Advanced Marketing course (MBA)

research I Explain the concepts of harvest atmosphere width, length, depth, and consistency. Use instances to support your answer. A increase commix is a collection of a large variety of fruit lines. A product line is a multitude of items or products closely related and lie indoors a product class as the functions coiffeed by them be similar, have the same group of clients, range within the given price or ar advertised and marketed by the same points or outlets. Every political partys product mix encompasses certain width, depth, consistency and length. production width Refers to the physique of diametric product lines carried by the comp either. For e. g. Unilever deals with food tick offs, rest home care and individualized care products indeed it offers a product mix width of 3 lines. Product length The total number of different items or products in a champion product line refers to the product length for e. g. if we organize food brands of Unilever thence B est foods, Knorr, Birds Eye, Lipton and Ben & Jerrys ties the product length of the limited product line of food brands. Product depth The variants of each product in a product line refers to the product depth for e. . if we take Lipton, it comes in two formulations loose powder afternoon tea and tea bags as well as it also comes in different types such black tea, green tea and herbal tea, so this would mean that Lipton has a depth of 5, as it branches out in 5 different variants. Product consistency How closely the different product lines are related to each weaken in use, requirements, production , short letters and scattering or some other possible itinerary for e. g. If we take Unilever then their advanceds are consistent in a way that all of their goods are consumer durable and are distributed through and through the same channel.Similarly they are less consistent as each of their goods serves different buyers and also perform different functions for them. Question I I In imagening its market offering, the marketer must address the phoebe bird dollar bill product speaks of the customer value hierarchy. Describe the customer value hierarchy and identify the five levels of product contained within. Customer value hierarchy is an approach of viewing customer value. It is in a hierarchical mission telling us about how the customer relates and views a product.The customer value hierarchy is pyramid regulate with its base comprising of the basic customer value followed by the expected, unanticipated and desired levels. The five levels of product contained within it are as follows Core benefit This is the basic level. It actually refers to the benefit or the inspection and repair the customer wants to have out the product he buys. Benefit providers, is how a marketer must see himself. staple fibre product This is the next important level where the core benefit is converted into a basic product by the marketer.Expected product The third importa nt level where an expected product is created by the marketer. By expected product we mean a set of conditions or attributes expected by the buyer when he purchases the product. Augmented product In this level such a product is created by the marketer which is distant beyond the expectations of the customer and is referred as an augmented product. Brand positioning and competitions usually starts from this level in true countries where as in stupefying countries like India competition starts from expected product level.Potential product This level comprises of all the possible changing or augmentations the product expresss to face in future. New ways of fit customers and distinguishing the product and its offering starts from this level. Question III Explain the concept of a hyb resign channel distribution schema. When would this system be exceed utilized? When would this system non be beneficial? Hybrid channel distribution is when a marketer utilizes more than bingle or a multi channel distribution design. It is mavin of the most widely used and important channel distribution systems among the vertical swap net run away.A single firm lavatory easily cater multiple merchandising segments by setting up two or as many market channels using hybrid channel distribution system. Firms loosely establish a hybrid system as multiple targets and segments rump be approached. If we take the example of star bucks well notice that it follows many distribution designs as they use direct retail system by selling to the stores owned by the company, selling through grocery stores following a single troupe selling system and also via direct mail following the direct marketing system. Also other distribution systems are utilized by the company.Hybrid channel distribution system works the best when a company serves a wider market and also the marketer knows what system suits the best to its customer way of doing the business. The Hybrid channel communication syst em carries a lot of potential for channel conflict, therefore in the case of conflicts this multi channel system does prove to be that beneficial as it may result in improper channel utilization and blocking probabilities. Question IV In designing a marketing channel system, the marketer must understand the service output levels desired by target customers. take provide five service outputs. List and briefly describe each of these outputs. In developing marketing channel systems, needs of the customers are analyzed, objectives of the channel are established and major channel alternatives are evaluated. The five service outputs produced by the channels are Lot size The quantity of items possible for the channel to make available to a customer on one occasion. For e. g. a wholesaler will unendingly pick out a channel that clear supply him a large lot size of units. Waiting and gross gross sales talk era The time taken by the channel to deliver goods to the customers.A customer normally does not like waiting a lot for receiving the goods and prefer a faster system. Spatial convenience The period to which the channel makes it convenient for its customers to receive the product. For e. g. if we consider TCS then well notice that it has more offices situated in every(prenominal) area nearby and customers save a lot on transportation as compared to OCS which has less offices and dealers, therefore TCS offers more spatial convenience as compared to OCS. Product variety The variety or the assortment bigness of the product that the channel offers to its customers.More variety is preferred by the customers as it increases their chance of finding what they are looking for or fifty-fifty better than that. Service backup Any add on function that the channel provides to its customers such as delivery, installation, repair facilities etc. How good the service backup is, determines how good the channel performs. An increase in the channel cost also takes gear up for the customers in the case of greater service backup. Question V The extraordinary growth of direct marketing can be attributed to many factors with both(prenominal) consumers and business are benefiting.List some of the factors that are contributing to the growth of direct marketing. Many factors are involved in the growth of direct marketing. The few most prominent ones are Changing lifestyles is one of the most important factors that have made the customers accepted direct marketing. In these few days the number of women entering the workforce has increased tremendously. This trend contributed a lot to the growth of direct marketing as it became very inconvenient for working women to take time out and go for shopping.They could simply sit at home and select the merchandise of their choice and