Q .1 Explain Marketing and Its Function Q.2Explain the Component of MIS.

Ans - Marketing is the process of analysing, creating, and providing value to meet the needs ANS - MIS is made of parts, subparts or subsystems which are called the components.
of a target market in terms of goods and services; potentially including a selection of a target Typically, according to Philip Kotler, a marketing information system consists of four
audience. These functions are useful to conduct marketing activities on a large scale and are interrelated components – Internal Reports (Records) System, Marketing Research System,
called part of the marketing process. For instance, transportation, warehousing, packaging, Marketing Intelligence System, and Marketing Decision Support System, as shown in
advertising, branding, etc. Figure.

Functions -

1.Marketing research is a process of collecting information about the consumers, the

competitors, etc. it collects information about the consumer’s likes, dislikes, tastes
preferences, and buying habits It also collects information about the competitor’s product
price, etc. Then it studies all this information very carefully helps the company to solve
Marketing Problems.

2.Advertising: The objective of advertising is to create awareness of the products. And now-
s-days advertising is assumed to be one of the most effective ways of promoting goods and
services. Advertising helps businesses to create a brand image in the market. 1.Internal Records System: Internal records system is a major and easily accessible source
of information. It provides the results data. It includes all records of marketing operations
3.After Sales service: To promote corporate images, businesses must provide effective after- which will be available within organisation. This system concerns with collecting, analysing,
sale-service. nowadays customers expect additional services so if possible, firms must interpreting, and distributing required information from records of various departments of the
provide to their customers building corporate images and loyalty in a competitive market. company

4.Sales Promotion: Sales promotion involves various tools to influence the customers to buy 2. Marketing Intelligence System: While internal report system concerns with information
the products. The sales promotion tools include Buy-back offers, Coupons or cash vouchers, available from internal records of organisation, the marketing intelligence system supplies the
Discounts Exchange Offers, Free samples, Free Gifts, etc. so Sales promotion is an important managers with happening data. It provides information about external happenings or external
element. environment. While internal report system concerns with information available from internal
records of organisation, the marketing intelligence system provides the managers with
5.Physical Distribution: It is an important function of marketing to make available products occurrence or current data.
at customers’ convenient places and on time. It includes the place of distribution and the
channels used for the distribution of firms’ products. For this objective, the marketer can 3. Marketing Research System: Marketing research is a very strong and separate branch of
select either the direct or indirect channel to reach the products to the buyers. the MIS. It is a formal study of specific problems, opportunities, or situations. Normally, it is
carried out for solving the specific problem. In this sense, it is not a part of routine activity. It
6.Customer Relationship Management: CRM is concerned with managing detailed collects need-based information. Nowadays, it is treated as the separate discipline or subject.
information about customers. The purpose of CRM is to improve customer loyalty Therefore,
firms must place focus on Most Valued Customers. 4. Marketing Decision Support System (MDSS): Previously, the element was known as
Analytical Marketing System. While former three components supply data, the marketing
7.MIS Management: MIS is a marketing information system. A systematic MIS helps decision support system concerns more with processing or analysing available data. This
business firms to gather and analyse. and distribute accurate information to marketing component can improve efficiency and utility of the whole marketing information system.
decision-makers.
5.Use of Latest Techniques: MIS makes use of latest techniques such as sophisticated
8.Packaging: Packaging includes designing the package, producing the package, and actual computers, micro-films etc. The sophisticated tools and techniques enable the MIS staff to
packing of goods. Packaging plays an essential role in marketing. It gives protection and collect, store and process meaningful information, which can be transmitted to marketing
identification to the goods. It is also convenient for handling the goods, paper bags, plastic managers to make effective decisions.
covers, glass bottles, tin containers, etc. are used for packing the goods.
6. Unified and Centralised System: There are several information components (internal
9.Branding: In branding, a specific name, sign, or symbol is given to the product for its easy records, marketing research, etc.) in every MIS. Also, there are several activities in each
and quick marketing. for instance, iPhone, Samsung, Bata, Reliance, etc. Branding is an component - collection of data, processing, storing and transmission.
essential marketing function and also promotes sales.

Q. 3 Explain Factors that influence Consumer Behaviour. Q.4 Explain various bases for Market Segmentation.
Ans - Consumer behaviour is affected by several factors, which are explained as follows:
A. Marketing Factors: ANS - the various bases used for segmenting consumer market are as follow
B. Personal Factors
C. Psychological Factors: A.Geographic Segmentation - In this Segmentation the market is sub divided on basis of area
D. Social Factors:
E. Economic Factors: 1.Nation - Exporters may segment the markets on the basis of countries. For example: Asian markets,
North American markets, Western European markets, African markets, etc.
A. Marketing Factors:
1. Product: The features of the product, packaging and so on. Pricing: Premium pricing strategy may 2.Region: Regional segmentation is undertaken because of differences in buying behaviour of
appeal to upper income groups and value pricing may appeal to price sensitive customers. customers belonging to different regions. For example, customers from western India may prefer
2. Promotion: The elements of promotion-mix include publicity.
lighter shades of clothes, whereas, southern India customers may prefer darker and brighter shades.
3. advertising: sales promotion, salesmanship and so on.
4. Place: The type of channels, area coverage and so on.
B.DEMOGRAPHIC SEGMENTATION - Demography refers to study about the different aspects
of population. Markets can be divided on demographic factors like age, gender, education etc. The
B. Personal Factors:
various demographic factors are:
1. Age Factor: The age factor influences buying behaviour. For instance, teenagers may prefer trendy
clothes, whereas office- executives may prefer sober and formal clothing.
2. Gender: The consumer behaviour varies across gender. For instance, girls may prefer certain 1.Age: The markets can be segmented by age groups, such as children, youth, middle-aged and senior
feminine colours such as pink and purple whereas; boys may go for blue and brown. citizens.
3. Education: Highly educated persons may spend on books and personal care products, whereas a
person with low education may spend less on such products 2.Income: Income level greatly influences buying behaviour of consumers. For instance, upper
4.Income Level - normally higher the income level, level of spending. income group customers may prefer premium brands, whereas, middle income group customers may
go for popular brands.
C. Psychological Factors:
1.Motivation: When a person is motivated enough, it affects a person's buying behaviour. A person C.SOCIOGRAPHIC SEGMENTATION - The market can be segmented on the basis of
has many needs such as social needs, basic needs, security needs, dignity needs and self-real needs. sociological factors such as:
2. Perception: Consumer perception is a major factor that affects consumer behaviour. Consumer
retention is the process by which a customer gathers information about a product and interprets the 1.Culture: The marketer may consider cultural influences while segmenting markets. For instance,
information to create meaningful images about a particular product. youth in urban areas are influenced to a certain extent by western culture, whereas, youth in villages
3. Learning: When a person buys a product, he / she gets to learn more about the product. Learning follow more or less traditional culture.
from experience comes over time. Consumer education depends on skills and knowledge. While a
skill can be acquired through practice, knowledge can only be acquired through experience. 2. Reference Groups: A reference group may be defined as a group of people who influence a
person's values, attitudes and behaviour Consumer behaviour can be influenced by the reference
D. Social Factors: groups like friends circle, club members, etc.
1.Family: The family plays an important role in shaping a person's buying behaviour. When a person
buys family products, he develops preferences from an early age and keeps buying the same products D.PSYCHOGRAPHIC SEGMENTATION - It refers to individual aspects like life style and
even when he grows up. personality.
2. Reference Groups: A reference group is a group of people to whom a person associates himself.
In general, buying behaviour are common to all people in the reference group and they affect each 1. Life-Style: Sellers study the life-styles of the consumers. For example, a manufacturer of
other. readymade garments may design the clothes differently matching different life styles of college-
3. Cultural factors - A group of people is associated with a set of values and ideologies that belong students (more fashionable), office-goers (more sober) and so on
to a particular community. When a person comes from a particular community, his / her behaviour is
influenced by the culture. 2. Personality: Personality characteristics such as leadership, independence, masculine, impulsive,
ambitious, etc., do influence buying behaviour
E. Economic Factors:
1.Personal Income: When a person's disposable income is high, purchasing power increases at the
E.EHAVIOURAL SEGMENTATION - In this case, buyers are divided into groups on the basis of
same time.
their response to the product - usage rate, user status, loyalty status buying motives and so on.
2. Family Income: Family income is the total income of all family members. When more people in
the family earn, more income is available to buy necessities and luxuries.
3. Savings: How much a customer wants to save from his income has a huge impact. If the customer 1. User Status: Market can be segmented on the basis of user status such as: non-user, ex-user,
decides to save more, the cost of purchase decreases. potential user, first-time user, regular- user and so on.

2. Buying Motives: Buyers buy the product with different buying motives such as pride, convenience,
fear, etc. Accordingly promotional appeals can be directed to the target audience.
Q 5. What is Data Mining? Discuss its significance in marketing. Q.6 Important of marketing MIX.

ANS – Meaning of data mining – Meaning OF MIX - According to Borden, “The marketing mix refers to the appointment of
efforts, the combination, the designing and the integration of the elements of marketing into a
Investopedia states Data mining is a process used by companies to turn raw data into useful programme or mix which, on the basis of an appraisal of the market forces will best achieve
information. an enterprise at a given time”. According to Stanton, “Marketing mix is the term used to
describe the combination of the four inputs which constitute the core of a company’s
Britannica.com states "Data mining, (also called knowledge discovery in databases, in marketing system-the product, the price structure, the promotional activities and the
computer science), the process of discovering interesting and useful patterns and relationships distribution system.”
in large volumes of data."
Importance -
Doug Alexander of the University of Texas defines data mining as "computer-assisted
process of digging through and analysing enormous sets of data and then extracting the 1) It helps in a clean mix creation - Your marketing mix should have all the P’s compatible
meaning of data". with each other. The price should be compatible with the placement of the product. The
product should be compatible with the promotions. In general, all the Ps are intrinsically
Significance / importance - linked to each other.

1. Consumer Behaviour - Data mining helps to understand consumer behaviour. For 2) Marketing mix helps in New product development - While designing an existing
instance, the retail giant Wal-Mart transmits all its relevant information to a data warehouse product, there are any number of ideas which can come up for a related product that can be
with terabytes of data designed by the company. The pricing, place and promotions might be different for such a
product. Nonetheless, it can be classified as a new product and hence while designing the
2. Corporate Image:Due to data mining, the image of the firm gets enhanced. Loyal marketing mix, the company can come up with good ideas for NPD as well.
customers become evangelists. The evangelists spread a good word about the company and
its products. This enables a firm to get additional customers to its fold. 3) Marketing mix helps increase the product portfolio - Whenever you want to increase
the product depth or product line and length, you have to make minor changes to the product.
3. Customized Market Offering: Companies can customize a product or service depending In essence, you are making minor changes in the marketing mix itself. You are making
upon the data available with the firm. Data Mining enables a firm to interact with its changes to the product features, to its pricing and possible to its promotions. As a result, by
customers through the company contact center and Web site. Such interaction enables the altering the marketing mix and certain features within it, you can end up with an
firm to know individual customer requirements and accordingly design customised products. enlarged product portfolio.

