Elaborate on the Relevance and Scope of Marketing Research in Supplementing and Complementing the Marketing Activities in Accomplishing the Marketing Goals of a Firm

ASSIGNMENT – 1

MARKETING MANAGEMENT (COL MBA)

Q. 1. Discuss the various characteristics of services that make them unique from product. Briefly explain the implications of these characteristics in designing suitable Marketing Strategy for any two service offerings of your choice.

Q.2. The success of a firm largely depends on the right blending of marketing Mix elements. Discuss with two recent examples of your choice.

Q.3. Explain the term Pakistani Consumer Market. Collect and compile the updated information on Pakistani consumer environment from various secondary sources and comment on it’s impact on market opportunities available.

Q.4. Discuss the situation / major factors that warrant the need for New Product Development (NPD) initiatives in the following:

i) A Telecom Company

ii) Small Car Manufacturer

Q.5. (a) What pricing strategy would you recommend in the following situations? Justify;

i) New Brand of Bottled Water

ii) Cinema Tickets

(b) Elaborate on the relevance and scope of Marketing Research in supplementing and complementing the marketing activities in accomplishing the marketing goals of a firm. Solution :

Marketing research is the systematic gathering, recording, and analysis of data about issues

relating to marketing products and services. The goal of marketing research is to identify and assess how

changing elements of the marketing mix impacts customer behavior. For marketers, research is not only

used for the purpose of learning, it is also a critical component needed to make good decisions. Market

research does this by giving marketers a picture of what is occurring (or likely to occur) and, when done

well, offers alternative choices that can be made. For instance, good research may suggest multiple

options for introducing new products or entering new markets. In most cases marketing decisions prove

less risky (though they are never risk free) when the marketer can select from more than one option....