETING MANAGEMENT QUESTIONS OF PHILIP KOTLER ANSWERED BY JAGADISH Q1) How does marketing affect customer value ?
Ans) customer value : any value which benefits the customer and increases his aspiration to purchase the product again which he has purchased marketing helps the customer in selecting the product which he aspires to purchase. a customer doesn't have idea what is important for himself. he checks out through products which are marketed in the product and purchases them by tallying with what is suitable to him and how the product is useful in his daily activities. Q2) How is strategic planning carried out at different levels of the organization ? Ans) strategic planning has to be carried out by both middle management and top level management. it is so because middle management is in touch with entry level marketing executives which makes the middle management understand the pulse of the customers. middle management and top level management understand both strategic and man management principle. hence strategic management has to be carried out by both middle management and top level management . how many people has to be their from middle management? depends upon how big the organization. jagadish feels that all the middle management who make strategic decisions has to be included in the decision making process . it is so because they are 1 touch with the marketing executives 2 touch with the customers, who interact with front line executives. problems of front line executives with customers are also sorted by the middle management Q3) what does a marketing plan include ? Ans) marketing plan should include a) vision of the company b) mission of the company c) aim of the company in next 5 to 10 years deadline
d) tactics of the company to solve the mission e) problems that company would face in near future and how it can solve the problem f) how stockholders would be handled by the company g) what would happen to products supply chain management in near future. g) financial projections of the company and also what to expect from the company in near future h) future projects being taken up by the company in near future Gathering information and scanning the environment (chapter 3) Q4) what are the components of a modern marketing information system ? Ans) components that are expected in a modern marketing information system is same as above question Q5) what are useful internal records ? Ans) useful internal records should include as same as above question and below question Q6) what is involved in a marketing intelligence system ? Ans) marketing intelligence system should include a) supply chain management system b) vision and mission of company c) secondary data of the company products d) future projections and aim of the company e) competitors and complementors decision making information and their product information and how it would affect the company. Q7) what are the key methods for tracking and identifying opportunities in the macro environment ? Ans) a) secondary data of the company b) market place and market space c) complementor and competitor websites d) government regulations to respective industries Q8) what are some important macro environment developments ? Ans)
a) government regulations b) market space control c) supply chain management rules d) multilevel marketing e) service industry development in near future f) spirituality being introduced in management Q9) what constitutes good marketing research ? Ans) good marketing research should include a) good secondary data b) perfect segmentation, targeting and positioning c) knowledge management about the product that is being researched d) correct primary data questions to get the correct information Q10) what are good metrics for measuring marketing productivity ? Ans) good metrics for measuring marketing productivity are a) correct primary data and secondary data b) sales being generated through the product in the locality (Demographic and geographic) c) repeat purchase by customer with the help of MIS (management information system) ERP(Enterprise Resource planning) Q11) How can marketers assess their return on investment of marketing expenditures ? Ans) marketers assess their ROI of marketing expenditure through various ways like 1 repeat purchase by customer 2 development of market space by company 3 number of complementors developed because of ROI 4 reduction of competitors in the market 5 increase in profit in the place market expenditure was incurred. Q12) How can companies more accurately measure and forecast demand ? Ans) The companies can accurately measure and forecast demand through different ways 1 Management Information System 2 secondary data research about the product -6months 3 market space questionnaire 4 constant repeat purchase by customers in specified localities.
