Professional Documents
Culture Documents
ANSWERED BY JAGADISH
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
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 .
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
future
h) future projects being taken up by the company in near future
Ans) components that are expected in a modern marketing information system is same as
above question
Ans) useful internal records should include as same as above question and below
question
Q7) what are the key methods for tracking and identifying opportunities in the macro
environment ?
Ans)
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
Q11) How can marketers assess their return on investment of marketing expenditures ?
Ans) marketers assess their ROI of marketing expenditure through various ways like
Q12) How can companies more accurately measure and forecast demand ?
Ans) The companies can accurately measure and forecast demand through different ways
Ans)
customer value : any value which creates satisfaction in a product by its consumption
either company or customers i.e B2B, B2C
companies can deliver customer value , satisfaction and create loyalty for their
products in different ways . they are
through
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
Ans) companies can cultivate strong customer relationships through ways like
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
Ans) database marketing is defined as anything which produces database for the products
for which marketing is designed
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.
the solution is
3 survey in newspapers and gift wraps attached on the following day for giving important
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
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
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
2) knowledge capital
Ans)
1) purchasing department
2) finance department
4) ceo, cfo , cmo , coo and board of directors if price of purchasing is beyond the hr
policy of above 3 departments
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
2) company gatherings
3) multi level marketing by respective employees of the company for the company he
represents
Ans)
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
1) company product
2) population sex
4) housing rent
Ans)
brand : it is defined as something which personifies the personality of the product of the
company it represents
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
d) brands help supply chain management making them both efficient and effective in
performance
Ans) it is how effectively and effficeintly brand can be monitored and used for answers
companies benefit
ROI = returns
----------------- * 100
investments
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
1) what changes have you obsessed in past brand in connection with revised brand
(VIBGYOR)
[1 to 5]
a) mass communication
b) service channel
c) distribution channel
d) market space
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)
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)
a) market share
b) repeated purchases of competitors products known through organised retailers
technology
c) supply chain management
d) communication channels
Ans)
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
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
Q47) what are the characteristics of products and how can they be 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
Q49) how can a company build and manage its products mix and product lines ?
Q50) how can companies use packaging, labelling , waranties and gaurantees as
marketing tools ?
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
Q55) How can goods producing companies improve customer support services ?
Q57) how should a company set prices initially for products or services ?
Q58) how should a company adapt price to meet varying circumstances and opportunities
?
Ans)
2) when demand for a product is high or low compared to supply of the product into
market
Ans) through
1) mass media
2) market space
3) networking
4) supply chain management
5) B2B, B2C, C2C
6) segmentation , targeting, positioning
7) branding
Ans)
Q77) how can companies evaluate and select specific foreign markets to enter ?
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
c) core competency of the area where branding is weak, to find out products that sell in
that location
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
?
competitive advantage can be defined as any benefit enjoyed by the company either
through cost advantage, focus or differentiation between company products or branding
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
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
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
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
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
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
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
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
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
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) 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
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
e) mobile commerce
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.
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.
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
trust : it is something which binds people together without arousing resentment while
working with each other
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
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
It can be seen that retail segment has come up with private labels in competition with
company products
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.