Neelam Aswal MBA Sem-2 Mktng Mngmnt

Master of Business Administration-MBA Semester

MB0046 Marketing Management - 4 Credits Assignment Set- 1 Q.1 What is Marketing Information System? Explain its characteristics, benefits and information types. Answer:A Marketing Information System can be defined as a system in which marketing information is formally gathered, stored, analyzed and distributed to managers in accord with their informational needs on a regular basis. Set of procedures and practices employed in analyzing and assessing marketing information, gathered continuously from sources inside and outside of a firm. Timely marketing information provides basis for decisions such as product development or improvement, pricing, packaging, distribution, media selection, and promotion.

Characteristics of MIS

Philip Kotler defines MIS as a system that consists of people, equipment and procedures together, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers.

Its characteristics are as follows: 1. It is a planned system developed to facilitate smooth and continuous flow of information. 2. It provides pertinent information, collected from sources both internal and external to the company, for use as the basis of marketing decision making. 3. It provides right information at the right time to the right person. A well designed MIS serves as a companys nerve centre, continuously monitoring the market environment both inside and outside the organization. In the process, it collects lot of data and stores in the form of a database which is maintained in an organized manner. Marketers classify and analyze this data from the database as needed.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Benefits of MIS (Marketing Information System) Various benefits of having a MIS and resultant flow of marketing information are given below: 1. It allows marketing managers to carry out their analysis, planning implementation and control responsibilities more effectively. 2. It ensures effective tapping of marketing opportunities and enables the company to developeffective safeguard against emerging marketing threats. 3. It provides marketing intelligence to the firm and helps in early spotting of changing trends. 4. It helps the firm adapt its products and services to the needs and tastes of the customers. 5. By providing quality marketing information to the decision maker, MIS helps in improving the Quality of decision making. Types of Marketing Information A Marketing Information System supplies three types of information. 1. Recurrent Information is the data that MIS supplies periodically at a weekly, monthly, quarterly, or annual interval. This includes data such as sales, Market Share, sales call reports, inventory levels, payables, and receivables etc. which are made available regularly. Information on customer awareness of companys brands, advertising campaigns and similar data on close competitors can also be provided. 2. Monitoring Information is the data obtained from regular scanning of certain sources such as trade journals and other publications. Here relevant data from external environment is captured to monitor changes and trends related to marketing situation. Data about competitors can also be part of this category. Some of these data can be purchased at a price from commercial sources such as Market Research agencies or from Government sources. 3. Problem related or customized information 3 is developed in response to some specific requirement related to a marketing problem or any particular data requested by a manager. Primary Data or Secondary Data (or both) are collected through survey Research in response to specific need. For example, if the company has developed a new product, the marketing manager may want to find out the opinion of the target customers before launching the product in the market. Such data is generated by conducting a market research study with adequate sample size, and the findings obtained are used to help decide whether the product is accepted and can be launched.

Neelam Aswal MBA Sem-2 Mktng Mngmnt

q.2 a. ExaminE how a firms macro EnvironmEnt opEratEs. b. Mention the key points in Psychoanalytic model of consumer behaviour. Answer:The term micro-environment denotes those elements over which the marketing firm has control or which it can use in order to gain information that will better help it in its marketing operations. In other words, these are elements that can be manipulated, or used to glean information, in order to provide fuller satisfaction to the companys customers. The objective of marketing philosophy is to make profits through satisfying customers. This is accomplished through the manipulation of the variable over which a company has control in such a way as to optimize this objective. The variables are what Neil Borden has termed the marketing mix which is a combination of all the ingredients in a recipe that is designed to prove most attractive to customers. In this case the ingredients are individual elements that marketing can manipulate into the most appropriate mix. E Jerome McCarthy further dubbed the variables that the company can control in order to reach its target market the four Ps. Each of these is discussed in detail in later chapters, but a brief discussion now follows upon each of these elements of the marketing mix together with an explanation of how they fit into the overall notion of marketing.

A scan of the external macro-environment in which the firm operates can be expressed
in terms of the following factors: Political Economic Social Technological

The acronym PEST (or sometimes rearranged as STEP) is used to describe a framework for the analysis of these macro environmental factors. A PEST analysis fits into an overall environmental scan as shown in the following diagram: Political Factors Political factors include government regulations and legal issues and define both formal and informal rules under which the firm must operate. Some examples include: tax policy employment laws environmental regulations

Neelam Aswal MBA Sem-2 Mktng Mngmnt trade restrictions and tariffs political stability Economic Factors Economic factors affect the purchasing power of potential customers and the firms cost of capital. The following are examples of factors in the macro economy: economic growth interest rates exchange rates inflation rate

Social Factors Social factors include the demographic and cultural aspects of the external macro environment. These factors affect customer needs and the size of potential markets. Some social factors include: health consciousness population growth rate age distribution career attitudes emphasis on safety

Technological Factors Technological factors can lower barriers to entry, reduce minimum efficient production levels, and influence outsourcing decisions. Some technological factors include: R&D activity automation technology incentives rate of technological change

External Opportunities and Threats The PEST factors combined with external micro environmental factors can be classified as opportunities and threats in a SWOT analysis.

The Psychoanalytical Model: The psychoanalytical model draws from Freudian Psychology. According to this model, the individual consumer has a complex set of deep-seated motives which drive him towards certain buying decisions. The buyer has a private world with all his hidden fears, suppressed desires and totally subjective longings. His

Neelam Aswal MBA Sem-2 Mktng Mngmnt buying action can be influenced by appealing to these desires and longings. The psychoanalytical theory is attributed to the work of eminent psychologist Sigmund Freud. Freud introduced personality as a motivating force in human behavior. According to this theory, the mental framework of a human being is composed of three elements, namely, 1. The id or the instinctive, pleasure seeking element. It is the reservoir of the instinctive impulses that a man is born with and whose processes are entirely subconscious. It includes the aggressive, destructive and sexual impulses of man. 2. The superego or the internal filter that presents to the individual the behavioral expectations of society. It develops out of the id, dominates the ego and represents the inhibitions of instinct which is characteristic of man. It represents the moral and ethical elements, the conscience. 3. The ego or the control device that maintains a balance between the id and the superego. It is the most superficial portion of the id. It is modified by the influence of the outside world. Its processes are entirely conscious because it is concerned with the perception of the outside world. The basic theme of the theory is the belief that a person is unable to satisfy all his needs within the bounds of society. Consequently, such unsatisfied needs create tension within an individual have to be repressed. Such repressed tension is always said to exist in the subconscious and continues to influence consumer behavior. 4. The Sociological Model: According to the sociological model, the individual buyer is influenced by society or intimate groups as well as social classes. His buying decisions are not totally governed by utility He has a desire to emulate, follow and fit in with his immediate environment. 5. The Nicosia Model: In recent years, some efforts have been made by marketing scholars to build buyer behavior models totally from the marketing mans standpoint. The Nicosia model and the Howard and She the model are two important models in this category. Both of them belong to the category called the systems model, where the human being is analyzed as a system with stimuli as the input to the system and behavior as the output of the system. Francesco Nicosia, an expert in consumer motivation and behavior put forward his model of buyer behavior in 1966. The model tries to establish the linkages between a firm and its consumer how the activities of the firm influence the consumer and result in his decision to buy. The messages from the firm first influence the predisposition of the consumer towards the product. Depending on the situation, he develops a certain attitude towards the product. It may lead to a search for the product or an evaluation of the product. If these steps have a positive impact on him, it may result in a decision to buy. This is the sum and substance of the activity explanations in the Nicosia Model.