Q13) what are customer value , satisfaction and loyalty, and how can companies deliver them ? Ans) customer value : any value which creates satisfaction in a product by its consumption either company or customers i.e B2B, B2C customer satisfaction : any satisfaction enjoyed by customers through usage of products produced by the company is called customer satisfaction customer loyalty : it is defined as something by which customers through products, through repetition, purchase, products because of its overall satisfaction enjoyed by its consumption by customers through repetition. companies can deliver customer value , satisfaction and create loyalty for their products in different ways . they are through 1 Customer stock option plan for repeat purchasers 2 supply chain management removed through company outlets by getting information by interacting directly with customers eg Hindustan Lever Limited outlets 3 by focusing their attention on opinion leaders by recruiting them in the company payrolls 4) through 4c by tying up relationship between companies to do marketing research on their respective companies brands in similar industry Q14) what is the lifetime value of customers for a company ? Ans) how to calculate it lifetime value of customers can be analysed by sales generated by company products in the year --------------------------------------------------------------------------------------- * 50 (life time age of customers) number of products sold in a year B2B or B2C TO BE DISCUSSED LATER
Q15) how can companies both attract and retain customers ? Ans) companies can both attract and retain customers through different ways. they are 1) CSOP (customer stock option plan) 2) websites by giving offers to customers who log in into the website (bonazas) 3) 4c concept through combos 4) education training booklets to use products purchased to optimum level, how to use products through alternative uses by customers which can benefit them Q16) how can companies cultivate strong customer relationships ? Ans) companies can cultivate strong customer relationships through ways like 1) CSOP (customer stock option plan) 2) free gifts/ tour packages/ books to those shareholders who have stayed for 3 or more years with the company 3) company factory tour package to those stakeholders who have stayed with the company 4) articles by customers on company brouchers with photo Q17) how can companies deliver total quality ? Ans) companies can deliver total quality by various ways 1) 4c concept by tying up relationship with company known for quality service and product and through other areas 2) CSOP (customer stock option plan) 3) through good supply chain management 4) through quality products to be manufactured with good raw materials Q18)what is database marketing ? Ans) database marketing is defined as anything which produces database for the products for which marketing is designed Q19) How do consumer characteristics influence buying behavior ? in the 21st century people buy products out of want instead of need needs : anything which satisfies the normal desires of a person is called as needs
want : anything which satisfies the entire portion of desires either fully or partially which can also be future desires of a person is called as want it is also seen that consumers purchase through impulse buying in 21st century,. this type of purchase has become more common than other style of purchase. (market place and market space) it is seen evident because their is too much of excess money with consumers because of revolution that has taken place in Information technology and business process outsourcing which is seen even in both developed and underdeveloped countries. money circulation has become excess than required so people are going for want instead of need. but this type of spending by consumers is still not evident than in streams other than the two above.(Information technology and bpo) retail segment and hospitality are only the other streams which is fast picking up on par with information technology and BPO. consumer characteristics do influence decision making of an individual. if a person likes to play sports his purchasing capacity to a larger extent be restricted to sports. now problem here is that if a company wants to sell its products either the company is new or old it doesn't matter . the only thing left out how would the company know the characteristics of an individual to which it wants to target the solution is 1 survey in organized retail stores 2 survey in cinema halls at the time of purchase of tickets by family unit. 3 survey in newspapers and gift wraps attached on the following day for giving important information to the company which did the survey in the newspaper survey cannot be done in magazines,billboards 1 they are costly affair 2 only few consumers purchase compare to newspapers 3 mostly in 21st century people buy on impulse Q20) what major psychological processes influence consumer responses to the marketing program ? 1) impulse buying
2) gifts/products which are free and gifts/products which have novelty in them 3) fast money generating programs of marketing 4) any product which solves their daily problems quickly Q21) How do consumers make purchasing decisions ? 1) impulse buying 2) gifts/novelty products 3) anything which consumers can get atleast double the investment they have invested in money 4) any product or item which makes peoples life easy and comfortable .Q22) How do marketers analyze consumer decision making ? Ans) marketers can analyse consumer decision making through different ways 1) information technology : market space and organised retail stores in both developed and developing countries in those areas where countries work on unorganised retail stores information can be got through wholesalers and distributors 2) in those areas where multi level marketing (mlm) is prominent way of generating sales it can be solved through retail outlets who sell to these individual people who use mlm Q23) What is the business market and how does it differ from the consumer market ? Ans) business market can be defined as any business which is done through b2b (business to business) segment. it differs from consumer market as consumer market is defined as any business which is done under b2c (business to consumer) segment and c2c(consumer to consumer) segment Q24) what buying situation do organizational buyers face ? Ans) buying situation organizational buyers fall under
1) technical, non technical recruitment staff 2) knowledge capital 3) manufacturing and non manufacturing components 4) market place and market space buying Q25) who participates in the business to business buying process ? Ans) 1) purchasing department 2) finance department .3) marketing department 4) ceo, cfo , cmo , coo and board of directors if price of purchasing is beyond the hr policy of above 3 departments Q26) How do business buyers make their decisions ? Ans) business buyers purchase from others based upon future and present projects they are going to undertake. based upon these projects they tie up with respective companies , industries which are related to those projects they are going to undertake. Q27) How can companies build strong relationships with business customers ? Ans) companies build strong relationships based upon the projects they undertake and profits and also on the projects which are shared on the basis of contribution given by respective industries and companies .in the project they have undertaken 1) contract basis relationship is maintained 2) quality control mechanism at regular projects 3) knowledge sharing between partners 4) regular service and interaction between partners Q28) How do institutional buyers and government agencies do their buying ?
