MKT501 Final Term Subjective 2011

Rana Abubakar Khan

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Differentiate between Operationalization and Conceptualization

•  Conceptualization means the process of converting vague mental images into definable concepts.
•  Operationalization is the process of converting concepts into specific observable behaviors that a researcher can measure. Precision refers to the exactness of any given measure.

Name selling techniques

1. Prospecting

• Referrals
• Qualifying

2. Presentation

• Questions
• Selling the sizzle

3. Closing

• Pre-closing questions
• Tie downs

4. Handling objections
5. Confidence
6. Empathy

• Reading people

How can a company motivate channel members?

It is difficult enough to motivate direct employees to provide the necessary sales and service support.

Motivating the owners and employees of the independent organizations in a distribution chain requires even greater effort. There are many devices for achieving such motivation. Perhaps the most usual is `bribery': the supplier offers a better margin, to tempt the owners in the channel to push the product rather than its competitors; or a competition is offered to the distributors' sales personnel, so that they are tempted to push the product. At the other end of the spectrum is the almost symbiotic relationship that the all too rare supplier in the computer field develops with its agents; where the agent's personnel, support as well as sales, are trained to almost the same standard as the supplier's own staff. How automation systems can be used to see the performance of the sales force.

Sales Force Management Systems are information systems used in marketing and management that automate some sales and sales force management functions. They are frequently combined with a marketing information system, in which case they are often called customer relationship management systems.

Differentiate between observational and experimental technique in marketing research.

Observational Techniques - the researcher observes social phenomena in their natural setting - observations can occur cross-section ally (observations made at one time) or longitudinally (observations occur over several timeperiods) - examples include product-use analysis and computer cookie traces.

Experimental Techniques - the researcher creates a quasi-artificial environment to try to control spurious factors, and then manipulates at least one of the variables - examples include purchase laboratories and test markets.

Differentiate between public relation and publicity.

•  Publicity is a tool of public relations. Whereas public relations are the management of all communication between the client and selected target audiences, publicity is the management of product- or brand-related communications between the firm and the general public. It is primarily an informative activity (as opposed to a persuasive one), but its ultimate goal is to promote the client's products, services, or brands.
•  Publicity is the means of using an external entity (celebrities, people from the media, etc) to increase the awareness levels of the product, company, goods etc amongst the public and/or buying segment. “Publicity is the deliberate attempt to manage the public's perception of a subject”.

How you evaluate that Billboard placement can be possible? 3 marks

“A Billboard or Hoarding is a large outdoor signboard, usually wooden, found in places with high traffic such as cities, roads, motorways and highways. Billboards show large advertisements aimed at passing pedestrians and drivers”.

The vast majority of billboards are rented to advertisers rather than owned by them.