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SELF GYAN

MMPC 06 IGNOU
MARKETING MANAGEMENT
TABLE OF
CONTENTS
01 LONG IMP QUESTIONS
02 EXTRA LONG QUESTIONS
03 VERY IMP SHORT NOTES
04 EXTRA SHORT NOTES
Copyright ©
All rights reserved. No part of this
publication may be reproduced, distributed,
or transmitted in any form or by any means,
including photocopying, recording, or other
electronic or mechanical methods, without
the prior written permission of the copy
right holder,

ये book के वल ignou एग्जाम की तैयारी कराने के

लिए जिससे काम से काम समय में जल्दी आप
तैयारी कर सके और अच्छे मार्क्स ला सकते इसमें
सबसे पहले सबसे इम्पोर्टेन्ट question उसके बाद
काम इम्पोर्टेन्ट question को वरीयता से लिया गया
है आपको बुक को सुरु से अच्छे से पढ़ना है। self
gyan

01
SELF GYAN
IInluces very important

questions only

fully focused for exam

Based on syllabus

Minimum preparation maximum

marks

Easy language

Easy to understand

100 percent result

correct solutions

High quality materials in books

only important questions

as a writer.self gyan
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MMPC 06 MARKETING MANAGEMENT

FIRST PRIORITY MOST IMPORTANT QUESTIONS
Q1- Discuss new product development strategy and new product
development process ? (v v v v v imp)
Ans – NEW PRODUCT DEVELOPMENT STRATEGY - it is very important to have a strategy for
developing new products. Many products fail and in order to keep expanding company sales, we
must have new products. Some products of the then Hindustan Lever Ltd have failed but still they
remain leading manufacturers because they have been innovating continuously and added to their
lines and added product lines to their product mix.

Let us reassess a classic example of the sixties when Hindustan Lever Ltd had introduced ‘HIMA’ peas
which flopped, because, in the words of then Chairman of Hindustan Lever, 'India is not yet ready for
convenience foods, neatly done up in packages.' On the contrary if the same ‘HIMA’ peas were to be
introduced a decade back by the company (now Hindustan Unilever Ltd) then it would have been the
most successful and well accepted product offering by the market. The reason for its success can be
primarily being attributed for the fact that the changing consumer needs and wants, their awareness
of convenience foods and its benefits are in place today, but not during the sixties for its acceptance.
Therefore any product 'concept' requires testing before one goes into product designing and it is
very necessary to have an adequate strategy for developing new products and introducing them.
Several stages must be well defined. Figure III gives the stages in new product development. These
will now be discussed in detail.

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As marketing is aimed at satisfaction of consumer needs, an alert marketer can get some ideas from
the customers for possible new products by keeping his eyes and ear open and more particularly the
mind to perceive even needs which are so far unexpressed. For example, in case of refrigerators,
someone conceived the idea of having a `two-door' refrigerator; another conceived the idea of the
ball point which obviated the need for constantly filling fountain pens. Thus, new ideas can come
from customer needs or problems requiring solution. Company salesmen are a an excellent source
for new idea generation. This is because they are in constant touch with the market, that is, both
consumers and competitors. Watching competitors and what they introduce can also be useful for
new ideas. Finally company executives and even the lower staff can be brought in for discussions.

The Interesting method here is what is known as brain storming. This is basically done to have a flow
of ideas-good and bad. A number of people, say executives of the organisation, are called together
and asked a question for new ideas or ideas for new products. They are asked to mention it without
evaluation. None is criticised. The answers are recorded on a tape recorder (in earlier days) however
today; you have a good number of gadgets to take care of all the recordings audio visually for an
uninterrupted flow. Thereafter, the answers generated are evaluated as will be explained in the next
stage.

Evaluation or Screening of the Ideas

So far, from the first stage, we have received a number of ideas-good and bad. We have now to
screen and evaluate them to reduce their number to what is likely to be useful. This is known as the
`evaluation' or `screening' of ideas stage in this process. Poor ideas must be dropped immediately
because unnecessary cost has to be incurred to process them further. The ideas must be consistent
with the company's philosophy; objectives and strategies and be in terms of the resources available
in the organisation. In general the ideas are screened in terms of

Product Concept Development and Evaluation

Particularly when the product idea is rather revolutionary, the concept itself must be tested. For
example, people talk about `battery driven cars' to save on petrol. This is a concept which has to be
tested in the environment in which the product is sought to be introduced. As already indicated,
Hindustan Unilever failed with their Hima peas and Fast Food in the sixties.. This was a failure of
concept testing. The mention of the failure of Hindustan Unilever Lever is not to run down the
performance of this excellent company but to emphasise that good companies introduce a number
of products some of which may fail

The introduction by Parle's the 'Big Bite' (the hamburger) did fail in some of the regions in Indian
market. Was this due to wrong concept? The answer is probably in the negative. The failure was
because the customer got `soggy' hamburgers at the retail end. Thus there was lack of ‘quality
control’ at the level of the retail outlets which did not supply freshly cooked hamburgers. So you can
see that even if the concept is accepted, a failure can take place in other areas resulting in the
ultimate failure of the product itself. This did not deter the company from going further. Parle’s
introduced Frooti and Appy which are fruit based soft beverages. These are offered in tetra pack.
Thus there is an innovation. The question of whether tetra packs, as packaging material, will succeed
in India or not is a question during their introduction in the late eighties. On the contrary theses soft
beverages so offered in tetra packs were an instant success and there was no looking back using
tetra packs even today, in the 21st century not just by Parle’s but also by other manufacturers
offering a variety and highly diversified products/categories.

