marketing management

1. SOUTHEAST UNIVERSITY
Mid-term Examination
Course title: Marketing Management
Course Code: MKT515
Section: 1
Prepared for
Iftekhar Shabab Uddin
Faculty Member
Southeast Business School
Southeast University
Prepared By
Al Amin
ID: 2021210004073
Date of Submission: 2nd
January, 2022

2. Q-1: How do you view Marketing in your eyes? Give suitable illustration.
Why is it important? Briefly explain in context of 21stCentury.
The human brain can process visuals up to 60,000 times faster than text. Considering that the
written word has only been around for a very small part of human evolution, this makes sense.
When it comes to marketing, this means that content created with visuals is naturally is more
engaging and interesting for users. Tweets with images, for example, receive up to 5x times the
engagement of those without. Articles with visuals receive 94 percent more views. It is clear that
customers like visuals and prefer the content that contains them. See how this BrightEdge customer
increased ranking image results by optimizing visuals using image SEO efforts.
The right visual will complement your materials and support the points you want to make. You do
not want to pick images that are just there to fill space. These images will seem out of place and
will not add value to your material. Instead, think about the ideas that you want to communicate
to users and find images that will help to cement these messages.
Your visuals should also tie in nicely with your brand so that people can easily make the
connection between the two.
For example, color schemes and language of the visuals can be valuable ways to personalize
images and enhance their value.
Q-2: Briefly explain Demand States with proper example.
Negative demand- This occurs when a major part of the market dislikes the product and may even
pay a price to avoid it. The marketing task is to analyze the reasons for this dislike and to find out
whether a marketing program consisting of product redesign, lower prices, and more positive
promotion could change the customers belief and attitude.
Example of negative demand: Dentist, many people avoid seeing the dentist
No demand- Here the target market may be uninterested or indifferent to the product. For example,
a young couple may not be interested in adopting family planning. The marketing task is to find
ways to connect the benefits of the product with the person's natural needs and interests.
Example: The first Cell phones 1980s

3. Latent demand- Many consumers may share a strong need that cannot be satisfied by any existing
product. There is a strong latent demand for more-efficient vehicles .The marketing task is to
measure the size of the potential market and develop effective goods and services that would
satisfy the demand.
Example - Safe cigarette - Premiere 1980s
Falling demand- Every organization, sooner or later, faces demand for one or more of its product.
The marketer must analyze the causes of market decline and determine whether demand can be re-
stimulated by finding new target markets, changing the products features or developing more
effective communication. The marketing task is to reverse the declining demand through creative
remarketing of the product.
Example: High School student enrollments for college
Irregular demand- Many organizations face demand that varies on a seasonal, daily, or even
hourly basis, causing problems of idle capacity or overworked capacity. Museums are under visited
during weekdays and overcrowded during weekends. Likewise, holiday resorts are visited more
frequently during summer and winter holidays and are idle in other seasons .The marketing task,
called synchro marketing , is to find ways to alter the time pattern of demand through flexible
pricing , promotion and other incentives.
Example: Restaurants and movie theaters on Cape Cod
Full demand- This is an ideal situation. Organizations face full demand when they are satisfied
with their volume of business. The marketing task is to maintain the current level of demand in the
face of changing consumer satisfaction to make sure it is doing a good job.
Example: New England Patriots ticket sales
Overall demand- Some organizations face a demand level that is higher than they can or want to
handle The marketing task called demarketing , requires finding ways to reduce the demand
temporarily or permanently .General marketing and reducing promotion and service is one way of
handling this situation .Selective de-marketing consists of trying to reduce the demand coming
from those parts of the market that are less profitable or less in need of the service .De-marketing
does not aim to destroy demand but only reduce its level, temporarily or permanently .
Examples: Beanie Babies or Tickle Me Elmo
Unwholesome demand- Unwholesome products require organized efforts to discourage their
consumption. Campaigns have been conducted against cigarettes, alcohol, hard drugs, etc. The

