CHANDNI

ROLL NO. - 2214504889

BACHELOR OF BUSINESS ADMINISTRATION (BBA)
Ist Semester
DBB1104 – MARKETING MANAGEMENT

Assignment Set – 1

Ans1.

Ans: Macro-environment of the organization - The forces outside of the company make up
the macro environment. They are out of the company's control. The macro environment not
only presents opportunity for the business but also dangers. Successful businesses seize
chances and turn dangers into advantages. Variables in the macro environment can affect a
business either directly or indirectly. These factors make up the environment's uncontrollable
forces. Now let's look at each macro environment.

a) Demographic environment The term "demography" refers to the study of the human
population, including its size, density, geography, age, gender, race, and other demographics.
People who are of great interest to marketers are involved. The first environmental fact that
interests marketers is population since people make up the market, in the words of Louise G.
Pol Marketers should monitor changes in the population structure on a constant basis. They
would be able to significantly manage their target markets as a result. For instance, more
women are finding employment.

As a result, this demographic group is being targeted by marketers for goods including cars,
insurance, travel, and financial services. Nowadays, the husband helps with household duties
like cleaning and kid care. As a result, food and home appliance manufacturers are targeting
husbands in their advertising. Small apartments, appliances, furniture, packaged foods,
vacation packages, and other amenities are required for small families supported by surplus
income. As a result, they are frequently advertised to nuclear families.

b) Political environment Political developments have a significant impact on marketing

choices. Laws, statutes, governmental organisations, and political parties are some of the
elements that make up the political environment. The political situation should be used by
marketers to their advantage.
Over time, the amount of legislation that affects industry has continuously risen. Business
laws adopted in the nation cover a variety of topics, including licencing for industries,
prohibiting unfair trade practises, controlling the choice of a selling agent, regulating the use
of patents and brand names, controlling the production, supply, and distribution of food
products, protecting consumers, etc. The marketing implications of these regulations should
be thoroughly studied by marketers. To win the government's backing, they should operate
within the confines of the corporate laws.

c) Technological environment Technology is becoming the most important component for

any company. Utilizing cutting-edge technology frequently opens doors for new goods and
markets. The advancements in electronics, computing, and telecommunications are
astounding. Consumers' lifestyles and patterns of consumption have altered as a result. The
way that goods and services are distributed has been changed by internet advertising, online
buying, etc. Marketers' products will become dated and lose their competitive edge if they
don't embrace the most recent technologies. The company should evaluate the technology
options offered by the industry and analyse the relative advantages and cost effectiveness of
alternative technologies after having a thorough understanding of the whole technological
environment.

d) Economic and Legal environment Marketers are required to follow rules and regulations
framed under the law of the operating country with regards to pricing, advertising and all
marketing activities.

Some of the laws affecting marketing activities are:-

 Minimum wage laws

 Environmental protection laws

 Worker safety laws

 Union laws

 Copyright and patent laws

 anti- monopoly laws

 Sunday closing laws

 Municipal licenses
 Laws that favour business investment

Ans 2.

Ans: The collection of all product lines and items that a certain seller offers for sale to
customers is known as a product mix (sometimes called a product assortment). A company's
product mix is its collection of product lines. Related products are not required to be in the
product mix. In other terms, the "combination of products provided for sale by a corporation"
is what is meant by product mix. It is a group of goods that a company produces or sells. A
company might produce electric lamps, watches, machines, etc.

Product mix has four main characteristics or dimensions and they are:-

(1) Length

(2) Width

(3) Depth

(4) Consistency

4 Stages of the Product Life Cycle:-

To recap, we are now well-versed with what a product life cycle is, why product life cycle
management is important, and how the product development life cycle helps businesses. We
will now skim through the four stages of the product life cycle and their importance.

1. Introduction – The product life cycle's initial phase is represented by this. The first
step after a product is developed is to introduce it to the market. The product is
initially released onto the market at this phase. Although the outcome of this stage in
the product development life cycle is crucial, it does not determine whether the
product will be a success. In order to get the goods to consumers, a lot of marketing
and promotion efforts are made, and money is pooled. Companies can predict how
people will react to a product at this point of product life cycle management. In other
words, the goal is to spur enormous demand.
2. Growth – 2. Consumers start to act during the growth stage. They purchase the item,
which raises sales by becoming well-liked. Other businesses have taken note of the
offering as it begins to attract more interest and money. When there is fierce
 competition, more money may be invested in the market. The product's market grows,
and it might also be modified at this point to ensure that certain features, etc., are
enhanced. Additionally, price reductions may be required by the competition.
However, when sales rise, the expansion of the product and market follows.
3. Maturity – Sales decline during the mature period, a sign that the market has started
to become saturated. During this phase of the product life cycle, price also starts to
become competitive. The profit margins become slimmer as a result. The goal of
marketing at this point is to fend off competition, and occasionally, modified items
are introduced.
4. Decline – Although businesses make every effort over the various stages of a
product's life cycle to guarantee that it remains viable in the market, a future decline
cannot be completely ruled out. Because of this, understanding the product life cycle
is initially crucial. Sales decline when a product is in the decline stage because
consumer demand and behaviour have changed. Market share declines for the product,
and competition deteriorates as well. The product eventually leaves the market.