Neelam Aswal MBA Sem-2 Mktng Mngmnt The Nicosia Model groups these activities into four basic fields. Field one has two sub fields the firms attributes and the consumers attributes. An advertising message from the firm reaches the consumers attributes. Depending on the way the message is received by the consumer, a certain attribute may develop, and this becomes the input for Field Two. Field Two is the area of search and evaluation of the advertised product and other alternatives. If this process results in a motivation to buy, it becomes the input for Field Three. Field Three consists of the act of purchase. And Field Four consists of the use of the purchased item.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Q.3 Explain the key roles played and various steps involved in organisational buying. Answer:Point1 Introduction. The need for an understanding of the organizational buying process has grown in recent years due to the many competitive challenges presented in business-tobusiness markets. Since 1980 there have been a number of key changes in this area, including the growth of outsourcing, the increasing power enjoyed by purchasing departments and the Importance given to developing partnerships with suppliers. Point 2The organizational buying behavior process. The organizational buying behavior process is well documented with many models depicting the various phases, the members involved, and the decisions made in each phase. The basic five phase model can be extended to eight Purchase initiation Evaluations criteria formation Information search Supplier definition for RFQ Evaluation of quotations negotiations Suppliers choice and choice implementation (Mat buy, 1986). Point 3 The buying centre. The buying centre consists of those people in the organizational who are involved directly or indirectly in the buying process, i.e. the user, buyer influencer, decider and gatekeeper to who the role of initiator has also been added. The buyers in the process are subject to a wide variety and complexity of buying motives and rules of selection. The Mat buy model encourages marketers to focus their efforts on who is making what decisions based on which criteria. Point 4 Risk and uncertainty The driving forces of organizational buying behaviour. This is concerned with the role of risk or uncertainty on buying behavior. The level of risk depends upon the characteristics of the buying situation faced. The supplier can influence the degree of perceived uncertainty by the buyer and cause certain desired behavioral reactions by the use of information and the implementation of certain actions. The risks perceived by the customer can result from a combination of the characteristics of various factors: the transaction involved, the relationship with the supplier, and his position vis--vis the supply market. Point 5 Factors influencing organizational buying behavior. Three key factors are shown to influence organizational buying behavior, these are, types of buying situations and situational factors, geographical and cultural factors and time factors.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Point 6 Purchasing Strategy. The purchasing function is of great importance because its actions will impact directly on the organizations profitability. Purchasing strategy aims to evaluate and classify the various items purchased in order to be able to choose and manage suppliers accordingly. Classification is along two dimensions: importance of items purchased and characteristics of the supply market. Actions can be taken to influence the supply market. Based on the type of items purchased and on its position in the buying matrix, a company will develop different relationships with suppliers depending upon the number of suppliers, the suppliers share, characteristics of selected suppliers, and the nature of customer-supplier relationships. The degree of centralization of buying activities and the missions and status of the buying function can help support purchasing strategy. The company will adapt its procedures to the type of items purchased which in turn will influence relationships with suppliers. Point 7 The future. Two activities which will be crucial to the future development of organizational buying behavior will be information technology and production technologies. Point 8 Conclusion. Organizational buying behavior is a very complex area; however, understandings of the key factors are fundamental to marketing strategy and thus an organizations ability to compete effectivelyin the market place.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Q.4 Explain the different marketing philosophies and its approach. Answer:Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others. According to the American Marketing Association, Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goods There are six competing philosophies under which organizations conduct marketing activities the production concept, product concept, selling concept, marketing concept, customer concept And social concept. 1) The Production Concept: The production concept is one of the oldest concepts in business. The production concept holds that consumers will prefer products that are widely available and inexpensive. Managers of production-oriented businesses concentrate on achieving high production efficiency, low costs and mass distribution. They assume that consumers are primarily interested in products availability and low prices. This philosophy makes sense in developing countries, where consumers are more interested in obtaining the product than its features. It is also used when a company wants to expand the market. 2. The product Concept: Product concept holds that consumer will favor these products that offer the most quality, performance and innovative features. Managers in these organizations focus on making superior products and improving them over time. They assume that buyers admire well-made products and can evaluate quality and performance product oriented companies often trust that their Engineers can design exceptional products. They get little or no customer input, and very often they will not even examine competitors products. 3. The Selling Concept: The selling concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organizations products. The organization most, therefore, undertakes an aggressive selling and promotion effort. This concept assumes that consumers typically show buying inertia or resistance and must be coaxed into buying. It also assumes that the company has a whole battery of effective selling and promotion tools to stimulate more buying. The selling concept is epitomized by the thinking that The purpose of marketing is to sell more stuff to more people for more money in order to make more profit most firms practice the selling concept when they have over capacity. Their aim is to sell what they make rather then make what market wants.

Neelam Aswal MBA Sem-2 Mktng Mngmnt

4. The Marketing Concept: The marketing concepts hold that the key to achieving its organizational goals consists of the company being more effective then competitors in creating, delivering and communicating superior customer value to its chosen target markets. The marketing concept rests on four pillars: target market, customer needs, integrated marketing and profitability. There is a contrast between selling and marketing concepts:Selling focuses on the needs of the seller Marketing on the needs of the buyer. Selling is preoccupied with the sellers need to convert his product into cash Marketing with the ideas of satisfying the needs of the customers by means of the product and the whole cluster of things associated with creating, delivering and finally consuming it. 5. The customer Concept: Under customer concept, companies shape separate offers, services and messages to individual customers. These companies collect information on each customers past transactions, demographics, psycho graphics and media and distribution preferences. They hope to achieve profitable growth through capturing a larger share of each customers expenditures by building high customer loyalty and focusing on customer lifetime value. The ability of a company to deal with customers are at a time become practical as a result of advances in factory customization, computers, the internet and database marketing software. 6. The Societal Marketing Concept: The societal marketing concept holds that the organizations goal is to determine the needs, wants and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumers and the societys well being. The societal marketing concept calls upon marketers to build social and ethical considerations into their marketing practices. They must balance and juggle the oftenconflicting criteria of company profits, consumer want satisfaction and public interest. Companies see cause-related marketing as an opportunity to enhance their corporate reputation, raise brand awareness, increase customer loyalty, build sales and increase press coverage. They believe that consumers will increasingly look for signs of good corporate citizenship that go beyond supplying rational and emotional benefits.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Q. 5 What are the various stages involved in decision process when a consumer is buying new product? Also, explain the adoption process. Answer:Stages of the Consumer Buying Process Six Stages to the Consumer Buying Decision Process (For complex decisions). Actual purchasing is only one stage of the process. Not all decision processes lead to a purchase. All consumer decisions do not always include all 6 stages, determined by the degree of complexitydiscussed next. The 6 stages are: 1. Problem Recognition (awareness of need)difference between the desired state and the actual condition. Deficit in assortment of products. HungerFood. Hunger stimulates your need to eat. Can be stimulated by the marketer through product informationdid not know you were deficient? I.E., see a commercial for a new pair of shoes, stimulates your recognition that you need a new pair of shoes. 2. Information search Internal search, memory. External search if you need more information. Friends and relatives (word of mouth).Marketer dominated sources Comparison shopping Public sources etc.

