SKY EDUCATION

T.Y.B.COM
SEMESTER V
COMMERCE
MODULE 1 : INTRODUCTION TO MARKETING

1. Importance of marketing mix

Ans:
Introduction:
Effective marketing is required to generate demand for goods and services. Apart from creating demand, effective
marketing generates customer satisfaction, enhances corporate image, enables the firm to gain competitive advantage,
maintains customer relationship, develops brand image, enhances brand equity, sustains brand loyalty, facilitates
business expansion, and so on.(SHORTCODE : COCO Branding Benefits)
1. Competitive Advantage : Effective marketing helps to face competition in the market. Professional marketers are
proactive in decision-making. They come up with:
 Innovative designs or models.
 Charging competitive prices.
 Creative promotion schemes.
 Efficient after-sale-service.
 Coco Branding Benefits
 Effective customer relationship techniques, etc.
2. Customer Satisfaction : Today's marketing is customer oriented. Business firms place lot of emphasis on customer
satisfaction. Customer satisfaction is the outcome of a correlation between product performance and customer
expectation:
 When product performance is below customer expectation, the customer is dissatisfied.
 When product performance matches with customer expectation, the customer is satisfied
3. Organisational objectives : Marketing helps to achieve organisational objectives. Systematic marketing activities such
as effective product designs, pricing, promotion and distribution helps a firm to increase its sales and achieve the
following objectives:
 Increase in profits
 Improved brand image
 Increase in market share
 Improved corporate Image
 Enhanced customer loyalty, etc
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 attains higher performance. Therefore, corporate image improves in the
minds of: Employees, Customers, Dealers, Suppliers, Shareholders and other stakeholders.
5. Customer Relationship: Nowadays, it is vital to maintain excellent relationship with customers in order to maintain
and enhance customer loyalty. Several marketing techniques can be adopted to maintain customer relationships which
include:
 Loyalty programmes such as special discounts/gifts to loyal customers.
 One-to-one marketing.
 Priority customer programmes.
 Excellent after-sale-service.
 Satisfaction surveys, etc.
6. Optimum use of resources : Due to effective marketing, the company gets higher demand for goods/services. Increase
in demand leads to higher production and distribution. Therefore, a firm can make optimum use of resources such as:
 Physical resources - machines, equipments, tools, etc.
 Capital resources-working capital funds and fixed capitalfunds.
 Manpower-managerial and non-managerial employees.
7. Brand Loyalty : Effective marketing helps to develop brand loyalty. Brand loyalty refers to:
 Repeat purchases of the brand by satisfied/delighted customers.
 Recommendations of the brand by satisfied customers to friends, neighbours and others.
8. 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 to pay premium price for effectively marketed brands..
9. Brand Image: Marketing activities improve brand image. Brand image is the perception of the brand in the minds of
customers. Good brand image gives competitive edge to the firm in the market.
10. Benefits to Stakeholders : Effective marketing brings in higher returns to the firm. The higher returns of the firm
benefit various stakeholders:
 Employees may get high salaries and other incentives.
 Shareholders get higher dividends.
 Government gets higher tax revenue.
 Dealers may get extra incentives.
 Suppliers may get more orders and payment on time.
 Society may be benefited to social development activities by profitable firms.

2.MIS
Ans:
Introduction:
Marketing information includes all the data, in terms of facts, opinions, views, guidelines and policies, which are
necessary to make vital marketing decisions. The data is collected from customers, competitors, company sales-force and
other staff, government sources, specialized agencies and sources.(SHORTCODE : C – SUPEr Fast)
1. Continuous in nature: The MIS activity is continuous in nature. There is constant need to collect relevant marketing
data relating to the environment such as competitors' strategies, Government policies, customers requirements, changes
in international environment, etc.
2. Cost & effective Information : There is no sense in collecting whatever information that is available in the market. MIS
facilitates the collection of only relevant information
3. Components of MIS : MIS consists of four components:
(a) Internal Records.
(b) Marketing Intelligence system
(c) Marketing research
(d) Marketing Decision support system.
4. Systematic Process: MIS is a systematic process of collecting and maintaining record of marketing information. The
MIS process consists of :
 Gathering marketing information.
 Sorting/ classification of data.
 Analyzing marketing data.
 Transmitting the data to marketing decision makers.
5. Unified and Centralised System : There are several information components (internal records, marketing research,
etc.) in every MIS. Also, there are several activities in each component collection of data, processing, storing and
transmission. The components and the activities must be integrated into a unified system.
6. Use of Latest Techniques : MIS makes use of latest techniques such as sophisticated computers, micro-films etc. The
sophisticated tools and techniques enable the MIS staff to collect, store and process meaningful information, which can
be transmitted to marketing managers to make effective decisions.
7. Professional Approach : There is need to adopt professional approach towards MIS. The MIS data must be collected,
classified, analysed, and transmitted systematically to the marketing managers to take appropriate marketing decisions
in respect of product design, pricing, promotion, etc. Therefore, a company must:
 Select the right staff.
 Train the MIS staff to collect and analyse the data properly.
 Motivate the staff so that the staff works with commitment and dedication.
8. Ensures regular supply of Information: There is a constant and continuous need to make marketing decisions. This is
because of the constant and continuous changes in the business environment. Therefore, to make effective decisions,
MIS ensures regular supply of information
9. Future Oriented : To manage the business well, marketing managers should be future oriented. Therefore, MIS should
be in a position to provide information to solve problems that may crop up in future. More emphasis must be placed on
future oriented information rather than past oriented information.

3. Explain in details any two factors influencing consumer behavior. (Oct.18)

Ans:
Introduction:
Engel, Blackwell and Mansard define “Consumer behaviour as the actions and decisions processes of people who
purchase goods and services for personal consumption.”
Louden and Bitta define “Consumer behaviour is the decision process and physical activity, which individuals engage in
when evaluating acquiring, using or disposing of goods and services.”(SHORTCODE : MP’S)
I. Marketing Factors : The marketing-mix variables greatly influence the consumer buying behaviour. The marketing
variables include: (4 P’s)
i. Product: The features of the product, packaging and so on.
ii. Pricing: Premium pricing strategy may appeal to upper income groups and value pricing may appeal to price sensitive
customers.
iii. Promotion: The elements of promotion – mix include publicity, advertising, sales promotion, Salesmanship and so on.
iv. Place : The type of channels, area coverage and so on.
II. Personal Factors : The personal Factors of a consumer may affect the buying decisions. The personal Factors includes:
(AGE)
i. Age factor: The age factor influences buying behaviour. Fir instance, teenagers may prefer trendy clothes, whereas,
office –executives may prefer sober and formal clothing.
ii. Gender : The consumer behaviour varies across gender. Fir instance, girls may prefer certain feminine colours such as
pink and purple whereas; boys may go for blue and brown.
iii. Education: Highly educated persons may spend on books and personal care products, whereas a person with low
education may spend less on such products.
III. Psychological factors: A persons buying behaviour is influenced by psychological factors such as follows: (LAMP)
i. Learning : Learning takes place through information (advertising, publicity) and experience. For example, when a
customer buys a new brand of perfume and experiences satisfaction from its use, he is likely to be brand loyal.
ii. Attitude: It is a tendency to respond in a given manner to a particular situation or object or idea. Consumers may
develop a positive, or negative or neutral attitude towards certain products or brands, which in turn would affect his/her
buying behaviour.
iii. Motives : A motive is the inner drive that motivates a person to act or behave in a certain manner. The marketer must
identify the buying motives of the target customers and influence them to respond positively. Some of the buying
motives include: Pride and possession, Love and affection, Comfort and convenience, etc.
iv. Perception: It is the impression, which one forms about a certain situation or object. For instance, a student may
perceive examinations as an important event and therefore, he/she would make every possible effort including purchase
of new stationery like pens, whereas, another student may be casual about the examinations and therefore, would not
make extra efforts.
IV. Situational Influences : (PTM’S)
i. Physical surroundings: The physical surroundings at the place of purchase influences buying behaviour. For instance,
location of the store, the décor, the layout of the store, the way merchandise is displayed, etc., influences buying
behaviour.
ii. Time factor: Customers may make different decisions depending on the hour of the day, the day of the week, or the
season of the year. For instance, a customer may shop more on his salary day.
iii. Momentary Conditions: The moods and condition of the customer at the time of purchase may also affect the buying
decision. A customer in a happy mood may make a different buying decision, as compared to when he is not happy.
iv. Social Factors: The social surroundings involve the other person(s) with the customer at the point of purchase. For
instance, a bargain hunter shopping with an impatient friend may do quick purchases and may not haggle over the price.

