1.

Marketing Mix: 4p / 7p
The marketing mix refers to the set of tactics or tools that a company uses to promote and sell its
product or service. It is often referred to as the 4Ps (Product, Price, Place, and Promotion):
Product: The goods or services offered by a company, including quality, features, branding, and
customer service. Example: Apple’s iPhone is designed with unique features like Face ID and a
sleek interface, differentiating it from other smartphones.
Price: The amount customers must pay to acquire the product. It involves setting a competitive
price and offering discounts, financing options, and payment terms. Example: Netflix uses
subscription pricing, offering several plans at different price points to appeal to various user
segments.
Place: The distribution channels used to deliver the product to customers, which includes selecting
locations, distribution strategies, and logistics. Example: Coca-Cola uses extensive distribution
networks, ensuring their products are available in supermarkets, restaurants, and vending
machines worldwide.
Promotion: The communication strategies used to inform, persuade, and remind customers about
the product. This includes advertising, sales promotions, public relations, and personal selling.
Example: Nike uses inspirational ad campaigns and endorsements from top athletes to promote its
brand.
People – Everyone involved in delivering and supporting the product or service.
Process – The systems and steps used to deliver the product or service.
Physical Evidence – The tangible proof or environment of the product or service.

Q1 Define marketing and explain its scope

Ans Marketing is the process of identifying, creating, communicating, and delivering value to
customers to satisfy their needs and wants, while also achieving organizational goals.
• Marketing Research
Understanding market trends, customer preferences, competition, etc.
Helps in making informed decisions.
• Product Planning and Development
Designing the right product based on consumer needs.
Includes branding, packaging, design, and innovation.
• Pricing
Setting the right price based on cost, competition, demand, and value perception.
• Promotion
Communicating with customers to promote the product.
Includes advertising, sales promotion, public relations, and digital marketing.
• Distribution (Place)
Making the product available at the right place and time.
Involves logistics, supply chain, and channel management.
• Selling
Direct interaction with customers to convince them to buy.
Includes personal selling and customer relationship management.
• Customer Support and Service
After-sales services like warranty, feedback handling, and support.
Builds long-term customer relationships.
• Marketing Management
Planning, organizing, and controlling marketing activities to achieve business objectives.
2. STP (Segmentation, Targeting, Positioning):
STP is a marketing strategy that focuses on dividing the market into segments, selecting the
appropriate target market, and positioning the product to appeal to that segment:
Segmentation: Dividing the market into distinct groups based on characteristics such as
demographics, behavior, geography, or psychographics.
Targeting: Selecting one or more segments to focus on, based on factors like size, growth potential,
and accessibility.
Positioning: Crafting the product's image and positioning it in the minds of the target audience to
ensure it stands out from competitors.

Q2 diff between need want and demand

Term Definition Example
Need Basic human requirements essential for survival. Food, water, shelter
Specific desires shaped by culture and
Want Craving pizza instead of just food
personality.
Wants backed by purchasing power (ability to Buying a pizza because you can afford
Demand
buy). it

3. Mass Marketing:
Mass marketing is a strategy that targets a broad audience with a single, standardized message. It’s
intended to reach as many people as possible with the aim of appealing to the largest number of
potential customers. It is most effective when the product has universal appeal and can be
marketed to the entire population, like basic consumer goods (e.g., Coca-Cola, McDonald's).
3.Target Marketing
Target marketing is the process of identifying and focusing on a specific group of consumers who
are most likely to buy a product or service. It helps businesses tailor their marketing efforts—like
product design, pricing, and promotion—to meet the needs of that group. For example, a sports
brand may target young fitness enthusiasts with activewear. In short, target marketing makes
marketing more focused and effective.

4. Segment Marketing:
Segment marketing involves dividing the market into different groups (segments) based on various
criteria (e.g., demographics, psychographics, needs) and then developing distinct marketing
strategies for each segment. This approach allows businesses to better tailor their products and
messaging to the unique needs of each group, leading to more effective marketing.

5. Niche Marketing:
Niche marketing targets a very specific, small segment of the market. The focus is on catering to
the unique needs of a narrowly defined audience, which allows businesses to build strong,
specialized customer relationships. Examples include businesses targeting high-end luxury
consumers, vegans, or left-handed individuals.

