NAME = BISWAJIT DAM
ROLL NO = 2314504939
PROGRAM = MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER = II
COURSE NAME = MARKETING MANAGEMENT
COURSE CODE = DMBA203
ASSIGNMENT SET-I
Ans1: The Definition Marketing:
The marketing is the complex theory which created with process of communication,
addressing and exchanging which presenting the values of consumers, clients and society
level. It included to deeply understanding the needs of the consumers and create a products
and services which can meet those needs and encourage those offering to the goal market.
Marketing is all about forming value and make a strong consumers bond not about just
selling products and services.
Scope of Marketing: The marketing is very huge and effective surrounding with the many
actions and processes which marked to achieve the organizational goals. There are some
points of marketing scopes like:
Market Analysis: This included with collection, observation and get the information about
the whole market, consumers demand, challengers and other similar factors. Market analysis
support organizations to deeply understand about the consumer’s needs, consumer choices
and their behaviour which mostly helps in creating marketing decision.
Product Improvement: The marketing performs important roles in product improvement by
determine the market opportunities, research and analysis new products and services and
make sure before lunch in market. It also included to analysis product configuration, product
price, packaging and strategies.
Brand Value: Create a strong brand value is very important for longstanding success in the
market. Marketing actions like branding, advertising and make promotion which helps to
create brand information, create brand image and make different products from challengers.
Advertising and Branding: All organizations have an aimed to adverting and branding their
products and services which helps to impacts target consumers to make purchase a product
and services. Advertising engaged paid, impersonal communication with many media
channels which make branding and promotion involves sales promotion, direct marketing and
public relation.
Distribution Network: The marketing involves to established the most successful
distribution networks to reach target consumers. This creates outcomes regarding logistics
distribution, alliance partners, and retails strategies.
Pricing Policy: Marketing performs an important role in regulate the pricing of products and
services. All organizations have a pricing policy about their products and services such as
competitive pricing, premium pricing which are used to maximize the profit and
accomplished sales targets.
Digital Marketing: The arrival of the digital technologies, marketing has grown to involved
online platform such as social media, email, website. Digital marketing action involved social
media marketing, SEO search engine optimization and online advertising.
The marketing always involves in all the company list which to make better understand the
relationship between the consumers and company products and services. It makes to
converting buyers into real consumers through communicating and share details information
of the product and services to the consumers.
Ans2: Marketing Information System (MIS)
The Marketing Information System (MIS) is a organize method which used to collecting,
gathering, researching and distribution information associated with marketing regulating. It
involved equipment, people and strategy to collect, design estimate and distribute needed
with the real information and timing to marketing regulating. It generally like a process of
collection of data and analysis the whole market situation where to optimize marketing policy
and plan. It allows the organizations to deeply understand the consumers needs or choices to
track their data and consumers reaction about the product and services. MIS are used to
assess the recent position of the company products and services in manner of it brand
identification and market share. It helps the organizations to deeply understanding about
differences of their products and services with stand to the competition market.
The Disadvantages of Marketing Information System:
1: Expensive to Execute and Conserve: The MIS is the expensive to execute and maintain
mostly for the small scale of businesses where they have restricted resources. The
requirements which need in the MIS is very costly included hardware, software and training
for the use of MIS. The business which are limited resources cannot maintain the MIS in their
business.
2: Difficulty: The MIS can be difficult expected to the huge volume of data included which
need the specific software and the skilful need to control and research the data effectively.
Gathering the data and arranging the data in the MIS is the complex for the organization, so
the expertise who have a knowledge in the MIS are reported to the do this for the
organizations.
3: Data Safety Worry: The rapidly increasing dependence on the digital data, there must be
a worry about the data safety and privacy where the information stored in a MIS. Data
violation and cyber attack are highly risk for the MIS. Organizations always concern about
the data to be stored safely in the MIS, so the expertise about the MIS get hired by the
organization to avoid any risk regarding the data violation and breach.
4: Mostly Reliance on Technologies: The MIS is mostly reliance on the technology. MIS
need to be updated on the technology. Any failure of the technologies like malfunctions or
data breach, software problem can highly compromise the whole system and can hamper the
decision making of the organizations.
5: Absences of Flexibility: The designed and structure of the MIS are mostly based on the
prearrange standard. These absences of flexibility which can create difficult to redesign
changing business environment and expand information required.
