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SEM 3 – MK

Summer 2012

Master of Business Administration – MBA Semester 3

Mk0010 — Sales, Distribution and Supply Chain Management- 4 Credits

Book ID: B1220

Assignment Set- 1 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

 

 

Q.1 Explain any two types of sales organisation structures.

 

Answer  :  Different types of Sales Organization

 

1) Organizing the Sales Force

:An effective sales force is a powerful asset for any company. Doctors & physicians in United States have consistently ranked Pfizer’s sales force as one of the best in the pharmaceutical industry. As a result, when Parke-Davis launched its blockbuster cholesterol-lowering drug, Lipitor, it entered into an alliance in which Pfizer’s sales force helped selling the drug to physicians throughout the United States. A company’s management process is fundamentally affected by the firm’s overall business strategy and its strategy for accessing its target markets. The relationship between business strategies, a firm’s marketing strategy, and a firm’s strategic sales force program is discussed in this unit. Sales force organization is primarily a function of properly sizing the sales organization to assure that customers and prospects receive appropriate coverage, company products get proper representation, and the sales force is stretched but not overworked. The appropriate planning of the sales force will also depend on the size of the opportunity a firm faces and its expected sales level.

 

2)Roles & Structure of the Sales Force:

To be successful and produce profitable results, the sales force must implement a firm’s business strategy and market access strategy. In other words, strategic plans are implemented through the activities and behaviours of the sales force. Key sales force behaviours include calling on certain types of customers and prospects, managing customer relationships and creating value for individual customers. The role of the sales force in implementing a firm’s market access strategy is very important. To meet customer needs efficiently and effectively and to sell the firm’s products and services, a sales force must be well organized. Sales force structure decisions influence how customers seethe firm because sales force structure will affect the selling skills and knowledge level required of salespeople. In turn, sales management activities such as compensation, recruitment, training, and evaluation are affected.

 

3) Building Sales Competencies:

Sales managers are responsible for hiring salespeople with the appropriate skills and backgrounds to implement the sales strategy. Good sources must be found for new hires, and those who are weak in these areas must be carefully screened out. In addition to hiring qualified people, salespeople’s competencies are usually developed through training before they are sent into the field. Sales managers are responsible for making sure that training is completed, and they often conduct some of the classes. Most initial training programs are designed to familiarize salespeople with the company’s products, services, and operating procedures, with some time devoted to development of selling skills. Because sales training is expensive, the sales manager is responsible for selecting the most cost-effective methods, location, and materials.1

 

 

4)Leading the Sales Force:

Effective sales managers know how to supervise and lead their salespeople. Sales managers provide leadership by inspiring people to grow and develop professionally, while achieving the revenue goals of the firm. Good leaders provide models of behaviour for employees to emulate, often developing strong mutual trust and rapport with subordinates. Leadership styles vary, but effective leaders are adept at initiating structure — that is, organizing and motivating employees, setting goals, enforcing rules, and defining expectations. In addition to leading the sales force in business results, sales managers are also expected to lead by example in encouraging ethicalbehavior within the sales force. Salespeople are continually confronted with ethical dilemmas. Sales managers use a variety of tools in their efforts to motivate salespeople to work more efficiently and effectively.1

 

5)Goal directed effort:

There are many techniques that have proved to be effective motivators, including sales meetings, quotas, sales contests, and recognition awards. The most powerful motivator for salespeople is often a well-designed compensation package. Money is an important consideration for attracting and motivating people to work hard. A key task for sales managers is to devise an effective mix of salary, bonuses, commissions, expenses, and benefits without putting the firm’s profitability in jeopardy.

 

6) Evaluate the performance of the sales force:

The final step in the sales management process is to evaluate the performance of the sales force and develop the skills of their people. This involves analyzing sales data by account, territory, and product line breakdowns. It also means reviewing selling costs and measuring the impact of sales force activities on profits.

 

 

 

 

 

 

Q.2 Explain different sales strategies.

 

 

 

 

Q.3 What do you mean by compensation? Explain various modes of compensating sales team.

 

 

Q.4 What are the challenges faced by International sales managers?

 

 

 

Q.5 What do you mean by relationship marketing & also explain three types of consumer.

 

Q.6 Assume yourself to be the sales manager of a car showroom. How will you ensure that the selection procedure is smooth and you select right candidates for the job?

 

 

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Master of Business Administration – MBA Semester 3

Mk0010 — Sales, Distribution and Supply Chain Management- 4 Credits

Book ID: B1220

Assignment Set- 2 (60 Marks)

 

Note: Each question carries 10 Marks. Answer all the questions.

 

Q.1 What do you mean by physical distribution management? Describe various components of it.

 

Answer  :  This has been defined as the study and evaluation of the relative profitability or costs of different marketing operations in terms of customers marketing units, commodities, territories or services.
As you read earlier in the lesson physical distribution cost in the third largest component in the total cost of business operations. Hence there is good scope for cost reduction in this area as it has not received the attention due to it till recent years.
One feature of distribution costs distinguishing them from other functional costs is that they have to be looked upon as a unit. Indiscriminate cost reduction in any one of the individual cost elements, such as inventory maintenance, warehousing, transportation or clerical services, can have a disastrous effect on the efficiency of the system as a whole e.g., if we cut inventories it will save capital investment and the costs of supplying capital and it may save some expenses in storage, taxes and insurance. On the other hand a cut in inventory levels may seriously affect reliability of the delivery service to customers. As Mr. John F Magee puts it, it saves money but destroys competitive position.
Similarly a cut in transportation costs will result in lack of flexibility and responsiveness to market changes more inventories at more stock points will need more investment and will increase the risk of obsolescence.
Again refusal to allow any cost increase may be equal damaging. It may mean wiping out an opportunity for improving the efficiency of the distribution system as a whole. The use of high speed data processing and communications may increase the cost of distribution. But they will cut down the delays in feeding information back to production and control the lags in the movement of materials into the distribution system in response to customer demand. Thus they may actually cut total distribution costs.

Distribution Costs
The following is meant to be a tentative list of various costs of distribution. They are not exhaustive.
1. Costs of transportation by common carrier, contract carrier or firms own transport equipment.
2. Warehousing costs in public or private facilities
3. Order handling costs
4. Packing costs
5. Inventory costs of
a) Insurance
b) Taxes
c) Handling
d) Obsolescence
e) Capital invested

Ever since marketing managers began to express concern for the distribution function the total cost approach borrowed from logistics and operations research, many firms have achieved tremendous improvement in their performance and profitability.
Even before we can analyze the distribution costs by evolving proper criteria we face a major difficulty. Many concerns do not collect these costs under the separate heading of distribution costs. In actual practice these costs are lost in unlikely cost centres or manipulated to satisfy departmental or individual requirement. In other worth managements, as a matter of policy may not identify distribution costs. In a recent investigation into distribution cost in the U.K. the finding was that most firms contracted were unable to produce a composite breakdown of their distribution costs. In the final analysis the identified distribution costs varied from 3% to 42% of sales.
In some industries especially perishable goods and fashion goods industries distribution costs are critical and may represent the major trading cost.

Major Stumbling blocks is distribution cost analysis
1. Problems is the attempt to break down total distribution costs into specific components of cost.
2. Difficulties in apportioning these costs to different cost centres of cost units. The common bases adopted are product groups, market segments, geographic location, etc or a combination of these.
3. Problems in the measurement of actual cost associated with a particular distribution activity and in the estimation of future cost in the light of a distribution changing environment.
It is generally agreed that the functions of production or manufacturing have been terminated when a product has been placed in a saleable state and that the distribution function has begun.
Distribution costs can broadly classified and accounted for it terms of sales departments, territories, salesmen, lines of products, sales and production orders and customers, or a combination of these.

To provide adequate detail the accounting system provides the following records

1. Controlling accounts in the general Ledger to reflect the total cost of sales division and administrative division.
2. A subsidiary ledger supporting each of the divisional controlling accounts or recording the objects of selling and administrative expenses such as salaries, supplies, taxes, insurance, deprecation etc.
3. Proper procedure for allocating the items of distribution costs among territories products salesman or other desired breakdowns.
4. Budgets and standards for distribution costs.

The Objectives of the accounting system described above are as follows
1. Classification and accounting for distribution costs by channels of distribution, departments, territories, salesman, orders, lines of products and customers comparative statements being submitted to management periodically.
2. Preparation and user of standards for distribution functions to control costs by delegating responsibility, establishing measures of efficiency providing incentives to personnel and supplying predetermined costs as an aid in budget preparation and formulation of pricing policies.
3. Analysis of distribution costs as a guide to management in making current business decisions and setting future policies.

                                                          

 

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Q.2 What are the various types of distribution channels?

Q.3 Describe the various types of retailers.

 

 

 

Q.4 What are logistical operations? What are the major components of logistical operations?

 

 

 

 

Q.5 Explain vertical, horizontal and Multi-channel marketing system in detail.

 

 

 

 

 

Dear Students,

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message Format – SMU MBA <Name> <E-MAIL ID> <SEM ? >  To +91 9995105420 , we will reach back you with in 24H

Or Directly call our Middle East Office +974 55702886 .

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Q.6 Explain the various strategies of supply chain management

 

 

 

 

 

 

 

Summer 2012

Master of Business Administration – MBA Semester 3

Mk0010 — Sales, Distribution and Supply Chain Management- 4 Credits

Book ID: B1220

Assignment Set- 1 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

 

 

Q.1 Explain any two types of sales organisation structures.

 

Answer  :  Different types of Sales Organization

 

1) Organizing the Sales Force

:An effective sales force is a powerful asset for any company. Doctors & physicians in United States have consistently ranked Pfizer’s sales force as one of the best in the pharmaceutical industry. As a result, when Parke-Davis launched its blockbuster cholesterol-lowering drug, Lipitor, it entered into an alliance in which Pfizer’s sales force helped selling the drug to physicians throughout the United States. A company’s management process is fundamentally affected by the firm’s overall business strategy and its strategy for accessing its target markets. The relationship between business strategies, a firm’s marketing strategy, and a firm’s strategic sales force program is discussed in this unit. Sales force organization is primarily a function of properly sizing the sales organization to assure that customers and prospects receive appropriate coverage, company products get proper representation, and the sales force is stretched but not overworked. The appropriate planning of the sales force will also depend on the size of the opportunity a firm faces and its expected sales level.

 

2)Roles & Structure of the Sales Force:

To be successful and produce profitable results, the sales force must implement a firm’s business strategy and market access strategy. In other words, strategic plans are implemented through the activities and behaviours of the sales force. Key sales force behaviours include calling on certain types of customers and prospects, managing customer relationships and creating value for individual customers. The role of the sales force in implementing a firm’s market access strategy is very important. To meet customer needs efficiently and effectively and to sell the firm’s products and services, a sales force must be well organized. Sales force structure decisions influence how customers seethe firm because sales force structure will affect the selling skills and knowledge level required of salespeople. In turn, sales management activities such as compensation, recruitment, training, and evaluation are affected.