Product Designing and Evaluation

If the product idea or the concept passes the test, we then proceed to the engineering or the
production or the R&D stage. So far what we had was only a description or an idea. Now this has to
be converted into a product. Prototypes are developed and tested. The test can be done under
laboratory or field conditions. At this stage of product development, the technical problems, if any,
must be solved. This is because the product must not suffer from complaints regarding quality in
use. Even a small defect might shorten the life cycle of the product as well as spoil the company's
image.

Product Testing Stage

The test marketing may show up something as depicted in Figure IV

It may show that the sales are `excellent', in which case, our decision is easy and we can proceed to
launch the product. As against this, if it shows that the sales are `poor', there are generally two
alternatives available from a practical viewpoint. We can drop the product or modify it and test it
again. If the sales are `fair', we may modify the product or conduct a new market test. The latter is
done when we feel that perhaps there is something wrong with the market test just completed. An
alternative, generally available, is to modify the product in terms of the feedback which has been
received from the market test, and then test again before the final decision is taken to launch the

product commercially or to drop it. One must, however, remember that constant testing involves
further costs. A decision must, therefore, be arrived at as early as practicable.

Hence we can say that the introduction of a new product is not an easy decision. It has to be
weighed very carefully in terms of possible markets, the costs involved and the potential profits. The
question of timing, sometimes, is also relevant. Should the company be the first one to offer a new
`novel' product in the market? In case of small companies, if they do so, they are at a distinct
advantage. However, large companies can afford to wait. For example, Philips entered the Stereo Hi-
Fi system market relatively later. However, they were able to introduce an attractively priced
product, and quickly gained product acceptance because of their long-standing reputation in the
market.

Q2- Importance of packaging , function of packaging , discuss its applications

as a marketing tools , legal dimensions of packaging ? (v v v v v imp)
Ans – PACKAGING

Packaging has been variously defined in both technical and marketing literature. One of the most
quoted definition is `Packaging is the art, science and technology of preparing goods for transport
and sale. This definition brings out two salient aspects of packaging. These are:

The last aspect has been highlighted in another definition of packaging. `Properly designed, the
package should enhance the value of its contained product, and impart that impression, either
directly or subtly, to the customer'. The role of packaging in value enhancement is increasingly
becoming important in not only consumer marketing but across all categories of goods and
products.

PACKAGING INDUSTRY

An understanding of the packaging industry is necessary to fully appreciate the packaging revolution
that has occurred in the consumer and industrial goods sectors. The packaging industry consists
primarily of two distinct segments, firms which manufacture the packaging materials, viz., tin, paper,
plastics, etc. and firms engaged in the formation of packaging, i.e., converting the packaging
materials into unit/master packages. In addition there are other firms engaged in the printing of

labels to be used in the unit/master packages, and the marketing research agencies which conduct
specialised packaging research, generally for package development and adaptation.

Newer materials are constantly emerging in the packaging field and in many cases have eliminated
or threatened the older materials, such as wood and steel, because of the relative cost advantage or
better performance characteristics. The important packaging materials today are

In line with the diversified packaging materials, the packaging formation has also undergone a
revolution. The unit packages of consumer goods consist of a bewildering variety. To appreciate the
new introductions that have come into the market during the 90’s and revolutionized the packaging
function

The master cartons in which the unit packages are packed are, however, getting increasingly
standardised, especially due to the necessity of using containers in order to facilitate physical
handling and shipment as well as to reduce packing costs and loss/damage to the goods during
transit.

FUNCTIONS OF PACKAGING

Packaging should perform the following basic functions: it should (a) protect (b) appeal (c) perform
(d) offer convenience to the end-users and (e) be cost- effective.

Q3- How does the stage of product life cycle and product positioning affect
the pricing decision of a company ? (v v v v v imp)
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Ans – PRICING DURING THE LIFE-CYCLE OF A PRODUCT

Many products generally have a characteristic known as `perishable distinctiveness'. This means that
a product which is distinct when new, degenerates over the years into a common commodity. The
process by which the distinctiveness gradually disappears as the product merges with other
competitive products has been rightly termed by Joel Dean as "the cycle of competitive
degeneration". The cycle begins with the invention of a new product, and is often followed by patent
protection, and further development to make it saleable. This is usually followed by a rapid
expansion in its sales as the product gains market acceptance. Then competitors enter the field with
imitation and rival products and the distinctiveness of the new product starts diminishing. The speed
of degeneration differs from product to product. The innovation of a new product and its
degeneration into a common product is termed as the lifecycle of a product.

There are five distinct stages in the life-cycle of a product as shown in Figure II.

PRODUCT POSITIONING AND PRICE

By `Positioning' we mean the way a product is viewed by the customers in comparison with similar
products. All aspects of the marketing mix must be coordinated to place the product in the right
position in the market segment aimed at the right time. Price is just one element of the marketing
mix and it must reflect the product's position in the market. A toilet soap meant to be a novelty to

attract the elite must be sold at higher price. This is the basic idea behind product differentiation, i.e.
to avoid a situation where the product has to compete only on the basis of price alone.

There are various methods of pricing. The four most commonly used methods are full cost pricing,
pricing for a rate of return going rate pricing and customary pricing. While the first two methods are
based on the costs incurred, the latter methods are based on the competition's pricing. While from
the company's point of view, price represents a king of `maximum' that it can charge given its own
costs and nature of competition, from the customer's viewpoint it is a representation of quality of
the product. Thus, in many cases high price is associated with good quality and vice-versa.