4) It is a guide to improve a business - Physical evidence was an important P in the service

4. Lower Operating Cost: Data Mining enables business firms to lower operating costs. It is
marketing mix. If a restaurant or an interior design business realises its important, then
said that a 2 per cent increase in customer retention has the same effect as reducing costs by
naturally they can act on it and improve the physical evidence of their business thereby
10%. Retained customers require less of persuasion through advertising, publicity,
bringing in more business.
salesmanship, and so on.
5) It helps in differentiation - When you analyse the marketing mix of Competitors, there
5. Higher Customer Equity: The main aim of Data Mining is to produce high customer are many different ways that you can differentiate yourself from the competitor. The
equity. Customer equity is the sum of lifetime values of all customers. Firms focus the competitor might have poor promotions and by analysing them, you can create better
marketing efforts more on the most valuable customers (MVCs). More focus on MVCs promotions of your own product.
enables a firm to increase customer equity.
6) Finally, it helps you in being dynamic - A company which is well prepared is also
6. Lower Customer Defection: Data Mining emphasizes on training and development of prepared when disaster strikes. During recession or during a poor business environment, a
employees to become more customer oriented. Due to Data Mining training and company should be ready to respond. At such times, the company needs to be dynamic in
development, employees show care and concern towards the valuable customers. Therefore, nature. Such a company needs to understand its product, processes, people, promotions, and
the customer defection rate may be very less. all other P’s better. If it understands them, it will respond with a better agility.

Q.7 What is marketing & discuss its scope Q.8 Explain various factors influencing Pricing.

Meaning of Marketing - Marketing is a vital functional area of a business ANS - Price is an important element of marketing mix. It is the exchange value
organisation. The success of a business organisation largely depends on the of the product. Pricing of the product depends on several factors. The factors
performance of marketing department. Marketing is instrumental to create influencing pricing can be broadly divided into two groups
demand for the firm's products. Apart from creating demand, effective
marketing generates customer satisfaction, enhances corporate image, enables External Factor
the firm to gain competitive advantage, maintains customer relationship,
develops brand image, enhances brand equity, sustains brand loyalty, facilitates 1. Costs: A firm while fixing prices should consider the costs for producing the
business expansion, and so on. product. In case of several products, costs constitute a large part of the price.
The firm must plan to recover both the variable costs and the fixed costs.
SCOPE –
2. Corporate Image: The firms enjoying a good image in the market may
1.Study of Consumer Wants and Needs - Goods are produced to satisfy charge a higher price, as compared to those firms which do not enjoy reputation
consumer wants. Therefore study is done to identify consumer needs and wants. in the market. This is because; consumers have trust and confidence in the firms
These needs and wants motivates consumer to purchase. enjoying name and reputation in the market. For instance, firms like P&G, and
HUL, can command a higher price for their brands, as they enjoy goodwill in
2.Study of Consumer behavior - A marketer performs study of consumer the market.
behavior. Analysis of buyer behavior helps marketer in market segmentation
and targeting. 3. Objectives of the Firm: The marketer must consider the objectives of the
firm, while fixing prices. Price of products is directly related to objectives of the
3.Production planning and development - Product planning and development firm. For instance, if the objective of a firm is to increase return on investment,
starts with the generation of product idea and ends with the product then it may charge a higher price
development and commercialization. Product planning includes everything from
branding and packaging to product line expansion and contraction. Internal Factor

4.Pricing Policies -Marketer has to determine pricing policies for their 1.Competition - The marketer has to consider the degree of competition in the
products. Pricing policies differs form product to product. It depends on the market. When there is high competition, prices may be lower, and vice-versa.
level of competition, product life cycle, marketing goals and objectives, etc. The price of competing brands, as well as those of substitutes must be
considered while fixing prices. Normally, the price must be within the range of
5.Distribution - Study of distribution channel is important in marketing. For that of the competitors.
maximum sales and profit goods are required to be distributed to the maximum
consumers at minimum cost. 2. Consumers: The marketer should consider various consumer factors while
fixing prices. The consumer factors that must be considered include the price
6.Promotion -Promotion includes personal selling, sales promotion, and sensitiveness of buyers, purchasing power, buying pattern, and so on.
advertising. Right promotion mix is crucial in accomplishment of marketing
goals. 3. Demand: Price of goods to a great extent depends upon demand. For
instance, an increase in demand may lead to an increase in price, even though
7.Consumer Satisfaction - The product or service offered must satisfy there may be no rise in costs. Demand may increase due to economic conditions
consumer. Consumer satisfaction is the major objective of marketing. in the market, problems with the supplies of competitors, and so on.

8.Marketing Control - Marketing audit is done to control the marketing

activities.
Q.9 Explain Product Positioning and its Strategies. Q.10 Explain Brand Equity and the factors that influence Brand Equity.

ANS - The marketer can adopt different positioning strategies in order to ANS -
develop or reinforce a particular image of the brand in the mind of the target
Meaning of brand Equity - Every brand has a value, and the value of a brand is brand
audience. The various positioning strategies are below : equity. Brand equity must not be confused with brand personality or image.

1. Product Features: The most popular positioning strategy is to highlight Edward Tauber defines brand equity as "The incremental value of a business above the
specific product features that would benefit the customer. At times, a new value of its physical assets due to the market position achieved by its brand and the extension
product can be positioned with respect to product features that competitors have potential of the brand.
ignored. It would be advisable to highlight a specific but important feature
rather than positioning along several features. " David Aaker defines "a set of brand assets and liabilities linked to a brand, its name and
symbol, that add to or subtract from the value pr customers." product or service to a firm
and/or to that firms.
2. Price and Quality: In many product categories, the price-quality feature is so
important that it needs to be considered in any positioning decision. The The below factors that influence Brand Equity
advertiser may position the product as quality product that is worth the money
(Good Quality Costs a Little More) . 1. Brand Loyalty: Customer's brand loyalty is the vital base of a brand's equity. It is true that
it is expensive to gain new customers and relatively inexpensive to keep existing ones -
3.Positioning by Product Class: Some marketers highlight the product-class provided the existing customers are satisfied with the brand. Satisfaction of customers results
association. The toilet soap Dove positioned itself apart from the soap category in brand loyalty. Satisfied customers continue to use the brand.
as a cleansing cream for women with dry skin. 2.. Brand Name Awareness: Brand awareness is the ability of a potential buyer to recognise
or recall that a brand belongs to a certain product category. In other words, it is a process of
4. Positioning by Use: The brand can be positioned by associating it with the linking product class and brand.
use o application of the product. For instance, "The sheer driving pleasure"-
BMW or 3Perceived Quality of the Brand: Perceived quality is the customer's perception of the
overall quality or superiority of a product as compared to other competing brands.
5.Positioning by User Category: The brand may be associated with a user or a
4. Brand Associations: A brand association is anything "linked" to a brand. The underlying
class of users. The marketer makes use of famous personalities or models to value of a brand name often is based upon associations linked to it. Like perceived quality,
influence the audience. For example the "Beauty Soap of Film Stars" - Lux brand associations do influence purchase decisions and brand loyalty.
Soap of HUL.
5. After-sale-service: The after sale-sale-service provided by the company can make a
6.Positioning by Competitor: In some cases, a reference may be made directly difference in brand equity. Nowadays, most of the durable products are standardised.
or indirectly to one or more competitors. Perhaps the most famous positioning Therefore, the competitive difference can be the after-sale-service.
strategy of this type was that of Avis "We're only number 2. We try harder." 6.Brand Ambassadors: Some marketing experts claim that brand ambassadors enhance
brand equity. For instance, the Lux soap is associated with female film stars and positioned as
7. Positioning by Cultural Symbols/Names: Some marketers may use cultural the beauty soap of film stars.
symbols to differentiate their brands from competitors. For example, Marlboro
cigarettes used the American cowboy. 7. Brand Patent: Companies can obtain brand patents for new and innovative products. They
need to register under the Patent Act of respective countries where they want to patent it. For
instance in India products may be registered under Patent (Amendment) Act 2005 .
8. Positioning by Corporate Image: The most common base for positioning is
corporate image. Some of the products or brands use their corporate names to 8.Brand Logo: Brand logo can enhance brand equity. The brand logo like brand names
position themselves. Product ranging from health care and cosmetics to facilitates instant identity of the brand. Some of the brands that have unique logo include
consumer durables and computers use this type of positioning. Apple, Nike, McDonalds, Mercedes, Audi (4 rings), Reebok, Pepsi, and so on .

Q.11 Explain Packaging and It Essentially. Q.12 what is branding? Discuss its components.

ANS – Meaning of Packaging - The terms Packaging and Packing are used ANS – Meaning of branding - Branding is important because not only is it
inter changeably. However there is a difference between the two terms. Packing what makes a memorable impression on consumers, but it allows your
refers to protective covering used for transportation of goods, whereas, customers and clients to know what to expect from your company. It is a way of
Packaging refers to the containers in which products reach to the ultimate distinguishing yourself from the competitors and clarifying what it is you offer
consumer. Packaging can also be referred as a process of developing and that makes you the better choice. Your brand is built to be a true representation
designing packages. of who you are as a business, and how you wish to be perceived.