4. Discuss the various components of Marketing Information System. (Oct.18)

Ans:
Introduction:
Marketing information includes all the data, in terms of facts, opinions, views, guidelines and policies, which are
necessary to make vital marketing decisions. The data is collected from customers, competitors, company sales-force and
other staff, government sources, specialized agencies and sources.(SHORTCODE : IMM)
1. Internal Records : A company maintains internal records for the purpose of marketing decisions. The internal records
relating to marketing include: sales records - (area wise, product wise, period wise), salesforce performance records, test
marketing reports, promotion-mix records, marketing and distribution
 Purposes of Internal Records:
 To decide promotional activities such as advertising, sales promotion, etc.
 To ensure proper pricing of the products.
 To ensure proper design of product to meet customerrequirements.
 To decide about the place and channels of distribution.
2. Marketing Intelligence: Market intelligence is the information relevant to a company's markets, gathered and analyzed
specifically for the purpose ofidentifying market opportunity, and to design product development, market penetration
and market development strategies.
Objectives of Marketing Intelligence:
 To identify market opportunities.
 To identify market trends.
 To analyse competitors' moves so as to decide counter measures.
 To launch new products in the market with the help of product development strategy.
3. Marketing Research : It is a systematic gathering, recording, analyzing of data about problems relating to marketing of
goods and services.
Importance of Marketing research:
 It enable a firm to gain competitive advantage in the market.
 It improves corporate image of the firm.
 It facilitates customer satisfaction.
 It helps to achieve firm's objectives, etc.
5. What is Marketing? Discuss its scope
Ans:
Introduction:
Marketing is a vital functional area of a business organisation. The success of a business organisation largely depends on
the performance of marketing department. Marketing is instrumental to create demand for the firm's products.
Apart from creating demand, effective marketing generates customer satisfaction, enhances corporate image, enables
the firm to gain competitive advantage, maintains customer relationship, develops brand image, enhances brand equity,
sustains brand loyalty, facilitates business expansion, and so on.(SHORTCODE : SMASH HIT CO.)
1.Systematic process : Marketing is a systematic process of identifying customer needs and wants; and satisfying them
by designing and delivering the right products.
The marketing process involves:
 Designing the product as per customer requirements.
 Fixing the right price.
 Effective promotion of product.
 Distributing the products at the right place.
2.Marketing environment : Marketing is influenced by various environmental factors such as customer preferences,
competitors' strategies, Government policies, international environment, economic conditions,. financial climate, etc.
3.All pervasive : The process of marketing is applicable not only to business organisations but also to non-business
organisations.
For example, an educational institution may adopt marketing approach to:
 Offer the right courses (product).
 Charge the right fees (price).
 Promote the courses (if so required).
 Provide the courses at the right place.
4.Societal interest : Modern marketing intends to maintain and enhance customers' and society's welfare. Marketers
aims at a balance between: Profits+ Customer Satisfaction + Public Interest.
5.Helps to enhance corporate image : Effective marketing enables a firm to develop and enhance its no corporate image.
With the help of effective marketing (right product, price, etc.,) à firm achieves higher performance in terms of sales,
market share, and profits. As a result, corporate image improves in the minds of stakeholders such as: Customers,
Dealers, Employees, Suppliers, Shareholders and others.
6.Idea good and services : Marketing is undertaken to design and sell goods and services, as well as ideas.
(a) Marketers design and distribute tangible goods like FMCG products and consumer durables.
(b) Marketers sell intangible services such as that of banks, airlines, hotels, insurance, etc.
(c) Also, ideas are marketed by social and Govt. organisations, which includes campaigns relating to anti-drugs, AIDS
awareness, anti-corruption, etc.
7.Target market : Marketing is concerned with target markets. One cannot sell everything to everyone or anything to
anyone. Therefore, marketers have to be selective in deciding the target market or buyers.
A marketer needs to design goods and services to a particular target segment or market.
8.Customer satisfaction : Nowadays, marketers place emphasis on customer satisfaction Customer satisfaction is the
outcome of a correlation between product performance and customer expectations:
 When product performance matches with customer expectation, the customers are satisfied.
 When product performance is below customer expectation, the customers are dissatisfied.
 When product performance exceeds customer expectation, the customers are delighted.
 When product performance exceeds very much more than expectation, the customers get astonished.
9. Organisational objectives : Effective marketing enables the firm to achieve marketing objectives. The marketing
objectives are as follows:
 Increase in profits.
  Increase in market share.
 Improved corporate image.
 Improved brand image.
 Enhanced brand loyalty, etc.

