Marketing Management Essay

2550 Words11 Pages
[pic][pic] SCHOOL OF BUSINESS AND MANAGEMENT BA (HONS) IN MANAGEMENT STUDIES MG 321 MARKETING MANAGEMENT (YEAR 3, SEMESTER 1 & 2) MID TERM EXAMINATION DATE: 29th October 2014 TIME: 6.30pm – 8.30pm (2.0 Hours) INSTRUCTIONS • This paper consist of four (4) questions. • All must be answered. ALL THE BEST TOTAL: 100 marks 1) ‘Demand forecasting is an essential activity in Sales and Marketing. The demand forecasting has to be done so that the company does not store huge inventories and at the same time, does not under utilize its operation setup.’ Suggest five (5) types of demand to be taken into consideration during demand forecasting and demonstrate how to tackle the challenges for marketers in this various demand. Answer: a) Negative Demand – Negative demand is a type of demand which is created if the product is disliked in general. The product might be beneficial but the customer does not want it. For example – Dental work where people don’t want problems with their teeth and use preventive measures to avoid the same. Insurance, which people should have but they delay buying an insurance policy. Similarly, people would like to avoid heart attacks and hence may pay for a full body checkup where the results might be negative, but still the customer has to pay. The marketer has to solve the issue of no demand by analyzing why the market dislikes the product and then counter acting with the right marketing tactics. b) Unwholesome demand – Unwholesome demand is the other side of Negative demand. In negative type of demands, customer does not want the product even though product might be necessary for the customer. But in unwholesome demand, the customer should not desire the product, yet the customer wants the product badly. Best

More about Marketing Management Essay

Open Document