MGT301 Assignemnt # 1 Solution

Q: You are the marketing manager of a company. You are going to introduce a new product in the market. You have to perform a marketing research in order to analyze the consumer demand. Explain any four methods by which you can collect the data necessary for conducting your research? Also explain the advantages associated with using these methods? (5*4 = 20 Marks)
Research Method = 1 Mark
Advantages = 4 Marks
The marketing manager can utilize various methods to collect information from its target market. Some of these methods are as follows:
1. Mail questionnaires are used to collect large amounts of information at a low cost.
Advantages:
The responses are gathered in a standardized way, so questionnaires are more objective, certainly more than interviews.
Generally it is relatively quick to collect information using a questionnaire. However in some situations they can take a long time not only to design but also to apply and analyze.
Potentially information can be collected from a large portion of a group. This potential is not often realized, as returns from questionnaires are usually low. However return rates can be dramatically improved if the questionnaire is delivered and responded to in class time.
2. Telephone interviewing is good method for collecting information quickly.
Advantages:
High speed
Saves cost
Callbacks
Can use computerized random digit dialing
Expanded geographic area coverage without increasing the cost
Use fewer but highly skilled interviewers
Reduced interviewer bias
Better access to hard-to-reach respondents through repeated callbacks
Use computer assisted telephone interviewing (CATI)
3. Personal interviewing (Individual or group interviewing).
A form of personal interviewing is "focus group interviewing". Focus-group interviewing consists of inviting six to ten people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. The interviewer "focuses" the group discussion on important issues.
Advantages:
The opportunity for feedback
Probing complex questions
Length of interview
High completion rate
Visual aids
High participation rate
Observation of the non-verbal behavior
Non-literates can participate in study
Interviewer can prescreen respondent
4. Online (Internet) Research can consist of internet surveys or online focus groups. Many experts predict that online research will soon be the primary tool of marketing researchers.
Advantages:
Speed and cost effectiveness
Visual appeal and interactivity
Accurate real-time data capture
Callbacks
Personalized and flexible questioning
Respondent anonymity

MGT301 GDB Solution

“If you are working as a marketing manager in a multinational mobile manufacturing company and your company wants to introduce a new brand of mobile. What factors you will consider while setting your pricing strategy? Discuss any three factors which may affect your price-decision?”
GDB) Multinational Mobile Company being a marketing manager the factor which I think for pricing will be cost, competition and organizational considerations. (1) COST: Cost has to be calculated backwards from the target price which the consumer is ready to pay for the proposed mobile. Cost is a consideration when the product has to be priced to achieve the required target so, we cannot put the target price which cannot cover the cost at minimum. (2) Competition: In lot of mobile companies around the world are posting a threat. Competitors are providing lot of packages with mobile purchasing. So, to survive one has to be competitive both in pricing as well as in product offered. (3) Organizational considerations: Due to competition of mobile companies every company is going to negotiate about special packages that can be offered. Now days, mobile companies are offering mobile with free mobile connection by making liaison with mobile connection providers.

MGT301 Final Term Paper 2010

My MGT301 paperTotal Question was 5348 MCQS n 5 Long questionsWhy product Decline? Explain answer with reason, at least 3 reasons. (marks 3)Who is intermediary? Explain the role of marketing intermediary. (marks 3)What are the major benefits of Direct marketing? (marks 5)Describe different stages of new product development. Name these. (Marks 5)Two particular benefits of wholesaler one for supplier and one for Retailer. Explain the benefits of Supplier and Retailer. (Marks 5)

MGT301 Final Term Paper 2010

total question= 53TOTAL DURATION 90 MINUTES48, mcqs2, short question 3 marks each 3, long question 5 marks each short question:3*21. What is consumer black box and how many thier parts?2. Why society oppose marketing programeslong question : 5*31.publicity is more power full as compare to advertising or sales promotion even public relation.2. advantages and disadvantages of personal selling3. public relationship management.Last edited by gull*** on 07 Aug 2010, 9:40 am, edited 1 time in total.