Ans) 1) market place and market space 2) company gatherings 3) multi level marketing by respective employees of the company for the company he represents 4) through the aid of complementors Q29) what are the different levels of market segmentation ? Ans) 1) segmentation on the basis of countries 2) segmentation on the basis of demographic locations 3) segmentation on the basis of geographic locations 4) segmentation on the basis of population 5) segmentation on the basis of culture 6) segmentation on the basis of religion 7) segmentation on the basis of issues 8) segmentation on the basis of generations Q30) how can a company divide a market into segments ? Ans) same as above Q31) How should a company choose the most attractive target markets ? Ans) 1) the most attractive target markets can be chosen based upon the income earned and expenditure being spent by the locality in which the people stay. the more they earn the more they spend 2) based upon the locality in which people stay
3) population based upon sex, male dominated or female dominated locality Q32) what are the requirements for effective segmentation ? Ans) to do an effective segmentation requirements are 1) company product 2) population sex .3) earning capacity in that particular locality 4) housing rent Q33) what is a brand and how does branding works ? Ans) brand : it is defined as something which personifies the personality of the product of the company it represents branding helps and works in different ways a) it helps in removing barriers between nations (glocalisation) b) brands help in making two or more competitors come together to solve their financial, marketing etc problems (spiritual marketing concept) .spiritual marketing concept : under this concept companies help each other in developing strategies for each other and try to cooperate in developing competition and coopreation in their respective industries c) brands help advertisors think innovatively d) brands help supply chain management making them both efficient and effective in performance e) brands help consumers in creating image in society for themselves Q34) what is brand equity ? Ans) it is how effectively and effficeintly brand can be monitored and used for answers companies benefit Q35) how is brand equity measured and managed ?
Ans) brand equity is built upon a) good supply chain management b) word of mouth, advertising c) quality d) differentiation e) cost focus f) how efficiently retained earnings are used for measuring brands (Research and Development) Q36) How is brand equity measured ? Ans) it is measured on basis of ROI invested on brand produced by the company ROI = returns ----------------investments 2) based upon creativity how can it be measured changes made to the brand at regular intervals to catch hold of new generation with old generation jagadish feels that change should happen once in 3 months becasie age gap or generation gap; is getting decreased with introduction of information technology with feedback .mechanism with target questions to both separately new or old generation (market space) internet creativity questions (sample) 1) what changes have you obsessed in past brand in connection with revised brand (VIBGYOR) 2) was the brand introduced newly satisfied your taste buds [1 to 5] 3) which areas should company touch while designing the product (color, appearance, usage, mobility) * 100
4) what is the best way to advertise the brand ( mass communications, communication channels, service channels ) 5) what were the weaknesses of brand when introduced last time ( packages, service, communications , distributions) 6)according to new introduction of brand who should be the target audience age group (0-19, 20-35, 36-50, 50-90) how is brand equity managed ? managing the brand can be done through a) mass communication b) service channel c) distribution channel d) market space Q37) what are the importance decisions in developing a branding strategy ? Ans) a) feasibility of the project brand b) availability in Research and Development (money) c) usage of channel partners efficiently and effectively d) segmentation, targeting , positioning of brand e) glocalisation of the brand Q38) how can a firm choose and communicate an effective positioning in the market ? ans) A firm can choose and communicate effective positioning in the market through a) quality b) good supply chain management c) channel partners d) focus e) cost f) differentiation g) retail outlets (organised, unorganised) Q39) how are brands differentiated ? same as above Q40) what marketing stategies are appropriate at each stage of the product life cycle ?
