PROGRAM - MBA
SEMESTER - 4
SUBJECT CODE & NAME - MK0015 –Services Marketing
and Customer Relationship Management
1. Discuss the issues that need to
be addressed by a firm before it sets out targeting goals.
Targeting
Customers form the most
integral part of service production as well as marketing. The service process
is begun by identifying and then targeting the right customers. It is important
for every firm to specify the target group before launching a service product.
A huge marketplace holds a variety of customers with different preferences,
needs and expectations. It is important to zero down on the ‘right’ segment of
customers. While formulating a strategy for identifying the target segment, the
following issues need to be addressed.
1. As far as the
selection of the customers is concerned, the firm must begin by finding the
‘good fit’. The market should be analysed only for customers’ needs. At the
same time, the firm’s potential should correspond with the expectations.
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2. Briefly discuss Service Marketing
Mix with suitable examples.
Service Marketing Mix: 7Ps
You must be familiar
with the 4Ps of the marketing mix, that is, product, place, price and
promotion. These are the four key elements that an organization uses in order
to communicate with its customers. The term mix implies that the four elements
are interdependent and together they form the core variables of any marketing
plan that an organization puts forth. In the case of service marketing mix,
these four elements play a crucial role. However, the marketing mix for
services has three additional Ps, that is, people, process and physical
evidence.
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3. Describe the Howard Sheth model
of customer Behaviour.
Howard Sheth model
Simple
models of buyer behaviour understand it to be made up of an underlying need
triggering of a search for need satisfying solutions. When possible solutions
have been identified, these are evaluated according to some criteria. The final
purchase decision is seen as a product of the interaction between the final
decision maker and a range of influencers. After purchase and consumption, consumers
develop feelings about their purchases which influence future decisions.
Service purchase decision process can be a complex iterative process involving
large number of influencers and diverse decision criteria. In other words, service
processes are contingent on certain rules and conditions that appear
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4. Briefly discuss impact & importance
of IT for Education & Banking sector?
IT in the Education sector
Some interesting
developments and uses of IT in education are as follows:
•Computer-based Training (CBT):
Progressive educational institutions can conduct classroom sessions using what
is known as CBT. Each student will sit at a computer terminal which operates
software that
presents course
material in interactive sessions. It includes refreshers and quizzes of the
material presented to reinforce the students’ understanding. The benefits of
such learning software are that the student can learn at their own pace, and it
allows the student to explore and discover ideas and concepts within the
material rather than learning by rote.
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5. Describe the nature of service
marketing.
Nature of Service Marketing
Service marketing is
marketing based on relationship and value. It may be used to market a service
or a product that is defined under service activities. Marketing a
service-based business is different from marketing a goods based business. For
one, it is not easy to put a price to the service. Also, service firms are
organized in a different manner in terms of structure. Determining costs
becomes even more difficult in the non-profit sector wherein there are many
limitations. All these reasons make it essential for marketing of services to
be done in a different manner.
Given the
spectrum of educational marketing, services marketing is relatively gaining
momentum on that ground. As companies are moving away from industrial
economies, services and its importance are
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6. Write short notes on:
a) e-CRM
b) Customer Life Cycle
a) e-CRM
The basic idea of e-CRM
comes from e-commerce. Essentially, e-CRM differs from CRM in terms of the
technology and the syntactical nature of interface with customers. Typically an
e-CRM would provide customers with a self-service browser based window on which
they may have greater autonomy to surf different schemes and offers.
Additionally, an e-CRM will also be able to generate a history of purchases,
e-mails where they will get updates and such like. In other words, e-CRM has
been designed to monitor all forms of managing relationships with customers
using IT or information technology. The main objective of e-CRM is to integrate
data by using internal organization resources and external marketing
strategies
to understand and carry out customer needs and requirements. The overall goal
can be mapped as a process that effectively deals with managing different
relationships with customers and
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SUBJECT CODE & NAME - MK0016/ML0016- Advertising
Management and Sales Promotion
1. Briefly discuss the Consumer Protection Act and also elucidate its
strengths and weaknesses.
The Consumer Protection Act, 1986
The enactment
of the Consumer
Protection Act, 1986
and setting up of
Consumer Protection Councils
passing the Right
to Information Act
have brought relief to the consumer. The Website of the Consumer
Protection Act hails it as
a “milestone in
the history of
socio-economic legislation.” The product
may be a
screw or a
car, but defects
require redressal. The
Act defines clearly how to seek relief.