Packaging Essentially Are below. Components of branding-

1. Suitability: A good package must be suitable to the product. For instance, 1. Brand Personality: Almost all brands have brand personality. Marketers
medicines must preferably come in glass bottles and not in plastic bottles. must make an attempt to personify the brand with personality traits. For
Again, glassware should be packed with cushioning material. instance, Taj Hotels are personified as a young hospitable female belonging to
upper class; and fond of gastronomy (the art of cooking and serving good food),
2.Attractive: Packages must be attractive. They should attract the attention of music and entertainment.
the prospects or buyers and make them to buy the product. It should have the
advertising value. 2. Brand Functions: Every brand performs certain functions. For instance, a
tourist hotel performs the functions of rest, relaxation and enjoyment of good
3.Buyer's Specifications: Packing should also conform to buyer's
food and ambience. Therefore, a tourist hotel is rated on several parameters
specifications. If buyer has ordered special type of packing, then such
such as the quality of bed and bedding (sleep quality), cleanliness, service,
instructions must be followed in designing and producing packages.
location, value, and quality of rooms.
4.Convenience to Customers: Packages should offer convenience in the case
of carrying, handling and using the product. They must come in convenient 3. Brand Benefits: A brand needs to offer tangible and psychological benefits
sizes and shapes as per the requirements of the customers. to the customers. For instance, a luxury car must provide tangible benefits such
as good interiors, elegant seating arrangement, good engine, and at the same
5.Convenience to Dealers: The dealers must not find difficulty in storing the time psychological benefits such as good looks, status to owners, and sheer joy
products. The packages should not be unnecessarily bulky so as to avoid the of driving.
wastage of space on the shelves or racks.
4.Brand Image: Brand image is the perception of brand in the minds of
6.Dependable: Consumers often rely on the packages and buy the product. customers or others. The brand perception differs from customer to customer.
Whatever is indicated on the package must be available inside the package in For instance, for urban youngsters, the motorbike-Harley Davidson is a dream
terms of quality, and quantity. bike (the top model of Harley Davidson 'Cosmic Starship' is one of the most
expensive motorcycles in 2019 with a price of US $1.5 million
7.Ease in Identification: Packages should be such that they are easily
identifiable by the customers, dealers, and others. The printed matter and 5. Brand Associations: The brand must link or connect to certain associations.
symbols, or marks on the packages must be such that the customers are familiar For instance, Lux soap (the beauty soap of film stars) is associated with
with. beautiful female film stars. Darjeeling Tea is associated with Darjeeling district
of We Bengal. (When properly brewed, it yields a thin-bodied, light collared
8.Ease in Displaying: Packages must be convenient to display in the showcases infusion with a floral aroma.) A 5 star hotel like Taj Mahal is associated with
or on the racks at the stores. They should be attractive, compact, and high class hospitality meant for celebrity guests.
conveniently displayable.
Q.13 Component of marketing MIX Q .14 Objective Of Pricing
ANS - The first step in developing a pricing strategy is to develop pricing
ANS - Traditionally, marketing mix was composed of 4 Ps-Product, Price, Objectives what the pricing decisions must accomplish. Pricing objectives must
Promotion and Place. Now-a-days, marketing experts give importance to three support the broader objectives of the marketing department (such as increasing
additional Ps of marketing-mix - Pace, Packaging, and Positioning market share) and that of the organisation's overall objectives (such as
enhancing shareholders' wealth or enhancing corporate image
Component of marketing MIX
The following are the main objectives of pricing:
1.Product: A product can be defined as anything that is offered to the market
for attention, acquisition, and consumption that can satisfy a need or want. A 1. Survival: It is the most important objective of pricing; especially when
product can be ideas, goods and services that can generate customer companies are faced with the problem of over-capacity, intense competition, or
satisfaction. The company may follow single brand. changing consumer wants. Most firms adopt survival objective during
recession, when customers on an average have less money to spend.
2. Price: Price is the exchange value at which the seller sells, and the buyer
buys the product. The price must be right. The price should neither be too high
2. Image Differentiation: Some firms may create image differentiation through
nor too low. If the price is too high, the customers may prefer competitor's
pricing. They may charge a premium price for their products to create a distinct
product and if it is too low, the firm may not get adequate returns and also the
image vis-à-vis the competitors, in the minds of their target audience. Firms like
buyers may equate too low price to low quality.
Mercedes Benz, Rolex Watches, and others have adopted this strategy.
3.Promotion: Promotion involves all the activities the company undertake to
communicate and promote its products to the target market Promotion mix 3.Market Skimming Objective: The firms that launch a new product in a
consists of advertising, sales promotion, p relations, publicity, personal selling, market may adopt the market skimming strategy. In this case, the product is
and direct and on- marketing. launched at a high price, and then gradually it is reduced over a period of time.
Skimming, apart from other benefits, helps a firm to recover high development
4. Place: place includes the various activities the company undertakes costs associated with new products.
to make the product available to target audience. The place mix involves -
Distribution Channels, Dealer Relations, Channel Remuneration, Area 4.Early Cash Recovery: Firms that face liquidity problems or those that
Coverage, Transport and so on. believe that life of the product or market is likely to be short may adopt a
pricing strategy designed with the objective to generate a high cash flow and
5. Pace: Pace refers to the speed at which marketing decisions and actions are lead to an early recovery of cash.
taken. Marketers consider Pace as an important element of marketing mix. Due
to stiff competition, decisions taken at the right speed can give competitive 5.Market Entry Barrier Objective: Firms may adopt low price. strategy with
advantage to the firm. the objective of preventing others from entering the market. The potential
entrants would recognize the low returns available and the dangers of getting
6. Packaging: Packaging is an important aspect of the product itself. Now-a- involved in a price war. In this way, existing firms may be able to minimise the
days, packaging has gained great significance in the marketing of products, amount of competition in the market.
therefore, marketers consider packaging as an important element of marketing-
mix. 6.Social Responsibility Objectives: Social responsibility objectives often play
a major role in pricing decisions of the government and of non-profit
7. Positioning: Product positioning aims at creating and maintaining a distinct organisations. Even professionals like doctors may adopt social responsibility as
image of the brand in the minds of target customers. their pricing objective.
If the product is positioned effectively, then the marketer is
assured of higher sales of the product.

Q15.Explain various factors Affecting Pricing. Q.16 Explain the different types of traditional Channels of Distribution

ANS - Price is an important element of marketing mix. It is the exchange value ANS - The various channels are explained as follows.
of the product. Pricing of the product depends on several factors. The factors
influencing pricing can be broadly divided into two groups. 1.Direct Channel of Distribution (Manufacturer - Consumer): The direct channel
of distribution is also known as zero-level marketing channel. In the direct channel
External Factor there are no intermediaries between the producer and the final buyer. The producer
sells directly to final buyers through his own network of stores or at a centrally located
1. Costs: A firm while fixing prices should consider the costs for producing the place or by appointing door- to-door salesforce.
product. In the case of several products, costs constitute a large part of the price.
2.Manufacturer-Agent-Wholesaler - Retailer - Consumer :- This is the longest
The firm must plan to recover both the variable costs and the fixed costs.
channel in the chain of distribution. The sole selling agent purchases the goods from
the producer and then sells itt to the wholesaler, who in turn sells to retailers and the
2. Corporate Image: The firms enjoying a good image in the market may
Retailers im tuon sell it to consumers .
charge a higher price, as compared to those firms which do not enjoy a
reputation in the market. This is because; consumers have trust and confidence 3.Manufacturer - Agent - Retailer - Consumer: - This channel involves two
in the firms enjoying name and reputation in the market. For instance, firms like intermediaries i.e. the agent and the retailer. The producer sells to sole selling agent,
P&G, and HUL, can command a higher price for their brands, as they enjoy who in turn sells to retailers and the retailers sell to final buyers.
goodwill in the market.
4.Manufacturer-Wholesaler - Retailer - Consumer: - In this channel, the
3. Objectives of the Firm: The marketer must consider the objectives of the manufacturers sell to a number of wholesalers who in turn sell it to a large number of
firm, while fixing prices. Price of products is directly related to objectives of the retailers and the retailer in turn sell to final buyers.
firm. For instance, if the objective of a firm is to increase return on investment,
then it may charge a higher price. 5.Manufacturer – Wholesaler - Consumer: This channel is used very rarely in the
distribution process. It be used in combination with the channel mentioned at No.4. In
Internal Factor certain instances, where the final consumer's may requirements are of large quantity,
they can directly approach the wholesalers rather the retailers.
1.Competition - The marketer has to consider the degree of competition in the
market. When there is high competition, prices may be lower, and vice versa. 6.Manufacturer - Retailer - Consumer: IN this case, retailers directly buy from the
The price of competing brands, as well as those of substitutes, must be manufacturers rather than buying it from the wholesalers. In such instances, the
considered while fixing prices. Normally, the price must be within the range of retailers want to gain from bulk purchases directly from the producers.
that of the competitors.
7.. Manufacturers - Canalising Agency - Buyers: IN case of exports, certain items
are canalized such as gum karaya, mineral ores, Niger seeds, and petroleum products.
2. Consumers: The marketer should consider various consumer factors while
They cannot be exported directly. The manufacturers must route the canalized items
fixing prices. The consumer factors that must be considered include the price only through the canalising agency appointed by the Govt.
sensitiveness of buyers, purchasing power, buying pattern, and so on.
8.Producers - Cooperatives - Dealers - Consumers: In case of certain products like
3. Demand: Price of goods to a great extent depends upon demand. For agriculture and dairy products, the producers may supply their produce to the
instance, an increase in demand may lead to an increase in price, even though cooperatives. The cooperatives then look after marketing and distribution activities.
there may be no rise in costs. Demand may increase due to economic conditions The cooperatives may directly sell to the final consumers, or they may distribute the
in the market, problems with the supplies of competitors, and so on. commodities with the help of dealers - wholesalers and retailers.
Q. 17 What is Promotion? Explain the important elements of Promotion-mix. Q.18 Discuss the components of Sales Management
Ans - Sales management is the process of developing a sales force, coordinating sales
ANS Meaning of Promotion - Promotion is an important element of marketing mix. operations, and implementing sales techniques to achieve sales goals.
Promotion- mix is also called as communication-mix. Promotion-mix consists of various
elements that informs and induces the custom Mers to buy the product William Stanton The main components of sales management are:
defines promotion "as the element in an organisation's marketing mix that is used to inform,
persuade and remind the market regarding the organisation and/or its products." 1. Sales Planning: Sales planning is an important element of sales management,
which is concerned with setting sales goals. It also involves Sales strategizing, Setting
There are various elements of promotion mix. The choice of elements depends upon the
target units of sales, Demand management, Quotas, Demand, and supply forecasting.
promotion objectives. In general, the important elements or methods of promotion are as
follows:
2.Recruitment and Selection: Management of sales require personnel to undertake the
1. Publicity: Publicity is any non-paid form of non-personal presentation of ideas, goods, and various sales related activities. Recruitment involves identifying manpower
services. Publicity is provided through news and editorials by the mass media about a firm - requirements and then advertising the job to attract competent people. Selection
products, actions, policies, awards, etc. follows recruitment. Selection is a process to select right person for the right job.