6. Explain the term Market Segmentation? What are the bases of Market segmentation? (Oct.19)
Ans:
Introduction:
Market segmentation refers to subdividing a larger market into smaller submarkets. In the words of William Stanton,
"Market segmentation is the process of dividing the total, heterogeneous market for a product into several sub markets
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 desires or
requirements."(SHORTCODE: GDP – BS)
1. Geographic : (SHORTCODE : RULe)
Region: Regional segmentation is undertaken because of differences in buying behaviour of customers belonging to
different regions. For example, customers from western India may prefer lighter shades of clothes, whereas, southern
India customers may prefer darker and brighter shades.
Urban/Rural: There are differences in buying behaviour of urban and rural customers. For instance, rural customers are
more price sensitive as compared to urban customers.
Locality: Buying behaviour is also influenced by the locality 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.
2. Demographic : (SHORTCODE : AGE)
Demography refers to study about the different aspects of population. Markets can be divided on demographic factors
like age, gender, education etc. The various demographic factors are:
Age: The markets can be segmented by age groups, such as children, youth, middle-aged and senior citizens.
Gender: Marketers can segment the markets based on gender preferences. Examples include that of textiles and
clothing, personal care products, perfumes, footwear, etc.
Education: Market can be segmented on the basis of education. Most studies 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 life style and personality.
Life-Style: Sellers study the life-styles of the consumers. For example, a manufacturer of readymade garments may
design the clothes differently matching different life styles of college-students (more fashionable), office-goers (more
sober) and so on.
Personality: Personality characteristics such as leadership. independence, masculine, impulsive, ambitious, etc., do
influence buying behaviour.
4. Behaviour : In this case, buyers are divided into groups on the basis 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 market is by product usage. There can be heavy users, medium users, light
users and nonusers. The seller would like to increase consumption by present users and induce nonusers to become
users.
User Status: Market can be segmented on the basis of user status such as: non-user, ex-user, potential user, first-time
user, regular- user and so on.
5. Sociographic : The market can be segmented on the basis of sociological factors such as:
Culture: The marketer may consider cultural influences while segmenting markets. For instance, youth in urban areas are
influenced to a certain extent by western culture, whereas, youth in villages follow more or less traditional culture.
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.
7. What is data mining? Discuss its significance in marketing. (Oct.19)
Ans:
Introduction:
Data mining is a process of extracting useful data from a larger set of raw data for the purpose of effective decision-
making. Data mining is used in various fields such as business (insurance, banking,retail, consultancy services,
communications), scientific research (astronomy, engineering, medicine) and government security (detection of
terrorists and criminals).(SHORTCODE: HeLP CID)
1. Higher customer equity: The main aim of Data Mining is to produce high customer equity. Customer equity is the sum
of lifetime values of all customers. Firms focus the marketing efforts more on the most valuable customers (MVCs). More
focus on MVCS enables a firm to increase customer equity.
2. Higher returns : Due to Data Mining, the company is in a position to generate higher return on investment. This is
because of repeat purchases on the part of loyal customers. Also the company makes money through cross selling
(selling many products rather than single product) and up-selling (selling higher value products).
3. Lower operating cost : Data Mining enables business firms to lower operating costs. It is said that a 2 per cent increase
in customer retention has the same effect as reducing costs by 10%. Retained customers require less of persuasion
through advertising, publicity, salesmanship, and so on.
4. Lower customer defection: Data Mining emphasizes on training and development of employees to become more
customer oriented. Due to Data Mining training and development, employees show care and concern towards the
valuable customers. Therefore, the customer defection rate may be very less.
5. Promotion – mix : Data mining helps to target the right market segments. Therefore, data mining enables a company
to develop effective promotion-mx depending upon the market segments. Promotion-mix involves publicity, advertising,
sales- promotion, salesmanship, etc.
6. Pricing of products: Data mining helps to identify different groups of buyers such as price sensitive and non-price
sensitive customers. Therefore a company can adopt different pricing strategies for different markets. For instance,
prices charged to price sensitive customers would be lower and accordingly, the product and promotional efforts are
adjusted.
7. Consumer behaviour: Data mining helps to understand consumer behaviour. For instance, the retail giant Wal-Mart
transmits all its relevant information to a data warehouse with terabytes of data. This data can easily be accessed by
suppliers enabling them to identify customer buying patterns. They can generate patterns on shopping habits, most
shopped days, most sought products, and other data utilizing data mining techniques. Accordingly, the suppliers can
decide which products to assemble/produce more, when to supply more, etc.
8. Customer loyalty: Data Mining enables business firms to maintain detailed information about individual customers.
The constant monitoring and management of customer related information enables business firms to design product
offerings as per the requirements of its customers. Therefore, Data Mining helps to develop customer loyalty:
 Repeat purchases of the brand by satisfied customers.
 Recommendations of the brand by satisfied customers to others relatives, friends, and others.
9. Competitive Advantage: Business firms that adopt Data Mining gain competitive advantage in the market. Due to Data
Mining, firms are in better position to design customised products.
10. Corporate Image: Due to data mining, the image of the firm gets enhanced. Loyal 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.
11. Customised market offering: Companies can customize a product or service depending upon the data available with
the firm. Data Mining enables a firm to interact with its customers through the company contact center and Web site.
Such interaction enables the firm to know individual customer requirements and accordingly design customised
products.
12. Improved service to customers: With data mining, the company can provide better service to its regular and valuable
customers. It is said that 20% of customers account for 80% of the sales. Therefore, it is worth targeting the important
customers and then to provide them special service as compared to other customers.
13. Distribution strategies: Data mining facilitates the adoption of suitable distribution strategies. Different groups of
buyers may require different distribution strategies. For example, when a product is of very high quality intended to the
upper rich class (such as Rolex, Rolls Royce), it must be distributed at prestigious outlets located at selected places.

8. Explain Function of Marketing.

Ans:
Introduction:
Marketing is a vital functional area of a business organisation. The success of a business organisation largely depends on
the performance of marketing department. Marketing is instrumental to create demand for the firm's products.
Apart from creating demand, effective marketing generates customer satisfaction, enhances corporate image, enables
the firm to gain competitive advantage, maintains customer relationship, develops brand image, enhances brand equity,
sustains brand loyalty, facilitates business expansion, and so on. (SHORTCODE : MBA PASS)
1. Marketing research: It is one of the important areas of marketing. Marketing researchis a process which consists of
systematic gathering, recording and analyzing data about marketing problems. Marketing research helps to design
effective marketing plans to design and sell products in the market
The two main areas of marketing research are:
 Consumer research
 Dealer research
2. MIS management: In large business firms, marketing managers have to manage marketing information system (MIS).
A systematic MIS enables business firms to gather, analyse, and distribute accurate information to marketing decision-
makers.
The MIS consists of the following four components:
 Internal records in respect of costs, sales, profits, and so on.
 Marketing intelligence system information of competitors, marketing trends, etc.
 Marketing research to solve specific marketing problems.
3. Branding: Branding is an important aspect in today's competitive business world. The marketer must consider certain
essentials while selecting a suitable brand name for a particular product. Some of the essentials of a good brand name
include:
 Capable of describing features such as Duracell and All Clear.
 Universal usage - which can be used world-wide such as Pepsi and Coca Cola.
 Relevant to the product such as Fair & Lovely and Revital.
 Easy to pronounce such as Lux and Limca.
4. Advertising: Now-a-days, advertising is considered to be one of the most effective ways of promoting goods and
services. Advertising is the paid form of non-personal promotion of ideas, goods and services by an identified sponsor.
The main objective of advertising is to create awareness of the product.
The other objectives of advertising include:
 To develop positive attitude.
 To develop brand image.
 To enhance brand loyalty.
 To face competition in the market.
5. Product design: Firms need to come up with new product designs or models to cater to the satisfaction of customers.
Introduction of new product designs helps to generate goodwill in the market, which in turn expands the business.
6. Pricing: Price refers to the exchange value at which the seller is willing to sell and the buyer is willing to buy. Effective
pricing policy is vital to the success of the product in the market. The price should be right and within the lines of the
competitors.
While fixing the price, the marketer must consider certain factors:
 Cost of production and distribution.
 Competition in the market.
 Corporate image.
 Customers' Nature.
7. Physical distribution: It includes place of distribution and the channels used for distribution. Consumers want
products to be available at the convenient place and on time. For this purpose, the marketer can select either the direct
or indirect channel to reach the products to the buyers.
The factors influencing channel selection include:
Channel adopted by the competitors.
Customers' nature.
Corporate image of the firm.
8. After – sale – service : Effective after-sale-service is vital, especially in the case of office equipment, machinery and
consumer durables. To promote corporate image, the marketer must provide effective after-sale- service.
Firms must not wait for the customers' reminders to provide after-sale-service. The firm must be proactive in after-sale-
service management
9. Sales promotion: Sales promotion is an important element of promotion mix Sales promotion involves various tools to
induce the customers to buy the products. The sales promotion tools include:
 Buy-back offers.
 Banded or Combo Products.
 Coupons or cash vouchers.
 Discounts.
 Exchange Offers.
10: Salesmanship : One of the important areas of marketing involves personal selling. The personal selling staff or the
sales force makes a big difference not only in promoting the products but also in generating goodwill of the firm.
For personal selling to be effective, there is a need for:
 Proper selection of sales force. Apart from interviews, relevant selection tests may be conducted, such as
personality test, aptitude test, interest test, etc.
 Training must be provided to the sales force to develop knowledge, attitude, skills and social behaviour.
 MODULE 2: MARKETING DECISIONS – I
1. Component of Marketing Mix.
Ans:
Introduction:
Marketing-mix refers to the marketing variables that combine to sell a product to the target market. In 1960, McCarthy
in his book "Basic Marketing", popularised a four factor classification, the so called "4Ps": Product, Price, Place
(Distribution), and Promotion.(SHORTCODE: 7 P’s)
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 product can be ideas, goods and services that can generate customer
satisfaction.
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 nor too low. If the price is too high, the customer's may prefer competitor's product
and if it is too low, the firm may not get adequate returns and also the buyers may equate too low price to low quality.
3. Promotion: Promotion involves all the activities the company undertakes to communicate and promote its products to
the target market .
Promotion mix consists of advertising, sales promotion, public relations, publicity, personal selling, and direct and on-line
marketing.
4. Place : Place includes the various activities the company to make the product available to target audience. undertakes
The place mix involves - Distribution Channels, Dealer Relations, Channel Remuneration, Area Coverage, Transport, and
so on.
5. Pace : Pace refers to the speed at which marketing decisions and actions are taken. Marketers consider Pace as an
importantelement of marketing mix. Due to stiff competition, decisions taken at the right speed can give competitive
advantage to the firm.
6. Packaging: Packaging is an important aspect of the product itself. Now-a- days, packaging has gained great significance
in the marketing of products, therefore, marketers consider packaging as an important element of marketing-mix.
7. Positioning: Product positioning aims at creating and maintaining a distinct image of the brand in the minds of target
customers.
If the product is positioned effectively, then the marketer is assured of higher sales of the product.

