Paper Title: Marketing Management

Q1

1. i. What is product cycle ?

Ans :- The product lifecycle, in a marketing context, is all the stages of a product's life span that
are related to its promotion and sales. The marketing lifecycle is traditionally broken down into
four stages: introduction, growth, maturity and decline. 1. In the introduction stage, the product
is released to the market; pricing and branding decisions are made and marketing begins. 2. In
the growth stage, vendors work to increase brand recognition and market share. 3. In the
maturity stage, market saturation has been achieved. The attempt is to maintain market share.
Once sales begin to decrease, extension strategiesmay be employed to try to keep the product
in the maturity stage. 4. Otherwise, the product is in its decline stage and an exit strategymay
be set in motion. The marketing lifecycle is less comprehensive than the concept of the product
lifecycle in manufacturing, which encompasses all the stages a product goes through from its
initial conception (beginning-of-life, or BOL) to its eventual disposal at the end of its useful life

ii) Name two feature of Marketting ?

Answer :- Features of Marketing Research 1. It is a systematic process – It has to be carried out

in a stepwise and systematic manner and the whole process needs to be planned with a clear
objective. 2. It should be objective – It is important that the methods employed and
interpretations are objective. The research should not be carried out to establish an opinion nor
should it be intentionally suited towards predetermined results. 3. It is multi-disciplinary –
Marketing Research draws concepts from other disciplines such as Statistics for obtaining
reliable data and from Economics, Psychology and sociology for better understanding of
buyers.

iii) What is MIS?

Ans :- A computerized management information system (MIS) in all registered clients,

counseling sessions, and all medical visits provided to the clients with respect to hospital
management system of any major hospitals. Non-computerized data from previous years only
documented the number and location of counseling sessions while the new MIS provides much
more specific and detailed data. The impact of computer-based information systems on
manager’s work reflects decisions made by managers themselves about how the technology is
used. The impact of MIS is not an individually stable and predictable. As a manager at any
organization you can use non linear on-going process of change that evolves over time and
situations. In an organization you can develop a system, shape it and also react it to any
different way. We cannot limit the impact of MIS to some specific areas. It has wide range of
applications and has a unique impact on each system. Now , MIS has become very important
fact of all the information systems that we cannot view any system without MIS.
iv) Why is scanning of environment a crucial task ?

Ans :- Environmental scanning is the communication of external information about facts that
could influence an organization on its’ strategic decision-making process. It is a method of
analyzing relevant gathered information and use to determine strategic and premeditated action
on the business environment. The environmental scanning process seek obtain both realistic
and subjective information on the business environments where a corporation is functioning or
considering entering. It is the possession and use of information concerning events, trends, and
interaction in an organization's ext ernal environment, the data of which could support
management in scheduling the organization's future line of action.

v) What is marketing audit ?

Marketing audit is an extensive, systematic, independent and regular examination process of a

company's marketing activities. It is an extensive or comprehensive process because it covers
all (entire) marketing activities of a company. It is a systematic or methodical process since it
strictly follows all involved steps or procedures properly. It is an independent or autonomous
process conducted by an external person. This person is not from the marketing department of
a company. It is a periodic process because it is conducted continuously after some fixed
interval of time.