6. Micro Marketing:
Micro marketing refers to highly targeted marketing strategies that focus on individual consumers
or small groups of consumers. It is often enabled by data analytics and technologies that allow
businesses to personalize their messaging, offers, and experiences at a very granular level.
Examples include personalized emails or custom-tailored online ads.
7. USP (Unique Selling Proposition):
A USP is a feature or benefit that makes a product stand out from its competitors. It is the key
element that differentiates the product in the market, addressing a unique need or solving a
specific problem. For example, Domino’s Pizza used the USP of “30 minutes or less delivery or it’s
free” to stand out in the crowded pizza market.

8. SBU (Strategic Business Unit):

An SBU is a division within a company that operates independently and focuses on a specific
product or market segment. SBUs have their own mission, objectives, and strategies and are often
assessed individually in terms of their performance. For example, a large conglomerate like General
Electric (GE) may have separate SBUs for its healthcare, aviation, and energy divisions.

9. Product Mix:
A product mix refers to the total range of products offered by a company. It includes various
product lines (a group of related products) and categories (broader groupings). For example,
Samsung's product mix includes smartphones, TVs, home appliances, and more. The breadth
(range of different product lines) and depth (variety of products within each line) of a company’s
product mix affect its market coverage and strategy.

10. AIDA (Attention, Interest, Desire, Action):

AIDA is a model that describes the stages a customer goes through in the buying process:
Attention: The first step is to grab the customer’s attention through a compelling ad or product
feature.
Interest: Once attention is captured, the goal is to develop interest by providing relevant
information about the product.
Desire: At this stage, the marketing message should evoke a desire for the product by highlighting
its benefits.
Action: The final goal is to encourage the consumer to take action, such as making a purchase.

11. Product Life Cycle (PLC):

The product life cycle refers to the stages a product goes through from introduction to decline. The
four stages are:
Introduction: The product is launched, and awareness is created. Sales are low, and profits may be
negative.
Growth: Sales increase, the product gains market acceptance, and competition begins to emerge.
Maturity: The product is widely accepted, sales growth slows, and competition intensifies.
Companies often focus on differentiation.
Decline: Sales decrease as consumer interest wanes or newer products emerge. Companies may
decide to discontinue the product or reduce marketing efforts.

12. Need, Want, Demand:

Need: A basic requirement or necessity, like food, water, or shelter.
Want: A specific way of fulfilling a need, shaped by culture, individual preferences, and personality
(e.g., wanting a gourmet meal when you're hungry).
Demand: A want that is backed by purchasing power. Consumers are willing and able to buy the
product.
13. Product-Market Expansion Grid:
This framework helps businesses explore growth strategies by considering both new and existing
markets and products. The grid includes:
• Market Penetration: Increasing sales of existing products in existing markets.
• Market Development: Entering new markets with existing products.
• Product Development: Developing new products for existing markets.
• Diversification: Introducing new products into new markets.

14. BCG Matrix (Boston Consulting Group Matrix):

A tool used to analyze a company’s product portfolio. It classifies products into four categories
based on market growth rate and relative market share:
Stars: High growth, high market share products that require investment to maintain their position.
Cash Cows: Low growth, high market share products that generate consistent revenue with little
investment.
Question Marks: High growth, low market share products that require heavy investment to
increase market share.
2Dogs: Low growth, low market share products that may be considered for divestiture.

Q14. BCG matrix of itc company

Segment Category Reason
Star/Cash Dominant market share, consistent cash flow,
Cigarettes
Cow high margins
Branded Foods (e.g., Yippee!,
Star High growth and increasing market share
Aashirvaad)
Question Competitive market, low share, needs
Personal Care (Fiama, Vivel)
Mark investment
Question Capital intensive, growth potential, but low
Hotels
Mark profitability
Paperboards & Packaging Cash Cow Dominant share, low growth industry
IT Services (ITC Infotech) Dog Low growth, low share in competitive industry
Matches & Agarbatti Dog Low margin and limited strategic importance