2. Product Life Cycle.

Ans:
Introduction:
A product passes through different stages or phases during its lifetime. The main stages of product life-cycle are as
follows: (SHORTCODE : IG – MD)
1. Introduction: The introduction stage begins when a new product is launched for the first time in the market.
Objective: To create product awareness.
The main features of introduction stage are:
 Generally, low or moderate sales depending upon the type of product.
 The company may introduce limited product range.
 The company may make low profit, and may even suffer losses due to high overhead expenditure.
2. Growth : During the growth stage, demand for the product increases. The company may also increase its profits and
market share.

Objective: To increase the market share and profits.

The main features of growth stage are:
 Increase in sales and increase in market share.
 There may be rise in profits.
  The firm may increase product range with new models.
3. Maturity : During this stage, the sales remain more or less stagnant, and profits and market share may tend to decline.
Objective. To defend market share.
This stage is characterized by:
 Sales remain more or less stagnant.
 Decline in profits due to increase in marketing costs.
 Decline in market share.
4. Decline : In the decline stage, sales decline due to lower demand from customers. The marketer may reposition the
product or modify the product or even take a decision to drop the product from the product mix.
Objective: To cut down the costs and reduce the losses.
This stage is characterized by:
 Decline in sales.
 Decline in Profits. The company may face losses.
 Withdrawal or modification of the product.

3. Factors Influencing Brand Equity.

Ans:
Introduction:
Every brand has a value, and the value of a brand is brand equity. Brand equity must not be confused with brand
personality or image Edward Tauber defines brand equity as "The incremental value of a business above the value of its
physical assets due to the marketposition achieved by its brand and the extension potential of the brand.” (SHORTCODE :
6 B’s)
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 provided the existing customers are satisfied with the brand.
Satisfaction of customers results in brand loyalty. Satisfied customers continue to use the brand, even though
competitors make enough efforts to win them over.
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 linking product class and brand Buyers often buy a known
brand. Familiarity of a brand makes it more reliable in the minds of the buyers.
3. Brand associations : A brand association is anything "linked" to a brand. The underlying value of a brand name often is
based upon associations linked to it. Like perceived quality, brand associations do influence purchase decisions and
brand loyalty.
4. Brand ambassadors: Some marketing experts claim that brand ambassadors can enhance brand equity. For instance,
the Lux soap is associated with female film stars and positioned as the beauty soap of film stars.
5. Brand patent: Companies products. They need to register under the Patent Act of respective countries where they
want to patent it. For instance, can obtain brand patents for new and innovative in India products may be registered
under Patents (Amendment) Act 2005.
6. Brand logo : Brand logo can enhance brand equity. The brand logo like brand names facilitates instant identity of the
brand. Some of the brands that have unique logo include Apple, Nike, McDonalds, Mercedes, Audi (4 rings), Reebok,
Pepsi, and so on.

4. Essentials of Good Package.

Ans:
Introduction:
The terms Packaging and Packing are used inter changeably. However there is a difference between the two terms.
Packing refers to protective covering used for transportation of goods, whereas, Packaging refers to the containers in
which products reach to the ultimate consumer. Packaging can also be referred as a process of developing and designing
packages.(SHORTCODE : CID – BASE)
1. Convenience to customers: Packages should offer convenience in the case of carrying, handling and using the product.
They must come in convenient sizes and shapes as per the requirements of the customers.
2. Convenience to dealers : The dealers must not find difficulty in storing the products. The packages should not be
unnecessarily bulky so as to avoid the wastage of space on the shelves or racks.
3. Dependable: Consumers often rely on the packages and buy the product. Whatever is indicated on the package must
be available inside the package in terms of quality, and quantity.
4. Buyers specifications: Packing should also conform to buyer's specifications. If buyer has ordered special type of
packing, then such instructions must be followed in designing and producing packages.
5. Attractive: Packages must be attractive. They should attract the attention of the prospects or buyers and make them
to buy the product. It should have the advertising value.
6. Suitability: A good package must be suitable to the product For instance, medicines must preferably come in glass
bottles and not in plastic bottles. Again, glassware should be packed with cushioning material.
7. Ease in Identification: Packages should be such that they are easily identifiable by the customers, dealers, and others.
The printed matter and symbols, or marks on the packages must be such that the customers are familiar with.
8. Ease in Displaying: Packages must be convenient to the showcases or on the racks at the stores. They should h display
in attractive, compact and conveniently displayable.

5. Objective of Pricing.
Ans:
Introduction:
Price is an important element of marketing-mix. Price is the exchange value. Developing a right pricing strategy is critical
to an organisation's success. Price is a significant variable, as in many cases; it is the main factor affecting consumer
choice. Its significance is further emphasized as it is the only element of marketing mix that generates revenues and the
others produce costs.(SHORTCODE : SCaM)
1. Survival : It is the most important objective of pricing; especially when companies are faced with the problem of over-
capacity, intense competition, or changing consumer wants. Most firms adopt survival objective during recession, when
customers on an average have less money to spend.
2. Sales objectives: Forms also fix prices in order to attain sales objectives. The sales objectives can be expressed in two
ways :
(a) Market Share Growth
(b) Sales Growth
3. Social responsibility objectives: Social responsibility objectives often play a major role in pricing decisions of the
government and of non-profit organisations. Even professionals like doctors may adopt social responsibility as their
pricing objective.
4. Competitive – effect objectives: At times, a firm may. deliberately seek to reduce the effectiveness of one or more
competitors. It may fix its prices in such a way that it would. enable it to win over competitors' customers. For instance, a
departmental store can offer a heavy discount in early December on garments, footwear, etc., directed at Christmas
shoppers so as to win over customers from other departmental stores/retail shops.
5. Customer satisfaction objectives: A good number of quality- focused firms believe that profits result from customer
satisfaction, as the primary objective. They believe that by focusing solely on short-term profits, a company loses sight of
winning customers and retaining them. These firms instead develop pricing objectives based on pleasing customers over
the long term.
6. Market skimming objectives: The firms that launch a new product in a market may adopt the market skimming
strategy In this case, the product is launched at a high price, and then gradually it is reduced over a period of time.
Skimming, apar from other benefits, helps a firm to recover high development costs associated with new products. For
market skimming to be successful, there must be certain conditions, such as:
 The firm must have a degree of security in the form of patents.
 The product must have unique selling proposition.
7. Market entry barrier objectives: Firms may adopt low price strategy with the objective of preventing others from
entering the market. The potential entrants would recognize the low returns available and the dangers of getting
involved in a price war. In this way, existing firms may be able to minimise the amount of competition in the market.

