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- Question
Marketing organisation: As a consultant, what advice would you give a company while setting up its marketing department?
- Correct Answer
- As a consultant , I would: ? Recommend structuring of the marketing department as per the demands of the different tasks, roles and responsibilities keeping in mind the cost(budget) factor as long as it fits within the budget of the company ? Finding out and establishing the level of skills, duties and responsibilities of the employees via job descriptions and job specifications ? Proper and regular supervision of the department to ensure its smooth functioning ? Determine the marketing functions of the department as per the requirements (advertising,distribution channels,promotional activities)
- 1. Promotions and promotion mix : What is the difference between a marketing mix and a promotional mix? Discuss
- 2. If Average Total Cost is declining then
Options- A. The Marginal Cost is Less than Average Cost
- B. The Total Cost must also be Declining
- C. The Marginal Cost is Greater than Average Cost
- D. The Average Fixed Cost curve must lie above the average variable cost curve Discuss
- 3. What is Sales Order (SO)? Discuss
- 4. What is a Product Roadmap? Discuss
- 5. Concentrating the marketing efforts on one particular segment of consumers is known as ?
Options- A. Ambush Marketing
- B. Niche Marketing
- C. Content Marketing
- D. Cloud Marketing Discuss
- 6. Managing the sales force : For a new salesperson, what are his training needs? Discuss
- 7. Demand side market failures occur when
Options- A. supply curves do not reflect the full cost of producing a good or services
- B. demand curves do not reflect consumer?s full willingness to pay for goods or services
- C. government imposes tax on a good or a service
- D. a good or service is not produced because no one demands it Discuss
- 8. Productivity is the combination of
Options- A. efficiency and energy
- B. efficiency and effectiveness
- C. efficiency and attitude
- D. effectiveness and resources Discuss
- 9. Which of the following are examples of plagiarism? I. Using someone else's idea in your own writing, and including an in-text citation that links to a works-cited list. II. Using someone else's words in your writing without putting quotation marks around them. III. Reproducing a drawing or diagram without including information about where you found it.
Options- A. II only
- B. I only
- C. I and III only
- D. II and III only Discuss
- 10. Selecting and managing marketing channels : On what criteria can channel members be evaluated for their proper selection? Discuss
Marketing and Sales problems
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Correct Answer: A marketing mix and a promotional mix does have some differences, both being highly crucial for the success of a business Marketing is very essential for the growth and continuity of business operations It helps in creating new customers and retaining the existing ones to keep the business ongoing Marketing focuses on all the elements of the marketing mix viz product, price, place and promotion while promotion focuses more on the customer- how to reach a product to its customers and how to sell it to them ultimately
Correct Answer: The Marginal Cost is Less than Average Cost
Correct Answer: The Sales Order is a confirmation document sent to the customers before delivering the goods or services Sales Order (SO) can be created once the quote is accepted by your prospective customer and the Purchase Order (PO) is sent by the customer for further processing
Correct Answer: A Product Roadmap is a plan that matches short-term and long-term business goals with specific technology solutions to help meet those goals It is a high-level visual summary that maps out the vision and direction of your product offering over time 1 A product roadmap communicates the why and what behind what you're building 2 It's a guiding strategic document as well as a plan for executing the strategy 3 Roadmapping is the exercise of building a product roadmap Roadmaps can apply to new products or services or existing offerings
Correct Answer: Niche Marketing
Correct Answer: New salespersons needs: a) He needs to know the information on company history, its policies, rules and regulations etc b) Details about the product- its features, usage , demand c) Systems and procedures as followed by the company This may include the work timings, overimed, field work, work culture of that particular organisation etc d) Training on the basic ethics that need to be followed while selling a product e) He must know the basics of selling the different products of the company
Correct Answer: demand curves do not reflect consumer?s full willingness to pay for goods or services
Explanation:
Market failure arises because it is not possible for the market to correctly weight cost and benefits in a situation in which some of the cost is completely unaccounted.
Demand-side market failures happen when demand curves do not reflect consumer?s full willingness to pay for goods or services.
Supply-side market failures occur when supply curves do not reflect the full cost of producing a good or services.
Correct Answer: efficiency and effectiveness
Explanation:
Productivity is a result of the way that a business operates ? the result of the way that its people, business processes, different functional units and suppliers come together to meet the needs and wants of its customers.
Productivity is the combination of intelligent planning and focused efforts and hence, it is a combination of Efficiency and Effectiveness.
Efficiency :
Efficiency is an internal measure of performance for companies that shows how well the company converts inputs into outputs. The more the ratio of outputs to inputs approaches 100 percent, the better the efficiency of the process will be. In simple terms, it is ?doing things right? and comes from proper harnessing of time, cost and efforts.
Effectiveness :
Organizational effectiveness is an external measure of performance and indicates how well an organization fulfills the demands of various organizational stakeholders. Simply put, it is ?doing the right things."
Correct Answer: II and III only
Explanation:
Plagiarism is when you copy someone's work and try to pass it off as your own. Plagiarism can be a violation of copyright laws and can be considered cheating, resulting in you getting a failing grade or even being kicked out of school.
Correct Answer: The SCPCA method can be used to evaluate channel members a) Sales (S): How much sales each channel member can give within a cetain time frame b) Cost(C): How much cost would be incurred for each channel? c) Profitability(P): Which channel can give better profitability to the company? d) Control(C): Whether company can have better control over its channel members or not e) Adaptability (A): Whether the channel alternatives are flexible enough to any changes or not The channel meeting the objectives of the company is selected
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