MCS-015 Communication Skills 2018-19
Course Code : MCS-015
Course Title : Communication Skills
Assignment Number : MCA(1)/015/Assignment/2018-19
Maximum Marks : 100
Weightage : 25%
Last Date of Submission : 15th October, 2018 (for July, 2018 batch)
15th April, 2019(for January, 2019 batch)
Every market activity is an investment in time, energy and money. Few companies would spend a large sum of money on, say, a purchase of capital equipment without a full investigation into why it is needed, the choices available, and the expected return on what has been spent. Yet every year the vast majority of companies invest a large amount of money in marketing actions without knowing what their financial worth to the company or likely return will be. By introducing the disciplines arising from market planning, a company should be able to ensure that the costs of marketing planning show a reasonable return and are calculated in the same way as all other business investments.
Many managers believe that the costs of marketing form an additional expense that has to be accepted in order to sell their goods. Whilst it is true that many companies use certain tools of marketing for this purpose, it is also true that the most successful companies accept marketing as an essential part of the company’s total commercial operation, for it is an essential cost in the same way as production or finance.
Companies often avoid planning marketing procedures in detail because of the effort needed to express their forward policy in a written form. Managers commonly consider that their time is too valuable to spend on anything other than urgent operational problems. In fact, the manager who spends his time on dealing with current administrative detail is almost certain to have ignored proper planning in the past. For, if properly prepared, the marketing plan will contain sufficient details of the company’s policy and operational strategy for the work to be done by an assistant. As the many alternative courses of action are programmed, the assistant takes any actions or decisions which are appropriate. Only unusual situations need be dealt with by the manager.
The first step in preparing a marketing plan is that of producing the information necessary for decision-making. Usually, a company will have within its own administration and control system the raw material necessary for the plan’s foundations. In addition, there is plenty of published information which is made available by government departments, institutions and the press.
Marketing research is yet to be fully exploited by the majority of companies. It has so far only been used by companies which have recognised that their existing information sources are inadequate. Because of the scale of operations which now confronts t he typical businessman, it is essential that investment decisions are based upon relevant information, so reducing the business risk.
For a marketing-oriented activity to produce lasting results, the entire operation has to be systematically planned. By producing basic information in written form and establishing aims for the future, the company is creating standards against which actu al performance can be measured. Documentation of detailed policy actions then provides the basis for controlling the company’s operation. Future trends may be predicted through the investigation of all factors likely to influence company results.
A good marketing plan is therefore essential to a company’s successful development, but so is an effective marketing manager. He must be capable of identifying the parameters for market research and interpreting the data produced so that he can quantify the existing and potential needs of customers. Someone with an eye for style in packaging and product promotion is also a valuable asset. In an ideal world, the manager would possess all these abilities; however, they may be useless if not combined with that real love of and natural flair for the job which allow him sometimes to ignore the rational evidence and act instinctively.
Why do you think market planning is not calculated in the same way asother business investments. Discuss.
Marketing planning process is a logical sequence and series of activities leading to the setting of strategic planning objectives for an enterprise, and the formulation of strategic plans for achieving them. Invest usually done for productive process and profit but market planning is done to make chain of clints.
Question 1(b). Marketing research is still to be fully exploited by companies. Why? Discuss.
Answer: Marketing search is yet to be fully exploited by the majority of companies. It has so for only been used by companies that have recognized that their existing information sources are inadequate.
Question 1(c). Who, according to the passage, is an effective marketing manager?
Answer: An effective manager must be capable of identifying the parameter for market research and interpreting the data produced so that he can quantify the existing and potential needs of customers. Someone with an eye for style in packaging and product promotion is also a valuable asset.
Question 1(d). Give a title to the passage. Say why you chose it.
Answer: “Secret of Marketing”I chose this title because this passage tells about several secretes of marketing.
Question 1(e). Find words from the passage which mean the same as the following:
i The amount of money spent on marketing by most companies each year
a) Equals the amount spent on capital equipment.
b) Does not give a good return on the investment.
c) Is not based on an assessment of its potential value.
d) Is viewed by these companies as an important business investment.
Answer: a)Equal the amount spent on capital equipment.
ii Why are marketing plans not written down by many managers?
a) They don’t have time to do it.
b) They know it would be difficult to do.
c) They spend their time on more important things.
d) They don’t think it is really necessary.
Answer: c)They spend their time on more important things.
iii Good marketing procedures would allow a manager
a) To take different courses of action.
b) To do less work than others.
c) To avoid unforeseen problems.
d) To give more responsibility to others.
Answer: a) To take different course of action.
iv How should a manager begin writing a marketing plan?
a) By doing market research outside the company.
b) By looking at information produced by other companies.
c) By analyzing procedures already used by the company.
d) By finding information from many different sources.
Answer: c) By analyzing procedures already used by the company.