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FREE ASSIGNMENTS ANSWERS OF MBA SEMESTER 2- MB0046- Q1. Suppose you are the marketing manager of a banking firm. Your bank has opened its first branch overseas. What factor do you think will affect the choice of marketing the most and why?

Answer: We need to do Environment scanning which refers to careful monitoring of an organisation's internal and external environments for detecting early signs of opportunities and threats that may influence its current and future plans.

Environmental Scanning
Environmental scanning refers to the careful monitoring of an organisation's internal and external environment for detecting early signs of opportunities and threats that may influence its present and future marketing plans. It helps the marketer in taking decisions regarding where to compete, how to compete, and on what to compete.

Besides other factors, it is important to consider the demographics, socio-cultural
environment, political and legal environment of the country.
Demographic environment
Demography is the study of population and its characteristics. Marketers are always interested in population related growth indices because eventual market growth rate in the long run depends largely on the growth of population.

Political and legal environment
Legal and political environment also influences marketing decisions in a significant way.
Government plays a great role in moderating the role of business in the society through legislation. There has been a growth in the number of legislations over a period of time to let the business know that before they play the game, they should learn the rules.
There are certain legislations brought at the central government level whereas some are practised differently in different states of India. This is a critical issue related to sales and different kind of taxes. Though Value Added Tax (VAT) tries to simplify them, it is not always possible to bring uniformity in legislation across the states.

Social and cultural environment
Social and cultural environment have maximum direct effect on consumers.
Social forces shape consumption habit of people. Let us look at the processed food in Indian markets. Due to the changes in lifestyle and more and more women taking up jobs, there is a rising demand for processed and packaged food. Packaged brands of chicken and other frozen foods are doing well in the Indian market. The societal environment is the marketer’s relationship with society in general. It is an explanation of readiness of the society to accept a marketing idea. For example, frozen, packed chicken is an acceptable product proposition but frozen beef may not be a good idea on the retail shelf in a large part of India.
Taste and consumer behaviour also vary from place to place. For example, in India, brands like Dettol have a higher impact on people because of its burning sensation, whereas Savlon does well in Europe due to its mild nature.
Culture influences consumer’s beliefs, values, and norms. Culture includes knowledge, belief, art, morals, laws, custom, and any other capabilities and habits acquired by a consumer as a member of the society. It is a distinct way of life of a group of people and their complete design of living. It is everything that is socially learned and shared by the members of the society.

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