 

3) Building Sales Competencies:

Sales managers are responsible for hiring salespeople with the appropriate skills and backgrounds to implement the sales strategy. Good sources must be found for new hires, and those who are weak in these areas must be carefully screened out. In addition to hiring qualified people, salespeople’s competencies are usually developed through training before they are sent into the field. Sales managers are responsible for making sure that training is completed, and they often conduct some of the classes. Most initial training programs are designed to familiarize salespeople with the company’s products, services, and operating procedures, with some time devoted to development of selling skills. Because sales training is expensive, the sales manager is responsible for selecting the most cost-effective methods, location, and materials.1

 

 

4)Leading the Sales Force:

Effective sales managers know how to supervise and lead their salespeople. Sales managers provide leadership by inspiring people to grow and develop professionally, while achieving the revenue goals of the firm. Good leaders provide models of behaviour for employees to emulate, often developing strong mutual trust and rapport with subordinates. Leadership styles vary, but effective leaders are adept at initiating structure — that is, organizing and motivating employees, setting goals, enforcing rules, and defining expectations. In addition to leading the sales force in business results, sales managers are also expected to lead by example in encouraging ethicalbehavior within the sales force. Salespeople are continually confronted with ethical dilemmas. Sales managers use a variety of tools in their efforts to motivate salespeople to work more efficiently and effectively.1

 

5)Goal directed effort:

There are many techniques that have proved to be effective motivators, including sales meetings, quotas, sales contests, and recognition awards. The most powerful motivator for salespeople is often a well-designed compensation package. Money is an important consideration for attracting and motivating people to work hard. A key task for sales managers is to devise an effective mix of salary, bonuses, commissions, expenses, and benefits without putting the firm’s profitability in jeopardy.

 

6) Evaluate the performance of the sales force:

The final step in the sales management process is to evaluate the performance of the sales force and develop the skills of their people. This involves analyzing sales data by account, territory, and product line breakdowns. It also means reviewing selling costs and measuring the impact of sales force activities on profits.

 

 

 

 

 

 

Q.2 Explain different sales strategies.

 

 

Dear Students,

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message Format – SMU MBA <Name> <E-MAIL ID> <SEM ? >  To +91 9995105420 , we will reach back you with in 24H

Or Directly call our Middle East Office +974 55702886 .

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Best Regards, Admin

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Q.3 What do you mean by compensation? Explain various modes of compensating sales team.

 

Q.4 What are the challenges faced by International sales managers?

 

 

 

Q.5 What do you mean by relationship marketing & also explain three types of consumer.

 

Q.6 Assume yourself to be the sales manager of a car showroom. How will you ensure that the selection procedure is smooth and you select right candidates for the job?

 

 

Dear Students,

Get your assignments from Our ESTEEMED ORGANIZATION smumbaassignment.com 

Just email to kvsude@gmail.com  or  S M S  to +91 9995105420.

message Format – SMU MBA <Name> <E-MAIL ID> <SEM ? >  To +91 9995105420 , we will reach back you with in 24H

Or Directly call our Middle East Office +974 55702886 .

More Info, Kindly visit  smumbaassignment.com

Best Regards, Admin

smumbaassignment.com

 

 

Master of Business Administration – MBA Semester 3

Mk0010 — Sales, Distribution and Supply Chain Management- 4 Credits

Book ID: B1220

Assignment Set- 2 (60 Marks)

 

Note: Each question carries 10 Marks. Answer all the questions.

 

Q.1 What do you mean by physical distribution management? Describe various components of it.

 

Answer  :  This has been defined as the study and evaluation of the relative profitability or costs of different marketing operations in terms of customers marketing units, commodities, territories or services.
As you read earlier in the lesson physical distribution cost in the third largest component in the total cost of business operations. Hence there is good scope for cost reduction in this area as it has not received the attention due to it till recent years.
One feature of distribution costs distinguishing them from other functional costs is that they have to be looked upon as a unit. Indiscriminate cost reduction in any one of the individual cost elements, such as inventory maintenance, warehousing, transportation or clerical services, can have a disastrous effect on the efficiency of the system as a whole e.g., if we cut inventories it will save capital investment and the costs of supplying capital and it may save some expenses in storage, taxes and insurance. On the other hand a cut in inventory levels may seriously affect reliability of the delivery service to customers. As Mr. John F Magee puts it, it saves money but destroys competitive position.
Similarly a cut in transportation costs will result in lack of flexibility and responsiveness to market changes more inventories at more stock points will need more investment and will increase the risk of obsolescence.
Again refusal to allow any cost increase may be equal damaging. It may mean wiping out an opportunity for improving the efficiency of the distribution system as a whole. The use of high speed data processing and communications may increase the cost of distribution. But they will cut down the delays in feeding information back to production and control the lags in the movement of materials into the distribution system in response to customer demand. Thus they may actually cut total distribution costs.

Distribution Costs
The following is meant to be a tentative list of various costs of distribution. They are not exhaustive.
1. Costs of transportation by common carrier, contract carrier or firms own transport equipment.
2. Warehousing costs in public or private facilities
3. Order handling costs
4. Packing costs
5. Inventory costs of
a) Insurance
b) Taxes
c) Handling
d) Obsolescence
e) Capital invested

Ever since marketing managers began to express concern for the distribution function the total cost approach borrowed from logistics and operations research, many firms have achieved tremendous improvement in their performance and profitability.
Even before we can analyze the distribution costs by evolving proper criteria we face a major difficulty. Many concerns do not collect these costs under the separate heading of distribution costs. In actual practice these costs are lost in unlikely cost centres or manipulated to satisfy departmental or individual requirement. In other worth managements, as a matter of policy may not identify distribution costs. In a recent investigation into distribution cost in the U.K. the finding was that most firms contracted were unable to produce a composite breakdown of their distribution costs. In the final analysis the identified distribution costs varied from 3% to 42% of sales.
In some industries especially perishable goods and fashion goods industries distribution costs are critical and may represent the major trading cost.

Major Stumbling blocks is distribution cost analysis
1. Problems is the attempt to break down total distribution costs into specific components of cost.
2. Difficulties in apportioning these costs to different cost centres of cost units. The common bases adopted are product groups, market segments, geographic location, etc or a combination of these.
3. Problems in the measurement of actual cost associated with a particular distribution activity and in the estimation of future cost in the light of a distribution changing environment.
It is generally agreed that the functions of production or manufacturing have been terminated when a product has been placed in a saleable state and that the distribution function has begun.
Distribution costs can broadly classified and accounted for it terms of sales departments, territories, salesmen, lines of products, sales and production orders and customers, or a combination of these.

To provide adequate detail the accounting system provides the following records

1. Controlling accounts in the general Ledger to reflect the total cost of sales division and administrative division.
2. A subsidiary ledger supporting each of the divisional controlling accounts or recording the objects of selling and administrative expenses such as salaries, supplies, taxes, insurance, deprecation etc.
3. Proper procedure for allocating the items of distribution costs among territories products salesman or other desired breakdowns.
4. Budgets and standards for distribution costs.

The Objectives of the accounting system described above are as follows
1. Classification and accounting for distribution costs by channels of distribution, departments, territories, salesman, orders, lines of products and customers comparative statements being submitted to management periodically.
2. Preparation and user of standards for distribution functions to control costs by delegating responsibility, establishing measures of efficiency providing incentives to personnel and supplying predetermined costs as an aid in budget preparation and formulation of pricing policies.
3. Analysis of distribution costs as a guide to management in making current business decisions and setting future policies.

                                                          

 

Dear Students,

Get your assignments from Our ESTEEMED ORGANIZATION smumbaassignment.com 

Just email to kvsude@gmail.com  or  S M S  to +91 9995105420.

message Format – SMU MBA <Name> <E-MAIL ID> <SEM ? >  To +91 9995105420 , we will reach back you with in 24H

Or Directly call our Middle East Office +974 55702886 .

More Info, Kindly visit  smumbaassignment.com

Best Regards, Admin

smumbaassignment.com

 

 

 

Q.2 What are the various types of distribution channels?

 

Q.3 Describe the various types of retailers.

 

 

 

 

Q.4 What are logistical operations? What are the major components of logistical operations?

 

 

 

 

Q.5 Explain vertical, horizontal and Multi-channel marketing system in detail.

 

 

 

 

 

 

 

Q.6 Explain the various strategies of supply chain management

 

 

Dear Students,

Get your assignments from Our ESTEEMED ORGANIZATION smumbaassignment.com 

Just email to kvsude@gmail.com  or  S M S  to +91 9995105420.

message Format – SMU MBA <Name> <E-MAIL ID> <SEM ? >  To +91 9995105420 , we will reach back you with in 24H

Or Directly call our Middle East Office +974 55702886 .

More Info, Kindly visit  smumbaassignment.com

Best Regards, Admin

smumbaassignment.com

 

 

Summer 2012

Master of Business Administration – MBA Semester 3

MK0011 — Consumer Behaviour – 4 Credits

Book ID: B1221

Assignment Set1 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

 

1. Explain the VAL’s theory and describe each type of consumer.

Answer  :   VALS Theory & Concept

 

VALS: A science of using the demographics and psychology profiles to understand the consumers in a better and in a proper way. VALS was developed by Arnold Mitchell and his colleagues at Stanford Research Institute which is a world’s largest research institute in California City. It was developed in the year 1978 and there have been the use of Abraham Maslow’s philosophy as well the David Riesman — one of the Harvard sociologists. They have divided the buyer in different groups on the basis of the traits of personality which are values and the lifestyles. They have done the research on the basis of questionnaires in 4 demographic and 35 attitudinal questions. The VALS have been updated with more than new and innovative data’s and surveys of more than 85000 surveys per year. Thus VALS is known as:

 

V: VALUES

 

A: ATTITUDES

 

L: LIFE

 

S: STYLES

 

Mitchell have used the strategy of statistics, marketing research, attitudinal and demographic questions, that has become very much helpful for the consumers of America into nine types of lifestyle and that are as below with the sustained %age of the consumers.

 

1.       Survivors (4%)

 

2.       Sustainers (7%)

 

3.       Bloggers (35%)

 

4.       Emulators (9%)

 

5.       Achievers (22%)

 

6.       I-am-me (5%)

 

7.       Experiencers (7%)

 

8.       Societal Conscious (9%)

 

9.       Integrated (2%)

 

The major tendencies of the groups with higher resources are as follows:

 

1.       Innovators: These are the successful people who are always active in their activities in all their works. They are the people who have high self belief, high self confidence and high self esteem. Their purchases always use to reflect the tastes of cultivation. They are basically related with up-scale and niche oriented products and services. They have the great volume and highest amount of income, they have very good image of creativity and they have finer tastes in their life. They never depend on others and they follow the strategy of high character.

 

2.       Thinkers: They are very much mature and satisfied people who have financially strong resources and they are motivated from their ideals. They are very much responsible in their duties honestly and whole heartedly and they are very much professionalized in terms of education. They value their responsibilities, order, they spent their free times in home with their gamily and give them time as well they have all the information and ideas about the world and they are practical in terms of buying and they take decisions optimally.

 

3.       Achievers: They are the people who are very much goal-oriented and want to become successful in their fields of work. They are that type of consumers who have a high resource group and they also get motivated by their achievements. They focus on both their family as well their career that gets satisfaction from their jobs and families. They are bit conserved and reserved from their nature and they respect each individuals as well the authorities in their workplace. They believe in completion of their work and in satisfying with their needs as well as achievements and satisfaction.