1-A successful information search leaves a buyer with possible alternatives, the evoked set. Hungry, want to go out and eat, evoked set is Chinese food Indian food burger king Klondike kates etc

2. Evaluation of Alternatives need to establish criteria for evaluation, features the buyer wants or does not want. Rank/weight alternatives or resume search. May decide that you want to eat something spicy, Indian gets highest rank etc. If not satisfied with your choice then returns to the search phase. Can you think of another restaurant? Look in the yellow pages etc. Information from different sources may be treated differently. Marketers try to influence by framing alternatives. 1. Purchase decisionChoose buying alternative, includes product, package, store, method of purchase etc.

Neelam Aswal MBA Sem-2 Mktng Mngmnt 2. PurchaseMay differs from decision, time lapse between 4 & 5, product availability.

3-Post-Purchase Evaluationoutcome: Satisfaction or Dissatisfaction. Cognitive Dissonance, have you made the right decision. This can be reduced by warranties, after sales communication etc. After eating an Indian meal, may think that really you wanted a Chinese meal instead. Adoption Process Adoption is an individual decision to become a regular user of a product. How do potential customers learn about new products, try them, and adopt or reject them? The consumer adoption process is later followed by the consumer loyalty process, which is the concern of the established producer. Years ago, new product marketers used a mass market approach to launch products. This approach had two main drawbacks: It called for heavy marketing expenditures, and it involved many wasted exposures. These drawbacks led to a second approach, heavy user target marketing. This approach makes sense, provided that heavy users are identifiable and are early adopters. However, even within the heavy user group, many heavy users are loyal to existing brands. New product marketers now aim at consumers who are early adopters. The theory of innovation diffusion and consumer adoption helps marketers identify early adopters. An innovation is any good, service, or idea that is perceived by someone as new. The idea may have a long History, but it is an innovation to the person who sees it as new. Innovations take time to spread through the social system. The Innovation diffusion process is defined as the spread of a new idea from its source of invention or creation to its ultimate users or adopters. The consumer adoption process is the mental process through which an individual passes from first hearing about an innovation to final adoption. Adopters of new products have been observed to move through five stages: 1-Awareness: The consumer becomes aware of the innovation but lacks information about it. 2. Interest: The consumer is stimulated to seek information about the innovation. 3. Evaluation: The consumer considers whether to try the innovation 4. Trial: The consumer tries the innovation to improve his or her estimate of its value. 5. Adoption: The consumer decides to make full and regular use of the innovation.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Q. 6 Explain briefly the marketing mix elements for an automobile company giving sufficient examples. Answer:Marketing mix is the combination of elements that you will use to market your product. There are four elements: Product, Place, Price and Promotion. They are called the four Ps of the marketing mix. The objective of this lesson about marketing mix is to give you: -The tools you need for establishing your detailed marketing plan and forecasting your sales. Challenge Product Place Price Promotion Sales strategy Do it yourself Coaching

1-CHALLENGE You have gotten a rough idea about the market situation and the possible positioning of your product. Of course, its far to be sufficient. Now, you must write your detailed planning. It means that brainstorming is ended and that you have to go to the specifics in examining and checking all the hypothesis you had made in the preceding chapters. You will use the marketing mix. Some people think that the four Ps are old fashionable and propose a new paradigm: The four Cs! Product becomes customer needs Place becomes convenience, price is replaced by cost to the user, promotion becomes communication. It looks like a joke but the Cs is more customer-oriented. 2-PRODUCT A good product makes its marketing by itself because it gives benefits to the customer. We can expect that you have right now a clear idea about the benefits your product can offer. Suppose now that the competitors products offer the same benefits, same quality, same price. You have then to differentiate your product with design, features, packaging, services, warranties, return and so on. In general, differentiation is mainly related to:

Neelam Aswal MBA Sem-2 Mktng Mngmnt -The design: it can be a decisive advantage but it changes with fads. For example, a fun board must offer a good and fashionable design adapted to young people. -The packaging: It must provide a better appearance and a convenient use. In food business, products often differ only by packaging. -The safety: It does not concern fun board but it matters very much for products used by kids. -The green: A friendly product to environment gets an advantage among some segments. In business to business and for expensive items, the best mean of differentiation are warranties, return policy, maintenance service, time payments and financial and insurance services linked to the product 3-PLACE-DISTRIBUTION A crucial decision in any marketing mix is to correctly identify the distribution channels. The question how to reach the customer must always be in your mind. -Definition: The place is where you can expect to find your customer and consequently, where the sale is realized. Knowing this place, you have to look for a distribution channel in order to reach your customer. In fact, instead of place it would be better to use the word distribution but the MBA lingo uses place to memorize the 4 Ps of the marketing mi ! 4-PRICE Price means the pricing strategy you will use. You have already fixed, as an hypothesis a customer price fitted to your customer profile but you will have now to bargain it with the wholesalers and retailers. Do not be foolish: They know better the market than you and you have to listen their advices. 5-PROMOTION Advertising, public relations and so on are included in promotion and consequently in the 4Ps.Sometimes, packaging becomes a fifth P. As promotion is closely linked to the sales, I will mention here the most common features about the sale strategy. -Definition: The function of promotion is to affect the customer behavior in order to close a sale. Of course, it must be consistent with the buying process described in the consumer analysis.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Promotion includes mainly three topics: advertisement, public relations, and sales promotions. Advertisement: It takes many forms: TV, radio, internet, newspapers, yellow pages, and so on. You have to take notice about three important notions: Reach is the percentage of the target market which is affected by your advertisement. For example, if you advertise on radio you must know how many people belonging to your segment can be affected. Frequency is the number of time a person is exposed to your message. It is said that a person must be exposed seven times to the message before to be aware of it. Reach*frequency gives the gross rating point. You have to evaluate it before any advertisement campaign. Message: Sometimes, it is called a creative. Anyway, the message must: get attraction, capture interest, create desire and finally require action that is to say close the sale. Down-earth-advice: There are some magical words that you can use in any message: -Your-YouI-Me-MyNow-Today -Fast-Easy-Cool-New-Fun-Updated-Free-Exciting-Astonishing -Success-Love-Money-Comfort-Protection-Freedom-Luck.