6. Factor Affecting Pricing.

Ans:
Introduction:
Price is an important element of marketing mix. It is the exchange value of the product. Pricing of the product depends
on several factors. The factors influencing pricing can be broadly divided into two groups:
I. Internal Factors : (SHORTCODE : COP)
1. Costs:
A firm while fixing prices should consider the costs for producing the 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. However, if
a firm is selling bulk of its supplies in the home market, and a part of production in the overseas market, then all the
fixed costs may be recovered from the home market, and only variable costs may be charged for the overseas markets.
2. Corporate Image:
The firms enjoying a good image in the market may charge higher price, as compared to those firms which do not enjoy
reputation in the market. This is because; consumers have trust and confidence in the firms 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 the market.
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 firm. For instance, if the objective of a firm is to increase return on investment, then it may charge a
higher price, and if the objective is to capture a large market share, then it may charge a lower price.
4. Product:
If a product is of superior quality, then a firm may either adopt premium strategy or high value strategy.
 In premium pricing, the firm charges high price for high quality.
 In high value pricing, the firm charges moderate/low price for high quality.
5. Product Life Cycle:
The stage of a products life cycle affects pricing. For instance, when a firm introduces a product in a competitive market,
then it may charge a lower price to attract the customers. During the growth stage, a firm may increase the price,
especially in a low competition market.
II. External Factors: (SHORTCODE : CDEF)
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. 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 that of the competitors.
2. Consumers:
The marketer should consider various consumer factors while fixing prices. The consumer factors that must be
considered include the price sensitiveness of buyers, purchasing power, buying pattern, and so on.
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 there may be no rise in costs. Demand may increase due to economic conditions in the market,
problems with the supplies of competitors, and so on.
4. Economic Conditions:
The economic conditions prevailing in the market must be considered while fixing prices. During the times of recession,
when consumers have less money to spend, the marketers may reduce the prices to influence buying decision of the
consumers However, during economic boom, the marketers may charge higher price.
5. Financial Incentives:
The Government may provide incentives to the firms, and therefore, the firms may charge lower prices. For instance, the
exporters get incentives from the Government, so that they quote lower prices in overseas markets.
 MODULE 3: MARKETING DECISIONS – II
1.. Factors contributing to success of a brand. (Oct.18)
Ans:
Introduction:
Some brands are highly successful in India. The successful brands in India include Fevicol, Cadbury Dairy Milk, Amul
Butter, Maruti Suzuki, Hero (Motor Corp) TCS, Infosys,
The main factors contributing to the success of brands in India are as follows:(SHORTCODE : UK CID)
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, Big Bazaar has become a big brand in India for its low pricing, especially on
Wednesdays. Several customers throng the Big Bazaar outlets on every Wednesday.
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 Utterly Butterly Delicious. For Pidilite'sFevicol, the tag line is -
Wahimazbootjod, paanimeinbhierFevicolkamazbootjodhaiTooteganahi are the best examples of unique slogans that
remains on the mind of the target audience.
3. Knowledge of Target audience: Considering that branding success is only possible due to the existence of customers;
one of the primary aims of a company should be to identify and understand its target audience. Great brands understand
the consumer behaviour of the target customers in terms of:
 What they buy
 Why they buy
 When they buy
 How often they buy
4. Consistency: Brands that fail to be consistent will have poor performance at the marketplace. A company can't expect
customers to be loyal when there is lack of consistency in its marketing activities.
5. Customer Relationship management: The success of a brand largely depends on CRM to maximize customer loyalty.
There are various techniques of CRM such as:
 Data warehousing and data mining.
 Undertaking satisfaction surveys.
 Providing loyalty incentives to loyal customers.
 Special schemes for priority customers.
 One-to-one marketing, etc.
6. Innovation: Continuous innovation brings success to the brands. For instance Fevicol is India's Most Trusted Brand of
Adhesives due to its continuous innovation. Fevicol has become a household name, which is synonymous with adhesives.
The brand has introduced many innovative products which have transformed the way carpentry trade operates in India.
7. Integrated marketing communication: Companies need to use IMC to make their 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.
8. Diverse portfolio of products: A brand may meet success in the market due to its 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 women, calorie conscious to health conscious, the company has ensured that it launches products for
every segment. Providing value and benefits to its target segment, Amul has been able to build a strong brand
association with its customers over the years.

2. Sales Promotion Tools. (May.19)

Ans:
Introduction:
Sales promotion tools are techniques or strategies used by businesses to stimulate customer purchases and boost sales.
They are typically short-term marketing efforts aimed at providing incentives to customers, intermediaries, or the sales
force. Here are some common sales promotion tools:
Discounts: Offering price reductions, such as percentage discounts (e.g., 20% off), cash discounts (e.g., $10 off), or
bundle discounts (e.g., buy one, get one free).
Coupons: Providing printed or digital coupons that customers can redeem for discounts when making a purchase.
Rebates: Allowing customers to receive a portion of their purchase price back after providing proof of purchase.
Free Samples: Distributing free product samples to encourage customers to try a product before making a purchase.
Gifts with Purchase: Offering a free gift or bonus item when customers buy a specified product or spend a certain
amount.

3. Promotion mix
Ans:
Introduction:
Promotion is an important element of marketing mix. Promotion- mix is also called as communication-mix. Promotion-
mix consists of various elements that informs, and induces the customers to buy the product.(SHORTCODE : ABC)
1. Awareness: The marketer should undertake communication- mix to create awareness of the product or service in
respect of the brand name, features, etc.
2. Attitudes : Promotion is required to build or to reinforce attitudes in the minds of target audience. The marketer
expects the target audience to develop a favourable attitude towards his brand.
3. Brand Loyalty: Promotion-mix helps to develop brand loyalty. Brand loyalty refers to:
 Repeat purchases by satisfied customers.
 Recommendation of the product to others by loyal customers.
4. Brand Image: Marketers need to develop a good image of the brand in the minds of target audience. There are several
factors that can help to develop brand image in the minds of the target audience, such as:
 The character of the personality that endorses the brand,
 The content of the advertising message,
 The nature and type of packaging,
 The type of programmes or events sponsored, etc.
5. Counter competitors claims : The marketer may counter the claims made by the major competitors. For instance,
competitive advertising is undertaken to counter the claims made by competitors either directly or indirectly.
6. Corporate image : Promotion-mix helps to create a good corporate image in the minds of customers and others. For
instance, advertising can help to create a good image in the minds of target audience.

