Marketing Management Solved Question Paper 2022
Dibrugarh University M.Com Final Year
Paper: 2022 (Marketing Management)
Full Marks – 80
Time: Three hours
The figures in the margin indicate full marks for the questions.
1.(a) Discuss about Marketing Management tasks in Modern Marketing. 16
Ans: Marketing management tasks in modern marketing involve planning, implementing, and controlling marketing efforts to reach specific goals. These tasks can be broken down into several key areas:
1.Market research: This involves collecting, analyzing, and interpreting data about target markets and consumers in order to inform marketing strategies.
2.Market segmentation: This involves dividing a larger market into smaller, more specific groups based on shared characteristics such as demographics, behaviors, or needs.
3.Target marketing: This involves selecting a specific group of consumers to focus marketing efforts on, based on the results of market research and segmentation.
4.Positioning: This involves creating a unique and differentiated image for a product or service in the minds of consumers, in relation to competing products or services.
5.Product development: This involves creating new products or improving existing products to meet the needs of target markets.
6.Pricing: This involves setting prices for products or services that are competitive and profitable.
7.Promotion: This involves using various marketing tools such as advertising, sales promotions, public relations, and personal selling to communicate with and persuade consumers to buy products or services.
8.Distribution: This involves choosing the most effective channels to get products or services to consumers, such as through retail stores, online platforms, or distributors.
9.Customer relationship management: This involves managing interactions with current and potential customers in order to build and maintain long-term relationships.
10.Social responsibility: This involves considering the ethical and social implications of marketing actions and striving to make a positive impact on society.
11.Marketing analytics: This involves using data and analytics to track and measure the effectiveness of marketing efforts, and to identify opportunities for improvement.
12.Marketing automation: This involves using software and technology to streamline and automate various marketing tasks, such as email marketing, social media management, and lead generation.
13.Content marketing: This involves creating and distributing valuable, relevant, and consistent content in order to attract and retain a clearly defined audience.
14.Influencer marketing: This involves partnering with influential individuals or organizations to promote products or services to their followers and fans.
15.Experience marketing: This involves creating immersive and engaging experiences for customers in order to build brand loyalty and advocacy.
16.Personalization: This involves using data and technology to customize marketing messages and experiences for individual customers or segments
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(b) Define Market and Marketing. Explain the role of third ‘P’ in Marketing. 4+4+8=16
Ans: Market: A market is a place where buyers and sellers exchange goods and services. Markets can be physical, such as a local farmers market, or virtual, such as an online marketplace.
Marketing: Marketing is the process of identifying, anticipating, and satisfying consumer needs and wants. It involves researching and understanding the needs and preferences of target markets, and then creating, promoting, and distributing products or services that meet those needs. Marketing also involves analyzing and adapting to changes in consumer behavior and the competitive environment.
The third 'P' in marketing refers to "promotion," which is one of the four elements of the marketing mix, also known as the "4Ps." The 4Ps are the key elements that marketers use to develop and implement their marketing strategies. The other three Ps are product, price, and place (distribution). Promotion involves using various marketing tools and techniques to communicate with and persuade consumers to buy products or services. These tools can include advertising, sales promotions, public relations, personal selling, and social media marketing. The third P plays a crucial role in attracting and retaining customers, as well as differentiating a product or service from competitors.
Some additional points to consider when discussing the third P in marketing:
- The promotion mix: The promotion mix refers to the specific tools and tactics that a company uses to communicate with and persuade its target audience. The promotion mix can include various tactics such as advertising, public relations, personal selling, sales promotions, and digital marketing. Companies can use a combination of these tactics to create a well-rounded promotion mix that effectively reaches their target audience.
- Integrated marketing communications: Integrated marketing communications (IMC) is the coordination and integration of all marketing communication tools, channels, and sources within an organization into a seamless program that maximizes the impact on consumers and other stakeholders. IMC helps ensure that all marketing messages are consistent and aligned with the overall marketing strategy.
- The importance of promotion in the overall marketing mix: While the other elements of the marketing mix (product, price, and place) are important, promotion can be particularly crucial in attracting and retaining customers. By effectively promoting a product or service, a company can create demand and differentiate itself from competitors. It's important for companies to carefully consider their promotion mix and develop strategies that effectively reach and persuade their target audience.
2. (a) What do you mean by consumer buying behaviour? Discuss in details about the consumer buying process. 4+12=16
Ans: Consumer buying behavior refers to the actions and decisions made by individuals and households when purchasing goods and services. It includes the psychological, emotional, and social factors that influence how and why consumers make purchases. Understanding consumer buying behavior is important for marketers, as it helps them develop effective marketing strategies and target their products or services to the right consumers.
The consumer buying process can be broken down into several stages:
1.Need recognition: This is the first step in the consumer buying process, and it occurs when a consumer recognizes a need or desire for a product or service. This need can be triggered by internal or external factors, such as a physical need or a desire to fit in with a social group.