 

4.       Experiencers: These people are basically very young, highly energetic from their nature and also from their activities. These people are very well organized and enthusiastic as well make the environment also energetic. They have high income and higher amount of resources where they get motivation from their self-expression, from their self-abilities and self-activities. They are coming in the age group of 25 — 35. They have lot of energy and they seek fun and excitement with high income on fashion, entertainment and socialization. They spend most of their money in friends, hang-outs, foods, music, movies and many more.

 

The major tendencies of the groups with lower resources are as follows:

 

5.       Believers: When we talk about believers, they are the people who have low resources who are very much conservative sort of nature. They have lot of superstitions and they believe in Gods and traditions as well as cultures to live their life. Their incomes are also modest. They have high belief on family, church, community or nation and they always think about all these.

 

6.       Makers: These people are always down to earth and never feel superior in terms of achievement, education, profession, qualification, relationship or any other because these types of people are very practical and they like to do their own work themselves. They favour mostly the American made goods or products which have practical as well as functional benefits and uses.

 

7.       Strivers: These people have low resources and they are very friendly and fun-loving entertaining people who always use to make the people laugh by some sort of jokes or funny talks. They also like to have style in their style and personality so they always appreciate stylish products and greater material wealth.

 

8.       Survivors: These people have very low incomes and they are very much old in age. They are most eldest of all the segments but the positive thing about them is they are brand royal and they look for change.

 

Thus VALS have been defined which has been divided on the basis of lifestyles and attitudes of the consumer.

 

 

Three types of consumer

 

 

Three different types of consumers exist in the market today. Each type of consumer has specific characteristics, tendencies and preferences.

 

 

 

When it comes to identity theft, credit card numbers and bank account information stolen through electronic means is becoming more popular than the traditional check fraud schemes. It seems that there is a new press release every day indicating a corporation has had customers’ financial information stolen. Check forgeries and alterations, however, are still a problem in the banking world and an issue that consumers should be aware of.

Especially in difficult economic times, the loss or theft and cashing of a single check can cause enormous financial difficulties for a family. Even if the money is eventually reaccredited back to the banking customers, the time period in which it takes to file a dispute can ensure that the consumers fall behind on other bills or monthly obligations. This is why homeowners facing foreclosure should be aware of the different types of check fraud, in case they become a victim.

 

The first type is when a thief forgers a consumer’s signature on a check and then cashes is. In these cases, it is the bank that will be forced to take the loss. The general theory is that, because the bank making the payment has the customer’s signature on file on a signature card, pointing out a forgery should not be difficult. Of course, in practice banks never scrutinize signatures.

 

A forged signature is considered ineffective and cannot bind the banking customer. Banks are allowed to withdraw funds from a consumer’s account only if the check is properly payable, and a check with a forged signature does not count as properly payable. And the bank is in the position of being able to examine the consumer’s signature card to be able to spot potential forgeries.

 

Thieves that forge endorsements of checks are also a problem in the banking industry. This may happen in cases where the check is lost or stolen after the customer has signed it. As with a forged signature, however, a check with a forged endorsement is not properly payable. If the bank debits the checking account, it should later be reaccredited for the amount of the check.

 

A final type of check fraud is when a check is altered after it has been written. The most frequent alternation, not surprisingly, is when the amount is changed. For example, $5.00 becomes $500, and “five dollars” is changed to “five hundred dollars” written on the check. In cases where the alternation is made fraudulently, the consumers may have no obligation at all. However, in other cases, the banking customer may be debited for the original intended amount of the check. Of course, this makes it worthwhile for wrongdoers to alter checks, in the hopes of getting away with the larger amount.

 

Forged signatures, forged endorsements, and alterations of checks are the three prominent types of check fraud that consumers should be aware of. If there is any suspicion that any of these actions have occurred, the first action should be to begin disputing the account debits with the bank. Many of these issues can be resolved by working with the bank, but there are also strict statutes of limitations in which to begin the process.

 

 

 

 

 

 

Q2. Discuss Freudian theory of personality. Give practical examples wherever possible.

Q3. Describe cognitive learning theory and cognitive response model.

 

 

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Q4. Describe diffusion process and adoption process.

 

Q5. Explain briefly about communication process and barriers to communication.

 

 

Q6. Discuss cross cultural influences & Explain cultural differences in Non-verbal communications.

 

Summer 2012

Master of Business Administration – MBA Semester 3

MK0011 — Consumer Behaviour – 4 Credits

Assignment Set- 2 (60 Marks)

Book ID: B1221

Note: Each question carries 10 Marks. Answer all the questions.

1. Explain characteristics of culture and classification of cultural values.

Answer  :  The characteristics of culture are shared; group products; symbolic; learned; patterned; integrated; adaptive; compulsory; cumulative; dynamic and diverse.

 

1. It is shared.

The culture is shared by the social interaction may take in many forms to transmit the beliefs, values and expectation of the human society. The exchange of social ideas may provide understanding and learning the human culture and tradition.

The culture works by social dynamism using language, communication technologies and commercial trade.

a) The use of language as a form of social communications such as group communication, informal communications, discussion and public speaking. The sharing of information is done through the transmittal of knowledge .The use of language or dialect may transmit information to the group of people that may later on learn and understand the culture, tradition, beliefs and expectations of a given society. The common human activities are the grapevine information, social occasions, and public debates.

b) The use of communication technologies through powerful media tools such as computers, televisions, DVD and cell phones. The modern technologies have gradually exposed universal culture that can easily transmit with mass media. The ethnic traditions and cultures are documentarily televised by cable programs such as national geographic or discovery channels. The modern fashion and fads of the western culture becomes the basis of global design in clothing for different occasions.

c) The commercial trade and global enterprises provide the better social exchange through the manufactured goods and services provide in the public and private enterprise. These technological change given the opportunity to sell products that are now fuse in the modern living of the human society.

The traditional concept of shared culture emphasizes the ethnic traditions, beliefs, norms and other social activities that may be transmitted by the elders and parents in the family and the tribe. However, the modern life has changed so many things in the sharing of the universal culture for all.

 

2. It is a group product.

The group product is the by-product of culture is shared by the social activities of the society. The group products provide important knowledge and experiences about the racial and ethnic activities.

It is the result of lifelong social experience made by those living in certain communities that governed by the family of elders. They formed tribe with their own cultures and traditions that have been dependent in hunting, fishing, and agriculture. The culture and tradition are passed on to the succeeding generation by educating the children from all the social life activities of the tribe.

Generally, the group product usually done by cultural diffusion, innovation and amalgamation of cultures.

a) The group product is made through the social interaction among the members of the group to form a unique life in a given geographical location. The social life has always imbibed the unique contribution of individual life. This is adjusted by the geographical conditions to ensure a better life.

b) The group product is multi-dimension activities that provide the understanding and learning the elements of culture such as values, beliefs, norms, language, folkways, mores, laws, material culture and technology. The complexities of culture have been integrated to form part the universal human society

c) The group products primarily use language and education of the offspring to ensure the survival of the culture and tradition of the tribe. The transmission of culture is done by giving informal and formal education.

 

3. It is learned.

The cultural transmission or enculturation is the best way to describe culture is learned. The people acquire information about the culture by many ways. This is done by learning the language and other form of educational information of the society.

a) The members of the group learn to understand and apply certain ideals, values, expectations, beliefs and traditions to the society.

b) The younger generations readily accept the norms of the society as a part of their education to sustain the societal system within their family or tribe.

c) The culture is also learned by the language, literature, arts, music and local history that are passed across generation.

Usually, it is through formal and informal education that the culture is transmitted across generation. The parents provide the early education of their children from the way they live in the family and society. The social influence taken from their friends and relatives including their actual experiences provides the actual learning on a given societal culture. Modern society learns the culture by the formal education from varied levels such as the basic education and tertiary education. However, the advent of modern technology the culture is easily learned through mass media and internet.

 

4. It is Symbolic.

The communication process uses symbols to identify the given actions, attitudes and behaviours of the people.

a) The use of language has varied types of symbols depending on its natural environment, exposure and education to groups or tribes, the social experience and influence.

b) The social experiences as a whole provides specific communicative symbols along arts, music, literature, history and other forms of societal actions.

c) The abstract knowledge is reinforce in the way they understand and learn the feelings, ideas and behaviours of certain group of people in the society.

 

5. It is patterned and integrated

The culture is patterned by specific dimension of social life such as the economic and political activities. These are the norms of conformity for the human beings to follow in order to meet the psychological and social needs. The social activities

a)The economic activities are patterned by the innovation and inventions of cultural groups that need to be integrated by the social life of the members of the society.

b) There are activities that we always do such as going to toilet, washing the hands, cleaning the house, driving the car, going to bedroom and etc. We tend to follow certain habits that are patterned by specific culture of a given society. Remember that the American way of life maybe totally different to the Africans and Asian way of life.

c) There are cultural values that are patterned to be followed to live on specific group of people with unique cultures that individual must also follow to integrated similar social life.

 

6. Culture is adaptive

The cultural adaptation is the evolutionary process that modifies the social life of the people in the given natural environment.

1. The social evolutionary process is created by the condition of the natural environment that human being constantly adapting on any changes.

2. The biological modifications and adjustments are always flexible to adapt even in the harsh conditions of the environment.

3. The human adaptations uses innovative way to create new cultural dimension on its way of life from the cultural transformation of clothing, food shelter, music, arts including the beliefs, traditions and history.

 

7. Culture is compulsory.

The human beings always consider the harmonious relationship with any of group cultures being grown for a period of time.

1. The group members of the conformed with the ways of living within the bounds of beliefs, expectation, and norms.

2. The behavioural conformity is expected to follow any violations within the norms have specific sanctions as to the provisions of law or even a given set of norms in the social context.

3. The social interaction of man follows the collective activities with common goals including specific norms, traditions, and beliefs which is followed as a blue print of its distinct cultural existence in the society.

 

8. Culture is cumulative.

 

The cumulative culture may be passed from one generation to the next generation. Those pertinent knowledge and culture are gradually built as it is useful to the society. However, those information that no longer useful to the society may gradually phased out.

 

9. Culture is dynamic.

There is continuous change of culture as new ways of life evolved by the changing conditions of the societal life. There are cultural practices that no longer useful today.

 

10. Culture is diverse.

The culture is different from each other as we must consider the social experiences, traditions, norms, mores and other cultural ways in the community.

 

 

 

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Q2. Explain the types of Reference group and its influences.

 

Q3. Discuss the types of Decision making.

Q4. Explain first two process of consumer decision Process.

 

 

Q5. Explain the factors influencing organisational buyer behaviour.

Q6. What is cognitive dissonance? Briefly explain Leon Fastener’s Theory.

 

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Summer 2012

Master of Business Administration – MBA Semester 3

MK0011 — Consumer Behaviour – 4 Credits

Book ID: B1221

Assignment Set1 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

 

1. Explain the VAL’s theory and describe each type of consumer.

Answer  :   VALS Theory & Concept

 

VALS: A science of using the demographics and psychology profiles to understand the consumers in a better and in a proper way. VALS was developed by Arnold Mitchell and his colleagues at Stanford Research Institute which is a world’s largest research institute in California City. It was developed in the year 1978 and there have been the use of Abraham Maslow’s philosophy as well the David Riesman — one of the Harvard sociologists. They have divided the buyer in different groups on the basis of the traits of personality which are values and the lifestyles. They have done the research on the basis of questionnaires in 4 demographic and 35 attitudinal questions. The VALS have been updated with more than new and innovative data’s and surveys of more than 85000 surveys per year. Thus VALS is known as:

 

V: VALUES

 

A: ATTITUDES

 

L: LIFE

 

S: STYLES

 

Mitchell have used the strategy of statistics, marketing research, attitudinal and demographic questions, that has become very much helpful for the consumers of America into nine types of lifestyle and that are as below with the sustained %age of the consumers.