-Public relations: Public relations are more subtle and rely mainly on your own personality. For example, you can deliver public speeches on subjects such as economics, Geoeconomics, futurology to several organizations (civic groups, political groups, fraternal organizations, professional associations) 6-SALES STRATEGY Sales bring in the money. Salesmen are directly exposed to the pressure of finding prospects, making deals, beating competition and bringing money.

Neelam Aswal MBA Sem-2 Mktng Mngmnt

Master of Business Administration-MBA Semester 2

MB0046 Marketing Management Assignment Set- 2

Q.1 What is product mix? What are the strategies involved in product mix and product line? Answer:Product mix The number of individual products produced or sold by an organization. The mix is defined by the industry and manufacturing environment, and management strategies that position the company as a specialty, niche or broad-based supplier of goods and services. Instances where the product mix varies widely from period to period often requires more investment in facilities and inventory, and may result in lower levels of customer service. It is extremely important for any organization to have a well-managed product mix. Most organizations break down managing the product mix, product line, and actual product into three different levels. Strategies involved in product mix and product line. Product-mix decisions are concerned with the combination of product lines offered by the company. Management of the companies' product mix is the responsibility of top management. Some basic product-mix decisions include: 1. Reviewing the mix of existing product lines 2. Adding new lines to and deleting existing lines from the product mix 3. Determining the relative emphasis on new versus existing product lines in the mix 4. Determining the appropriate emphasis on internal development versus external acquisition in the product mix 5. Gauging the effects of adding or deleting a product line in relationship to other lines in the product mix And 6. Forecasting the effects of future external change on the company's product mix. Product-line decisions are concerned with the combination of individual products offered within a given line. The product-line manager supervises several product

Neelam Aswal MBA Sem-2 Mktng Mngmnt managers who are responsible for individual products in the line. Decisions about a product line are usually incorporated into a marketing plan at the divisional level. Such a plan specifies changes in the product lines and allocations to products in each line. Generally, product-line managers have the following responsibilities:

1. Considering expansion of a given product line 2. Considering candidates for deletion from the product line 3. Evaluating the effects of product additions and deletions on the profitability of other items in the line. And 4. Allocating resources to individual products in the line on the basis of marketing strategies recommended by product managers.

Decisions at the first level of product management involve the marketing mix for an individual brand product. These decisions are the responsibility of a brand manager (sometimes called a product manager). Decisions regarding the marketing mix for a brand are represented in the product' marketing plan. The plan for a new brand would specify price level, advertising expenditures for the coming year, coupons, trade discounts, distribution facilities, and a five-year statement of projected sales and earnings. The plan for an existing product would focus on any changes in the marketing strategy. Some of these changes might include the product's target market, advertising and promotional expenditures, product characteristics, price level, and recommended distribution strategy managing the product mix for a company is very demanding and requires constant attention. Top management must provide accurate and timely analysis (BCG) of their company's product mix so the appropriate adjustments can be made to the product line and individual products.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Q.2 what is a distribution channel? Explain the factors to be considered while setting up a distribution channel. Answer:Distribution channel A path through which goods and services flow in one direction (from vendor to the consumer), and the payments generated by them that flow in the opposite direction (from consumer to the vendor). A marketing channel can be as short as being direct from the vendor to the consumer or may include several interconnected intermediaries such as wholesalers, distributors, agents, retailers. Each intermediary receives the item at one pricing point and moves it to the next higher pricing point until it reaches the final buyer.Also called channel of distribution or marketing channel. Distribution is also a very important component of Logistics & Supply chain management. Distribution in supply chain management refers to the distribution of a good from one business to another. It can be factory to supplier, supplier to retailer, or retailer to end customer. It is defined as a chain of intermediaries, each passing the product down the chain to the next organization, before it finally reaches the consumer or end-user. This process is known as the 'distribution chain' or the 'channel. Each of the elements in these chains will have their own specific needs, which the producer must take into account, along with those of the all-important enduser. Factors to be considered for setting up Distribution channel the selection of distribution is affected by many of factors, which play significant role while choosing the channel for distribution. It may include the buying pattern of consumer, type of the product is perishable, or auto mobile, weight and bulk and it also depends on the company's resources. The main affecting factors are following.. Organization objectives - If company objective is to have mass appeal and rapid market penetration. Type of product - Perishable products should have a short distribution channel; FMCG goods should have a wide reaching, intensive distribution channel. Nature and extent of market- Distribution to consumer market or industrial markets would be different channel structures. Existing channel for comparable product- company may chose it's existing channel of distribution for relative product. buying habit of customers- Understanding consumer needs and criteria for buying Channel Availability - Channels may not be available and other factors like

Neelam Aswal MBA Sem-2 Mktng Mngmnt Customer Characteristics Product Attributes Type of Organization Competition Marketing Environmental Forces and Characteristics of Intermediaries Channels A number of alternate 'channels' of distribution may be available: Distributor, who sells to retailers, Retailer (also called dealer or reseller), who sells to end customers Advertisement typically used for consumption goods

Distribution channels may not be restricted to physical products alice from producer to consumer in certain sectors, since both direct and indirect channels may be used. Hotels, for example, may sell their services (typically rooms) directly or through travel agents, tour operators, airlines, tourist boards, centralized reservation systems, etc. process of transfer the products or services from Producer to Customer or end user. There have also been some innovations in the distribution of services. For example, there has been an increase in franchising and in rental services - the latter offering anything from televisions through tools. There has also been some evidence of service integration, with services linking together, particularly in the travel and tourism sectors. For example, links now exist between airlines, hotels and car rental services. In addition, there has been a significant increase in retail outlets for the service sector. Outlets such as estate agencies and building society offices are crowding out traditional grocers from major shopping areas. Channel decisions Channel Sales is nothing but a chain for to market a product through different sources. Channel strategy Gravity & adventure Push and Pull strategy Product (or service) Cost Consumer location Managerial concerns The channel decision is very important. In theory at least, there is a form of tradeoff: the cost of using intermediaries to achieve wider distribution is supposedly lower. Indeed, most consumer goods manufacturers could never justify the cost of selling direct to their consumers, except by mail order. Many suppliers seem to assume that once their product has been sold into the channel, into the beginning of the distribution chain, their job is finished. Yet that distribution chain is merely assuming a part of the supplier's responsibility and, if they have any aspirations to be marketoriented, their job should really be extended to managing all the processes involved in

