MB0046-Marketing Management

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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. Suppose you are the marketing manager of a banking firm. Your bank has opened its first branch
overseas. What factor do you think will affect the choice of marketing the most and why?
Answer. Define environment scanning: Environmental scanning is one of the essential components of
the global environmental analysis. Environmental monitoring, environmental forecasting and
environmental assessment complete the global environmental analysis. The global environment refers
to the macro environment which comprises industries, markets, companies, clients and competitors.
Consequently, there exist corresponding analyses on the micro-level. Suppliers, customers and
competitors representing the micro environment of a company are analyzed within the industry
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.
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
value. Legal name for a brand is trademark and, when it identifies or represents a firm, it is called a
brand name. See also corporate identity.
Q3. Describe the international market entry strategies in brief.
Answer. International Market Entry Strategies
There are a variety of ways in which a company can enter a foreign market. No one market entry
strategy works for all international markets. Direct exporting may be the most appropriate strategy in
one market while in another you may need to set up a joint venture and in another you may well license
your manufacturing. There will be a number of factors that will influence your choice of strategy,
including, but not limited to, tariff rates, the degree of adaptation of your product required, marketing
and transportation costs. While these factors may well increase your costs it is expected the increase in
sales will offset these costs. The following
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.
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.
Process or steps in personal selling include the following:
1. Prospecting – This is the beginning of sales process, which covers searching for customers with
potential demand.
2. Targeting – This is the process of deciding
Q5. Describe 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.
When the buying team has agreed requirements, it prepares a detailed specification that sets out
quantities, performance and technical requirements for a product. Your sales team can support this
stage by advising the buying team on best practice or collaborating with the buying team to develop the
specification. Buying teams then use
Q6. Describe some of the strategies for effective marketing and advertising in rural market. Also
explain the innovative use of media in rural market.
Answer: The rural markets are estimated to be growing fatly compared to the urban markets. The
potentiality of rural markets is said to be like a 'woken up sleeping giant'. These facts are substantiated
in a study of market growth conducted by various researches. In recent years, rural markets have
acquired significance in country like India. On account of the green revolution in India, the rural areas
are consuming a large quantity of industrial and urban manufactured products
Rural marketing is a function that manages all activities involved in assessing, stimulating and converting
the purchasing power of rural consumers into an effective demand for specific products and services to
the people in rural areas to create
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