Marketing Management Short question and Answer Set 1

Last updated on December 28th, 2019 at 03:23 pm

Question No. 1 What is scalloped product life cycle?

In the scalloped P. L.C., sales pass through a succession of life cycles based on the discovery of new- product characteristics, uses or users. Nylon’s sales, for example, show a scalloped pattern because of the many new uses – parachutes, hosiery, shirts, carpeting, boat sails, automobile tires – that continue to be discovered overtime.

Question No. 2 What is product development?

Development of new products refers to the different products a company plans, develops and markets It consists of creation of new ideas, determining their sales potential, profitability, production requirements, investment and other resources needed and then producing.

The product is then tested before marketing it on large scale. The decision to produce a particular product depends on identification of needs and expectations of customers together with company’s possible resources to produce it.

Product planning is the function of top management and specialists from various fields of sales, marketing, production, R and D and finance. The whole process of product development requires close co-ordination with other departments within the company.

Question No. 3 Write a short note on branding.

‘Brand’ is symbol, a mark or name that helps in identifying the product. It represents product image, quality or value. Brand name consists of words, letters, rupees and numbers that can be spoken, e.g. Lux, Pears, Palmolive, Videocon, BPL, Philips, Bisleri, etc. Brand mark is a symbol or design that can be recognized by sight but not pronounceable, e.g., kelvinator refrigerator has Penguin as its distinguished mark; Eagle products have Eagle bird sitting on globe. Maruti Udoyg has peculiar design as its mark.

The use of brands increased due to growth in competition, packaging and advertising. Branding provides physical identification, legal protection and basis for promotion. The physical identification is important in shipping, sorting, grading labelling and inventory management. The brand which is registered under the Trade and Merchandise Marks Act gets legal protection (it is then known as Trade mark).

Question No. 4 How many kinds of brand name are there?

Following are the kinds of brand name:

1. Coined Name:

The name related to producer’s identity, e.g., TATA, Birla, Suzuki.

2. Arbitrary Name:

The name neither symbolizes the producer nor the product, e.g. Kiwi shoe polich, Usha sewing machine, Topaz blades.

3. Suggestive Name:

The name suggests the features and functions of the product e.g. Fair & Lovely fairness cream, Ever Youth home facial.

Question No. 5 What is packing and packaging?

Packing refers to the activities of wrapping or enclosing the product in a container like tin, bottle, jar, bag, cask, box, etc. to facilitate transportation, storage, sale or consumption. It provides identification and protection to the products. Package delivers convenience value to the consumer. It can act as an important promotional tool for the producer.

Packaging has been defined as all the activities of designing and producing the container for a product. For example, Old Spice aftershave lotion is in a bottle {primary package) that is in a cardboard box (secondary package) that is in a corrugated box (shipping package) containing six dozen boxes of Old Spice.

Question No. 6 Give a brief list of those factors which have contributed to the growing use of packaging as a marketing tool.

Well-designed packages can create convenience and promotional value. Various factors have contributed to the growing use of packaging as a marketing tool:

(i) Self-service:

An increasing number of products are sold on a self -service basis. The package must perform many of the sales tasks: attract attention, describe the product’s features, create consumer confidence and make a favourable overall impression.

(ii) Consumer Affluence:

Rising consumer affluence means consumers are willing to pay a little more for the convenience, appearance, dependability and prestige of better packages.

(iii) Company and Brand Image:

Packages contribute to instant recognition of the company o brand.

(iv) Innovation Opportunity:

Innovative packaging can bring large benefits to consumers and profits to producers. Companies are incorporating unique materials and features.