 

1.       Survivors (4%)

 

2.       Sustainers (7%)

 

3.       Bloggers (35%)

 

4.       Emulators (9%)

 

5.       Achievers (22%)

 

6.       I-am-me (5%)

 

7.       Experiencers (7%)

 

8.       Societal Conscious (9%)

 

9.       Integrated (2%)

 

The major tendencies of the groups with higher resources are as follows:

 

1.       Innovators: These are the successful people who are always active in their activities in all their works. They are the people who have high self belief, high self confidence and high self esteem. Their purchases always use to reflect the tastes of cultivation. They are basically related with up-scale and niche oriented products and services. They have the great volume and highest amount of income, they have very good image of creativity and they have finer tastes in their life. They never depend on others and they follow the strategy of high character.

 

2.       Thinkers: They are very much mature and satisfied people who have financially strong resources and they are motivated from their ideals. They are very much responsible in their duties honestly and whole heartedly and they are very much professionalized in terms of education. They value their responsibilities, order, they spent their free times in home with their gamily and give them time as well they have all the information and ideas about the world and they are practical in terms of buying and they take decisions optimally.

 

3.       Achievers: They are the people who are very much goal-oriented and want to become successful in their fields of work. They are that type of consumers who have a high resource group and they also get motivated by their achievements. They focus on both their family as well their career that gets satisfaction from their jobs and families. They are bit conserved and reserved from their nature and they respect each individuals as well the authorities in their workplace. They believe in completion of their work and in satisfying with their needs as well as achievements and satisfaction.

 

4.       Experiencers: These people are basically very young, highly energetic from their nature and also from their activities. These people are very well organized and enthusiastic as well make the environment also energetic. They have high income and higher amount of resources where they get motivation from their self-expression, from their self-abilities and self-activities. They are coming in the age group of 25 — 35. They have lot of energy and they seek fun and excitement with high income on fashion, entertainment and socialization. They spend most of their money in friends, hang-outs, foods, music, movies and many more.

 

The major tendencies of the groups with lower resources are as follows:

 

5.       Believers: When we talk about believers, they are the people who have low resources who are very much conservative sort of nature. They have lot of superstitions and they believe in Gods and traditions as well as cultures to live their life. Their incomes are also modest. They have high belief on family, church, community or nation and they always think about all these.

 

6.       Makers: These people are always down to earth and never feel superior in terms of achievement, education, profession, qualification, relationship or any other because these types of people are very practical and they like to do their own work themselves. They favour mostly the American made goods or products which have practical as well as functional benefits and uses.

 

7.       Strivers: These people have low resources and they are very friendly and fun-loving entertaining people who always use to make the people laugh by some sort of jokes or funny talks. They also like to have style in their style and personality so they always appreciate stylish products and greater material wealth.

 

8.       Survivors: These people have very low incomes and they are very much old in age. They are most eldest of all the segments but the positive thing about them is they are brand royal and they look for change.

 

Thus VALS have been defined which has been divided on the basis of lifestyles and attitudes of the consumer.

 

 

Three types of consumer

 

 

Three different types of consumers exist in the market today. Each type of consumer has specific characteristics, tendencies and preferences.

 

 

 

When it comes to identity theft, credit card numbers and bank account information stolen through electronic means is becoming more popular than the traditional check fraud schemes. It seems that there is a new press release every day indicating a corporation has had customers’ financial information stolen. Check forgeries and alterations, however, are still a problem in the banking world and an issue that consumers should be aware of.

Especially in difficult economic times, the loss or theft and cashing of a single check can cause enormous financial difficulties for a family. Even if the money is eventually reaccredited back to the banking customers, the time period in which it takes to file a dispute can ensure that the consumers fall behind on other bills or monthly obligations. This is why homeowners facing foreclosure should be aware of the different types of check fraud, in case they become a victim.

 

The first type is when a thief forgers a consumer’s signature on a check and then cashes is. In these cases, it is the bank that will be forced to take the loss. The general theory is that, because the bank making the payment has the customer’s signature on file on a signature card, pointing out a forgery should not be difficult. Of course, in practice banks never scrutinize signatures.

 

A forged signature is considered ineffective and cannot bind the banking customer. Banks are allowed to withdraw funds from a consumer’s account only if the check is properly payable, and a check with a forged signature does not count as properly payable. And the bank is in the position of being able to examine the consumer’s signature card to be able to spot potential forgeries.

 

Thieves that forge endorsements of checks are also a problem in the banking industry. This may happen in cases where the check is lost or stolen after the customer has signed it. As with a forged signature, however, a check with a forged endorsement is not properly payable. If the bank debits the checking account, it should later be reaccredited for the amount of the check.

 

A final type of check fraud is when a check is altered after it has been written. The most frequent alternation, not surprisingly, is when the amount is changed. For example, $5.00 becomes $500, and “five dollars” is changed to “five hundred dollars” written on the check. In cases where the alternation is made fraudulently, the consumers may have no obligation at all. However, in other cases, the banking customer may be debited for the original intended amount of the check. Of course, this makes it worthwhile for wrongdoers to alter checks, in the hopes of getting away with the larger amount.

 

Forged signatures, forged endorsements, and alterations of checks are the three prominent types of check fraud that consumers should be aware of. If there is any suspicion that any of these actions have occurred, the first action should be to begin disputing the account debits with the bank. Many of these issues can be resolved by working with the bank, but there are also strict statutes of limitations in which to begin the process.

 

 

 

 

 

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Q2. Discuss Freudian theory of personality. Give practical examples wherever possible.

 

Q3. Describe cognitive learning theory and cognitive response model.

 

Q4. Describe diffusion process and adoption process.

 

 

Q5. Explain briefly about communication process and barriers to communication.

Q6. Discuss cross cultural influences & Explain cultural differences in Non-verbal communications.

Answer  :  Introduction

 

 

Summer 2012

Master of Business Administration – MBA Semester 3

MK0011 — Consumer Behaviour – 4 Credits

Assignment Set- 2 (60 Marks)

Book ID: B1221

Note: Each question carries 10 Marks. Answer all the questions.

1. Explain characteristics of culture and classification of cultural values.

Answer  :  The characteristics of culture are shared; group products; symbolic; learned; patterned; integrated; adaptive; compulsory; cumulative; dynamic and diverse.

 

1. It is shared.

The culture is shared by the social interaction may take in many forms to transmit the beliefs, values and expectation of the human society. The exchange of social ideas may provide understanding and learning the human culture and tradition.

The culture works by social dynamism using language, communication technologies and commercial trade.

a) The use of language as a form of social communications such as group communication, informal communications, discussion and public speaking. The sharing of information is done through the transmittal of knowledge .The use of language or dialect may transmit information to the group of people that may later on learn and understand the culture, tradition, beliefs and expectations of a given society. The common human activities are the grapevine information, social occasions, and public debates.

b) The use of communication technologies through powerful media tools such as computers, televisions, DVD and cell phones. The modern technologies have gradually exposed universal culture that can easily transmit with mass media. The ethnic traditions and cultures are documentarily televised by cable programs such as national geographic or discovery channels. The modern fashion and fads of the western culture becomes the basis of global design in clothing for different occasions.

c) The commercial trade and global enterprises provide the better social exchange through the manufactured goods and services provide in the public and private enterprise. These technological change given the opportunity to sell products that are now fuse in the modern living of the human society.

The traditional concept of shared culture emphasizes the ethnic traditions, beliefs, norms and other social activities that may be transmitted by the elders and parents in the family and the tribe. However, the modern life has changed so many things in the sharing of the universal culture for all.

 

2. It is a group product.

The group product is the by-product of culture is shared by the social activities of the society. The group products provide important knowledge and experiences about the racial and ethnic activities.

It is the result of lifelong social experience made by those living in certain communities that governed by the family of elders. They formed tribe with their own cultures and traditions that have been dependent in hunting, fishing, and agriculture. The culture and tradition are passed on to the succeeding generation by educating the children from all the social life activities of the tribe.

Generally, the group product usually done by cultural diffusion, innovation and amalgamation of cultures.

a) The group product is made through the social interaction among the members of the group to form a unique life in a given geographical location. The social life has always imbibed the unique contribution of individual life. This is adjusted by the geographical conditions to ensure a better life.

b) The group product is multi-dimension activities that provide the understanding and learning the elements of culture such as values, beliefs, norms, language, folkways, mores, laws, material culture and technology. The complexities of culture have been integrated to form part the universal human society

c) The group products primarily use language and education of the offspring to ensure the survival of the culture and tradition of the tribe. The transmission of culture is done by giving informal and formal education.

 

3. It is learned.

The cultural transmission or enculturation is the best way to describe culture is learned. The people acquire information about the culture by many ways. This is done by learning the language and other form of educational information of the society.

a) The members of the group learn to understand and apply certain ideals, values, expectations, beliefs and traditions to the society.

b) The younger generations readily accept the norms of the society as a part of their education to sustain the societal system within their family or tribe.

c) The culture is also learned by the language, literature, arts, music and local history that are passed across generation.

Usually, it is through formal and informal education that the culture is transmitted across generation. The parents provide the early education of their children from the way they live in the family and society. The social influence taken from their friends and relatives including their actual experiences provides the actual learning on a given societal culture. Modern society learns the culture by the formal education from varied levels such as the basic education and tertiary education. However, the advent of modern technology the culture is easily learned through mass media and internet.

 

4. It is Symbolic.

The communication process uses symbols to identify the given actions, attitudes and behaviours of the people.

a) The use of language has varied types of symbols depending on its natural environment, exposure and education to groups or tribes, the social experience and influence.

b) The social experiences as a whole provides specific communicative symbols along arts, music, literature, history and other forms of societal actions.

c) The abstract knowledge is reinforce in the way they understand and learn the feelings, ideas and behaviours of certain group of people in the society.

 

5. It is patterned and integrated

The culture is patterned by specific dimension of social life such as the economic and political activities. These are the norms of conformity for the human beings to follow in order to meet the psychological and social needs. The social activities

a)The economic activities are patterned by the innovation and inventions of cultural groups that need to be integrated by the social life of the members of the society.

b) There are activities that we always do such as going to toilet, washing the hands, cleaning the house, driving the car, going to bedroom and etc. We tend to follow certain habits that are patterned by specific culture of a given society. Remember that the American way of life maybe totally different to the Africans and Asian way of life.

c) There are cultural values that are patterned to be followed to live on specific group of people with unique cultures that individual must also follow to integrated similar social life.

 

6. Culture is adaptive

The cultural adaptation is the evolutionary process that modifies the social life of the people in the given natural environment.

1. The social evolutionary process is created by the condition of the natural environment that human being constantly adapting on any changes.

2. The biological modifications and adjustments are always flexible to adapt even in the harsh conditions of the environment.