4. What is Promotion? Explain the important elements of Promotion-mix? (Oct.18)

Ans:
Introduction :
There are various elements of promotion mix. The choice of elements depends upon the promotion objectives. In
general, the important elements or methods of promotion are as follows : (SHORTCODE : PPT PASS)
1. Publicity :Publicity is any non-paid form of non-personal presentation of ideas, goods and services. Publicity is
provided through news and editorials by the mass media about a firm - products, actions, policies, awards, etc.
Publicity has several advantages over advertising and other techniques:
 It creates good brand image.
 It can provide detailed information about the firm and its products.
 It is more believed as compared to advertising and other techniques.
2. Advertising : It is any paid form of non-personal presentation and promotion of ideas, goods and services by an
identified sponsor. The advertising messages are communicated through various media such as newspapers, magazines,
radio, television, direct mail, internet, and so on.
Advertising plays important role in promotion mix:
 It helps to develop top of mind awareness.
  It helps to reinforce positive attitude towards the brand.
 It enables to counter the claims of the competitors, etc.
3. Sales promotion :It consists of various tools that induce a desired response from customers and intermediaries. The
various sales promotion techniques include combo packs, discounts, exchange offers, free samples, free gifts, etc. The
sales promotion offers certain benefits:
 It persuades the buyers to buy the brand.
 It helps to develop brand loyalty,
 It ensures quick response from the target customers, etc.
4. Salesmanship :It involves face-to-face communication between the firm's representative and the prospect. The basic
objectives are:
 To provide information to prospective customers.
 To persuade prospects to buy the product.
 To educate the buyers regarding the use and handling operations, etc.
5. Sponsorships :A firm may sponsor sports, cultural and social events, in order to create a distinct image both for the
organisation and for its brands. It is to be noted that firms have to be selective in sponsoring events. Sponsorships help in
brand visibility and creates corporate image.
6. Public relations :Professional firms are concerned about the effects of their of its goals and interests; otherwise, they
may be openly hostile actions on the public. A firm must communicate to the public to the firm's actions.
7. Packaging :A properly designed package can influence or induce the prospects to buy the product. A well-designed
package c communicate the type and quality of the product. Packaging plays important roles such as:
 Providing information of the product.
 Protection of goods while transporting and handling,
 Preservation of quality of the product.
8. Trade fairs and exhibitions :Participation in trade fairs and exhibitions is an important technique of promoting
products. It is one of the oldest forms of promoting the sale of products.
It helps to achieve certain objectives:
 Demonstration of the product features/operations.
 Detailed information orally or through printed material.
 Education of the prospective customers.
 To observe the efforts of the competitors.

5. Discuss Retail Marketing. Explain the recent trends in retailing. (Dec.18)

Ans:
Introduction:
Retail marketing refers to the strategies and activities that retailers use to promote their products or services to
consumers, with the goal of making sales, increasing customer loyalty, and maximizing profits. Retail marketing is a
crucial component of the retail industry, which encompasses a wide range of businesses involved in selling goods and
services to end consumers.
Here are some key trends in retail marketing:
E-commerce and Online Retail: The growth of e-commerce has been a significant trend, accelerated by the COVID-19
pandemic. Retailers are expanding their online presence and investing in user-friendly websites and mobile apps to reach
a broader customer base.
Omnichannel Retailing: Retailers are increasingly adopting omnichannel strategies, which provide a seamless shopping
experience across both physical stores and online channels. This allows customers to research, shop, and return products
through various touch points.
Personalization: Retailers are leveraging data and technology to offer personalized shopping experiences. This includes
personalized product recommendations, targeted marketing, and customized offers based on individual preferences and
purchase history.
Mobile Commerce: With the widespread use of smartphones, mobile commerce (m-commerce) is on the rise. Retailers
are optimizing their websites and apps for mobile users and even offering mobile payment options like digital wallets.

6. What you mean by Pricing? Explain the Internal Factors which are Influencing on pricing. (May.19)
Ans:
Introduction:
Price is an important element of marketing mix. It is the exchange value of the product. Pricing of the product depends
on several factors.
I. Internal Factors : (SHORTCODE : COP)
1. Costs:
A firm while fixing prices should consider the costs for producing the 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. However, if
a firm is selling bulk of its supplies in the home market, and a part of production in the overseas market, then all the
fixed costs may be recovered from the home market, and only variable costs may be charged for the overseas markets.
2. Corporate Image:
The firms enjoying a good image in the market may charge higher price, as compared to those firms which do not enjoy
reputation in the market. This is because; consumers have trust and confidence in the firms 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 the market.
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 firm. For instance, if the objective of a firm is to increase return on investment, then it may charge a
higher price, and if the objective is to capture a large market share, then it may charge a lower price.
4. Product:
If a product is of superior quality, then a firm may either adopt premium strategy or high value strategy.
 In premium pricing, the firm charges high price for high quality.
 In high value pricing, the firm charges moderate/low price for high quality.
5. Product Life Cycle:
The stage of a products life cycle affects pricing. For instance, when a firm introduces a product in a competitive market,
then it may charge a lower price to attract the customers. During the growth stage, a firm may increase the price,
especially in a low competition market.

7. Discuss the process of personal selling. (Oct.19)

Ans:
Introduction :
The process of personal selling involves a number of steps from prospecting to follow up of sales. The following are the
main stages of personal selling :
1. Prospecting :The process of finding leads is called prospecting. In prospecting, the sales person finds out which
individuals or firms that could be targeted for sales.
2. Qualifying a prospect :The sales staff needs to identify the qualified prospects. Not all the leads may need the
product. A lead is a name on a list. The lead becomes a prospect only when it is determined that the person or company
can benefit from the service or product offered. A qualified prospect has a need, can benefit from the product and has
the authority to make the purchase decision.
3. Pre – approach : This stage involves the collecting of as much relevant information as possible prior to the sales
presentation. The pre- approach investigation is carried out on new customers but also on regular customers.
4. Approach :The salesperson should always focus on the benefits for the customer. This is done by using the product's
features andadvantages and the benefits to the customer. This approach also called as the FAB (Features, Advantages
and Benefits)
5. Sales presentation : After generating the prospects interest, the sales person makes the sales presentation. This
involves a persuasive vocal and visual explanation of a business proposition.
The sales presentation should be based on AIDA Formula. The sales presentation must:
 Attract attention,
 Develop interest,
 Arouse desire.
6. Handling objections :Objections are often indications of interest by the prospect and should not be misunderstood by
salespeople. The prospectin fact requesting additional information to help him to justify a decision to buy. The prospect
may not be fully convinced and the issues raised are thus very important. It also assists the salesperson to establish
exactly what is on the prospect's mind.
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 right moment. A salesperson can successfully close the sale by studying the body
language and the statements made by the buyers. The sales person can ask for the order by drawing the attention of the
customers towards colour, size or type of the product. If the buyers remain undecided, they may be guided in making the
choice of the product.
8. Follow – up : The sale does not complete the selling process. Follow-up activities are very important and are useful for
the establishment of long-term business relationships. The sales person should check whether the goods are delivered
on time. The sales person may conduct satisfaction survey of the customer. Any assistance required by the buyer may be
considered. The follow-up activities help to enhance customer relationships and loyalty. Satisfied customers act as
evangelists for the company.