4. marketing task is to help people give up the habit by using such tools as fear communications,
price hikes, and reduced availability.
Examples: Excessive Beer consumption
Q-3: What are different types of needs in marketing? Briefly explain it with
suitable examples.
Needs can be basically divided into Physical Needs, Social Needs, and Individual Needs.
 Physical needs include the basic human requirements such as air for breathing, food, water,
clothing, and shelter.
EX:food, shelter, and clothing.
 Social needs are the requirement for belongings and affection from friends and family.
EX:Social networking sites (Facebook, Twitter, Instagram)
 Individual needs can be varied depending on each person's perception, knowledge, and
environment.
EX: I need clothing to survive, but I want a $100 outfit from BRANDX2, instead of the $30 outfit
from BRANDX
Q-4: ‘Selling is the only tip of the iceberg’, explain this statementin contextof
marketing theory with necessaryargument/s.
"Tip of the iceberg" doesn't appear to be in anyway a scientific term, and is just used idiomatically.
However, the word "iceberg" comes from the Dutch word, ijsberg, meaning ice mountain. ... If
that makes it sound more like the very bottom of the iceberg, you may be better off going simply
with the "underwater portion".
"Marketing is too often confused with selling. Selling is only the tip of the marketing iceberg.
What is unseen is the extensive market investigation, the research and development of appropriate
products, the challenge of pricing them right, of opening up distribution, and of letting the market
know about the product. Thus, Marketing is a far more comprehensive process than selling."

5. Q-5: What is Value Chain? How it can be source of Competitive Advantage
for any Company?
A company's value chain allows it to create a competitive advantage over its competitors. A
strong value chain management team helps a company create high value and a strong
competitive advantage in any or all of the value chain's five steps.
A strong value chain management team maximizes the value of each one of the five interrelated
activities: inbound logistics, operations, outbound logistics, marketing, and sales and service. To
improve a company's value chain, its value chain management team identifies each part of its
production process and where improvements can be made. These improvements can either
reduce costs or improve production capacity.
The competitive environment for organizations of all shapes and sizes - and in all industry
verticals - is more challenging than ever before. Technological advancements have enabled
businesses to design and build more quickly, sell across multiple channels, react instantly to
changing demands, and cut costs simply by outsourcing an activity. To achieve competitive
advantage, an organization ultimately delivers more value at an equal or lower cost. Value chain
analysis is the method for determining the critical path to enhance customer value while reducing
costs.
value chain analysis will continue to be a relevant and useful tool to develop and maintain a
sustainable, competitive advantage.
Q-6: Briefly explain how experiences, persons, information & ideas can be
marketed?
It is important to remember that the "product" in marketing is used in its broadest sense and can
incorporate the following categories:
Goods
Goods are physical items that can be seen, touched, owned and used in some physical manner.
Examples of goods include food, furniture, cars, clothing, shoes, laptops, mobile phones, books,

6. flowers, kitchen appliances, and so on. Probably the easiest way to think about goods is to consider
the products that you can buy in a shop.
Services
As mentioned above, in most developed economies, services the production of services
constitutes the majority of GDP. Services are a little harder to understand as they are intangible -
meaning that they cannot be touched or owned.
Some common services are banking and insurance, medical and health, education, hotels,
hospitality and restaurants, hairdressers, legal firms, accounting services, not-for-profit firms,
and so on
Events
Events can be marketed - probably the most famous ones are the large, global sporting events -like
the Olympics, the World Cup, tennis and golf tournaments, boxing matches and so on. Events can
also include the theater, concerts and various performance shows and other entertainment.
Experiences
By combining several goods and services a company offers, it may create an outstanding
experience for its customers. Marketers create, stage, and market experiences to increase the
quality of their company's image or brands thus increasing the number of positive associations in
the minds of the buyers. Many firms within the holiday and tourism markets seek to deliver an
experience. A good example here would be Disneyland, or an exotic cruise.
People
Each person can become a brand with the help of a celebrity marketer. Artists (musicians, actors,
directors and so on) are those who come first in people's mind when they think about marketing a
person. But, you may also build a brand for a CEO, successful lawyers, doctors and many other
professionals.
Places
In order to attract tourists or companies to a certain place, people use marketing techniques to
communicate its value. Therefore, we can surely talk about marketing for towns, cities and regions.
In addition to this, every country has its own unique marketing approach and there are many
tourism authorities for many regions throughout the world.

