Ignou.de

June, 2011

Ms- 63 : Product Management

SECTION – A

1.  (a)   Briefly explain the concept of Product. Life Cycle (PLC). Do all products go through the classical belt shaped PLC ? Discuss giving suitable examples.

(b) What, in your view, is the PLC stage in respect of the following products in Indian market ? Based on your answer, suggest appropriate promotion and distribution strategies for them:

(i)  LCD Televisions

(ii)  Broadband services of Internet service provides.

2 (a)  What is a product ? faking the example of a consumer durable- of your choice, explain the anatomy of the product i.e. the core benefits, tangible specifications and augmented features.

(b)  Explain the various interpretations of the term 'new product'. Discuss the different pricing strategies available to a product manager for a new product.

3.  (a) Taking the example of a packaged fruit juice, explain the alternative bases available to the marketers for its positioning.

(b) Briefly explain the functions performed by packaging, Taking a FMCG (like biscuits, breakfast cereals, tomato sauce) of your choice, discuss what changes would you recommend and why in the packaging and labelling of the chosen product.

4.  Write short notes on any three of the following

(a)  Sources of new product ideas

(b)  Sales forecasting methods

(c)  Organising for new product development

(d)  Concurrent engineering

(e)  BCG Matrix

SECTION – B

Read the case given below and answer the questions given at the end of the case

HEARTS ON FIRE : BRANDING OF DIAMONDS

I1ow can a gem company convince customers that its diamonds are a cut above the rest ? Increasingly the answer is branding. People are often very particular about the brands of shampoo or soap they buy but when they shop for a diamond, they probably don't have a specific brand in mind. Although an individual may have done some homework regarding the " Four Cs" of diamond value (Carat weight, colour, clarity and cut), she is unlikely to walk into a jewelry store and ask for a diamond by name - unless she wants a Hearts on Fire. Surat - based diamonds wholesaler Hearts on Fire, has put major marketing power behind its Hearts on Fire brand name diamond. Complete with a logo and marketing plan, The Hearts on Fire diamond is cut and designed to give the extra sparkle that inspired the brand's slogan : "The difference is perfection. It's a difference you can see." The owner of Hearts on Fire, went into the diamond wholesaling business in 1980 but it wasn't until 20 years later that he decided to boost his profit margin by creating a branded diamond backed by a full - fledged marketing campaign.

Questions :

(a)  Why would a customer have an interest in a branded diamond ?

(b)  Evaluate the phrase " Hearts on Fire " as a brand name.

(c)  Suggest a marketing programme to build brand equity for Hearts on Fire diamonds.