Download CUSTOMER_CODE SMUDE DIVISION_CODE SMUDE

CUSTOMER_CODE
SMUDE
DIVISION_CODE
SMUDE
EVENT_CODE
JAN2016
ASSESSMENT_CODE MB0046_JAN2016
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
73192
QUESTION_TEXT
Briefly explain the Henry Assael model of consumer’s buying decision
behavior
SCHEME OF
EVALUATION
Henry Assael has come up with an explanation to analyze why
consumers buy the goods they buy. He explained the relationship
between the level of involvement by the consumers in the purchase of
goods and services and the level at which diverse goods or services
differ from one another. He therefore came up with for different buying
behaviors as explained in figure
Figure: refer page no-122
1. Complex buying behavior: consumers are highly involved in a
purchase and aware of significant differences among brands. This is
usually the case when the product is expensive, bought in frequently,
risky, and highly self expressive. Typically the consumers do not know
much about the product category and have more to learn.
2. Dissonance reducing: some times, the consumer is highly involved
in purchase but sees little differences in the brands. The high
involvement is based on the fact that the purchase is expensive in
frequent, risky.
3. Habitual buying behavior: Many products are bought under
conditions flow consumers involvement and the absence of significant
brand differences. Considering salt, consumers have little involvement
in this product category. They go the store and reach for a brand. If they
keep reaching for the same brand, it is out of habit and not strong
brand loyalty.
4. Variety seeking buying: Some buying situations are characterized
by law consumer involvement but significant brand differences. Here
consumers often do lot of brand switching. Consumer do the brand
switching for the sake of variety rather than dissatisfaction.
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
73193
QUESTION_TEXT
Explain the various characteristics that affect the consumer
buying behavior?
SCHEME OF
EVALUATION
Influence of cultural factors
Culture
Subculture
Social class
Influence of social factors
Reference group
Family
Role and status
Influence of personal factors
Psychological factors
Motivation
Perception
Selective attention
Selective distortion
Selective retention
Learning
Attitude
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
73195
QUESTION_TEXT
Discuss the factors that influence price decisions
Internal factors
SCHEME OF EVALUATION External factors
5 Mark each with explanation
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
126174
QUESTION_TEXT
What are the benefits and components of MIS?
The benefits of MIS are as follows:
SCHEME OF
EVALUATION
MIS is concerned with planning and control. It allows marketing managers
to carry out the analysis, planning, implementation, and control
responsibilities more effectively. MIS includes all the ingredients that
are employed in providing information support to managers in making
planning and control decisions.
The output of MIS is information that sub serves managerial functions.
MIS deals with information that is systematically and routinely collected
in accordance with a well-defined set of rules. This implies that a MIS is
a part of the formal information network in an organisation. It provides
marketing intelligence to the firm and helps in early spotting of
changing trends.
MIS assesses the information needs of different managers and develops
the required information on time from the supplied data regarding
competition, prices, advertising expenditures, sales, distribution and
market intelligence, etc. It helps the firm to adapt its products and
services to the needs and tastes of the customers.
MIS provides inputs from marketing environmental factors like target
markets, marketing channels, competitors, consumers, and other forces
for creating, changing, and modifying marketing decisions in the
formulation of relevant and competitive marketing strategies. It ensures
effective tapping of marketing opportunities and enables the company
to develop effective safeguard against emerging marketing threats.
Components of MIS
The overall objective of any MIS is to provide inputs from marketing
environmental factors like target markets, marketing channels,
competitors, consumers, and other forces for creating, changing, and
modifying marketing decisions in the formulation of relevant and
competitive marketing strategies.
Internal record systems – Internal record systems are available within the
company across various departments and provide relevant, routine
information for making marketing decisions. The most evident internal
record system is the purchase and payment cycle systems. It records
the timing and size of orders placed by consumers, the payment cycles
followed by consumers, and the time taken to fulfil the orders in the
shortest possible time.
Marketing intelligence system – A marketing intelligence system is the
system of collecting and collating data. This system tries to capture
relevant data from the external environment. It collects and manages
data from the external environment about the competitors’ moves,
government regulations, and other relevant information having a direct
impact on the marketing environment of the firm.
Analytical marketing systems – Analytical marketing systems are also
known as Marketing Decision Support Systems (MDSS). A MDSS is a
coordinated collection of data, systems, tools, and techniques with
supporting software and hardware. Using this collection, an
organisation gathers and interprets relevant information from business
and environment and turns it into a basis for marketing action. It
involves problem-solving technology consisting of people, knowledge,
software, and hardware integrated through the information technology
platform into the sales management process of the organisation.
Marketing research systems – Marketing research systems are based
on systems and processes that help marketing managers to design,
collect, analyse, and report data and findings relevant to a specific
marketing situation facing the company. It also involves analysis of
information, which includes a coordinated collection of data, systems,
tools, and techniques with supporting software, and hardware by which
an organisation gathers and interprets the relevant data and turns it into a
basis for marketing action and tactics.
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
126180
QUESTION_TEXT
What are advantages of Print media advertising
Newspaper:
1.
These are published in different language
2.
Published in regional languages
3.
Cheaper
SCHEME OF EVALUATION 4.
5.
Space on need and cost
Short life
Magazines:
1.
Published weekly, fortnightly, monthly etc
2.
Needs of different readers
3.
Language life
4.
Comparatively cheaper
5.
Lack of flexibility
QUESTION_TYPE
DESCRIPTIVE_QUESTION
QUESTION_ID
126181
QUESTION_TEXT
What is buying center? What roles do people play in buying center?
A major task of an industrial marketer is to identify those individuals
who are in anyway involved in purchasing decision process. These
decision making units are called buying centers. Buying centers can be
an individual, a dept., or a group of individuals from different
departments in the organizations.
SCHEME OF
EVALUATION
Buying centers play seven roles:
1.
Initiators: these are the people who request for something to be
purchased. They may be users or others in the organization.
2.
Users: The use the products and thus initiate the purchase process.
They report on the product’s performance
3.
Influencers: Individuals in the organization influence the decision
making process by providing information on the criteria for
buying.
4.
Deciders: Organizational members with decision making power
who decide about purchase
5.
Gatekeepers: People in the organization who have the power to
prevent sellers or information from reaching the members of
buying centers.
6.
Approvers: People in the organization who authorize the proposed
actions of deciders or buyers
7.
Buyers: People who have formal authority to select the suppliers
and arrange the purchase terms. Buyers help in product
specification, selection of suppliers, and negotiating purchases and
include senior people in the purchase department.