Marketing Management

December 2022 Examination

Q1. A company provides consultancy to all its clients on the Pricing of their products. M/s
Herbal Life sells various types of FMCG products in the urban market. They sell
toothpaste, multi-vitamin ayurvedic tablets, chia seeds, tulsi tea, herbal soap,
shampoo, etc. The company has asked you to present various types of Product Mix pricing
and price adjustment strategies so that it can help them in taking pricing decisions for their
range of products. (10 Marks)

Ans 1.
Introduction
A company provides pricing details to all clients. M/s Herbal Life features a series of Herbal
products in the urban market. We sell toothpaste, Ayurveda supplement tablet computers, chia
seeds, tulsi tea, natural soaps, shampoos, and other wellness and beauty products. Instead, try to
connect with them in something substantive fashion by publishing about topics that are important
to them or participating in discussions. Many products seem to be part of an extra comprehensive
product mix. They serve a details function in a product mix that might consist of various
products focused on various circumstances. Because of this, we need to position our prices
suitably. A combined product pricing approach addresses this. Basic pricing methods for
products in a product mix are defined for systems generated and the products taken all at once.

Discussion

The cost of the manufacturing line

Product line pricing is essential in product offerings pricing because companies typically grow
product lines rather than single products. A company develops a pricing approach between
multiple brand names in an assembly line based on cost inconsistencies between products,
competitor pricing, and, a lot of pressingly, the consumer's evaluation of the significance of
specific functionalities in product line pricing. Checking out Herbal, as an example, one can see
the link between the numerous products and their respective prices. Shampoo and toothpaste do
seem to be less expensive than Ayurvedic tablets. These valuations are carefully computed. It
would be best if you decided on the price action.

Optional product cost

Numerous possible choices and accessories are readily available together with the initial product.
When buying Organic products, as an example, we can very well order products with favorable
considerations and sophisticated products. Valuing these alternatives does seem to be hard for
this company. You must thoroughly consider which things are made up of the introductory price
and are optional. The profit margin of optional goods is the acquisition of optional and possibly
side products along with the primary product.

Pricing for Darband products

Bundled product price is over when a company develops a product that will be combined with its
primary product. On the other hand, pricing alternative products ought to consider products that
can be bought and sold together with the underlying product. Pricing instances consist of
toothpaste and shampoo. Packed pricing choices are an engaging technique in a set of mixed
product advertising and marketing strategies. Initial toothpaste and shampoo suppliers have weak
prices and regularly note the consumables required to make the original producer work.
However, companies that use this marketing mix pricing should work with severe caution. The
worry is to strike the right balance, specifically central and surrounding product prices.
Customers persuaded right into buying pricey products might resent the brand name that coerces
them.

Price of a byproduct

Byproduct pricing is searching for the lowest price to make the leading organization's assessment
extra affordable. These byproducts are costly and frequently pointless to eliminate. This elevates
the cost of critical products. Nevertheless, by using byproduct pricing, the company intends to
find a consumer base for these byproducts to balance out the expenses of disposal while
additionally making the price of its produced assets much more competitive.
The product's package price

Product package pricing is the final product mix pricing strategy. Companies that use product
bundle pricing incorporate different products to provide a discounted package. Organic products
that can be decided to sell in a package with all products readily available at economical pricing
are a good example. Product package pricing is the company's most excellent product mix
pricing structure. This enables you to advertise items and services that consumers would not or
seldom acquire. Nonetheless, the combined price must constantly be reduced sufficiently to lure
consumers into purchasing multipacks rather than individual products.

Conclusion

When a product is a part of a total mix, pricing becomes substantially extra complicated. This is
because all goods and their price variations belong. We are definitely on the right track with
every one of these maker mix pricing techniques. A service's pricing structure considerably
influences its development and survival, good fortune and success, and company reputation. As a
result, the valuation ought to be considered because it dramatically affects the remainder of the
company's procedures. Our pricing approach is the foundation of our revenue-sharing strategy.
Price modifications can benefit all areas of the company, and as those facets modify, so should
our prices. Because it aids in establishing the well-worth of having a good product and the
energy of its use to customers, pricing is vital. Consumers can inform if it's worth their time and
money based on the price.
Q2. Elaborate on various types of promotion mix that you will use for the Herbal Life
products (as explained in the first question). The main idea behind the promotion is that it
should become a household product like Patanjali or Dabur. (10 Marks)

