National Institute of Technology 2009 M.B.A Finance KETING MANAGEMENT - Question Paper

Services can be judged on customer importance and company performance. Importance performance analysis is used to rate the different elements of the service bundle and identify what actions are needed. For example, “Job done right the 1st time” received a mean importance rating of 3.83 and a mean performance rating of 2.63, indicating that customers felt it was highly important but not performed well.
The ratings of the 14 elements are displayed and divided into 4 parts. Quadrant a indicates important service elements that are not being performed at the desired levels; they include elements 1, 2, and 9. The dealer should concentrate on improving the service departments’ performance on these elements. Quadrant B indicates important service elements that are being performed well; the company needs to maintain the high performance. Quadrant C indicates minor service elements that are being delivered in a Mediocare way but do not need any attention. Quadrant D indicates that a minor service element, “send out maintenance notices”, is being performed in an excellent manner. Perhaps the company should spend less on sending out maintenance notices and use the savings to improve performance on important elements. The analysis can be enhanced by checking on the competitors’ performance levels on every element.

Q.5: B) elaborate the components of modern marketing info system?
ANS:
The major responsibility for identifying significant market place modifications falls to the company’s marketers. More than any other group in the company, they must be the pattern trackers and opportunity seekers. Although every manager in an organization needs to observe the outside environment, marketers have 2 advantages: They have disciplined methods for collecting info and they also spend more time interacting with customers and observing competition.
a few firms have developed marketing info systems that give management with rich detail about buyer wants, preferences, and behavior.
Marketers also have extensive info about how consumption trends vary across countries. On a per capita basis within Western Europe, for example, the Swiss consume the most chocolate, the Greeks eat the most cheese, the Irish drink the most tea, and the Austrians smoke the most cigarettes.
Nevertheless, many business firms are not sophisticated about gathering info. Many do not have a marketing research department. Others have a department that limits its work to routine forecasting, sales analysis, and occasional surveys. Many managers complain bout not knowing where critical info is located in the company; getting too much info that they cannot use and too little that they really need; getting important info too late; and doubting the information’s accuracy. Companies with superior info enjoy a competitive advantage. The company can select its markets better, develop better offerings, and execute butter marketing planning.
Every firm must arrange and distribute a continuous flow of info to its marketing managers. Companies study their managers’ info need and design marketing info systems (MIS) to meet these needs. A Marketing info Systems (MIS) consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and right info to marketing decision makers. A marketing info system is developed from internal company records, marketing intelligence activities, and marketing research. The 1st 2 topics are explained here; the latter topic is reviewed in the next chapter.
The company’s marketing info system should be crosses ranging from what managers think they need, what managers really need, and what is economically feasible. An internal MIS committee can interview a cross part of marketing managers to discover their info needs.

Regards,
Ratnesh Moghe

Earning:   Approval pending.