MMPM 003 Solved Assignment 2023-24


MMPM 003 Solved Assignment 2023-24

Product & Brand Management

MMPM 003 Solved Assignment 2023-24 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.

Assignment Code: ASST/ MMPM 003/2023-24

Marks: 100

Attempt all the questions.

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 for sale or use and satisfies the needs or wants of consumers. Products can range from physical goods, such as smartphones or clothing, to services, such as education or healthcare. Understanding the characteristics and classifications of products is crucial for businesses in developing and marketing their offerings.

Product Characteristics:


Physical products are tangible and can be touched, seen, and felt. Examples include smartphones, cars, and clothing.

Intangible products are not physical and include services like consulting, education, or healthcare.

Durability and Tangibility:

Durable goods have a longer lifespan and are not consumed quickly, such as appliances or furniture.

Non-durable goods are consumed relatively quickly and have a shorter lifespan, like food or toiletries.


Consumer goods are products purchased by individuals for personal use, such as electronics or clothing.

Industrial goods are products used in the production of other goods and services, like machinery or raw materials.

Consumer or Industrial:

Consumer products are meant for direct consumption by the end user.

Industrial products are used as inputs in the production of other goods or services.


Homogeneous products are similar in nature and characteristics, like basic agricultural goods.

Heterogeneous products have distinct characteristics and features, such as luxury cars or custom-made furniture.

Product Classification:

Consumer Products:

Convenience Products: Everyday items consumers buy frequently with minimal effort (e.g., toothpaste, snacks).

Shopping Products: Products consumers compare and shop around for before purchasing (e.g., clothes, electronics).

Specialty Products: Unique products with specific characteristics or brand recognition that consumers actively seek (e.g., high-end watches, designer clothing).

Unsought Products: Products that consumers are not actively looking to purchase, often requiring marketing efforts to create awareness (e.g., insurance, burial plots).

Industrial Products:

Material and Parts: Products used in the manufacturing process (e.g., raw materials, components).

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Capital Items: Products that aid in the production process but are not directly used in the final product (e.g., machinery, buildings).

Supplies and Services: Products used in the daily operations of a business (e.g., office supplies, maintenance services).

Product by Relationship to Consumer Needs:

Staple Products: Basic goods that are consistently in demand (e.g., bread, milk).

Impulse Products: Products bought on impulse without much thought (e.g., chocolates, magazines).

Emergency Products: Products purchased in response to an urgent need (e.g., spare tire, medical supplies).

Understanding the characteristics and classifications of products helps businesses tailor their marketing strategies, distribution channels, and product development efforts to meet the specific needs and preferences of their target audience.

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.

4. 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 Solved Assignment 2023-24 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.

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