Q. 2) Explain the various types of promotion techniques used in marketing ?

Ans :- Promotional techniques A company can employ various promotional techniques in order
to communicate with the target market, techniques that form the promotional mix. Depending on
the communication means, the promotional techniques can be:  Direct (persona l)
communication techniques – focused on creating a relationship with each client (personal sales,
direct marketing)  Indirect (non- persona l) communication techniques – based on mass
communication, the message in identical for a high number of potential customers ( advertising,
public relations, sales promotion Following, the main promotional techniques used by
companies: 1. Advertising Is a form of promoting the products, services and image of a
company that is addressed to large numbers of consumers, using the mass media. Depending
on the financing, there are:  Free advertising – is an informative communication that doesn't
have a sponsor. Focuses on reporting news or information concerning a company, using mass
media (press conferences, press releases)  Advertising – is paid by a sponsor, that is usually
the company producing the promoted goods. Its main characteristics are:  It's a paid
promotion technique  The target market is scattered territorially  The message is transmitted
using mass media  Is a non-personal communication technique  The company paying for the
advertising is usually identified in the content of the message. 2. Public relations Are a
deliberate and planned effort of a company to communicate to various public categories that
might have an interest in the company's activities (customers, investors, employees). The
purpose of this in creating a favorable image and a trust climate based on convenient mutual
relations. Public relations use various communication channels, from personal channels to
mass media. The differences between public relations and advertising are:  Public relations
use informative messages (company achievements, annual reports, balance sheets) 
Advertising calls to immediate action while public relations try to build trust  Public relations
actions are unique, while advertising can be repeated  Public relations can be achieved also
through public dialogue. 3. Sales promotion Uses a wide variety of instruments meant to lead
the customer to an immediate action regarding the purchase of a good or service. The main
characteristics of sales promotions are:  Offer an immediate advantage – a price discount, a
higher quantity at the same price, a free service, a contest.  Are exceptional – the advantage
is not permanent, is available for only a period of time  Call to immediate action – the fact that
the offer is limited is highlited  Cause regrets – if the customer doesn't purchase the product.
All these are communicated in the message that joins the campaign. The main sale promotion
techniques are:  Price discounts  Offering a larger amount of the product at the same price
 Group sales  Gifts  Loyalty gifts  Samples  Games, contests, raffles. he can purchase
in that place. Lightboxes  Banners  Posters  Product display shelves  Specific lighting 
Point-of-sale atmosphere  Audio-video messages  Promotional gifts (pens, lighters, bags,
products printed with the company brand) 5. Direct marketing Is an interactive communication
system with each consumer, using a distance communication mean: catalogs, personal letters,
electronic catalogs. The interactivity consists in the option the receiver has to order the product
from the catalog, and have it delivered at home. 6. Personal sales Involve the direct contact
between a salesperson and a customer, usually at the customer's residence or in public places.
The selling process is joined by promotional messages focused on the advantages offered by
the produc t. 7. Promotional gifts Are small presents printed with the company logo or product
name, offered to the customer in order to remind him of the product. For example: pens,
lighters, ashtrays, agendas. 8. Internet promotion Consists in communication using web sites
that will create the virtual company image, present the products, include press releases. The
most used Internet advertising means are: banners, pop-ups, newsletters, link to the company
website.

3. Explain the role challenges of using internet in marketing?

Ans :- Internet marketing can have some disadvantages to the way a business operates. Below
shows some examples of challenges that businesses may face; - Converting leads to sales For
a business to convert leads into sales they need to attract customers and make sure that they
buy something from them. ASOS can measure how many people have visited their website but
cannot find out how many people have actually purchased from them. To gain more sales
ASOS should make their website different from competition and offer wider ranges of products
which encourages people to buy from them. ASOS also need to carry out market research to
find out what people want, this would help them with their sales as they will have this
information and will know what people like and dislike. - Managing an online market system It is
important for a business to manage their online market system. This can be very difficult for a
business as they regularly have to keep up to date with customer feedback and also regularly
update their website to keep customers interested. It is important that they keep their website
regularly updated so they can retain their customers and also this may help to attract new ones
as more people will become aware of the business. It is also important to reply to customers
questions and join in with customer discussions over the website. This provides a good
customer service which also helps to retain their customers. This could be a disadvantage for a
business as they would need to employ people who are specialists to keep their websites
maintained regularly; this could be very costly for them. ASOS have specialists who keep their
website up to date and also try to make it stand out from their competition. They also send out
regular emails to their customers informing them of latest products or any changes in the
business. - Prioritizing time, energy and money for best results It is important that a business
has time, energy and money to produce the best results for their business. A disadvantage for a
business is that they may put all of the above into the business and end up making a loss as
their sales may not be high enough which means they may not be able to cover the costs. -
Creating content It is important that a business knows what target audience they are aiming
their products at. Once they know this they need to decide what content they should have on
their website to keep their target audience attracted. It is important that they provide products
which are different from their competitors so they keep ahead of their competition. A
disadvantage for having an online business is that you have to be patient as it takes longer for
the business to become well known and also for customers to become aware of the website.
When setting up an online business a business needs to think about making their website well
presented and easy to access, the costs of advertising, securing the website from hackers and
viruses and finding ways to keep ahead of the competition. Other challenges when setting up
an online business include; - Technical and Design skills – It is important to have technical skills
when setting up an online business, this is because online businesses websites regularly need
updating and need a lot of attention so it is important that the person maintaining the website
has good ICT skills and also good designing skills to attract customers. - Making the website
easy to use for customers – it is important that the website is easy and simple to use for
customers. If customers find it easier to navigate around the site there is more of a chance for
the customer purchasing from them again as they are familiar with the website. Adding
additional features such as; being able to zoom in and out and seeing a 3D image of the
product also helps to gain customers and is also providing a better customer service. - Making
sure the website is secure for customers – There is always a chance for a businesses website
to be hacked or have a virus on it. It is important that a business has security measures to
prevent these things from happening. They also need to make sure that all customer details are
secure and no one has access to them. - Carrying out research – a business needs to make
sure that they carry out market research before they start an online business. By doing this they
can find out exactly what their target customers want. - Updating website regularly – for an
online business it is important that they update their websites regularly with all their latest prices
and products. This will keep customers interested and purchasing from them in future. -
Keeping ahead of competition – operating an online business has become more popular over
the years. A business needs find ways to keep ahead of their competition. They could do this by
offering cheaper prices and wider ranges of products. - Advertising – another challenge faced
by businesses is advertising and the costs of it. Businesses need to consider if they want to
advertise and how much they are willing to pay to make their website well known.
 Internal Assignment No. 2
Paper Title: Marketing Management