2. Advertising: It is any paid form of non-personal presentation and promotion of ideas, 3.Training the Sales Staff: There is a need to provide training to the selected sales
goods, and services by an identified sponsor. The advertising messages are communicated staff. Training helps to: Improve knowledge, develop attitude, improve skills, Develop
through various media such as newspapers, magazines, radio, television, direct mail, internet, social behaviour.
and so on.
4. Placement of Employees: Placement refers to fitting the right person at the right
3.Sales Promotion: It consists of various tools that induce a desired response from customers place of work. Proper placement makes employees to work with commitment and
and intermediaries. The various sales promotion techniques include combo packs, discounts,
dedication. Right placement brings job satisfaction to the employees and thus, it
exchange offers free samples, free gifts, etc. The sales promotion offers certain benefits.
generates higher efficiency of the organisation.
4. Public Relations: Professional firms are concerned about the effects of their
actions on the public. A firm must communicate to the public of its goals and 5.Performance Appraisal: There is a need to conduct performance appraisal of the
interests; otherwise, they may be openly hostile to the firm's actions. employees. Performance appraisal is a systematic description of employees' job
relevant strengths and weaknesses. Various methods of performance appraisal may be
5.Salesmanship: It involves face-to-face communication between the firm's used such as 360-degree appraisal, bell shaped curve method, ranking method rating
representative and the prospect. The basic objectives are: method, etc.
To provide information to prospective customers. To persuade prospects to buy the
product. To educate the buyers regarding the use and handling operations, etc. 6.Motivating the Sales Staff: Motivation is an important element of sales
management Motivation is an act of stimulating the employees to enhance their
6.Packaging: A properly designed package can influence or induce the prospects to performance. Employees can be motivated with Incentives Monetary incentives such
buy the product. A well-designed package can communicate the type and quality of as higher pay, bonus, etc.
the product. Packaging plays important roles such as: 1. Providing information of the
product. 2.Protection of goods while transporting and handling. 7.Sales Reporting: Key performance indicators are used in determining the
effectiveness of the workforce. A sales report is usually drawn by the sales manager
7.Direct Marketing: Direct marketing involves several techniques to sell directly to on the basis of inputs provided by the subordinates. The sales reporting is done -
the customers, such as yellow pages, direct mail, internet, and telemarketing. The product wise, area wise, period wise, etc.
main advantages are: It offers customer selectivity. The marketer can communicate to
the select audience. 8.Monitoring Sales Performance: There is a need to monitor the sales performance-
product wise, area wise, period wise, team wise and so on. Monitoring involves the
8.Trade Fairs & Exhibitions: Participation in trade fairs and exhibitions is an following steps: Setting of targets Implementation of targets Measuring of
important technique of promoting products. It is one of the oldest forms of promoting performance.
the sale of products.

Q.19 Discuss the process of Personal Selling. Q.20 Explain the Scope & Importance of IMC

ANS - The process of personal selling involves a number of steps from The scope of IMC can be discussed with the help of its elements. The IMC as
prospecting to follow-up of sales. The following are the main stages of personal an important element of marketing can applied in promotion of various products
selling: such as goods, services, ideas, places, personalities, events, etc.
Under traditional marketing communications, firms or their agencies
1.Prospecting - Prospecting: The process of finding leads is called prospecting. used to plan separate campaigns for advertising, public relations, publicity,
In prospecting, the salesperson finds out which individuals or firms that could personal selling, direct marketing, and sales promotions. However, the
be targeted for sales. integrated marketing campaigns use the same communication tools to reinforce
each other elements and improve communication effectiveness. It is to be noted
2. Qualifying a Prospect: The sales staff needs to identify the qualified that nowadays for professional marketers, the difference between promotion-
prospects. Not all the leads may need the product. A lead is a name on a list. mix and IMC is getting blurred. In an integrated marketing campaign, a firm
The lead becomes a prospect only when it is determined that the person or can use advertising to raise awareness of a product and generate leads for the
company can benefit from the service or product offered. A qualified prospect sales force: By communicating the same information in publicity or press
has a need, can benefit from the product, and has the authority to make the releases and feature articles, a firm reinforces the message of the advertising.
purchase decision. One can then use direct mail or email to follow up inquiries from the advertising
or press campaigns and provide prospects with more information.
3. Pre-Approach: This stage involves the collecting of as much relevant
information as possible prior to the sales presentation. The pre- approach IMPORTANCE –
investigation is carried out not only on new customers but also on regular 1.Greater Impact: Under traditional marketing communications, firms or their
customers. agencies plan separate campaigns for advertising, public relations, publicity,
direct marketing, and sales promotions. Integrated marketing campaigns use the
4.Approach: The salesperson should always focus on the benefits for the same communication tools to reinforce each other elements and improve
customer. This is done by using the product's features and advantages and the communication effectiveness.
benefits to the customer. This approach is also called as the FAB.
2.Consistency in Communications: In an integrated marketing campaign, the
5.Sales Presentation: After generating the prospects interest, the salesperson different tools. (publicity, advertising, sponsorships, direct mail, etc.,) feature
makes the sales presentation. This involves a persuasive vocal and visual the same creative treatment.
explanation of a business proposition.
3.Time Saving: IMC saves lot of time of the marketing firm and its agency.
6.Handling Objections: Objections are often indications of interest by the The marketer can hire one agency to develop IMC. The same theme, design,
prospect and should not be misunderstood by salespeople. headlines etc., can be used across all the marketing channels like radio, TV,
press, direct mail, etc. Thus, there is not only cost saving but also time saving.
7.Closing the Sale: This is the last part of the presentation. A goods sales talk
results in clinching a sale. At this juncture, the salesperson closes the sale at the 4. Competitive Advantage: can help a company to gain competitive advantage
right moment. A salesperson can successfully close the sale by studying the in the market. A single and unified marketing communication with innovative
body language and the statements made by the buyers. elements can create a good impact on consumer buying behaviour.
8.Follow-up: The sale does not complete the selling process. Follow-up 5. Brand Awareness at a Lower Cost: Integrated marketing campaigns can
activities are very important and are useful for the establishment of long-term also result in cost savings. By using the same images and adapting the same
business relationships. The salesperson should check whether the goods are copy for different media, one can reduce copywriting, designing illustrations
delivered on time. and photography costs.
Q.21 What is supply chain management? Examine the components of Q.22 Discuss the challenges in rural marketing
SCM. ANS - Rural marketing refers to marketing of goods and services in rural areas. The
ANS - SCM is the management of supply chain activities to maximise customer marketers identify rural customers' requirements, and supply goods and services to
value and to achieve competitive advantage. Supply chain is a network of satisfy them.
facilities Android distribution options that performs the function of procurement About 70% of India's population lives in villages. As of June 2018, India's
population is 1.35 billion. About 69% of India's population (over 930 million) lives in
of materials, transformation of these materials into intermediate and finished
over 6.4 lakh villages. This means rural markets offer huge opportunities to marketers.
products and the distribution of finished products to the customers.
Harland states "Supply chain management is the management of a network of Challenges in rural marketing
interconnected activities involved in the provision of products required by end
customers." 1. Deprived people and deprived markets: The number of people below the poverty
Douglas M Lambert states "SCM involves the integration of key business
line has not decreased in any appreciable manner. Thus, poor people and consequently
processes across the supply chain for the purpose of creating value for
customers and stakeholders. underdeveloped markets characterize rural markets. A vast majority of rural people is
tradition bound, and they also face problems such as inconsistent electrical power.
Components of SCM
2.Lack of communication facilities: Even today, most villages in the country are
1.Planning - Planning an efficient supply chain is an important component of inaccessible during the monsoons. Many villages in the country have no access to
SCM. A plan or strategy must be developed to address how a particular product telephones. Other communication infrastructure is also highly underdeveloped.
will meet the needs of the customers. Companies need a strategy for managing
all the resources required to satisfy customer demand.
3. Transport: Many rural areas are not connected by rail transport. Many roads have
2.Sourcing (Procurement): It involves building a strong relationship with been poorly surfaced and got severely damaged during monsoons. The use of bullock
suppliers of the raw materials needed to manufacture the product. Sourcing carts is inevitable even today. Camel carts are used in Rajasthan and Gujarat in both
involves not only identifying reliable suppliers of raw materials but also rural and urban sectors.
planning methods for shipping, delivery, and payment. 4. Many languages and dialects: The languages and dialects vary from state to state,
region to region and probably from district to district. Since messages have to be
3.Processing & Scheduling for Delivery - This component involves the delivered in the local language, it is difficult for the marketers to design promotional
manufacturing of the product, testing the quality, packaging, and scheduling for
strategies for each of these areas.
delivery to the distribution centres and ultimately to the consumers. Supply
5. Dispersed markets: Rural population is scattered over a large land area. And it is
chain managers schedule the activities necessary for production, testing,
packaging, and preparation for delivery. almost impossible to ensure the availability of a brand all over the country. District
fairs are periodic and occasional in nature. Manufacturers and retailers prefer such
4.Delivery (Logistics) - Logistics is an important element of supply chain occasions, as they allow greater visibility and capture the attention of the target
management Some people consider supply chain management and logistics as audience for larger spans of time.
synonymous. However, SCM is broader in scope. 6. Low per capita Income: The per capita income of rural people is low as compared
to the urban people. Moreover, demand in rural markets depends on the agricultural
5.Management of Returns - A company must design a system to manage the situation, which in turn depends on the monsoons. Therefore, the demand is not stable
goods returned by the customers. Customers may return defective products, for
or regular.
many companies, this element may be the problematic element of supply chain
management. 7.Low levels of literacy: The level of literacy is lower compared with urban areas.
This again leads to a problem of communication in these rural areas. Print medium
becomes ineffective and to an extent irrelevant since its reach is poor.

Q.23 Discuss the Retails marketing & its recent trends in retailing. Q.24 Explain the general role of consumer organizations in protecting consumers
against unethical practices by marketers.
ANS - Retail marketing is the process of promoting products and services to
ANS - In India, a number of consumer organisations have been set up by NGOs to promote
customers through various channels of distribution in order to drive sales. It and protect the rights of customers. Some of the consumer organisations include Consumer
involves both direct and indirect marketing strategies, such as advertising, Guidance Society of India (CGSI), Mumbai, CERC, Ahmedabad, CUTS, Jaipur, CAG.
promotions, public relations, partnerships, and online marketing. The goal of Chennai, VOICE, New Delhi, etc.
retail marketing is to drive customers to purchase products, either in-store or
online. Retail industry trends are more than just blog post fodder. They’re Role of consumer organizations in protecting consumers against unethical practices by
markers for where businesses should put their attention and investment. marketers

1. Recommendations to Government: Consumer organisations are required to provide

Recent trends in retailing recommendations to the Government to frame suitable regulations in the interest of the
1. Ecommerce is here to stay - Ecommerce exploded in popularity and volume consumers. The consumer organisation may recommend to the Government to take
of sales during the COVID-19 pandemic. That growth has slowed, but appropriate measures to overcome unethical practices by the manufacturers and sellers.
ecommerce shopping habits are still very much here to stay.
2. Education of Customers: Consumer organisations educate and inform the customers
about their rights such as the right to choose, to right to safety, right to redress, etc. The
2. Safety is important to consumers - Governments and consumers are both education of consumers relating to their rights makes the consumer more responsible. The
demanding greater protections for personal data and privacy. consumers not only becomes aware of their rights but they also assist others, especially, the
illiterate consumers to fight for their rights.

3. Self-service checkout options - Fast and efficient in-person shopping 3. Makes Businessmen Sensitive to Customer Needs: Consumer organisations exert
pressure on businessmen and make them more sensitive to consumer needs. A good number
experiences have become an expectation in 2022. Self-service checkouts are a of businessmen are compelled to adopt ethical practices as per the provisions of Consumer
major driver of this demand. Protection Act, 1986 (modified from time to time).

4. Resolving Customer Complaints: Consumer organisations put pressure on the dealers to

4.Chatbots are the newest team members - Ecommerce chatbots have also solve the genuine complaints of the customers. Unethical traders may not bother to solve the
exploded in popularity in recent years. Gartner predicts that they will be the complaints of ordinary consumers. But due to pressure of consumer protection organisations,
main customer service tool for 25% of companies by 2027. the unethical traders are forced to resolve the complaints to the satisfaction of the consumers.