15. Marketing Concepts:

Marketing concepts are philosophies that guide businesses in their marketing efforts. These
include:
Production Concept: Focus on mass production and cost reduction.
Product Concept: Focus on offering superior products and features.
Selling Concept: Focus on aggressive sales techniques to push products.
Marketing Concept: Focus on understanding and meeting consumer needs better than
competitors.
Societal Marketing Concept: Focus on delivering value to customers while considering society’s
well-being.
Q15 Ansoff Matrix of Reliance Industries
Existing Products New Products
Existing Markets 1. Market Penetration 3. Product Development
New Markets 2. Market Development 4. Diversification

Strategy Example
Market Penetration Jio offering free and low-cost data to increase market share in telecom.
Market Development Reliance Retail expanding into Tier 2 and Tier 3 cities in India.
Product Development Launch of JioFiber for existing Jio telecom users.
Diversification Entry into green energy (solar, hydrogen) through Reliance New Energy.

16. Porter’s 5 Forces:

A framework for analyzing the competitive forces within an industry:
Threat of New Entrants: How easy or difficult it is for new competitors to enter the market.
Bargaining Power of Suppliers: The influence suppliers have on the price and quality of goods.
Bargaining Power of Buyers: The influence consumers have on the price and demand for products.
Threat of Substitute Products: The likelihood of alternative products or services replacing the
current offering.
Industry Rivalry: The level of competition between existing players in the market.

17. External Environment Analysis:

This involves examining external factors that can influence a business, typically using frameworks
like PESTEL (Political, Economic, Social, Technological, Environmental, and Legal factors). These
external forces can present opportunities or threats to the company.

18. Explain SWOT analysis and TOWS

Ans. SWOT Analysis is a strategic tool that helps businesses assess their position by identifying
internal and external factors:
• Strengths: Internal advantages like a strong brand or skilled workforce.
• Weaknesses: Internal limitations such as high costs or poor customer service.
• Opportunities: External trends or factors that can benefit the business, like market growth
or new technologies.
• Threats: External challenges like competition or changing regulations.
TOWS: A variation of SWOT analysis, often used to develop strategic options by combining internal
and external factors:
Strengths-Opportunities (SO) Strategies: Leverage strengths to take advantage of opportunities.
Weaknesses-Threats (WT) Strategies: Minimize weaknesses to avoid threats.
Strengths-Threats (ST) Strategies: Use strengths to mitigate threats.
Weaknesses-Opportunities (WO) Strategies: Overcome weaknesses to seize opportunities.

19. Product and Product Levels:

A product is anything that can be offered to a market to satisfy a need or want. It can be a physical
item, a service, a digital good, or even an idea.
A product has different levels:
Core Product: The fundamental benefit or need the product fulfills.
Actual Product: The tangible product, including its design, features, and packaging.
Augmented Product: Additional services or benefits that enhance the product (e.g., warranty,
customer support).

21. Concept of Differentiation and Positioning

Differentiation:
Differentiation is the process of making a product or service unique from competitors by
highlighting its distinctive features, benefits, or quality. It can be through product design, features,
customer service, pricing, or branding. The goal is to create a competitive advantage and reduce
price sensitivity.
Example: Apple differentiates its products with premium design, user experience, and a unique
ecosystem.
Positioning:
Positioning is about how a brand or product is perceived in the minds of consumers relative to
competitors. It involves creating a specific image or identity that resonates with the target market.
Example: Volvo positions itself as the safest car brand, while Nike positions itself as the brand for
athletes focused on performance.