Ans 2.
Introduction
Over the last decade, the Ayurvedic market has grown drastically, and sales of entirely natural
supplements have steadily boosted. With a significant rise in overall natural medical product
sales, the variety of typical herbal medical suppliers has expanded. If you plan for your
Ayurvedic merchandise to stand apart online, you must have a consistent Natural organic
advertising method. The method means to include a variety of digital circulation channels.
Internet marketing can be used to successfully market Ayurvedic items, as several standard
organic medicinal companies reach prospective clients through online sales. The web has
become an essential technique for advertising and marketing Ayurvedic and natural services and
products. According to international analysts, Western markets also carry out the best methods
for natural products. Ayurveda comes from India. However, it is more of a manner of life than a
treatment. In the Western market, Ayurveda began to establish techniques that were an excellent
means of affecting mental, emotional, physical, and spiritual well-being.

Discussion

Make a website

You should have a website to accomplish the very best Ayurvedic web visibility. A website is
also the "face" of what you generate income from online. You can utilize a website to promote
your items and services on social networking websites.

Designed with mobile in mind

Businesses and online platforms that have not been mobile-optimized are shedding business
because handheld gadgets are the leading system for internet application consumers. Maintain
mobile in mind when constructing your website and establishing what affects your SEO method.

Business listing
Guarantee your staff member, workplace, or center is listed in a business directory site such as
Bing Venture, Google Entrepreneurialism, or an additional. Thing creation is constantly free
with the Search results page and Bing Enterprise. If a person's financial plan is tight, people can,
without a doubt, think about a subscription fee listing to raise brand recognition. Do not be
reluctant to call us if you are not familiar with organizational checklists.

Beginning of the appropriate newsletter

Some information is constantly handy when advertising items and building an online reputation.
You can always share the most current updates and news with your dedicated clients via a
prominent e-mail newsletter. You can educate them on the most current deals pertinent to their
course. Sending out daily e-mails makes it more pleasurable once you've formed a relationship
with its clients.

Network advertisement

Internet marketing is likely the best advertising preparation for Ayurveda businesses thinking
about associated items. We are looking to produce a beneficial brand name for one of our buyers
recognized as 'Bestveda' via content advertising and marketing procedures and online advertising
platforms such as Google Ads, which has substantially affected sales of Ayurveda services and
products. That caused a profit for me.

Search engine optimization examination

If it does not have vital Search engine optimization components, a good website will likewise not
rank in Google search results. Constantly opt for a seasoned SEO company that supports
technological search engine optimization. We serve purchasers in the Ayurveda business as a
digital advertising and marketing business in Mumbai based on the prominent ranking in results
on search engines via organic search engine optimization. Carrying out an insufficient search
engine optimization method might result in Google penalizing your website. This can seriously
damage your online visibility and company profile.

Participant in social media

No matter the favorable ROI, social media is less expensive than traditional advertising and
marketing. Ayurvedic firms usually market organic products on the internet. Engage your
pleased customers by sharing an insightful and fantastic plotline, a special sale, or other material
that may pique their interest.

The advertisement's main idea is that it ought to be a household home element like Patanjali or
Dabur. The role of marketing inside this advertising mix is to concentrate on the right customers
to elevate our items' brand name and business capability.

Conclusion

In conclusion, advertising and marketing are critical to running and expanding a business
successfully. By doing this, the firm adds to market demand and boosts our sales. Somebody's
advertising mix should have been designed to show your target market the benefits, functions,
and value of your offering of services or items. This requires you to stick out from the
competitors and increase your revenues. Choose the best mix of paid and unsettled ads. It may
not represent the advertising campaigns of different firms, yet the efficient technique for
Ayurvedic empires is to be organic, particularly concerning paid projects. Advertising is one of
the essential components of the advertising and marketing mix. It includes attempting to reach
big audiences through numerous media, enhancing brand understanding, assisting in promoting
special offers, and growing commitment amongst consumers.

