NMIMS BBA – B.Com Principles of Marketing Solved Answer Assignment
14
Oct
2024
Principles of Marketing
Q1. You are the marketing director of Delta enterprises. Your company is launching a new range of color televisions for the Indian market. Create a distribution plan for the product. Create a communication and advertising plan. (10 Marks)
ANSWER
Introduction:
The most successful businesses know that to close agreements, their sales process must consistently pay attention to each phase. This is especially true when entering new markets. If you aren’t actively involved in each stage of the sales process, it will be impossible for you to manage it effectively. Distribution of products is a vital stage frequently neglected by businesses in favor of the simplest or most cost-effective solution rather than the development of a robust distribution plan. Distributing a good or service throughout the market is necessary to make it available for purchase.
Concept and Analysis:
The commercial interaction between a manufacturer and a consumer is called a distribution path. It refers to the process that a deal goes through. Distributors act as intermediaries between manufacturers and retailers, managing both the delivery and storage of products. These networks could be easy to understand or become more complicated. There are primary and secondary ways to get there. When a transaction takes place via a direct route, there is instant interaction between the customer and the producer.
Conclusion:
When dealing with wholesalers, brands must maintain close supervision of the process to prevent making retail implementation errors such as running out of stock and distribution voids.
Q2. You are the marketing director of Sports Authority of India. India does not have a sporting culture. You have been tasked to build national awareness so that young and old alike indulge in physical activity or sports. Create a marketing plan. (10 Marks)
ANSWER
Introduction:
Competition for customers’ discretionary spending is fierce in the entertainment industry, a demanding and fickle sector. This indicates that sports communities are responsible for acknowledging their marketing requirements and assuming that their devoted audience will continue to support them. It is necessary to take strategic steps to secure the company’s continued financial sustainability over the long term and to ensure that the product, price, distribution methods, and promotion all provide the company with the best possible opportunity to succeed.
Concept and Analysis:
When you develop and use sports-related products for marketing your business or product, you engage in “sports marketing.” This tried-and-true method of boosting sales uses the tremendous star power that comes with the world of athletics. The following are some ways that can be utilized to promote sports in a country such as India:
Create engaging content- One strategy sports marketers can employ to attract more customers is enlisting well-known players’ assistance in generating exciting content. You can access the networks of sports fans by taking advantage of the fact that they exchange content with their contemporaries.
Conclusion:
As marketing director for the Sports Authority of India, I will seriously consider the promotional techniques outlined in the preceding paragraphs. E-marketing and brand marketing are today’s essential instruments to spread knowledge about any sport among younger generations and promote any sport.
Q3. You are the marketing director for meta flix streaming service. You are launching a new entertainment video streaming service which will compete with SonyLiv, Disney plus, Netflix, amongst others.
Analyze the market situation and suggest solutions for acquiring and retaining subscribers. (5 Marks)
ANSWER
Introduction:
The proliferation of smartphones is a major driving force behind the expansion of the video and music streaming industries. The addition of smartphones and the ease with which people may connect to the internet are two significant factors that are considerably driving the growth of the market for online streaming services.
Concept and Analysis:
The internet is now more accessible to more people than ever before, and it is ingrained in our daily activities. The entertainment industry has also begun to participate in this digital movement, which has made the business of streaming platforms more tempting and lucrative while also providing a new and enhanced manner of consuming media whenever and wherever users choose to do so. The following is one way to do a SWOT analysis of the market for internet streaming services:
In conclusion, the Metaflix online service can expand its customer base by using the research conducted on previously established online streaming services. Due to the intense level of competition in the industry, it is crucial to meet the requirements and requirements of the consumer base.
Create a marketing plan for the service. Suggest any alternative revenue source that can be tapped. (5 Marks)
ANSWER
Introduction:
Most people are constantly on the move, and our world is much interconnected. A future in which going to the theater is no longer necessary because people watch movies on television instead. Streaming services such as Netflix, Disney+, HULU, Prime Video, Hotstar, and HBO+ all offer TV shows and movies that users may watch online.
Concept and analysis
Considering that streaming services are in the driver’s seat now, they should prioritize merging customer information from all platforms to set the foundation for long-term user loyalty and retention tactics for the post-COVID era. The following is a list of marketing methods that can be used for the internet service:
Conclusion:
As long as COVID-19 remains active, OTT video streaming subscriptions and income gains will remain at risk. To ensure that customers have a better experience overall, a market director is responsible for ensuring the following: To obtain an advantage over the competition, you should provide personalized communications to people across various platforms.
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