Neelam Aswal MBA Sem-2 Mktng Mngmnt that chain, until the product or service arrives with the end-user. This may involve a number of decisions on the part of the supplier: Channel membership Channel motivation Monitoring and managing channels

Q.3 Discuss the communication development process with examples.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Answer:-

In development communication, you see that there are two wordsdevelopmentand communication. Communication is a message understood or sharing of experience. When we refer to communication, in the context of development, we refer to various types of communication like interpersonal, group and mass communication. Development, it is not easy to define this as it depends on the context. Development is about change. It is about changing for the better. It could be about social or economic change for improvement or progress. When we refer to development communication, it is about such communication that can be used for development. It is about using communication to change or improve something. Here we use different types of messages to change the social - economic condition of people. These messages are designed to transform the behavior of people or for improving their quality of life. Therefore, development communication can be defined as the use of communication to promote development. Those who write or produce programmers on issues related to development are called development communicators. Role of a development communicator The development communicator plays a very significant role in explaining the development process to the common people in such a way that it finds acceptance. In order to achieve this objective a development communicator: Has to understand the process of development and communication Should possess knowledge in professional techniques and should know the audience Prepare and distribute development messages to millions of people in such a way that they are received and understood, accepted and applied.

If they accept this challenge they will be able to get the people to identify themselves as part of a society and a nation. This identity will help in bringing human resources together for the total welfare of the individual and the community at large.

DEVELOPMENT COMMUNICATION USING VARIOUS MEDIA

Neelam Aswal MBA Sem-2 Mktng Mngmnt The history of development communication in India can be traced to rural radio broadcasts in the1940s in different languages. Have you ever heard a rural program on radio? If you come from a rural area, you probably would have heard. People who present these programmers speak in a language or dialect that the people in your area speak. The programmes may be about farming and related subjects. The program may comprise of interviews with experts, officials and farmers, folk songs and information about weather, market rates, availability of improved seeds and implements. There would also be programmes on related fields. During the 1950s, the government started huge developmental programmes throughout the country. In fact, when Doordarshan started on 15th September 1959, it was concentrating only on programmes on agriculture. Many of you might have seen the Krishi Darshan programme on Doordarshan. Later in 1975, when India used satellites for telecasting television programmes in what is known as SITE (Satellite Instructional Television Experiment), the programmes on education and development were made available to 2400 villages in the states of Andhra Pradesh, Bihar, Karnataka, Madhya Pradesh, Orissa and Rajasthan. As far as the print media is concerned, after Independence when the Five Year Plans were initiated by the government for planned development, it was the newspapers which gave great importance to development themes. They wrote on various government development programmes and how the people could make use of them.If the print media have contributed to development communication, the electronic media radio and television especially All India Radio and Doordarshan have spread messages on development as the main part of their broadcasts. However, amongst all the media that are used for development communication, traditional media are the closest to people who need messages of development likethe farmers and workers. Such forms of media are participatory and effective. You may have seen construction workers cooking their meal of dal and rice over open fires in front of their tents set up temporarily on the roadside. They need to be educated about the values of balanced nutrition, cleanliness, hygiene and water and sanitation.

In various parts of India, groups of volunteers use street theatre as a medium for development communication. This is done through humorous skits and plays through which the importance of literacy, hygiene etc. are enacted. The content for the skits is drawn from the audiences life. For example, they are told about balanced nutrition . This means supplementing their staple diet of dale and rice with green leafy vegetables known to cure night blindness, an ailment common among construction workers. Similarly, female construction workers and their children are taught how to readand write.

Neelam Aswal MBA Sem-2 Mktng Mngmnt However, a problem in communicating a message in an effective way has been a matter of concern to development workers. How can people be taught new skills at a low cost? What would be a good way to deal with sensitive topics such as health issues? How can complicated new research, like that in agriculture for example, be simplified so that ordinary people can benefit? One option has been the use of comics. But, in order to achieve the desired results, these comics should be created locally. But what are comics? You must have all at some point of time read a comic.Comics involve story telling using visuals which must follow local ideas and culture in order to be understood correctly by people. The important thing about comics is that they are made by people on their own issues in their own language. So, readers find them closer to their day-to-day lives. Programmes are organized in the remote areas of Jharkhand, Rajasthan, Tamilnadu, and the North East to provide training to rural communicators to enable them to use comics in development communication. Information on sensitive health issues such as HIV/AIDS has been communicated thought the medium of comics in several states. However, you must understand that development communication using various media is possible only with the active involvement of the following: (i) Development agencies like departments of agriculture. (ii) Voluntary organizations (iii) Concerned citizens (iv)Non governmental organizations (NGOs) Examples One of the first examples of development communication was Farm Radio Forums in Canada. From 1941 to 1965 farmers met in groups each week to listen to special radio programs. There were also printed materials and prepared questions to encourage group discussion. At first this was a response to the Great Depression and the need for increased food production in World War II. But the Forums also dealt with social and economic issues. This model of adult education or distance education was later adopted in India and Ghana.

In 1999 the U.S. Government and D.C. Comics planned to distribute 600,000 comic books to children affected by the Kosovo War. The comic books are in Albanian and feature Superman and Wonder Woman. The aim is to teach children what to do when

Neelam Aswal MBA Sem-2 Mktng Mngmnt they find an unexploded land mine left over from Kosovo's civil war. The comic books instruct children not to touch the anti-personnel mines and not to move, but instead to call an adult for help. In spite of the 1997 Ottawa Treaty which attempts to ban land mines they continue to kill or injure 20,000 civilians each year around the world.

Since 2002, Journalists for Human Rights, a Canadian based NGO, has operated long term projects in Ghana, Sierra Leone, Liberia, and the DR Congo. jhr works directly with journalists, providing monthly workshops, student sessions, on the job training, and additional programs on a country by country basis.

Q.4. Select any mobile handset and mobile company and then evaluate its positioning strengths or weakness in terms of attributes, benefits, values, brand name and brand equity.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Answer:Abstract In the late 1990s, Nokia overtook then leader Motorola to emerge as a behemoth in the global mobile phone industry. Nokia's dominance continued into the first few years of the 2000s, but it suddenly came under threat in 2003-2004, when smaller Asian vendors started making their presence felt with better products at lower prices. The company's problems also had internal causes and analysts said one of the reasons could be that it had become too complacent with its success and lost its agility in reading and responding to market signals. This case study discusses the various problems Nokia faced in 2003-2004, including the company's tardiness in introducing the clamshell phones that had become very popular and its resistance to manufacturing operator specific handsets. It also discusses the efforts Nokia made to recover its market once it realized that its performance was slipping. The case concludes with an analysis of the challenges the company faced in the future and the various options ahead of it. Issues: To understand the difficulties faced by an erstwhile giant in the global mobile phone industry in 2003-2004. To appreciate the importance of innovation in a dynamic and volatile industry. To analyze the effect of changing market conditions on companies. To appreciate the importance of keeping abreast with changing market conditions and adapting to them speedily. To examine future challenges that the company faced and the various options available to it We want to be the company that brings this industry to the next phase. And if we have a little bit of a bump in the road in 2004, that's immaterial." - Jorma Ollila, CEO of Nokia, in mid 2004.1 "Nokia didn't have the coolness factor. They didn't really do flip phones they were a little late with cameras, and they didn't push them. Coolness in the consumer space is a big deal, and they were stodgy."