Ans3: The internal factors which affecting a business are mostly emerge inside the
organization and where the organization control it. Such elements can fundamentally affect
the business operation, performance and organization success. Such internal factors are
important for making strategic planning and management.
Some of the key internal factors which impact a business are:
Management: A successful management is important for the success of any business. It
included in planning, organizing, leading and controlling of the organization resources in the
order to achieve it goal and objective. Unsuccessful or poor management can create
incapability, decrease moral and absence of direction. But an effective management can lead
organization with innovation, development and gainful.
Human Resource: In the organization the employees are important internal factor for
affecting business development. A well skilled, enthusiastic and committed workforce can
create higher productivity, more output and customer satisfaction. But on the other side like
higher turnover, lack of moral or lack of training can affect business development.
Organizational Aesthetic: The aesthetic of the organization envelops it values, standard,
beliefs and practices. A positive aesthetic that leads with the innovation, development and
moral behaviour can increase employee commitment and organizational performance. On
other side negative aesthetic can affect organization and slowdown business growth.
Financial Resources: Sufficient financial resources are important for any business enterprise
and development. It is involved with capital for the investment, operating capital for day-to-
day expenses and financial backup for unexpected events. Lack of financial management like
cash flow problem or more debt can threaten business development.
Marketing and Sales: An effective strategic of marketing and sales can lead business more
revenue creating and attracting customer. There are some factors like branding, pricing,
supply chain and customer services can mostly impact on the sales performance and market
share.
Research and Development (R&D): In today ambitious market innovation is the key to
staying long-time in business environment. Invest in R&D cam create the development of
new products and services with the requirement of customer demand and make differ the
business from competitors.
Physical Resources: In the business the physical resources like tangible assets such as
equipment, modern technologies and more facilities. The possibility and availability of
resources can lead operational productivity and ability to fulfilled customer demand.
Effective maintenance and investment in modern technologies can developed business
stability.
Joint Governance: All organization have system of rules, practices and processes by which
organization are mostly controlled and directed it this called joint governance. An effective
joint governance helps to assure clarity, accountability and aesthetic behaviour within
organization which is important for making trust with top management and stakeholders.
ASSIGNMENT SET-II
Ans1: Porter’s Five Forces Model
The Porter’s Five Model was developed by Michael Porter which is a tactical framework and
used to study the competitive environment of an industry. It helps to understand the
profitability of an industry by checking five key forces that created competition within it.
These forces involved the risk of new competition, the bargaining power of buyers, the
bargaining power of suppliers, risk of the substitute products and services and strength of
rivalry.
1: Threat of New Competition: This force recognizes how easy or difficult it is for new
competitors to enter in the market. There are factors like economic of scale, capital
requirement, entry to supply chain, government policies and brand loyalty which play
important role. Industries with huge obstacle to entry like pharma industry are less risk for
new competitors.
2: Bargaining Power of Buyers: The buyer power attribute to the ability of customer to
control the price and terms of purchase. The factors the affecting the buyer’s power like the
number of large buyers, large number of buyers orders, every buyer is the important in the
industry and the availability of large substitute products in the market. The example like
airline industry where the buyers have the finite power due to the high cost of ticket and
limited airlines numbers.
3: Bargaining Power of Suppliers: The supplier power is the ability of suppliers to
dominate the price and terms of supply. The factors that affecting the supplier’s power like
the large number of the suppliers in the market, distinctiveness of their products or services,
the availability of the alternative inputs, and the importance of the suppliers to the industry.
There are some industries where the supplier power is very high and it’s the key component
of the suppliers in the market like automobile industry.
4: Threat of Substitute Products or Services: The threat of substitute recognizes the
availability of substitute product or services that can likely meet the same needs as the
industry offerings. The factors that recognize the threat involved the accessibility of
substitute, the large number of quality and price, the alternative costs of the buyers. In the
industry of soft drink where the threat of substitute products is huge and consumers can easily
choice the alternative to another beverage.
5: Strength of Competitive Rivalry: This force showing that the level of the competition
within existing firms in the industry. The factors like numbers of the competitors, industry
development rate, variation of the products and exit blocks affect the strength of the rivalry.
The industries with large number of rivalries like smartphone industry frequently experience
price wars and implement aggressive marketing strategics.