Before designing the pricing strategy in which the choice is between penetrative and skimming
pricing. The marketer must fully understand the connotation of price to a customer. In some a
reduction in price may lead to an increase in sales, while in other cases it may not. This is especially
true in case of industrial products, where the buyer may be more concerned with quality, reliability,
delivery schedules, and after- sales services of the product rather than merely the price. Rather than
a reduced price, what may be more relevant is price discounts in the form of quantity or cash
discounts.

Q4- Discuss what is organizational buying behaviour and step involve in

organizational buying process and factor affect it ? (v v v v v imp)
Ans WHAT IS ORGANISATIONAL BUYING BEHAVIOUR

Individual consumers are not the only buyers in a market. Companies and other organizations also
need goods and services to operate, run their businesses, and produce the offerings they provide to
one another and to consumers. These organizations, which include producers, resellers, government
and nonprofit groups, buy a huge variety of products including equipment, raw materials, finished
goods, labor, and other services. Some organizations sell exclusively to other organizations and
never come into contact with consumer buyers.

B2B markets have their own patterns of behavior and decision-making dynamics that are important
to understand for two major reasons. First, when you are a member of an organization, it’s helpful
to appreciate how and why organization buying decisions are different from the decisions you make
as an individual consumer. Second, many marketing roles focus on B2B rather than B2C marketing,
or they may be a combination of the two. If you have opportunities to work in B2B marketing, you
need to recognize how the decision-making process differs in order to create effective marketing for
B2B customers and target segments.

ORGANISATIONAL BUYING PROCESS

FACTOR AFFECTING ORGANISATIONAL BUYING

Q5- What is concept of market and market segmentation? What is market

targeting and market targeting evaluate ? (v v v v v imp)
Ans MEANING OF MARKET SEGMENTATION

You would agree that any consumer market is composed of a large number of customers. Do you
think that all the customers in a given market are homogeneous in terms of their needs and wants?
Certainly not! Let us take a quick look. We as customers of bathing soap are not alike in terms of
what exactly we ‘need’ from bathing soap. Though we all use bathing soap, we belong to a different
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customer groups. Therefore the firm’s offering bathing soap try to satisfy distinct customer groups
by marketing different types of bathing soaps, for example, beauty soaps, health and hygiene soaps,
herbal soaps, low-priced or popular soaps, and so on. If you observe brands like Lux, Dove, Santoor,
and Vivel are attempting to cater the beauty conscious or niche customer segment while Margo and
Medimix serve the herbal and medicinal segment and Lifebouy and Cinthol to serve the price-
sensitive mass consumption segment.

THE CONCEPT OF A SEGMENT

All brands of smart television sets will appeal to some degree to those in the market for a smart TV
but some brands will appeal to some groups more than others. But, if there were only one brand of
smart TV set, there will be no choice for the buyers. But as the market develops, manufacturers seek
to cater more closely to some groups than to others and buyer choice widens as a result. At the most
detailed level every buyer is a market in himself for every buyer’s “want” is probably distinct in some
way. But on the basis of similarities and differences, such unique wants can be grouped into sub-
classes. What it means is that wants within a sub-class are more related to each other than wants
between sub-classes. Based on the above discussion you can now attempt to explain market
segments and the process of market segmentation. Market segments refer to the sub-classes of the
market reflecting sub-classes of wants and the process of conceptually distinguishing segments is
known as the process of market segmentation.

MARKET TARGETING

A target market is defined as a set of buyers sharing common needs or characteristics that the
company decides to serve.

EVALUATION AND SELECTION OF MARKET SEGMENTS

Based on the criteria discussed above, the marketers make the assessment of the overall
attractiveness of different market segments. The segment’s overall attractiveness should be
evaluated from the viewpoint of a company’s objectives and resources. The segments should also
match the company’s competencies and its vision. Further, the segments will be evaluated based on
their key parameters such as size, growth, profitability, and scale of economies. After analysing
different segments, the company will select one or many segments to serve. For example, a group of
hotels can choose families as its target market or business executives as its target market or female
travellers as its target market or International travellers as its target market. To elaborate further,
the company can choose from the following approaches while selecting one or more segments as
shown in Figure 2.

Q6- What is digital marketing , growing importance of digital market ? what

is the difference between traditional marketing and digital marketing ? (v v
v v v imp)
Ans DEFINITIONS OF DIGITAL MARKETING

Various marketers and authors have from time to time defined digital marketing according to their
different viewpoints, for example:

Difference between traditional marketing and digital marketing

FUTURE AND GROWTH OF DIGITAL MARKETING

Digital Marketing is an evergreen industry where the only constant is ‘change’. Marketers and
entrepreneurs need to understand it. The following are a few emerging Digital Marketing trends to
look forward to with specific emphasis on the marketing channels:

Q7- Discuss product marketing and service marketing and what are the
reason for grant of service sector ? (v v v v v imp)

Ans – service marketing - Service marketing refers to the application of a different set of
tactics or strategies to anticipate the consumer’s need for an intangible product. And thus, meet
their requirements accordingly, to create maximum value for them from their purchase.
The marketing of services is different from the marketing of products. While selling off services,
convincing the consumers and pricing the intangible products is a challenging task.

THE CONCEPT OF SERVICE

The term service is rather general in concept, and it includes a wide variety of services. There are the
business and professional services such as advertising, marketing research, banking, insurance, and
computer-programming, legal and medical advice. Then there are services which are provided by
professionals but consumed for reasons not of business, rather for leisure, recreation,
entertainment and fulfillment of other psychological and emotional needs such as education, fine
arts, etc.

