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Marketing
Question
Wired Faculty App

Explain the following sales promotion activities:

(i) Discount

(ii) Product Combination

(iii) Financing

(iv) Lucky Draw.

Answer

(i) Discount: Under this method, the customers are offered products on less than the listed price. For example, giving a discount of 30% on the sale of Liberty Shoes. Similarly, givinga discount of 50% + 40% by the KOUTONS.
(ii) Product Combination: Under this method, alongwith the main product some other product is offered to the customer as a gift. The following are some of the examples:

Main Product

Gift

TV

Shakti Bhog Atta

A kilo of washing powder

Natkhat Nimbu Bhujia

Maggi Noodles

Vacuum cleaner

A packet of rice

A 100 gm bottle of sauce

A glass bowl

A toy car

(iii) Financing: Under this method, the product is sold and money is received in instalments at 0% rate of interest. The seller determines the number of instalments in which the price of the product will be recovered from the customer. No interest is received on these instalments.
(iv) Lucky Draw: Under this method, the customers of a particular product are offered gifts on a fixed date and the winners are decided by the draw of lots. While purchasing the product, the customers are given a coupon with a specific number printed on it. On the basis of this number alone the buyer claims to have won the gift. For example, ‘Buy a bathing soap and get a gold coin’ offer can be used under this method.

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Some More Questions From Marketing Chapter

‘Bending the customer according to the Product’ and ‘Developing the product according to customer-needs’ are the two important concepts of marketing management. Identify the concepts and differentiate between the two.

Explain ‘Market Planning’ and ‘Product Designing and Development’ as functions of marketing.

What is meant by the 'Product Concept’of marketing?

What is meant by the ‘Societal Concept’ of marketing?

What is meant by ‘Production Concept’ of marketing?

What is meant by ‘Selling Concept’ of marketing?

Distinguish between the product concept and production concept of marketing.

Or

Distinguish between the concepts ‘product’ and ‘production’ in Marketing keeping following as the base: (i) Focus (ii) Means (iii) Ends.

Mansi, a shoe manufacturer for school students, decided to maximise her profit by producing and distributing at large scale and thereby reducing the average cost of production.

(i) Identify the Marketing Management philosophy adopted by Mansi.

(ii) Explain this philosophy on the basis of

(a) Main Focus

(b) Means and Ends

Nisha a school bag manufacturer decided to improve the product for profit maximisation and thus added a water bottle holder to the existing design.

(i) Identify the Marketing Management philosophy adopted by Nisha and

(ii) Explain this philosophy on the basis of

(a) Main Focus

(b) Means and Ends

Jasdeep, a dealer in school uniforms, decided to maximise his profit by using different aggressive promotional efforts.

(i) Identify the Marketing Management philosophy adopted by Jasdeep.

(ii) Explain this philosophy on the basis of

(a) Main Focus

(b) Means and Ends