Ans) introduction ( word of mouth) growth ( advertising ) maturity ( advertising and market space (internet) decline ( quality improvement and lots of advertising) Q41) what are the implications of market evolution for marketing strategies ? Ans) a) development of new out of box thinking b) products mature early but remain their for long period of time c) usage of higher end technology (ERP) Q42) how do marketers identify primary competitors ? Ans) on the basis of a) market share b) repeated purchases of competitors products known through organised retailers technology c) supply chain management d) communication channels Q43) how should we analyse competitors strategies objectives strengths and weaknesses ? Ans) 1) observing supply chain management of competitors 2) survey by giving it to distributors, retailers, wholesalers 3) body shopping 4) trade unions Q44) how can market leaders expand the total market and defend market share ? Ans) 1) by setting up factories 2) by coordinating with complementors 3) setting up company outlets 4) multilevel marketing how to defend market share 1) by setting up dwelling in Research and Development 2) creating market space
3) by creating gift bonazas 4) csop (customer stock option plan for repeat purchasers) Q45) how should market challengers attack market leaders ? Ans) 1) guerilla warfare 2) attack the strengths by making comparative analysis between challengers and leaders 3) by setting up company outlets where competitors has and hasn't touched 4) Flank attack Q46) How can market followers or nichers compete effectively ? Ans) same as above Q47) what are the characteristics of products and how can they be classified ? Ans) characteristics of products are : 1) product should have saleability 2) product should have good easy name 3) product should have good communication channels 4) product should satisfy to a larger extent desire of consumers 5) product should possess repeat purchases .how are products classified ? a) perishable b) non perishable c) stable ( satisfying customers on the spot with consumption) eg tea d) non stable : (product that takes longer time to satisfy consumers) eg : reading a book Q48) how can companies differentiate products ? Ans) same as above Q49) how can a company build and manage its products mix and product lines ? Ans) product : through communication channels place : through segmentation, targetting, positioning price : through cost, focus,differentiation, retained earnings promotion : through communication, service ,
distribution channels Q50) how can companies use packaging, labelling , waranties and gaurantees as marketing tools ? Ans) companies can use packaging to bring about novelty - eg kurkure warranties and gaurantee if lengthened can help consumers to purchase more of the product labeling helps consumers pick up easily the product with smart names eg : Rajnigandha Q51) how are services defined and classified and how do they differ ? services is defined as any return which paid back by the company for services rendered by it back to consumers classification of services a) services rendered through word of mouth b) services rendered through technology c) services rendered through manual labor d) services rendered through money word of mouth is rendered by explanation of product technology is rendered through after sale service (defective technology manual labour is rendered through after sale service money is rendered by buy back offer eg: pressure cookers Q52) how are services marketed : ? Ans) same as above Q53) how can service quality be improved ? Ans) a) job enlargement b) job rotation c) job enhancement Q54) How do services marketers create strong brands ? Ans ) a) after sale service b) word of mouth c) communication channels d) market space e) help desk
f) research and development g) booklets Q55) How can goods producing companies improve customer support services ? Ans) a) business process outsourcing b) telecallers c) information booths [kiosks] d) industrial fairs e) Customer relationship management f) market space [ emails ] g) surveys Q56) how do consumers process and evaluate prices ? Ans) a) competitor price b) segmentation, targeting , positioning c) salary earned by respective family target audience d) number of family members e) break even point f) replacement of products quickly Q57) how should a company set prices initially for products or services ? Ans) a) break even point b) decision takers as to how quickly board of members want profit c) competitor pricing d) effect on market space money e) technology at hand f) supply chain management usage and cost factor Q58) how should a company adapt price to meet varying circumstances and opportunities ? Ans) a) inflatiion : stop advertisement, use distribution channels to promote product b) deflation : use market space (internet), communication channels, combos c) stagflation : unemployment + inflation, word of mouth through employees of company Q59) when should a company initiate a price change ?
