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AEREN FOUNDATION’S Maharashtra Govt. Reg. No.: F-11724
Name : UMER MUQUTHER S A Marks : 80
Course : Specialisation
Subject : Marketing Management
Answer the following question.
Question. 1. Explain Psychological Pricing.
Answer:Psychological pricing(alsoprice ending,charmpricing) isapricing/marketingstrategybased
on the theory that certain prices have a psychological impact. Retail prices are often expressed as
"odd prices": a little less than a round number, e.g. $19.99 or £2.98. There's evidence that
consumerstendtoperceive “oddprices”asbeingsignificantlylower than they actually are, tending
to roundto the next lowest monetary unit. Thus, prices such as $1.99 are associated with spending
$1 rather than $2. The theory that drives this is that lower pricing such as this institutes greater
demand than if consumers were perfectly rational.
Question.2. What is Inventory Management
AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-
SCHOOL

2. Answer:Inventorymanagement orStock management is a discipline primarily about specifying the
shape and placementof stockedgoods.Itisrequiredatdifferentlocationswithin a facility or within
many locations of a supply network to precede the regular and planned course of production and
stock of materials.
The concept of inventory, stock or work-in-
Question.3. Define the term Marketing Mix. Explain the significance
of appropriate marketing mix in the present
competitiveenvironment. Cite examples to support your answer.
Answer:Marketingstrategyhasthe fundamental goal of increasingsalesandachievinga sustainable
competitiveadvantage.Marketingstrategyincludesall basic,short-term, andlong-term activities in
the fieldof marketing that deal with the analysis of the strategic initial situation of a company and
the formulation,evaluationandselectionof market-orientedstrategies and therefore contribute to
the goals of the company and its marketing objectives.
The distinction between “strategic” and “
Question.4. Present the factors that influence the pricing strategy
of an organization .Which among them are non – controllable
?Why?
Answer:An enormous number of factors affect pricing decisions. A marketing manager should
identifyandstudythe relevantfactors affectingthe pricing.Some factorsare internal toorganisation
and,hence,controllable while other factors are external or environmental and are uncontrollable.
Factors are alsoclassifiedinterms of competition-related factors, market-related factors, product-
related factors, and so forth. However, we will consider internal and external factors affecting
pricing decisions. Due to these factors, price is set high or low, fixed or variable, and equal or
discriminative. Figure 2 shows a list of internal and
Question.5. Advertisement expenses are usually wasteful, with no
guarantee of enhanced sales or higher loyalty from among
thetarget audience” .Do you agree with this statement ?Present
your view – point.
Answer:Ina competitive economy,companies seektopersuade consumers to buy their products or
to avail their services. It is impractical to think that companies should only stock their warehouses
and waitfor consumerstocome knockingontheirdoors.If this is what businesses did, there would
be an economic waste in terms of products being produced but not being bought.

3. The critics of advertising attack the form of
Question.6. What is Price sensitivity?
Answer:Price sensitivityisthe degree towhichthe price of a product affects consumers' purchasing
behaviors. In economics, price sensitivity is commonly measured using the price elasticity of
demand.Forexample,some consumers are not willing to pay even a few extra cents per gallon for
gasoline, especially if a lower-priced station is nearby.
The price sensitivity of a product varies with the level of importance consumers place on price
relative tootherpurchasingcriteria.Forexample,customersseeking top quality goods are typically
less price sensitive than bargain hunters.
Elasticity of Demand
Question.7. What do you mean by the term Physical Distribution?
Explain briefly the nature & importation in the sphere ofphysical
distribution
Answer:Physical distributionisthe groupof activitiesassociatedwiththe supply of finished product
from the production line to the consumers. The physical distribution considers many sales
distributionchannels,suchaswholesale andretail,andincludescriticaldecisionareas like customer
service, inventory, materials, packaging, order processing, and transportation and logistics. You
often will hear these processes be referred to as
Question.8.R.K.Industries Ltd., intends to launch a new folding
exercise cycle in Indian market. As a marketing manager
whichsteps would you like to take while launching this product?
How will you conduct the test marketing for this product.Make
necessary Assumptions and justify your answer.
Answer:In some cases, the product will be a direct revenue generator, and in other cases, the
product will be a new platform for B2B business transactions.
In the firstscenario – where the productisintendedtobe a directrevenue generator – the software
needs to be positioned for sale. In the second scenario, rapid user adoption and acceptance is the
goal. In either case, however, a well planned
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4. or
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