Who is a consumer?
Any person who buys any
goods for consideration, but not for resale.
Who can complain to the
forum?
·
A consumer
·
Any registered
voluntary organisation
·
Central or any
State Government
·
A group of
consumers with the same interest
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2. Elaborate in detail factors
that are affecting marketing and advertisement.
Factors that affecting marketing and Advertisement
Factors that Affect Marketing
and Advertising are as follows: -
1. Industrial growth
Industrial growth is
difficult to measure in absolute terms because when one sector is doing well,
another may not be. Industrial lending is a key indicator. Big industries
have been in
a tight spot
since 2008–09 due
to global recession, forcing closures
and retrenchments. And the financial
health of the urban
industrial worker segment
is a major
influencer of the
urban market.
2. The China factor
As China’s
so-called over-heated economy – that grew
at over 10% of
Gross Domestic Product (GDP) for several years – slows down, it has many
implications on the
Indian market. Unable
to
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3. Explain the theories of
Advertising in detail.
Theories of Advertising
Advertisers need to know the different theories of
persuasion and how one message can greatly differ from another simply because
of the persuasion strategy used. Following
are some of
the best-known ones
that attempt giving some answers.
• The
Cognitive-Response Theory – The persuasion
process takes place when
a person reflects
on the content
of the message
and has cognitive responses to
it. Cognitive responses are thoughts that develop while the process
of elaborating on the message occurs.
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4. What are the various factors
that are influencing in setting of budget?
Factors Influencing Budget Setting
Various factors, such
as the following, have to be considered while setting the budget:
·
Product
·
Competition
·
Market share
·
Market situation
·
Distribution system
·
Sales decay rate
·
Unexploited sales
potential
Product
Various factors related
to the product such as the product type, stage in the product life cycle,
complexity of features, brand differentiation, etc. affect the need for
promotion.
Competition
Needless
to say, the larger the number of competitors and the stronger the competition,
the more a brand
has to spend to make
even a small noise. Also,
many companies determine
their budgets
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5. What are the various media that may be used
for direct marketing? What are their pros and cons?
Media for Direct Marketing
Direct marketing
uses all mass
marketing media as
well as some unconventional media like the telephone
or personal visits. More than one medium can also be used in combination.
Following are some of the most popular media:
1. Direct mail : - Direct mail
is one of
the most popular
forms of direct
marketing. It is an
advertising message that is delivered by mail
– posted, couriered or
handdelivered personally. A direct mail is not always a simple letter. It can
even be a package
consisting of a
brochure, a business-reply envelop,
product
samples,
etc. Sometimes it may contain a product
catalogue. A catalogue is a direct mail
publication that shows the products to be sold. It usually has all the
information that one
needs to place
an
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6. Write a short note on
a. Advertising in marketing mix
b. Positioning
A. Role of advertising in marketing mix
Marketing has
been defined by
various experts as
that which covers
all activities from product
conception to the
last step when
it reaches the consumer. An exhaustive list of its
primary activity includes:
• Product,
Price, Promotion, Placement
(4 Ps of
E. Jerome McCarthy, 1960)
• Product
planning, pricing, branding,
channels of distribution,
personal selling, advertising, promotions, packaging, displays,
servicing, physical handling, fact finding and analysis (Borden, 1964)
• 4
Ps + packaging,
positioning, people, perceptions,
physical facilities, public
relations, publicity, pay off, etc., are
the other Ps added by other scholars
(Jethwaney & Jain, 2006)
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SEMESTER - IV
SUBJECT CODE & NAME - MK0017 – E-MARKETING
1. Explain Front-end &
Back-end activities of Infrastructure: Building a Product system. Explain
Digital Products.
a) Front-end &
Back-end activities of Infrastructure: Building a Product system
Infrastructure: Building a Product System
Every information
technology system needs an infrastructureto work efficiently. Companies taking
the route to e-marketing need to develop a dynamic model of e-marketing, to
organize their product systems to induce customers to appreciate the difference
between the perceived benefits and the relative costs, measurable in terms of
time and money spent in network purchasing activities (such as
browsing,
e-mails and so on). Developing this system can be done in five steps. The first
step would be to define the boundaries of the system by drawing on observation,
research, etc. The e-marketing system will encompass the senders/ receivers of
e-mail and technology vendors who will sellproducts
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2. List and explain the types of
online stores in E-Malls and Parties in an E-Marketplace
a) Types of online stores in
E-Malls
An e-mall is an online
shopping centre in which there are many
online, or virtual, stores. The basic four types of online stores have been
explained below:
1. General stores/malls: - These
are general stores that have a presence in theonline market. They include stores
like Junglee.com and infibeam.com which act as an interface between the buyer
and seller. They are stores that have a variety of items for sale and are thus
called general stores. They do not specialize in selling any one item.
