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Course:
Marketing Research
Internal
Assignment Applicable for December 2019 Examination
1.
As a researcher, you need to study how many kirana stores in Mumbai sell tomato
ketchups of the Nestle Maggi brand. Which non-probabilistic sampling method
would you use to complete your research. Also state the reasons behind choosing
that method. Alsoexplain as to how will you proceed ahead with choosing the
areas/ localities in Mumbai to conduct your research along with timelines.
Answer
1: Introduction :
Non-probability sampling
Non-probability sampling is a sampling technique in
which the researcher selects samples based on the subjective judgment of the
researcher rather than random selection.
In non-probability sampling, not all members of the
population have a chance of participating in the study unlike probability
sampling, where each member of the population has a known chance of being
selected.
Non-probability sampling is most
2.
You are the Head of a Market Research Organization. Your FMCG client has
recently introduced “Digest Healer,” a new type of biscuit that contains
ingredients that are meant to be good for Diabetic patients. The FMCG company
wants to understand how customers are reacting to their recently launched
biscuit. Draft a Questionnaire containing not more than 20 questions that would
succinctly address the query posed by the FMCG client.
Answer 2: It's clear that customers have
ever-changing needs. What once was a need for customer service reps to solve
current customer problems has evolved into a need for reps to solve problems
before they even exist.
How can a customer service team recognize these
customer needs and effectively solve them on a day-to-day basis? Well, with the
help of a customer questionnaire, of course.
By obtaining feedback from your customers,
you can ensure you are on the right path. First, we will be explaining what a
questionnaire is, followed by some tips on how to ace yours.
The questions should always remain as unbiased as
possible. For instance, mentioning a specific product and service that is in
the ideation phase and asking for feedback on it is unwise. Rather, ask broad
questions about the kinds of
3.
You have been recently appointed as a “New Product Development” Head for a
South Indian fast food retail chain conglomerate named as “Gujarat is Great”
which operates in Western & Southern India regions only. You have been
asked to develop 2 new innovative products as part of their Menu.
a. Explain the process in detail to arrive at the
creation of your 2 new products
b.
Is there a need to conduct Test Marketing? If Yes or No, please state your
reasons to support your answer.
Answer 3a: Step 1: Generating
Utilizing basic internal and external SWOT analyses,
as well as current marketing trends, one can distance themselves from the
competition by generating ideologies which take affordability, ROI, and
widespread distribution costs into account.
Lean, mean and scalable are
the key points to keep in mind. During the NPD process, keep the system nimble
and use flexible discretion over which activities are executed. You may want to
develop multiple versions of your road map scaled to suit different types and
risk levels of projects.
Step 2: Screening The Idea
Wichita, possessing more aviation industry than most
other states, is seeing many new innovations stop with Step 2 –
screening. Do you go/no go? Set specific
criteria for ideas that should be
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Course:
Retail Banking
Internal
Assignment Applicable for December 2019 Examination
1.
The
banking sector has reached out to global customers crossing boundaries in the
recent times. With reference to retail banking briefly discuss the following
aspects of globalization in retail banking. Discuss any five marketing
strategies adopted by banks to attract customers?
Answer
1: The banking industry was in the eye of
the recent global financial crisis (henceforth GFC) where several nations
witnessed unprecedented declines in banks’ earnings. Such deteriorating bank
performance is often a harbinger of bank failures and banking crises, along
with their subsequent adverse consequences on the overall economy. Therefore,
the determinants of bank performance have attracted the interest of academic
research as well as of bank management, financial markets and bank supervisors,
as a soundly performing banking industry is better able to withstand negative
shocks and contribute to the stability of the financial system.
In the backdrop of this financial landscape, the
present study examines the impact of the banking sector globalization on two
key
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2.
Lending
is the prime business of any banks and thus forms an integral part in the
business growth. As a bank describe which all factors or principles should be
considered while lending to the borrowers.
Answer 2: First, give the bank a business plan. Show
them that your business is solid and you have a strong track record of
performance. Convince the bank that you don't really need their money, but if
you had it, here's what you could do with it. Banks get queasy about lending to
desperate borrowers. Be specific about how much money you need, what you will
do with it and how you will pay it back.
The business plan should include:
3.
The Retail Banking environment has witnessed a sea change in the past few
years. With the entry of private and foreign sector banks, the Retail banking
has taken a new customer centric shape wherein the customers are given lot of
privileges, options in term of products and service. Keeping these changing
dynamics in the financial world discuss the following assuming that a leading
Global MNC Bank is planning to open the branches in the metro cities of India.
Based on the above case, discuss the following:
a.
The various Retail Banking products that the bank can offer to its target
customers?
b.
Apart from branch operations briefly discuss the various channel partners that
the bank has as an option to reach out to these customers
Answer 3a: The retail banking sector has changed
dramatically in recent years. This is thanks to an ever-evolving digital world,
and an increasing number of new financial services players entering the market.
It’s no longer enough to be the biggest, or to offer
the best. Today’s consumers know what they want and how they want to get it.
Their path to conversion isn’t linear or logical, but based on changing
attitudes and perceptions.
They need to go to the source to
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Course:
Services Marketing
Internal
Assignment Applicable for December 2019 Examination
1.
