Blog: Mgt301 Assignment No. 1 solution

"Principles of Marketing (MGT301)"

Semester "Spring 2011"

Assignment No. 1 Marks: 20

"Marketing Functions"

There are eight universal marketing functions which are performed in whole marketing process. These marketing functions comprise of Buying, Selling, Transporting, Storing, Standardizing and Grading, Financing, Collecting information and Risk taking. A scenario is presented to you in this context:

Scenario

Saleem Enterprise is dealing in manufacturing business. It manufactures motorcycles and other automobiles. Saleem Enterprise wants to expand its business by entering into a new market. For this purpose, necessary information has been collected regarding customer needs and wants of that area. It has also selected some reliable suppliers of raw material which help them to manufacture motorbikes according to customer needs. Saleem Enterprise has taken some loan from the bank for manufacturing the motorbikes. After manufacturing, it launches this bike in the market. For the time being, Saleem Enterprise kept motorbikes in its warehouses so that it can easily be delivered to the customers. Ahmad Rent-a-bike is another enterprise which is involved in renting bikes. It makes a business dealing with Saleem Enterprise and signs an agreement for purchasing 20 motorbikes as per required quality and standards. Saleem Enterprise promises them to deliver 10 bikes in one week time and remaining in next month. After a week, Saleem Enterprise sends 10 bikes to Ahmad Rent-a-bike.

Question

Below is the table in which you are required to mention the

scenario statements against their selection of marketing function. You are also required to justify your selection of marketing function in this scenario. 

Marketing Function

Scenario Statement (2 marks)*

Justification (2 marks)**

Buying?

Transporting?

Risk Taking?

Storing?

Standardizing and Grading

::::::::::::::::::::::::::::::::::::::::::::::::::::

SOLUTION:

Buying
scenario statment= it has also slected some reliable suppliers of raw material.
ustification=sleem enterprises will buy spare parts from these suppliers.

Tranporting
scenario statment=it manufactures motorcycles and other automobiles
ustification=Motorbikes and automobile i.e. cars are used for traveling or transporting

Risk taking
scenario statment=sleem enterprise has taken some loan from the bank
ustification=loan from any source is always considered as a risk for business coz more the liablity more the risk

storing
scenario statment=sleem enterprise kept motorbike in its warehouse
ustification=keeping bikes into warehouse for delivering in future deal.

standardizing and grading
scenario statment=Saleem enterprise and ahmad rent a bike signs an agreement for purchasing 20 motorbikes as per required quality and standards
ustification=ahmad is agree to buy if the bikes fulfill his required quality and standards.

Mgt301 Assignment No. 1 solution Principal of Marketing VU 

Marketing Function	Scenario Statement	Justification
Buying	It has also selected some reliable suppliers of raw material	Saleem enterprises will buy spare parts from these suppliers
Transporting	It manufactures motorcycles and other automobiles	Motorbikes and Automobiles i.e cars are used for traveling or transporting.
Risk Taking	Saleem Enterprise has taken some loan from the bank VUsolutions HelpDesk	Loan from any source is always considered as a risk for business b coz more the liability more the Risk
Storing	Saleem Enterprises Kept motorbikes in its warehouses	Keeping bikes into warehouse for delivering in future deal.
Standardizing and Grading	Saleem Enterprises and Ahmad rent a bike signs an agreement for purchasing 20 motorbikes as per required quality and standards	Ahmad is agree to buy if the bikes fulfill his required quality and standards.