ASSIGNMENT

MARKETING MANAGEMENT
(MODEL QUESTION &ANSWERS )

Submitted To Submitted By
Mr. Girish S Pathy Gopika pradeep
Professor 1st year MBA
BRIM BRIM
Part A
1.Marketing Management
Marketing management is the organizational discipline which focuses on the practical
application of marketing orientation, techniques and methods inside enterprises and
organizations and on the management of a firm's marketing resources and activities.

2.Marketing Mix
The marketing mix refers to the set of actions, or tactics, that a company uses to
promote its brand or product in the market. The 4Ps make up a typical marketing mix - Price,
Product, Promotion and Place.
3.Difference between Industrial Market and consumer Market
The consumer market pertains to buyers who purchase goods and services for consumption
rather than resale.
Industrial Market: The industrial market is the set of all individuals and organizations that
acquire goods and services that enter into the production of other products or services that are
sold, rented, or supplied to others.
4.Consumerism
Consumerism is a social and economic order that encourages an acquisition of goods and
services in ever-increasing amounts.
5. Publicity
Publicity is the public visibility or awareness for any product, service or company. It may
also refer to the movement of information from its source to the general public, often but not
always via the media.
Part B
6.Product Life cycle
Product life-cycle management is the succession of strategies by business management
as a product goes through its life-cycle. The conditions in which a product is sold changes
over time and must be managed as it moves through its succession of stage.
Introduction Stage – This stage of the cycle could be the most expensive for a company
launching a new product. The size of the market for the product is small, which means sales
are low, although they will be increasing. On the other hand, the cost of things like research
and development, consumer testing, etc
Growth Stage – The growth stage is typically characterized by a strong growth in sales and
profits, and because the company can start to benefit from economies of scale in production,
the profit margins, as well as the overall amount of profit, will increase it.
Maturity Stage – During the maturity stage, the product is established and the aim for the
manufacturer is now to maintain the market share they have built up. This is probably the
most competitive time for most products and businesses need to invest wisely in any
marketing they undertake.
Decline Stage – Eventually, the market for a product will start to shrink, and this is what’s
known as the decline stage. This shrinkage could be due to the market becoming saturated.
7.Marketing information system
A marketing information system is a management information system designed to
support marketing decision making. Jobber defines it as a "system in which marketing data is
formally gathered, stored, analysed and distributed to managers in accordance with their
informational needs on a regular basis."
Components:
(1)Internal database is any collection of business data compiled using the internal networks.
Internal databases have data regarding information on market and consumer behaviour in an
electronic form.
(2) Marketing Intelligence System is a business analytics tool that analyses business data
obtained from various sources- Customers, Competitors, supply chain, stores etc. Market
Value.
(3) Marketing Research system is a systematic design ,collection ,analysis and reporting of
data and findings relevant to specific marketing situation facing the company.
8.Different pricing strategies
(1).Price skimming
Price skimming is typically associated with luxury items and only works if you have a
product or service that is highly valuable or perceived as highly valuable.
(2) Penetration pricing
Penetration pricing is the opposite of price skimming. Instead of going to market with a
high price, companies using a penetration pricing strategy have a low-priced solution in order
to capture as much market share as possible.
(3) Cost plus pricing
Cost plus pricing involves adding a mark up to the cost of goods and services to arrive at a
selling price. Under this approach, you add together the direct material cost, direct labour
cost, and overhead costs for a product, and add to it a mark up percentage in order to derive
the price of the product.