Jack Gold, vice president of Meta Group,

Neelam Aswal MBA Sem-2 Mktng Mngmnt A Connecticut-based technology consulting firm, in 2005.2 Positive Signs The announcement of Nokia Corporation's (Nokia) quarterly results in April 2005 was a much awaited event as far as the global mobile phone industry was concerned. The company, which had emerged as an industry leader in the late 1990s, had run into rough weather in 2003-2004, with sales and earnings falling below expected levels. So much so that when the company announced poor results in the first quarter of 2004, several analysts declared that it was the beginning of the end of Nokia's dominance in the industry. However, Nokia was not ready to throw in the towel quite so easily. The company put up a tough fight over the second half of 2004 to recapture its lost position in the market. It introduced several new models, modified designs, and aggressively promoted products with a view to increasing its market share, which had fallen to a low of around 28 percent in early 2004 from an average of 35 percent over the previous three years. Nokia's efforts started paying off by late 2004. The company announced satisfactory results for the fourth quarter of 2004 and market share for the year 2004 also stabilized at 32 percent by the end of the year. Jorma Ollila (Ollila), Nokia's CEO, while acknowledging that 2004 had been a challenging year, declared that the company was poised to recover in 2005. Ollila's prediction came true when the company announced better than expected results for the first quarter of 2005, ending March 31. In the first quarter of 2005, Nokia's sales increased 17 percent over the corresponding quarter of the previous year to $9.65 billion. Net profit rose 18 percent to $1.1 billion. Global handset sales rose 11 percent, prompting Nokia to increase its estimate of the size of the global handset market in 2005 by 100 million to 740 million.Commenting on Nokia's improved performance, Jussi Hyoty (Hyoty), an analyst at securities firm FIM Securities, said," Nokia's result was definitely better than expected, and it shows that it's a growth company again." However, despite these positive signs, several analysts wondered whether Nokia would ever be able to dominate the industry as it did in the late 1990s and the first two years of the new century, especially in light of the aggressive competition posed by several new Asian companies as well as more established players like Motorola and Sony Ericsson. Background

Neelam Aswal MBA Sem-2 Mktng Mngmnt Despite the relatively recent emergence of the mobile phone industry globally, Nokia's company history goes back to the 1800s. The company was first set up on the banks of the river Nokia (after which it was named) in southwestern Finland in 1865 by Fredrik Idestam, who was a mining engineer. The original Nokia was a forest industry enterprise that primarily manufactured paper. In 1898, Carl Henrik Lampen, a shopkeeper, and J.E. Segerberg, an engineer, set up the Finnish Rubber Works Ltd. (FRW) to manufacture rubber and associated chemicals. In 1912, Konstantin Wikstrom, an engineer, set up the Finnish Cable Works (FCW) to manufacture electrical cables for lighting purposes. These three companies had business dealings with each other through the early1900s and eventually merged in 1967 to form the Nokia Corporation. The new company had four major businesses - forestry, rubber, cable and electronics. By 1980, Nokia was a large business conglomerate with several businesses ranging from tires to televisions and computers to telecommunications. Excerpts The Rise to the Top Nokia drew on its experience of setting up Nordic cellular networks (which were more advanced than those used by Japan, the rest of Europe, and the US at that time) to successfully adopt the GSM standard. The company was listed on the New York Stock Exchange in 1994. Over the 1990s, Nokia became one of the most successful mobile phone manufacturers in the world and began to enter non- Scandinavian markets as well. Nokia was also one of the first mobile manufacturers to realize the importance of the design element in mobile phones and its phones were more aesthetically designed than those of competitors. In 1998, Nokia overtook Motorola to become the largest mobile manufacturer in the world... Designed for Innovation Nokia was the first mobile phone manufacturer to realize in the late 1990s that phones no longer played only a functional role they were also becoming fashion symbols. Until Nokia began emphasizing the design aspect, mobile phones were bulky, bricklike devices with an external antenna and a standard keypad. Manufacturers emphasized functionality over aesthetic appeal. Nokia broke new ground in 1999, when it launched its 8200 handset on the catwalk at a Paris fashion week... The Decline

Neelam Aswal MBA Sem-2 Mktng Mngmnt In mid-2004, The Economist wrote, "When a firm dominates its market, especially one that is driven by constant technological advances, it risks becoming so fixated with trying to ward off what it reckons to be its most powerful challenger that it leaves itself vulnerable to attack from other directions."Analysts said this statement accurately characterized what happened with Nokia.

In the early 2000s, Microsoft Corp (Microsoft) announced its decision to enter the mobile phones market. The announcement set alarm bells ringing in Nokia as Microsoft had the reputation of being an aggressive competitor... Efforts at Recovery Soon after announcing disappointing results in the first quarter of 2004, Nokia realized that it was in trouble and began to take steps to correct matters. The company not only cut prices on certain handsets to increase market share, but also fine-tuned its portfolio to adjust products to meet market needs. It killed some outmoded models and brought forward the launch of several others, including anumber of clamshell phones. In June 2004, Nokia launched five new models of phones, out of which three were clamshells. Nokia's new models were the 6260 model, a clamshell whose cover not only flipped open but also swiveled, the 6630, which Nokia claimed was the world's smallest camera phone, designed for 3G networks, another clamshell, the 6170, and two low end models, the 2650 and 2600. Several other models were also marketed aggressively. For instance, the low end 1100 model for emerging markets and the 6230 mid range model became very popular in 2004. (The 6230 was so popular in some markets that at times, Nokia was not able to meet the demand)... A Challenging Future despite Nokia's laudable efforts in the direction of recapturing its lost market position, the opinions of analysts on its turnaround were mixed. While the company's detractors believed that Nokia had lost its competitive advantage in the mobile phone market, its supporters said the company's inherent strengths and stable financial position would help it sail through the difficulties it had faced in 20032004 to recover in the future. However, most of them agreed that the mobile phone industry was undergoing a vast change. In the early 2000s, mobile phones were expected to perform a variety of functions in addition to looking stylish and being easy to operate. Nokia's competitors had understood this and were in the process of launching several models that were style statements in themselves... Exhibits Exhibit I: The Phone Feature of N-Gage