8. Discuss the challenges in rural marketing. (Oct.19)

Ans:
Introduction:
Rural marketing poses unique challenges that stem from the distinct characteristics of rural areas, including lower
income levels, dispersed populations, and varied consumer behavior. Here are some of the key challenges in rural
marketing. (SHORTCODE : LC)
1. Low Income Levels: Rural areas often have lower income levels compared to urban areas. This limits the purchasing
power of rural consumers, making it essential for businesses to offer affordable products and services.
2. Low Literacy Levels: Rural consumers may have lower literacy levels, which can impact their ability to understand
product information, engage with marketing materials, and make informed purchasing decisions.
3. Limited Access to Technology: Rural consumers may have limited access to the internet and digital technology, making
it challenging to reach them through online marketing channels.
4. Credit Facilities: Access to credit and banking services may be limited in rural areas, affecting consumers' ability to
make purchases on credit.
5. Competition from Local Products: Local and unbranded products often have a strong presence in rural markets.
Competing with these products can be a challenge for national or international brands.
6. Customization: Rural consumers may have specific needs and preferences that require product customization.
Adapting products and services to local demands can be resource-intensive.
 MODULE 4: KEY MARKETING DIMENSIONS
1. Service marketing(Dec.18)
Ans:
Introduction:
Service marketing is the process of promoting and selling intangible services to consumers. Unlike physical products,
services are non-tangible and involve a wide range of industries, including healthcare, hospitality, finance, education, and
many more.
Service marketing strategies often revolve around addressing these unique features to meet customer expectations and
create value. It emphasizes the importance of delivering exceptional customer experiences, managing service quality,
and fostering long-term customer relationships.
Certainly, here are some additional key concepts and strategies in service marketing:(SHORTCODE : PS)
1. Physical Evidence: In service marketing, the tangible aspects of the service, known as "physical evidence," can help
customers evaluate and perceive the service quality. This includes elements such as the service environment, signage,
brochures, and any physical cues that communicate the service's value and quality.
2. Personalization: Many services benefit from personalization, tailoring services to individual customer needs and
preferences. This can be achieved through data analysis, customer profiles, and customizing service delivery.
Pricing Strategies: Determining the right pricing strategy for services can be complex. Options include value-based
pricing, tiered pricing, and subscription models, among others.
3. Service Blueprinting: Service blueprinting is a tool used to visualize and understand the various components of a
service, including customer interactions, frontstage activities, and backstage processes. It helps in designing and
improving service processes for efficiency and customer satisfaction.
4. Service Recovery: Service failures can happen, and effective service recovery is critical to maintaining customer trust
and loyalty. Service marketing involves strategies for handling complaints, resolving issues, and turning negative
experiences into positive ones.

2. Internet marketing(Dec.18)
Ans:
Introduction:
Internet marketing, also known as online marketing or digital marketing, refers to the use of the internet and digital
technologies to promote and advertise products, services, or brands to a wide online audience. It encompasses various
strategies and channels to reach and engage potential customers. Here are some key components of internet marketing:
(SHORTCODE : AI SCAM)
1. Affiliate Marketing: Partnering with individuals or other businesses (affiliates) to promote products or services.
Affiliates earn a commission for each sale or lead they generate through their marketing efforts.
2. Influencer Marketing: Collaborating with influencers in your industry or niche to promote your products or services.
Influencers have a dedicated following and can help you reach a highly engaged audience.
3. Social Media Marketing: Leveraging social media platforms like Facebook, Twitter, Instagram, and LinkedIn to promote
products or services, interact with customers, and build brand awareness. It includes both organic (unpaid) and paid
social media advertising.
4. Content Marketing: Creating and sharing valuable, relevant content such as blog posts, articles, videos, and
infographics to attract and engage an online audience. Content marketing helps establish authority and trust with
potential customers
5. Analytics and Data Analysis: Internet marketing relies heavily on data and analytics to measure the effectiveness of
campaigns. Tools like Google Analytics provide insights into website traffic, user behavior, and conversion rates.
6. Mobile Marketing: With the growing use of smartphones and tablets, optimizing marketing efforts for mobile devices
is crucial. This can include mobile-friendly websites, mobile apps, and SMS marketing.
3. Niche Marketing(Dec.18)
Ans:
Introduction:
A niche market is a small market segment. Normally, small firms enter in niche markets, because the niche segment may
be so small that the larger firms may not have the desire to cater such segments. However, there are large and reputed
firms that undertake niche marketing, which include Rolls Royce, Rolex Watches and others.
Advantages of Niche Marketing: (SHORTCODE : Less BCC)
1. Less Investment: The niche marketer requires less investment as he has to produce limited goods for the niche
market. The niche marketer requires lower investment in production and marketing activities.
2. Less Risks: There may be less risks as the marketing is done to a very small segment of the market. For example, the
risk of loss due to technological changes or changes in fashion may be lower.
3. Brand Loyalty: Customers may become brand loyal. The customers may continue to repeat the purchases of the same
brand and they may even recommend it to their friends and others.
4. Corporate Image: The niche marketer can earn name and reputation in the market. For instance, companies like Rolex
Watches, Rolls Royce, etc. command a lot of goodwill.
5. Competitive Advantage:Niche marketers normally face less competition in the market, as they deal with a specific
product for a small segment of the market. Competitors may not like to enter the market due to lower volume of sales.
6. Customer Satisfaction:Niche marketing generates customer satisfaction. This is because, the marketer gets first hand
information about customers and accordingly designs the product to meet the expectations of niche customers.

4. Marketing Opportunity Analysis (May.19)

Ans:
Introduction:
Market opportunity analysis is a strategic process that involves evaluating the potential for a new product or service
within a specific market. It helps businesses make informed decisions about whether to enter a market, expand their
offerings, or invest resources. Here's an overview of the key steps involved in market opportunity analysis: (SHORTCODE :
MTv)
1. Market Identification: Define the target market and segment it based on demographics, psychographics, geography,
and other relevant factors.
2. Market Sizing: Determine the market's size, both in terms of the overall market and the specific segment you plan to
target. This involves estimating the total number of potential customers and their purchasing power.
3. Market Trends and Dynamics: Analyze current market trends, growth rates, and any potential shifts in customer
preferences or industry dynamics.
4. Market Entry Strategy: Based on your analysis, determine the most suitable market entry strategy. This could include
launching a new product, entering a new geographic region, or expanding your product line.
5. Testing and Validation: Before a full-scale launch, consider conducting small-scale tests or pilot projects to validate
your assumptions and reduce risk.

5. Competitive strategies for market challengers. (Oct.19)

Ans:
Introduction:
The market challengers generally occupy the second or third market position behind the market leader. The market
challengers adopt marketing strategies to attack the market leader or the immediate competitor (like third place
challenger may attack the marketer holding the second place). The intention of the market challengers is to capture a
greater market share and even to overtake the leader.
1.Frontal Attack: The frontal attack is a direct attack, wherein the market challenger matches with the competitor's
product, price, advertising, and promotion activities.
The market challenger can even reduce the price without compromising on the quality, especially in the case of high
price products.
For instance, GCMMF (owners of Amul Brand) adopted this strategy when it launched 'Amul Kool at a low price with the
same level of the quality as offered by competitors in the market.
2. Flank Attack: A marketer attacks a competitor on its weak points. For instance, the challenger identifies the poor
performing areas of the competitor and then push its marketing efforts in that area. Also, the challenger identifies the
segments which the competitor has not tapped and then enter in such market segments.
3. Encirclement Attack: This attack is a combination of frontal and flank attack. The challenger attacks the market leader
or a competitor from all 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".