convenience through mail- ramble shopping and receive all kinds of merchandise at their home only via commercial television, mail, interactive television or via home shopping networks. The bit most important factor that has increased the growth of direct marketing was the increase that has taken place in the cost of personal sales calls which has risen tremendously in the past few years making personal sale calls very expensive.Direct marketing methods have now made personal selling more cost effective. some other factor that has contributed a lot to the growth of direct marketing is technological growth such as computer based technologies. These technologies have enabled the marketers to be more dead on target in the analysis of results, in creating advanced and better customer and prospect databases, better targeting of messages regarding complex demographics and psychographics and even in faster and better execution of packages by direct-mail.Another important factor that has made direct marketing more attractive than mass marketing is the quantity of available product and services has across-the-boardy grown as through direct marketing a greater variety and number of products and services can be offered to a smaller group of prospects. Due to an increase in the use of telephones as a means to order has also helped direct marketing to grow and prosper as placing an order through a telephone results in faster order fulfillment and also makes the customer get rid of any delays connected with the mail order system.Question VI Most companies set annual quotas. Quotas can be on dollar sales, unit volume, and margin, selling effort or activity and product type. requital is often tied to the degree of quota attainment. What jobs does the setting of quotas present to both the company and to the sales representative? gross sales quotas are set by a lot of companies to encourage and provide incentives to the sales representatives in order to meet their daily challenges and also to motivate them to work more effectively bringing out good results for the company.First a sales forecast is created by the company which becomes the basis of plan ning production, financial requirements and workforce size but the sales quotas create a lot of problems for the sales representatives and the company. Problems cause the company or the sale representative to suffer a lot for e. g. when the company underestimates and the sale representative is already bother then the company has over paid them. Similarly when the company overestimates the potential of the sales, it gets very hard for the sales representatives to match up to their quotas and eventually they get frustrated leading them to even quit at times.Another disadvantage is that often quotas ignore the service side of the business as it usually enables the sales representatives to get a lot of business. Another problem is that only short term results are gained by the company though providing customer satisfaction for a very long term. Due to all these problems faced by the company and the sale representatives most companies have dropped quotas and are adopting other systemati c and proper means of attracting sales representatives to work at their best. Question VII The new product development process starts with the search for ideas.New-product ideas can come from interacting with various groups and using creativity-generating techniques. List these techniques. New innovative product ideas can be created every by interacting with other people such as your own customers and getting their ideas or also by using creativity generating techniques for developing and enhancing creativity in individuals working for the company. These techniques are as follows Attribute list In this technique each attribute of a product is listed and then modification is done to it. For e. g. f we take milk box, we can modify it by regenerate the paper box by a glass bottle then it is painted differently and the cap is replaced by a cork etc. Forced relationships Several ideas are listed then each idea is considered in relation to other ideas. For e. g. in designing a bed room, you consider a bed and a sofa as separate ideas. whence you think of getting a sofa bed that can serve both the purposes. morphological analysis It refers to listing every possible combination for creating many innovative solutions. For e. g. we take a problem like getting something cooked.First think of the dimensions such as how well cooked like half cooked, full cooked or baked. Then think of the possible mediums such as stove, on fire or oven and the queen source such as electric oven, gas over or electric stove. Reverse surmisal analysis This is done by noting down all the assumptions and the possibilities about an entity and then reversing them. For e. g. lets take a photographic film that plays a movie of the audience choice, charges for the movie and provide snacks. Now if we apply the check assumption analysis we will reverse every assumption.The cinema will now show any movie that the owner gets charges not for the movie but for sitting as long in the cinema and inst ead of snacks offers fast food. New contexts Consider a familiar process and re-design it into a new context. For e. g. replacing people-helping services with animals such as cats and dogs. Mind mapping Start with a thought such as food, note it down. Then note down the next thought that comes into your mind such as pizza. Then link both the thoughts that are food and pizza and think of the next association that will be Italy.Associate a new thought with every other word that comes up. Doing this might lead to a whole new idea. Question VIII Explain the product or brand management governing body and list its advantages and disadvantages. Only a company that produces different variety of products or the production capacity is beyond the ability or control of the in operation(p) organization establishes a product management organization. It however has some other form of management but doesnt replace the functional organization. A product category motorbus is under the supervision of a product managing director.A product category manager manages and supervises specific brand and product managers. Product and brand management is sometime referred to as hub and spoke system with the brand manager in the center and managing various departments. The brand managers develop competitive strategies for the product, think of an annual marketing plan and predict sales, initiates improvements in the product to meet the changing needs of the market and also continuously work with advertising agencies for the promotion of their product. Advantages of product or brand managementA product manager always develops a cost-effective marketing mix A product manager always ends up reacting right away to new and innovative products. Smaller brands produced by the company get a product advocate. Disadvantages of product or brand management Lack of authority to product and brand managers in carrying out their responsibilities. Lack of functional expertise as they are only experts in their own product areas. High costs associated with the system as every major product or brand requires an individual to manage it.Even barbarian products and brands are catered by different individuals. Brands are usually managed by the brand managers for a short time which leads to short term planning and fails in developing long term strengths. Its harder for the management to develop a national strategy due to the fragmentation of the markets. Product and brand managers are more concentrate towards gaining the market share for the company rather than developing healthy customer relationships.