Neelam Aswal MBA Sem-2 Mktng Mngmnt

Q. 5 What is retailing? Explain the functions and different types of retailing with its key features.
Answer:Retailing Retail consists of the sale of goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser.[1]Retailing may include subordinated services, such as delivery. Purchasers may be individuals or businesses. In commerce, a "retailer" buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells smaller quantities to the end-user. Retail establishments are often called shops or stores. Retailers are at the end of the supply chain. Manufacturing marketers see the process of retailing as a necessary part of their overall distribution strategy. The term "retailer" is also applied where a service provider services the needs of a large number of individuals, such as a public utility, like electric power. Types of retailers by marketing strategy: Department stores - very large stores offering a huge assortment of "soft" and "hard goods Often bear a resemblance to a collection of specialty stores. A retailer of such store carries variety of categories and has broad assortment at average price. They offer considerable customer service. Discount stores - tend to offer a wide array of products and services, but they compete mainly on price offers extensive assortment of merchandise at affordable and cut-rate prices. Normally retailers sell less fashionoriented brands. Supermarkets - sell mostly food products Warehouse stores - warehouses that offer low-cost, often high-quantity goods piled on pallets or steel shelves Warehouse clubs charge a membership fee Variety stores or "dollar stores" - these offer extremely low-cost goods, with limited selection Demographic - retailers that aim at one particular segment (e.g., high-end retailers focusing on wealthy individuals). Mom-And-Pop (or Kirana Stores as they call them in India): is a retail outlet that is owned and operated by individuals. The range of products are very selective and few in numbers. These stores are seen in local community often are family-run businesses. The square feet area of the store depends on the store holder.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Specialty stores: A typical speciality store gives attention to a particular category and provides high level of service to the customers. A pet store that specializes in selling dog food would be regarded as a specialty store. However, branded stores also come under this format. For example if a customer visits a Reebok or Gap store then they find just Reebok and Gap products in the respective stores.General store - a rural store that supplies the main needs for the local community Convenience stores: is essentially found in residential areas. They provide limited amount of merchandise at more than average prices with a speedy checkout. This store is ideal for emergency and immediate purchases. Hypermarkets: provides variety and huge volumes of exclusive merchandise at low margins. the Metro in Bangalore. Supermarkets: is a self service store consisting mainly of grocery and limited products on non food items. They may adopt a Hi-Lo or an EDLP strategy for pricing. The supermarkets can be anywhere between 20,000-40,000 square feet. Example: SPAR supermarket.Malls: has a range of retail shops at a single outlet. They endow with products, food and entertainment under a roof. Example: Sigma mall and Garuda mall in Bangalore, Express Avenue in Chennai. Category killers or Category Specialist: By supplying wide assortment in a single category for lower prices a retailer can "kill" that category for other retailers. For few categories, such as electronics, the products are displayed at the centre of the store and sales person will be available to address customer queries and give suggestions when required. Other retail format stores are forced to reduce the prices if a category specialist retail store is present in the vicinity. For example: Pai Electronics store in Bangalore, Tata Croma. E-tailers: The customer can shop and order through internet and the merchandise are dropped at the customer's doorstep. Here the retailers use drop shipping technique. They accept the payment for the product but the customer receives the product directly from the manufacturer or a wholesaler. This format is ideal for customers who do not want to travel to retail stores and are interested in home shopping. However it is important for the customer to be wary about defective products and non secure credit card transaction. Example: Amazon and EBay. Vending Machines: This is an automated piece of equipment wherein customers can drop in the money in machine and acquire the products. For example: Soft drinks vending at Bangalore Airport. Some stores take a no frills approach, while others are "mid-range" or "high end", depending on what income level they target.

Other types of retail store include: Automated Retail stores are self service, robotic kiosks located in airports, malls and grocery stores. The stores accept credit cards and are usually open 24/7. Examples include Zoom Shops and Red box.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Big-box stores encompass larger department, discount, general merchandise, and warehouse stores. Convenience store - a small store often with extended hours, stocking everyday or roadside items General store - a store which sells most goods needed, typically in a rural area Retailers can opt for a format as each provides different retail mix to its customers based on their customer demographics, lifestyle and purchase behavior. A good format will lend a hand to display products well and entice the target customers to spawn sales. Functions of Retailing Retailers play a significant role as a conduit between manufacturers, wholesalers, suppliers and consumers. In this context, they perform various functions like sorting, breaking bulk, holding stock, as a channel of communication, storage, advertising and certain additional services. Sorting Manufacturers usually make one or a variety of products and would like to sell their entire inventory to a few buyers to redu7ce costs. Final consumers, in contrast, prefer a large variety of goods and services to choose from and usually buy them in small quantities. Retailers are able to balance the demands of both sides, by collection an assortment of goods from different sources, buying them in sufficiently large quantities and selling them to consumers in small units. The above process is referred to as the sorting process. Through this process, retailers undertake activities and perform functions that add to the value of the products and services sold to the consumer. Supermarkets in the US offer, on and average, 15,000 different items from 500 companies. Customers are able to choose from a wide range of designs, sizes and brands from just one location. If each manufacturer had a separate store for its own products, customers would have to visit several stores to complete their shopping. While all retailers offer an assortment, they specialize in types of assortment offered and the market to which the offering is made. Westside provides clothing and accessories, while a chain like nil irises specializes in food and bakery items. Shoppers Stop targets the elite urban class, while Pantaloons is targeted at the middle class. Breaking Bulk Breaking bulk is another function performed by retailing. The word retailing is derived from the French word retailer, meaning to cut a piece off. To reduce transportation costs, manufacturers and wholesalers typically ship large cartons of the product, which are then tailored by the retailers into smaller quantities to meet individual consumption needs.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Holding Stock Retailers also offer the service of holding stock for the manufacturers. Retailers maintain an inventory that allows for instant availability of the product to the consumers. It helps to keep prices stable and enables the manufacturer to regulate production. Consumers can keep a small stock of products at home as they know that this can be replenished by the retailer and can save on inventory carrying costs. Additional Services Retailers ease the change in ownership of merchandise by providing services that make it convenient to buy and use products. Providing product guarantees, after-sales service and dealing with consumer complaints are some of the services that add value to the actual product at the retailers end. Retailers also offer credit and hire-purchase facilities to the customers to enable them to buy a product now and pay for it later. Retailers fill orders, promptly process, deliver and install products. Salespeople are also employed by retailers to answer queries and provide additional information about the displayed products. The display itself allows the consumer to see and test products before actual purchase. Retail essentially completes transactions with customers. Channel of Communication Retailers also act as the channel of communication and information between the wholesalers or suppliers and the consumers. From advertisements, salespeople and display, shoppers learn about the characteristics and features of a product or services offered. Manufacturers, in their turn, learn of sales forecasts, delivery delays, and customer complaints. The manufacturer can then modify defective or unsatisfactory merchandise and services. Transport and Advertising Functions Small manufacturers can use retailers to provide assistance with transport, storage, advertising and pre-payment of merchandise. This also works the other way round in case the number of retailers is small. The number of functions performed by a particular retailer has a direct relation to the percentage and volume of sales needed to cover both their costs and profits.