22. difference between selling and marketing and merchandising

Aspect Selling Marketing Merchandising
Customer needs and Product display and
Focus Product
satisfaction presentation
Build customer relationships Attract attention and boost
Goal Convert product into sales
and demand impulse buying
Visual and placement-based
Approach Short-term, sales-driven Long-term, value-driven
strategy
Activity Research, planning, promotion, Product arrangement,
Direct persuasion to buy
Type pricing, etc. packaging, signage
Salesperson convincing a Launching a campaign based Placing attractive snack displays
Example
customer to buy a phone on customer preferences near billing counters

23.”think Global act Local “ illustrate and explain how international brand marketers are doing
this in India
Ans. The phrase “Think Global, Act Local” means that companies should have a global vision but
adapt their strategies to fit the local culture, needs, and preferences of each market they operate
in. It’s especially important in marketing when international brands enter diverse markets like
India. Explanation:
• Think Global: Maintain a consistent brand image, values, and core products worldwide.
• Act Local: Customize marketing campaigns, packaging, product features, pricing, or flavors
to suit local tastes and cultural norms.
Examples of International Brands Doing This in India: it keeps its global fast-food branding intact
but adapts its menu in India by offering vegetarian options like the McAloo Tikki Burger and
removing beef and pork items to respect religious sentiments. Coca-Cola has localized its
marketing by using popular Indian phrases and celebrities, such as the famous ad campaign
“Thanda Matlab Coca-Cola,” which resonated deeply with Indian audiences.

24. “An education buyer makes a better responsibilities”.discuss the implication of this statement
also explain the basic responsibilities of consumer.
Ans .The statement “An educated buyer makes better responsibilities” highlights the importance of
consumer awareness in making informed and ethical choices. An educated consumer understands product
quality, pricing, rights, and duties, which helps avoid exploitation and promotes fair business practices.
They read labels, compare products, check warranties, and make thoughtful purchases, leading to better
satisfaction and safer consumption. Educated buyers are also more likely to support eco-friendly and ethical
brands, report unfair practices, and use products responsibly. Basic consumer responsibilities include being
aware of product details, reading terms and labels, keeping purchase records, speaking out against fraud,
and consuming sustainably. By fulfilling these responsibilities, educated buyers not only protect their own
interests but also contribute to a fairer and more transparent marketplace

25. how does political and legal environment affect marketing decisions.
Ans The political and legal environment affects marketing decisions by setting rules that businesses
must follow. Government policies, laws, and political stability influence how products are priced,
advertised, and sold. For example, bans on certain products or strict advertising laws can limit
marketing strategies. Companies must follow regulations like consumer protection laws and
advertising standards to avoid penalties and build trust. In short, marketers must align their
strategies with legal and political conditions to operate safely and effectively

26.Discuss the impact of environmental factor affecting a company ability to serve its customer
Ans. Environmental factors like weather, natural resources, and sustainability impact a company's
ability to serve customers by affecting production, supply chains, and product availability. For
instance, extreme weather can disrupt deliveries, and growing demand for eco-friendly products
requires businesses to adopt sustainable practices. Ignoring these factors can lead to legal issues,
reputational damage, and loss of customer loyalty. In short, companies must adapt to
environmental changes to continue meeting customer needs efficiently

27.discuss the major components of a company marketing environment.

Ans. 1. Microenvironment:
• Company: Internal factors like company culture, departments, and resources that affect
marketing decisions.
• Suppliers: Businesses rely on suppliers for raw materials, components, and services, so supply
chain disruptions can affect marketing efforts.
• Marketing Intermediaries: Entities like retailers, wholesalers, and distributors that help
promote, sell, and distribute products to customers.
• Customers: The target audience whose needs and preferences shape marketing strategies.
• Competitors: Other businesses offering similar products or services that companies must
differentiate from to attract customers.
• Publics: Any group that can impact or be impacted by the company, such as the media,
government agencies, and local communities.
2. Macroenvironment:
• Demographic Factors: Population characteristics like age, gender, income, and education, which
influence demand for products.
• Economic Factors: Economic conditions (e.g., inflation, unemployment) that affect purchasing
power and consumer behavior.
• Technological Factors: Innovations and advancements that create new opportunities or
challenges for marketing.
• Political and Legal Factors: Government regulations, laws, and policies that affect business
operations and marketing strategies.
• Cultural and Social Factors: Societal values, beliefs, and lifestyle trends that influence consumer
preferences and buying behavior.
• Environmental Factors: Natural elements like climate change, sustainability concerns, and
resource availability that affect how products are developed, marketed, and consumed.

28. write short note on “PEST analysis”.

