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Question
Answer the following question:
Why is the understanding of ‘Marketing Management Philosophies’ important?
Solution
An understanding of ‘Marketing Management Philosophies’ is important as it helps in determining the weightage to be given to different factors so that organisational objective can be achieved.
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RELATED QUESTIONS
Answer the following question.
JTM Ltd. launched 'Buddy line', an exercise book and comprehensive stationery brand name comprising of ball pens, gel pens, and geometry boxes after identifying the target market and understanding the needs and wants of the consumers of that market. All their products were of good quality and eco-friendly but expensive. They wanted to distinguish their products from that of their competitors. They spent a lot of effort, time, and money in creating the brand name, as they knew that without a brand name, they can only create awareness for the generic products and can never be sure of the sale of their products. The effort paid off and the demand for the products started growing. The customers liked the brand and became habitual to it. They did not mind paying a higher price. Over a period of time, it became a status symbol to buy the 'Buddy line' brand because of its quality. The consumers felt pride in using them.
Identify the marketing management philosophy followed by JTM Ltd.
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(i) Starting Point ;
(ii) Man Focus;
(iii) Means
(iv) Ends.
Point of view lays stress upon customers’ welfare.
Under which philosophy of marketing, efforts are made to bring down the cost of production to the minimum?
Under which concept the companies push for the betterment of the quality of their products in their efforts for marketing?
Mansi, a shoe manufacturer for school students, decided to maximize profits by producing and distributing shoes on a large scale and thus reducing the average cost of production. Identify the marketing management philosophy adopted by Mansi.
In order to promote the habit of health and hygiene among weaker sections of society, Abhyas Limited has launched low-cost packs of hand wash. Identify the type of marketing philosophy being adopted by the company
Sujhav Limited is a company dealing in various types of fire extinguishers. Considering the fact that people generally don’t buy fire extinguishers, the company undertakes aggressive sales promotion efforts in order to create and maintain demand for the product. Identify the type of marketing philosophy being described in the given case.
Madhubala is planning to launch an online education portal. In order to understand the varied needs of the students, she conducted an online survey. Based on the feedback of the survey, she has decided to offer educational packages to prospective buyers. Identify the type of marketing concept being described in the given lines.
Which one of the following is a marketing management philosophy?
Registering a trade mark gives to the users.
'Saarthi', the name has been associated with the manufacturing and sale of Fashion products since 1960, when Kapil Saarthi opened his first retail fashion clothing outlet in Ahmedabad. Sarthi Cosmetics was incorporated in India in 1940, and became a member of the S & M family of companies in 1959. Sarthi Perfumes began operations in Gujarat in an existing administrative S&M facility in 1985. An important difference between S&M and most other companies is that instead of operating as one large corporation it operates as 180 smaller companies each focused on a specific product and area, implying selective dispersal of authority, recognising the decision makers need four autonomy, as decision making authority is pushed down the chain of command. It enables the company to maintain short lines of communication with customers and employees, and accelerate the development of talent.
Why is there, need to apply the philosophy being followed by S & M, with caution?
'Saarthi', the name has been associated with the manufacturing and sale of Fashion products since 1960, when Kapil Saarthi opened his first retail fashion clothing outlet in Ahmedabad. Sarthi Cosmetics was incorporated in India in 1940, and became a member of the S & M family of companies in 1959. Sarthi Perfumes began operations in Gujarat in an existing administrative S&M facility in 1985. An important difference between S&M and most other companies is that instead of operating as one large corporation it operates as 180 smaller companies each focused on a specific product and area, implying selective dispersal of authority, recognising the decision makers need four autonomy, as decision making authority is pushed down the chain of command. It enables the company to maintain short lines of communication with customers and employees, and accelerate the development of talent.
The application of the philosophy discussed above can foster a sense of competition amongst the departments, which in turn will help the firm in the following manner.
'Saarthi', the name has been associated with the manufacturing and sale of Fashion products since 1960, when Kapil Saarthi opened his first retail fashion clothing outlet in Ahmedabad. Sarthi Cosmetics was incorporated in India in 1940, and became a member of the S & M family of companies in 1959. Sarthi Perfumes began operations in Gujarat in an existing administrative S&M facility in 1985. An important difference between S&M and most other companies is that instead of operating as one large corporation it operates as 180 smaller companies each focused on a specific product and area, implying selective dispersal of authority, recognising the decision makers need four autonomy, as decision making authority is pushed down the chain of command. It enables the company to maintain short lines of communication with customers and employees, and accelerate the development of talent.
Quote the line from above which highlights the importance of the philosophy towards providing management education to employees.
'Saarthi', the name has been associated with the manufacturing and sale of Fashion products since 1960, when Kapil Saarthi opened his first retail fashion clothing outlet in Ahmedabad. Sarthi Cosmetics was incorporated in India in 1940, and became a member of the S & M family of companies in 1959. Sarthi Perfumes began operations in Gujarat in an existing administrative S&M facility in 1985. An important difference between S&M and most other companies is that instead of operating as one large corporation it operates as 180 smaller companies each focused on a specific product and area, implying selective dispersal of authority, recognising the decision makers need four autonomy, as decision making authority is pushed down the chain of command. It enables the company to maintain short lines of communication with customers and employees, and accelerate the development of talent.
The philosophy being followed by S&M is not followed by most other companies. This tells us that the philosophy is ______.
One of the following is considered to be an extension of the marketing concept, which apart from customer satisfaction pays attention to ethical and ecological aspects of marketing. Identify the concept.
