NAME: PAWAN KUMAR

ROLL NO: 2414108237

ASSIGNMENT

SESSION JULY-AUGUST 2024

PROGRAM MASTER OF BUSINESS ADMINISTRATION
SEMESTER II
COURSE CODE & NAME DMBA203 MARKETING MANAGEMENT
CREDITS 4
NUMBER OF ASSIGNMENTS & 02
MARKS 30 Marks each

Set – 1

1. What is Marketing research? List its features (No Explanation).

Answer: Marketing research is the process of gathering information to help businesses
understand their customers, competitors, and the overall market. This helps companies
make better decisions about things like product development, marketing strategies, and
how to reach their target audience effectively.
Features of Marketing Research
1. Organized Process:
Marketing research follows a clear, step-by-step approach to collect and analyze
information. This ensures the findings are reliable and helpful.
2. Based on Data:
It relies on real data collected through surveys, interviews, or observing people’s
behavior, not just opinions or guesses.
3. Objective:
The goal is to find out facts, not to support one side of an argument. The research is
focused on what the data says, without bias.
4. Problem-Solving:
Marketing research helps solve specific problems businesses face, like
understanding why a product isn’t selling or figuring out what customers want.
 5. Useful Insights:
It’s all about providing valuable information that businesses can use to make better
decisions.
6. Focus on Customers:
A lot of marketing research is focused on understanding how customers think, feel,
and behave, so businesses can serve them better.
7. Up-to-Date Information:
The research provides current and relevant information that helps businesses stay
competitive and adapt to changes in the market.
8. Ongoing Process:
Marketing research doesn’t stop after one study. Companies continuously gather
information to stay informed and improve over time.
9. Different Methods:
There are many ways to conduct marketing research, from surveys to focus groups
to observing how people behave in real-life situations.
10. Cost-Effective:
Marketing research aims to get the most valuable information for the least amount
of money, ensuring the company gets a good return on their investment.
In simple terms, marketing research helps companies understand what customers want
and need, what competitors are doing, and how to improve their business strategies.

2. Define CRM. List its importance (No explanation).

Answer : CRM stands for Customer Relationship Management. It refers to the practices,
strategies, and technologies companies use to manage and analyze their interactions with
customers. The goal of CRM is to build strong relationships with customers by understanding
their needs, preferences, and behaviors, which helps improve customer satisfaction and
loyalty.
Importance of CRM
1. Better Customer Understanding:
CRM helps businesses know their customers better by collecting data on their
preferences, purchasing habits, and feedback. This allows companies to offer products
and services that meet customers' needs.
2. Improved Communication:
CRM systems help businesses stay in touch with customers through emails, calls, or
social media, ensuring they are always updated on promotions or new products.
 3. Personalized Service:
By using customer data, businesses can offer personalized experiences, like
recommending products based on past purchases, making customers feel valued and
understood.
4. Increased Customer Loyalty:
When customers feel they are being well taken care of, they are more likely to stay loyal
to a brand. CRM helps businesses provide excellent customer service, which leads to
repeat business.
5. Better Sales Management:
CRM helps businesses track sales leads, monitor progress, and ensure that no potential
customers are forgotten. This leads to more opportunities and increased sales.
6. Efficient Marketing:
With CRM, companies can target the right customers with the right messages, making
marketing campaigns more effective and saving money on advertising.
7. Faster Problem Resolution:
By keeping track of past interactions, CRM systems help businesses quickly address and
solve any issues customers may have, improving customer satisfaction.
8. Increased Revenue:
CRM helps businesses retain customers and attract new ones, which in turn leads to more
sales and higher revenue.
9. Improved Customer Experience:
CRM systems allow businesses to deliver a smoother and more pleasant experience by
keeping track of all customer interactions, making the whole process more efficient.
In simple terms, CRM is important because it helps businesses build better relationships with
their customers, making them happier, more loyal, and more likely to return. This leads to
increased sales, better service, and overall business growth.

3. What is rural Marketing? List the scope (No Explanation).

Answer : Rural marketing refers to the process of promoting and selling products or services in
rural areas, targeting customers who live in villages or small towns. It focuses on understanding
the needs and preferences of rural consumers and creating strategies to meet those needs.
Scope of Rural Marketing
1. Market Potential
2. Product Development
3. Distribution Channels
 4. Pricing Strategy
5. Advertising and Promotion
6. Consumer Behavior
7. Rural Infrastructure
8. Government Policies
9. Financial Inclusion
10. Technological Advancements
11. Cultural Understanding
12. Brand Building
Set – 2

