Differentiate among culture, subculture and society
A culture is a group of people with common cultural ties, such as American culture for example. A subculture is a smaller group within a culture, such as goths, rednecks, etc.
subculture
is a group of people within aculture (whether distinct or hidden) which differentiates them from the larger culture to which they belong.
Society
generally refers to people who interact within a limited territory and share a culture which is the shared beliefs, values, behaviors, material objects, and knowledge of a particular people.
Types of Personality Traits
There are many different personality types, and it is sometimes difficult to classify a person into a single type as there are many different personality traits you can possess.
Personality traits are simply:
- Actions
- Attitudes
- Behaviors you possess
Personality Traits
Some personality traits are positive:
- Being honest no matter what the consequences are is one personality trait people should aspire to.
- Having responsibility for all of your actions and being a little bit of a perfectionism are also personality traits.
- Adaptability and compatibility are great and can help you get along with others.
- Having the drive to keep going, and having compassion and understanding are positive personality traits.
- Patience is a virtue and also another trait.
- Getting up the courage to do what’s right in those tough situations and loyalty to your friends and loved ones are laso personality traits.
How to implement positioning strategy
Strategy implementation is the strategy into organizational action so as to achieve strategic goals and objectives. Strategy implementation is also defined as the manner in which an organization should develop, utilize, and amalgamate organizational structure, control systems, and culture to follow strategies that lead to competitive advantage and a better performance.
. What do you know about marketing research and describe the 4 step in marketing research process
Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy.
4 Steps to Marketing Research
Marketing research is a four-step process consisting of defining the problem, developing a research plan, collecting information relevant to your product and writing up a final report or evaluation.
1. Defining the Problem
Defining the problem is more or less taking your product and service and finding out how that product or service will fit into the current marketplace
Defining the problem consists of two steps one is setting objectives, the measurable goals you wish to achieve. An example of an objective would be increased sales. The second is setting up specific measures of success, criteria used to figure out a solution to your problem.
2. Developing the Research Plan
The next step in marketing research is to develop the research plan. The research plan will allow you to sort out the details of which information you need to make a reasonable marketing decision.
3. Collect Information
methods you will use to collect data, you can start the actual data collection. When collection data make sure you collect only the type of data needed to make rational marketing decision. The data you collect will come from two sources; the primary data and the secondary data.
4. The Final Report
Once you have all the data that you need and have analyzed it to make sure it is relevant and pertains to our product or service, then you can write up the final report. The final report is simply a detailed document where you present your research findings and make recommendations based on those findings.
. Difference between demographics and geographic segmentations
Geographic segmentation is based on variables such as:
- Region: This kind of segmentation involves division of customer base by continent, country or state etc.
- Customer groups can also be formed on the basis of size of population of a particular region.
- Population density: urban, suburban, or rural
- Climate
This type of segmentation is mostly used by multi-national corporations or transnational businesses. Such firms operating across the boundaries alter their marketing mix based on the different requirements of consumers with in each geographic segment they operate in.
Demographic Segmentation includes: Age, Gender, Family lifecycle, Generation, Income, Occupation, and Education
Direct marketing; discuss the advantages of direct marketing? 5 marks
Direct marketing is a channel-agnostic form of advertising that allows businesses and nonprofits organizations to communicate straight to the customer, with advertising techniques that can include Cell Phone Text messaging, email, interactive consumer websites, online display ads, fliers, catalog distribution, promotional letters, and outdoor advertising
- help you build relationships with new customers
- test the appeal of your product or service
- tell you which marketing approaches reach your target market
- increase sales
How many stages are involved in adoption process.Discuss in detail? 5 MARKS
- Awareness – This is the area where major marketeers spend billions of dollars. Simply speaking, if you are not AWARE of the product, you are never going to BUY the product.
- Interest and Information Search – Once you are aware, you start searching for information. Whether it be your daily soap, your car or for that matter your home, you wont buy it unless you KNOW about it.
- Evaluation / Trial – Evaluation is wherein you test or have a trial of the product. This is pretty difficult in services as services are generally intangible in nature. However service marketing managers do find ways of offering Trial packs to users. Comparatively, it is pretty easier in Product marketing and finds a major usage in BTL ( Below the Line) sales promotion.