2. Specialized stores/malls: - The
specialized stores would sell only specialized items. For example there are Websites
selling only mobiles like themobilestore.com and Websites selling only property
like 99acres.com.Thus, they specialize in their areas of product and are named
as specialized stores.
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3. Elaborate on the Internal and
External Considerations of Situational Analysis
Internal Considerations
Internal
considerations include organizational
structure and culture, SWOT analysis of
workforce, existence of competitive advantage, and budget. Organizational
Structure and culture:The organizational structure and culture play a major
role in how an e-marketing plan shapes
up. For example, a company with a flat organization and one with less
hierarchy or an open culture has greater
openness, sharing,
transparency and team-fostering among employees. SWOT analysis: Before
making an e-marketing
plan, the strengths and weaknesses of the workforce must be
studied carefully . This can be done through a SWOT (Strengths, Weaknesses,
Opportunities and Threats) analysis.
A SWOT
analysis is a powerful tool that can help a company identify hidden opportunities
that can be exploited. It can also reveal the weaknesses, so that they can be
removed before they become threats.
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4. Explain the 4 P’s in
E-Marketing along with the additional 3P’s in E-Marketing of Services
a) 4 P’s in E-Marketing
1. Product: - The product
may be an item for sale or a service, and these may be direct to the consumer
(B2C) or to businesses (B2B). The product is the most important part of the business. Thus, it
is crucial for a business to showcase its products to potential customers. In
an online business, the productand its specifications should be shown clearly.
In case of electronics, the technical details, model specifications,
compatibility, etc., should be displayed. In case of apparel, the size, fabric
and colour should be given.
2.
Price: - The price of a product or service is a key element of the
marketing mix; it must be acceptable to target customers and it must reflect
the other components of the mix accurately. The price of the service is the
value attached to it by the service provider and it must correspond with the
customer’s
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5. Elaborate on the Word-of-Mouth
Marketing Techniques
Word-of-Mouth Marketing Techniques
Word-of-mouth marketing,
also called word-of-mouth advertising, is one of the most credible, unpaid
forms of marketing—oral or written—wherein satisfied customers tell other
people how much they like a business,
product, service, or event. Word-of-mouth techniques of e-marketing
include:
(i)
Viral marketing:Viral marketing or marketing buzz is a marketing
technique that uses pre-existing social networks to increase productsales
through increasing brand awareness and self replicating viral processes which
is similar to spread of viruses or computer viruses. The viral messages thus transmitted
appeal to readers with high social networking potential who in turn spread the
same in their
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6. Write short notes on:
a) Customer Metrics
b) E-mail/Direct Metrics
c) On-site Web analytics
technologies
a) Customer Metrics
Customer metrics
includes numerical scores or
indices that summarize customer
feedback results. These scores are normally based on customer ratings (e.g.,
average satisfaction rating with product quality) or open-ended customer
comments (via sentiment analysis). Customer metrics reflect the underlying characteristic/mental
processes about your customers: their
opinions, attitudes, and behaviour about and intentions towards your company or
brand. Some of the common tools employed to measure customer metrics are:
Acquisition
cost by campaign : - Acquisition
cost or the
Cost Per Action or Pay
PerAction is an online advertising pricing model, in which
the advertiser pays for each specified action (like the purchase, a form
submission, etc.) linked to the
advertisement. This is one way of measuring the
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PROGRAM - MBA
SUBJECT
CODE & NAME - MK0018–
International Marketing
1. Differentiate between GATT and
WTO
Difference between GATT and WTO
The General
Agreement on Tariffs
and Trade (GATT)
was based on conventions and not considered as an
international institution. It was
set up in 1947. At
that time, it
comprised only 23
countries. Negotiations for
the GATT started in
the late 1940s
with an aim
to reconstruct a
multilateral system of world trade through the elimination of
discrimination, the reduction of tariffs and the dismantlement of other trade
barriers. These negotiations were deliberated in order to increase the economic activities to
compensate the damages of World War II. The GATT was a subsidiary agreement
under the International Trade Organisation (ITO) Charter.