3. The human adaptations uses innovative way to create new cultural dimension on its way of life from the cultural transformation of clothing, food shelter, music, arts including the beliefs, traditions and history.

 

7. Culture is compulsory.

The human beings always consider the harmonious relationship with any of group cultures being grown for a period of time.

1. The group members of the conformed with the ways of living within the bounds of beliefs, expectation, and norms.

2. The behavioural conformity is expected to follow any violations within the norms have specific sanctions as to the provisions of law or even a given set of norms in the social context.

3. The social interaction of man follows the collective activities with common goals including specific norms, traditions, and beliefs which is followed as a blue print of its distinct cultural existence in the society.

 

8. Culture is cumulative.

 

The cumulative culture may be passed from one generation to the next generation. Those pertinent knowledge and culture are gradually built as it is useful to the society. However, those information that no longer useful to the society may gradually phased out.

 

9. Culture is dynamic.

There is continuous change of culture as new ways of life evolved by the changing conditions of the societal life. There are cultural practices that no longer useful today.

 

10. Culture is diverse.

The culture is different from each other as we must consider the social experiences, traditions, norms, mores and other cultural ways in the community.

 

 

 

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Q2. Explain the types of Reference group and its influences.

 

Q3. Discuss the types of Decision making.

 

Q4. Explain first two process of consumer decision Process.

 

Q5. Explain the factors influencing organisational buyer behaviour.

 

Q6. What is cognitive dissonance? Briefly explain Leon Fastener’s Theory.

 

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Summer 2012

Master of Business Administration – MBA Semester 3

MK0012— Retail Marketing – 4 Credits

Book ID: B1222

Assignment Set- 1 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

Q.1 How has the growth of retail sector helped the Indian economy?

Answer  :  Contribution of Retail:

What, How and For Whom The presence of retail sector in India has been in limelight for the last few years. Its significance has been undoubted. Policymakers are quite optimistic that the evolution and steady maturation of organized retailing will take the economy to new highs. Besides, it will also help strengthen the linkages between the different sectors so as to break the vicious circle of poverty and ensure a bright future for the next generation. The benefit of retailing to general public includes growing awareness and brand consciousness.

 

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Indian Retail: Past Vs Present

 

It is widely accepted that the retail industry has undergone a drastic change in last five years and there is yet more to come. Let us compare the image of Indian retailing in 2004-05 to that of its status in 2007-08 in the following table:

 

Magnification of the Indian Retail Industry

 

Yardstick

Situation in 04-05

Situation in 07-08

Value of retail sales

Rs. 10,20,000 crore

Rs 12,00,000 crore

Annual growth rate

5%

5.7%

Value of organized market

Rs 35,000 crore

Rs 55,000 crore

Share of organized market in the sector

3.4%

4.6%

Forecasts (after 5 years) about size of organized retail market

Over Rs. 1,00,000 crore

Rs. 2,00,000 crore

Forecasts about growth rate of organized retail market

Around 30%

Around 40%

 

The above table clearly shows that the retail market as well as the mindset required for it has experienced a thorough revisal in the last three years. This is just the beginning and Indians are sanguine that the sector will see rosy days in the future. This confidence has helped India acquire the No.1 position among 30 most attractive retailing destinations in the world according to the Global Retail Development Index of 2005 (by AT Kearney, India). Among emerging markets, India holds the second position after China in the list of most favoured retail destinations.

 

The retail industry employs a huge share of the total workforce in India. It is the second largest employer after India. Presently 7 percent of the total labour force is employed in the retail sector. According to available data it is also the largest employer in the services sector and maximum growth in the non-agricultural sector has been witnessed by retail trade. According to market analysts 300 new malls, 1,500 supermarkets and 325 departmental stores are going to come up in India in the next few days. The shopping revolution that has led to this retail boom is going to continue and this is a good news for the government as well as those who wish to work in the organized sector.

 

Contribution of FDI in Retailing

 

Permitting Foreign Direct Investment in the retailing sector can have immense benefits. It can generate huge employment for the semi-skilled as well as illiterate population which otherwise can’t be employed in the already confined rural and organized sector. The retail sector is highly dependent on the rural sector. Thus it can facilitate the improvement of the standard of living of farmers by purchasing commodities at a reasonable cost. It also stems out an indirect employment generation channel by training and employing people in the transportation and distribution sectors such as drivers, mechanics etc. It is also evident that real estate is a genuine challenge for organized retailing. Traditional retailers can use this situation in their favour by taking franchisees of the mega players of this industry. On the other hand, the consumer gains from the wide variety of choices and a more diversified basket of prices available under one roof. Secondly the indirect benefits like better roads, online marketing, expansion of telecom sector etc. will give a ‘big push’ to other sectors including the rural one itself. Last but not the least the huge tax revenue generated from these retail biggies and collected in government coffers will gradually wipe out the ugly looking fiscal and revenue deficits. Besides the transaction in foreign currencies by these MNCs will create a balance in exchange rate and will bring in stable funds in the economy as opposed to FII’s hot money. This will in turn act as a boost to the developing (or ‘transforming’, as suggested by the USAID) economy of India.

 

The phobias relating to FDI in the retail sector are unfounded as neither the retailing sector in India is an infant industry, nor it can outweigh the paramount local tastes and preferences.

 

Let’s pray that the retail sector like the IT and manufacturing sector brings happiness in the eyes of the people and help remove the regional and class-based disparities.

 

 

 

Q.2 Discu

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ss different types of store based retailer. Give examples of each.

Q.3 Explain the GAP Model of service quality.

 

 

 

Q.4 Define Retail store image & describe factors influencing it.

 

 

Q.5 What is positioning? Discuss various positioning approaches.

 

 

Q.6 Explain the various elements of communication mix included in retail chain.

 

Summer 2012

Master of Business Administration – MBA Semester 3

MK0012— Retail Marketing – 4 Credits

Book ID: B1222

Assignment Set- 2 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

Q.1 How does advertising help in retail promotions? Discuss the various appeals being used.

 

 

Q.2 What is the significance of proper merchandise presentation? What is cross-merchandising?

Q.3 What is psychological pricing? Determine its effectiveness.

 

Q.4 Differentiate relationship marketing and transaction marketing.

 

Q.5 Explain the concept of social marketing. Discuss the P’S under social marketing.

 

Q.6 Discuss the advantages and disadvantages of E-Tailing.

 

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Summer 2012

Master of Business Administration – MBA Semester 3

MK0012— Retail Marketing – 4 Credits

Book ID: B1222

Assignment Set- 1 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

Q.1 How has the growth of retail sector helped the Indian economy?

Answer  :  Contribution of Retail:

What, How and For Whom The presence of retail sector in India has been in limelight for the last few years. Its significance has been undoubted. Policymakers are quite optimistic that the evolution and steady maturation of organized retailing will take the economy to new highs. Besides, it will also help strengthen the linkages between the different sectors so as to break the vicious circle of poverty and ensure a bright future for the next generation. The benefit of retailing to general public includes growing awareness and brand consciousness.

 

 

 

Indian Retail: Past Vs Present

 

It is widely accepted that the retail industry has undergone a drastic change in last five years and there is yet more to come. Let us compare the image of Indian retailing in 2004-05 to that of its status in 2007-08 in the following table:

 

Magnification of the Indian Retail Industry

 

Yardstick

Situation in 04-05

Situation in 07-08

Value of retail sales

Rs. 10,20,000 crore

Rs 12,00,000 crore

Annual growth rate

5%

5.7%

Value of organized market

Rs 35,000 crore

Rs 55,000 crore

Share of organized market in the sector

3.4%

4.6%

Forecasts (after 5 years) about size of organized retail market

Over Rs. 1,00,000 crore

Rs. 2,00,000 crore

Forecasts about growth rate of organized retail market

Around 30%

Around 40%

 

The above table clearly shows that the retail market as well as the mindset required for it has experienced a thorough revisal in the last three years. This is just the beginning and Indians are sanguine that the sector will see rosy days in the future. This confidence has helped India acquire the No.1 position among 30 most attractive retailing destinations in the world according to the Global Retail Development Index of 2005 (by AT Kearney, India). Among emerging markets, India holds the second position after China in the list of most favoured retail destinations.

 

The retail industry employs a huge share of the total workforce in India. It is the second largest employer after India. Presently 7 percent of the total labour force is employed in the retail sector. According to available data it is also the largest employer in the services sector and maximum growth in the non-agricultural sector has been witnessed by retail trade. According to market analysts 300 new malls, 1,500 supermarkets and 325 departmental stores are going to come up in India in the next few days. The shopping revolution that has led to this retail boom is going to continue and this is a good news for the government as well as those who wish to work in the organized sector.

 

Contribution of FDI in Retailing

 

Permitting Foreign Direct Investment in the retailing sector can have immense benefits. It can generate huge employment for the semi-skilled as well as illiterate population which otherwise can’t be employed in the already confined rural and organized sector. The retail sector is highly dependent on the rural sector. Thus it can facilitate the improvement of the standard of living of farmers by purchasing commodities at a reasonable cost. It also stems out an indirect employment generation channel by training and employing people in the transportation and distribution sectors such as drivers, mechanics etc. It is also evident that real estate is a genuine challenge for organized retailing. Traditional retailers can use this situation in their favour by taking franchisees of the mega players of this industry. On the other hand, the consumer gains from the wide variety of choices and a more diversified basket of prices available under one roof. Secondly the indirect benefits like better roads, online marketing, expansion of telecom sector etc. will give a ‘big push’ to other sectors including the rural one itself. Last but not the least the huge tax revenue generated from these retail biggies and collected in government coffers will gradually wipe out the ugly looking fiscal and revenue deficits. Besides the transaction in foreign currencies by these MNCs will create a balance in exchange rate and will bring in stable funds in the economy as opposed to FII’s hot money. This will in turn act as a boost to the developing (or ‘transforming’, as suggested by the USAID) economy of India.

 

The phobias relating to FDI in the retail sector are unfounded as neither the retailing sector in India is an infant industry, nor it can outweigh the paramount local tastes and preferences.

 

Let’s pray that the retail sector like the IT and manufacturing sector brings happiness in the eyes of the people and help remove the regional and class-based disparities.

 

 

 

Q.2 Discuss different types of store based retailer. Give examples of each.

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Q.3 Explain the GAP Model of service quality.

Q.4 Define Retail store image & describe factors influencing it.

 

Q.5 What is positioning? Discuss various positioning approaches.

Q.6 Explain the various elements of communication mix included in retail chain.

 

Summer 2012

Master of Business Administration – MBA Semester 3

MK0012— Retail Marketing – 4 Credits

Book ID: B1222

Assignment Set- 2 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

Q.1 How does advertising help in retail promotions? Discuss the various appeals being used.

 

Answer :  Promoting a brand is more important than opening a store. It is essential to create brand awareness for the customers to know about the brand’s existence. The retailer must strive hard to communicate the USPs (Unique selling Proposition) of the brand to influence the buying behaviour of the customers. In simpler words, advertisements help the end-users to know to which brand a particular product belongs.

 

Advertisements play a crucial role in promoting a brand and creating its awareness amongst the masses.

 

They help in creating an image of a particular product or brand in the minds of the potential customers. Such a mechanism is also called Brand Positioning.

 

What is Advertising ?