(4) Target pricing

Target pricing is the process of estimating a competitive price in the marketplace and
applying a firm's standard profit margin to that price in order to arrive at the maximum cost
that a new product .
(5) Price leadership/cost leadership
 cost leadership is establishing a competitive advantage by having the lowest cost of
operation in the industry. Cost leadership is often driven by company efficiency, size, scale,
scope and cumulative experience.
9.Segmentation Targeting Positioning (STP)
Segmentation:
Market segmentation is the process of dividing a market of potential customers into
groups, or segments, based on different characteristics. The segments created are composed
of consumers who will respond similarly to marketing strategies and who share traits such as
similar interests, needs.
For example, common characteristics of a market segment include interests, lifestyle, age,
gender, etc. Common examples of market segmentation include geographic, demographic,
psychographic, etc
Targeting
Targeting in marketing is a strategy that breaks a large market into smaller segments to
concentrate on a specific group of customers within that audience.
For example is Citibank, it offers different services on branch level based on
neighbourhood demographics. Walmart and Sears Store customizes its inventory and
promotion to meet the requirements of specific clients.
Positioning
Positioning refers to the place that a brand occupies in the minds of the customers and
how it is distinguished from the products of the competitors.
For example, a product may have a main target audience and also a secondary audience
that is also interested in the product, but perhaps in a different way.
10.Types of Channel intermediaries and their functions and activities
There are four main types of intermediary: agents, wholesalers, distributors, and retailers.
A firm may have as many intermediaries in its distribution channel as it chooses. It can even
have no intermediaries at all, if it practices direct marketing.
Agent
Agent is an independent entity that acts as the manufacturer’s representative for the
buyer. Agents have possession of the products without actually owning them. They work on
commission basis.
Wholesaler
Wholesalers purchase product in bulk and resell it. They own the products that they sell.
They usually sell these products to retailers at a profit.
Distributor
Distributors will carry these products to points of sale and they maintain very close
working relationships with suppliers and buyers.
Retailer
Retailer own the products that they stock. The retailer is usually the last link of the
supply chain, reaching products to the end consumer for a profit.
Functions:
(1) Transactional: This function involves adding value to the distribution channel by
bringing in the intermediary’s resources to establish market linkages and customer contacts.
The intermediary either directly undertakes the marketing and sales function or helps to
establish buyer-seller relationships by serving as a link between the manufacturer and the
retailer.
(2) Logistical: This function involves the physical distribution of goods. It involves sorting
and storing supplies at locations within the reach of the end customer.
(3) Facilitating: The facilitating functions include financially supporting the marketing chain
by investing in storage capabilities. They may include facilitating sales by helping the
consumer buy even when he or she does not have cash (through financing plans, purchase
agreements, etc.).
Activities
* They create value by adding efficiency to marketplaces for goods or services which
are inherently “many-to-many” in nature.
*consumer to contact every supplier directly in making and implementing a buying decision.
*Consumers need information about product features, cost, and availability in order to make
a buying decision. Intermediaries can add value by bringing this information together from a
variety of suppliers in a common format which enables quick comparison and decision-
making by consumers.
* Suppliers need information about demand, who wants what and where, in order to plan
production. Intermediaries can offer this information by virtue of their ability to view the
market as a whole.
Part c
11. Explain the factors that must be considered by firms for international entry
External factors :
1.Market size
Market size of the market is one of the key factors an international marketer has to keep in
mind when selecting an entry mode.
2. Market Growth
Therefore, the growth of markets in these countries is showing a declining trend. Therefore,
from the perspective of long-term growth, firms invest more resources in markets with high
growth potential.
3. Government Regulations
The selection of a market entry mode is to a great extent affected by the legislative
framework of the overseas market. The governments of most of the Gulf countries have made
it mandatory for foreign firms to have a local partner.
4.Level of Competition
Presence of competitors and their level of involvement in an overseas market is another
crucial factor in deciding on an entry mode so as to effectively respond to competitive market
forces. This is one of the major reasons behind auto companies setting up their operations in
India and other emerging markets so as to effectively respond to global competition.
5. Physical infrastructure
The level of development of physical infrastructure such as roads, railways,
telecommunications, financial institutions, and marketing channels is a pre-condition for a
company to commit more resources to an overseas market.
Internal factors:
1.Company objectives
Companies operating in domestic markets with limited aspirations generally enter
foreign markets as a result of a reactive approach to international marketing opportunities. In
such cases, companies receive unsolicited orders from acquaintances, firms, and relatives
based abroad, and they attempt to fulfil these export orders.
2. Availability of company resources
Venturing into international markets needs substantial commitment of financial and
human resources and therefore choice of an entry mode depends upon the financial strength
of a firm.
3.Level of Commitment
Companies need to evaluate various investment alternatives for allocating scarce
resources. However, the commitment of resources in a particular market also depends upon
the way the company is willing to perceive and respond to competitive forces.
4.International Experience
A company well exposed to the dynamics of the international marketing environment
would be at ease when making a decision regarding entering into international markets with a
highly intensive mode of entry such as Joint ventures and wholly owned subsidiaries.
5.Flexibility
Companies should also keep in mind exit barriers when entering international markets.
A market which presently appears attractive may not necessarily continue to be so, say over
the next 10 years. It could be due to changes in the political and legal structure, changes in
the customer preferences, emergence of new market segments, or changes in the competitive
intensity of the market.
12. Explain Buyer Behaviour, discuss about the factors that contribute buyer behaviour with
reference to consumer markets.
 Buyer/Consumer behaviour is the study of individuals, groups, or
organizations and all the activities associated with the purchase, use and disposal of goods
and services, including the consumer's emotional, mental and behavioural responses that
precede or follow these activities.
In other words, Buyer behaviour is the study of how an individual or a group of customers
select and analyse a product or service. It attempts to understand the decision making process
of a customer while selecting a product or service out of all the myriad alternatives available
in the market. Buyer Readiness Stages. Buyer behaviour is influenced by four major factors:
1) Cultural,
2] Social