Ans2: Pricing: Pricing is the important factor of the marketing that included with the value
of a product or services and maintaining pricing that customer is very much willing to pay
although assuring profitability for the company. Pricing is like a planned decision that
impacted by many internal and external factors containing production cost, competition,
market demand and customer perception of value.
Forms of Pricing:
1: Cost Plus Pricing: Cost Plus pricing is very much common method where a margin will
add to the cost of the production to resolved the selling price. It assured that all costs are
covered and deliver a stable profit margin.
2: Value Based Pricing: This method reflected the recognized the value of the product or
services to the customer. It points on understanding customer needs and priority and pricing
according to capture the value created for the customers.
3: Competitive Pricing: This method is about the price which are set situated on competitors
pricing planning. It included pricing at, above or below the competitive pricing recognize
factor like product separation and market place.
4: Price Skimming: This planning included setting a high introductory pricing to target quick
adopters and consumers are willing to pay a high price or premium price. The price is
constantly lowered to gathered more price willing pay customers.
5: Penetration Pricing: The penetrate pricing is the opposite of price skimming which
involves with setting a low entry price to fast penetrate the market and earn huge market
share. Price can be enhancing later once a consumer base is set.
6: Promotional Pricing: The promotional pricing offering the short-term discounts or special
offers to restoring sales. It used to clear huge inventory, gathered new customers or increase
sales during off session periods.
7: Effective Pricing: The effective pricing is also known as demand-based pricing. This
approach to adjusting the price in real time based on demand, competitor pricing and other
market situation. It is mostly related with the industries like airline and hospitality.
8: Bundle Pricing: The bundle pricing planning included to selling many products or
services together like a package at a lowest price than if each item purchased differently. It
can enhance the recognize value for consumers and make them willing to buy more products.
9: Add-On Pricing: The add-on pricing included offering optional features or add-ons for an
extra price. It permitted the customers to modify their purchase based on their needs and
budgets.
10: Charm Pricing: This pricing also known as psychological pricing which strategy allows
the psychological factors that impact buying decision, like pricing product Rs99 rather Rs100
to make the awareness of a lower price.
Ans3: Selecting the right distribution channel is important for any business as it straight
effect the reach and availability of its products or services to customers. There are many
factors which need to understand while considered to choosing a distribution channel like:
1: Product Characteristics: The product which nature are vulnerable, fragility and difficulty
can impact the choice of the distribution channel. Example decomposable goods may require
a shorter and more straight distribution channel to assure freshness while difficulty products
may benefit from the distribution channel which offers customers support and information.
2: Market Characteristics: It is very important to understand the target market choices,
behaviour and area dispel in the business. Example if the target market is separated across
many regions a distribution channel which gives wide area coverage such as network of the
wholesalers and retailers will be suitable.
3: Competitive Environment: Understanding the competition and their distribution planning
may gives insights to the most essential distribution channel. It is very important to identify
gaps in the market that may be utilized through only distribution approach.
4: Cost Consideration: Distribution channel included costs such as transportation, storage
and channel partner margins. Estimate this cost and make differences them with the expected
benefits is important. Occasionally an expensive distribution channel may be justified if it
gives more advantage in terms of reach or customer services.
5: Channel Length: The number of meditators included in the distribution channel known as
the channel length can affect regulation and control. A longer channel with many meditators
can gives wider coverage but also shows higher costs and reduced control over the
distribution process.
6: Channel Flexibility: It is very important to adopt the ability of the distribution channel to
changing market conditions and customer choices. A variable channel can fast adjust to new
products giving or changing in distribution planning.
7: Legal and Regulatory Factor: Compliance with law and regulation always related with
the distribution which is very important. This involved features such as product safety
standards, import and export regulations, and law of competition which may affect the choice
of distribution channel.
8: Channel Partner Aspect: The ability and frame of capability channel partners such as
wholesalers, retailers or distribution should be appraised. Choosing partners with strong
market presences and a good frame record can increase the success of the distribution
channel.
9: Customer Service Requirement: It is very important to understand the level of the
customer service expectation by customer. A distribution channel needs to improve their
delivery timely, product support and fast return which can increase customer satisfaction and
loyalty.
10: Long- Term Planning: The distribution channel always lines up with the long-term
planning goal of the business. This involved to appraised such as future growth plans, entry
into new market and adopt the new technologies which may affects distribution.