Ans. PEST Analysis is a strategic tool used by businesses to evaluate the external macro-
environmental factors that can impact their operations. The acronym PEST stands for:
• Political: Examines government policies, regulations, political stability, and laws that can
influence business decisions, such as tax policies, trade tariffs, or labor laws.
• Economic: Focuses on economic conditions like inflation rates, interest rates, economic growth,
and unemployment, which can affect consumer purchasing power and business profitability.
• Social: Looks at social and cultural factors, including demographics, lifestyle changes, education,
and social attitudes, that shape customer behavior and market demand.
• Technological: Analyzes technological innovations and advancements that can create new
opportunities or threats for businesses, such as automation, digital transformation, or new
product development.

29. Explain the term ‘Strategic Planning Gap’

Ans. A Strategic Planning Gap refers to the difference between a company's current performance
and its desired future performance. It represents the gap between where the company currently
stands (in terms of resources, capabilities, and market position) and where it aims to be (in terms
of objectives, goals, or competitive positioning).
• The gap identifies areas where the company needs to improve, innovate, or invest to
achieve its long-term goals.
• It helps businesses focus on what needs to be done to close the gap and align their
strategies with future goals.

28.The product market expansion grid is a model proposed by Ansoff in 1957 that point out three
intensive growth strategies. Discuss with suitable examples.
Ans. The Product Market Expansion Grid, proposed by Ansoff in 1957, identifies four growth
strategies. Three of these are intensive growth strategies:
1. Market Penetration: Increasing sales of existing products in existing markets.
Example: Coca-Cola using promotions and discounts to increase market share.
2. Market Development: Introducing existing products into new markets.
Example: Starbucks expanding into international markets like China.
3. Product Development: Creating new products for existing markets.
Example: Apple launching new iPhone models to attract existing customers

29.what is marketing research? What are role of marketing research in marketing decision
making?
Ans. Marketing research is the process of collecting, analyzing, and interpreting data related to
markets, customers, competitors, and marketing performance. It helps businesses understand
consumer needs, market trends, and the effectiveness of marketing strategies.
Role of Marketing Research in Marketing Decision-Making:
• Understanding Customer Needs:
Helps identify what customers want, their preferences, and buying behavior, allowing
businesses to design better products and services.
• Market Analysis: Provides insights into market size, competition, and trends, helping businesses
choose the right target markets.
• Product Development: Guides product design, pricing, and packaging decisions based on
customer feedback and expectations.
• Promotion Strategy: Evaluates the effectiveness of advertising, branding, and promotional
campaigns to improve communication with the audience.
• Sales Forecasting: Assists in predicting future sales based on current data and trends, helping in
planning and budgeting.
• Risk Reduction: Minimizes business risks by providing data-driven insights before launching new
products or entering new markets.

30.diff between positioning and targeting.

Ans. Targeting and positioning are two key components of a marketing strategy but serve different
purposes. Targeting refers to the process of selecting a specific group of customers or market
segment that a company wants to serve. It focuses on identifying who the company’s ideal
customers are based on factors like age, income, location, or lifestyle. On the other hand,
positioning is about creating a distinct image or identity of the product in the minds of the target
audience. It focuses on how the product is perceived compared to competitors. Targeting comes
first, as businesses need to know their audience before they can effectively position their product.
For example, a skincare brand may target young women and position itself as “natural and
chemical-free” to appeal to health-conscious consumers. In short, targeting is about choosing the
right audience, while positioning is about shaping how that audience views the product.

31. what are the different targeting strategies that a company can adopt
Ans Companies can adopt the following market targeting strategies to effectively reach and
serve their desired customer segments:
• Undifferentiated Marketing (Mass Marketing):
The company targets the entire market with a single marketing mix, ignoring segment
differences.Example: Basic products like soaps or salt.
• Differentiated Marketing (Segmented Marketing):
The company targets several market segments and designs separate marketing strategies for
each.Example: A clothing brand offering men’s, women’s, and kids' collections.
• Concentrated Marketing (Niche Marketing):
The company focuses on a single, well-defined market segment.Example: A brand that sells only
gluten-free snacks.
• Micromarketing (Local or Individual Marketing):
Products and marketing programs are tailored to suit specific individuals or local areas.
Example: Customized mobile ads or local restaurant menus