5. Protection of Environment:The consumer organisations play an important role in the

5. In-store appointment booking - Appointment shopping lets consumers book protection and preservation of environment. Consumers are aware of certain products having
exclusive time in-store to browse products. This is an omnichannel and adverse effect on the environment and on the consumers. Seminars and workshops are
experiential retail sales strategy. It allows for greater personalization and white- organised by consumer protection organisations to make the consumers aware of the
importance of the environment.
glove customer service experiences.
6. Assisting Educational Institutions:The consumer organisations encourage the educational
institutions to prepare study courses keeping in view the interests of the consumers. They
6.24/7 customer service - Customer service expectations amongst consumers stress the fact that a special module or topic on consumers' interest should be added to the
are higher than ever. Positive and negative experiences can impact the courses on general study.
likelihood of repeat business.
7. Organising Protests: The consumers' organisations play a significant role in eliminating
the evils of adulteration, hoarding, black marketing, and under-weight selling. Also,
7.Omnichannel shopping -To stay competitive, retailers must integrate in-store whenever there is an unnecessary rise in the prices of certain things, the consumers'
and online experiences. Omnichannel shopping has quickly become the norm. organisation raise a voice of protest against it.
Consumers want to be able to research online and buy in-store.
Q.25 what is Digital Marketing? Explain the trends in digital marketing. Q.26 Discuss the skill sets required for effective marketing.

Ans - The term 'digital marketing was first used in the 1990s. In the 21st century, the term ANS - Almost all managers require skills for effectively undertaking their activities.
'digital marketing' became more sophisticated and popular in developed countries, and also in Marketing personnel also require certain skills for effective marketing of the goods
emerging and developing countries. and services.
Digital marketing makes use of electronic devices such as computers, tablets, smartphones, Followings skill sets required for effective marketing –
cell phones, digital billboards, and game consoles to engage with consumers and other
business partners.
1. Marketing Skills: The marketing personnel should have creative marketing skills
The following trend in digital marketing to market the products. They should have skills relating to: Product design,
Promotion of the product, Pricing of the product, Distribution of the part. Apart
1. Artificial Intelligence (AI): Al is likely to revolutionize the digital marketing space. Al from the above skills, they should have good knowledge of marketing research, MIS,
the major development since the Internet. Al will influence what people do in their jobs. By consumer behaviour, etc.
leaving the most time-consuming and logic-based jobs to AI, marketers can focus their time
on creative thinking and ensure that AI efforts are aligned with strategic goals. 2. Time Management Skill -Every professional requires effective time management
skills. Time management skills enable the marketing people in timely completion of
2. Customer Experience (CE): In 2018 and beyond, leading marketers will make efforts to various tasks, and other related activities.The marketer must give priority to certain
optimize their CE through personalized content and with new way of operating content. CE activities depending upon the urgency and importance of the issues or matters.
would involve continuous dialogue with the customer over a period of time, which cannot be
done in a month or so. Also, a marketer cannot deliver CE by simply addressing a receiver 3. Persuasion and Negotiation Skills: The marketer must have a good deal of
with his or her first name. persuasion and negotiating skills. Persuading refers to convincing effectively to accept
what you say or what you offer. The more persuasive you are, the more successful you
3. Multichannel Marketing: There is a shift in thinking on the part of professional firms.
will be in the field of marketing.
They are shifting their focus on digital channels to a focus on audiences. In practice this
means that instead of communicating through different channels, leading companies are
increasingly building audiences and engaging with them across channels. 4.Decision-making Skills: Marketing executives need to make decisions regarding
product designing, promotion pricing, distribution, etc. The marketing executives
4.Social Media Analytics: Social media analytics are getting more powerful, precise data must have the skills to generate alternatives and to select the best alternative. For the
which are easier to use. Social media analytics (SMA) refers to the approach of collecting purpose of decision-making, executives need to: Collect the right information, analyse
data from social media sites and blogs and evaluating that data to make business decisions. the information & make systematic decisions
This process goes beyond the usual monitoring or a basic analysis of rewets or likes of a post,
to develop an in-depth idea of the consumer behaviour. 5. Administrative Skills: The top marketing managers must have good administrative
skills: They must have the skills to frame right plans and policies. They should be
5. Augmented Reality (AR): The success of Pokémon Go (gaming brand) has proved that able to organise resources and direct the subordinates to implement the various
consumers are ready for AR and may be even for VR (Virtual Reality) technology. AR and activities. They should be able to coordinate activities of various departments.
VR technology will no longer be used only for gaming but also for marketing of brands
through the digital platform. More brands are likely to come out with AR. 6.Leadership Skills: The marketing managers must be good leaders as well. They
should lead by example, and motivate the subordinates. They must have good
6. Personal Branding by Celebrities on Social Media: Celebrities like Shilpa Shetty,
leadership qualities such as discipline (application and dedication), honesty,
Malaika Arora and others have started their YouTube channels. Many others may join this
trend. These channels are either in collaboration with media houses, or on an individual basis. punctuality, effective personality and so on.
The personal brand helps the celebrities to launch clothing brands, cosmetics, etc.
7.Problem Solving Skills: Marketing is a complex puzzle, which has no right or
7.Story-telling: Nowadays, it is becoming difficult to sell without a story. That trend will wrong answers, but there are many possible solutions to marketing problems.
grow in coming years, and we could see more Behind the Scenes (BTS) by big brands. As a Therefore, marketing people must have the right problem solving skills to solve the
marketer it would be effective to state candid (frank or truthful) facts about the brand, along puzzle and to create and implement effective marketing strategies.
with call to action (CTA) posts.
8.Stress Resilience Skills: There are deadlines and work pressures. For instance, the
marketing people have to work for long hours even during the weekends

Q.27 Explain the competitive strategies of Market Leaders and Market Q.28 what are the features of the Indian Rural Market.
Followers.
ANS - Rural marketing refers to marketing of goods and services in rural areas.
ANS - Strategies of Market Leaders - A marketer leader enjoys the top position in The marketers identify rural customers' requirements, and supply goods and
the market. Examples of market leaders include Maruti Suzuki for popular cars, Amul services to satisfy them.
of GCMMF for Amul butter, Cadbury Dairy Milk of Mondelez International, TCS in
software, etc. The main features of Indian rural markets are as follows:
1. Expand the Total Market Strategy: Market leader can gain when the total market 1. Scattered Nature of Indian Markets: Rural India lives in over 6,40,000
expands. The focus of expanding the total market depends on the product life cycle of
villages. About 10% of India's villages have a population of 5000 plus. 55% of
the product concerned. This strategy can be used when a product is in the maturity
stage. For example, the Japanese increased their car production to enter new countries.
India's villages have a population of 500 or less. This data indicate that the
population in rural India is highly scattered.
2. Defending Market Share Strategy: When the leader tries to expand the total
market size, it must also continuously defend its current business against enemy 2. Size of Rural Demand: The size of rural demand is quite large for certain
attacks. For example, Hero Motor Corp constantly maintains its guard against Bajaj, FMCG products like soaps, washing powders, tea, etc. A study conducted by
Honda, Suzuki and TVS in the two- wheeler market. consultancy firm McKinsey states that the rural demand for non-durables will
increase from 160 billion (1 billion = 1000 million) in 2005 to 860 billion in
3. Expanding the Market Share Strategy: Market leaders can maintain their market 2020.
position by expanding the market share. The market leaders may be in a position to
increase the market share through aggressive marketing-mix strategies:1-Product 3.Consumer Behaviour in Rural Areas: Most of the consumers in rural areas
strategy - innovative products, diversifying in related product areas.2-Pricing are price sensitive. The rural customers prefer to buy those brands that give
strategy - innovative pricing strategies depending upon nature of the customers, them more value for money. Secondly, most of the rural customers prefer to buy
product, competition, etc. The market leaders may adopt predatory pricing strategies in smaller packs.
to drive away new competitors and to create tough times to existing competitors.
4. Comparatively Higher Growth for Certain Products: Currently, the rural
Strategies of Market Followers - Market Follower strategy' is a strategy of product
demand is growing faster than urban India. For instance, the urban demand for
imitation. The innovator bears the expense of developing the new product, bringing in
the technology, breaking entry barriers and educating the market. However, another
consumer durables like colour TVs, refrigerators, and so on is growing annually
firm can come along and copy or improve on the new product. at the rate of less than 10%. .

The four follower strategies are as given below: 5. Opinion Leaders: Opinion leaders play a key role in influencing the sale of
products in rural markets. The rural consumers depend on the opinion leaders
1.Counterfeiter: Copies the leader's product and packages and sells it in the black who introduce the product to them by using and recommending it.
market. E.g. pirated music/ movie CDs
6. Lifestyles: Consumer lifestyles in rural India have undergone - a change.
2. Cloner: Copies the leader's product features as it is. He also copies the brand name, There is a growing shift from traditional to modern outlook. A good number of
packaging with slight variations. rural consumers are influenced by the urban life-style.
3. Imitator: Copies some of the things from leader's product but maintains difference 7. Literacy Level: The rural demand is influenced by the increase in literacy
in packaging, and other factors. level. As per the 2011 census, the all India literacy rate has gone up to 74% of
the total population
4. Adaptor: Launches improved products over that of the innovator's.
Q.29 Elaborate on various careers in marketing in the 21st century Q.30 What is Service marketing & explain Features of Service marketing.
Ans - In 21 St century Various career options are available in the field of marketing . ANS - Definition of Service Marketing: Service marketing is marketing based
The candidates need to have competent qualifications (such as a MBA degree with
on relationship and value. It may be used to market a service or a product. With
specialisation in marketing) and experience to deal with marketing activities of an
organisation. the increasing prominence of services in the global economy, service marketing
has become a subject that needs to be studied separately. Marketing services is
The following careers in marketing in the 21st century different from marketing goods because of the unique characteristics of services
namely, intangibility, heterogeneity, perishability and inseparability.
1. Advertising Manager: Large MNCs may appoint advertising manager to liaison
Features of Service marketing.
with the ad agency. The role of the ad manager would include:1.Holding meetings
with the ad agency personnel.2.Providing inputs to the ad agency for an effective ad 1. Intangibility: A physical product is visible and concrete. Services are
campaign.3.Maintaining client-agency relationship.4.Approval of the ad intangible. The service cannot be touched or viewed, so it is difficult for clients
campaign.5.Attending the presentation on ad pitch.
to tell in advance what they will be getting. For example, banks promote the
2.Public Relations: PR managers need to manage the perception of the products. sale of credit cards by emphasizing the conveniences and advantages derived
Apart from managing the perception of the products, PR managers manage activities from possessing a credit card.
like drafting advocacy speeches, press releases, and handling major crises.
2. Inseparability: Personal services cannot be separated from the individual.
3.Marketing Research: Nowadays, the marketing research field is gaining Services are created and consumed simultaneously. The service is being
importance. Marketing research is a process of systematic gathering, recording, and produced at the same time that the client is receiving it; for example, during an
analysing the data to solve specific marketing problems. online search or a legal consultation. Dentist, musicians, dancers, etc. create and
4.Marketing Information Systems: Nowadays, large marketing organisations offer services at the same time.
maintain MIS for effective marketing decisions. MIS is wider in scope as compared to
marketing research. The personnel involved in MIS should have a good knowledge of 3. Heterogeneity (or variability): Services involve people, and people are all
the following:1.Internal Records wit 2.Marketing Decision Support
Systems.3.Marketing Research4.Marketing Intelligence. different. There is a strong possibility that the same enquiry would be answered
slightly differently by different people (or even by the same person at different
5.Sales Promotion Managers: Nowadays, sales promotion plays an important role in times). It is important to minimize the differences in performance (through
marketing of goods, especially consumer goods. Therefore, there is good scope for training, standard setting and quality assurance).
career in sales promotion

