Assignment – Answers

Marketing Management

(1)

A company provides pricing details to all clients. M/s Herbal Life features a series of Herbal products
in the urban market. We sell toothpaste, Ayurveda supplement tablet computers, chaises, Tulsa tea,
natural soaps, shampoos, and other wellness and beauty products. Instead, try to connect with them
in something substantive fashion by publishing about topics that are important to them or
participating in discussions. Many products seem to be part of an extra comprehensive product mix.
They serve a details function in a product mix that might consist of various products focused on
various circumstances. Because of this, we need to position our prices suitably. A combined product
pricing approach addresses this. Basic pricing methods for products in a product mix are defined for
systems generated and the products taken all at once

Various types of Product Mix pricing strategies are –

Product Line Pricing - Companies usually develop product lines rather than single products. In
product line pricing, management must determine the price steps to set between the various
products in a line. The price steps should take into account cost differences between products in the
line. More important, they should account for differences in customer perceptions of the value of
different features

Optional-Product Pricing - Many companies use optional-product pricing—pricing optional or

accessory products along with the main product. For example, a car buyer may choose to order a
navigation system and premium entertainment system. Refrigerators come with optional ice makers.

Captive-Product Pricing- Companies that make products that must be used along with a main
product are using captive-product pricing. Captive products can account for a substantial portion of a
brand’s sales and profits.

By-Product Pricing - Producing products and services often generates by-products. If the by-
products have no value and if getting rid of them is costly, this will affect the pricing of the main
product. Using by-product pricing, the company seeks a market for these by-products to help offset
the costs of disposing of them and help make the price of the main product more competitive

Product Bundle Pricing - Using product bundle pricing, sellers often combine several products and
offer the bundle at a reduced price. Price bundling can promote the sales of products consumers
might not otherwise buy, but the combined price must be low enough to get them to buy the
bundle.

Various types of price adjustment strategies are –

Discount and Allowance Pricing - Most companies adjust their basic price to reward customers for
certain responses, such as paying bills early, volume purchases, and off-season buying. These price
adjustments—called discounts and allowances—can take many forms. One form of discount is a
cash discount, a price reduction to buyers who pay their bills promptly.
Segmented Pricing - Companies will often adjust their basic prices to allow for differences in
customers, products, and locations. In segmented pricing, the company sells a product or service at
two or more prices, even though the difference in prices is not based on differences in costs.

Psychological Pricing - Price says something about the product. For example, many consumers use
price to judge quality. A $100 bottle of perfume may contain only $3 worth of scent, but some
people are willing to pay the $100 because this price indicates something special. In using
psychological pricing, sellers consider the psychology of prices, not simply the economics.

Promotional Pricing - With promotional pricing, companies will temporarily price their products
below list price—and sometimes even below cost—to create buying excitement and urgency.
Promotional pricing takes several forms. A seller may simply offer discounts from normal prices to
increase sales and reduce inventories. Sellers also use special-event pricing in certain seasons to
draw more customers. Thus, TVs and other consumer electronics are promotionally priced in
November and December to attract holiday shoppers into the stores. Limited-time offers, such as
online flash sales, can create buying urgency and make buyers feel lucky to have gotten in on the
deal.

(2)

Introduction -

In the last decade, the Ayurvedic market has grown dramatically, and sales of all-natural
supplements have steadily increased. With the significant increase in overall sales of natural
medicine products, the variety of typical suppliers of herbal medicine products has also expanded. If
you plan to have your Ayurvedic products stand out online, you need to use a consistent natural
advertising method. The method means incorporating a variety of digital distribution channels.
Internet marketing can be used to successfully market Ayurvedic products, as several standard
organic drug companies reach potential customers through online sales. Internet has become an
essential technique for advertising and marketing Ayurvedic and natural services and products.
According to international analysts, Western markets are also the best methods for natural
products. Ayurveda originated in India. However, it is a way of life rather than a treatment. In the
Western market, Ayurveda began to establish techniques that are an excellent means to influence
mental, emotional, physical and spiritual well-being

Discussion-

Make a website

You should have a website to achieve the best Ayurvedic web presence. A website is also the "face"
of what you use to generate income online. You can use a website to promote your products and
services on social networks.