32.What Is Consumer Behaviour. Explain Consumer Decision Making Process

Ans. Consumer behaviour is the study of how individuals, groups, or organizations select, buy, use,
and dispose of products, services, or experiences to satisfy their needs and desires. It includes
understanding the decision-making process, factors that influence buying choices (like culture,
income, lifestyle, or personal preferences), and how consumers respond to marketing efforts
• Problem/Need Recognition:The process begins when a consumer realizes they have a need or
problem.Example: A person feels hungry and realizes they need food.
• Information Search:The consumer looks for information to solve their problem or fulfill their
need.Example: Searching online for nearby restaurants or asking friends for suggestions.
• Evaluation of Alternatives:The consumer compares different products or services based on
features, price, quality, and reviews.Example: Comparing different restaurants’ menus, prices,
and ratings.
• Purchase Decision:After evaluating options, the consumer makes the final decision and buys
the product.Example: Choosing a restaurant and ordering food.
• Post-Purchase Behaviour:The consumer evaluates their satisfaction with the purchase. This can
influence future buying decisions and brand loyalty. Example: If the food was good, they may
return or recommend the place to others.

34. Explain The Steps In a Typical Marketing Research Process.

• Define the Problem and Research Objectives: Clearly identify what needs to be studied—
whether it's customer satisfaction, product demand, or market trends.
• Develop the Research Plan: Decide on the type of data needed (primary or secondary), research
methods (surveys, interviews, observations), and sampling techniques.
• Collect the Data: Gather information from selected sources using tools like questionnaires,
focus groups, or online analytics.
• Analyze the Data: Organize and interpret the collected data using statistical tools to find
patterns, trends, or insights.
• Present the Findings: Create a report or presentation that clearly communicates the research
results to decision-makers.
• Make Decisions and Take Action: Use the research insights to guide marketing strategies,
product improvements, or customer engagement efforts.

35. Short Notes On (Role Of Marketing In Decision Making) And (Sources Of Secondary Data)
Ans. Role Of Marketing In Decision Making: Marketing Plays A Crucial Role In Decision-Making By
providing insights into customer needs, market trends, and competitive dynamics. It helps
businesses make informed choices about product development, pricing strategies, promotional
campaigns, and distribution channels. By gathering and analyzing data on consumer behavior,
preferences, and market conditions, marketing ensures that decisions are customer-focused and
aligned with market demands.
Sources of Secondary Data:
• Government Publications: Reports, surveys, and statistics published by government agencies
(e.g., census data, economic reports).
• Industry Reports: Research conducted by industry associations, market research firms, and
trade organizations.
• Academic Journals and Books: Studies and analyses published in scholarly journals or books on
various business and market topics.
• Company Reports: Internal documents such as annual reports, sales records, and market
analyses from businesses.
• Online Databases and Websites: Digital sources like company websites, online research
databases, and market analysis platforms.

36. What is new product development and steps of new product development.
Ans. New Product Development (NPD) is the process of bringing a new product or service from
concept to market. It involves various stages, from idea generation to product launch, ensuring that
the final product meets customer needs and market demands.
Steps in New Product Development:
• Idea Generation: Brainstorming new product ideas from internal and external sources, such as
customers, employees, or market trends.
• Idea Screening: Evaluating and filtering ideas to identify the most feasible and valuable ones,
discarding those that are not aligned with business goals or customer needs.
• Concept Development and Testing: Creating detailed product concepts and testing them with
target customers to get feedback on potential acceptance.
• Business Analysis: Assessing the market potential, cost, profitability, and financial feasibility of
the new product.
• Product Development and Design: Designing and developing prototypes, including product
features, packaging, and technology.
• Market Testing: Testing the product in a small market segment to gather real-world data on
customer response and refine the product if necessary.

37. What is product repositioning.

Ans. Product repositioning is the process of changing the perception or image of a product in the
minds of the target audience. This strategy is often used to increase the product's appeal, attract
new customers, or respond to market changes or competition. It involves altering the product’s
positioning in terms of its features, price, target market, or overall branding. A soft drink brand
repositioning itself as a healthier alternative by emphasizing natural ingredients, lower sugar
content, or eco-friendly packaging to appeal to health-conscious consumers.