REASONS FOR GROWTH OF THE SERVICE SECTOR

PRODUCT MARKETING

Product marketing is a new concept in marketing. In general, product marketing is the process
of launching a specific product into the market and ensuring its success. Product marketing is a
combination of researching to understand customers’ needs, deciding the product’s positioning,
creating the product’s messaging, and driving demand and revenue for the product.A good product

is nothing if it cannot reach its potential consumers who will benefit from it. Product marketing
involves determining the product’s target audiences and finding approaches to them.

Product marketing plays a significant role in setting the perception of customers and other internal
teams about a product. It makes these people understand the value of the product.

PRODUCT

Q8- What is channel conflict and how to manage cannel conflict ? what is
distribution management and its elements ? (v v v v v imp)

Ans – CHANNEL CONFLICT-

Channel conflict, as the name implies, means that there is some form of conflict in the manner by
which a company delivers a value proposition to a customer, client, or end user. It often refers to a
situation where a manufacturer bypasses all necessary parties in the chain of production and
attends directly to the consumer. In this case, the wholesaler, retailer, and any other party which
was initially involved in transferring the products from the manufacturer to the consumer are cut off
from the negotiations by the producer.

Even when a company has set up an effective distribution system, some friction may arise
between the channel members or between the company and channel members. This
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happens generally due to conflicting business interest. There are generally three types of
channel conflict;

Causes of Marketing Channel Conflict:

Managing channel conflict:

DISTRIBUTION MANAGEMENT CHALLENGES

ELEMENTS OF DISTRIBUTION MANAGEMENT

Traditional Elements:

Emerging elements

Q9- Discuss the factor affecting the pricing decision, importance of costing in
pricing? Discuss the pricing method? (v v v v v imp)

Ans – PRICING DECISIONS- Pricing decisions are the choices businesses make when setting
prices for their products or services.Pricing is considered part of a company’s marketing strategy
because it influences its relationship with customers: When prices are fair and competitive,
customers come back, increasing the profitability of the business.

Price is an important element of the marketing mix. It can be used as a strategic marketing variable to
meet competition. It is also a direct source of revenue for the firm. It must not only cover the costs but
leave some margin to generate profit for the firm. However, price should not be so high as to frighten
the customers. Price is also an element which is highly perceptible to customers and significantly
affects their decisions to buy a product. In general, price directly determines the quantity to be sold.
That is why electric fans are sold at lower prices and hotels reduce their tariffs during off season
periods to attract customers.

DETERMINANTS OF PRICING

Pricing decisions are usually determined by cost, demand and competition. We shall discuss
each of these, factors separately. We take demand first.

Demand The popular `Law of Demand' states that "higher the price; lower the demand, and
vice versa, other things remaining the same''. In season, due to plentiful supplies of certain,
agricultural products, the prices are low and because of low prices, the demand for them
increases substantially. You can test the validity of this law yourself in your daily life. There
is an inverse relationship between price and quantity demanded. If price rises, demand falls
and if the price falls, the demand goes up. Of course, the law of demand assumes that there
should be no change in the other factors influencing demand except price. If any one or more
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of the other factors, for instance, income, the price of the substitutes, tastes and preferences of
the consumers, advertising, expenditures, etc. vary, the demand may rise in spite of a rise in
price, or alternatively, the demand may fall in spite of a fall in price. However, there are
important exceptions to the law of demand. There are some goods which are purchased
mainly for their `snob appeal'. When prices of such goods rise, their snob appeal increases
and they are purchased in larger quantities. On the other hand, as the price of such goods
falls, their snob appeal and, therefore, their demand falls. Diamonds provide a good example.

In the speculative market, a rise in prices is frequently followed by larger purchases and a fall
in prices by smaller purchases. This is specially applicable to purchases of industrial raw
materials. More important than the law of demand is the elasticity of demand. While the law
of demand tells us the direction of change in demand, elasticity of demand tells us the extent
of change in demand. Elasticity of demand refers to the response of demand to a change in
price.

ROLE OF COSTS IN PRICING

There is a popular belief that costs determine price. It is because the cost data constitute the
fundamental element in the price setting process. However, their relevance to the pricing
decision must neither be underestimated nor exaggerated. For setting prices, apart from costs,
a number of other factors have to be taken into consideration. Demand is of equal, and, in
some cases, of greater importance than costs. An increase in cost may appear to justify an
increase in prices yet the demand situation may not permit such an increase. On the other
hand, an increase in demand may make increase in prices possible, even without any increase
in costs. Very often, price determines the cost that may be incurred. The product is tailored to
the requirements of the potential consumers and their capacity to pay for it. Decades ago
when radio manufacturers in India realised that if they have to capture the mass market
prevailing in India, they have to price it at low level which could be done only by reducing
costs-reducing the number of wave-bands in the radio. And now a single wave radio is
available at around Rs. 100. Given the price, we arrive at the cost working backwards from
the price consumers can afford to pay. Over a period, cost and quality are adjusted to the
given price. If costs were to determine prices, why do so many companies report losses?
There are marked differences in costs as between one producer and another. Yet the facts
remains that the prices are quite close for a somewhat similar product. This is, if anything, is
best evidence of that costs are not the determining factor in pricing.