Designed with mobile in mind

Companies and online platforms that are not optimised for mobile devices are losing business as
handhelds are the leading system for internet users. When creating your website, think about
mobile devices and determine what will influence your SEO method.

Business listing
Make sure your employee, workplace or centre is listed in an enterprise directory like Bing Venture,
Google Entrepreneurialism or an additional Thing creation that is constantly free on the search
results page and Bing Enterprise. If a person's financial plan is tight, you can undoubtedly think
about a paid listing to increase awareness. Do not be afraid to call us if you are unfamiliar with
organizational checklists. Start of the corresponding newsletter

Beginning of the appropriate newsletter

Some information is always useful when promoting items and building an online reputation You can
always share the latest updates and news with your loyal customers through a well-known email
newsletter. You can let them know about the latest offers that are relevant to their course. Sending
daily emails makes it even more convenient once you've built a relationship with your customers.

Network advertisement

Internet marketing is probably the best advertising preparation for Ayurvedic companies thinking
about associated items. We strive to create a beneficial brand name for one of our buyers
recognized as "Bested" via content advertising and marketing procedures and online advertising
platforms like Google Ads, which has significantly influenced sales of Ayurveda services and
products. This has been a win-win for me.

Search engine optimisation examination

Search engine optimization

examination
If it does not have vital Search
engine optimization
components, a good website
will likewise not
rank in Google search
results. Constantly opt for
a seasoned SEO company
that supports
technological search engine
optimization. We serve
purchasers in the Ayurveda
business as a
digital advertising and
marketing business in Mumbai
based on the prominent
ranking in results
on search engines via organic
search engine optimization.
Carrying out an insufficient
search
engine optimization method
might result in Google
penalizing your website. This
can seriously
damage your online visibility
and company profile
Search engine optimization
examination
If it does not have vital Search
engine optimization
components, a good website
will likewise not
rank in Google search
results. Constantly opt for
a seasoned SEO company
that supports
technological search engine
optimization. We serve
purchasers in the Ayurveda
business as a
digital advertising and
marketing business in Mumbai
based on the prominent
ranking in results
on search engines via organic
search engine optimization.
Carrying out an insufficient
search
engine optimization method
might result in Google
penalizing your website. This
can seriously
damage your online visibility
and company profile
If it does not have vital Search
engine optimization
components, a good website
will likewise not
rank in Google search
results. Constantly opt for
a seasoned SEO company
that supports
technological search engine
optimization. We serve
purchasers in the Ayurveda
business as a
digital advertising and
marketing business in Mumbai
based on the prominent
ranking in results
on search engines via organic
search engine optimization.
Carrying out an insufficient
search
engine optimization method
might result in Google
penalizing your website. This
can seriously
damage your online visibility
and company profile
A good website will also not show up in Google search results if it does not have key search engine
optimization components. Always choose an experienced SEO company that supports technological
search engine optimization. We serve clients in the Ayurveda industry as a digital advertising and
marketing company in Mumbai on the basis of prominent placement in search engine results
through organic search engine optimization. Performing inadequate search engine optimization can
result in Google penalizing your website. This can seriously damage your online visibility and
business profile

Participant in social media

Regardless of the favourable ROI, social media is less costly than traditional advertising and
marketing. Ayurvedic companies usually market organic products through the internet. Engage your
satisfied customers by sharing an insightful and fantastic storyline, special sale, or other material
that can pique their interest.
The main idea of advertising is that it should be a household item like Patanjali or Dabur. The role of
marketing in this advertising mix is to focus on the right customers to increase the brand name and
business ability of our products.

Conclusion
In conclusion, advertising and marketing are critical to running and expanding a business
successfully. By doing this, the firm adds to market demand and boosts our sales. Somebody's
advertising mix should have been designed to show your target market the benefits, functions, and
value of your offering of services or items. This requires you to stick out from the competitors and
increase your revenues. Choose the best mix of paid and unsettled ads. It may not represent the
advertising campaigns of different firms, yet the efficient technique for Ayurvedic empires is to be
organic, particularly concerning paid projects. Advertising is one of the essential components of the
advertising and marketing mix. It includes attempting to reach big audiences through numerous
media, enhancing brand understanding, assisting in promoting special offers, and growing
commitment amongst consumers.