You
have decided to open a 3-star hotel property in Surat by the name “Comfort
Inn”? You wish to pursue a very unique strategy when it comes to Customer
Satisfaction by introducing a “Service Guarantee” policy. Design an effective
Service Guarantee policy & set the criteria for it too along with enlisting
of benefits of incorporating such a policy.
Answer 1: Service
offerings are largely intangible in nature. Customers are thus unable to assess
the purchase outcome prior to experience, rendering the risk of possible
customer dissatisfaction very high. It is argued that the concept of service
guarantees proposed by services management theory can be effectively utilised
to reduce the perceived risk of dissatisfaction for the customer in service
organisations.
Additionally, it is suggested that service
guarantees force management to undertake activities which elevate the
superiority of the organisation in the eyes of the customer and, thus, the
opportunity to transform one-time customers into loyal ones. The purpose of
this text is twofold – first, to illustrate how customers’ behavioural
intentions can be influenced by the use of a service guarantee; and second, to
outline a
2.
You
have been appointed as an external consultant to help a local municipal
hospital in Mumbai by the name of “King Edward Memorial Hospital”. This
hospital faces a lot of administrative issues. Undertake a Service process
redesign exercise. What innovative mechanisms would you bring to the fore to
ensure that the municipal hospital undergoes a radical transformation &
that patients get prompt service.
Answer
2:
Lots of metaphors are used to define Service Design. Service design is a
roadmap comprising the steps and processes a customer of a service will
undertake when using it. The Spider EU project defines it as a ‘journey’ that a
user or customer will embark upon to go through a service. DIY Service Design,
the toolkit, defines service design as “finding the most elegant way to help
someone to do something.”
NI Business Info defines that the ultimate benefit
of Service Design is not to improve upon aesthetical outlook of a product or
service but to improve its operability and efficiency. Service design is a
brainstorming procedure that brings together the design, web design, product design,
graphic design, and
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3.
You are an Indian Ayurveda products brand by the name of “Ayur” & wish to
enter the US market.
a. Which market entry strategy will you choose
& explain the reasons behind your choice. Also briefly explain as to how
will you expand & in which regions.
b.
Suppose the above stated brand Ayur decides to diversify & expand into the
education sector by introducing courses & degrees in Ayurveda in the US.
Which market entry strategy should it pursue in order to enter the US market?
Explain the reasons behind your choice. In which region do you suggest to set
up the AyurUniversity.
Answer:
3.a
Direct strategies
When you sell directly to end-users, you eliminate the middlemen
making it easier to customise your market entry strategy to reflect the market
conditions you may face.
Sales can be made directly between you and end-users, or they can
be made through local sales representatives who promote your product and/or
service without taking ownership. You can use a distributor to sell your
products directly to buyers.
When you sell directly to end-users,
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Course
World Class Operations
1.
1.
You have been asked to identify the existence of world class standards in
operations in a firm. Describe in brief the traits for world class operations.
Ans:
INTRODUCTION:
Under the increased competition on the global
market, companies should deliverworld-class performance exceeding the
capabilities of their strongest competitors.Company is not only concentrating
the efficiency and effectiveness, but also needs tochange the culture. Hence,
nowadays, World Class Operational Management (WCOM)is a significant concept for
the company to maximize the operational performance,continuous improvement, and
efficient and effective operations. In terms of that, thismaster thesis intends
to explore how to implement WCOM in the initial stage in aneffective and
efficient way.
World-class operations is more than simply
understanding the six building blocks ofoperations. And it is
2. You have been appointed as an auditor for
the manufacturing process of a firm. The firm has already implemented the
Shingo Model for operational excellence. Given this context, critically examine
the Shingo Model for Operational Excellence.
Ans:
INTRODUCTION:
The Shingo model for operational excellence
is based on a systematic study of each of these improvement initiatives. Our
approach bypasses the tools that each programme has engendered and focuses
rather on the underlying/guiding principles and supporting key concepts behind
them. We recognise the necessity of good improvement tools but focus on them
only within the context of enabling a system to better drive ideal, principle
based behaviors.
When taken in their totality,
3.
a. Mr. Abraham has been working with French automobile
giant for the last 27 years. He started working in the company as a Production
Executive and rose through the organizational hierarchy and is presently the
Global Head of Quality Standards. Suggest how he has executed quality standards
in manufacturing of automobiles in the parent company.
b. The company is presently setting up a
manufacturing unit in the automobile hub of Pune, India. Mr. Abraham has been
assigned to create a plan for the implementation of TPM tools in the Pune unit
of the company. Create a plan for TPM implementation on behalf of Mr. Abraham.
Ans:
INTRODUCTION:
Quality standards are defined as documents
that provide requirements, specifications, guidelines, or characteristics that
can be used consistently to ensure that materials, products, processes, and
services are fit for their purpose.Standards provide organizations with the
shared vision, understanding, procedures, and vocabulary needed to meet the
expectations of their stakeholders. Because standards present precise descriptions
and terminology, they offer an objective and authoritative basis for
organizations and consumers around the world to communicate and conduct
business.
CONCEPT:
Automotive quality control is all about
having the right tools for the job. These tools will vary a little bit
depending on the exact product that's being produced, but there are several
core tools that any automotive
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