2 MM Assignment Cycle-8 answrd

2 MM Assignment Cycle-8 answrd - Amity Campus Uttar Pradesh...

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Amity Campus Uttar Pradesh India 201303 ASSIGNMENTS PROGRAM: DBM Subject Name : Study COUNTRY : Roll Number (Reg.No.) : Student Name : INSTRUCTIONS a) Students are required to submit all three assignment sets. ASSIGNMENT DETAILS MARKS Assignment A Five Subjective Questions 10 Assignment B Three Subjective Questions + Case Study 10 Assignment C Objective or one line Questions 10 b) Total weightage given to these assignments is 30%. OR 30 Marks c) All assignments are to be completed as typed in word/pdf. d) All questions are required to be attempted. e) All the three assignments are to be completed by due dates and need to be submitted for evaluation by Amity University. f) The students have to attached a scan signature in the form. Signature : _________________________________ Date : _________________________________ ( √ ) Tick mark in front of the assignments submitted Assignment ‘A’ Assignment ‘B’ Assignment ‘C’
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Marketing Management Section A All questions carry equal marks. 1. Define Marketing, distinguish between Selling and Marketing. What are the four Components of Marketing Mix, briefly explain? Marketing is an integrated communications-based process through which individuals and communities discover that existing and newly-identified needs and wants may be satisfied by the products and services of others. Marketing is defined by the American Marketing Association as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.[1] The term developed from the original meaning which referred literally to going to market, as in shopping, or going to a market to buy or sell goods or services. 2. How would you price a new product (say a Mix) what options you would employ to generate quick revenue? One of the four major elements of the marketing mix is price. Pricing is an important strategic issue because it is related to product positioning. Furthermore, pricing affects other marketing mix elements such as product features, channel decisions, and promotion. While there is no single recipe to determine pricing, the following is a general sequence of steps that might be followed for developing the pricing of a new product: 1. Develop marketing strategy - perform marketing analysis, segmentation, targeting, and positioning. 2. Make marketing mix decisions - define the product, distribution, and promotional tactics. 3. Estimate the demand curve - understand how quantity demanded varies with price. 4. Calculate cost - include fixed and variable costs associated with the product. 5. Understand environmental factors - evaluate likely competitor actions, understand legal constraints, etc.
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6. Set pricing objectives - for example, profit maximization, revenue maximization, or price stabilization (status quo).
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