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Q:

Managing direct and online marketing :

What is direct marketing? Give some examples.

Answer

In direct marketing, there is a direct interaction of the customers with the seller without any intermediaries. Here, the role of the intermediaries is nil. The medium used is more direct using telephone, mail, internet where the seller can directly reach out to the consumer. Examples of such marketing include telemarketing, email, voicemail marketing, door-to-door selling etc. This kind of marketing is more time saving as the problem of distance which may otherwise exist between the buyer and seller is eliminated and is also cost effective as it minimizes commuting costs.

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Q:

Managing advertising, sales promotion and public relations :

what is public relations in marketing?

Answer

Public relations includes promotional activities that work to create a strong public image of the company. Public relations activities include helping the public to understand the company and its products. Public relations if done right can reach a large audience without the expensive cost of traditional advertising and marketing.

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Q:

Managing advertising, sales promotion and public relations:

What according to you is sales promotion?

Answer

We can say that sales promotion is a cost effective technique by which an organisation can achieve its sales volume or the marketing objectives by providing value added product and not just an ordinary product to the end user or even the intermediaries. It is short term by nature and is suitable enough for generating sales within a short span of time. Sales promotion techniques are being increasingly used by retailing organisations some of which include advertising, providing discounts and allowances or a 'buy one get one free offer' etc.

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Q:

Managing retailing, wholesaling and market logistics :

What are the essential characteristics of retailing?

Answer

a.Direct interaction with customers: The retailer acts as the final link between the organisation and its customer. The retailer knows his customer better than anyone. He even suggests the customer what to purchase and allows him credit facilities to encourage frequent buying behaviour in the customer.


b.Small purchases: The customer purchases goods in small lots from the retail stores. So there are frequent visits to the retail store by the customer.


c.Instrument of marketing communication: via which information about the product is disseminated to the needy customers

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Q:

Managing retailing, wholesaling and market logistics :

What is logistics management?

Answer

Logistics management is the part of supply chain management that plans, implements, and controls the efficient, effective, forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet customer's requirements.


 


 

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Q:

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!

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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Q:

Promotions and promotion mix :

What is the difference between a marketing mix and a promotional mix?

Answer

A marketing mix and a promotional mix does have some differences, both being highly crucial for the success of a business. Marketing is very essential for the growth and continuity of business operations. It helps in creating new customers and retaining the existing ones to keep the business ongoing. Marketing focuses on all the elements of the marketing mix viz product, price, place and promotion while promotion focuses more on the customer- how to reach a product to its customers and how to sell it to them ultimately

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Q:

Designing pricing strategies and programs :

How do buyers respond to price changes?

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.

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