Examples of the Product Life Cycle:- We can look at examples of the product life cycle to
better understand each of these stages. These examples will clarify how a product is
introduced and the many stages it goes through. These product life cycle examples might not
be sufficient for you to pursue a career in product life cycle management, though. You must
attend a product management course, which will provide you deeper understanding of the
management of the product life cycle. Here are a few more instances of product life cycles:

Typewriters – The speed and effectiveness of writing were both increased by typewriters.
The need for typewriters eventually decreased as other gadgets like laptops and PCs were
released. They eventually matured and were removed from the market.

VCR – VCRs were effectively phased out after the advent of CDs, DVDs, and eventually the
Internet.

Ans3: Marketing concepts are of immense value to the organisation. Its benefits are as
follows:
I It makes the point that an organization's long-term success is only guaranteed if the needs of
the market are acknowledged and the needs of the customer are given top priority in all
business activities.
ii) It unmistakably implies that studying and comprehending the industry can help to lower
marketing dangers.
iii) It enables the company to take advantage of market opportunities fast.
iv) It guarantees efficient marketing, which guarantees the accomplishment of organisational
objectives.
By exchanging goods and services, the exchange notion satisfies wants.
The production concept is useful in two situations:-

1. When management seeks to boost production because demand for a product is higher than
supply.

2. When a product is costly.

(Improved productivity can cut costs - To enlarge the market for automobiles, the idea of
higher output and cheaper prices is used.) Many Japanese businesses reduce their pricing and
increase their market share.

Organizations that adhere to the product philosophy focus on producing superior products.
They don't spend much time studying the consumer and the market.

Benefits of marketing concepts:-

1. Increased employment opportunities

A company will need to hire additional personnel as it expands as a result of gaining

clients who choose it because its expert services meet their needs.

2. Awareness and acknowledge of consumer and social well-being

Consumer success translates into success for society as a whole. A company can
ensure that this is the case by giving priority to needs that are not related to the
services that it can provide to its customers and by optimising production and
operations.

3. Focus on the scientific frame of thought

A firm must be founded not just on market research but also on scientific study if it is
to strategically discover a way to benefit society as a whole.
 4. Increased quality of production
Knowing what the consumer needs can allow for a business to mold their products in
the production process to meet expectations, thus increasing the quality of what they
have to offer.

5. The reason for business operations

What good is it to run a company and provide goods and services if it has no idea
what customers want or need?

They are unable to comprehend what the customers' true needs are. General Motors now asks
customers what they value most in a car after realising these negatives. As a result, they
integrate "marketing" into the design process itself.

The selling concept is practiced most aggressively in the following situations:-

i. Typically, buyers don't consider purchasing (insurance, college admission, candidature for
election, and so on).

ii. Businesses are overcapitalized. They want to sell the products they produce.

Markets are competitive buyer markets where sellers compete for clients. TV commercials,
print ads, direct mail, and sales calls annoy potential customers.

The social marketing idea encourages businesspeople to incorporate moral and social factors
into their marketing strategies. Studying LIC's mission, which is to "promote life insurance
widely and in particular to the rural areas and to the socially and economically deprived
groups with a view to providing them with enough Financial cover," will help you understand
the social marketing philosophy behind LIC.
 Assignment Set – 2

Ans1: Determinants of consumer behaviour

Consumer behaviour is a complicated area of study since it has many variable components.
Human behaviour is influenced by both an individual's intrinsic traits and the demands of
their environment. Similar to this, a variety of intrinsic and external factors influence
customer behaviour.

The following broad categories can be used to group the elements that influence consumer
behaviour:
 Personal determinants
 Socio-cultural determinants
 Psychological determinants
We will now study each of these determinants in detail.

