Define the term marketing. Discuss the scope and appropriateness of marketing function in satisfying human needs and wants. Given suitable examples
Section A :-
Case Study – 1
An electronic gadgets manufacturing firm wanted to market in India a small, handheld electronic instrument for measuring blood pressure at home. The price of the instrument was fixed at around Rs. 3000 a piece. Being a specialty product, it was perceived to have only a limited clientele. As the firm had no established channel of distribution, it decided to take the direct-marketing route. The product was unique in the sense that it offered the convenience of constant monitoring of blood pressure at home, in office or anywhere, without having to visit the doctor. It could save a lot of time and inconvenience, especially for busy professionals, executives, businessmen and all those who had a hectic work schedule. Since it was a relatively expensive product, senior executives, professionals and businessmen above 45 years of age, having an income of more than Rs. 15,000 per month were expected to be the prospective buyers. The firm adopted the following procedure for identifying and enlisting prospects. In order to prepare a cold list, an advertisement of the product, along with a coupon, was released in two leading business newspapers in Bombay. Interested individuals were asked to fill up the printed coupon and send it to the firm within 10 days to get a free booklet on management of blood pressure. Personal particulars relevant to identifying the ‘qualifying prospects’ Such as income, age, profession, residential address and details of any health-related problem were to be filled in the coupon. A majority of the people who responded were found to be suffering from blood pressure, obesity or heart-related problems. A cold list of about 5,000 individuals was generated on the basis of filled-in coupons. This list was further scrutinized and names of individuals below 40 years of age and those who did not fulfil the income criteria were dropped, as were the names of apparently non-serious respondents who might have sent the coupon more out of curiosity. The residual list of about3,500 respondents was treated as the hot list. Another alternative to this newspaper ad approach, as suggested by the research agency was to obtain a list of credit card holders from reputed banks such as ANZ Grindlays Bank, Citibank, Canara Bank, State Bank of India and Bank of Baroda. The firm could then have sorted out the names of card holders who were above the age of 40 and occupied senior executive positions in private or public organizations. This would have formed the cold list. Next, the firm could have sent a brochure and a personal letter to them offering to arrange a free demonstration of the product at their residences. All those who responded would have formed the hot list. However, this approach was not taken due to some logistic problems. The respondents were then clustered into different segments on the basis of their health status : those who had only mild blood pressure but no other problem; those suffering from obesity and blood pressure both; those suffering from blood pressure and some cardiac problem; those who had blood pressure and diabetes with or without some cardiac problem; and so on. This database of all the listed people with their detailed health profiles helped the firm in identifying specific needs of the respondents.
(a) What elements of promotion mix would be more appropriate for the company to market blood pressure instruments, and why?
(b) What should be the long run promotional strategy for the company?
Case Study – 2
For many years McDonald’s enjoyed worldwide success built on a few well-known, highly standard conditions. The company with the Golden Arches served a simple menu – hamburgers, french fries, and milkshakes orsoft drinks. The food was pricedlow, its quality was consistent, and it was served speedily from establishments that all looked alike and were extremely clean. In recent years, however, McDonald’s has seen its growth rate slow down and its dominant market position slip. Why? The changes been occuring in the company’s external environment. We will start with the population picture. Foir many years McDonals’s main customer group was young couples with several kids. Today, people are marrying ata much later age and families have fewer children, so Mc Donald’s traditional customer base is eroding. Then there are the cultural changes. Also consumers have become more health conscious. let’s face it – burgers, fries, and shakes are not exactly at the top of dietitians menu recommendations today. Consumers want convenience. in the past they hopped in the car and drove to McDonald’s. Today they can pop something into the microwave oven or phone domino’s to have a pizza delivered. Another challenge came as consumers became more concerned about physical environment. McDonald’s polystyrene hamburger packaging was attacked by people who demand the sue of recycled and or/ biodegradable products. Paralleling all these challenges were the growing number and effectiveness of competitors.
a ) i) Identify and discuss the major environmental changes being faced byMcDonald’s.