2.Information search: Once a need has been recognized, the consumer will typically begin searching for information about potential products or services that can meet that need. This may involve conducting online research, asking friends or family for recommendations, or seeking out expert opinions.
3.Evaluation of alternatives: After gathering information, the consumer will typically evaluate the different options available to them and weigh the pros and cons of each. This process helps the consumer narrow down their options and choose the product or service that best meets their needs and budget.
4.Purchase decision: Once the consumer has evaluated their options, they will make a decision to purchase a product or service. This decision may be influenced by various factors such as price, quality, reputation, and convenience.
5.Post-purchase evaluation: After making a purchase, the consumer may evaluate their decision to determine whether it was a good one. This evaluation can influence the consumer's future purchasing behavior and brand loyalty.
6.Disposal: This final stage of the consumer buying process refers to what the consumer does with the product or service after they are finished using it. This can include disposal, recycling, or re-selling.
7.Influences on consumer buying behavior: There are several factors that can influence consumer buying behavior, including personal, psychological, and social factors. Personal factors such as age, income, education, and occupation can all affect what products or services a consumer is interested in and willing to purchase. Psychological factors such as motivation, perception, learning, and attitudes can also play a role in consumer buying behavior. Finally, social factors such as family, reference groups, and culture can influence what products or services a consumer is exposed to and considers purchasing.
Understanding the consumer buying process and the various factors that can influence it can help marketers develop more effective marketing strategies and target their products or services to the right consumers.
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(b) What are the components of MIS? Write the scope of Marketing Research. 8+8=16
Ans: The components of a Management Information System (MIS) typically include hardware, software, data, people, and processes.
1.Hardware: The hardware component of an MIS refers to the physical devices and equipment that make up the system. This can include computers, servers, storage devices, and networks. The hardware component is responsible for providing the necessary processing power, storage capacity, and connectivity to support the various software and data components of the system.
2.Software: The software component of an MIS refers to the programs and applications that run on the hardware and enable users to perform various tasks. This can include operating systems, database management systems, analytics software, and communication tools. The software component is responsible for providing the functionalities and features that allow users to access, manipulate, and analyze data, and to communicate with other stakeholders.
3.Data: The data component of an MIS refers to the information and data that is processed and stored by the system. This can include financial data, sales data, customer data, and market data. The data component is responsible for providing the information that is used by the system to support decision-making and other business processes.
4.People: The people component of an MIS refers to the users of the system, including managers, employees, and other stakeholders who rely on the system for information and decision-making. The people component is responsible for using the system in a way that is consistent with the organization's goals and objectives, and for providing feedback and suggestions for improvement.
5.Processes: The processes component of an MIS refers to the procedures and methods used to collect, process, and disseminate information through the system. This can include data input, data validation, data analysis, and report generation. The processes component is responsible for ensuring that the system is able to effectively support the various business processes of the organization.
3. (a) Write the concepts of Product Mix, Product Line and Product Items. What are the reasons behind the changes of Product Mix? 3+3+3+7=16
Ans: Product Mix: The product mix refers to the combination of different products that a company offers to its customers. It includes all the different product lines and items that the company produces or sells.
Product Line: A product line is a group of related products that are marketed as a unit. For example, a company that sells home appliances might have a product line that includes refrigerators, stoves, and dishwashers.
Product Items: Product items refer to individual products within a product line. For example, within the home appliance product line mentioned above, the refrigerators, stoves, and dishwashers would be individual product items.
Reasons behind the changes of Product Mix:
There are several reasons why a company may choose to change its product mix:
Changing consumer demand: As consumer tastes and preferences change, a company may need to adjust its product mix to stay relevant and meet the needs of its customers.
Market competition: If a company's competitors are offering products that are more popular or in demand, the company may need to change its product mix to remain competitive.
Company goals and strategy: A company may change its product mix to meet its long-term business goals and objectives. For example, a company may want to diversify its product mix to reduce risk or to enter new markets.
Technological advancements: New technologies can create new products or make existing products obsolete. As a result, a company may need to change its product mix to take advantage of these changes.
Changes in production capabilities: A company may need to change its product mix if it is no longer able to produce certain products due to changes in its production capabilities.
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(b) What do you mean by Price and Pricing? Discuss the factors affecting pricing decisions in Marketing. 4+12=16
Ans: Price: Price refers to the amount of money that a customer must pay to purchase a product or service. It is a key element of a company's marketing mix and plays a crucial role in the success of a business.
Pricing: Pricing refers to the process of determining the price at which a product or service will be offered for sale. It involves considering various factors, including the cost of production, the target market, and the competition, in order to set a price that will be attractive to customers and profitable for the business.
Factors affecting pricing decisions in Marketing:
There are many factors that can affect a company's pricing decisions, including:
Cost of production: The cost of production includes all the expenses that a company incurs in order to produce a product or deliver a service. These costs include materials, labor, and overhead. In order to set a profitable price, a company must consider the cost of production and ensure that the price covers these costs.