3) Personal,
4) Psychological.
CULTURAL FACTORS
Culture is crucial when it comes to understanding the needs and behaviours of an
individual. Basically, culture is the part of every society and is the important cause of person
wants and behaviour. The influence of culture on buying behaviour varies from country to
country therefore marketers have to be very careful in analysing the culture of different
groups , regions or even countries.
PERSONAL FACTORS
*Age and way of life
A consumer does not buy the same products or services at 20 or 70 years . His lifestyle ,
values, environment, activities, hobbies and the consumer habits evolve throughout his life.
Age and life-cycle have potential impact on the consumer buying behaviour.
*Lifestyle
Life style of individual includes its activities, interests, values and opinions.
*Personality and self -concept
Personality is the set of traits and specific characteristics of each individual. It is the
product of the interaction of psychological and physiological characteristics of the individual
and results in constant behaviours. It materializes into some traits such as confidence,
sociability, autonomy, charisma, ambition, openness to others, shyness, curiosity,
adaptability, etc.
SOCIAL FACTORS
It includes groups (reference groups, aspirational groups and member groups), family,
roles and status. This explains outside influence of others on our purchase decisions either
directly or indirectly . Social factors are among the factors influence family is maybe the
most influencing
factor for an individual. It forms an
environment of socialization in which an
individual will enhacing consumer behaviour significantly.
*Family
family is maybe the most influencing factor for an individual. It forms an environment
of socialization in which an individual will evolve, shape his personality, acquire values.
*Social Roles and status
Social role is a set of attitudes and activities that an individual is supposed to have and do
according to his profession and his position at work.

PSYCHOLOGICAL FACTORS
In affecting our purchase decision includes motivation perception, learning, beliefs and
attitudes. Other people often influence a consumers purchase decision .The marketer needs to
know which people are involved in buying decision and what role each person plays, so that
marketing strategies can also be aimed at these people .it includes;
*Motivation
Motivation is what will drive consumers to develop a purchasing behaviour.it is the
expression of a need is which became pressing enough to lead the consumer to want to satisfy
it.
*Perception
Perception is the process through which an
individual selects, organizes and interprets the information he receives in order to do
something that makes one.
*Selective Attention
The individual focuses only on a few details or stimulus to which he is subjected.
*Selective Retention
Selective retention means what the individual will store and retain from a given situation or a
particular stimulus.

For a successful consumer oriented market service provider should work as

psychologist to procure consumers. By keeping in mind affecting factors things can be made
favourable and goal of consumer satisfaction can be achieved. Study of consumer buying
behaviour is gate way to success in market