What do you understand by the term Advertising? Discuss the various types of advertising and the major role that advertising plays in the promotion of a firms offering

                                                                                                                                                        

MBA

Marketing Management

ASSIGNMENT

 

Course Code: MMPC-006

Assignment Code: MMPC-006/TMA/JULY/2022 

Coverage : All Blocks

4. (a) What do you understand by the term Advertising? Discuss the various types of advertising and the major role that advertising plays in the promotion of a firms offering

Advertising is a communication tool used by businesses to promote their products or services to potential customers. It is a crucial element of the promotion mix, which aims to create awareness, interest, and desire for the product or service among the target audience.

There are various types of advertising that a business can use, depending on the target audience, marketing objectives, and budget. The major types of advertising are: Print Advertising: This includes advertisements in newspapers, magazines, and other printed materials. It is an effective way to reach a wide audience and create brand awareness.

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Discuss the various factors that affect the Pricing decisions in a firm. Explain the three cost oriented pricing approaches that a firm can use in pricing their products/services.

                                                                                                                                                       

MBA

Marketing Management

ASSIGNMENT

 

Course Code: MMPC-006

Assignment Code: MMPC-006/TMA/JULY/2022 

Coverage : All Blocks

3.(a) Discuss the various factors that affect the Pricing decisions in a firm. Explain the three cost oriented pricing approaches that a firm can use in pricing their products/services.

Pricing decisions are crucial for any business as they directly affect the revenue, market share, and profitability of the firm. The pricing decisions of a firm are influenced by various internal and external factors. 

The following are the factors that affect pricing decisions: Costs: The cost of production, distribution, and promotion of a product/service is one of the key factors that affect pricing decisions. The firm needs to determine the appropriate pricing level that ensures that the costs are covered and a profit margin is maintained.

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Discuss the concept of Product Life Cycle. Elaborate the various stages by taking the example of a shaving cream brand of your choice. What alternatives will you suggest for the brand during its decline stage and why? Offer your reasons.

                                                                                                                                                      

MBA

Marketing Management

ASSIGNMENT

 

Course Code: MMPC-006

Assignment Code: MMPC-006/TMA/JULY/2022 

Coverage : All Blocks

(b) Discuss the concept of Product Life Cycle. Elaborate the various stages by taking the example of a shaving cream brand of your choice. What alternatives will you suggest for the brand during its decline stage and why? Offer your reasons.

Product life cycle (PLC) is a marketing concept that describes the stages a product goes through from its introduction to the market until its decline. The four stages of PLC are introduction, growth, maturity, and decline. Introduction Stage: The introduction stage is the first stage of the PLC, where a new product is introduced to the market. 

During this stage, the product is not well known, and the sales are low. The company needs to focus on creating awareness about the product and educating the customers about its features and benefits.

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Discuss the product line decisions that a firm should consider to pursue and consolidate its position in the face of competition.

                                                                                                                                                     

MBA

Marketing Management

ASSIGNMENT

 

Course Code: MMPC-006

Assignment Code: MMPC-006/TMA/JULY/2022 

Coverage : All Blocks

2. (a) Discuss the product line decisions that a firm should consider to pursue and consolidate its position in the face of competition.

Product line decisions are crucial for any firm as they directly impact the firm's profitability and competitive position in the market. Here are some product line decisions that a firm should consider to pursue and consolidate its position in the face of competition: Product Line Expansion: 

The firm can consider expanding its product line by adding new products to its existing product range. This can help the firm to cater to a broader customer base and increase its revenue. However, the firm needs to conduct market research to ensure that the new products align with the firm's brand image and meet the customers' needs and preferences.

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Various stages involved in the consumer buying process with reference to buying a smartphone brand of your choice.

                                                                                                                                                    

MBA

Marketing Management

ASSIGNMENT

 

Course Code: MMPC-006

Assignment Code: MMPC-006/TMA/JULY/2022 

Coverage : All Blocks

(b) Discuss the various stages involved in the consumer buying process with reference to buying a smartphone brand of your choice.

The consumer buying process refers to the stages that a buyer goes through before making a purchase decision. These stages include problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. Let's discuss each stage in detail with reference to buying a smartphone brand of iPhone. The consumer buying process for buying an iPhone can be broken down into the following stages:

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Define and discuss the term “Marketing”. Elaborate its scope and significance in an enterprise. Needs, Wants and Demands are always the starting point for marketing activities. Explain with a suitable example

                                                                                                                                                   

MBA

Marketing Management

ASSIGNMENT

 

Course Code: MMPC-006

Assignment Code: MMPC-006/TMA/JULY/2022 

Coverage : All Blocks

1. (a) Define and discuss the term “Marketing”. Elaborate its scope and significance in an enterprise. Needs, Wants and Demands are always the starting point for marketing activities. Explain with a suitable example.

Marketing is the process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. It involves identifying the needs and wants of customers, developing products or services that meet those needs and wants, and promoting and distributing them to target customers through various channels. 

The scope of marketing is vast, encompassing various activities such as market research, product development, pricing, promotion, distribution, and customer service. Marketing plays a crucial role in the success of any enterprise as it helps to attract and retain customers, generate revenue, and build brand equity.