Q 1. Answer all the questions:

(i) What are the types of communication system?

 Ans (i) There

are four types of marketing communication, including
advertising, public relations, and sales promotions. Being the most
powerful device of marketing communication, advertising offers an
extended reach to audience and high frequency of message delivery.

(ii) What do you understand Channel of distribution?

Ans (ii) A distribution channel is the chain of businesses or intermediaries through which a good or
service passes until it reaches the end consumer. A distribution channel can include wholesalers,
retailers, distributors and even the internet. Channels are broken into direct and indirect forms, with
a "direct" channel allowing the consumer to buy the good from the manufacturer and an "indirect"
channel allowing the consumer to buy the good from a wholesaler.

(iii) Define Market research?

Ans (iii) Market

research is defined as the process of evaluating the feasibility
of a new product or service, through research conducted directly with
potential consumers. This method allows organizations or businesses to
discover their target market, collect and document opinions and make
informed decisions. Market research can be conducted directly by
organizations or companies or can be outsourced to agencies which have
expertise in this process.
(iv) How marketing is a “Pull approach” explains.

Ans (iv) Pull marketing is an approach designed to draw customers to a brand through search
engine optimization (SEO) and other non-intrusive methods. The ultimate goal is to strengthen
consumer awareness of a brand and products and foster demand. Examples of pull marketing
include product placement, social media marketing, corporate sponsorship,content
marketing and native advertising.
The pull marketing model contrasts with push advertising, the traditional marketing approach,
in which promotional material is presented to large groups of people through channels
including flyers, magazines, television, radio and billboards as well as online ads of various
types.

(v) What is Demographic environment?

Ans (V) Demographics is the study of a population based on factors such as age,
race, and sex. Demographic data refers to socio-economic information
expressed statistically, also including employment, education, income, marriage
rates, birth and death rates and more factors. Governments, corporations, and
nongovernment organizations use demographics to learn more about a
population's characteristics for many purposes, including policy development and
economic market research.

Note: Answer any two questions. Each question carries 5 marks (Word limits 500)