ii) What course of action should the company CEO pursue to regain its dominant market position?
b) What king of distribution channel would you recommend for the following products and why? i)Personal computers ii) Industrial lubricant
Case Study – 3
The furnishing limited is a small chain of distributors of good quality office furniture, carpets, safes and cabinets. Within each category, the company offers a wide variety of products, with a great many variations of each product being offered. For example, the company currently offers some 4 different designs of chairs and 23 varieties of office desks. The company keeps in touch with advances made in the office furniture field worldwide and introduces those products which are in keeping with the needs of the market in terms of design, workmanship, value for money and technical specifications. Fine furnishing trades only in good quality furniture. Differences between its products and cheaper, lower quality ones are well known to those who have several years of experience in the business. An important feature the company feels is the availability of a complete list of components of the furniture system. This enables customers to add bits and pieces of matching designs and colour in the furniture. Such components are available for sale separately. Systems are maintained in stock by the company for a number of years, and spare parts for chairs and other furniture are always available. The trade is currently witnessing a downturn due to recession. Fine furnishing hasl also experienced the same over the past two years. In addition, it had to trim its profit margins. Last year, it barely broke even and this year it is heading for a loss for the first time in the company’s twenty year history.
i) Explain the term product-item, product-line and product mix in the context of the above situation.
ii) Advice the companies in relation to its product mix. How will your recommendations affect the company’s image?
Case Study – 4
Hotel holiday Inn spends a large amount of money on a bonus programme for frequent hotel guests, while the hilton corporation, a direct competitor spends hardly a fifth of the amount spent by Holiday inn on it. Hilton puts most of its marketing resources into nationwide print and television advertisements, while holiday inn does little of either. Traditionally, demand for hotel rooms has outpaced supply. But now cities have too many hotels; occupancy rates have come down and the room rates have also come down. Holiday inn believes that with its bonus programme, they can gather detailed information about the frequent customers and they can be approached through direct main, and also offer incentives like free meals, free stay in hotels particularly where occupancy is low. Yet competitors such as Jilton are of opinion that Holiday Inn is merely rewarding guests who would otherwise also stay at Holiday Inn.
i) How is marketing a service different from marketing a good?
ii) What techniques Holiday inn should use to fill more rooms?
Section B :-
1 a). Discuss the scope and relevance of the concept of market segmentation. Will the scope change with the opening of Indian economy? Illustrate how firms would be benefited in marketing their products and services by segmentation.
b) Briefly discuss the concept of positioning. What is the positioning of i) Santro car ii) Indian airlines iii) Pepsi iv) Dalda ghee
a) Discuss in brief the various pricing strategies used by marketers. Suggest suitable pricing strategy for i) Software ii) 100 cc motorcycle iii) Luxury car iv) Laptop
b) How is a product management organization different from the market centred organization?
a) Enumerate and discuss the major packaging decisions appropriate for the following
i) FMCG company
ii) Consumer durable company
b) Discuss the marketing strategies that may be used at the introductory and maturity stages of the product life cycle. promotion methods directed at consumers, which can be used by a detergent manufacturer.
b) Discuss the role of personal selling and advertising in promotional industrial products. How does it compare to consumer product promotion?
a) Middlemen are parasites. This charge has been made by many over the centuries. Is this likely to be the case in a competitive economic system? Why or why not?
b) You are marketing manager of a medium sized manufacturing company. The president has just made the following statement “The distribution activity is not a concern of the marketing department. The function of the marketing department is to sell the product … let be rest of the company handle production and distribution.” How would you reply to this statement. Discuss whether you agree or disagree with the statement and justify your answer.
(a) Define the term marketing. Discuss the scope and appropriateness of marketing function in satisfying human needs and wants. Given suitable examples.
(b) As a marketing manager, propose and formulate STP strategy for home fitness kit targeted at women. Discuss the base for your strategy.
Write short notes on any three of the following:
STP strategies b) Functions of Packaging c) Elements of promotion mix d) Methods of sales forecasting
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