What is the role of a Marketing Plan
What is the role of a Marketing Plan
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Marketing Management
Part one:
Multiple choice:
I.“Image building” objectives are common
in _____ type of market structure. (1)
a) Competition
b) Oligopoly
c) Monopoly
d) Monopsony
II. The concept of marketing mix was
developed by______ (1)
a) N.H Borden
b) Philip Katter
c) Satanton
d) W.Anderson
III. Marketing mix consists of ___ (1)
a) Production recognition
b) Price structure
c) Distribution planning
d) All of these
IV. The concept of marketing mix involves
a deliberate and careful choice of organization, product, price promotion,
place strategies and___ (1)
a) Policies
b) Concept
c) Planning
d) All of these
V.Operating cost for new system is added
into implementation cost and is then divided by gains by improvements in
productivity is called (1)
a) Economic Value Added
b) Analysis Of Benefits
c) Return On Investment
d) Return On Public Offering
VI. Pricing strategy used to set prices
of products that are must be used with main product is called (1)
a) Optional Product Pricing
b) Product Line Pricing
c) Competitive Pricing
d) Captive Product Pricing e
VII. New product pricing strategy through
which companies set lower prices to gain large market share is classified as
(1)
a. Optional Product Pricing
b. Skimming Pricing
c. Penetration Pricing
d. Captive Product Pricing
VIII. Company marketing mix that target
market segments very broadly is called (1)
a. Mass Marketing
b. Segmented Marketing
c. Niche Marketing
d. Micromarketing
IX. What does the term PLC stands for?
(1)
a) Product life cycle
b) Production life cycle
c) Product long cycle
d) Production long cycle
X. Which of the following is not a
characteristic of “Market Introduction Stage” in PLC? (1)
a) Demands has to be created
b) Costs are low
c) Makes no money at this
stage
d) Slow sales volume to start
e) There is little or no competition
Part Two:
1. Name and define the four
Ps of the marketing mix? (5)
2. Definition of 'Pricing Strategies'?
(5)
3. What is the role of a Marketing Plan?
(5)
4. Describe the difference in Push &
Pull distribution strategies? (5)
Caselet1
Because of its imaginative marketing,
excellent new products, and fine service to customers, the Westside Business
Computers and Equipment Company grew to be a leader in its field, with sales
over Rs. 100 crores annually, high profit margins, and continually rising stock
prices. It became one of the favorites of investors, who enjoyed its fast
growth rate and high profits. But the president of the company, Mr. Desai, soon
realized that the organization structure, which had served the company so well,
no longer fitted the company’s needs.
For years the company had been organized
along functional lines, with vice-presidents in charge of production,
purchasing, finance, marketing, personnel, engineering, and research and
development. In its growth, the company had expanded its product lines beyond
business computers to include photocopying machines, projectors, and
motion-picture cameras. As time passed on, concern had arisen that its
organization structure did not provide for profit responsibility below the
office of the president, did not appear to fit the far-flung nature of the
business now being conducted in many foreign countries, and seemed to emphasize
the "walls" impeding effective coordination between the functional
departments of marketing, production, and engineering. There seemed to be too
many decisions that could not be made at any level lower than the president's
office.
As a result, Mr.Desai decentralized the
company into fifteen independent domestic and foreign divisions, each with
complete profit responsibility. However, after this reorganization was in
effect, he began to feel that the divisions were not adequately controlled.
There developed considerable duplication in purchasing and personnel functions,
each division manager ran his or her operations without regard to company
policies and strategies, and it became apparent to the president that the
company was disintegrating into a number of independent parts.
Having seen several large companies get
into trouble when a division suffered large losses, Mr.Desai concluded that he
had gone too far with decentralization. As a result, he withdrew some of the
authority delegations to the division managers and required them to get top
corporate management approval on such important matters as (1) any capital
expenditures over Rs.5,00,000 (2) the introduction of any new products, (3)
marketing and pricing strategies and policies, (4) plant expansion, and (5)
changes in personnel policies.
The division general managers were
understandably unhappy when they saw some of their independence taken away from
them. They openly complained that the company was not very sure about the
organizational structure that it wants to follow. The president, worried about
his position, calls you in as a consultant to advise him on what to do.
Questions
1. Do you agree on what Mr. Desai did to
regulate control was correct? (10)
2. What would you have done under these
circumstances? (10)
Caselet2
Mr. Sachin, the Sales manager of the Blue
Ridge Furniture Company, had just completed a two-week trip auditing customer
accounts and prospective accounts in the southern states. His primary intention
was to do follow-up work on prospective accounts contacted by sales staff
members during the past six months. Prospective clients were usually furniture
dealers or large department stores with furniture departments.
To his amazement, Mr. Sachin discovered
that almost all the so-called prospective accounts were fictitious. The people
had obviously turned in falsely documented field reports and expense
statements. Company salespeople had actually called upon 3 of 22 reported
furniture stores or department stores. Thus. Mr. Sachin summarized that
salespeople had falsely claimed approximately 85 percent of the goodwill
contacts. Further study showed that all salespeople had followed this general
practice and that not one had a clean record.
M r. Sachin decided that immediate action
was mandatory although the salespeople were experienced senior individuals.
Angry as he was, he would have preferred, firing them. But he was responsible
for sales and realized that replacing the staff would seriously cripple the
sales program for the coming year.
Questions
1.
As Mr. Sachin, what would
you do now to resolve the problem of the false reports? (10)
2.
What could Mr. Sachin have
done to prevent this problem? (10)
Section C: Applied Theory (30 marks)
1. What is marketing mix in
marketing management? What are the seven (7) elements of marketing? (15)
2. What are the goals or objectives of
marketing? (15)
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| What is the role of a Marketing Plan |
Assignment Solutions, Case study Answer sheets
Project Report and Thesis contact
www.mbacasestudyanswers.com
ARAVIND – 09901366442 – 09902787224
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