Q3a. Mr. Raj is planning to purchase a new phone with the latest features. Explain various
steps involved for Raj in the decision process. (5 Marks)

Ans 3a.
Introduction
Mr. Raj intends to acquire a new phone with one of the most current features. Numerous phones
are readily available from different brand names at different price factors, each aimed at various
demographics. The researcher will go over all of the critical attributes Raj needs to be aware of
and stroll him through a detailed treatment that will lower his options to just a couple of, making
his purchase choice far more obtainable.
Discussion

Purchasing a new cellphone can be challenging, especially if you are unfamiliar with the
technology. First, allow's get the big based on the evaluation performed out of the way: deciding
on which operating system to make use of. Both most prevalent os for phones are Android and
iOS, and his choice will dramatically impact which phone he acquisitions. Also, before
comparing iOS and Android, everything depends on individual preference; protection, reduced
use, and the manufacturer's update cycle. We at Android Authority like Google's os, though
researchers admit iOS has its benefits. As a whole, iOS is an excellent operating system for
comfy use.

In contrast, Android appears to be the best if he wants more customizability and range in his
buying options. Apple's iOS provides a basic, minimal, and straightforward experience with the
benefit of prompt and fast safety patches while using the best affiliation with Apple's other
devices, including Macs and iPads. Additionally, iOS tools are generally sustained for major
automatic updates for around six years, which is much above what most Handset makers
provide; despite adding widgets and traditional icons, iOS's customizability delays far below that
of Android. Raj's equipment alternatives are additionally limited. Because iOS is only
conveniently accessible on the apple iPhone, he is restricted to picking from what Apple has
available at the time. Ideas get a great deal even more thrilling when it concerns Android. He'll
be able to pick from a broader range of tools at a much more extensive rate with Android. This
indicates he can acquire a gadget that fulfills his needs without spending extra money on
something that will not be useful in his situation. Initially, please do not allow the specs to trick
him; they don't always bode well for future camera quality. Several significant firms have tools
with high megapixel certified sensors on their smaller phones, yet this does not imply improved
photo top quality-- the source code that lags the picture sensing unit is perhaps as vital, otherwise
more, than the hardware.

Conclusion
Finally, considering Apple's iPhone 13 collections is best for him as the iPhone 13 Pro has three
12MP sensors. Compared to Google's Pixel 6 phones, which feature a 50MP main transmitter,
the iPhone maintains picture quality and sharpness.

Q3b. Global Stock is an online app for the purchase of international stocks from the
international market. Explain and elaborate any five ways through which you will promote
the app online. (5 Marks)

Ans 3b.
Introduction
Global Stock is an application system that allows you to acquire portfolio allowance from
worldwide markets. There are numerous methods for advertising your app online. The App Store
presently has more than 35 million apps, and the Google Play Store has more than 2.9 million
apps. These figures are incredible, and they are growing day by day. If you think app customers
will instantly pack up and relocate to our app, assume too because competition is fierce.

Discussion

Website

The program requires online participation. People intend to understand that our program is
genuine and that we are dedicated to it as an organization. The app must be displayed throughout
the website for company brands rather than as an afterthought or as a small logo, generally in the
footer. Instead, make your existence understood in any place it makes good sense.

Social Network

App promotion requires using social media. You can enhance customer involvement in two
methods: required to pay organic and social. Organic social media advertising is a simple kind of
mere existence. For instance, a Facebook page, a Twitter account, or an Instagram account. Set
up an account and begin complying with individuals in your marketplace and your target market.
Stay clear of over-promotion or spamming your audience. Instead, attempt to construct
significant partnerships effectively while also publishing about topics that are very important to
them and taking part in the discussion.

Public relations

They say there is no such point as unfavorable press if we are not covered. Recommendations
from the media or top-level individuals are critical in creating buzz and credibility. Consider
press releases, host a promotional event, welcome national papers and tech influencers, interview
newspapers and developer blog writers, visitor blog writing, and so on.

ASO

App Store Optimization (ASO) is search engine optimization for the mobile internet browser
world. This is crucial for being discovered in acquiring goods and solutions. If you plan to
accomplish excellent ASO, give importance to your program name, keywords, and summary.

Search ads

Apple introduced search ads and ads in the App Store. But, you can offer suitable vital phrases
for your app to show up initially when users are looking for it using particular terms.

Conclusion

Recognizing our rivals is a substantial advantage of mobile app marketing. It is a highly

influential aspect of any company. We can enhance exposure, preserve connections, develop
two-way communication between consumers, create a responses discussion forum, and boost our
organization's assumption and track record. App advertising and marketing likewise notify us
concerning our competitors and how to produce reliable retention plans.