6. Green marketing (Oct.19) (May.19) (Oct.19)

Ans:
Introduction :
Green Marketing is beneficial to the society as well as to the organisation that undertake green marketing activities. The
importance of green marketing is stated as follows : (SHORTCODE : PC)
1. Protection of environment :Green marketing helps to conserve and protect the environment from degradation. For
instance, green marketing firms invest heavily in R&D to develop eco- friendly products. The eco-friendly products help
to conserve the environment.
2. Public health :Green marketing contributes to the betterment of public health. Green marketing helps to control and
reduce pollution, which may improve health of the people. Also, consumption of green goods or eco-friendly products
adds to the health of the consumers.
3. Corporate image :Firms that undertake green marketing activities are respected by the members of the society,
especially in developed countries. Green marketing activities enhance the corporate image in the minds of various
stakeholders such as customers, employees, environmentalists, government authorities and others.
4. Competitive advantage : Firms that produce green goods enjoy competitive advantage in the market, especially in
developed nations. Customers in developed countries are concerned about the environment and therefore, they may
prefer to buy eco- friendly products.
5. Customer relationship: A firm can develop good relationship with customers through green marketing efforts. For
instance, a firm can encourage to participate in green marketing related activities. For instance, a tea marketer can
encourage its consumers to use the waste of used tea leaves as fertilizer for gardening rather than using chemical
fertilizers.
6. Consumer behaviour: Green marketing influences consumer behaviour. Responsible citizens are concerned about the
effects of production and pollution on the environment. Therefore, such responsible customers would prefer to buy the
goods from eco-friendly companies.
7. Brand Equity (Oct.19) (Oct.19)
Ans:
Introduction:
Every brand has a value, and the value of a brand is brand equity. Brand equity must not be confused with brand
personality or image. Edward Tauber defines brand equity as "The incremental value of a business above the value of its
physical assets due to the market position achieved by its brand and the extension potential of the brand “.
Brand equity provides value to firm by enhancing:
 Efficiency and effectiveness of its marketing programs - It can enhance programs to attract new customers and to
hold on with existing ones.
 Brand loyalty - The perceived quality, well-known name of the brand, brand associations and other proprietory
brand assets can make customers more brand loyal.
 Price and Profit Margins - Well known brands can command premium price and as such higher margins.
 Brand Extensions - It can help to introduce new products under existing brand names.
 Trade Leverage - A strong brand can gain support from dealers or stores.
 Competitive Advantage - A strong brand equity presents a real barrier to competitors.

8. Elaborate various careers in marketing in 21st century. (Oct.18)

Ans:
Introduction:
Various career options are available in the field of marketing. The candidates need to have competent qualifications
(such as a MBA degree with specialisation in marketing) and experience to deal with marketing activities of an
organisation.(SHORTCODE : MAPS)
1. Marketing research: Nowadays, marketing research field is gaining importance. Marketing research is a process of
systematic gathering recording, and analysing the data to solve specific marketing problems.
2. Marketing information systems: Nowadays, large marketing organisations maintain MIS for effective marketing
decisions. MIS is wider in scope as compared to marketing research. Personnel involved in MIS should have a good
knowledge of the following:
 Internal Records
 Marketing Decision Support Systems.
 Marketing Research
 Marketing Intelligence.
3. Advertising manager: Large MNCs may appoint advertising manager to liaison with the ad agency. The role of the ad
manager would include:
 Holding meetings with the ad agency personnel.
 Providing inputs to the ad agency for effective ad campaign.
 Maintaining client-agency relationship.
 Approval of the ad campaign.
4. After sale-service manager : After-sale-service plays an important role in marketing, especially in the case of
consumer durables and office equipment and machinery. The role of after-sale-manager include:
 Selecting the right after-sale-service staff.
 Training the staff to improve competence and dedication.
 Motivating the staff with incentives.
5. Public relations: PR managers need to manage the perception of the products.Apart from managing the perception of
the products, PR managers manage activities like drafting advocacy speeches, press releases, and handling major crisis.
Nowadays, PR managers work as integrated marketing communications consultants. The PR managers need to work in
close cooperation with the marketing department.
6. Product development managers : The product development managers are responsible for developing new products
and for improving or modifying the existing products. The product development manager works in close cooperation
with the production department and the marketing department. To develop new and improved products, the product
development manager must undertake consumer research and research and development.
7. Sales promotion managers : Nowadays, sales promotion plays an important role in marketing of goods, especially
consumer goods. Therefore, there is good scope for career in sales promotion. The sales promotion involves various
activities relating to:
 Coupons and Vouchers
 Banded Products
 Discounts
8. Sales Manager: Nowadays, marketing department works in close coordination with the sales department. In small and
medium companies, the work of sales department is monitored by the marketing department. The work of the sales
would include:
 Obtaining customer leads.
 Obtaining orders from customers.
 Delivery of goods.
 Preparing and analysing sales reports.

9. What is Service Marketing? Explain the Features of Service Marketing. (May.19)

Ans:
Introduction:
Service marketing refers to the process of promoting and selling intangible services to consumers. Unlike the marketing
of physical products, service marketing focuses on the unique characteristics of services. Here are some key features of
service marketing:(SHORTCODE : HI PVR)
1. Heterogeneity: Services are typically customized to meet individual customer needs, leading to heterogeneity in
service delivery.
2. Intangibility: Services are intangible, meaning they cannot be seen, touched, or held. This makes it challenging to
convey their quality and benefits to potential customers.
3. Inseparability: Services are often created and consumed simultaneously. The service provider and the customer are
typically present during service delivery, leading to a high level of interaction and interdependence.
4. Perishability: Services are perishable, meaning they cannot be stored for future use. If a service is not utilized when
it's available, the opportunity is lost.
5. Variability: Services can vary in quality from one interaction to another, mainly due to the human element involved.
Maintaining consistency is a challenge in service marketing.
6. Relationship Marketing: Building and maintaining long-term relationships with customers is crucial in service
marketing. Trust and loyalty are often built over time.

10. What is digital marketing? Explain the trends in digital marketing. (Oct.19)
Ans:
Introduction:
The term 'digital marketing' was first used in the 1990s. In the 21st century, the term 'digital marketing' became more
sophisticated and popular in developed countries, and also in emerging and developing countries.
Digital marketing has witnessed several trends in the past few years and some trends are likely to be witnessed in 2018
and further.(SHORTCODE : SCAM GPS)
1. Social media analytics : Social media analytics are getting more powerful, precise and easier to use. Social media
analytics (SMA) refers to the approach of collecting data from social media sites and blogs and evaluating that data to
make business decisions. This process goes beyond the usual monitoring or a basic analysis of retweets or likes of a post,
to develop an in-depth idea of the consumer behaviour.
2. Customer Experience: In 2018 and beyond, leading marketers will make efforts to optimize their CE through
personalized content and with new way of operating content. CE 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 with his or her first name.
3. Artificial Intelligence: Al is likely to revolutionize the digital marketing space. Al is the major development since the
Internet. Al will influence what people do in their jobs. By leaving the most time-consuming and logic-based jobs to AI,
marketers can focus their time on creative thinking and ensure that Al efforts are aligned with strategic goals.
4. Multi-channel marketing: There is a shift in thinking on the part of professional firms. 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.
5. Growing importance of videos : Videos have become a major part of the digital world. With Facebook testing video
monetisation like YouTube, it is clear that the trend will continue. Subscription video platforms such as Netflix, Amazon
Prime, Voot, etc have also witnessed an increase in viewership. All brands are adopting video ads, video storytelling,
collaborating with video influencers (celebrities). Therefore, marketers must update themselves with video creation skills
to gain competitive advantage in the market.
6. Personal branding by celebrities on social media : Celebrities like Shilpa Shetty, 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. The personal brand helps the celebrities to launch clothing brands, cosmetics, etc.
7. Story – telling : Nowadays, it is becoming difficult to sell without a story. That trend will grow in coming years, and we
could see more Behind the Scenes (BTS) by big brands. As a marketer it would be effective to state candid (frank or
truthful) facts about the brand, along with call to action (CTA) posts.