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Final_Exam_Winter_2010[1] (2)

Final_Exam_Winter_2010[1] (2) - MBA6011 Strategic Marketing...

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MBA6011 Strategic Marketing Final Exam Chapters 1-13 Ragin-Winter 2010 Name Meghraj Patil 1. What is marketing? (5 points) Ans- Marketing is the process in which companies determine what products or services may be of interest to customers or most accepted by the consumers and the strategy to use in sales, communications and business development of the company. 2. Explain in your own words, what each of the four Ps involves. (2 points for each= 8 points) Ans - 4 Ps includes price, product, place (distribution), and promotion Product- It includes the full bundle things designed for customers. This includes the appearance, functionality, and support. Product refers to the goods and services offer to customers. It includes physical goods which involves ingredients involved in the production of the product. Service explains the fetchers provided by the product. Fetcher explains the quality of the products and the benefits of the products. Place- This is where and how your product is distributed and sold. In place which includes the objective is the element which explains the nature of the place. Promotion- This is the advertising and selling part of Marketing. It also helps to introduce product in the market. In the promotion it includes the objectives which explain the main point of the promotion. Promotion blend it includes the brief idea about different promotions. Price- This is how much you charge for your product or service. Price varies from volume of product, service provided and the location. Price is the main objectives of the price are explains about the cost of the product in the market. 3. Define the acronym SWOT and give an example for each term. (2 points for each term and 2 points for each example=16 points) Ans- SWOT analysis includes strengths, weakness, opportunities and threats. Strengths- Strength is plus point of the company that is helpful to achieving the objectives. Weaknesses- Weaknesses is defects of the company those are harmful to achieving the objectives.
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MBA6011 Strategic Marketing Final Exam Chapters 1-13 Ragin-Winter 2010 Name Meghraj Patil Opportunities- Opportunities are external conditions those are helpful to achieving the objectives.
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