MKT501 Test (SET-A)
Time Allowed: 45 minutes Max. Marks: 45
Name: Roll number: Section:.
Q1:- Differentiate between Sales and Marketing?
(10 Marks)
SELLING
MARKETING
Selling starts with seller
Marketing starts with buyers
Emphasis is on saleable surplus
Emphasis is on identification of a
market opportunity
Seeks to quickly convert products
into cash
Seeks to convert customer needs into
products
Views business as goods producing
process
Views business as customer satisfying
process
Cost determines price
Consumer determines price
Views customer as the last link in
business
Views customer as the very purpose of
the business
Firm makes the product first & then
figure out how to sell it
What is to be offered is determined by
the customer
Q2:- Suppose you are a businessman dealing in garments. How will economic,
demographic and cultural factors affect your business? (10 Marks)
Economic Factor:- Income distribution, consumer psychology, saving rate
Demographic Factor: Age Mix, Education, Household patterns etc.
Cultural Factor: Society, behavior
Student needs to relate how these factors affect the business.
Q3:- A company plans to launch a new brand of summer cool deodorant. How will
you segment the market and which market will you target? (10 Marks)
Student can use demographic, demographic, psychographic and behavioral
segmentation. Answer will be evaluated on justification and how these are used.
Q4:- Define the term service. Explain the characteristics of service. (10 Marks)
A service is any act of performance that one party can offer another that is
1. Essentially intangible
2. does not result in the ownership of anything
3. Its production may or may not be tied to a physical product.
Characteristics
Intangibility
Variability
Perishability
Inseparability
Q5 (a) What do you mean by Customer Lifetime Value? (2.5 Marks)
CLV (Customer Lifetime Value) is a prediction of all the value a business will derive
from their entire relationship with a customer
(b) Briefly explain the function of packaging. (2.5 Marks)
Promoting and Selling the Product
Defining Product Identity invokes prestige, convenience, or status
Provides Information UPC symbols, contents, guarantees, nutritional value,
potential hazards
Meeting Customer Needs various sizes, snack kits, etc.
Ensuring Safe Use plastic instead of glass, tamper-resistant packaging,
blisterpacks, childproof containers
Protecting the Product during shipping, storage, and display. Protects food
from spoilage. Helps prevent shoplifting
MKT501 Test (SET-B)
Time Allowed: 45 minutes Max. Marks: 45
Name: Roll number: Section:.
Q1:- State how marketing concept is significantly different from production concept
and selling
Concept. (10 Marks)
The marketing concept first emerged in the 1950s and focuses more on the
customer with a sense-and-respond attitude. Companies that have embraced the
marketing concept have been shown to achieve superior performance than
competitors.
The selling concept argues that members of a market will not purchase enough
product on their own so companies use the hard-sell to increase demand.
Typically used with unsought goods such as insurance or cemetery plots, or when
companies face overcapacity.
Under a production philosophy the company will seek to mass produce products and
to distribute them on a wide scale. The belief is that consumers prefer products that
are widely available and inexpensive.
Q2:- India is considered to be having youngest population in World. Analyze how it
will affect the marketing of any Insurance Company and under which environment it
fall under? (10 Marks)
It will fall in demographic environment.
It country is young, then more plans needs to be there of retirement, pensions etc.
4P needs to align in such a way so that it can hit the need. Answer may vary.
Q3:- Suppose you are going to start a fast food retailing business. How would you
segment the market and which markets will you target? (10 Marks)
Student can use demographic, demographic, psychographic and behavioral
segmentation. Answer will be evaluated on justification and how these are used.
Q4:- Explain the steps in setting the price. (10 Marks)
Q5 (a) What do you mean by Product Life Cycle? (2.5 Marks)
Product life cycle is the cycle through which every product goes through from
introduction to withdrawal or eventual demise
(b) Briefly explain the function of labelling. (2.5 Marks)
1. Identify
2. Grade
3. Describe
4. Promote
