Marketing Concepts


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Marketing Concepts

  1. 1. Marketing Concepts Testing your knowledge Q. 1: What is strategic planning? Ans: Strategic Planning The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities. It envolves defining a clear caompany mission, setting supporting objectives, designing a sound business portfolio and coordinating functional strategies. Without strategic planning no organization is survive in the business world. Steps in strategic planning Defined a market oriented mission. Setting company objectives and goals. Designing a business portfolio Coordinating functional strategies Q. 2 What is mission statement? And why it is important to an organization. Ans: Mission statement A statement of the organization’s purpose what it want to accomplish in he larger environment. Importance Mission statement is very important for an organization. A mission statement provides goals for organization. If an organization have no goal and objectives that organization can not survive mission statement to like a road which leads the organization where to go. If the organization have no clear goals and objects why they working. It is like headlites of a van. At night time, no one can travel b there van. At night time, no one can travel by there vans like head lights. The goals or purse which lead an organization. Q.3 What is a SWOT analysis? What role does it play in the planning process? Ans: SWOT analysis When as organization introduce its product, before introducing the product the organization analyses about strength, weakness, opportunities and threats of its product OR keen observe strength, weakness, opportunities and threats before introduce any product is called SWOT analysis. Role in planning process SWOT analysis play an important role in planning process. If any organization do not known about its strength, weakness, opportunities and threats then its planning process can not success. An organization will not know, what its strength like quality, its weakness like small resource, its opportunity like a new market place, threats like other
  2. 2. organization have introduced same products already. With out SWOT analyse no any planning can succeed. Q.4 Explain he BCG Mode for profiles analysis. What is the BCC, Model used for? Ans: port folio analysis defined as, the process by which management evaluates the products and business of making up the company. The BCG Growth /Share Mtrix Stars BCG model explain the port folio of any organization. In stars an organization find out it best product by high growth and high shore. Its sales at the top level. In question mark that product include which has low growth and high share in the market. This product is profitable but it needs fro some investment or work. In cash can that product of company include which have low growth but high share. This product is profitable but its growth is low. In days that product include which have low growth and low share. This product is not much growth and much share. It is going to downsizing. Example : Pepsi Cola BCG model used for analysis of any organization about its business or products. By use this me that an organization knowing about its product that which product is highly profitable a product have need of help and it can be come star & product which given more share but its growth is low and a product have low growth and low share it have no need for help it downsized. Q.5 Describe the four business growth strategies? Ans: Four Function strategies. There are four function strategies for growth and downsizing. 1. Market penetration. 2. Market development 3. Product development.
  3. 3. Market Penetration In this function an organization is try to increase its sale with existing product in existing market. Market development, In this function an organization introduce its product in new market. Product development: In this function an organization introduce its new product in existing market. Diversification: In this function an organization, suppose old organization introduce its new product in new market or an new organization introduce its new product in new market. Marketing Concepts Discussing choices and issues Q.1 The BCG Matric clearly identifies the products of organization as starts, cash cows question mark and clogs. This is to useful way for any organization to examine their business. If an organization introduced its many products. Some products of them are at top level by sale, some are low level some are highly profitable but their sale a decrease. Any organization examine their products to follow BCG matrix. To use this method any organization can know about its product like which product role at high level which product sale is less which product sale is less with high quality and which product is low growth and low share. After examine their business they observe why their products sale is low. They check its quality or advertising. May be the quality of some products low so they increase its quality. It may be help of some advising. They advertising by different ways and increase their sale may be their prices are high than other companies product they can decrease its price may be they have so product which is not give much profit. They have expenenced to increase its sale but it remain unprofitable so they down size it from their company. Examples: Slor Pepsi Cola’s product deu is like star and 70 Cc motorcycle of Honda Company Nokia 1110, Nokia 1600 Question mark like Haleeb chocolates Nokia KIA 6250 Real People Real Surface Exploring the web Q.1 What I thorough organization’s business ? what is the overall purpose of the organization? What does organization hope to achieve? Ans: organization’s books. Purpose of organization the purpose of organization is provide products of all category to their home and save their time the organization hope to achieve customer satisfaction. For this purpose it given total knowledge about its products like price, designs etc. they hove also prepare designs of their products and showing it in their web.
  4. 4. Q.2 What customer does the business want to serve. Ans: The customers want to serve many types of products. They want book like teachers students. They want toyes for their babies. Some want glasses. Some want electrical products. Q.3 What elemats of the web page specking reflect the business of the organization? How is the web page designed to attract the organization’s customs, They designed book of the web page. They designed beautifully to attract the customers. They designed it multi coulors. They arranged their web page by to showing beautiful titles of book. They orange their items in Horizental column. Q.4 Do you think the marketing strategies and other activities of the firm consist with its mission? Why do you feel this way. Ans: Yes , I think the marketing strategies and other activates of the firm are consistent with its mission. Their mission is to serve the people through electric marketing. Their strategies also match their mission for this purpose. They designed their products of the web page. In this way time is not waste. Whom we go to market to buy a item we chose it then know about its price, quality, so we waste are time. But by electronic marketing we survive our time. So this way is good than others ways. Mudassar Salman