Blog: Mgt301 Midterm Current Papers VU Fall 2011 (www.vusolutions.com)

Mgt301 Midterm Current Papers VU Fall 2011 (www.vusolutions.com)

Time 60 mins Total Marks 40

29 MCQs from past papers

2 questions 3 number

1 question 5 number

Qno. 30 Differentiate between exploratory and descriptive research?

Answer

The basic difference between exploratory and descriptive research is the research design. Exploratory research follows a format that is less structured and more flexible than descriptive research. This approach works well when the marketer doesn’t have an understanding of the topic or the topic is new and it is hard to pinpoint the research direction. The downside, however, is that results may not be as useful in aiding a marketing decision In addition to offering the marketer basic information on a topic, exploratory research may also provide direction for a more formal research effort.

Qno.31 What are different types of the personal selling? Give some details.

There are two types of personal selling:

The customers come to the salespeople.

Mostly involves retail-store selling. Most salespeople fall into this category.

The salespeople go to the customers.

Usually represent producers or wholesaling middlemen and sell to business users. Some outside selling is relying more on telemarketing

Qno.32 What is customer value and customer satisfaction? Also write down the relationship between these two terms.

Answer:

Customer Value:- It is how a customer is valued with regards to a targeted market. The position a customer holds and in vice versa what position does the product hold in customers mind. How does he value the product or service from a particular company For e.g. the customer service offered by UFONE is quite effective and appreciated. This gives an impression of greater customer value in customer’s own mind. When UFONE recently launched discounted IR rates just prior to starting of Ramadan especially for people in KSA, it did target customer’s mind set which will be looking to get in contact with their relatives who will go to KSA to perform UMRAH.

Customer Satisfaction. It is how the customer feels about being treated and whether the product did serve its purpose as expected by the customer. If UFONE-2-UFONE calls are made during load of midnight calls due to promotions offered by UFONE to give night calls to discounted rate, did the service of calls drop down? Was the reception and transmission of voice clear? Was there any unfair billing? When such questions come across a customer’s mind and he feels that everything was on fair basis, the customer feels satisfied for spending his money on that product or service. Relationship between customer value and customer satisfaction: Customer value turns into customer satisfaction when the customer feels that the services he gained were to his position and were well paid off. It is more of a transition from being a focus point of service to being served well. A very common example can be the service offered in air flights. Stewards and air hostesses will offer service to the passengers such as if they need blanket, or a spare pillow. The customer feels valued. When these expectations are met , the customer feels satisfaction.