38. What are the steps involved in new product launch with example
• Market Research: Conduct thorough research to understand customer needs, market trends,
and competitors Example: A tech company conducting surveys to gauge interest in a new
smartwatch feature.
• Product Development: Develop the product based on the research, focusing on design,
functionality, and features that meet customer needs. Example: Apple developing the first
iPhone with features like a touchscreen and internet access.
• Testing and Feedback: Launch the product in a small market segment or with focus groups to
gather feedback on usability, features, and design. Example: A cosmetics brand launching a
limited version of a new lipstick shade to test customer reactions.
• Marketing and Promotion Plan: Create a comprehensive marketing strategy, including
advertising, social media campaigns, and influencer partnerships to generate buzz.
Example: Coca-Cola launching a new flavor with a global campaign featuring famous celebrities.
• Launch the Product: Officially release the product to the broader market through online and
offline channels, ensuring distribution is in place. Example: Amazon releasing a new Kindle
device across its website and retail partners.
• Monitor and Adjust: Continuously track product performance, customer reviews, and sales
data. Adjust marketing or product features if needed. Example: A smartphone company
releasing software updates after launch based on user feedback.

39. Short note on Brand and branding strategies

Ans . A brand is a name, term, symbol, design, or combination of these used to identify a product
or service and differentiate it from competitors. It represents the overall image, reputation, and
customer perception of a company or product. Branding strategies are approaches that companies
use to create a unique image and identity for their products or services in the minds of consumers.
Here are some common branding strategies:
• Individual Branding: Each product is given its own unique brand name. Example: Unilever’s
brands like Dove, Lipton, and Hellmann’s.
• Family Branding: A company uses the same brand name for multiple products. Example: Apple
uses the Apple name for products like iPhone, iPad, and MacBook.
• Brand Extension: A company introduces new products under an existing brand name, often in a
related category. Example: Virgin expanding from airlines to music, mobile, and health services.
• Co-Branding: Two or more brands collaborate to create a product or marketing campaign.
Example: Nike and Apple collaborating on fitness tracking products.
• Private Label Branding:Retailers sell products under their own brand name, often
manufactured by other companies. Example: Walmart’s Great Value or Target’s Archer Farms.

40. short note on Brand equity & Brand Extension.

Ans. Brand Equity: Brand equity refers to the value a brand adds to a product or service. It is based
on customer perceptions, recognition, loyalty, and trust. A brand with strong equity can charge
higher prices, attract more customers, and gain a competitive edge.Example: Apple has high brand
equity due to its strong reputation for quality and innovation.
Brand Extension: Brand extension is when a company uses an existing brand name to launch a new
product in a different or related category. It helps leverage brand recognition and customer trust to
boost new product success. Example: Amul extending its brand from dairy products to chocolates
and ice creams.

41. Explain different pricing methods.

Ans. 1. Cost-Based Pricing This approach sets prices based on the costs of production plus a
markup
• Cost-Plus Pricing: Adds a fixed percentage (markup) to the cost of producing the product.
Example: If it costs $50 to make a product and the markup is 20%, the selling price is $60.
• Break-Even Pricing: Sets the price to cover costs and reach the break-even point, with no profit
margin at the outset
2. Value-Based Pricing
Prices are set according to the perceived value to the customer rather than the cost.
• Perceived Value Pricing: Focuses on what customers are willing to pay based on the benefits
they perceive.
• Often used for luxury goods, tech, or unique services.
3. Competition-Based Pricing
Pricing is based on competitors’ prices.
• Going Rate Pricing: Matches the average market price.
• Price Leadership: Follows the price set by a market leader.
• Useful in highly competitive industries like airlines, retail, and telecom.
4. Dynamic Pricing
Prices change based on market demand, time, or customer segment.
• Common in e-commerce, ride-sharing apps, and airlines.
• Also known as surge pricing or real-time pricing
5. Skimming Pricing
Starts with a high price and lowers it over time.
• Used for new or innovative products (like electronics or tech gadgets).
• Helps recoup development costs early on and target high-end buyers first.
6. Penetration Pricing
Introduces a product at a low price to attract customers and gain market share quickly.
 • Used when entering new or competitive markets.
• Prices may rise later once loyalty or brand recognition is achieved

42. What are the different sales promotion strategies adapted by FMCG companies?
• Ans price-based promotions to attract customers by offering direct financial incentives. These
include discounts, price packs such as “Buy 2, Get 1 Free,” coupons, and cashback offers. These
strategies are effective in encouraging immediate purchases and increasing sales volume,
especially during competitive periods or festive seasons.

