NMIMS BBA – B.Com Principles of Management Solved Answer Assignment

Principles of Management

NMIMS BBA – B.Com Principles of Management Solved Answer Assignment

1. You are the owner of a single screen movie theater in your city. The footfalls in the theatre are negligible ever since a new multiplex theater has opened in your area. What steps can you take to compete? Create a plan to communicate with your consumers to increase footfalls. (10 Marks)

Ans:

Introduction

As the proprietor of a movie theater with a single screen, I am confronted with a significant obstacle in the form of a brand-new multiplex cinema recently opened in the vicinity. My theater’s foot traffic has dropped to the point that it is practically nonexistent, and I need to take fast action to remain competitive in the rapidly shifting environment of the motion picture industry.

Concept & Application

1. Emphasize the Intimate Movie Experience: Going to the movies in a location with only one screen offers one of the most significant benefits: a warm and intimate setting. My local cinema provides a more personal and all-encompassing way to take in a film, in contrast to the sprawling theaters available elsewhere. To spread awareness of this idea, I plan to design marketing efforts focusing on my theater’s singular allure.
2. Cultivate a Sense of Community: In a theater, customers frequently enter and exit without engaging one another in conversation. My theater has the potential to be a community builder by hosting special events and screenings that are tailored to the interests of the local audience.

Conclusion

In conclusion, even though opening a new multiplex theater has been a substantial obstacle for my single-screen movie theater, I can take various steps to effectively compete with the new theater and increase the number of customers visiting my establishment.

NMIMS BBA – B.Com Principles of Management Solved Answer Assignment

2. You are the marketing director of the pro badminton league. How would you generate consumer interest for your league? Create a marketing using the 4 P model.

Ans:

Introduction:

As the marketing director of the Pro Badminton League, it is my responsibility to pique the interest of consumers in our league and to get them excited about it. For to accomplish my goal, I will use a marketing technique called the “4 Ps,” which stands for “Product,” “Price,” “Place,” and “Promotion.”

Concept & Application:

1. Product:

In this instance, the product is the Pro Badminton League itself. It is essential to emphasize the vital qualities and advantages that distinguish our league different from others. These may include the following:

1. a) High-quality competition: Highlight the high caliber of players in the league by highlighting their accomplishments, skills, and the exciting matches they are a part of.
2. b) Entertainment value: Illustrate badminton’s enthusiasm, energy, and athleticism through appealing visuals and movies.
3. c) Engaging format: An engaging framework in which any distinctive features of our league, such as team-based competition, novel rule variants, or chances for fan participation, should be highlighted.

Conclusion:

We can effectively develop customer interest in and excitement about the Pro Badminton League by adopting a marketing approach known as the “4 Ps.”

NMIMS BBA – B.Com Principles of Management Solved Answer Assignment

3. You are the marketing director for Super automobiles, Your Company wants to launch new EV car. Before embarking on this journey, you want to have consumer preference understanding.

4. Create a target consumer for your product. What type of research will you undertake? (5 Marks)

Ans:

Introduction:

As the marketing director for Super Automobiles, I am overjoyed to be allowed to spearhead the debut of our brand-new electric vehicle (EV) car. To properly position and promote our product in the market and meet the growing global demand for environmentally responsible modes of transportation, we need to have a solid understanding of customer preferences.

Concept & Application:

We will conduct various research studies to collect helpful information and get valuable insights to understand our target market for the new electric vehicle. Listed below are some research methodologies that will help in the process of creating our ideal profile of a consumer:

Conclusion:

In conclusion, gaining a grasp of potential customers’ preferences is essential for successfully introducing a product, particularly in the quickly developing market for electric vehicles. We will establish a target consumer profile for the new electric vehicle (EV) offering from Super Automobiles by carrying out a variety of research approaches. This will allow us to direct our marketing efforts more effectively.

NMIMS BBA – B.Com Principles of Management Solved Answer Assignment

1. Create 5 questions which will help you understand consumer preference. (5 Marks)

Ans:

Introduction:

My responsibility as the Marketing Director of Super Automobiles includes the introduction of a brand-new Electric Vehicle (EV) automobile. Before commencing this exciting trip, it is necessary to get a profound awareness of the target market’s preferences.

Concept & Application:

It is vital to go deeper into the insights gained from the five main questions to understand consumers’ preferences and ensure the success of our launch of an electric vehicle (EV). When we analyze the responses, we can collect significant information informing numerous elements of our marketing strategy and product development.

Conclusion:

When introducing a brand-new electric vehicle model, it is necessary to have an in-depth knowledge of the preferences of potential buyers. By asking ourselves these five essential questions, we can get helpful information that can help shape our marketing tactics and product development.