self assesments

# ✅ **Unit 1: Marketing – Creating Customer Value and Engagement** 1. **Kotler’s definition of marketing:**      **✔️ c) Social and managerial processes to exchange offerings of value** 2. **Positioning in customer value–driven strategy:**      **✔️ c) Creating a distinct image of the offering in customers' minds** 3. **Reason why integrated marketing plans fail:**      **✔️ a) Lack of consistent promotion across touchpoints** --- ### ✅ **Unit 2: Analysing the Marketing Environment** 4. **Macroenvironment aspect affecting pricing, availability, promotion:**      **✔️ b) Economic** 5. **Microenvironment includes:**      **✔️ b) Competitors, suppliers, and the company itself** 6. **Challenger strategy aims to:**      **✔️ c) Directly confront and displace market leaders** --- ### ✅ **Unit 3: Consumer Markets and Buyer Behaviour** 7. **‘Complex buying behaviour’ model:**...

✅ Unit 1: Creating Customer Value and Engagement According to Philip Kotler, marketing involves: → b. Social and managerial processes that others value through exchange What does the American Marketing Association's definition of marketing mean? → b. Creating, communicating, delivering, and exchanging offerings that have value What is the role of market segmentation in marketing? → b. To break down the large market into smaller, more manageable portions What does targeting imply about the marketing process? → a. Targeting involves determining the viability of the established segments Dividing a large market into small submarkets according to demographic, psychographic, and geographic reasons is: → b. Market segmentation What follows after segmentation and targeting in marketplace? → a. Positioning In marketing, which of the following best describes "wants"? → b. Desires that are shaped by culture and individual tastes The primary purpose of...

### 📊 SWOT Analysis **Strengths, Weaknesses, Opportunities, Threats**   Used to assess internal and external factors affecting an organization. - **Strengths**: Internal advantages (e.g., strong brand, loyal customers) - **Weaknesses**: Internal limitations (e.g., outdated tech, high costs) - **Opportunities**: External chances to grow (e.g., market trends, new tech) - **Threats**: External risks (e.g., new competitors, regulation changes) 🔎 _Example_: For Apple, strengths include innovation & brand loyalty; threats include fast tech imitation and rising global competition. --- ### 🌐 PESTEL Analysis Focuses only on **external macro-environmental factors** that influence strategy: - **P**olitical (e.g., trade policies, tax laws)   - **E**conomic (e.g., inflation, interest rates)   - **S**ocial (e.g., demographics, lifestyle changes)   - **T**echnological (e.g., AI, mobile tech)   - **E**nvironmental (e.g., sustainability, climate c...

🔑 Marketing Management – Key Concepts Summary Unit 1: Marketing – Creating Customer Value Definition : Marketing is a social and managerial process where individuals and groups obtain needs/wants through exchange. Core concepts : Needs, wants, demands, market offerings, customer value & satisfaction. Process : Market research → segmentation → targeting → positioning (STP) → marketing mix (4Ps). Trends : Digital marketing, global marketing, sustainable and not-for-profit marketing. Unit 2: Analyzing the Marketing Environment Microenvironment : Suppliers, customers, competitors, publics, intermediaries. Macroenvironment : Demographic, economic, technological, natural, political, cultural. Strategic roles : Leaders, challengers, followers. Tools : Marketing Information Systems (MIS), SWOT, PESTEL, marketing research. Unit 3: Consumer Markets & Buyer Behavior Consumer behavior model : Psychological, personal, social, cultural factors. Buying...

  1. Tata Steel ERP System & Financial Accounting Answer: The adoption of an ERP (Enterprise Resource Planning) system enhances financial accounting by integrating financial data across departments and geographies. For Tata Steel, this improves the accuracy, timeliness, and consistency of financial reports. Key functions improved include ledger maintenance, real-time financial consolidation, cost control, and compliance tracking. ERP aids decision-making by providing reliable data, enabling budgeting, forecasting, and variance analysis, which are critical for strategic planning. 2. Financial Accounting for Stakeholders Answer: External stakeholders (e.g., investors, creditors, regulators) benefit more directly from standardized financial statements because they rely on uniform and comparable data for evaluating financial health and compliance. Internal stakeholders also benefit, but they often need more detailed, customized, and real-time data than what fina...