• Product-based promotions involve giving customers something extra along with their purchase.
This could be in the form of free samples to try the product, bonus packs with additional
quantity at the same price, or gifts given along with the main product. These methods help in
introducing new products and encouraging trial among potential buyers.

• In-store promotions play a key role in influencing consumer decisions at the point of sale. These
include attractive product displays, shelf talkers (informational signs on store shelves), and live
demos or tastings that allow customers to experience the product before purchasing.

• online promotions have become increasingly popular. Brands use social media giveaways,
referral discount programs, and flash sales on e-commerce platforms to reach a tech-savvy and
younger audience. These strategies are cost-effective and allow for targeted marketing efforts.

43. diff between Advertising and Sales promotion

Advertising
• A paid form of non-personal communication to inform or persuade customers.
• Aims to build brand image, awareness, and long-term customer loyalty.
• It is a long-term strategy.
• Uses media like TV, radio, newspapers, billboards, and social media.
• Targets a mass audience or specific market segments.
• Enhances and strengthens brand reputation.
• Usually involves high costs due to media and creative work.
• Focuses on creating awareness and influencing customer perception.
Sales Promotion
• Involves short-term incentives to encourage immediate purchases.
• Aims to boost quick sales and attract customer attention instantly.
• It is a short-term strategy.
• Includes tools like discounts, coupons, free samples, and contests.
• Targets specific customers or retailers.
• Has limited impact on long-term brand image.
• Costs are usually lower than advertising and can vary based on promotion.
• Focuses on stimulating quick action and immediate sales.

44. Elements of promotion mix

ans The promotion mix refers to the combination of different promotional tools and strategies used
by a business to communicate with its target audience, promote its products, and achieve
marketing goals. The main elements of the promotion mix are:
1. Advertising
• A paid, non-personal form of promotion.
 • Used to reach a large audience through media like TV, radio, newspapers, magazines, social
media, and websites.
• Helps in building brand awareness and influencing consumer perception.
2. Sales Promotion
• Short-term incentives designed to boost sales quickly.
• Includes discounts, coupons, contests, free samples, buy-one-get-one-free offers, etc.
• Encourages immediate buying and attracts new customers.
3. Personal Selling
• Involves direct, face-to-face interaction between a salesperson and a customer.
• Allows personalized communication, demonstration, and persuasion.
• Common in B2B markets and high-involvement products like real estate or insurance..
6. Digital Marketing (Modern Addition)
• Promotion using digital channels like social media, search engines, content marketing,
influencer marketing, and websites. Highly interactive, cost-effective, and data-driven.

Q45 what is CRM hoe does it help maximizing customer lifetime value
Ans CRM (Customer Relationship Management) is a strategy and technology used by businesses to
manage interactions with current and potential customers, with the goal of improving
relationships, increasing customer satisfaction, and driving sales growth.
It involves using software and tools to collect customer data, track communications, and automate
sales, marketing, and support.
• Collects and organizes customer data for personalization.
• Builds trust through regular communication.
• Enables targeted marketing campaigns.
• Provides quick and efficient customer service.
• Supports loyalty programs to encourage repeat business.
• Segments customers to tailor offers.
• Detects churn risk and triggers retention efforts.

Q46 why digital marketing imp today

• Ans Reaches a global audience instantly.
• Allows targeted and personalized advertising.
• Cost-effective compared to traditional marketing.
• Provides measurable results and analytics.
• Enables real-time engagement with customers.
• Supports multi-channel campaigns (social media, email, SEO).
• Essential for businesses as customers spend more time online.