 

Advertising is a medium through which an individual or organization highlights the USPs and benefits of a product or service to influence the buying behaviour of the individuals.

 

It helps to create a positive image of a particular brand in the minds of the customers and prompts them to buy the same.

Role of Advertising in Retail

The retailer through various ways of advertising strives hard to promote his brand amongst the masses for them to visit the store more often.

Advertisements attract the customers into the store. They act as a catalyst in bringing the customers to the stores.

The advertisement must effectively communicate the right message and click on the customers. It should be a visual treat and appeal the end-users.

 

Advertisements have taglines to create awareness of a product or service in the most effective way.

 

  • The tagline has to be crisp and impressive to create the desired impact.
  • The tagline should not be lengthy else the effect gets nullified.
  • It has to be catchy.
  • It should be simple to memorize.
  • The moment an individual hears “Just Do it”, he knows he has to visit a “Nike Store”. That’s the importance of a tagline.

 

Modes of Advertising

Nothing works better than promoting a brand through signboards, billboards, hoardings and banners intelligently placed at strategic locations like railway stations, crowded areas, heavy traffic crossings, bus stands, near cinema halls, residential areas and so on. Such advertising is also called as out of home advertising.

  • Out of home advertising is a way to influence the individuals when they are out of their homes. The hoarding must be installed at a height visible to all even from a distance.

 

  • Make sure it catches the attention of the passing individuals and influences them to visit the store.

 

  • Keep it simple and make sure it doesn’t confuse the customers; instead it should convey the information in its desired form.

 

  • Print media is also one of the most effective ways to promote a brand. Newspapers, magazines, catalogues, journals make the brand popular amongst the individuals. Retailers can buy a small space in any of the leading newspapers or magazines; give their ads for the individuals to read and get influenced.
  • Television also helps the brand reach a wider audience. Now a day’s retailers also use celebrities to endorse their products for that extra zing. Celebrities are shown using the particular brand and thus making it a hit amongst the masses.
  • Sachem Tendulkar – the famous Indian cricketer endorses Castrol India, MRF tyres, Adidas, Boost etc.A child gets influenced to drink Boost because his favourite cricketer drinks the same.

 

  • Radio Advertisements also help in creating brand awareness.
  • Social networking sites have also emerged as one of the easiest and economical ways to promote a product or brand.

 

Two approaches may be used to increase both customer traffic in your store and the sale of specific items or merchandise lines. These approaches, best used in conjunction with each other, are:

 

  • Retail advertising – which addresses those potential customers who are not within the store

 

  • In-store promotions – which can attract the attention of customers within the store or via window displays

 

  • Retail Advertising – Retail Promotion

 

Although the primary purpose of this section is to discuss merchandise management, advertising is so important to the concept that its inclusion, though brief, is necessary.

 

There are two major types of advertising:

 

Advertising to acquaint potential buyers with the special features of a product. With many industries, advertising of this type is done by the manufacturer of the product. Quite often, however, the retailer must do some of this advertising. When this occurs, it is often necessary to work with an advertising agency so they may help you write the copy (wording) such that the advertising will bring the best results. Such advertising concentrates almost solely on the single featured product.

 

Advertising the availability and price of nationally known merchandise. Much retail advertising is merely directed at letting potential customers know that the product is available and informing the customer of special prices or promotions which may encourage her/him to buy, at your store. This is perhaps best done through ‘Omnibus’ ads which feature many products, their prices, and brief slogans about their benefits. Consumers very often “shop” such ads and will come into your store to buy one or two of the items listed. While there, they buy other things on impulse.

 

Whatever your message may be, there are many ways to advertise – depending on how much information you wish to impart to prospective consumers, what kind of information (audio and/or visual), and how many consumers you wish to reach.

 

Retailers who cater to local clientele may use advertising methods such as:

 

  • In-house flyers indicating products and bargains

 

  • Signs both internal and external to the store

 

  • Informative in-house displays of merchandise

 

  • Direct mail advertising

 

  • Local newspapers

 

  • Distribution of flyers by hand or using the local newspaper deliveries (some papers have such arrangements)

 

  • Those retailers who wish to launch a large scale campaign may, of course, resort to advertising via radio, television, or widely circulated newspapers.

 

It is very important to remember that for any kind of advertising, single ads bring very sparse results. In order to make an advertising campaign successful, it is usually necessary to advertise repeatedly (five or six times during a one to two week period) to acquaint consumers with your service or product and, most important, with your store. It is also necessary to maintain a regular program of advertising throughout the year in order to continue bringing customers into the store.

 

Continual experimentation is necessary to determine which approaches are best. Although proper advertising may involve an initially high expense, if it succeeds both in drawing more clientele into your store and in increasing sales in both advertised and unadvertised products, the initial investment may more than pay for itself.

 

Once advertising has brought the consumer into your store, promotion and sales efforts must transfer the customer’s attention and interest into desire and action to buy.

 

  • In-Store Promotion

 

Promoting merchandise may often be achieved by special arrangements with a manufacturer or a wholesaler. Often new merchandise will be offered at low introductory prices and the manufacturer or wholesaler will provide the retailer with special informative displays of the product as well as offer special rewards to the consumer.

 

Many times a manufacturer will not offer displays but you will want to promote certain merchandise nevertheless. Basic ways through which you may create your own in-store promotions are:

 

  • window displays

 

  • special in-store displays

 

  • signs and posters

 

  • personal selling efforts

 

  • Retail Displays

 

  • Both in-house displays of merchandise and advertising displays should be:

 

  • attention getting in coloration and layout

 

  • informative in regard to the product

 

  • either a direct or subtle sales pitch to convince the customer that he or she needs the product

 

  • informative of price, especially if it is a ‘special price’

 

  • Both display advertising and in-house displays often do well to feature a number of related products, some of which may or may not be on sale.

 

Past studies in advertising have shown that a person’s eye is generally attracted to the center of a display, then off to the right of center and lastly reaches the edge of the display. It is therefore good practice to place a featured item, which may be on sale, at the center of the display and another product for which you most wish to generate sales, to the immediate right of the featured item. Other related products may be placed outward from around the center of the display.

 

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When creating a display, it is important to tie-in merchandise lines with one another wherever possible. In this way, customers who are in the market for a specific product are also exposed to many related products and accessories which they will often buy. Such tie-in displays also create a more organized appearance of your store and will make products easier to find. For example, a person looking for toothpaste might be more likely to buy a toothbrush, dental floss, or mouthwash if those products are in close proximity to the toothpaste.

 

Tie-in displays also help to generate impulse buying. Quite often an advertised or ‘sale’ product will draw people into the store who will buy not only the advertised product but will also buy, on impulse, other unadvertised merchandise. Sales are often helpful to impulse buying since, when people feel they are getting a good bargain, they are often likely to reciprocate by purchasing other merchandise from you with money saved from the sale.

 

Sales Effort

 

All promotions and attempts to interest customers in new lines, new products, or in special sales, will work better if they are supported with sales effort. For example, just before a product is rung up at the cash register, it is always a good idea to ask a customer whether he or she knows of a special sale, knows of a special product you are promoting, or could use something that goes well with the things the customer has already purchased.

 

If such reminders are given in a friendly way without being persistent, many customers will make additional inquiries and often additional purchases.

 

ON-THE-JOB ACTIVITY

 

For your next in-store promotion, you might try using a tie-in display, with the featured item in the center of the display, surrounded by related products or accessories.

 

If possible, discuss your ideas with a person knowledgeable in advertising; pursue any additional ideas which may arise from such a discussion.

 

 

 

Q.2 What is the significance of proper merchandise presentation? What is cross-merchandising?

 

Q.3 What is psychological pricing? Determine its effectiveness.

 

Q.4 Differentiate relationship marketing and transaction marketing.

Q.5 Explain the concept of social marketing. Discuss the P’S under social marketing.

Q.6 Discuss the advantages and disadvantages of E-Tailing.

 

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Summer 2012

Master of Business Administration – MBA Semester 3

MK0013— Marketing Research – 4 Credits

Assignment Set- 1 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

Q.1 Distinguish between product research and new product research. Explain with examples.

Answer   : New Product Research

 

Successful new products are essential to a company’s growth and survival. We believe new products to be one of the most important applications of marketing research, but one of the most difficult to execute in practice. New products can be concept-driven or product-driven. The implicit model that underlies the following paragraphs is concept-driven (i.e., concept followed by product), but keep in mind that you can also start with a product and work “backward” to build a concept and positioning.

 

New product development must have focal points to have any chance of success. Focal points include definition of the target market, determination of the product category, and/or definition of the problem to solve or opportunity to exploit. These focal points are largely managerial judgments. Once some of the basic focal points are identified, then Decision Analyst can help make the effort successful.

 

Qualitative Explorations

 

Once the target audience is identified (even if not totally precise), and some notion of the product category (or human need) is established, then qualitative research is the first step. The purpose is to develop in-depth understanding of the target consumer–their motivations, perceptions, fears, and preferences. Perceptions of competitive products can be explored. Unmet needs can be identified. New product ideas can be sought. The qualitative exploration serves to identify new product possibilities as well as refine the target-market definition for those possibilities. Qualitative research is also useful in determining the starting points for ideation.

 

Innovation Services

 

Building on the foundation of understanding provided by the qualitative research, Decision Analyst uses its Imaginations® panel of 2,000 exceptionally creative individuals to help generate new product ideas. These ideation sessions can be conducted online or offline, following creative processes developed by Decision Analyst. A typical all-day ideation session of eight Imaginations® produces from 400 to 600 unique new-product ideas or idea fragments. Decision Analyst’s Insights & Innovation Team then translates this raw ideation material into new product concepts. These concepts can then be refined with qualitative research before going into quantitative testing.

 

Concept Testing

 

Concept testing identifies potentially successful new products early on, so that you can focus limited research and development resources (and limited marketing resources) on the new product concepts with the greatest probability of consumer acceptance. Decision Analyst provides a suite of concept testing systems and services.

 

Brand Name Research

 

Selecting a name for a new product is an important step in new product development. Name Screen® is our online system to identify the best names for final evaluation. Typically, final names are tested in the context of package, concept, or product testing, so that all variables are implicitly incorporated into the name test.

 

Packaging Research

 

Package graphics and copy are critical to new product success. Decision Analyst offers a suite of package-testing services to help develop a winning package that can help generate trial of the new product and project the appropriate brand image.

 

Product Testing–Optima®

 

New products must be optimal to have a reasonable chance for success. Product testing is an essential step (or series of steps) in the development of a new product. Decision Analyst offers a range of product-testing services to help ensure that the new product will be successful.

 

Concept or® Volumetric Forecasting

 

With our Concept or® simulation models, year-one sales of a new product can be forecast, based on concept-testing scores, product-testing results, marketing-plan inputs, and media spending plans.

 

Test Market Evaluation

 

Real-world testing of new products is always recommended, if time and budgets permit. Actual store tests and/or actual test markets provide the most reliable evaluation of a new product. Decision Analyst is expert at designing and executing test markets for new products.

 

Product Clinics

 

Our automotive research group conducts static clinics, dynamic clinics, and 3D projection digital imaging clinics. These clinics range in size from small single city evaluations in the U.S. to large-scale multi-country clinics. Each clinic is conducted by a dedicated team, led by a senior researcher experienced in all aspects of conducting clinics. Data is captured using handheld devices to assure fast delivery of data tabulations. Presentations of clinic results can be provided within 24 hours of the conclusion of the clinic in-person or via Web-based meeting.

