Topics: Marketing, Sales, Product management Pages: 6 (1198 words) Published: May 19, 2013
Master of Business Administration- MBA Semester 2
MB0046 –Marketing Management - 4 Credits
(Book ID: B 1629)
Assignment Set -1 (60 marks)
Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.

Q1. Explain the stages in the new product development process. 10 marks (350-400 words)

Many companies follow different types of new product development system. The standard new product development system is:
Concept generation and market structure identification
Advertising development Product formulation and testing
Testing the product Commercialization and final launch
STAGE 1 introduction
STAGE 2 Growths
STAGE 3 maturities
STAGE 4 Declines

The different levels of products are core layer, basic product layer, expected product layer, augmented product layer, and potential product layer. •The classification of products is durability and tangibility, consumer goods, and industrial goods. •The seven levels of product hierarchy are need family, product family, product class, product line, product type, brand, and item. •A product line is a group of products for essentially similar use, and technical and marketing considerations. •The four ways in which product mix can be adjusted to achieve organizational goals are market penetration, market development, product development, and diversification. •A package may have three levels. They are primary, secondary, and shipping. Labeling is closely related to packaging and is used in many different informational, legal, and promotional ways

Q2. Explain the steps in Marketing Research Process 10 marks (350-400 words)

The process of marketing research involves the following steps: •Identifying the marketing problem
•Developing marketing research plan
•Designing marketing research strategy
•Collection of data
•Analysis of collected data
•Preparation of report

The advantages of Marketing Research are:
It is used to measure market potential, characteristics, and share of markets for a particular brand or company. It helps in obtaining information that could lead to the formulation of short and long-range forecasts. It helps in taking better advertising decisions

The limitations of Marketing Research are:
Although marketing research uses techniques of science, it is not exact science. The results obtained are not accurate as compared to physical and chemical sciences. Political, legal, technological, and social variables are uncontrollable from the standpoint of the individual marketing decision maker. Consumers, dealers, wholesalers, retailers, etc., are the basic constituent’s entities on whom marketing research is carried out.

Q3. Write short notes on:
A.Marketing Plan
B. Marketing Planning process

Marketing planning for an organization is planning for that organization’s revenue-earning activities. Marketing plan is a written document that specifies the required actions to attain one or more marketing objectives. Some of the elements of a marketing plan are:

Marketing planning
Missing statement
Market overview
Market assumptions
Marketing action plans Marketing objectives and goals

Marketing Planning process
The marketing planning process must begin by setting the corporate objectives and should be followed by strategies and plans for each function. The five steps in marketing planning process are:

Deciding the marketing objectives
Designing the marketing system
Developing strategies or separate functions
Developing detailed plans
Merging marketing plan into organizational plans

Q4. Describe the international market entry strategies in brief 10 marks

There are two methods to entry into foreign markets. They are indirect exporting and direct exporting. •In indirect exporting, the manufacturers take the help of merchant exporters to get products exported to foreign markets. •In direct exporting, the manufacturers decide to export themselves. •There are two specific...
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