MGT301 Final Term Solved Subjective

MGT301 FINAL TERM SOLVED SUBJECTIVE BY MEHRAN ALI SHAH

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Question: E-commerce (electronic commerce or EC) is the buying and selling of goods and services on the Internet, especially the World Wide Web. What do you know about the benefits of using E-Commerce to buyer and seller?

Answer: Benefits of E-Commerce to Buyer:

• Easy and private
• Convenience
• Greater product access
• Easy to compare products
• Interaction is easy and immediate

Benefits of E-Commerce to Sellers

• It builds relationship between consumer and seller
• Increased speed and efficiency
• Flexibility
• Access and reach is global
• Cost is reduced

Question: Sales promotion is one of the methods of promoting the product in the market. How would you describe it and how many types of Sales Promotion?

Answer: SALES PROMOTION: Sales promotion is offering of short-term incentives to the buyers to purchase a product or use a service. It forces the buyer to do the purchase now.

Types of Sales Promotion:

There are a total of nine types of sales promotion offers.

• Samples: Samples are offers of a trial amount of a product .It is a way to introduce a new product.
• Coupons: These are certificates that give buyers a saving when they buy a product.
• Premiums: These are goods offered for a free or at a low cost.
• Patronage rewards: These are cash or other awards offered for a regular use of a product.
• Cash refunds: It is a reduction in price after purchase not at the retail outlet.
• Point-of-purchase promotion: In point of purchase promotion a display and demonstration is taken place at the point of purchase.
• Advertising specialties: These are useful things on which the name of advertiser is written and given to buyers as a gift.
• Price Packs: They offer a saving off the regular price of product. Reduced price is marked by the producer directly on the label.
• Contests: Contests give consumer the chance to win something.

Question: When choosing a distribution strategy a marketer must determine what value a channel member adds to the firm’s products. So marketer must assess the benefits received from utilizing a channel partner. Discuss the benefits Offered by Channel Members in detail?

Answer: DISTRIBUTION/MARKETING CHANNEL: Marketing channel or distribution channel is a set of independent organizations who are involved in the process of making the product available to the consumers. Each member in the distribution channel adds a value to the supply chain. Therefore they must be managed well to achieve maximum benefit.

Benefits offered by channel members:

The channel members offer a number of benefits which are as follows

• Matching · • Contact · • Negotiation · • Promotion · • Physical distribution

marketing?

Answer: DIRECT MARKETING: Direct marketing is the act of narrowly targeting and one to one marketing. Its main aim is to develop long term customer relationship. The marketers interact with customers on a one to one basis. There are various forms of direct marketing.

Advantages of direct marketing:

• It is a strong way of building long term customer relationship.
• It is convenient
• The buying process becomes easy
• It reduces cost and increase efficiency.
• It provides an easy way to compare products
• Greater reach to products

Question: Retailers may offer one of three levels of service. Describe the types of retailers on the basis of services they offer?

Answer: Retailers are divided into 2 groups, store retailers and non store retailers. The services which store retailer performs are the product line sold, retail organization format, control of outlets and relative prices charging. The service which non store retailers perform are they do door to door selling, direct marketing, telephone and TV shopping shows. Online services and internet Etc.

Question: What do you understand by the term “Communication”, how many element are in communication process. Enlist those elements with a brief explanation.

Answer: Communication: it is a process of sending and receiving messages and getting a response. In communication process there are the following 7 elements. Message: it is the data which sender wants to transmit Media; it is a channel or medium used for communication. For example, internet, phone or letter. Decoding is a process in which the receiver translates the message of sender into its original form. Receiver is the person who receives the sender's message. Response is the reaction of the receiver after he receives the message. Feedback is the message of the receiver to the sender. Noise is the distorted or barriers in the communication process.

Question: Decision of the Pricing is very critical for marketers in today’s market, how would you explain this concept of Price and write alternate names that you can call the price? Are pricing for profit organization or for non-profit organization? Discuss it.

Answer: There are the following factors which are considerable when sitting a price. Price are in different types, for example, tax, rate, fees, tuition, interest, fare, toll etc. Internal factors: marketing objectives, marketing mix strategy, costs, organizational consideration. External factors: nature of market and demand, competition, environmental factor i.e. economic and government. Both profit and non profit organization use pricing strategies.

sales force?

Answer: Sales force: sales force are those people who represent the company to the costumers and act as an intermediary linking costumers to the company. Mr. Danish will first analyze the sales force. After that he will plan, implement and control the sales force. In alkalizing of sales force Danish will select the best sale force that are initiative, self confident and enthusiastic he will train his sales force according to the rules and regulation of the company. Compensation is also very important for sales force. By supervision Danish can motivates the sale force.

Question: What do you understand by the term Logistics and enlist the logistics functions?

Answer: A value added flows from suppliers to final users Major functions include

Order processing · Warehousing · Inventory Management

Transportation.

Question: If you think of your store as a doorway and just on the other side of the doorway is your customer who is reluctant to enter in the shop. How do you get them to come in? You can choose to pull the prospect through the door or you can push them through the