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ASSIGNMENT
Course Code : MS-6
Course Title : Marketing for Managers
Assignment Code : MS-6/TMA/SEM-I/2014
Coverage : All Blocks
Note : Attempt all the questions and submit this assignment on or before 30th April, 2014 to the
coordinator of your study centre.
1.(a) Distinguish between the terms “Marketing and Selling” and discuss the various activities
carried out in the following situations.
Answer : The difference between marketing and selling:
Many business owners and practitioners mistakenly think of selling and marketing as
interchangeable concepts. This is particularly true in the case of small businesses, which often
equates marketing with selling deliberately due to organizational and resource limitations.
But even if sales and marketing are intrinsically linked, the fact is that they are two very different
business activities.
The difference.
(b) Why a sound knowledge of consumer behaviour in essential for marketer? Discuss.
Answer : Marketing and consumer behavior are intrinsically connected. Without grasping a level of
understanding of what drives consumers, marketers would have a pretty difficult time identifying
the right market segments and putting together a marketing campaign that will attract attention.
Studying consumers helps marketers improve their strategies because it gives them insight into
understanding buyer behavior. By obtaining a view into how consumers think, feel, reason and
choose, marketers can use this information to not only design products and services that will be in
demand, but also how to present these options to

2. 2. (a) Indentify the elements of Marketing Mix for Services. Explain each of these elements by
taking an example of any service offering of your choice.
Answer : Your marketing mix is the combination of the elements of marketing and what roles each
element plays in promoting your products and services and delivering those products and services to
your customers.
Elements of the Marketing Mix
The elements of the marketing mix are also referred to as the 5 P's of marketing. For years
marketers referred to the 4 P's of marketing. Only recently has a 5th P been added. Whether you
subscribe to the theory that there are four p's or five p's of marketing, this is essentially referred to
as your "marketing mix".
The 4 P's of the Marketing Mix
The original 4 P's of marketing (although they have been renamed a bit over the years) that were the
elements of a marketing mix are:
Product – The products or services offered to your customer: Their physical attributes, what they do,
how they differ from your competitors and what benefits they provide.
Price – How you price your product or service so that your price remains competitive but allows you
to make a good profit.
(b) Discuss the significance of Marketing Organization in the light of the firms Marketing
objectives.
Answer : Basic Marketing Concepts
Marketing is an organizational function and a set of processes for creating, communicating, and
delivering value to customers and for managing customer relationships in ways that benefit the
organization and its stakeholders.
Market-a collection of buyers and sellers.
Marketspace-electronic marketplaces unbound by time or space.
Metamarket-a cluster of closely related goods and services that center around a specific
consumption activity.
3.(a) “Marketing Research (MR) is the corner store for the success of a company”. Discuss
the above statement by picking an example of your choice where the role of MR has
contributed to the firm’s success.
Answer : "Marketing research does not make decisions and it does not guarantee success".
Marketing managers may seek advice from marketing research specialists, and indeed it is important
that research reports should specify alternative courses of action and the probability of success,
where possible, of these alternatives. However, it is marketing managers who make the final
marketing decision and not the researcher. The second observation, that marketing research does
not guarantee success, is simply a

3. (b) Elaborate the importance of the stages in the Buyer Decision Process and its impact on the
business.
Answer : A buying decision process (or cost–benefit analysis) describes the process a customer goes
through when buying a product. This buying decision model has gone through lots of interpretation
by scholars. Although the models vary, there is a common theme of five stages in the decision
process.
Stages
These stages were first introduced by John Dewey (1910).The stages are:
1) Problem/Need recognition
2) Information search
3) Evaluation of alternatives
4.(a) Why and when firms embark on New Product Development Initiatives? Discuss.
Answer : Organizations often use strategic initiatives as a tool for improving operations. The
deployed solution typically includes new toolsets and processes that change the flow of work,
decisions, and information.
The success rate for these process-improvement initiatives is about 1 in 3. In prior articles, I have
described examples of success in product development, healthcare quality, and hospitality. Often
the failures are done clumsily, as described in the first change effort in this article describing a tale of
two initiatives at Intel.
I find it best to think of tool and process
(b) What is STP Strategy? What are the benefit and their limitations?
Answer : Segmenting, targeting and positioning
In order to be an effective and efficient business, you should seek out your target customer market.
There are three main issues to consider when determining your target market:
Market segmentation
Market segmentation involves grouping your various customers into segments that have common
needs or will respond similarly to a marketing action. Each segment will respond to a different
marketing mix strategy, with each offering alternate
Dear students get fully solved assignments
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