Target market: The target market refers to the specific group of consumers that a company is trying to reach with its products or services. Companies must consider the price sensitivity of their target market when setting prices. For example, if the target market is price-sensitive, the company may need to set a lower price in order to be competitive.
Competition: The level of competition in a market can also affect pricing decisions. If a company's competitors are offering similar products at lower prices, the company may need to lower its prices in order to remain competitive. On the other hand, if the company has a unique product or a strong brand, it may be able to charge a higher price.
Price elasticity of demand: The price elasticity of demand refers to the extent to which the demand for a product or service changes in response to a change in price. If the demand is elastic, a small change in price can result in a large change in demand. In this case, a company may need to be careful about raising prices too much. If the demand is inelastic, a change in price may have little impact on demand. In this case, the company may have more flexibility to set higher prices.
Marketing goals: A company's marketing goals can also influence its pricing decisions. For example, if the goal is to increase market share, the company may choose to lower prices in order to attract more customers. If the goal is to maximize profits, the company may choose to set higher prices.
Distribution channels:The distribution channels that a company uses can also affect its pricing decisions. For example, if the company sells its products through retail stores, it may need to consider the markup that the stores will add to the price. If the company sells directly to consumers, it may have more flexibility to set the price.
4. (a) What is Promotion Mix? Distinguish between Advertising and Personal Selling. 4+12=16
Ans: Promotion mix: The promotion mix refers to the various methods that a company uses to promote its products or services to its target market. The promotion mix includes advertising, personal selling, sales promotion, public relations, and direct marketing.
Advertising: Advertising is a form of communication that is used to promote a product, service, or idea to a large audience. It can take many forms, such as television commercials, print ads, online ads, and radio ads. Advertising is a non-personal form of communication that is paid for by the advertiser.
Personal selling: Personal selling is a form of promotion that involves face-to-face communication between a salesperson and a potential customer. It is a more personalized form of promotion than advertising and allows the salesperson to tailor their pitch to the specific needs and interests of the customer. Personal selling is often used in conjunction with other forms of promotion, such as advertising.
Distinction between Advertising and Personal Selling:
Here are some key differences between advertising and personal selling:
a).Target audience: Advertising is targeted at a large, general audience, while personal selling is targeted at a specific individual or group of individuals.
b).Reach: Advertising has a wider reach than personal selling, as it can be seen or heard by a large number of people at once. Personal selling is more limited in its reach, as it is only presented to one person at a time.
c).Cost: Advertising can be more expensive than personal selling, as it requires the development of an ad campaign and the purchase of ad space or airtime. Personal selling is typically more labor-intensive, as it involves the time and effort of the salesperson.
d).Flexibility: Advertising is less flexible than personal selling, as it is a one-way communication that cannot be easily customized to the specific needs of the audience. Personal selling allows for more flexibility, as the salesperson can tailor their pitch to the specific needs and interests of the customer.
e).Effectiveness: The effectiveness of advertising and personal selling can vary depending on the product, the target market, and the overall marketing strategy. Both can be effective in certain situations, and companies often use a combination of both in their promotion mix.
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(b) What are the components of physical distribution? Write in details about the appropriate marketing channels of products like –
(1) Health care services.
(2) Physical things or objects.
(3) Education (knowledge and skill) and
(4) Financial services. 8+2+2+2+2=16
Ans: Updating Soon as possible 🙂
5. Write briefly on any two of the following: 8x2=16
(a) Branding.
(b) Market Logistics.
(c) Consumerism.
(d) Consumer Adoption.
Answers :
(a) Branding:
Branding refers to the process of creating and establishing the identity of a product or company in the minds of consumers. It includes elements such as a company's name, logo, tagline, and overall visual and messaging strategy. The goal of branding is to create a strong and distinct brand that differentiates the company from its competitors and establishes an emotional connection with its target market.
(b) Market Logistics:
Market logistics refers to the process of planning, implementing, and controlling the efficient flow and storage of goods, services, and related information from the point of origin to the point of consumption. It involves coordinating activities such as transportation, warehousing, and distribution in order to deliver products to customers in a timely and cost-effective manner.
(c) Consumerism:
Consumerism refers to the belief that individuals should be able to freely buy and consume goods and services, and that this is a fundamental right. It is also associated with the idea that an increase in consumer spending can drive economic growth and improve society. Consumerism can also refer to the protection of consumer rights and the promotion of responsible and ethical business practices.
(d) Consumer Adoption:
Consumer adoption refers to the process by which a new product or service is accepted and adopted by consumers. It involves several stages, including awareness, interest, evaluation, trial, and adoption. Understanding consumer adoption can help companies identify and overcome any barriers to adoption and increase the chances of success for their products.
Note: The answers above are in very short form, please increase the length of the answer by yourself.
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