 

New Product Research Services

 

Decision Analyst is a leading global marketing research and analytical consulting firm, with over 3 decades of experience in new products research and consulting. Our staff has worked on hundreds of successful new products. With our worldwide online panels and interactive systems, targeted innovation processes, and analytical systems, we can bring transformational change and acceleration of pace to your new product development efforts.

 

Additional Resources from Decision Analyst

 

New Product Research Services

 

  • Brand Name Research
  • Concept Testing
  • Innovation Services
  • Packaging Research
  • Product Testing
  • Qualitative Research

 

 

New Product Research Brochures

 

  • Concept or® Brochure (opens a puff file)
  • Innovation Services Brochure (opens a puff file)
  • New Product Metamorphosis Brochure (opens a puff file)
  • Optima Product Testing Brochure (opens a puff file)
  • Package Optimization Brochure (opens a puff file)
  • Complete List of Decision Analyst Brochures
  • New Product Research Case Histories

 

Concept Testing

  • Games People Play
  • Hotel Services Innovation Program
  • Look Before Leaping
  • Never Trust an Engineer (Qualitative Research)
  • Positioning Test with Segmentation
  • Time-Extendedâ„¢ Online Qualitative
  • Using Exploratory Research to Formulate Quantitative Research and a Discrete Choice Modelling Design

Volumetric Concept Testing

  • New Product Research White Papers

 

  • Choice Modelling for New Product Sales Forecasting
  • Concept Testing (And the “Uniqueness” Paradox)
  • Hang the Innocent

New Product Sales Forecasting

  • New Products
  • New Products for Tough Times

Product Testing

  • Quality Promise Program–Empowering Consumers as Your Quality-Control Agents
  • Using Consumers to Fuel Your New Product Generation Pipeline: The Role of Idea-Centric Creativity

 

 

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Q.2 How to write a marketing report and what quality is to be ensured?

 

Q.3 Which are the various types of scales in marketing research and its applications?

 

 

Q.4    Explain the types of hypothesis and the steps involved in hypothesis testing.

 

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Q.5 What are the limitations of sampling? What are the indicators for an ideal sample?

Q.6 Considering Indian consumers and Indian market trends, mention the ways through which a marketing researcher can carry out research? If you were to research a market segment, how would you go about it?

Summer 2012

Master of Business Administration – MBA Semester 3

MK0013— Marketing Research – 4 Credits

Assignment Set- 2 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

 

Q.1 What are the nature, scope and features of Marketing Research?

Answer  :  The Role of Marketing Research in Strategic Planning and Decision Making

 

Our primary focus is on the role of marketing research in marketing strategy decisions.

 

A. Identifying Marketing Opportunities and Constraints

Identifying marketing opportunities and constraints is a logical starting point for developing marketing strategies.

 

   1. Embracing the Marketing Concept

Conducting marketing research to understand customers is becoming widespread as an increasing number of firms embrace the marketing concept (the philosophy of customer orientation urging firms to uncover customer needs first and then coordinate all their activities to satisfy those needs).

2. Understanding the Competitive Environment

Marketing research is vital to maintaining and improving a company’s overall

Competitiveness.

  • Unless managers understand the external environment, they cannot intelligently plan for the future.
  • Many organizations continually collect and evaluate environmental information to identify future market opportunities and threats.

 

B. Developing and Implementing Marketing Strategies

 

 

To benefit fully from the opportunities uncovered in the marketplace, a firm must develop an effective marketing strategy with an effective marketing mix:

  • the nature of its product
  • ways to promote the product
  • the price charged to potential customers
  • the means used to make the product available to them
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Good marketing research will identify whether the marketing mix is effective enough to maximize the benefits to the firm from available opportunities (sales, profits, customer satisfaction, and value.

 

Some of the most successful new-product introductions have been preceded by extensive marketing research that helped develop one or more elements of their marketing mixes.

 

C. Evaluating the Effectiveness of Marketing Plans

Getting feedback from the marketplace and taking corrective action for elements of products or services that need fixing is often referred to as controlling or the control function. Controlling is an important component of the planning and decision-making process and another area in which marketing research provides solutions.

 

To succeed in the marketplace, a firm must at least periodically monitor market conditions, usually by obtaining feedback from customers, and answer control-related questions such as:

  • What is the market share of our product?
  • Is its share increasing, decreasing, or staying the same?
  • Who are its users?
  • Are the nature of the users and the volume of their purchases consistent with our expectations (goals)? If not, why not?

 

Only marketing research, not marketers’ intuition, can yield accurate answers to such questions.

 

Nature of Marketing Research

Marketing research is systematic and objective collection of data, its analysis and evaluation, and decision making in respect of specific aspects of a marketing problem.

 

Marketing Research and Market Research:- The nature of marketing research cannot be properly understood without knowing the meaning of market research.  Market research is the gathering, recording and analyzing of market data to identify the present and potential customers and their motives and buying habits.  It is the discovery of the capacity of the market to absorb the products of a firm.  It is a part of the marketing research.  It is worthwhile to quote Richard D.Crips to identify clearly the scope of Marketing research and market research.  “Marketing research is the systematic, objective and exhaustive search for the study of the facts relevant to any problem in the field of marketing.  Market research is restricted to the study of actual and potential buyers, their location, their actual and potential value of purchases and their motives and habits.”

 

Market research may be conducted for the following reasons:

 

  1. To identify the present and potential customers and their needs.
  2. To forecast the demand of a product.
  3. To determine customers preferences with regard to packaging, design, size, price and other features of a product.
  4. To locate the demand for products with regard to time and place, such as festival demand.
  5. To explore new markets for existing products.

 

Scope of Marketing Research

Marketing research covers different aspects of marketing of goods, services and ideas.  There are many areas of marketing management where marketing research has special branches.

Product Research:- Product research is associated with the conversion of customer needs into tangible product offer.  This includes development and testing of new products, improving the existing products, and a tab on the changing customer preferences, habits, tastes, etc. Packaging design, branding, and labelling decisions are also included here.

Customer Research:- This research type includes investigation into the customer buying behaviour — the economic, social, cultural, personal and psychological influences.

Sales Research:- Sales research involves decisions concerning selection of store location, channels, territories, sales force motivation and compensation, etc. The purpose is to reach the target customer more effectively, efficiently and timely.  .

Promotion Research:- Promotion research encompasses all efforts by the marketers to communicate the company’s offer.  This includes advertising, publicity, public relations, sales promotion, etc.

 

Marketing Research (MR) is the systematic problem analysis, model building and fact finding method for the purpose of improved decision-making, with a view to control the marketing of goods and services.

 

The American Marketing Association defined MR as the function which links the consumer, customer and public to the marketer through information used to identify and define marketing opportunities and problems, refine and evaluate marketing actions, monitor marketing performance and improve understanding of marketing as a process.

 

Marketing research specifies the information required to address these issues, design the method for collecting information, manages and implements the data collection process, analyses the result and communicates the findings and their implications.

 

All the above definitions of marketing research emphasize the need for evaluating the problem and information in a more comprehensive and exhaustive manner. You can say that marketing research is a systematic and objective process of identifying and formulating the marketing problems, setting research objectives and methods for collecting, editing, coding, tabulating, evaluating, analyzing, interpreting the data in order to find justified solutions for these problems.

 

Nature of Marketing Research

  • Apart from  being systematic and objective in nature, the main characteristic features that characterize the nature of MR are:
  • Applied/Problem solving research
  • Often based on cost-benefit analysis
  • Vital for implementation of marketing concept
  • Value of information declines with time
  • Dynamic (ongoing)

 

 

Marketing research is one of the principal tools for answering questions because it:

  • Links the consumer, customer, and public to the market through information used to identify and define marketing.
  • Generates, refines, and evaluates marketing actions
  • Monitors marketing performance
  • Underlines the understanding of marketing as a process

 

 

Marketing research is often partitioned into two sets of categorical pairs, either by target market:

  1. Consumer marketing research, and
  2. Business-to-business (B2B) marketing research

 

 

Or, alternatively, by methodological approach:

  1. Qualitative marketing research, and
  2. Quantitative marketing research

Consumer marketing research is a form of applied sociology that concentrates on understanding the preferences, attitudes, and behaviours of consumers in a market-based economy, and it aims to understand the effects and comparative success of marketing campaigns. The field of consumer marketing research as a statistical science was pioneered by Arthur Nielsen with the founding of the ACNielsen Company in 1923.

 

Thus, marketing research may also be described as the systematic and objective identification, collection, analysis, and dissemination of information for the purpose of assisting management in decision making related to the identification and solution of problems and opportunities in marketing.

 

 

Q.2 What are client ethics and field service ethics? Explain with example.

 

 

Q.3 Discuss different types of information applicable in market research and mention their uses.

 

 

Q.4 What is SPSS? How does SPSS help in marketing research?

 

Q.5 Give a note on marketing audit.

Q.6 What do you mean by sales forecasting? Explain the steps involved in it.

 

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  • Summer 2012

    Master of Business Administration – MBA Semester 3

    MK0013— Marketing Research – 4 Credits

    Assignment Set- 1 (60 Marks)

    Note: Each question carries 10 Marks. Answer all the questions.

    Q.1 Distinguish between product research and new product research. Explain with examples.

    Answer   : New Product Research

     

    Successful new products are essential to a company’s growth and survival. We believe new products to be one of the most important applications of marketing research, but one of the most difficult to execute in practice. New products can be concept-driven or product-driven. The implicit model that underlies the following paragraphs is concept-driven (i.e., concept followed by product), but keep in mind that you can also start with a product and work “backward” to build a concept and positioning.

     

    New product development must have focal points to have any chance of success. Focal points include definition of the target market, determination of the product category, and/or definition of the problem to solve or opportunity to exploit. These focal points are largely managerial judgments. Once some of the basic focal points are identified, then Decision Analyst can help make the effort successful.

     

    Qualitative Explorations

     

    Once the target audience is identified (even if not totally precise), and some notion of the product category (or human need) is established, then qualitative research is the first step. The purpose is to develop in-depth understanding of the target consumer–their motivations, perceptions, fears, and preferences. Perceptions of competitive products can be explored. Unmet needs can be identified. New product ideas can be sought. The qualitative exploration serves to identify new product possibilities as well as refine the target-market definition for those possibilities. Qualitative research is also useful in determining the starting points for ideation.

     

    Innovation Services

     

    Building on the foundation of understanding provided by the qualitative research, Decision Analyst uses its Imaginations® panel of 2,000 exceptionally creative individuals to help generate new product ideas. These ideation sessions can be conducted online or offline, following creative processes developed by Decision Analyst. A typical all-day ideation session of eight Imaginations® produces from 400 to 600 unique new-product ideas or idea fragments. Decision Analyst’s Insights & Innovation Team then translates this raw ideation material into new product concepts. These concepts can then be refined with qualitative research before going into quantitative testing.

     

    Concept Testing

     

    Concept testing identifies potentially successful new products early on, so that you can focus limited research and development resources (and limited marketing resources) on the new product concepts with the greatest probability of consumer acceptance. Decision Analyst provides a suite of concept testing systems and services.