4. What are the drawbacks of branding?

Answer: Drawbacks of Branding
1. High Costs:
Building a brand requires a lot of money for marketing, advertising, packaging, and
promotions. Small businesses might struggle to afford these costs.
2. Time-Consuming:
Developing a strong brand doesn't happen overnight. It takes time to establish brand
recognition and trust with customers.
3. Risk of Failure:
If a branding strategy doesn't work, the business might face significant losses. A failed
brand can damage the company's reputation for a long time.
4. Brand Inconsistency:
If a brand's message or image is not consistent across all platforms, customers can get
confused or lose trust in the brand.
5. Brand Loyalty Limits:
Even with strong branding, some customers may switch to competitors for better prices
or newer products. Not all customers stay loyal forever.
6. High Expectations:
Once a brand is established, there are high expectations from customers. Failing to meet
those expectations can lead to dissatisfaction and loss of customers.
7. Vulnerability to Negative Publicity:
If something goes wrong, a brand can quickly become the target of negative publicity,
which can hurt the reputation and sales.
 8. Market Saturation:
In crowded markets, it can be difficult for a brand to stand out, especially if there are
already many similar brands.
9. Overemphasis on Branding:
Focusing too much on branding can sometimes distract businesses from improving
product quality or customer service, which are equally important for long-term success.
In short, while branding can help businesses grow, it comes with risks and challenges like high
costs, long timelines, and the need to maintain consistency and trust with customers.

5. List the steps in positioning the product (No Explanation).

Answer: Steps in Positioning the Product
1. Identify Target Market:
The first step is to understand who your customers are. This involves analyzing their
demographics, needs, preferences, and behaviors to identify which group of people will
most benefit from your product.
2. Analyze Competitors:
Look at your competitors and study how they position their products. This helps you
understand the strengths and weaknesses of their offerings and find opportunities to
differentiate your product.
3. Define Product’s Unique Selling Proposition (USP):
Your product should have something special that sets it apart from competitors. This
could be quality, price, features, or something else that makes it unique and valuable to
customers.
4. Determine Key Benefits:
Focus on the benefits that your product offers to your target audience. These should solve
specific problems or meet the needs of your customers, making it more appealing.
5. Choose a Positioning Strategy:
Decide how you want your product to be perceived in the market. You can position it
based on attributes, price, quality, usage, or other factors that are important to your target
market.
6. Develop Positioning Statement:
Create a clear and concise statement that describes your product’s position in the market.
This statement should communicate the target audience, the product’s key benefits, and
how it is different from competitors.
7. Communicate the Positioning:
Ensure that your positioning is clearly communicated to your customers through
 marketing campaigns, advertising, packaging, and sales strategies. Every touchpoint
should reflect the product’s position.
8. Monitor and Adjust Positioning:
Once the product is positioned, continuously monitor how the market responds. Be
prepared to adjust the positioning if necessary to stay relevant and competitive. This can
include tweaking your messaging or exploring new target segments.

6. List the internal and external factors affecting pricing.

Answer : Internal Factors Affecting Pricing
1. Cost of Production:
The costs involved in making the product, including raw materials, labor, overhead, and
manufacturing, influence the pricing. Businesses must set prices high enough to cover
these costs and make a profit.
2. Company Objectives:
The pricing strategy depends on the company's goals. If the company aims for rapid
market penetration, it might set lower prices. If the goal is to position the product as
premium, higher prices may be set.
3. Marketing Strategy:
A company’s overall marketing plan can impact pricing. For instance, if the business is
focusing on a high-quality, exclusive image, the product might be priced higher to reflect
that positioning.
4. Brand Image:
Established brands can often charge higher prices because consumers trust them. If the
brand is perceived as high-end, it will justify higher pricing.
5. Product Lifecycle:
The price can vary depending on where the product is in its lifecycle. New products
might be priced higher to recover development costs, while older products may be
discounted to clear inventory.
6. Profit Margins:
A company will determine its price based on how much profit it aims to make on each
product. This involves setting a price that covers all expenses and provides a satisfactory
profit margin.

External Factors Affecting Pricing

1. Market Demand:
The level of demand for the product directly affects its price. If demand is high and
 supply is limited, the price can be increased. Conversely, if demand is low, the price
might be reduced to stimulate sales.
2. Competition:
The prices set by competitors are a major external factor. If competitors are offering
similar products at lower prices, a business may need to adjust its own pricing to stay
competitive.
3. Economic Conditions:
General economic conditions like inflation, recession, or changes in disposable income
affect pricing. During tough economic times, people may not be willing to pay high
prices, so companies may need to lower their prices.
4. Government Regulations:
Governments can set laws that influence pricing, such as price controls, taxes, tariffs, or
import/export restrictions. Companies need to comply with these regulations while
setting their prices.
5. Consumer Behavior:
The willingness of consumers to pay a certain price can affect how a company prices its
products. If consumers perceive a product as valuable or necessary, they may be willing
to pay a higher price.
6. Supply Chain Factors:
Costs related to raw materials, transportation, and inventory levels can affect pricing. If
there’s a shortage of materials or higher shipping costs, the price might need to be
adjusted.
7. Technology and Innovation:
New technologies can influence pricing. For example, if new technologies lower
production costs, businesses can either reduce prices or keep the same price while
increasing profits.
In summary, both internal factors (like costs, brand image, and company goals) and external
factors (such as market demand, competition, and economic conditions) play a crucial role in
determining how a product is priced. Companies must carefully balance these influences to set
the right price for their products.