M.Com DCM 6203 MARKETING MANAGEMENT

Description

SESSION	APRIL 2023
PROGRAM	Master of Commerce
SEMESTER	II
course CODE & NAME	DCM6203 Marketing Management
CREDITS	4

 

Set – 1

1. Define Marketing? Explain any two concepts of the marketing

Ans: Market segmentation is beneficial for the increase in business volume for any organisation. Thus, it is important to ensure that both product and pricing are pegged for the correct segment of customers. This ensures that the product succeeds and builds a reputation for itself in the minds of the consumer.

Marketing can be defined as the process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. It involves understanding Its Half solved only

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2. 
   Discuss and elaborate the drawbacks of marketing information system

Ans: While marketing information systems (MIS) provide valuable data and insights to support decision-making in marketing, they also have some drawbacks and limitations.

Here are some drawbacks of marketing information systems: 

Cost and resource-intensive: Implementing and maintaining a comprehensive marketing information system can be costly and resource-intensive for organizations. It requires investments in technology

 

 

3. Explain the stages of ‘Product Life Cycle’.

Ans:Every product move through a life cycle, having five phases and they are:

1) Introduction

2) Growth

3) Maturity

4) Saturation

5) Decline

1) Introduction: This is the first stage in the life of a product. The initial stage needs greater amount for investment. In this stage, the product is introduced into the market and made available to the customers with a slow rise in sales. The profit may be low, because of heavy advertising and sales promotion in order to stimulate the demand.

2) Growth: In this stage, a product gains acceptance from consumers and businessmen. Sales of the product increases and so does the profit. This is the stage where competitors appear along with

 

Set – 2

1. What is consumer behaviour? Discuss the factors affecting consumer behaviour

Ans: Consumer behaviour refers to the study of individuals, groups, or organizations and the processes they undertake to select, purchase, use, and dispose of products, services, ideas, or experiences to satisfy their needs and wants. It encompasses the psychological, social, and cultural factors that influence consumer decision-making.

Several factors ca

 

2. What is CRM? Explain the ways of CRM

Ans: Customer Relationship Management (CRM) essentially is a business strategy that has is developed around the customer. Being customer-centric, its modus operandi is to maximize revenue by developing valuable long-lasting relationships with customers by improving interactions at each touch point. Dependent on a better understanding of customers, their buying patterns and demographics etc. companies can provide better services. Apart from this, CRM is applicable to those who hold the potential to become good customers. In other

 

3. Explain the techniques of sales promotion

Ans: Sales promotion refers to the set of marketing activities aimed at stimulating sales and generating immediate customer interest and action. It involves offering incentives, discounts, or other promotional tactics to encourage customers to make a purchase or take a specific action.

Here are