FREE IGNOU MMPM 003 Solved Assignment 2023-24 | Product & Brand Management Solved Assignment 2023-24: MMPM 003 Solved Assignment 2023-24 , MMPM 003 Assignment 2022 , FREE MMPM 003 Assignment , IGNOU Assignment 2023-24- Gandhi National Open University had recently uploaded the assignments of this session for Management for the year 2023-24. Students are recommended to download their Assignments from this web page itself. MMPM 003 Solved Assignment 2023-24 They don’t need to go anywhere else when everything regarding the Assignments are available during this text only.
FREE IGNOU MMPM 003 Solved Assignment 2023-24 | Product & Brand Management
| University | IGNOU (Indira Gandhi National Open University) |
| Code | MMPM 003 |
| Title | Product & Brand Management |
| Language | English |
| Session | July 2023-January 2024 |
MMPM 003 Solved Assignment 2023-24 : for college kids – MMPM 003 Product & Brand Management Solved Assignment 2023-24, Students are advised that after successfully downloading their Assignments, you’ll find each and every course assignments of your downloaded. Candidates got to create separate assignment for the IGNOU Master Course, so as that it’s easy for Evaluators to ascertain your assignments.
Answer all questions in this assignment.
Q1. a) What is a Product? Discuss the Product Characteristics and its classification with suitable examples.
A product is a tangible or intangible item that is offered to a market to satisfy a need or want. It can be physical goods, services, or a combination of both. Products play a crucial role in the exchange process between buyers and sellers in the marketplace.
Product Characteristics:
- Tangibility:
- Physical Goods: Tangible products are physical items that can be touched, seen, and measured. Examples include smartphones, cars, and clothing.
- Intangible Services: Intangible products are non-physical and include services like education, healthcare, and consulting.
- Durability and Tangibility:
- Durable Goods: These are products that have a long lifespan and are not consumed in a single use, such as appliances or furniture.
- Non-durable Goods: These are products that are consumed in a short period or with a single use, like food items or toiletries.
- Perishability:
- Some products, especially services, are perishable, meaning they cannot be stored for future use. Examples include a concert or a flight.
- Inseparability:
- In the case of services, the production and consumption often happen simultaneously. For example, in a hair salon, the service is created and consumed at the same time.
- Variability:
- Services can vary from one provider to another or even from one interaction to another. Manufacturing processes can also introduce variability in physical products.
- Ownership:
- Ownership of physical goods implies possession and control. In contrast, services may involve access or usage rights without actual ownership.
Product Classification:
- Consumer Products:
- Convenience Products: Everyday items purchased frequently with minimal effort (e.g., snacks, toothpaste).
- Shopping Products: Products consumers compare and shop for before purchasing (e.g., clothing, electronics).
- Specialty Products: Unique products with specific characteristics, often with a strong brand association (e.g., luxury watches, designer clothing).
- Unsought Products: Products that consumers may not actively seek out (e.g., life insurance, funeral services).
- Industrial Products:
- Raw Materials: Basic materials used in manufacturing (e.g., steel, wood).
- Components and Parts: Products used in the assembly of other goods (e.g., engines for automobiles).
- Capital Goods: Products used by businesses to produce other goods or services (e.g., machinery, equipment).
Understanding product characteristics and classifications is essential for marketers to tailor their strategies, including pricing, promotion, and distribution, to meet the unique challenges and opportunities associated with different types of products in the market.
b) Explain the concept of Product Portfolio. Discuss the BCG growth share matrix that you are familiar with.
Q2. a) Comment on how a firm organizes the process of new product development process. Discuss setting the responsibility for new product development in the following situations.
i) New product development at the corporate level
ii) New product development at operating level
b) What is a new product? Briefly discuss the various techniques used for generated new product ideas.
Q3. a) Explain the concept and significance of branding. Illustrate. Discuss the steps involved in the brand selection process.
b) Comment on the brand building blocks you are familiar with. Discuss the key initiatives that markets ought to consider in branding decisions.
Q4. a) What are the factors to be kept in mind in choosing brand element and how do they help in building brand equity?
b) What are the five levels which brand can use to sustain value overtime?
MMPM 003 Product & Brand Management Solved Assignment 2023-24: Those students who had successfully submitted their Assignments to their allocated study centres can now check their Assignment Status. Alongside assignment status, they will also checkout their assignment marks & result. All this is often available in a web mode. After submitting the assignment, you’ll check you IGNOU Assignment Status only after 3-4 weeks. it’d take 40 days to declare. MMPM 003 Solved Assignment 2023-24
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Those students who had successfully submitted their Assignments to their allocated study centres can now check their Assignment Status. Along with assignment status, they can also checkout their assignment marks & result. MMPM 003 Solved Assignment 2023-24 All this is available in an online mode. After submitting the assignment, you can check you IGNOU Assignment Status only after 3-4 weeks. It might take 40 days to declare.
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