Marketing Management Short Question And Answer
Marketing Management Short Question And Answer
- What is behaviour segmentation?
Answer:- Behavioral segmentation is defined as the process of dividing the total market into smaller homogeneous groups based on customer buying behaviorlike usage frequency, brand loyalty, benefits needed, during any occasion etc.
- What is a brand name?
Answer:- A brand name is a name applied by a manufacturer or organization to a particular product or service.
- What is a direct channel?
Answer:- A direct channel of distribution defines a condition in which the producer sells a product to a consumer directly, without any assistance.
- Describe introduction stage.
Answer:- When a product enters the life cycle, it faces many obstacles. Although competition may be light, theintroductory stage usually features frequent product modifications, limited distribution, and heavy promotion. The failure rate is high. Production and marketing costs are also high, and sales volume is low. Hence, profits are usually small or negative. This is the first stage of every product lifecycle
- Describe growth stage.
Answer:- If a product survives the introductory stage, it advances to the growth stage of the life cycle. In this stage, sales grow at an increasing rate, profits are healthy, and many competitors enter the market. Large companies may start to acquire small pioneering firms that have reached this stage. Emphasis switches from primary demand promotion to aggressive brand advertising and communicating the differences between brands. This is the second stage of every product lifecycle
- Describe maturity stage.
Answer:- After the growth stage, sales continue to mount—but at a decreasing rate. This is the maturity stage. Most products that have been on the market for a long time are in this stage. Thus, most marketing strategies are designed for mature products. One such strategy is to bring out several variations of a basic product (line extension). This is the third stage of every product lifecycle.
- Describe saturation stage.
Answer:- This is the fourth stage of every product lifecycle and this is where customers have other preferences that are cheaper and better. When saturation occurs, a product starts to decline. It is the stage where a company designs a particular product to meet specific demands of the market.
- Describe decline stage.
Answer:- When sales and profits fall, the product has reached the decline stage. The rate of decline is governed by two factors: the rate of change in consumer tastes and the rate at which new products enter the market. This is the fifth and last stage of every product lifecycle
- Give five examples for online store.
Answer:- Amazon, Flipkart, Snapdeal, Myntra, Club factory.
