SMU MBA ASSIGNMENTS

Step One – Country Identification

The World is your oyster. You can choose any country to go into. So you conduct country identification – which means that you undertake a general overview of potential new markets. There might be a simple match – for example two countries might share a similar heritage e.g. the United Kingdom and Australia, a similar language e.g. the United States and Australia, or even a similar culture, political ideology or religion e.g. China and Cuba. Often selection at this stage is more straightforward. For example a country is nearby e.g. Canada and the United States. Alternatively your export market is in the same trading zone e.g. the European Union. Again at this point it is very early days and potential export markets could be included or discarded for any number of reasons Read the rest of this entry →

1. International franchising

Franchising is basically a specialized form of licensing in which the franchiser not only sells intangible property to the franchisee, but also insists that the franchisee agree to abide by strict rules as how it does business. The franchiser will also often assist the franchisee to run the business on an ongoing basis.

While licensing works well for manufacturers, franchising is often suited to the global expansion efforts of service and retailing. McDonald‟s, Tricon Global Restaurants (the parent of Pizza Hut, Kentucky Fried Chicken, and Taco Bell), and Hilton Hotels have all used franchising to build a presence in foreign markets. Read the rest of this entry →

Answer:

GATT

GATT is a multilateral treaty among the member countries that lays down certain agreed rules for conducting international trade. The member countries contribute together to four-fifth of the total world trade. It is interesting to note that underdeveloped countries form a sizable majority in GATT.

The basic aim of GATT is to liberalise world trade negotiations among members countries and, for the last forty seven years, it has been concerned with negotiations on the reduction, even the elimination of trade barriers – tariff and non-tariff – between countries and improving trade relations so that the international trade flows freely and swiftly. It also provides a forum to member countries to discuss their trade problems and negotiate to enlarge their trading opportunities. Read the rest of this entry →

1. a) Customer Metrics

Customer metrics includes numerical scores or indices that summarize customer feedback results. These scores are normally based on customer ratings (e.g., average satisfaction rating with product quality) or open-ended customer comments (via sentiment analysis). Customer metrics reflect the underlying characteristic/mental processes about your customers: their opinions, attitudes, and behaviour about and intentions towards your company or brand. Some of the common tools employed to measure customer metrics are: Read the rest of this entry →

Answer: – Word-of-mouth marketing, also called word-of-mouth advertising, is one of the most credible, unpaid forms of marketing—oral or written—wherein satisfied customers tell other people how much they like a business, product, service, or event. Word-of-mouth techniques of e-marketing include: Read the rest of this entry →

Answer: –   a) Explanation to the 4 P’s in E-Marketing

The term ‘marketing mix’ was coined by Neil H. Borden of Harvard Business School, who explained the concept in his article The Concept of the Marketing Mix in 1964. The article elaborated the elements of the marketing mix, which he explained were necessary ingredients for creating a balanced and attractive offering to customers. It was Professor E. Jerome McCarthy who divided the mix into the 4Ps – product, price, promotion and place.

 Product

The product may be an item for sale or a service, and these may be direct to the consumer (B2C) or to businesses (B2B). The product is the most important part of the business. Thus, it is crucial for a business to showcase its products to potential customers. In an online business, the product and its specifications should be shown clearly. In case of electronics, the technical details, model specifications, compatibility, etc., should be displayed. In case of apparel, the size, fabric and colour should be given.

In case the product is a service, the USP of the service should be highlighted. Since it cannot be shown, user testimonials and examples can be shown to win the customer’s confidence. While showing the product, the seller must ensure search engine optimization, so that it comes out on top of online searches.

Price

The price of a product or service is a key element of the marketing mix; it must be acceptable to target customers and it must reflect the other components of

the mix accurately. The price of the service is the value attached to it by the service provider and it must correspond with the customer’s perception of value. If the service is priced too high, customers who will not buy it will see it as poor value for money. On the other hand, if the price is too low, the service or product may be perceived as inferior in quality.