Neelam Aswal MBA Sem-2 Mktng Mngmnt

Q. 6 a. What is CRM? What are its objectives? b. Write a short note on Brand development.
Answer:CRM stands for Customer Relationship Management. It is a process or methodology used to learn more about customers needs and behaviors in order to develop stronger relationships with them. There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a process that will help bring together lots of pieces of information about customers, sales, marketing effectiveness, responsiveness and market trends. CRM helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. Objectives of CRM CRM, the technology, along with human resources of the company, enables the company to analyze the behavior of customers and their value. The main areas of focus are as the name suggests: customer, relationship, and the management of relationship and the main objectives to implement CRM in the business strategy are: To To To To To simplify marketing and sales process make call centers more efficient provide better customer service discover new customers and increase customer revenue cross sell products more effectively

The CRM processes should fully support the basic steps of customer life cycle . The basic steps are: Attracting present and new customers Acquiring new customers Serving the customers Finally, retaining the customers

Brand development:A plan to improve the performance of a particular product or service. For example, as part of brand development a firm may initiate a new advertising campaign that includes free samples.

Neelam Aswal MBA Sem-2 Mktng Mngmnt Here are 9 easy tips you can use to grow your brand with your client or customers. 1. The design of your logo really doesn't matter in the end. Would you choose MSN as your search engine over Google because of their logo? No. How about Dell over Apple? Audi over BMW? Delta over Southwest? Nope. Nope. Nope. Having a nice professionally designed logo is great, but it very rarely increases sales by itself. Now, before you freak out, I'm all for a professional logo. If you're using some crappy Microsoft clip-art style logo that definitely won't cut it. Professional logos are cheap today. It's more important to include your logo on every piece of communication. Put it on business cards, letterhead, envelopes, invoices, yellow page ads, building signage, newsletters, etc... It's more important to be consistent and for it to visually represent what you want your company to stand for. If you value creativity, don't have a logo that looks like everyone else. If you value stability, don't have a logo that looks too fluffy and airy. Don't "boil the ocean" trying to get it perfect. Your logo is one minor element of branding. 2. Have a professional website. It's not just good enough to just have a website, you must reflect your desired brand image. If your known as a top notch photographer, the last thing you want is a website designed 10 years ago. It doesn't reflect well on you. Everyone yes everyone, uses the web today to check references and gauge credibility. If someone recommends your service, you can almost guarantee that the prospect will go online to look for you. Your website design should be updated at least every two years to stay current. Your website is your #1 piece marketing material. Done right, it can become your best sales person-and always focus on what your client gets from working with you, not what you do. 3. Blogs are good. Blogs help your business on multiple levels. First off, publishing valuable content on a consistent basis will make you look like an expert. People are looking for experts, not apprentices. The software that powers blogs has multiple advantages. It's very easy to publish without technical knowledge. It's a database driven environment where style is separate from content so you will not need to go back to your web design agency for every little change. And use of tags and sitemaps make basic search engine optimization easy. But the real reason blogs are great is that they enable conversation. Two-way dialog is much more valuable than a company that just dumps messaging and collateral on their customers. 4.Blogs are good, but they're just one tool. A blog should not be your sole marketing strategy. You should have a comprehensive multi-touch marketing plan to get your value proposition in front of your target audience. This can take many forms. You can launch a direct mail campaign, email campaign, host a webinar, sponsor a local event, attend a trade show, attend networking events, host seminars, cold call prospects, win awards, etc... There are a thousand different ways for you to be noticed. You need to be working at least three different marketing strategies to grow your business referrals alone won't get you where you want to go. Data shows that people need to be

Neelam Aswal MBA Sem-2 Mktng Mngmnt exposed to a brand at least seven times before they buy. If you simply do one touch and stop, you're wasting valuable budget dollars and probably wondering why your efforts are not successful. There are 11 different marketing strategies that professional service firms can employ successfully. I recommend working a minimum of three separate marketing strategies all the time (more to come on this next month); this way you ensure that your audience is exposed to your message in multiple formats. It's naive to think that a prospect will jump after seeing your marketing materials/ efforts once. It typically takes 3-7 "touches" for a prospect to take action. 5. Prepare a one page corporate overview. This one pager will be vital as a leave behind when you meet a prospect. Use short sentences in short paragraphs - people like to read quickly. Also make it very conversational; it's not a white paper. Your one page overview should highlight that you understand the pain points of your target audience, how those pain points affect their business, the benefits gained by addressing those pains and a mini-case study - and don't forget your contact information. 6. Participate in local business groups/events. And by participate, I mean be on a committee. Just showing up at events is great, but you're just a face in the crowd. Ask to be on one of the committees. Believe it or not, it's as simple as just asking most of time. Groups are looking for volunteer help and it's a great way to elevate your status and visibility among the entire organization. 7. Do what you say you're going to do. I know it may sound like common sense, but one of the primary drivers of brand loyalty is a consistent experience. If you say you're going to have the deliverable ready on a set day, be sure its ready. Nothing leaves a bad taste in someone's mouth like unmet expectations. Positive experiences lead to good feelings which lead to telling their friends. But don't forget that bad experiences spread much faster and are harder to overcome - if you get a chance at all. 8. Stand for something. People latch on to something they can understand and appreciate. If you're trying to be everything to everybody, chances are you'll attract no one. If you think it's too controversial or risky choosing a niche, remember the power of being seen as an expert. Experts are not good at everything, they're awesome at one thing. This allows you to better position yourself and charge more for your services. People seek out (and pay more for) experts, not generalists. 9. Realize that you're not in control of your brand. That's right, you only set the direction for your brand. Your actual brand image is determined by your audience. You can use these tips to ensure alignment between your desired brand image and your actual brand image in the minds of your customers. Branding isn't a one shot deal, it's an on-going juggling act of marketing, research and conversation. If you're not tapping into those conversations with your audience, how do you know what their real impression of you is? How will you know how to address it? Brand growth comes from alignment. You have to ensure that your actions and marketing efforts put out

Neelam Aswal MBA Sem-2 Mktng Mngmnt the image you desire. But you cannot stop there-those are pre- sales activities that get you noticed-and hopefully bought. You also have to ensure that all actions during the sale and post-sale are positive and in line with your desired brand image. If your audience has a different view of you than you'd like, then your brand is out of alignment and you need to address it.