PRICING METHODS

These methods are:

Q10- what is marketing , concept of marketing mix , element of marketing

mix (4Ps) ? (v v v v v imp)

Ans – MARKETING - Marketing refers to the process of ascertaining consumer needs,

converting them into products and services, and then moving the product or service to the
final consumer segment with emphasis on profitability and customer satisfaction, and
ensuring the optimum use of the resources available to the organization. Marketing is the
process of planning and executing the conception, pricing, promotion, and distribution of
ideas, goods, and services to create exchanges that satisfy individuals and organizational
objectives. According to Philip Kotler, marketing is a social and managerial process by which
individuals and groups obtain what they need and want through creating and exchanging
products and value with others. The author has considered marketing as a social process
where interaction of people is an essential component of it. Through this interaction the
persuasion for selling the products or services begins. Thus marketing is purely purchase
decision of the customer but through continuous marketing initiatives at different stages.
Marketing starts before the production of the goods and continues even after the selling of the
products. Thus it is assumed marketing is a continuous process. While the activities
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pertaining to identification of the needs, wants and demands of the customer, then designing
of a suitable product to meet the needs, giving name to the product and converting it to a
brand by communicating it to the customers.

CONCEPT OF MARKETING

“Marketing is the performance of business activities that directs the flow of goods and
services from producer to consumer or user”.

Later on the American Marketing Association revised its definition of marketing as “the
activity, set of institutions, and processes for creating, communicating, delivering, and
exchanging offerings that have value for customers, clients, partners, and society at large.”
This definition attempted to highlight the importance of exchange processes that occur
between the seller and the buyer. As we move on to discuss about the subject matter of
marketing, we would understand the meaning of this definition better

Now let’s look at the definition of Marketing in the words of Philip Kotler. According to him,
marketing management is: The art and science of choosing target markets and getting,
keeping, and growing customers through creating, delivering, and communicating superior
customer value.

CONCEPT OF MARKETING MIX

Marketing is the process of identifying, anticipating, and satisfying customers' requirements

with the purpose of making profits. This process involves the marketer to consider various
marketing decisions to make the operations profitable. It is essential to identify that the
required combination of marketing policies and procedures so as to adopt and bring about
desired behaviour of trade and consumers at a minimal cost. They have to decide how
elements of marketing, advertising, personal selling, pricing, packaging, channels,
warehousing etc. be combined to make marketing operations profitable. More specifically,
they have to decide a marketing mix - a decision making method in relation with the product,
price, promotion, and place.

Definitions of Marketing Mix

According to Philip Kotler, “ Marketing mix is the combination of four elements called the
4P’sProduct, Price, Promotion and Place that every company has the option of adding,
subtracting or modifying in order to create a desired marketing strategy”. According to Kotler
and Armstrong, “Marketing mix is the set of tactical marketing tools that the firm blends to
produce the response it wants in the target market”. According to W. J. Stanton, “Marketing
mix is the term used to describe the combination of the four inputs which constitute the core
of a company’s marketing system: the product, the price structure, the promotional activities
and the distribution system”

ELEMENTS OF MARKETING MIX (4Ps)

McCarthy classified different marketing activities of a firm into four elements way back
during the sixties which are popularly known as the Four Ps of marketing-mix namely
Product, Pricing, Placing, and Promotion.

Product is the first and most important element of the marketing mix. The word product
stands for goods or services offered by the company. Once the needs are identified, it is
necessary to plan the product and after that keep analysing whether the product still satisfies
the needs which were originally planned for, and if not, to determine the necessary changes.
You will learn this in greater detail when we talk about product decisions. Product decisions
involve making coordinated decisions on product mixes, product lines, branding and
packaging. Products are of different types namely Non-durable, durable, and services.
Companies often sell more than one brand. Brands can be differentiated on the basis of
product form, features, performance, style and design, and also service dimensions such as
ease of ordering, delivery, and after-sale service. The product life cycle concept enables
marketers in planning, controlling, forecasting, and responding to the challenges posed by
different stages of the life cycle.

Pricing is a critical element of marketing. Pricing decisions are complex and difficult
decisions to make. Marketers consider many factors while making pricing decisions: the
company, the customers, the competition, and the marketing environment. Pricing policy
should be consistent with the firm’s marketing strategy, target customers and brand
positioning. Firms should follow a systematic procedure in setting pricing policies. Firms
should change their prices based on the need, and they must carefully manage customer
perceptions while doing so. They must predict price changes to be initiated by competitors
and prepare appropriate responses.

Placing involves ascertaining the right design and combination of marketing channels and
managing these integrated marketing channels. Most companies do not carry out direct
marketing. Between companies and final customers stand intermediaries or middlemen such
as wholesalers and retailers. Some of the important functions performed by intermediaries are
information, promotion, negotiation, 27 ordering, financing, risk-taking, physical possession,
payment, and the title. While deciding the types of channels to be used, the marketers analyse
customer needs, establish channel objectives, and identify and evaluate the major alternatives.
The advent of E-commerce has grown in importance and many companies nowadays adopted
“brick-and-click” channel systems in addition to their brick and mortar being in place so as to
capitalise on the strengths of online and offline marketing.

Promotion deals with designing and formulating an integrated marketing communication

model for the business in order to communicate with present and potential stakeholders. The
marketers integrate mass, non-personal communications (advertising, sales promotion, events
and experiences, and public relations and publicity); and personal communications (direct
and interactive marketing, word-of-mouth marketing, and personal selling). Today,
interactive marketing is growing at a faster pace through the company’s Websites, search ads,
and e-mails.

Promotion deals with designing and formulating an integrated marketing communication

model for the business in order to communicate with present and potential stakeholders. The
marketers integrate mass, non-personal communications (advertising, sales promotion, events
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and experiences, and public relations and publicity); and personal communications (direct
and interactive marketing, word-of-mouth marketing, and personal selling). Today,
interactive marketing is growing at a faster pace through the company’s Websites, search ads,
and e-mails.

