Marketing and Branding Question Paper

7/21/2019 Marketing and Branding Question Paper

1/16

MARKETING AND BRANDING

Question Bank 2 marks

1. Name any two methods of spa marketing.

Ans. Charitable events and shopping events

2. What are the two factors of spa marketing which help to attract the local consumers?

Ans. Club membership and oyalty rewards.

!. "ive any two e#amples of marketing methods to advertising campaign.

Ans. $lyers and posters

%. What are the % &'s of marketing mi#?

Ans. &roduct( &rice( &lace( &romotion.

). Name the identify target market which is to be decide with the help of age and gender.

Ans. *emographic market

+. Write the elements of &romotional mi#.

Ans. Advertising( ,ales promotion( &ersonal selling( &ublic relation( &ublicity( -isualerchandising

/. What do you mean by 0rand?

Ans. A name( term( sign( symbol or design used to identify the products of one firm and todifferentiate them from competitive offerings.

. Name ant two criteria of choosing good brand element

Ans. emorability and ransferability

3. What are the strategies to designing marketing programs to build brand e4uity?

Ans. &roduct strategy( &rice strategy( *istribution5 Channel strategy

16. *efine brand e#tension.

Ans. A common method of launching a new product by using an e#isting brand name on a new product in a different category.

11. Name the new marketing method which is not consider under traditional marketing tool.


2/16

Ans. "uerilla arketing

5 Marks

12. *efine marketing concept.

Ans. he term market originates from the atin word arcatus which means a place where business is conducted. A layman regards market as a place where buyers and sellers personallyinteract and finali7e deals.

American Marketing Association ( 13% 8 9 arketing was the performance of business activitiesdirected toward( and incident to the flow of goods and services from producer to consumer:.

1!. Write a short note in promotion.

Ans. Any form of communication a business or company uses to inform( persuade( or remind people about products and to improve its image. ;t is how you let people know what you've gotfor sale. he purpose of promotion is to get people to understand what your product is( what theycan use it for( and why they should want it.

here are different types of promotion &ublicity is something that Ehappens' to a company and the result may be goodor bad. &ublic relations or &I@ involve a sustained attempt to develop your reputation as a

business by using the media to help create the image you desire. ;t is a way of keeping the business in your customers' eyes.

"ersonal Selling0 &ersonal selling is define as 9the face to face process of a companyrepresentative or small group of representatives@ and a customer identifying customer problemsand solving them through the purchase and application of the representative's products.:

Sales "romotion0 ,ales promotion is a key ingredient in marketing campaigns. We define it asfollows< Sales promotion consists of a diverse collection of incentive tools( mostly short term(designed to stimulate 4uicker or greater purchase of particular products or services by consumersor the trade. Whereas advertising offers a reason to buy( sales promotion offers an incentive to

buy.

Direct Marketing0 *irect marketing in which advertising( telephone sales( or other communications are used to elicit a direct response( such as an order by mail or phone( alsocalled direct response retailing.

T& es o+ sales task

,ales tasks vary significantly from one company or situation to another( but it usually includesthree basic tasks< order processing( creative selling( and missionary selling.

r!er rocessing# he task of order processing involves the receipt and handling of an order. Needs are identified and pointed out to the customer( and the order is processed. he handling of orders is especially important in satisfying customer needs.

$reati%e selling . ,ales representatives for most industrial goods and some consumer goods areinvolved in creative selling( a persuasive type of promotional presentation. Creative selling isused when the benefits of a good or service are not readily apparent and its purchase is being

based on a careful analysis of alternatives. ;n new product selling( sales people need to be verycreative if initial orders are to be secured.


9/16

l e m e n t s t ol e v e r a g i n g

n de a s u r i n g

r a n d E q u i t y

i li

rn

iy

l

i

ili

I

i

i

i

cu

i r ig

n i cn

i n

or

i

grn qi t

l

i

ili

I

i

i

i

cu

i r ig

n i cn

i n

i

a

iy

l

i

ili

I

i

i

i

cu

i r ig

n i cn

i n

Missionar& selling . An indirect form of selling in which the representative markets the goodwillof a company or provides technical or operational assistance to the customer is called missionaryselling. $or e#ample( many technically based organi7ations( such as ;0 and Bero#( providesystems specialists who consult with their customers.

22. ow can we leverage and measure brand e4uity?

Ans. here are three ways to leverage brand e4uity< firstly building it( secondly borrowing it( or thirdly buying it. ;ncreasingly( 9building: brand e4uity is not easy > given the proliferation of

brands and the intense competition that is prevalent in many industries.

A# Buil!ing ,ran! e/uit&

0rand e4uity is built firstly( by creating positive brand evaluations with a 4uality product(secondly( by fostering accessible brand attitudes to have the most impact on consumer purchase

behavior( and thirdly( by developing a consistent brand image to form a relationship with theconsumer.

he first element in building a strong brand is a positive brand evaluation. Juality is thecornerstone of a strong brand. A firm must have a 4uality product that delivers superior

performance to the consumer in order to achieve a positive evaluation of the brand in theconsumer's memory. hree types of evaluations can be stored in a consumer's memory *etermine the competitive strengths and weaknesses of the brand. A specific 0rand *iscount Iate that reflects the risk profile of its e#pected future earningsis derived via a E0rand ,trength ,core.' his measure comprises e#tensive competitive

benchmarking and a structured evaluation of the brand's market( stability( leadership position(growth trend( support( geographic footprint and legal protect ability.

). Bran! 8alue $alculation > Calculate the 0rand -alue as the net present value N&-@ of theforecast 0rand =arnings( discounted by the 0rand *iscount Iate. he N&- calculationcomprises both the forecast period and the period beyond( reflecting the ability of brands tocontinue generating future earnings.


16/16

$ustomer Min!set

he marketing activity associated with the program then impacts the 9customer mindset: withrespect to the brand > what they know( think( and feel about the brand. =ssentially( the issue is( inwhat ways have customers been changed as a result of the marketing program? ow have those

changes manifested themselves in the customer mindset? he customer mindset includeseverything that e#ists in the minds of customers with respect to a brand > thoughts( feelings(e#periences( images( perceptions( beliefs( attitudes( etc> as outlined above in terms of sources of

brand e4uity. o capture differences in brand knowledge structures( a number of hierarchy of effects models have been put forth by consumer researchers through the years e.g.( A;*A( for Awareness ;nterest *esire Action@. Customer mindset or knowledge can be largely captured byfive dimensions that have emerged from prior research that form a hierarchy or chain( from

bottom to top as follows

Documents

Marketing and Branding Question Paper