Q. 2. What is marketing management? What is role and scope of marketing management?

Ans 2. Whatis Marketing Management – Definition: Provided by

Institute of Marketing Management and Philip Kotler
Traditionally, markets were viewed as a place for exchange of goods
and services between sellers and buyers to the mutual benefit of both.
Today, marketing is exchange of values between the seller and the
buyer. Value implies worth related to the goods and services being
exchanged. The buyer will be ready to pay for the goods if they have
some value for him.
Marketing is the business function that controls the level and
composition of demand in the market. It deals with creating and
maintaining demand for goods and services of the organization.
Marketing management is “planning, organising, controlling and
implementing of marketing programmes, policies, strategies and
tactics designed to create and satisfy the demand for the firms’
product offerings or services as a means of generating an acceptable
profit.”
It deals with creating and regulating the demand and providing goods
to customers for which they are willing to pay a price worth their
value.
Marketing Management performs all managerial functions in the field
of marketing. Marketing Management identifies market opportunities
and comes out with appropriate strategies for exploring those
opportunities profitably. It has to implement marketing programme
and evaluate continuously the effectiveness of marketing-mix. It has to
remove the deficiencies observed in the actual execution of marketing
plans, policies, and procedures. It looks after the marketing system of
the enterprise.
Marketing Management – Scope: Marketing Research,
Determination of Objectives, Planning Marketing Activities,
Pricing of Product and a Few Others
Marketing management, like all other areas of management comprises
of the function of planning, organising, directing coordinating and
controlling.
1. Marketing research:
Marketing research involves identification of needs, wants taste and
preferences of the targeted customer. Marketing management
conducts a continuous analysis of consumer’s behaviour towards
firm’s marketing mix strategies, business environment; competitor’s
marketing strategies in order to plan effectively the marketing
activities of future.
2. Determination of Objectives:
Marketing management performs the task of setting marketing
objectives. The marketing objectives are set in accordance with the
overall organisational objectives of profit maximization. Marketing
objectives relates to attracting new customers, retention of current
customer, expansion of customer base, introduction of new product,
improvement of old product and so on. Marketing management aims
at maximising the customer’s value by providing high satisfaction to
the customers.
3. Planning Marketing Activities:
Planning involves determining the future course of action. Planning
helps in accomplishment of objectives in a systematic manner.
Planning of marketing activities relates to determining product line
strategies, planning for product diversification, advertisement and
promotional activities, planning related to selling and distribution
process.
Planning may be conducted on short term, medium term and long
term basis depending upon the requirements. Plans should be flexible
so as to adjust with the changing business environment.
4. Product Planning and Development:
Product is the basic element of marketing. Products are goods or
services that are offered to the customer for satisfying their needs and
wants. Products are customer oriented and offered to the customer’s
as per their requirement and preferences. Product planning involves
new product development, product innovation, product diversification
plan.
5. Pricing of Product:
Pricing is a complex function of marketing management. In most of
the cases prices form the decision making criterion for purchase
decision. Pricing decisions are based on cost of the manufacturing and
distribution of product, competitor’s pricing strategies, customer’s
willingness to pay for the product, customer’s perception about the
product.
6. Promotion:
Promotion and advertisement are essential in order to maximise sales.
Promotion and advertisement is essential to provide information to
the customers about the product, to attract new customers, to provide
reminder to customers about the product and to continue purchase, to
provide information about product improvement or introduction of
new brand. Marketing management develops new techniques and
tools for promotion of their product.
7. Distribution:
Distribution process facilitates easy availability of goods and services
to the customers at right time and at right and convenient location.
Selection of distribution channel depends upon the nature of the
product, price of the product, availability of intermediaries for
distribution and cost involved in the distribution process.
8. Evaluation and Controlling of Marketing Activities:
Marketing management performs the task of evaluation and
controlling of the marketing activities. Evaluation enables
identification of effectiveness of marketing plans and actions.

Q. 3. Differentiate between selling and marketing.

Ans 3. The selling theory believes that if companies and customers are dropped detached, then the
customers are not going to purchase enough commodities produced by the enterprise. The notion
can be employed argumentatively, in the case of commodities are not solicited, i.e. the commodities
which the consumer don’t think of buying and when the enterprise is functioning at more than 100%
capacity, the company intends at selling what they manufacture, but not what the market requires.
It the sales process, a salesperson sells whatever products the production department has
produced. The sales method is aggressive, and customer’s genuine needs and satisfaction is taken
for granted.
The marketing theory is a business plan, which affirms that the enterprise’s profit lies in growing
more efficient than the opponents, in manufacturing, producing and imparting exceptional consumer
value to the target marketplace.
Marketing is a comprehensive and important activity of a company. The task generally comprises of
recognising consumer needs, meeting up that need and end in customer’s feedback. In between
activities such as production, packaging, pricing, promotion, distribution and then the selling will take
place. Consumer needs are of high priority and act as a driving force behind all these actions. Their
main focus is a long run of business ending up with profits.
It depends upon 4 elements, i.e. integrated marketing, target market, profitability customer and
needs. The idea starts with the particular market, emphasises on consumer requirements, regulates
activities that impact consumers and draws gain by serving consumers.

Top 8 Difference Between Selling and Marketing

Selling Marketing

Definition

The selling theory believes that if companies and
customers are dropped detached, then the customers
are not going to purchase enough commodities
produced by the enterprise. The notion can be
employed argumentatively, in the case of commodities
are not solicited.
The marketing theory is a business plan, which
affirms that the enterprise’s profit lies in
growing more efficient than the opponents, in
manufacturing, producing and imparting
exceptional consumer value to the target
marketplace.

Related to
Constraining customer’s perception of commodities and Leading commodities and services towards the
services. consumer’s perception.

Beginning point

Factory Marketplace

Concentrates on

Product Consumer needs

Perspective

Inside out Outside in

Business Planning

Short term Long term

Orientation

Volume Profit

Cost Price

Cost of Production Market ascertained