CUSTOMER_CODE SMUDE DIVISION_CODE SMUDE EVENT_CODE OCTOBER15 ASSESSMENT_CODE MB0046_OCTOBER15 QUESTION_TYPE DESCRIPTIVE_QUESTION QUESTION_ID 9788 QUESTION_TEXT Explain the marketing research process 1.Identify the marketing problem (2 Marks) 2.Developing marketing research plan (2 Marks) 3.Designing marketing research strategy (2 Marks) SCHEME OF EVALUATION 4.Collection of data (2 Marks) 5.Analysis of collected data (1 Mark) 6.Preparation of report (1 Mark) QUESTION_TYPE DESCRIPTIVE_QUESTION QUESTION_ID 9789 QUESTION_TEXT Explain the Maslow’s need Hierarchy Theory 1.Physiological needs (2 Marks) 2.Safety needs (2 Marks) SCHEME OF EVALUATION 3.Social needs (2 Marks) 4.Esteem needs (2 Marks) 5.Self-actualization needs (2 Marks) 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 126176 QUESTION_TEXT Discuss the bases of market segmentation. Bases for Segmenting Consumer Markets Marketers use more than one base to segment the market and identify the target market. The method of segmentation will vary in a businessto-business market than in individual consumer markets. Following are the common bases of marketing segmentation. 7.6.1 Geographic segmentation This is the simplest form of segmenting the market. Here, the marketer divides the target market into different geographical units such as nations, states, and regions. He/she may decide to operate in one or more than one geographical areas. Segmentation of customers based on geographic factors is as follows: SCHEME OF EVALUATION Region – Segmentation by continent/country/state/district/city. Size – Segmentation on the basis of size of a metropolitan area as per its population. Population density – Segmentation on the basis of population density such as urban/sub-urban/rural, etc. Climate – Segmentation as per climatic condition or weather. 7.6.2 Demographic segmentation While it is easy to find and group people living in one geographic location, there may be a large variation in their demographic characteristics. Since consumer needs, wants, and demand patters are directly linked with demographical variables, this method of segmentation is popular among marketers. Segmentation of customers based on demographic factors is as follows: Age (dominant factor) – The age of a person is one of the basis of segmentation. For example, the product segmentation is done by Titan according to different age groups of people. Titan designed a sub-brand, Fastrack. These watches are basically for young, vibrant, and cool outgoing young generation. While for older person and professional it has created the steel series watches, Sonata. Income (dominant factor) – Income level of a person is also a basis of segmentation. For example, Titan watches offered Aurum and Royale in the gold/jewellery watch collection with the price ranging between ` 20000 to `1 lakh for upper class segment. Titan offered Exacta range in stainless steel, aimed at resisting the rigours of daily life for the middle segment. This range offers 100 models with the price ranging between ` 500 to ` 700. Titan presented the Sonata range for the third segment. The price range was between ` 350 to ` 500. Purchasing power (dominant factor) – Purchasing power of the buyer is one of the significant basis for segmentation. Examples of various car segments on the basis of purchasing power are as follows: Budget car segment – This segment is the biggest in the Indian market. The entry level of this segment begins from ` 1.5 to 3 lakh. Maruti 800 and Omni are the leading players in these segments. The viewpoint of this segment has changed with the launch of Tata Nano with a price range of 1 lakh. Small car segment is another name for this segment. In Indian market, there is highest competition in this segment. Compact car segment – This segment lies among budget car and family car. The price range preference is between ` 3 to 4.5 lakh. Maruti Zen, Fiat Uno, Tata Indica, and Santro is some of the leading players of this segment. Family car segment – The buyer’s purchasing power in this segment is rather higher than the budget and compact car segment. The price range of this segment is between ` 4.5 to 6 lakh. Maruti Esteem, Daewoo Cielo, and HM Contessa comes under this segment. In India, cars that are sold under the head ‘budget car’ and ‘compact car’ do not meet their purpose, especially in terms of space shifts to ‘family car segment’. Premium car segment – The purchaser who wants a true world class luxury car comes under this segment. Price range of this segment is between ` 6 to 8 lakh. A few main cars of this segment are Ford Escort, Honda City, Mitsubishi Lancer, Audi 1800, Opel Astral, etc. Super luxury saloon segment – This segment consists of buyers who look for a real, super premium car. Some of the major cars of this segment are Mercedes Benz E229, E-250, Rover Montego, Audi 6, BMW. In Indian market, this is a small segment. 1. 2. 3. 4. 5. 6. 7. Occupation Gender - Goods may be segmented for male and female Family size Family life cycle Nationality Religion Education - Primary, high school, secondary, college, and universities Psychographic segmentation Other than the demographic methods of market segmentation, segmentation on the basis of psychography is another popular method among marketers. Psychographics is the study of lifestyle of individuals. It involves developing sub-group identification on the basis of psychographical characteristics. Lifestyle is a way of living. It reflects a person’s living as a combination of his actions, interests, and opinions. Behavioural segmentation In the case of behavioural segmentation, the market is divided on the basis of purchase decision and product or brand usage made by consumers. Dividing the market on the basis of variables such as use occasion, benefits sought user status, usage rate, loyalty status, buyer readiness stage, and attitude is termed as behaviouristic segmentation. Buyers can be identified according to the use occasion when they develop a need and purchase or use a product QUESTION_TYPE DESCRIPTIVE_QUESTION QUESTION_ID 126179 QUESTION_TEXT What is primary and secondary data? How it is gathered? SCHEME OF EVALUATION Primary data refers to original data derived from a new research study and collected at source, as opposed to previously published material. Whereas secondary data refers to data already collected for one use thatt is then utilised for another purpose. (2 marks) Primary data can be collected by the following four ways: 1. Census: -The method which data is collected from all the members of the population is called census. Every ten years, the government of India conducts census to record the population and its characteristics. 2. Survey:-To overcome problems posed by census method, many refreshers follow the survey approach. A survey is any research effort in which data is gathered systematically from a representative sample of population. This data can be collected by contacting respondents through telephone, mail, e-mail or through personal contact method. 3. Observation:It is a method of collecting primary data in which occurrences are observed. Marketers also use observational technique for data collection, particularly when they are interested in learning the ‘how’ behaviour. It can be personal, mechanical, natural or contrived techniques. 4. Experiments: Marketing researchers conduct experiments to discover he cause and effect relationships. An experiment allows a researcher to change variable inputs and then measure its effect on the dependent variable under controlled environment. (2 marks each) QUESTION_TYPE DESCRIPTIVE_QUESTION QUESTION_ID 126180 QUESTION_TEXT What are advantages of Print media advertising Newspaper: 1. SCHEME OF EVALUATION 2. These are published in different language Published in regional languages 3. Cheaper 4. Space on need and cost 5. Short life Magazines: 1. Published weekly, fortnightly, monthly etc 2. Needs of different readers 3. Language life 4. Comparatively cheaper 5. Lack of flexibility