Promotion

Promotion is used to communicate information about goods and services to target market audiences, thereby facilitating the exchange process by closing the information gap. It is sometimes argued that effective marketing – offering the right service at the right price in the right locations to meet target customers’ needs and wants – should not require extensive promotional activity as the products or services will ‘sell themselves’. There is an element of truth in this, as the purpose of developing a finely tuned marketing mix is to match offerings and benefits very closely to the needs of identified target groups of customers. The result of this, in theory, is that customers will favour one particular organization over competitors and will actively seek their service offerings.

Place

Most producers of physical goods do not sell directly to their end consumers in today’s market. They can make choices about where to produce the goods, based on lower labour costs and other considerations, together with decisions about which markets to sell the goods in and how to get the goods to the consumers. Distribution, or the ‘place’ element, of the marketing mix is concerned chiefly with two main issues: accessibility and availability.

Answer: –

Internal considerations include organizational structure and culture, SWOT analysis of workforce, existence of competitive advantage, and budget.

Organizational Structure and culture: The organizational structure and culture play a major role in how an e-marketing plan shapes up. For example, a company with a flat organization and one with less hierarchy or an open culture has greater openness, sharing, transparency and team-fostering among employees.

SWOT analysis: Before making an e-marketing plan, the strengths and weaknesses of the workforce must be studied carefully. Read the rest of this entry →

Answer: –

1. a) Explanation to the types of online stores in E-Malls

An e-mall is an online shopping centre in which there are many online, or virtual, stores. The basic four types of online stores have been explained below:

1. General stores/malls

These are general stores that have a presence in the online market. They include stores like Junglee.com and infibeam.com which act as an interface between the buyer and seller. They are stores that have a variety of items for sale and are thus called general stores. They do not specialize in selling any one item. Read the rest of this entry →

1. a) Explanation of Front-end & Back-end         activities of Infrastructure: Building a Product system

Front-end

Front-end is the portion of an e-seller’s business processes through which customers interact, including the seller’s portal, electronic catalogues, a shopping cart, a search engine and a payment gateway. For example, when we book a hotel through a Website, we find the brand through the search engine, go through the electronic catalogue, and make the payment through the payment gateway maintained by entities such as HDFC or Axis Bank.

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Answer: – Role of advertising in marketing mix Positioning

Marketing has been defined by various experts as that which covers all activities  from  product  conception  to  the  last step  when  it  reaches  the consumer. An exhaustive list of its primary activity includes:

• Product, Price, Promotion, Placement (4 Ps of E. Jerome McCarthy, 1960)

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Answer: – Various factors, such as the following, have to be considered while setting the budget:

• Product
• Competition
• Market share
• Market situation
• Distribution system
• Sales decay rate
• Unexploited sales potential

Product

Various factors related to the product such as the product type, stage in the product life cycle, complexity of features, Read the rest of this entry →

Answer: – Advertisers need to know the different theories of persuasion and how one message can greatly differ from another simply because of the persuasion strategy used. Following are some of the best-known ones that attempt giving some answers. Read the rest of this entry →

Answer: – There are some factors which deeply influence our thinking about advertising in India. These factors are entirely different from the last century and perhaps from other developing countries.

1       Industrial growth

Industrial growth is difficult to measure in absolute terms because when one sector is doing well, another may not be. Industrial lending is a key indicator. Big industries have been in a tight spot since 2008–09 due to global recession, forcing closures and retrenchments. And the financial health of the urban industrial worker segment is a major influencer of the urban market. Read the rest of this entry →

Explanation of the concepts Strengths and Weakness     

Answer: –

The concern about malpractices in market transactions, intended or otherwise, is great. Especially in case of rural consumers, the law had to step in to protect the interest of this segment. The primary concerns of the government are that consumer protection measures should be concerned with:

• Protection from hazards of health and safety
• Promotion of economic interests
• Access to adequate information
• Control of misleading advertisements and deceptive representation
• Consumer education
• Effective consumer redress

The Consumer Protection Act, 1986

The enactment of the Consumer Protection Act, 1986 and setting up of Consumer Protection Councils passing the Right to Information Act have brought relief to the consumer. The Website of the Consumer Protection Act hails it as a “milestone in the history of socio-economic legislation.” The product may be a screw or a car, but defects require redressal. The Act defines clearly how to seek relief. Read the rest of this entry →

Answer:

1. a) e-CRM

The basic idea of e-CRM comes from e-commerce. Essentially, e-CRM differs from CRM in terms of the technology and the syntactical nature of interface with customers. Typically an e-CRM would provide customers with a self-service browser based window on which they may have greater autonomy to surf different schemes and offers. Additionally, an e-CRM will also be able to generate a history of purchases, e-mails where they will get updates and such like. In other words, e-CRM has been designed to monitor all forms of managing relationships with customers using IT or information technology. Read the rest of this entry →

• Nature of service marketing

Answer: Service marketing is marketing based on relationship and value. It may be used to market a service or a product that is defined under service activities discussed earlier. Marketing a service-based business is different from marketing a goods based business. For one, it is not easy to put a price to the service. Also, service firms are organized in a different manner in terms of structure. Determining costs becomes even more difficult in the non-profit sector wherein there are many limitations. All these reasons make it essential for marketing of services to be done in a different manner. Read the rest of this entry →

• IT in the Education sector
• IT in the Banking sector

Answer:

NIIT is the most poignant case in point o highlight the importance of IT in the education sector. It has allowed IT to emerge as a discipline in the existing patterns in schools and colleges. In other words, with due recognition to NIIT, education itself has undergone several positive transformations. Read the rest of this entry →

• Howard Sheth model

Answer:   Making a service purchase decision is seldom a solitary enterprise, that is to say, many people are involved in the decision-making process. For this purpose, key players need to be identified so that a specific service format can be developed. Additionally, it is task of service managers to see to it that some degree of equilibrium is maintained between people’s needs and promotional messages. Sometimes, buyers of any given service do not exercise complete rationality. Read the rest of this entry →

• Service Marketing Mix

Answer: Service marketing has been relatively gaining ground in the overall spectrum of educational marketing as developed economies move further from industrial importance to service oriented economies. Marketing is the flow of goods and services from the producer to consumer. In common parlance it is the distribution and sale of goods and services.

However, in many ways, developing a marketing strategy is much the same for products and services, in that it involves selecting target markets and formulating a marketing mix. Thus, Theodore Levitt suggested that ‘instead of talking of ‘goods’ and of ‘services’, it is better to talk of ‘tangibles’ and ‘intangibles’. Levitt also went on to suggest that marketing a physical product is often more concerned with intangible aspects (frequently the `product service’ elements of the total package) than with its physical aspects. After-sales, service is very important in the service sector. Marketing strategy in the service industry approaches the problems from the opposite end of the same spectrum. Since it is a vast and important topic, its coverage has been split into three units. In this unit, you will learn about the first 3 Ps out of the 7 Ps of the service marketing mix.

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• Targeting goals

Answer: Customers form the most integral part of service production as well as marketing. The service process is begun by identifying and then targeting the right customers. It is important for every firm to specify the target group before launching a service product. A huge marketplace holds a variety of customers with different preferences, needs and expectations. It is important to zero down on the ‘right’ segment of customers. While formulating a strategy for identifying the target segment, the following issues need to be addressed. Read the rest of this entry →

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Answer: The Earned Value Method (EVM) is a useful tool that allows the calculationsof cost and schedule performance measures including cost variance,schedule variance, cost and time over-runs for Read the rest of this entry →