Ans) 1) change in competitor price affect company into losses 2) when demand for a product is high or low compared to supply of the product into market 3) when inflation , deflation , stagflation occur in the market 4) when product enhancement taken into consideration Q60) how should a company respond to a competitors price change ? Ans) 1) outsourcing the areas where company can reduce money 2) core competency keep it to oneself 3) increase research and development expenditure by reducing communication channels [through focus, differentiation] 4) retained earnings to be decreased by giving it shares to shareholders Q61) what is marketing channel system and value networks? Ans) marketing channel system : it is systematic process of channelising product from starting point to end user Q62) what works do marketing channels perform ? Ans) 1) bring brand closer to consumer 2) make brand awareness possible 3) helps in promoting products under B2B, B2C,C2C 4) help brands in STP Q63) how should channels be designed ? Ans) 1) on the basis of segmentation,targeting, positioning 2) on the basis of innovation 3) on the basis of creativity 4) on the basis of brand equity Q64) what decisions do companies face in managing their channels ? Ans) a) what type of channel to decide to promote brand b) if marketing channel fails what the back up
c) what type of channel to use to do segmentation, targeting, positioning d) which channel is effective under situation like 1) inflation 2) deflation 3) stagflation Q65) what major types of marketing intermediaries occupy this sector ? Ans) Retailing - organised, unorganised wholesale - all types of products handling similar types of products handling logistics - transportation,. warehousing Q66) what marketing decisions do these marketing intermediaries make ? Ans) 1) type of products to store 2) quantity of products to store 3) cost factor involved 4) usage of Enterprise Resource Planning Q67) what are the major trends with marketing intermediaries ? Ans) unorganized to organized retailers Q68) what is the role of marketing communications ? Ans) 1) To create brand equity for the product 2) to do segmentation , targeting, positioning for the product 3) to make consumers aware of the product 4) to find complementors for the company Q69) how do marketing communications work ? Ans) through 1) mass media 2) market space 3) networking 4) supply chain management 5) B2B, B2C, C2C 6) segmentation , targeting, positioning 7) branding .Q70) what are the major steps in developing effective communication ? Ans) 1) vision of the company 2) brand equity 3) mission of the company 4) segmentation , targeting , positioning
5) feedback Q71) what is the communication mix and how should it be set? Ans) communication mix : it is considred to be a mixture of conglomerate of selected channels to get right promotion of product brand into making without creating hurdles for the company the brand represents how should it be set 1) on the basis of objective of the brand 2) on the basis of the life cycle of brand 3) on the basis of competition with competitors 4) on the basis of help got from complementors Q72) what is an integrated marketing communications program ? Ans) to determine whether communication are truly integrated 1) on the basis of channels marketing 2) on the basis of coverage of brand 3) on the basis of cost Q73) what steps are involved in developing an advertising programs ? ans) 1) vision of the company 2) mission of the company 3) segmentation, targeting, positioning 4) type of communication channels 5) frequency of promotion activity 6) investment by company
.Q74) how should sales promotion decisions be made ? Ans) a) input from marketing executives b) objectives of mission and vision of the company c) investment to be made by company Q75) what are the major ways of entering a foreign market ? Ans) 1) mergers and acquisitions
2) own outlets 3) technology 4) saving price 5) quality standards 6) demographic population 7) geographic advantage 8) better communication channels Q76) what factors should a company review before deciding to go abroad ? Ans) 1) target population 2) segmentation, targeting , positioning 3)which product to introduce 4) pricing of the product 5) change of name plate of brand it is making Q77) how can companies evaluate and select specific foreign markets to enter ? Ans) 1) similarity in culture 2) friendship between countries 3) population demographics 4) manpower 5) pricing Q78) what are the guidelines for effective brand building events and experiences ? Ans) guidelines for effective brand building events and experiences are brand building events and experiences can be defined as promotional activities done to make the brand a success in the minds of consumers else customers some of the best ways to do it a) demographic and geographic locations of consumers where brand is not selling b) survey on consumer spending where brand is not selling c) core competency of the area where branding is weak, to find out products that sell in that location d) age group of the locality where brand is weak e) media selection by the respective consumers where brand is weak Q79) how can companies exploit the potential of public relations and publicity ?