(3)a

Mr. Raj intends to purchase a new phone with one of the latest features. There are numerous
phones of different brands at different prices, each targeting different segments of the population.
The researcher goes over all the important features Raj needs to know and takes him through a
detailed treatment that reduces his options to a few, making his purchase decision far easier to
make.

Various steps involved for Raj in the decision process are –

Need Recognition
The buying process starts with need recognition—the buyer recognizes a problem or need. If Mr. Raj
want to purchase a new phone, he needs to identify the goal, like he knows here why he wants to
purchase a new phone, because he wants latest features in his phone.

Information Search
An interested consumer may or may not search for more information. If the consumer ’s drive is
strong and a satisfying product is near at hand, he or she is likely to buy it then. If not, the consumer
may store the need in memory or undertake an information search related to the need. To buy a
phone with latest technologies, new and updated system whether android or iOS, meet his
expectations of latest updates and researching before the purchase is needed.

Evaluation of Alternatives
We have seen how consumers use information to arrive at a set of final brand choices. Next,
marketers need to know about alternative evaluation, that is, how consumers process information
to choose among alternative brands. With relevant information for different brands, now Mr. Raj can
easily identify what exact features he wants in his new phone. Usually, more than 1 option is
available in this step to decide. Here is part of decision-making process, where one has to decide and
go ahead with that decision. Mr. Raj up till now must have identified and clarified what decision's
need to be made. Final call to decide.

Purchase Decision
In the evaluation stage, the consumer ranks brands and forms purchase intentions. Generally, the
consumer ’s purchase decision will be to buy the most preferred brand, but two factors can come
between the purchase intention and the purchase decision. Here Mr. Raj will, take the action, that is,
he will go ahead and purchase the phone he has selected or decided to buy and will purchase it.
Meaningful, tangible and achievable decision can be easy.
Post purchase Behaviour
The marketer ’s job does not end when the product is bought. After purchasing the product, the
consumer will either be satisfied or dissatisfied and will engage in post purchase behaviour of
interest to the marketer. Last step here is, after the purchase is done. Mr. Raj will review the product
he had purchased. Whether the phone he bought is up to date, new features as he wanted are there
or not. Looking back at the decision taken, is satisfactory or not.

(3)b

Global Stock is an application system that enables you to acquire portfolio securities from worldwide
markets. There are numerous methods to promote your app online. There are currently more than
35 million apps in the App Store and more than 2.9 million apps in the Google Play Store. These are
incredible numbers, and they are growing by the day. If you think that app customers will
immediately pack up and move to our app, you are going too far, because the competition is fierce.

Apps are typically standalone programmes that allow users to access the internet without the use of
a web browser (although many also offer offline functionality). The majority of users download apps
from specially selected marketplaces or directly from business websites.

Few ways through which I will promote the app online are –

Website

The program requires online participation. People should understand that our program is real and
that we are committed to it as an organization. The app needs to be displayed throughout the
corporate brand website, not as an afterthought or a small logo, usually in the footer. Instead, make
your existence clear wherever it makes sense.

Social Network

App promotion requires the use of social media. You can increase customer engagement in two
ways: paid organic and social. Organic social media advertising is a simple way of mere existence. For
example, a Facebook page, Twitter account, or Instagram account. Set up an account and start
connecting with people in your market and target audience. Avoid excessive advertising or
spamming. Instead, try to build key partnerships while posting about topics that are very important
to them and participating in the discussion. Social media platforms frequently contain a wealth of
data about their users, such as their whereabouts, demographics, and interests. Because of this,
some marketers believe social media marketing to be more accurate than paid search ads.

Public Relations

It is said that there is no unfavourable press if we are not covered. Referrals from the media or high-
profile individuals are critical to building awareness and credibility. Consider press releases, host a
promotional event, host national newspapers and tech influencers, interview newspaper editors and
developer blog writers, write visitor blogs, and so on.

ASO

App Store Optimization (ASO) is search engine optimization for the mobile internet browser world.
This is crucial to be discovered when acquiring goods and solutions. If you want to perform excellent
ASO, you should give great importance to your program name, keywords and summary. Implement a
strategy for app store optimization. Reach app consumers where they are already downloading new
apps by utilising online searches in addition to investing in app store optimization (ASO).

Search ads

Apple has introduced search ads and ads in the App Store. However, you can provide appropriate
key phrases for your app to show up first when users search for it using certain terms