6. Brand Managers: A There is a good scope for brand managers especially in 4. Perishability: Services have a high degree of perishability. Unused capacity
MNCs. Brand managers have to build brand image and improve brand equity. Brand cannot be stored for future use. If services are not used today, it is lost forever.
image can be developed through various activities
For example, spare seats in an aeroplane cannot be transferred to the next flight.
7.CRM Managers: Nowadays, the role of CRM managers is becoming more Similarly, empty rooms in five-star hotels and credits not utilized are examples
relevant. CRM involves maintaining and analysing detailed information about of services leading to economic losses.
important individual customers. The purpose of CRM is to maximise customer
loyalty. Therefore, the CRM managers must have a deeper understanding of
customer's buying behaviour. 5. Changing demand: The demand for services has wide fluctuations and may
be seasonal. Demand for tourism is seasonal, other services such as demand for
8. Product Development Managers: modifying the product development managers public transport, cricket field and golf courses have fluctuations in demand.
are responsible for developing new products and for improving or existing products.

Q.31 Important of Marketing MIX Q.32 Factors contributing to success of a brand.

Introduction -: Effective marketing is required to generate demand for goods and ANS - Introduction: Some brands are highly successful in India. The successful
services. Apart from creating demand, effective marketing generates customer brands in India include Favicon, Cadbury Dairy Milk, Amul Butter, Maruti Suzuki,
satisfaction, enhances corporate image, enables the firm to gain competitive Hero (Motor Corp) TCS, Infosys,
advantage, maintains customer relationship, develops brand image, enhances brand
equity, sustains brand loyalty, facilitates business expansion, and so on. The main factors contributing to the success of brands in India are as follows:

Important of Marketing MIX 1. Unique selling propositions: A successful brand has an USP. The USP can be in
terms of special feature of the product, special price of the product, etc. For instance,
1. Competitive Advantage: Effective marketing helps to face competition in the Big Bazaar has become a big brand in India for its low pricing, especially on
market. Professional marketers are proactive in decision-making. They come up Wednesdays. Several customers throng the Big Bazaar outlets on every Wednesday.
with: Innovative designs or models. Charging competitive prices. Creative
promotion schemes. Efficient after-sale-service. 2. Unique brand slogans: A successful brand is always associated with unique brand
slogans, or taglines or taglines. For instance, Amul Butter has an unique tagline
2. Customer Satisfaction: Today's marketing is customer oriented. Business firms Utterly Butterly Delicious. For Pidilite'sFevicol, the tag line is - Wahimazbootjod,
place lot of emphasis on customer satisfaction. Customer satisfaction is the outcome paanimeinbhierFevicolkamazbootjodhaiTooteganahi are the best examples of unique
of a correlation between product performance and customer expectation: When slogans that remains on the mind of the target audience.
product performance is below customer expectation, the customer is dissatisfied.
When product performance matches with customer expectation, the customer is 3.Knowledge of Target audience: Considering that branding success is only possible
satisfied. due to the existence of customers; one of the primaries aims of a company should be
to identify and understand its target audience. Great brands understand the consumer
3.Organisational objectives: Marketing helps to achieve organisational objectives. behaviour of the target customers in terms of: What they buy Why they buy
Systematic marketing activities such as effective product designs, pricing, promotion When they buy How often they buy.
and distribution helps a firm to increase its sales and achieve the following
objectives: Increase in profits Improved brand image Increase in market share 4. Consistency: Brands that fail to be consistent will have poor performance at the
Improved corporate Image Enhanced customer loyalty, etc. marketplace. A company can't expect customers to be loyal when there is lack of
consistency in its marketing activities.
4.Corporate Image: Effective marketing enables a firm to develop and enhance its
corporate image. Due to effective marketing (right product, price, etc.,) the firm 5.Innovation: Continuous innovation brings success to the brands. For instance,
attains higher performance. Therefore, corporate image improves in the minds of: Fevicol is India's Most Trusted Brand of Adhesives due to its continuous innovation.
Employees, Customers, Dealers, Suppliers, Shareholders, and other stakeholders. Fevicol has become a household name, which is synonymous with adhesives. The
brand has introduced many innovative products which have transformed the way
5. Brand Loyalty: Effective marketing helps to develop brand loyalty. Brand loyalty carpentry trade operates in India.
refers to: Repeat purchases of the brand by satisfied/delighted customers.
Recommendations of the brand by satisfied customers to friends, neighbours, and 6.Integrated marketing communication: Companies need to use IMC to make their
others. brands successful. In an integrated marketing campaign, a firm can use advertising to
raise awareness of a product and generate leads for the sales force.
6.Brand Equity: Marketing activities develop brand equity. Brand equity is the
incremental value of a brand over and above its physical assets. Customers are willing 7. Diverse portfolio of products: A brand may meet success in the market due to its
to pay premium price for effectively marketed brands. diverse portfolio of products. For instance, with its diversified product portfolio, Amul
has been able to cater to the needs of all the segments. From kids to teenagers, men to
7. Brand Image: Marketing activities improve brand image. Brand image is the women, calorie conscious to health conscious, the company has ensured that it
perception of the brand in the minds of customers. Good brand image gives launches products for every segment.
competitive edge to the firm in the market.
Q.33 What you mean by Pricing? Explain the Internal Factors which Q.34 MARKETING INFORMATION SYSTEM
are Influencing on pricing.
Ans: Introduction: Marketing information includes all the data, in terms
ANS- Introduction: Price is an important element of marketing mix. It is of facts, opinions, views, guidelines and policies, which are necessary to
the exchange value of the product. Pricing of the product depends on make vital marketing decisions. The data is collected from customers,
several factors. competitors, company salesforce and other staff, government sources,
specialized agencies, and sources.
1. Costs: A firm while fixing prices should consider the costs for
producing the product. In case of several products, costs constitute a large 1. Continuous in nature: The MIS activity is continuous in nature. There
part of the price. The firm must plan to recover both the variable costs and is constant need to collect relevant marketing data relating to the
the fixed costs. However, if a firm is selling bulk of its supplies in the environment such as competitors' strategies, Government policies,
home market, and a part of production in the overseas market, then all the customers’ requirements, changes in international environment, etc.
fixed costs may be recovered from the home market, and only variable
costs may be charged for the overseas markets. 2. Cost & effective Information: There is no sense in collecting whatever
information that is available in the market. MIS facilitates the collection of
2. Corporate Image: The firms enjoying a good image in the market may only relevant information.
charge higher price, as compared to those firms which do not enjoy
reputation in the market. This is because; consumers have trust and 3.Components of MIS : MIS consists of four components: (a) Internal
confidence in the firms enjoying name and reputation in the market. For Records. (b) Marketing Intelligence system (c) Marketing research (d)
instance, firms like P&G, and HUL, can command a higher price for their Marketing Decision support system.
brands, as they enjoy goodwill in the market.
4. Systematic Process: MIS is a systematic process of collecting and
3. Objectives of the Firm: The marketer must consider the objectives of maintaining record of marketing information. The MIS process consists of
the firm, while fixing prices. Price of products is directly related to : Gathering marketing information. Sorting/ classification of data.
objectives of the firm. For instance, if the objective of a firm is to increase Analysing marketing data. Transmitting the data to marketing decision
return on investment, then it may charge a higher price, and if the makers.
objective is to capture a large market share, then it may charge a lower
price. 5. Unified and Centralised System : There are several information
components (internal records, marketing research, etc.) in every MIS.
4. Product: If a product is of superior quality, then a firm may either Also, there are several activities in each component collection of data,
adopt premium strategy or high value strategy. In premium pricing, the processing, storing and transmission. The components and the activities
firm charges high price for high quality In high value pricing, the firm must be integrated into a unified system.
charges moderate/low price for high quality.
6. Use of Latest Techniques : MIS makes use of latest techniques such as
5. Product Life Cycle: The stage of a products life cycle affects pricing. sophisticated computers, micro-films etc. The sophisticated tools and
For instance, when a firm introduces a product in a competitive market, techniques enable the MIS staff to collect, store and process meaningful
then it may charge a lower price to attract the customers. During the information, which can be transmitted to marketing managers to make
growth stage, a firm may increase the price, especially in a low effective decisions
competition market.

Q.35 Internet marketing Q.36 Niche Marketing

Ans: Introduction: Internet marketing, also known as online marketing Ans: Introduction: A niche market is a small market segment. Normally,
or digital marketing, refers to the use of the internet and digital small firms enter in niche markets, because the niche segment may be so
technologies to promote and advertise products, services, or brands to a small that the larger firms may not have the desire to cater such segments.
wide online audience. It encompasses various strategies and channels to However, there are large and reputed firms that undertake niche
reach and engage potential customers. marketing, which include Rolls Royce, Rolex Watches and others.

Here are some key components of internet marketing: Advantages of Niche Marketing:

1. Affiliate Marketing: Partnering with individuals or other businesses 1. Less Investment: The niche marketer requires less investment as he has
(affiliates) to promote products or services. Affiliates earn a commission to produce limited goods for the niche market. The niche marketer requires
for each sale or lead they generate through their marketing efforts. lower investment in production and marketing activities.

2. Influencer Marketing: Collaborating with influencers in your industry 2. Less Risks: There may be less risks as the marketing is done to a very
or niche to promote your products or services. Influencers have a small segment of the market. For example, the risk of loss due to
dedicated following and can help you reach a highly engaged audience. technological changes or changes in fashion may be lower.

