MKT501 Test (SET-A)Time Allowed: 45 minutes Max. Marks: 45 Name: Roll number: Section:.

Q1:- Differentiate between Sales and Marketing? (10 Marks)SELLINGMARKETING

Selling starts with sellerMarketing starts with buyers

Emphasis is on saleable surplusEmphasis is on identification of a market opportunity

Seeks to quickly convert products into cashSeeks to convert customer needs into products

Views business as goods producing processViews business as customer satisfying process

Cost determines priceConsumer determines price

Views customer as the last link in businessViews customer as the very purpose of the business

Firm makes the product first & then figure out how to sell itWhat is to be offered is determined by the customer

Q2:- Suppose you are a businessman dealing in garments. How will economic, demographic and cultural factors affect your business? (10 Marks)Economic Factor:- Income distribution, consumer psychology, saving rateDemographic Factor: Age Mix, Education, Household patterns etc. Cultural Factor: Society, behaviorStudent needs to relate how these factors affect the business. Q3:- A company plans to launch a new brand of summer cool deodorant. How will you segment the market and which market will you target? (10 Marks)

Student can use demographic, demographic, psychographic and behavioral segmentation. Answer will be evaluated on justification and how these are used.

Q4:- Define the term service. Explain the characteristics of service. (10 Marks)A service is any act of performance that one party can offer another that is 1. Essentially intangible2. does not result in the ownership of anything3. Its production may or may not be tied to a physical product.Characteristics IntangibilityVariabilityPerishabilityInseparabilityQ5 (a) What do you mean by Customer Lifetime Value? (2.5 Marks)CLV (Customer Lifetime Value) is a prediction of all the value a business will derive from their entire relationship with a customer

(b) Briefly explain the function of packaging. (2.5 Marks) Promoting and Selling the Product Defining Product Identity invokes prestige, convenience, or status Provides Information UPC symbols, contents, guarantees, nutritional value, potential hazards Meeting Customer Needs various sizes, snack kits, etc. Ensuring Safe Use plastic instead of glass, tamper-resistant packaging, blisterpacks, childproof containers Protecting the Product during shipping, storage, and display. Protects food from spoilage. Helps prevent shopliftingMKT501 Test (SET-B)Time Allowed: 45 minutes Max. Marks: 45 Name: Roll number: Section:.

Q1:- State how marketing concept is significantly different from production concept and sellingConcept. (10 Marks)The marketing concept first emerged in the 1950s and focuses more on the customer with a sense-and-respond attitude. Companies that have embraced the marketing concept have been shown to achieve superior performance than competitors.The selling concept argues that members of a market will not purchase enough product on their own so companies use the hard-sell to increase demand. Typically used with unsought goods such as insurance or cemetery plots, or when companies face overcapacity.Under a production philosophy the company will seek to mass produce products and to distribute them on a wide scale. The belief is that consumers prefer products that are widely available and inexpensive.

Q2:- India is considered to be having youngest population in World. Analyze how it will affect the marketing of any Insurance Company and under which environment it fall under? (10 Marks)It will fall in demographic environment. It country is young, then more plans needs to be there of retirement, pensions etc. 4P needs to align in such a way so that it can hit the need. Answer may vary. Q3:- Suppose you are going to start a fast food retailing business. How would you segment the market and which markets will you target? (10 Marks)Student can use demographic, demographic, psychographic and behavioral segmentation. Answer will be evaluated on justification and how these are used.

Q4:- Explain the steps in setting the price. (10 Marks)

Q5 (a) What do you mean by Product Life Cycle? (2.5 Marks)Product life cycle is the cycle through which every product goes through from introduction to withdrawal or eventual demise

(b) Briefly explain the function of labelling. (2.5 Marks)1. Identify2. Grade3. Describe4. Promote