     

    Brand Name Research

     

    Selecting a name for a new product is an important step in new product development. Name Screen® is our online system to identify the best names for final evaluation. Typically, final names are tested in the context of package, concept, or product testing, so that all variables are implicitly incorporated into the name test.

     

    Packaging Research

     

    Package graphics and copy are critical to new product success. Decision Analyst offers a suite of package-testing services to help develop a winning package that can help generate trial of the new product and project the appropriate brand image.

     

    Product Testing–Optima®

     

    New products must be optimal to have a reasonable chance for success. Product testing is an essential step (or series of steps) in the development of a new product. Decision Analyst offers a range of product-testing services to help ensure that the new product will be successful.

     

    Concept or® Volumetric Forecasting

     

    With our Concept or® simulation models, year-one sales of a new product can be forecast, based on concept-testing scores, product-testing results, marketing-plan inputs, and media spending plans.

     

    Test Market Evaluation

     

    Real-world testing of new products is always recommended, if time and budgets permit. Actual store tests and/or actual test markets provide the most reliable evaluation of a new product. Decision Analyst is expert at designing and executing test markets for new products.

     

    Product Clinics

     

    Our automotive research group conducts static clinics, dynamic clinics, and 3D projection digital imaging clinics. These clinics range in size from small single city evaluations in the U.S. to large-scale multi-country clinics. Each clinic is conducted by a dedicated team, led by a senior researcher experienced in all aspects of conducting clinics. Data is captured using handheld devices to assure fast delivery of data tabulations. Presentations of clinic results can be provided within 24 hours of the conclusion of the clinic in-person or via Web-based meeting.

     

    New Product Research Services

     

    Decision Analyst is a leading global marketing research and analytical consulting firm, with over 3 decades of experience in new products research and consulting. Our staff has worked on hundreds of successful new products. With our worldwide online panels and interactive systems, targeted innovation processes, and analytical systems, we can bring transformational change and acceleration of pace to your new product development efforts.

     

    Additional Resources from Decision Analyst

     

    New Product Research Services

     

    • Brand Name Research
    • Concept Testing
    • Innovation Services
    • Packaging Research
    • Product Testing
    • Qualitative Research

     

     

    New Product Research Brochures

     

    • Concept or® Brochure (opens a puff file)
    • Innovation Services Brochure (opens a puff file)
    • New Product Metamorphosis Brochure (opens a puff file)
    • Optima Product Testing Brochure (opens a puff file)
    • Package Optimization Brochure (opens a puff file)
    • Complete List of Decision Analyst Brochures
    • New Product Research Case Histories

     

    Concept Testing

    • Games People Play
    • Hotel Services Innovation Program
    • Look Before Leaping
    • Never Trust an Engineer (Qualitative Research)
    • Positioning Test with Segmentation
    • Time-Extendedâ„¢ Online Qualitative
    • Using Exploratory Research to Formulate Quantitative Research and a Discrete Choice Modelling Design

    Volumetric Concept Testing

    • New Product Research White Papers

     

    • Choice Modelling for New Product Sales Forecasting
    • Concept Testing (And the “Uniqueness” Paradox)
    • Hang the Innocent

    New Product Sales Forecasting

    • New Products
    • New Products for Tough Times

    Product Testing

    • Quality Promise Program–Empowering Consumers as Your Quality-Control Agents
    • Using Consumers to Fuel Your New Product Generation Pipeline: The Role of Idea-Centric Creativity

     

     

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    Q.2 How to write a marketing report and what quality is to be ensured?

     

    Q.3 Which are the various types of scales in marketing research and its applications?

     

    Q.4    Explain the types of hypothesis and the steps involved in hypothesis testing.

     

     

     

    Q.5 What are the limitations of sampling? What are the indicators for an ideal sample?

     

    Q.6 Considering Indian consumers and Indian market trends, mention the ways through which a marketing researcher can carry out research? If you were to research a market segment, how would you go about it?

     

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    Summer 2012

    Master of Business Administration – MBA Semester 3

    MK0013— Marketing Research – 4 Credits

    Assignment Set- 2 (60 Marks)

    Note: Each question carries 10 Marks. Answer all the questions.

     

    Q.1 What are the nature, scope and features of Marketing Research?

    Answer  :  The Role of Marketing Research in Strategic Planning and Decision Making

     

    Our primary focus is on the role of marketing research in marketing strategy decisions.

     

    A. Identifying Marketing Opportunities and Constraints

    Identifying marketing opportunities and constraints is a logical starting point for developing marketing strategies.

     

       1. Embracing the Marketing Concept

    Conducting marketing research to understand customers is becoming widespread as an increasing number of firms embrace the marketing concept (the philosophy of customer orientation urging firms to uncover customer needs first and then coordinate all their activities to satisfy those needs).

    2. Understanding the Competitive Environment

    Marketing research is vital to maintaining and improving a company’s overall

    Competitiveness.

    • Unless managers understand the external environment, they cannot intelligently plan for the future.
    • Many organizations continually collect and evaluate environmental information to identify future market opportunities and threats.

     

    B. Developing and Implementing Marketing Strategies

     

     

    To benefit fully from the opportunities uncovered in the marketplace, a firm must develop an effective marketing strategy with an effective marketing mix:

    • the nature of its product
    • ways to promote the product
    • the price charged to potential customers
    • the means used to make the product available to them

     

    Good marketing research will identify whether the marketing mix is effective enough to maximize the benefits to the firm from available opportunities (sales, profits, customer satisfaction, and value.

     

    Some of the most successful new-product introductions have been preceded by extensive marketing research that helped develop one or more elements of their marketing mixes.

     

    C. Evaluating the Effectiveness of Marketing Plans

    Getting feedback from the marketplace and taking corrective action for elements of products or services that need fixing is often referred to as controlling or the control function. Controlling is an important component of the planning and decision-making process and another area in which marketing research provides solutions.

     

    To succeed in the marketplace, a firm must at least periodically monitor market conditions, usually by obtaining feedback from customers, and answer control-related questions such as:

    • What is the market share of our product?
    • Is its share increasing, decreasing, or staying the same?
    • Who are its users?
    • Are the nature of the users and the volume of their purchases consistent with our expectations (goals)? If not, why not?

     

    Only marketing research, not marketers’ intuition, can yield accurate answers to such questions.

     

    Nature of Marketing Research

    Marketing research is systematic and objective collection of data, its analysis and evaluation, and decision making in respect of specific aspects of a marketing problem.

     

    Marketing Research and Market Research:- The nature of marketing research cannot be properly understood without knowing the meaning of market research.  Market research is the gathering, recording and analyzing of market data to identify the present and potential customers and their motives and buying habits.  It is the discovery of the capacity of the market to absorb the products of a firm.  It is a part of the marketing research.  It is worthwhile to quote Richard D.Crips to identify clearly the scope of Marketing research and market research.  “Marketing research is the systematic, objective and exhaustive search for the study of the facts relevant to any problem in the field of marketing.  Market research is restricted to the study of actual and potential buyers, their location, their actual and potential value of purchases and their motives and habits.”

     

    Market research may be conducted for the following reasons:

     

    1. To identify the present and potential customers and their needs.
    2. To forecast the demand of a product.
    3. To determine customers preferences with regard to packaging, design, size, price and other features of a product.
    4. To locate the demand for products with regard to time and place, such as festival demand.
    5. To explore new markets for existing products.

     

    Scope of Marketing Research

    Marketing research covers different aspects of marketing of goods, services and ideas.  There are many areas of marketing management where marketing research has special branches.

    Product Research:- Product research is associated with the conversion of customer needs into tangible product offer.  This includes development and testing of new products, improving the existing products, and a tab on the changing customer preferences, habits, tastes, etc. Packaging design, branding, and labelling decisions are also included here.

    Customer Research:- This research type includes investigation into the customer buying behaviour — the economic, social, cultural, personal and psychological influences.

    Sales Research:- Sales research involves decisions concerning selection of store location, channels, territories, sales force motivation and compensation, etc. The purpose is to reach the target customer more effectively, efficiently and timely.  .

    Promotion Research:- Promotion research encompasses all efforts by the marketers to communicate the company’s offer.  This includes advertising, publicity, public relations, sales promotion, etc.

     

    Marketing Research (MR) is the systematic problem analysis, model building and fact finding method for the purpose of improved decision-making, with a view to control the marketing of goods and services.

     

    The American Marketing Association defined MR as the function which links the consumer, customer and public to the marketer through information used to identify and define marketing opportunities and problems, refine and evaluate marketing actions, monitor marketing performance and improve understanding of marketing as a process.

     

    Marketing research specifies the information required to address these issues, design the method for collecting information, manages and implements the data collection process, analyses the result and communicates the findings and their implications.

     

    All the above definitions of marketing research emphasize the need for evaluating the problem and information in a more comprehensive and exhaustive manner. You can say that marketing research is a systematic and objective process of identifying and formulating the marketing problems, setting research objectives and methods for collecting, editing, coding, tabulating, evaluating, analyzing, interpreting the data in order to find justified solutions for these problems.

     

    Nature of Marketing Research

    • Apart from  being systematic and objective in nature, the main characteristic features that characterize the nature of MR are:
    • Applied/Problem solving research
    • Often based on cost-benefit analysis
    • Vital for implementation of marketing concept
    • Value of information declines with time
    • Dynamic (ongoing)

     

     

    Marketing research is one of the principal tools for answering questions because it:

    • Links the consumer, customer, and public to the market through information used to identify and define marketing.
    • Generates, refines, and evaluates marketing actions
    • Monitors marketing performance
    • Underlines the understanding of marketing as a process

     

     

    Marketing research is often partitioned into two sets of categorical pairs, either by target market:

    1. Consumer marketing research, and
    2. Business-to-business (B2B) marketing research

     

     

    Or, alternatively, by methodological approach:

    1. Qualitative marketing research, and
    2. Quantitative marketing research

    Consumer marketing research is a form of applied sociology that concentrates on understanding the preferences, attitudes, and behaviours of consumers in a market-based economy, and it aims to understand the effects and comparative success of marketing campaigns. The field of consumer marketing research as a statistical science was pioneered by Arthur Nielsen with the founding of the ACNielsen Company in 1923.

     

    Thus, marketing research may also be described as the systematic and objective identification, collection, analysis, and dissemination of information for the purpose of assisting management in decision making related to the identification and solution of problems and opportunities in marketing.

     

    Dear Students,

    Get your assignments from Our ESTEEMED ORGANIZATION smumbaassignment.com 

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    Q.2 What are client ethics and field service ethics? Explain with example.

     

     

     

    Q.3 Discuss different types of information applicable in market research and mention their uses.

     

     

    Q.4 What is SPSS? How does SPSS help in marketing research?

    Q.5 Give a note on marketing audit.

     

    Q.6 What do you mean by sales forecasting? Explain the steps involved in it.

     

    Dear Students,

    Get your assignments from Our ESTEEMED ORGANIZATION smumbaassignment.com 

    Just email to kvsude@gmail.com  or  S M S  to +91 9995105420.

    message Format – SMU MBA <Name> <E-MAIL ID> <SEM ? >  To +91 9995105420 , we will reach back you with in 24H

    Or Directly call our Middle East Office +974 55702886 .

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