The most
important GATTs round was the Uruguay Round on Multilateral Trade Negotiations
concluded in 1994,
in which the
scope of multilateral trade negotiations on goods,
services and
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2. Write short notes on the
following:
A. International franchising
B. International contract manufacturing
A. International franchising
Franchising is a special form of licensing
in which the franchisor makes a total
marketing programme available,
including the brand
name, logo, products and
method of operation.
Franchising is defined
by International Franchising Association
as “the contractual
relationship between the franchisor and
the franchisee in
which the franchisor
offers a continuing interest in the business of the
franchisee in such areas as know-how and training and
where the franchisee operates
under a common
trade name, format and/or
procedure, owned or controlled by the franchisor and in which
the
franchisee has or
will make a
substantial capital investment
in his/her business from his/her
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3. What are the stages in which
international markets are screened and analysed?
A four-stage processing
for screening and analysing international markets is as below:
·
Preliminary
screening
·
Estimating market
potential
·
Estimating sales
potential
·
Identifying segments
in target markets
• Preliminary screening
After determining the
criteria for market selection, the most important step in the international
market selection process
is to conduct
a preliminary screening of
the markets. The
objective of the
preliminary screening
process is to
eliminate the markets,
which obviously do not have
enough potential as revealed by a cursory research.
The parameters
used for preliminary
screening may vary
from product to product. Other parameters like the size of
the population, per capita income, structure of the economy, infrastructural
factors, political conditions, etc., are very
often considered in
the selection of
overseas markets.
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4. What is counter-trade? Describe
the various types of counter-trade.
Counter-Trade
Counter-trade is
one of the
oldest forms of
trade wherein the
buyer pays something other
than money for
purchase of goods
and services. It
is a practice that requires a
seller as a condition of sale to commit
contractually to reciprocate and
undertake certain business
initiatives that compensate and benefit the buyer.
Counter-trade has been
on the rise, primarily due to its inherent advantages vis-à-vis monetary
transaction, such as:
·
It provides
a trade financing alternative to those
countries that have an international debt and liquidity problems.
·
It helps to access
new markets where payment problems exist.
·
It helps promote
bilateral trade agreements between the governments.
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5. Briefly discuss the role of sales promotion and personal selling in
international marketing.
Sales promotion
Sales promotion is an
important tool of marketing communication because it is directed
at consumers, and
it involves such
activities like couponing, sampling, premiums,
consumer education and
demonstration activities,
cents-off packages, point-of-purchase materials
and direct mail.
Sales promotion directed at
intermediaries known as
trade promotion includes activities like
trade shows and
exhibits, trade discounts
and co-operative
advertising. For example, attendance at an appropriate trade shows is
one of the best ways to make contracts with government officials
and decision makers, or to work with present intermediaries or attract new
ones.
Objectives of sales promotions
Promotion
includes providing information about the attributes of the product and communicating
messages aimed at
satisfying its shareholders, government dealers
and the like.
The main
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6. Write short notes on the
following:
a. Bill of Exchange
b. Packing list
c. Air way bill
d. Certificate of origin
e. Consular invoice
a. Bill of Exchange
A Bill of Exchange
(B/E) is an unconditional order in writing by the exporter to the importer
asking the importer to make the payment of a certain amount. The exporter is
called the drawer and the importer is
called the drawee
here. When a
draft bill is
drawn on a foreign
firm, it is
termed as a
foreign draft or
bill of exchange.
It is prepared either in an
international currency or Indian rupee depending
on the terms of the
contract. Accordingly, the bill is known by the name of the
currency in which it is drawn. For example, the bill drawn in US dollars
is known as “Dollar Bill” and when prepared in rupees it is termed as “Rupee
Bill.”
A B/E or
draft is of two types (a) “Sight Draft” and (b) “Usance Draft or Usance Bill.”
When a drawer, that is, exporter,
expects the drawee, that is, importer,
to make the
payment immediately after
the
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