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- Question
Selecting and managing marketing channels : On what criteria can channel members be evaluated for their proper selection?
- 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
- 1. 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
- 2. Productivity is the combination of
Options- A. efficiency and energy
- B. efficiency and effectiveness
- C. efficiency and attitude
- D. effectiveness and resources Discuss
- 3. 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
- 4. Managing the sales force : For a new salesperson, what are his training needs? Discuss
- 5. Marketing organisation: As a consultant, what advice would you give a company while setting up its marketing department? Discuss
- 6. Selecting and managing marketing channels : How are the channel members managed and motivated, once they are selected? Discuss
- 7. Selecting and managing marketing channels : What are the factors to be considered before deciding upon setting up a channel? Discuss
- 8. Designing pricing strategies and programs : How do sellers respond to price changes of their competitors? Discuss
- 9. Designing pricing strategies and programs : How do buyers respond to price changes? Discuss
- 10. Promotions and promotion mix : What about the budget? We want our promotional campaigns to be cost effective enough. I don?t think we can afford celebrity endorsements as of now! Discuss
Marketing and Sales problems
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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: 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: 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: 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: 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)
Correct Answer: These days channel members are being accepted by companies as their partners The intermediaries are even being asked to integrate their business with the companies which results in lesser costs, greater efficiency and improved customer service Corporates like Airtel are adopting PRM (Partner relationship management) software to give that added advantage to their supply chain They organise rewards and recognition programs for their channel partners and also organise proper channels though which partners can vent any of their grievances relating to payments, violation of codes etc
Correct Answer: aUnderstanding the customer profile : the tastes,preferences, habits of the customers may differ from person to person bDetermining the objective as to who would be the target market, whether the company wants to go for cost minimisation or not etc cType of channel members :Who all would be involved? Wholesalers, retailers? dThe criteria on which the channel members would be evaluated and selected eHow many intermediaries will be involved in the overall distribution?
Correct Answer: In the light of competition, it may be seen that competitors may initiate price changes If the cutting off on prices does not affect the company, then the current pricing strategy itself can be continued to maintain the profitability of the company However if the price change on one firm is affecting the other, then it can: areduce the product price at par with competitors? price or below competitors? price or b Provide added advantage to the existing product like better quality, or ?a buy one get one free? offer or cProvide better quality of the product at a higher price thereby not being at par with the competitors
Correct Answer: Depending upon the increase or decrease in price rates, buyers may respond accordingly Some buyers may assume that quality of the product may have reduced to to reduction in price or that the company may not be selling the product as per expectations The other assumption that buyers may make is that prices may go down in the future and so may delay purchase On the other hand increased price may lead to a decrease in demand as the product may be more costly for the consumers who may switch to another seller offering similar products at lower prices
Correct Answer: No problem We can use network marketing as an alternative The company already has its strong network of customers who can spread the word about its products They can encourage referral rewards for say every three customers who will buy our product or avail our service We can also announce a contest for the customers to buy the product and win a chance to get himself broadcasted for the product advertisement We can ask them to send in their photo along with the contest application form which they get alongwith the product they buy So we don?t have to pay them as we would otherwise have to pay to a celebrity
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