Q11- What is organizational buying behaviour and step involve in

organizational buying process and factor affect it ? (v v v v v imp)

Ans – ORGANISATIONAL BUYING BEHAVIOUR-

According to Pette D. Bennett, “Organizational buying behavior is the decision making

process by which a buying group establishes the needs for goods and services and identifies,
evaluate, and chooses among alternative brand and suppliers.” According to W. M. Pride and
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O. C. Ferrel, “Organizational buying behavior refers to the purchase behavior of producers,

government units, institutions and resellers.” Thus it’s evident from the above definitions that
Organizational Buying Behaviour is a complex decision-making and communication process
involving selection and procurement of product and services by organizational buyers.

While organizational behavior refers to the buying behavior of organizations that buy
products for business use, resell or to make other products. These organisations include other
businesses, industries, retailers etc. Similarly, government bodies buy goods for office and
conducting development program. Non-governmental organizations, hospitals, educational
institutes, social organizations, religious organizations etc. buy goods to provide services to
their clients or customers

ORGANISATIONAL BUYING PROCESS-

Organizational buying behaviour or buying process refers to the process of how companies or
organizations buy goods and services. Organizational Buying is not an easy task as perceived
by most people. On the contrary it is a complex process and procedure involving critical
external and internal factors and more importantly the participation of people of varied
positions and their experiences at all stages of buying process.

Organizational buying processes include eight stages. In practice the organization may go
through all of these stages sequentially or it may change some of them. This depends on
buying quantity, buying price, nature of goods, buying frequency etc.

FACTOR AFFECTING ORGANISATIONAL BUYING

Q12- What is product , nature and concept of the product? Discuss product
classification ? (v v v v v imp)

Ans – NATURE AND CONCEPT OF PRODUCT

PRODUCT CLASSIFICATION

SECOND PRIORITY MOST IMPORTANT QUESTIONS

Q13- Discuss marketing communication , promotional mix elements and

integrated marketing communication ,its tools ? (v v v v v imp)

Ans – MARKETING COMMUNICATION AND PROMOTIONAL MIX ELEMENTS

Any communication process several elements and steps are involved. In the context of
marketing communication, a manufacturer or company or brand is the source (or sender),
while prospective or existing consumers are at the receiver of the communication. Message is
the product information or details which are to be communicated to the target group in a
creative and interesting way. The channel is various media options such as newspapers, TV,
radio, magazines, hoardings etc. which can be used to reach the target audience. The success
of a marketing communication activity depends on a company’s ability to convey the
message effectively in a manner in which the customers should understand and interpret the
intended message. A marketing communication is considered effective if it achieves its
objectives such as increased sales, improved brand recall, increased awareness etc. This is
equivalent to the feedback, as discussed in the process of communication.

Having accepted as one of the important ‘P’s of marketing mix, marketing communication is
synonymous to Promotion and the elements include (Advertising, Publicity, Sales Promotion
and Personal Selling) which are employed by the firm for the purpose of awareness creation,
image building, and for sales all the four methods constitute promotional mix elements.
Every one of us does come across various promotional mix elements on a daily basis. When
we read newspaper in the morning or watch news channel or watch our favorite TV show or
watch music videos on YouTube, or visit a nearby shop or store to buy some product, when
we go to a shopping mall for shopping or entertainment, the hoardings on the street, wall
paintings, banners, posters while traveling by road; we come across these elements of
promotional mix viz. Advertising, Publicity, Public Relations (PR), and Sales Promotion
messages etc. The committee on definitions of the American Marketing Association defines
these components as under:

INTEGRATED MARKETING COMMUNICATION AND ITS TOOLS

across a pop-up ad of ‘Drivo’. While leaving office for home, you see that a guy is sitting
beside a canopy tent which is installed in the parking of your office building. On close
observation you find the newly launched ‘Drivo’ inside the canopy tent. Finally, at home,
while watching cricket match on TV, you see a 30-sec advertisement of ‘Drivo’ during
commercial break. The above is a hypothetical example to explain how a brand makes all
attempts to reach their potential market segments with messages and being visible by using
all the elements of the promotion mix. This explains clearly what IMC is all about. In this
case, the company was using a combination of various tools (Advertising, Digital Marketing,
and BTL activity, Outdoor etc.) to communicate to their potential consumers in awareness
creation about the brand Drivo and to persuade them to consider purchasing.

Q14- Discuss the role and type of advertising? Discuss how an advertising
copy developed ? (v v v v v imp)

Ans – TYPES OF ADVERTISING

ROLE OF ADVERTISING

In the pursuit of its purpose, the economic and social effects of advertising have become the
subjects of continuing debate. A quick flavor of the arguments put forward on both the sides
can be had from Table 1. The table presents two viewpoints, one considering advertising as
an information disseminating utility function and the other viewing advertising as a source of
market power. On balance, advertising has carved an indispensable place for itself in the
marketing mix of a firm. Philip Kotler very aptly refers to the following situations where
advertising is likely to make greater contribution. The situations are:

DEVELOPING ADVERTISING COPY AND MESSAGE

This decision-area relates to creative aspect of advertising. Studies reveal that advertising
effectiveness to a very large extent is dependent on the type of message and copy selected for
communication, and the way it is executed. Well conceived advertising objectives guide in
the development of effective message and copy. An advertisement copy is the communicative
portion of an advertisement. It includes headline, illustration, body copy (incorporating
product and selling appeals) and signature line identifying the sponsor of the advertisement.
A review of the history of advertising reflects the diversity of opinions among creative teams
as to what makes an effective copy. Over a period of time certain creative styles have got
associated with particular individuals or agencies using them.