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Time Series Analysis

                                                                                                                                                  

MBA

Quantitative Analysis for Managerial Applications

ASSIGNMENT

 

Course Code: MMPC-005

Assignment Code: MMPC-005/TMA/JULY/2022 

Coverage : All Blocks

5. Write short notes on any two of the following:- 

(d) Time Series Analysis

Time series analysis is a statistical method used to analyse and model data collected over time. It involves examining historical data and identifying patterns or trends that can help predict future behaviour. Time series analysis can be used in a variety of fields, including finance, economics, engineering, and environmental science.

The primary objective of time series analysis is to develop a statistical model that captures the underlying patterns and trends in the data. This model can then be used to forecast future values of the time series. There are several techniques used in time series analysis, including trend analysis, seasonal analysis, cyclical analysis, and random fluctuation analysis.

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Exponential Distribution

                                                                                                                                                 

MBA

Quantitative Analysis for Managerial Applications

ASSIGNMENT

 

Course Code: MMPC-005

Assignment Code: MMPC-005/TMA/JULY/2022 

Coverage : All Blocks

5. Write short notes on any two of the following:- 

(c) Exponential Distribution

Exponential distribution is a continuous probability distribution that models the time between events occurring in a Poisson process, where events occur randomly and independently over time. 

The exponential distribution is characterized by a single parameter, the rate parameter, which determines the shape and scale of the distribution. 

The probability density function (PDF) of the exponential distribution is given by: f(x;λ) = λ * e^(-λx) where x is the time between events, λ is the rate parameter, and e is the base of the natural logarithm.

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Stratified Sampling

                                                                                                                                                

MBA

Quantitative Analysis for Managerial Applications

ASSIGNMENT

 

Course Code: MMPC-005

Assignment Code: MMPC-005/TMA/JULY/2022 

Coverage : All Blocks

5. Write short notes on any two of the following:- 

(b) Stratified Sampling

Stratified sampling is a sampling method used in statistics to ensure a representative sample of a population by dividing the population into subgroups, or strata, based on a specific characteristic or variable of interest. The strata are then sampled proportionally to their size in the population, and a sample is taken from each stratum. 

The purpose of stratified sampling is to reduce sampling error and improve the precision of estimates by ensuring that each stratum is represented in the sample. By dividing the population into strata, variations within each stratum can be reduced, and the sampling error can be minimized. Stratified sampling is particularly useful when the variable of interest has high variability within the population, and when the population is heterogeneous.

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Mathematical Properties of Arithmetic Mean

                                                                                                                                               

MBA

Quantitative Analysis for Managerial Applications

ASSIGNMENT

 

Course Code: MMPC-005

Assignment Code: MMPC-005/TMA/JULY/2022 

Coverage : All Blocks

5. Write short notes on any two of the following:- 

(a) Mathematical Properties of Arithmetic Mean.

Arithmetic mean, also known as the average, is a widely used measure of central tendency in statistics. It is calculated by adding up all the values in a set of data and dividing by the total number of values. The mathematical properties of arithmetic mean are important to understand in order to interpret and analyze data accurately. 

The first property of arithmetic mean is that it is sensitive to extreme values, also known as outliers. Outliers can significantly affect the arithmetic mean, causing it to be skewed either positively or negatively. Therefore, it is important to identify and handle outliers appropriately when calculating the arithmetic mean.

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The means of two large samples of sizes 1000 and 2000 are 67.5 and 68.0 respectively. Test the quality of the means of the two populations each with standard deviation of 2.5. (z table value at α0.05= -1.96).

                                                                                                                                              

MBA

Quantitative Analysis for Managerial Applications

ASSIGNMENT

 

Course Code: MMPC-005

Assignment Code: MMPC-005/TMA/JULY/2022 

Coverage : All Blocks

4. The means of two large samples of sizes 1000 and 2000 are 67.5 and 68.0 respectively. Test the quality of the means of the two populations each with standard deviation of 2.5. (z table value at α0.05= -1.96).

In statistical hypothesis testing, we start by formulating a null hypothesis (H0) and an alternative hypothesis (Ha). The null hypothesis is the statement that we want to test, while the alternative hypothesis is the statement that we want to accept if we reject the null hypothesis. The level of significance (α) is the probability of rejecting the null hypothesis when it is actually true. In this case, the level of significance is α = 0.05.

The null hypothesis in this case is that there is no significant difference between the means of the two populations, or μ1 = μ2. The alternative hypothesis is that there is a significant difference between the means of the two populations, or μ1 ≠ μ2.

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What do you understand by Primary Data? What are the various methods of collecting primary data? Also, mention what points to be kept in mind while designing the questionnaire?

                                                                                                                                             

MBA

Quantitative Analysis for Managerial Applications

ASSIGNMENT

 

Course Code: MMPC-005

Assignment Code: MMPC-005/TMA/JULY/2022 

Coverage : All Blocks

3. What do you understand by Primary Data? What are the various methods of collecting primary data? Also, mention what points to be kept in mind while designing the questionnaire?

Primary data refers to data that is collected directly from the source, either through observation or by asking questions. This type of data is original and has not been previously collected, making it particularly valuable for research purposes. Primary data can be collected through various methods, such as surveys, interviews, experiments, and observation. 

Surveys are one of the most common methods of collecting primary data. Surveys can be conducted in various ways, such as through online forms, telephone interviews, face-to-face interviews, or postal mail. Surveys can be structured, where participants are given a set of pre-determined questions, or unstructured, where participants are allowed to respond freely to open-ended questions.

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