3. Social Media Marketing: Leveraging social media platforms like 3. Brand Loyalty: Customers may become brand loyal. The customers
Facebook, Twitter, Instagram, and LinkedIn to promote products or may continue to repeat the purchases of the same brand and they may even
services, interact with customers, and build brand awareness. It includes recommend it to their friends and others.
both organic (unpaid) and paid social media advertising.
4. Corporate Image: The niche marketer can earn name and reputation in
4. Content Marketing: Creating and sharing valuable, relevant content the market. For instance, companies like Rolex Watches, Rolls Royce, etc.
such as blog posts, articles, videos, and infographics to attract and engage command a lot of goodwill.
an online audience. Content marketing helps establish authority and trust
with potential customers. 5. Competitive Advantage: Niche marketers normally face less
competition in the market, as they deal with a specific product for a small
5. Analytics and Data Analysis: Internet marketing relies heavily on data segment of the market. Competitors may not like to enter the market due
and analytics to measure the effectiveness of campaigns. Tools like to lower volume of sales.
Google Analytics provide insights into website traffic, user behaviour, and
conversion rates. 6. Customer Satisfaction: Niche marketing generates customer
satisfaction. This is because, the marketer gets first-hand information
6. Mobile Marketing: With the growing use of smartphones and tablets, about customers and accordingly designs the product to meet the
optimizing marketing efforts for mobile devices is crucial. This can expectations of niche customers.
include mobile-friendly websites, mobile apps, and SMS marketing.
Q.37 Marketing Opportunity Analysis Q.38 Competitive strategies for market challengers.

Ans: Introduction: Market opportunity analysis is a strategic process that Introduction: The market challengers generally occupy the second or
involves evaluating the potential for a new product or service within a third market position behind the market leader. The market challengers
specific market. It helps businesses make informed decisions about adopt marketing strategies to attack the market leader or the immediate
whether to enter a market, expand their offerings, or invest resources. competitor (like third place challenger may attack the marketer holding the
second place).
Here's an overview of the key steps involved in market opportunity analysis:
Below Competitive strategies for market challengers
1. Market Identification: Define the target market and segment it based
on demographics, psychographics, geography, and other relevant factors. 1.Frontal Attack: The frontal attack is a direct attack, wherein the market
challenger matches with the competitor's product, price, advertising, and
2. Market Sizing: Determine the market's size, both in terms of the promotion activities. The market challenger can even reduce the price
overall market and the specific segment you plan to target. This involves without compromising on the quality, especially in the case of high price
estimating the total number of potential customers and their purchasing products. For instance, GCMMF (owners of Amul Brand) adopted this
power. strategy when it launched 'Amul Kool at a low price with the same level of
3. Market Trends and Dynamics: Analyse current market trends, the quality as offered by competitors in the market.
growth rates, and any potential shifts in customer preferences or industry 2. Flank Attack: A marketer attacks a competitor on its weak points. For
dynamics. instance, the challenger identifies the poor performing areas of the
4. Market Entry Strategy: Based on your analysis, determine the most competitor and then push its marketing efforts in that area. Also, the
suitable market entry strategy. This could include launching a new challenger identifies the segments which the competitor has not tapped and
product, entering a new geographic region, or expanding your product line. then enter in such market segments.

5. Testing and Validation: Before a full-scale launch, consider 3. Encirclement Attack: This attack is a combination of frontal and flank
conducting small-scale tests or pilot projects to validate your assumptions attack. The challenger attacks the market leader or a competitor from all
and reduce risk. the fronts simultaneously. This strategy is used by FMCG companies such
as P&G, HUL Dabur, etc. It is also used by soft drinks companies like
Coke and Pepsi.

4. Bypass Attack: The bypass attack is the indirect attack, wherein the
market challenger does not attack the leader directly but increase its
market share by attacking the easier fronts or markets.

5. Guerrilla warfare: The Guerrilla warfare is the intermittent attacks

imposed by the challenger to demoralize the competitor by adopting both
the conventional and unconventional means of attack. For instance, Pepsi
and Coca-Cola follow this strategy aggressively with the intention to
harass each other. When Coca-Cola was the official partner of the world
cup, Pepsi counter-attacked it by using the punch line "Nothing official
about it"

39. What is Green marketing & important (Also write in short note ) Q.40. Explain the term Market Segmentation? What are the bases of Market
segmentation? Ans: Introduction: Market segmentation refers to subdividing a larger
market into smaller submarkets. In the words of William Stanton, "Market segmentation is
Ans: Introduction: Green Marketing is beneficial to the society as well the process of dividing the total, heterogeneous market for a product into several submarkets
as to the organisation that undertake green marketing activities. The or segments, each of which tends to be homogeneous in all significant aspects." Philip Kotler,
defines "Market segmentation is a process of identifying groups of buyers with different
importance of green marketing is stated as follows: desires or requirements."

1. Protection of environment: Green marketing helps to conserve and A. Geographic: 1. Region: Regional segmentation is undertaken because of differences in
buying behaviour of customers belonging to different regions. For example, customers from
protect the environment from degradation. For instance, green marketing western India may prefer lighter shades of clothes, whereas southern India customers may
firms invest heavily in R&D to develop eco- friendly products. The eco- prefer darker and brighter shades. 2.Urban/Rural: There are differences in buying behaviour
friendly products help to conserve the environment. of urban and rural customers. For instance, rural customers are more price sensitive as
compared to urban customers. 3.Locality: Buying behaviour is also influenced by the locality
2. Public health: Green marketing contributes to the betterment of public within a particular city/town. For instance, there are differences in terms of buying pattern of
people living in western suburbs and that of central suburbs of Mumbai.
health. Green marketing helps to control and reduce pollution, which may
improve health of the people. Also, consumption of green goods or eco- B. Demographic: :
friendly products adds to the health of the consumers.
Demography refers to study about the different aspects of population. Markets can be divided
3. Corporate image: Firms that undertake green marketing activities are on demographic factors like age, gender, education etc. The various demographic factors are:
1.Age: The markets can be segmented by age groups, such as children, youth, middle-aged
respected by the members of the society, especially in developed and senior citizens. 2.Gender: Marketers can segment the markets based on gender
countries. Green marketing activities enhance the corporate image in the preferences. Examples include that of textiles and clothing, personal care products, perfumes,
minds of various stakeholders such as customers, employees, footwear, etc. Education: Market can be segmented on the basis of education. Most studies
environmentalists, government authorities and others. indicate that the highly educated people spend more than the low educated in respect of
housing, clothing, recreation, etc. 3. Psycho graphic: It refers to individual aspects like
lifestyle and personality. Lifestyle: Sellers study the lifestyles of the consumers. For example,
4. Competitive advantage: Firms that produce green goods enjoy a manufacturer of readymade garments may design the clothes differently matching different
competitive advantage in the market, especially in developed nations. lifestyles of college-students (more fashionable), officegoers (more sober) and so on.
Customers in developed countries are concerned about the environment Personality: Personality characteristics such as leadership. independence, masculine,
and therefore, they may prefer to buy eco- friendly products. impulsive, ambitious, etc., do influence buying behaviour. 4. Behaviour: In this case, buyers
are divided into groups because of their response to the product usage rate, user status,
loyalty status buying motives and so on. Usage Rate: One possible way to define target
5. Customer relationship: A firm can develop good relationship with market is by product usage. There can be heavy users, medium users, light users and
customers through green marketing efforts. For instance, a firm can nonusers. The seller would like to increase consumption by present users and induce nonusers
encourage to participate in green marketing related activities. For instance, to become users. User Status: Market can be segmented on the basis of user status such as:
a tea marketer can encourage its consumers to use the waste of used tea non-user, ex-user, potential user, first-time user, regular- user and so on.
leaves as fertilizer for gardening rather than using chemical fertilizers. C. Sociographic: The market can be segmented on the basis of sociological factors such as:

6. Consumer behaviour: Green marketing influences consumer 1. Culture: The marketer may consider cultural influences while segmenting markets. For
behaviour. Responsible citizens are concerned about the effects of instance, youth in urban areas are influenced to a certain extent by western culture, whereas
production and pollution on the environment. Therefore, such responsible youth in villages follow more or less traditional culture.
customers would prefer to buy the goods from eco-friendly companies. 2.Reference Groups: A reference group may be defined as a group of people who influence
a person's values, attitudes and behaviour Consumer behaviour can be influenced by the
reference groups like friends’ circle, club members, etc.
Q.41 Explain Marketing and Its Features Q.42 Explain Marketing and Its Importance

ANS- Meaning of Marketing: Marketing is the process of analysing, creating, and providing ANS- Meaning of Marketing: Marketing is the process of analysing, creating, and providing
value to meet the needs of a target market in terms of goods and services; potentially value to meet the needs of a target market in terms of goods and services; potentially
including a selection of a target audience. These functions are useful to conduct marketing including a selection of a target audience. These functions are useful to conduct marketing
activities on a large scale and are called part of the marketing process.For instance, activities on a large scale and are called part of the marketing process.For instance,
transportation, warehousing, packaging, advertising, branding, etc. transportation, warehousing, packaging, advertising, branding, etc.

Features Importance:

1.Need and want: Marketing focuses on need and wants of customers. All the activities in 1.Helps in business planning and decision making: Marketing helps in business planning
the market are carried out with the motive of satisfying needs and wants of customers. as it helps to shape the product from its production to it reaching the customers. The 4Ps of
marketing help the business to make sure what alternatives are better for the growth of the
2. Creating a market offering: Offering a product or service by specifying its features, business and help to make decisions that prove beneficial for the customers.
shape, size, colour, etc., is known as market offering. A good market offer should keep in
2.Product development: The product part of the 4Ps provides alternatives for developing the
mind the satisfaction of customers. For example, Detergents are available in various sizes
depending upon the needs of the customers. product regarding its branding, labeling, packaging, and how it should be brought into the
market. Moreover, customer feedback and market research provide a blueprint of how the
3. Customer value: A customer is ready to give a price for a product only when he is product has to be further modified to suit the needs of the consumers.
satisfied or when the product is offering utilities matching the price. On the basis of 3.Effective consumer engagement: with the use of various platforms online and offline, the
satisfaction and service offered, a product is valued by customer. Customers prefer a product
company can gain consumer engagement in some form or another. In personal selling, for
over the competitors’ product only, when a marketer adds to the value of product.
example, salesmen interact with the customers and get to know their needs.
4. Exchange mechanism: The process involving exchange of products and services for 4.Builds relationships among customers: marketing always tries to establish a cordial
money or money’s worth is known as exchange mechanism. It can take place either between relationship with the customers. Modern marketing deals with the customers as they are the
manufacturer and customer or through middlemen. king. Hence continuous efforts make customers satisfied. And this helps them stay with the
brand or company for a long time.
5. Customer focus: The marketing function of a business is customer-centred. It makes an
attempt to study the customer needs, and goods are produced accordingly. The business 5.Marketing creates revenue options: When marketing techniques convert the leads to
existence depends on human needs. In a competitive market, the goods that are best suited to actual sales. It ultimately increases revenue. Hence, marketing is crucial to generating and
the customer are the ones that are well-accepted. increasing revenue by communicating the products with potential customers.

6. Customer satisfaction: A customer expects some services or benefits from the product for 6. Set better goals for your business: The success of a business depends on its goals and
which payment is made. If this benefit is more than the amount paid, then the customer is objectives. Marketing can help a business set its goals. By practicing some marketing
satisfied. In the long run, customer satisfaction helps to retain market demand. It helps strategies it will lead to the popularity of their brand. By this, it will motivate the company to
achieve organizational objectives. maintain its reputation.