Personal determinants

There are two main personal factors which influence an individual consumer, as follows:
a. Consumer demographics – These are the factors such as age, education level, income
group, economic capacity, etc, which determine the buying behaviour of consumers. For
example, a consumer from a lower class may buy unbranded products which are low-priced,
while a middle class or upper class consumer may buy branded products with a better quality
and increased price.

b. Consumer psychographics–These elements—attitude, values, way of life, self-perception,

status, and prestige—have an effect on consumers' purchasing decisions. Although the
demographic profiles of the consumers may be the same or quite similar, there may be a
significant difference in the psychographic profiles, which affect the purchasing decisions.
Customers with comparable demographics could, for instance, desire to dress differently and
pay various costs for clothing.

Socio-cultural determinants The socio-cultural factors which determine buyer behaviour can
be classified as follows –
a. Social factors – According to the proverb "No man is an island," people cannot exist in
society alone. Every person participates in society activities in a specific way and is also
influenced by social elements. The social groupings a someone interacts with have an impact
on their consumption habits.

Intimate groups (families, friends, peers, etc.), secondary groups (groups based on occupation,
domicile, professional bodies, etc.), and society are the three categories of social groups that
make up a consumer (this is the larger social tier or group to which the individual belongs).
Every social group has a tendency to have an impact on how consumers think and act. For
instance, if all of his classmates are switching to sedan models, the buyer might wish to
update his tiny automobile to a sedan.

b. Cultural factors – The term "culture" refers to the predetermined standards of behaviour
that people are taught from an early age. The food, clothing, neighbourhood, and practises of
an individual are influenced by their culture. A person's culture follows them from birth to
death. As a result, culture has a big impact on how people behave in social situations and
make purchases. For instance, the holidays that must be observed depend on a person's
religion. Only during the times of such events is the consumer permitted to shop for new
clothing.

c. Environmental factors – The buyer is exposed to intensive product promotion and

advertising in the contemporary age of information overload through a variety of media,
including television, the internet, etc. Due to the organisations' significant marketing
activities, the consumer is persuaded to purchase a product. Initial reductions, eye-catching
window displays, free trials, and the distribution of samples all work to persuade customers to
acquire the product. As a result, environmental influences strongly influence consumer
behaviour.

Psychological determinants In addition to physical elements, there are certain psychological

aspects that affect purchasing choices. Thinkers like Freud and Maslow have examined the
fundamental human needs that underlie typical behaviour and have studied the psychological
dimensions of behaviour. Let's now examine the psychological variables that influence
consumer behaviour.
a. Perception – The buyer assimilates the information that is provided to him from many
sources via this procedure. The purchaser then develops a viewpoint on the item or concept
based on the information provided. Each person has their own unique perspective on a given
scenario. Diverse people have different perceptions of the same thing. A positive impression
of the product encourages the customer to buy it.

b. Learning – When people discover new things, they often review their existing beliefs and
ideologies in order to absorb the new knowledge. Constant advertising can be used to force
the consumer to learn new concepts. Marketing managers can improve customer product
knowledge by using strategies for positive reinforcement.

c. Memory – The product is more deeply ingrained in the thoughts of consumers thanks to
brand presence and ongoing reinforcement through marketing communication and
advertising. This improves brand recall, which is important for influencing consumers'
purchasing decisions.

d. Motivation – The needs that a buyer has become aware of are referred to as their motives.
When a buyer is aware of such needs, they get motivated to fulfil their objectives or motives.
An successful marketing manager is able to convince customers that they need the goods. As
a result, the buyer decides to purchase the product.

e. Attitudes – Attitudes play a significant role in the purchasing decisions. The impression of
a product or an organisation may lead to the development of an attitude, which may be
favourable or negative. Other external factors may also contribute to the development of
attitude. For instance, even if a product is well-liked and of high quality, a consumer may
change his opinion of it if he learns that it was made in a nation he dislikes.

Ans2 : Various methods by which an organisation can enhance relationship with

customers:

a) The organisation can win the trust of current clients.

b) The organisation must guarantee prominent presence in the eyes of the client.
c) Customers may receive freebies or discounts in exchange for making a purchase. d) Road
shows, trade shows, or participation in expos, in addition to conventional marketing channels
of advertisement, increase brand visibility.
d) Higher rewards for customer relationship management and delighting customers might be
given to employees.

Their motivation to assist with consumer demands is increased as a result. It is possible to

alter the organisational culture to include the principles of good customer service. Today's
highly competitive climate makes it crucial for businesses to maintain positive customer
connections in order to boost their bottom line. For the organisation to see more business
success, it is crucial to concentrate on enhancing current customer relationships.