Answer: Role of Risk Management in Overall Project Management

Risk analysis and management is a process which enables the analysis and management of the risks associated with a project. Properly undertaken, it will increase the likelihood of successful completion of a project to cost, time, and performance objectives. There are a lot of benefits of Read the rest of this entry →

Answer: Competitive bid (bid and award)

The steps involved in competitive bid are discussed below:

1. The bid or tender is invited from a required number of suppliers.
2. The bid

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Answer: The Project Life Cycle

A rational order of activities that are applied to attain the project’s goals orobjectives is known as the project life cycle. Most projects experiencesimilar stages on the path from origin to

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Answer: PERT model

A PERT chart is a project management tool used to schedule, organize, and coordinate tasks within a project. PERT stands for Program Evaluation Review Technique, a methodology developed

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Answer: a) Economic Order Quantity( EOQ)

The Economic Order Quantity (EOQ) is the number of units that a company should add to inventory with each order to minimize the total costs of inventory—such as holding costs, order costs, and shortage costs. The EOQ is used as part of a continuous review inventory system in which the level of inventory Read the rest of this entry →

Answer: Simulation is the process of defining a model of a real system and conducting experiments with this model for the purpose of understanding the behaviour (within the limits imposed by a criterion or a set of criteria) for the operation of a system

Simulation Read the rest of this entry →

Answer: a) Hungarian method algorithm is based on the concept of opportunity costand is more efficient in solving assignment problems. The following stepsare adopted to solve an AP using the Hungarian method algorithm.

Step 1: Prepare row Read the rest of this entry →

Answer: a) Degeneracy in transportation problem

A basic solution to an m-origin, n destination transportation problem canhave at the most m+n-1 positive basic variables (non-zero), otherwise thebasic solution degenerates. It follows that whenever the number Read the rest of this entry →

Answer: a) The procedure for mathematical formulation of a linear programming problem consists of the following major steps:

1. Study the given situation to find the key decisions to be made
2. Identify the variables involved and designate them by symbols xj(j=1,2….)
3. State

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Answer: Operations Research Methodology

Definition: The first and the most important step in the OR approach of problem solvingis to define the problem. One needs to ensure that the problem is identifiedproperly because this problem statement will indicate the following threemajor aspects:

• Description of the goal or the objective of the study
• Identification of the decision alternative to the system
• Recognition of the limitations, restrictions, and requirements of the system

Construction: Read the rest of this entry →

Answer: Information systems are used widely across organisations, and they enabledata and information to be widely distributed for use. When the data pertainsto individuals (relating to their work, personal habits, or Read the rest of this entry →

Answer: Different aspects of the need for database systems

Data independence: Databases allow data pertaining to an activity or a domain to be maintainedindependently. This independence means that the data is stored in separatefiles in a structured manner, and the creation and updating of the data is doneindependent of its uses. For instance, in a college, a database of studentsis updated when a student joins or leaves the college, changes address,changes phone number, Read the rest of this entry →

Answer: The idea of CRM systems is to integrate all functions related to sales and marketingon a common platform. These functions include those that require supportto sales and marketing staff and also those that Read the rest of this entry →

1. Answer:
   

   Competitive Strategy	Use of Information Systems	Example
   Create barriersto entry forcompetition	To create barriers to entry of new competition, firms maylock-in existing customers withloyalty programmes and freeaccessaccounts created withinformation systems. Data from such loyalty programmescan also be used to identifycustomer tastes and patternsof buying to further providethem with goods and services.	Yatra.com is an onlinetravel portal that enablescustomers to buy airlineand railway tickets fromits site. It maintains aloyalty programme byproviding discount couponsto customers whopurchase frequently.

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Answer: Data is a raw collection of facts. The word raw indicates that the facts have not been processed in any way. When processed, data is called information. For example, consider the act of booking a ticket on the Indian Railways (IR) website. Let us assume that you have already picked your source station, the place where you will start your journey, Read the rest of this entry →