7. Continuous and regular activity: Marketing is an activity designed to plan, price, 7.Build a reputation for your brand: Another benefit of implementing marketing strategies
promote and distribute products. At the same time, it also addresses both the current and is to build a reputation for your brand. But it is essential to ensure you are giving outstanding
future consumers. Thus, it is a continuous process. A marketer has to consistently monitor quality and useful products to your target market. This way, you won’t only build an excellent
environment. This helps in coming up with new products. reputation for your product, but also your brand.

8. Exchange process: Marketing involves exchange of goods, services and ideas with the 8. Improves Decision: Making When a company hires a market specialist, they will do
medium of money. Exchange takes place between sellers and buyers. Most of marketing everything to boost the sales of your products by making appropriate marketing actions. The
activities are concerned with the exchange of goods. Functions such as distribution, after-sale first thing to consider in doing these activities knows your audience. When the company has
services and packaging help in the exchange process. known fully their audience, this will help them decide what lines and details they will create
in convincing people to buy their product
9. Marketing mix: A combination of four inputs constitutes the core of a company’s
marketing system—product, price, place, and promotion. Marketing mix is a flexible
combination of vari-ables

Q.43 Explain Product life cycle/stages/ Strategies Q 44 Explain factor influencing of physical distribution channel.

ANS – Meaning of Product life cycle: The product life cycle is the succession of stages that a ANS: The factors which affect the distribution channel are several, like the ones related to the
product goes through during its existence, starting from development and ultimately ending in decline. goods, related to the firm, related to a middleman, and related to the market, etc. Firms consider
Business owners and marketers use the product life cycle to make important decisions and strategies many factors related to their goods, markets, costs, goals, and competition when determining
on advertising budgets, product prices, and packaging. which distribution channels to use.

stages of the product life cycle

The main factors are influencing of physical distribution channel:
1. Development: The development stage of the product life cycle is the research phase before a
product is introduced to the marketplace. This is when companies bring in investors, develop 1. Transportation: Distribution is always dependent on the supply chain and its efficiency. There
prototypes, test product effectiveness, and strategize their launch. are many factors to consider enabling faster delivery in a country like India, where customers are
scattered across the country.
2. Introduction: The introduction stage happens when a product is launched in the marketplace. This
is when marketing teams begin building product awareness and targeting potential customers. 2. Product Size: Product size is a matter of concern when it comes to cost-cutting and delivering
Typically, when a product is introduced, sales are low and demand builds slowly. on time. A heavy item cannot be delivered quickly and easily without prior planning. It needs
3. Growth: During the growth stage, consumers have accepted the product in the market and more manpower, warehouse space, and larger vehicles which directly affect the cost of logistics
customers are beginning to truly buy in. That means demand and profits are growing, hopefully at a and delivery. In a similar way, smaller and more perishable products also require their own
steadily rapid pace. precautions such as proper storage facilities, extra care, etc.

4. Maturity: The maturity stage is when the sales begin to level off from the rapid growth period. At 3. Product Durability: These days, food delivery applications are claiming to deliver orders in
this point, companies begin to reduce their prices so they can stay competitive amongst the growing just 10 minutes. This is because food is a perishable product. Sellers need to identify the
competition. perishability of their products and plan physical distribution processes accordingly.
5. Saturation: During the product saturation stage, competitors have begun to take a portion of the 4. Delivery Preferences: Customers often have preferences for the delivery of their product such
market and products will experience neither growth nor decline in sales. Typically, this is the point as the location, time, etc. It is the responsibility of the retailer to ensure that these preferences are
when most consumers are using a product, but there are many competing companies respected to achieve a positive delivery experience for the customer. Suggested Read: What is
retail logistics?
6. Decline: Unfortunately, if your product doesn‘t become the preferred brand in a marketplace, you’ll
typically experience a decline. Sales will decrease during the heightened competition, which is hard to 5. Delivery Partner Reachability: It is nearly impossible to deliver across the country and make
overcome. it smooth. A seller can partner with different logistics companies in different locations based upon
Strategies their area specializations, better workforce, good manager, etc. So here, a seller needs to be smart
and choose the best order ecommerce fulfillment company for specific areas. The delivery partner
1 Development Stage Marketing Strategy: While marketing typically begins in the introduction should also be easily contactable by the customer in case of any query, instruction relays or
stage, you can begin to build “buzz” around your product by securing the endorsement of established emergencies.
voices in the industry.
6. Warehouse Management Systems: To perform complex supply chain tasks, handing
2. Introduction Stage Marketing Strategy: This is where the fun begins. Now that the product is hundreds-thousands of orders, moving thousands of miles in multiple vehicles, successfully
launched, you can actually promote it using inbound marketing and content marketing. Consider delivering the product and minimizing the cost to do it is not an easy task for a retailer and
collaborating with influencers or industry experts who have a strong following and influence in your
consists of multiple variables. To make this more simple and efficient, a business needs high-tech
target market
software like Warehouse Management Systems (WMS). It also gives them tracking and transport
3. Growth Stage Marketing Strategy: During this phase, marketing campaigns often shift from abilities.
getting customers’ buy-in to establishing a brand presence so consumers choose them over developing
7. Cost-Effective: With so many delivery options and an endless amount of envelopes, bubble
competitors.
wrap, double-walled boxes and tape needed to keep your items safe in transit, distribution is more
4. Maturity Stage: Marketing Strategy When your product has become a mature offering, you may complicated than you think, which is why outsourcing can save you a lot of money, not just on
feel like you’re “sailing by” because sales are steady and the product has been established. But this is the physical costs but also on the costs to your reputation.
where it’s critical to establish yourself as a leader and differentiate your brand.
Conclusion: Physical distribution is a series of complex tasks and if even one of them goes
5. Saturation Stage: Marketing Strategy When the market has become saturated, you’ll need to focus slightly wrong, it can have a drastic impact on the entire supply chain. Businesses not only need
on brand awareness and differentiation. Identify specific customer segments within your market and to figure out the best way to accomplish this but also in the most cost-effective way possible,
tailor marketing efforts to appeal to their specific needs and preferences. which takes away precious time and activity that could be spent on trying to grow the business.
Q45 Explain Career in marketing Q46 Explain success of brand in India
ANS – A marketing career typically involves generating interest in a company's brand and Ans - There are a number of factors that go into a brand's success, but one of the most important
products, but marketers go about that work in various ways. If you choose to pursue this in- things a company needs is a clear understanding of its audience. This is important for any
demand work, there's more than one career path to explore—and lots of growth opportunities company, but it's especially important in the Indian market.
1.Social Media Coordinator: Social media coordinators plan, develop, manage and coordinate
social media campaigns on different social media platforms as per client or company
1. Amul Products: Amul is the undisputed king of the FMCG industry in India with a rich
requirements. A social media coordinator generally creates and curates relevant and engaging
portfolio of marquee brands in its field of presence. It has various range of products like Butter,
text, video, audio and visual content for their clients. They may post or automate the content
milk, milk-based drinks, cheese, curd, buttermilk, chocolates, ice creams, chocolates (including
posting when the brand's target customers are most active.
dark chocolates) etc.
2. Marketing Executive: A marketing executive develops, implements and oversees sales
2. Parle: Parle biscuits, with affordability and mass consumer appeal, is India’s most successful
strategies and campaigns to promote brands, services and products. They may also conduct
brand story. Unforgettable picture of little sweet child licking his fingers on its packaging leaves a
market research, monitor consumer trends, track marketing data and create sales performance
unique mark on our mind. This is one child who refused to grow and seems to be an immortal
reports. Additionally, they can cultivate relationships with clients, customers, sponsors and media
child.
representatives.
3. Raymond Fabrics: Raymond fabrics particularly, trousers and suit pieces are reigning
3. Marketing Coordinator: Marketing coordinators usually oversee the planning, budgeting,
bridegroom favourite marriage dress and brides family preferred marriage gift to relatives. The
implementation and coordination of print, broadcast and online marketing campaigns. They
brand has a strong chain of retail stores across India backed by effective advertising campaigns,
gather relevant customer data to develop marketing strategies and coordinate marketing activities
target messaging and quickly adaptable to ever-changing consumers tast.
by researching markets, monitoring trends, conducting customer surveys and evaluating
competitors. 4. Big Bazaar: Kishore Biyani has been acknowledged as King of retail in India. A few years
back, the retail sector including neighborhood grocery stores has been largely an unorganised
4 Marketing assistant: The job of a marketing assistant typically includes supporting the
business, due to convenience and accessibility factors. Biyani was first to spot this vast
marketing team as the main duty of the position. Marketing assistants undertake various
opportunity and set up a large organised retail chain of stores at key locations.
administrative tasks related to marketing campaigns, such as gathering marketing data,
maintaining databases and communicating with clients. 5. Tata Group: The Tata Group is a group of companies headquartered in Mumbai, India.
Established in 1868, it is India's largest conglomerate, with products and services in over 150
5. Marketing Analyst: The job responsibilities of a market analyst include assessing market
countries, and operations in 100 countries.
conditions, determining the demand for products and services, evaluating the prices people might
be willing to pay for them and identifying target customers. 6. Reliance Industries Limited: Reliance Industries Limited is an Indian multinational
conglomerate headquartered in Mumbai. Its businesses include energy, petrochemicals, natural
6. Content Marketing: Also known as copywriters, content marketers plan, research, create and
gas, retail, entertainment, telecommunications, mass media, and textiles
share various types of engaging, shareable content on multiple platforms for promotional
purposes. This can include articles, blogs, website copy, podcast scripts, video scripts, info 7. Mahindra: Mahindra & Mahindra Limited is an Indian multinational automotive
graphics, presentations, reports, whitepapers, advertising copy and ebooks. manufacturing corporation headquartered in Mumbai. It was established in 1945 as Mahindra &
Mohammed and later renamed Mahindra & Mahindra. Part of the Mahindra Group, M&M is one
7. Digital Marketing Strategist: Digital strategists identify a company's business goals and
of the largest vehicle manufacturers by production in India.
implement an appropriate digital marketing strategy to accomplish them. They usually
collaborate with other marketing professionals to plan and develop advertising strategies for 8. HDFC Bank: HDFC Bank Limited is an Indian banking and financial services company
online brand marketing headquartered in Mumbai. It is India's largest private sector bank by assets and the world's sixth-
largest bank by market capitalization as of January 2024, following its takeover of parent
8. Director of Marketing: The director of marketing is in charge of the marketing department
and oversees its daily operations. They usually supervise marketing campaigns, conduct
marketing research and evaluate marketing strategies. They may also develop pricing strategies
and advertising budgets, monitor the returns on investment and provide advice, support and Conclusion: It’s clear that there are common factors that contribute to the success of these Indian
direction to the marketing teams brands. First, these brands have a strong understanding of their customers. They are able to create
products that are more tailored to Indian customers. This is more important now than ever as the
Indian consumer class is changing how companies operate in the country.