7. Information
Recently there had been developed the idea of an information marketplace. This is why we can
talk now about an industry focused on producing, packaging and distributing information. Like
any other industry, it is marketing driven and requires effective strategies to market information.
Ideas
Each and every offering, either a product or a service, is actually the platform for selling an idea.
In addition to this, we notice that social marketing is focused on promoting ideas to benefit certain
social actions and changes.
Q-7: Define Consumerresistance with example. What are marketing
orientations? Briefly explain them with suitable example. Which concept/s
is/are adopted by the most companies?
consumers' unwillingness to buy a product or BRAND because of their misgivings about it. Their
objections could be based on some dislike of the product's functional attributes, their view about
its price and value to them, or antipathy towards the product's image.
The model's survival is a great example of consumer resistance to unwanted 'product development'
by manufacturers.
Market orientation is an approach to business that prioritizes identifying the needs and desires of
consumers and creating products and services that satisfy them. ... It may sound obvious, but
advocates of market orientation argue that the conventional approach to product development is
the opposite.
example, companies like Amazon have anticipated the needs of their customers and tried to make
their plans around it. It knows that most of the consumers do not like to pay the delivery charges.
Hence they have offered various options for free or minimum payment delivery.
The marketing concept is the strategy that firms implement to satisfy customers' needs, increase
sales, maximize profit, and beat the competition. There are 5 marketing concepts that organizations
adopt and execute. These are;

8.  production concept - This concept is one of the oldest Marketing management orientations
that guide sellers Ad by Value impression Companies adopting this orientation run a major
risk of focusing too narrowly on their operations and losing sight of the real objectives
 product concept -Marketing strategies are focused on making continuous product
improvements. Product quality and improvement are important parts of marketing
strategies, sometimes the only part. Targeting only on the company's products could also
lead to marketing myopia.
 selling concept -Here the management focuses on creating sales transactions rather than on
building long-term, profitable customer relationships. In other words, the aim is to sell what
the company makes rather than making what the market wants. Such an aggressive selling
program carries very high risks.
 marketing concept - The marketing concept is a customer-centered "sense and responds"
philosophy. The job is not to find the right customers for your product but to find your
customers' right products. The marketing concept and the selling concepts are two extreme
concepts and different from each other.
 societal marketing concept - It calls for sustainable marketing, socially and
environmentally responsible marketing that meets consumers' and businesses' present
needs while also preserving or enhancing future generations' ability to meet their needs.The
Societal Marketing Concept puts human welfare on top before profits and satisfying the
wants.
Q-8: What is marketing plan? At what different levels is it planned? Briefly
explain.
A marketing plan is a report that outlines your marketing strategy for the coming year, quarter or
month. Typically, a marketing plan includes:
 An overview of your business's marketing and advertising goals.
 A description of your business's current marketing position.
 A timeline of when tasks within your strategy will be completed.
 Key performance indicators (KPIs) you will be tracking.
 A description of your business's target market and customer needs.

9. A single plan would be ideal, but in practice, different types and scales of business will need
different types of plans. It can help to define the scope and purpose of each one, you should define,
for example for a multichannel marketing plan, this could be:
 Purpose: To define a strategy and plan resources needed to achieve business sales
targets.
 Timeframe: Annual, typically. Could have a longer-term outlook e.g. 18 months to three
years.
 Scope: The focus is on marketing communications techniques to deliver leads and sales
target for defined products. It can apply to a complete business, or if there are multiple
markets and product categories, a single market.
 Channels: Includes online channels and offline media as required.
Q-9: What do you understand by intensive, integrative & diversification
growth? Briefly explain with examples. Which strategyis ideal & why?
Intensive growth is when a firm grows by expanding its product line or its market reach. Thus, if
a firm introduces a new product, enters a new market, or further develops its own competency,
than the firm is undergoing intensive growth. Intensive growth strategies are likely to help the firm
grow in the market faster and make the company stronger.
Strategies for intensive growth.
Market penetration - Market penetration is the most commonly used strategy for intensive
growth. This strategy is used when the current products are expanding in current markets. Thus a
firm might reduce the price of the product to penetrate the market better. This ensures that the firm
expands its market share and shows intensive growth.
Market development - Market development happens when an existing product is introduced in a
new market environment. In such a case, the company will have to use various promotional tactics
as well as implement a marketing strategy to cover the new market.
Product development - Another form of intensive growth strategy is the product development
strategy. When the current market is showing interest in a new product, than by product
development, the company can increase its customer base and thereby show intensive growth.

