Winter-2015 Get solved assignments at nominal price of Rs.125 each. Mail us at: [email protected] or contact at 09882243490 Master of Business Administration - MBA Semester 2 MB0046-Marketing Management-4 Credits (Book ID: B1629) Assignment (60 Marks) Note: Answer all questions within 400 words each. Each Question carries 10 marks 6 X 10=60 Q1. Explain the steps in Business Buying process.  Characteristics of Organisational Buyer  Steps in business buying process Answer. Organizational buyers come in several forms. Resellers involve either wholesalers or retailers that buy from one organization and resell to some other entity. For example, large grocery chains sometimes buy products directly from the manufacturer and resell them to end-consumers. Wholesalers may sell to retailers who in turn sell to consumers. Producers also buy products from submanufacturers to create a finished product. For example, rather than manufacturing the parts themselves Q2. A brand is a composite set of beliefs and associations in the mind of consumers. In brand development, as a part of branding strategy decision, the brand manager can decide to create new brand elements for the new products, apply some of the existing brand elements to the new product, or use a combination of existing and new brand elements to the existing and new products. Explain the different branding strategies used by the companies for their range of products.  Definition of Brand  Advantages of Brand  Explanation of different branding strategies adopted by companies Answer. Definition of Brand Unique design, sign, symbol, words, or a combination of these, employed in creating an image that identifies a product and differentiates it from its competitors. Over time, this image becomes associated with a level of credibility, quality, and satisfaction in the consumer's mind (see positioning). Thus brands help harried consumers in crowded and complex marketplace, by standing for certain benefits and Q3. Explain the classification of market based on nature of Competition and area.  Definition of market  Classification of market based on nature of Competition and area Answer. Definition of Market: Market is a medium that allows buyers and sellers of a specific good or service to interact in order to facilitate an exchange. The price that individuals pay during the transaction may be determined by a number of factors, but price is often determined by the forces of supply and demand. Thus, market may be defined as a set of consumers, potential consumers, past consumers, sellers, Q4. Personal selling focuses in on ‘personal’ or ‘one to one’ selling. It involves an individual salesman or a sales team establishing and building a profitable relationship with customers over a period of time through a series of steps. Explain the steps in the personal selling process which helps in the successful sales.  Definition of Personal Selling  Explanation of steps in the Personal selling process Answer. Definition of Personal Selling: Personal selling is an activity which involves a face-to-face interaction with the customers wherein there is a quick response and personal confrontation. This allows for more specific adjustment of the message. Here, the communication message can be adjusted as per the customer’s specific needs or wants. It offers you the opportunity to develop long-term familiarity and relationship. Q5. Describe the stages in consumer decision making process.  Explanation of the stages in consumer decision making process Answer. Awareness The process begins when a company identifies a need for a purchase. It may want to replace an existing item, replenish stocks or buy a new product that is just available on the market. You can also stimulate a need that the company may not be aware of by advising them of issues and challenges that other companies in their industry face. The buying team next works with the requesting department to firm up on the requirement. Q6. Do you think the argument of some theorists that the traditional Ps are not enough for services marketing? Give suitable examples to prove your point.  Define Service Marketing  Explanation of 4p’s  Explanation of Additional 3 p’s Answer. Service marketing constitutes a strategic area, which has propelled growth and success for many organisations. Pure services and products are hypothetical extremes as every product today is associated with some level of service.  itself. Winter-2015 Get solved assignments at nominal price of Rs.125 each. Mail us at: [email protected] or contact at 09882243490