Ans) companies can exploit the potential of public relations and publicity through a) check out the mass media which is prevalent in the geographic location selected by company b) check out the age group of the consumers who are using mass media c) check out through kiosk how effective the consumers are in knowledge about products and also on other brand awareness of products that company represents d) select the distribution channel which is convenient for the company to deliver e) if successful product distribution towards consumers then can later be done through company outlets Q80) How can companies use integrated direct marketing for competitive advantage ? Ans) integrated direct marketing is defined as direct marketing association of multiple benefits packed together to solve company problems competitive advantage can be defined as any benefit enjoyed by the company either through cost advantage, focus or differentiation between company products or branding how to use integrated direct marketing for competitive advantage by companies it is by a) checking out the marketing channels which can be used by the company b) checking out whether direct marketing can be added up to these channels selected by company c) checking out the marketing strategy adopted by the company through secondary data d) checking out the products used by the company while selecting the secondary data e) checking out whether the direct marketing benefits were used by the company or not f) benefits can be like after sale service, pamphlet distribution, customer database collection etc g) checking out whether those benefits can be reused for present brands or not
h) checking out the complementors who would be benefited because of this direct marketing tactics used by the company and tie up with them for future sales and benefits to be enjoyed by the companies that are being associated with each other i) once you know complementors try to see, what other benefits that a complementor can bring to the company that it feels associated with j) lastly by checking out the demographic, geographic boundaries used by the companies to promote to customers for their respective products
Q81) how can companies do effective e-marketing ? Ans) companies can do effective e marketing through different ways such as a) job portal survey b) cross usage of e marketing space in the Internet c) additional packages and updations sent to end user account through net Q82) what decisions do companies face in designing a sales force ? Ans) the decisions needed by companies to face while designing a sales force is through a) geographic boundaries does the company products have sold and are to be sold to end user b) average rent paid by the end user while stationing at respective localities c) selecting the job localities in respective states and their employee salary packages where they work d) age group of focus group, opinion leaders which are to be targeted by the sales force Q83) how do companies manage a sales force efficiently ? Ans) companies can manage a sales force efficiently by following certain rules and regulations a) keeping the sales force age to certain minimum based on the target customer they cater to b) creating a close nit teams catering to particular localities by respective teams on consistent basis without changing their respective localities so that team gets used to catering to those localities assigned to them permanently c) creating a team report by respective teams to their localities every day or week depending upon the end consumer else retailers requirement
Q84) how can salespeople improve selling, negotiating and relationship marketing skills ? Ans) salespeople in a company can improve selling, negotiating and relationship building skills through by a) attending management seminars b) in house laboratory c) strategy team and training and development wing to be given good management books/journals and to apply them to the companies requirements Q85) what challenges does a company face in developing new products ? Ans) challenges that a company faces in developing new products are a) cost factor -- too costly to sell to end user b) not able to associate the product with existing complementor product c) goodwill of company image is at stake to make product compete with other competitors on all fronts like quality, service, distribution etc d) choosing of marketing channel (service, distribution, communication) is at stake if product fails which might affect the existing brand communication channel of existing products of the company Q86) what organizational structures are used to manage new product development ? Ans) the type of organizational structures that are used to management new product development are horizontal structures because easy monitoring by CEO to check whether product is beneficial to the customers or not complementor structure to check out whether the product is beneficial to complementors or not complementor structure can be defined as number of complementors which can create value addition to the company or industry to which it might relate to (product wise)
Q87) what are the main stages in developing new products ? Ans) The main stages in developing new products are a) marketing research b) good segmentation , targeting and positioning of product to be launched c) checking out the changes that have happened in consumer behavior over the period of say 6 months with the help of focus group, opinion leaders d) finding out whether product would be accepted based upon line extension or not Q88) what is the best way to set up the new product development process ? Ans) new product development process can be defined as process that takes place in development of products launched which is beneficial to the end user or not which can be both B2B, B2C the best way to set up the new product development process are a) focus group , opinion leaders information including through Internet b) complementor information gathering as to what developments have happened to them c) checking out the developments happening in the retail sector d) employee ERP information as to what changes would employees like to make in their company products and if success pay them stocks from the company
Q89) what factors affect the rate of diffusion and consumer adoption of newly launched products ? Ans) the rate of diffusion can be defined as the spread of social institutions (and myths and skills) from one society to another (word web) the factors that affect the rate of diffusion of newly launched products are a) environment changes of developments taking place in society b) inflation, deflation, stagflation taking place in society c) concentration of population index ( youngster, aged etc ) in a country d) employment generation through companies (strategy wing thought process) the factors that affect the consumer adoption of newly launched products are consumer adoption can be defined as products that are easily acceptable by consumers which are newly launched into the society
