Marketing Management SEM 1 Dec 2024

Description

Marketing Management

Dec 2024 Examination

 

Q1 Scenario: XYZ Corporation, a leading fashion retailer, traditionally caters to middle-aged consumers. Due to demographic shifts, there is a growing interest among younger consumers with different tastes and purchasing behaviors.

Task:
As a marketing manager, propose a revised marketing strategy for XYZ Corporation. Address the demographic shift, and justify your recommendations using relevant marketing theories and concepts.

Ans 1.

Introduction

XYZ Corporation is a prominent retailer in the fashion industry, traditionally focused on serving middle-aged consumers. However, recent shifts in demographics indicate a growing interest from younger consumers. These younger demographics, typically Gen Z and Millennials, differ significantly in their preferences, shopping habits, and values. Unlike the older generation, these consumers seek trendy, sustainable, and unique products and are highly influenced by digital trends, social media, and online influencers.

To remain competitive and increase market share,

 

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Q2(A): A consumer electronics company wants to expand into the business market by offering bulk sales to corporate clients. Explain two key differences between business markets and consumer markets, with examples.

Ans 2A.

Introduction

A consumer electronics company looking to expand into the business market must understand the fundamental differences between business markets (B2B) and consumer markets (B2C). While consumer markets focus on individual buyers, business markets target organizations, corporations, or businesses that purchase products in bulk for operational use or resale. Understanding these differences is

 

Q2(B): The same electronics company is experiencing declining sales for its flagship product and plans to initiate an internal idea generation process. Discuss the effectiveness of using internal resources for new product ideas, highlighting potential challenges and benefits.

Ans 2B.

Introduction

The consumer electronics company faces declining sales for its flagship product and aims to rejuvenate its portfolio through an internal idea generation process. Internal idea generation leverages the company’s existing talent, expertise, and industry knowledge to create innovative product solutions. By utilizing in-house teams for brainstorming and development, the company hopes to capitalize on its employees’ insights and reduce the time needed for product ideation. However, relying solely on internal resources has both advantages and potential drawbacks that must be