- Adoption – The actual adoption of the product. Wherein the consumer finally decides to adopt the product.
If a comapny ABC is goin to introduce a new product in tareget market what will be its positioning strategy? 3 MARKS
PRODUCT POSITIONING STRATEGY EXAMPLE
Start by defining each component of your product positioning provided in this example:
Pricing Example
Is your product a luxury item
Quality Example
What’s the overall quality of your product? How is your product positioning against the other products quality in your market?
Service Example
How does your strategy position your product in terms of service? Do you offer the added value of customer service and support How you deliver service to the customer is an important part of customer segments and customer relationships.
A good example of product service is support forums. Many companies are converting to these as means of service, and allow customers to help solve one anothers problems.
Distribution Example
What’s your strategy to help customers obtain your product? The channel or distribution is a very important part of product positioning. You need to make it easy for customers to find your product, and it needs to be easy to deliver your product.
Packaging Example
product packaging is very important in appealing to customers.
Product Positioning is really just a competitive strategy for your product or service. What’s the one thing you do best? What’s unique about your product or service? Identify your strongest strength and use it to position your product.
A large part of your success as an Entrepreneur involves defining your product positioning, and developing a strategy around this. Developing a product positioning strategy can be challenge for any business. Especially a new business or start up; but this can apply to businesses repositioning themselves in the market as well.
How would you classify customers according to their buying behavior based on the type of the product? 3 MARKS
A consumer search behavior model (SBM) is a data-driven process (Advanced Keyword Research) for classifying consumer behavior for each search query to a specific source, type or subject. It’s a reflection of the total consumer buying behavior experience for products and services in any single market segment, and should be one of the very first task executed during a product development cycle.
what are the initial three levels? when a producer is going to launch a new product in the market?
Methods
We used a relatively new method that investigates whether the questionnaire has the same meaning for the patients as for the researchers. To do this, 74 patients with advanced cancer filled out the questionnaire and participated in an open-ended interview. The patients’ responses to the questionnaire before the interview were compared against the researchers’ responses based on the interviews. Items showing substantial agreement were accepted as valid without further analysis. For the remaining items, reasons for disagreements were analyzed qualitatively.
Results
All items on problem intensity, eight of 12 items on problem burden, and three of 12 items on felt need were accepted as valid because of high agreement. Analysis of the qualitative data concerning the remaining items showed that most disagreements did not indicate problems with the patients’ self-assessment. Instead, different causes for disagreements were elucidated, but these did not interfere with validity.
Conclusion
The 3LNQ appears to measure palliative needs comprehensively, and this initial validation showed satisfactory results. The analysis gave important insights into the patients’ perceptions of their own situations, into their expectations of the health care system, and into the complexity of needs assessment.
what is secondary data? what are the problems in gathering the secondary data?
Secondary data is information gathered for purposes other than the completion of a research project. A variety of secondary information sources is available to the researcher gathering data on an industry, potential product applications and the market place. Secondary data is also used to gain initial insight into the research problem.
Secondary data is classified in terms of its source – either internal or external. Internal, or in-house data, is secondary information acquired within the organization where research is being carried out. External secondary data is obtained from outside sources.
Secondary data, is data collected by someone other than the user. Common sources of secondary data for social science include censuses, organisational records and data collected through qualitative methodologies or qualitative research. Primary data, by contrast, are collected by the investigator conducting the research.
Secondary data analysis saves time that would otherwise be spent collecting data and, particularly in the case of quantitative data, provides larger and higher-quality databases that would be unfeasible for any individual researcher to collect on their own. In addition, analysts of social and economic change consider secondary data essential, since it is impossible to conduct a new survey that can adequately capture past change and/or developments.
Differentiate between idea generation and idea screening?
idea generation is the creative process of generating, developing, and communicating new ideas, where an idea is understood as a basic element of thought that can be either visual, concrete, or abstract
idea screening
A process used to evaluate innovative product ideas,strategies and marketing trends. Idea screening criteria are used to determine compatibility with overall businessobjectives
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