10. Diversification strategy - The last strategy of intensive growth is diversification strategy. Most
commonly observed in geographical expansion, this form of intensive growth strategy takes place
when a new product is introduced in a new market. Thus the challenges involved in diversification
strategy is huge, but if the strategy is a success, than the profit and return on investment is huge as
well.
Integrative Growth Strategies
An integrative growth strategy is a growth strategy that emphasizes blending businesses together
through acquisitions and mergers Integrative growth strategies are typically more expensive than
intensive growth strategies and are usually practiced by mature businesses with large cash flows.
There are two types of integrative growth strategies
: • Vertical Integration. An integrative growth strategy in which one business acquires another
business in its own supply chain, but not at the same supply chain level) is a vertical integration
strategy. An example of this type of growth strategy is when a retail store buys a wholesaler.
Another example is when a manufacturing business buys a retail store in which its products are
sold.
• Horizontal Integration. An integrative growth strategy in which one business acquires another
business at the same supply chain level as itself is a horizontal integration strategy. When one
manufacturing company buys another manufacturing company, that's a horizontal integration
strategy. The acquired business may be a competitor or a business in a completely different
industry.
Diversification Growth Strategies
Every business has a core business, which is the most important focus of the business. For example,
the core business of McDonald's is selling fast food. A diversification growth strategy is a growth
strategy in which a business grows by offering products or services that are different from its core
business. There are two types of diversification growth strategies:

11. • Synergistic Diversification. A growth strategy in which a business adds new products or services
that are related to its existing products or services is a synergistic diversification. A clothing store
that begins selling shoes practices this type of growth. So does an event‐ planning business that
begins to offer catering services.
• Horizontal Diversification. A growth strategy in which a business adds new products or services
that are not related to its existing products or services but appeal to its existing target market is
called horizontal diversification. Recently some large grocery stores have begun offering credit
cards to their customers. This is an example of horizontal
diversification. Another example would be a gas station.
Q-10:If you are marketing manager of ABC Corporation, how would you
apply Porter’s Generic Model for your products or services?
Every organization needs a clear strategy. When I was the Chief Marketing Officer of ABC
Corporation, it was my duty to decide on the best strategy for the business. The decisions I make
will impact all aspects of the business, so doing it right is crucial. Harvard professor Michael Porter
identifies three strategies for achieving competitive advantage in his book, Competitive
Advantage: Creating and Maintaining Outstanding Performance. There are cost leadership
strategies, differentiation strategies, and focus strategies. He then divided the focus strategy into
two parts, focusing on costs and focusing on differentiation.
Differentiation Strategy
This strategy aims to make my product or service attractive and unique compared to the products
or services of my competitors. For example, I might specialize in a particular feature or unique
service, be known for stellar customer service, or have a highly regarded brand image. I have to
be creative, innovative, and able to deliver high-quality products or services for this strategy to
work. Sales and Marketing also play an important role in the success of this strategy and I need to
make sure I stay on top of new trends in my industry.

12. Focus Strategy
This strategy focuses on developing products or services for a niche market where my scope is
narrow. Using this strategy requires a deep understanding of my customers' needs. My target
will be to meet these needs by providing that special extra that customers can't get anywhere
else. In that case, I also need to decide whether to adopt Cost focus or Differentiation focus.
Cost Leadership Strategy
This strategy focuses on increasing profits by reducing operating costs and charging lower
prices. To successfully execute this strategy, I will need to be able to invest in new technology
and have an efficient logistics system. I also need to make sure my costs for items like labor,
materials, and fixtures are kept low. It was essential to beating my competition in terms of cost.
So, I have to constantly monitor and reduce my expenses.