a) demographic (age, sex ) b) psychographic (attitude) c) house rent d) employment of youth into what type of companies e) concentration of middle class in particular localities Q90) To what extent must the company adopt the products and marketing program to each foreign country? Ans) the company must adopt the products and marketing program to each foreign country by a) multi linguistic languages in respective countries b) age group of the maximum consumers prevalent in respective countries c) mass media used by respective countries d) resemblance of culture present in foreign country as is prevalent in motherland Q91) how should the company manage and organize the international activities ? Ans) the company should manage and organize the international activities through different ways such as a) glocalization b) setting up toll free numbers in international countries c) monthly booklets to be published to employees and stakeholders about companies situated in foreign and local countries Q92) what are important trends in marketing practices ? Ans) the important trends in marketing practices are a) spiritual marketing concept b) trust between companies c) coming up of complementors d) organised retail sectors coming into operation acrosss nations e) setting up of manufacturing units in towns specially in developing nations Q93) what are the keys to effective internal marketing ? Ans) internal marketing can be defined as operations done by companies through internal management by brand managers
the keys to effective internal marketing are a) setting up ERP for internal records b) setting up advertising budget with and without mass media support c) getting help through focus group, opinion leaders d) promotional campaign through market space (internet) e) finding out complementors in the market and promote them through combos
Q94) how can companies be responsible social marketers ? Ans) companies can be responsible social marketers by following certain rules a) by serving ecological balance products to end user which would benefit them goodwill in the long run b) by promoting trust between companies and help each other to develop their respective industries in the eyes of stakeholders c) by promoting good products of any company which is useful to end user Q95) how can a company improve its marketing implementation skills ? Ans) company can improve its marketing implementation skills through a) opinion leaders help b)employee stock option plan c) employee customer stock option plan d) complementor sharing of information e) doing research and development with both complementor and competitor industry wise Q96) what tools are available to help companies monitor and improve their marketing activities ? Ans) the tools that are available to help companies monitor and improve their marketing activities are a) ERP (enterprise resource planning)
b) CSOP (customer stock option plan) c) ESOP (employee stock option plan) d) MARKET SPACE (internet) e) mobile commerce Defining marketing in the 21st century (chapter 1 ) Q97) How is marketing important ? in todays 21st century marketing is becoming the backbone of companies. even though we see financial officers becoming ceos this trend can change in near future. for the simple reason being without cmo or marketing wing the company cannot run. one may argue that cfo help in making financial decisions and allotment of money is important for a company. but one has to see that even after financial allocation cfo stills depends upon revenue generation. this means he has to go back to marketing wing to generate revenue . without marketing wing financial wing cannot survive. but without financial wing marketing can survive. Q98) what is the scope of marketing ? The state of the environment in which a situation exists copied from wordweb i define scope as jurisdiction beyond which marketing is not tied up. what can be the scope of marketing jagadish says their are 2 things beyond which the scope of marketing ends. one is financial monetary aspect the other is non monetary or case analysis of marketing problems. Q99) what are some fundamental marketing concepts ? some fundamental concepts coined by jagadish concepts are spiritual marketing concept : under this concept companies help each other in developing strategies for each other and try to cooperate in developing competition and cooperation in their respective industries the basis of foundation of this concept would be on 3 layers 1 trust 2 perfect relationship management 3 participative marketing management
perfect relationship management : it can be defined as something when 2 or more parties come together and think for on behalf of their companies and come out with better solutions either through collaboration or through cooperation collaboration : this is defined as 2 or more companies considered competitors in the market, come together to solve industry problems perfect relationship management : a relationship where companies 2 or more join hands together for a common cause trust : it is something which binds people together without arousing resentment while working with each other participative marketing concept : it is a conceptual tool to determine the complementors, competitors for the company and help company to provide solutions to the existing problems in the industry it represents job entry : any entry made by the employee on the job that she has been enrolled while joining at the first date in the company job enhancement : any job which is done by an employee which enhances the reputation of the employee and the company is job enhancement job rotation ; any job which an employee does on rotational basis by taking up different tasks in the company is job rotation job enlargement : any job taken up by the employee of a company which is done in addition to the job he has been assigned to is job enlargement job work: any job taken by the company employee is job work brand : it is defined as something which personifies the personality of the product of the company it represents product : anything which highlights the companies inner strength is called as product marketing : meeting needs profitably needs : anything which satisfies the normal desires of a person is called as needs want : anything which satisfies the entire portion of desires either fully or partially which can also be future desires of a person is called as want
private label : any product designed by the retail industry segment not in tie up with the companies is called as a private label Q100) how has marketing management changed ? It can be seen that retail segment has come up with private labels in competition with company products marketing management has become a commonsense approach. it is through commonsense that problems are being solved through case studies. if you take into consideration premier management schools case study analysis commonsense has become the sole moto in solving current and future problems on the basis of secondary data. Q101) what are the tasks necessary for successful marketing management ? in to days scenario trust , commitment and truth have become the foundation on which necessary marketing management principles are based upon.