Q15- Discuss the concept benefits and strategies of digital marketing ? (v v v

v v imp)

Ans – DIGITAL MARKETING

One of the many challenges faced by every business today is to catch the customers’
attention. Marketing has assumed an even more critical role in not only attracting, engaging
but also retaining the customers. With the entry of large number of big and small players, the

domestic as well as global markets are becoming saturated. This saturation has led the
marketers into exploring and using newer platforms for reaching out to the customers.
Internet has emerged as an efficient way to reach and attract a larger number of tech savvy
consumer base.

People usually get confused between Marketing and Digital Marketing. So, prior to moving
ahead let’s get this confusion be cleared in the minds of the people. Digital marketing is not
different from marketing. The principles and significance of marketing remains the same.
Digital marketing is just one of the many different marketing mediums and platforms.

Introduction to Digital Marketing

Digital marketing is a broad term that describes all the marketing activities to promote a
given product or service using any form of digital channels and requires the use of an
electronic device such as a smart phone; laptop, a P C etc. It includes all the platforms from
Television ads, digital billboards, to social media. Digital marketing communication is not
limited to the internet only. Internet marketing, as the name suggests refers to any marketing
activity that requires internet to connect with the audience. It is a subset of digital marketing.
The whole focus of Internet marketing is to build online presence for the product or service
being marketed. With the advent of internet, this mode of marketing becomes critical for
companies to connect, engage and retain its customers.

The advantages of digital marketing:

An overview of some Digital Marketing Strategies:

Q16- Discuss rural marketing evaluation and its relevance and trends? (v v v v
v imp)

Ans – Rural Market in India

With about 65.5% of population living in the villages (World Bank, 2020) and generating
nearly half of the national income, the rural market has a very significant and critical place in
the Indian marketing environment. The huge potential of this rural market along with the
saturation in urban markets has caught the interest of all the companies big and small to
explore and exploit the growing demand for all product categories and services offerings
being offered by the businesses

An Overview and Importance of Rural marketing

The underlying reasons for the growing importance given to rural marketing and the need for
a suitable framework of marketing strategies for the rural market are diverse in nature.
Firstly, the fact that not only a huge proportion of the population is residing in the villages but
also their purchasing capacity is increasing. According to Indian Brand Equity Foundation 17
(2021), the rural FMCG market is expected to grow to US$ 220 billion by 2025. The rural
markets are witnessing higher rate of growth in the FMCG sector as compared to their urban
counterpart. Major players in the category of FMCG like Hindustan Unilever Limited (HUL),
Nestle, Britannia, ITC, Marico etc are targeting the rural market in a big way. Rural segment
is also seen as a very lucrative segment by the electronics and Smartphone companies thanks

to the significant young population living in Rural India. This segment has higher brand
awareness, evolving aspirations, internet access and affordability.

Nature of Rural Marketing Transactions

Initially rural marketing was synonymously used with agriculture marketing, but the
spectrum of transactions and activities that come under rural marketing is much wider and
deeper.

Challenges in Rural Marketing

Rural market undoubtedly is one of the most attractive destinations for all the brands, but it is
not free from challenges. This market is not only large, but also geographically scattered. The
rural market is quite complex and cannot be considered as a homogenous segment because of
the multiplicity of languages spoken, wide variations in the economic conditions and
sociocultural norms prevalent there. The major challenges in tapping this rural market are:

Q17- What is distribution management? Discuss need of channel distribution

and different channel distribution ? (v v v v v imp)

Ans – Rural Market in India

The function of distribution is in providing three utilities namely place, time and possession.
For example, if you need a notebook, you will go to the nearest stationery shop and purchase
a “Classmate” notebook. This nearest stationery shop offers you “Place” utility. You could
get the notebook close by your residence. If you need to buy a gel pen at 9.00 pm then also
you can go and purchase it at that time. So you get “time” utility. Having purchased the
notebook and pen and you can take it back home. You get “possession” utility. In all these
instances, ITC, a leading Indian Multinational company sells “Classmate” notebook and
Cello Pens India, which sells “Cello Pointec Gel Pens”, has ensured that you can avail of all
the three utilities very conveniently without any difficulty

Let’s look at a couple of definitions of distribution as per the American Marketing

Association, “distribution refers to the act of marketing and carrying products to consumers.
It is also used to describe the extent of market coverage for a given product. In the 4 Ps,
distribution is represented by the word place or placement”. According to Mossman &
Norton “distribution is the operation which creates time, place and form utility through the
movement of goods and persons from one place to another”

To sum up, distribution management can be defined as a combination of all activities

which facilitates movement and co-ordination of supply and demand in creation of time,
place and possession utility in goods. It is the art and science of determining requirements,
obtaining them, distributing them and finally maintaining them in an operationally prepared
condition. Therefore, the broad range of activities concerned with the efficient movement of
finished products from the end of the production line to the consumer and also the movement
of raw materials from the source of supply to the beginning of the production line, fall under
the domain of Distribution Management

NEED FOR DISTRIBUTION MANAGEMENT

we saw that “Classmate” Notebook was made available at the local stationery shop through
distribution management. It is manufactured by ITC, which has its headquarters in Kolkata.
To reach out to its customers, ITC has an unmatched distribution network. Its products are
available in 4.3 million retail shop/outlets/stores in India. ITC constantly tries to make the
products reach to the retailers as quickly as possible. ITC's Paperboards and Specialty Papers
Division has four manufacturing units, eight regional sales offices and over sixty dealers in
India. At the backend ITC sources good quality raw materials from 17 states in India through
its e-choupal network.