Significance of Relationship Marketing:-

Their desire to assist with client demands is subsequently increased. To incorporate the
principles of good customer service, the organisational culture might be altered. To boost the
bottom line of the business in the current, fiercely competitive market, it is crucial for
organisations to make sure that good customer connections are maintained. In order to
increase the benefits to its business, it is crucial for the organisation to concentrate on
enhancing current customer relationships.

Following are the various reasons for which relationship marketing has evolved as an
essential part of any business:

Importance of Relationship Marketing

 Increase in sales volume

 Low Advertisement cost

 High Profit Better Price

 Creates Brand Image

 Customer Retention

 Gain a Competitive Edge

 Increase in Sales Volume: A better customer experience is making it simple to cross-sell
and upsell products or services to happy clients. In the end, this boosts sales volume.
 Low Advertisement Cost: Since it assists in maintaining clients over the long term,
relationship marketing successfully reduces the efforts on customer acquisition. lowering
the cost of advertising.
 High-Profit Better Price: A happy consumer is less likely to haggle over costs and is
willing to pay a fair price for the products or services. The seller's profit margin is
boosted by this.
 Creates Brand Image: A satisfied consumer will recommend the good or service to their
friends, family, and acquaintances. This positive word-of-mouth develops a solid brand
image for the company.
 Customer Retention: Getting new clients is important, but it's not everything. You also
need to satisfy their requirements, give them value, and encourage repeat business. The
use of customer relationship marketing makes all of this possible.
 Gain a Competitive Edge: Instead of shopping around at multiple locations, a devoted
consumer feels comfortable purchasing goods or services from a single establishment.
The company has an edge over its rivals because to this.

Ans3: Developing an integrated promotion mix:-

The "marketing mix" is used in marketing initiatives. One component of the marketing mix is
promotion. Advertising (via the use of various media), sales promotion (sales and trades
promotion), and personal selling operations are all examples of integrated promotional
activities. Public relations, direct marketing, database marketing, sponsorship marketing, and
Internet marketing are also included. A technique to outperform a rival is to integrate all of
these promotional tools with other marketing mix elements. Integrated marketing
communication mix and integrated promotion mix are two other names for the same concept.
How to Create an Integrated Promotional Mix: An integrated marketing communication plan
evaluates all of the communication channels that can potentially engage with a target
audience and concludes which ones, in what order, are most likely to be effective.

Establishing a clear purpose and quantifiable objectives, comprehending the target audience's
needs and preferences, weighing the benefits and drawbacks of various communication
options, and choosing and implementing communication strategies are the processes in
constructing this strategy.
i) Establishing a Clear Goal and Measurable Objectives In order to create an integrated
marketing communication plan, you must first identify your aim and any associated
objectives. A goal is a broad declaration of a desired outcome, such as "grow to be the market
share leader in our major market region." Goals are related to objectives, which add greater
precision in the form of quantifiable results within a predetermined time range. For instance,
"By the end of the year, increase market share by 30% in the young market." Your
subsequent communication activities will follow the framework and direction established by
the goal and goals.

ii) Understanding the Target Audience Regarding the overall target population that you
will be seeking to influence, your goal and objectives will help you get started. However, you
must be more specific in defining your target market.

than "women between the ages of 25 and 55" in this instance to guarantee your ability to
successfully persuade a buying decision. You will be better able to choose the appropriate
communication channels and develop the appropriate messages to convey through them the
more you are able to understand about the requirements and preferences of your target market.

iii) Evaluating Communication Options Today's marketers are lucky to have a wide range
of channels for reaching their target audiences. But from the perspective of having to sort
through all the choices and choose the best combination to maximise efficiency and cut costs,
this can also be terrible. The first step is to take into account all of the communication
avenues that can potentially reach the target audience you have chosen.

This could apply to both new and conventional media, such as television, newspapers, and
radio (social networking sites, blogs, mobile messaging). There isn't a single combination of
choices that will satisfy everyone. You may put together a persuasive argument by carefully
evaluating your audience, the communication channels most likely to reach them, and the
benefits and drawbacks of each.

iv) Implementing Communication Tactics An integrated marketing campaign's design,

planning, and execution of communication methods is a key success factor. Marketers should
think about how, when, and where to reach their consumers as well as the best strategies to
employ and how frequently. The purpose should be to communicate with the target audience
as frequently as possible with messages that will stick in their minds. This will ensure that the
messages are not only noticed but also inspire action that will help the plan's objectives and
goal to be realised.