CHANNELS OF DISTRIBUTION

Distribution channels are the methods by which companies deliver products and services to
customers and end users. Some businesses sell directly to their customers, while others might
use a retailer or wholesaler to serve as an intermediary. Companies may also use agents or
brokers to facilitate the movement of products to distributors that sell those wares to the
customer. At the beginning of this unit we had discussed the examples of “Classmate”
notebooks. The company has chosen an extensive network of dealers and retailers to reach
you. When the business is on a 6 small scale like a local sweet shop, the customers can
directly go and purchase from the shop. In such cases, the business and the customers are in
close proximity. Suppose this sweet shop expands, and starts making other products, it would
require a larger customer base. These customers might not be in close range of the exact
shop. Their product might be sold through someone to customers who are residing far off.
This “someone” becomes an intermediary. Haldiram is one such sweet company which has
gone on such a large scale and expanded its business that now it has various ways/channels to
reach the customer more conveniently.

TYPES OF DISTRIBUTION CHANNELS

Q18- Discuss different type of digital marketing with future and growth of
digital market ? (v v v v v imp)

Ans – DIFFERENT TYPES OF DIGITAL MARKETING

FUTURE AND GROWTH OF DIGITAL MARKETING

Digital Marketing is an evergreen industry where the only constant is ‘change’. Marketers
and entrepreneurs need to understand it. The following are a few emerging Digital Marketing
trends to look forward to with specific emphasis on the marketing channels:

Extra question if have time in exam

Q19- Meaning scope and procedure of conducting marketing research ? (v v

v v v imp)

Q18- Discuss Factor influencing consumer behaviour? (v v v v v imp)

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MMPC 06 MARKETING MANAGEMENT

Evaluation or Screening of the Ideas

Product Concept Development and Evaluation

Product Designing and Evaluation

Product Testing Stage

The test marketing may show up something as depicted in Figure IV

Q2- Importance of packaging , function of packaging , discuss its applications

Ans – PRICING DURING THE LIFE-CYCLE OF A PRODUCT

PRODUCT POSITIONING AND PRICE

Q4- Discuss what is organizational buying behaviour and step involve in

ORGANISATIONAL BUYING PROCESS

FACTOR AFFECTING ORGANISATIONAL BUYING

Q5- What is concept of market and market segmentation? What is market

THE CONCEPT OF A SEGMENT

EVALUATION AND SELECTION OF MARKET SEGMENTS

Q6- What is digital marketing , growing importance of digital market ? what

Difference between traditional marketing and digital marketing

FUTURE AND GROWTH OF DIGITAL MARKETING

THE CONCEPT OF SERVICE

REASONS FOR GROWTH OF THE SERVICE SECTOR

Ans – CHANNEL CONFLICT-

Causes of Marketing Channel Conflict:

Managing channel conflict:

DISTRIBUTION MANAGEMENT CHALLENGES

ELEMENTS OF DISTRIBUTION MANAGEMENT

ROLE OF COSTS IN PRICING

These methods are:

Q10- what is marketing , concept of marketing mix , element of marketing

Ans – MARKETING - Marketing refers to the process of ascertaining consumer needs,

CONCEPT OF MARKETING MIX

Marketing is the process of identifying, anticipating, and satisfying customers' requirements

Definitions of Marketing Mix

ELEMENTS OF MARKETING MIX (4Ps)

Promotion deals with designing and formulating an integrated marketing communication

Promotion deals with designing and formulating an integrated marketing communication

Q11- What is organizational buying behaviour and step involve in

Ans – ORGANISATIONAL BUYING BEHAVIOUR-

According to Pette D. Bennett, “Organizational buying behavior is the decision making

O. C. Ferrel, “Organizational buying behavior refers to the purchase behavior of producers,

ORGANISATIONAL BUYING PROCESS-

FACTOR AFFECTING ORGANISATIONAL BUYING

Ans – NATURE AND CONCEPT OF PRODUCT

SECOND PRIORITY MOST IMPORTANT QUESTIONS

Q13- Discuss marketing communication , promotional mix elements and

Ans – MARKETING COMMUNICATION AND PROMOTIONAL MIX ELEMENTS

INTEGRATED MARKETING COMMUNICATION AND ITS TOOLS

Ans – TYPES OF ADVERTISING

DEVELOPING ADVERTISING COPY AND MESSAGE

Q15- Discuss the concept benefits and strategies of digital marketing ? (v v v

Ans – DIGITAL MARKETING

Introduction to Digital Marketing

The advantages of digital marketing:

An overview of some Digital Marketing Strategies:

Ans – Rural Market in India

An Overview and Importance of Rural marketing

Nature of Rural Marketing Transactions

Challenges in Rural Marketing

Q17- What is distribution management? Discuss need of channel distribution

Ans – Rural Market in India

Let’s look at a couple of definitions of distribution as per the American Marketing

To sum up, distribution management can be defined as a combination of all activities

NEED FOR DISTRIBUTION MANAGEMENT

TYPES OF DISTRIBUTION CHANNELS

Ans – DIFFERENT TYPES OF DIGITAL MARKETING

FUTURE AND GROWTH OF DIGITAL MARKETING

Extra question if have time in exam

Q19- Meaning scope and procedure of conducting marketing research ? (v v

Q18- Discuss Factor influencing consumer behaviour? (v v v v v imp)

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