Assignment 1 (marketing).

1. Microlink IT and Business College
Postgraduate School
MBA Program
Advanced Marketing Management
Assignment 1 (Instructor By Dr. Mulu A.)
Deadline: July 20/2020
Attempt the Following Questions
1. “Marketing Begins and Ends with the Consumer “ – Discuss
Definitely marketing begins and end with consumer because a firm before producing a product is
thinking on the product which consumer will use so as to satisfy them by this the organization is
more focusing on marketing mix so as to meet customer’s needs.
In the beginning, marketers attempt to comprehend the needs and wants of the customers. They
wish to satisfy those needs and thereby earn profit for the organization and its stakeholders. The
4 P's- product, price, place and promotion are the crucial attributes .To comprehend the client so
well on how products or administration fits them well and sells itself is the main aim of
marketing. Advertising is basically the craftsmanship and study of getting and keeping
productive and important clients, at the center of each business. This necessitates you completely
comprehend the issues and worries of your market and can plainly clarify how you can take care
of these issues. It is pivotal to comprehend that advertising is a continuous procedure that applies
to each contact with your objective market, all aimed to reaching a consumer. It is basic to
survey and figure out what your very own client helpers may be. In era of much of development,
and explosive ideas over all business sectors, it is important to maintain consumers.
2. Consumer around the world varies tremendously in age, income, education level and tastes.
They also buy incredible variety of goods and services. As a marketer how do you think that
consumers make their choices among various products embraces a fascinating array of
factors?
These marketers, who understand that they are in the customer-experience business, understand
that how a firm delivers for customers is beginning to be as important as what it delivers.
Customer experience encompasses every aspect of a business entity’s offering: the quality of
customer care, product service and features, promotion/communication, packaging, labeling,
ease of use, and reliability.

2. Therefore, consumers make their choices among various products based on to the common;
Brand packaging: - Branding is the set of activities designed to create a brand and position it in
the minds of consumers, so this could have an influence on consumer preferences. Thus,
packaging can make it easy for the customer to find the brand. So different colors, shapes,
textures and type face than competition.
Product placement; - this is b/c product placement is becoming an increasingly important way
for brands to reach their target audience in subtle ways. Businesses are using product placement
to increase their sales, brand awareness, and draw in customers – all without “traditional ads.
Pricing: - The price of products depends as much on how and to whom it is being marketed as
on its inherent value. Cheap goods are promoted to the market at low prices to encourage mass
buying; other goods, sometimes no better in quality, are sold at higher prices as luxury items to
people who can afford them.
Brand reputation: - Brand is currently one of the most important tools in the battle for the
consumer. Therefore, positioning of the brand nowadays is a priority element in the marketing
strategy of the enterprises. Each of them strives to effectively reach the consumer through
various sources of marketing communications.
3. Organizations that sell to consumer and business markets recognize that they cannot appeal
to all buyers on those markets or at least not to all buyers in the same way. Buyer are too
numerous, too widely scattered, and too varied in their needs and buying practices. Briefly
discus the basis to be followed by marketing managers to develop and sell the right product?
As has discussed above, previously companies held fast to mass marketing, which means mass-
producing, mass-distributing, and mass-promoting about the same product in about the same way
to all consumers, because they thought that mass marketing creates the largest potential market.
However, the diversity of consumers and fierce competition has made it hard to practice mass
marketing. Thus not surprisingly, many companies are now retreating from mass marketing and
turning to segment marketing, and history has already read (or is reading) this typical, or the very
story in China today. So, the basis to be followed by marketing managers to develop and sell the
right product this time right is segmentation bases or variables. They are features of individuals,
groups or organizations and often used by marketers to divide a total market into segments. The
choice of segmentation bases is significant because an inappropriate segmentation strategy may
lead to lost sales and missed profit opportunities. The key is to identify bases or variables which

3. will produce substantial, measurable, and accessible segments which are crucial for carrying out
right marketing mixes.
The followings are the four business segments for consumer markets.
The first segment is programmed buyers who view the product as not very important to their
operation. They buy it as a routine purchase item, usually paying full price and receiving below-
average service. Clearly, this is highly profitable segment for the vendor.
The second one is relationship buyers who regard the product as moderately important and are
knowledgeable about competitive offerings. They get a small discount and a modest amount of
service and prefer the vendor as long as the price is not far out of line. They are the second most
profitable group.
The third segment is transaction buyers who see the product as very important to their
operations. They are price and service sensitive. They are knowledgeable about competitive
offerings and are ready to switch for a better price, even at the sacrifice of some service.
The last one is bargain hunters who see the product as very important and demand the deepest
discount and the highest service. They know the alternative suppliers, bargain hard and are ready
to switch at the slightest dissatisfaction. The company needs these buyers for volume purpose,
but they are not very profitable.
In a world, compared with those companies opening up to the whole market, the companies
which serve market segments usually offer values to the customers well and then gain better
returns, since they know the needs of customers better. Therefore, an enterprises manager should
at the very beginning determine which industries they should serve. Of course, the promising
industries are always chosen. Within the industries which are chosen, the manager should further
the segments according to its size or location and moreover, design different systems of
management for different branch segments.
4. Product and service branding, packaging, labeling and product support services have an
important role in marketing. Discuss How?
These Product-mixes are an important part of marketing-mix haveing an important role in
marketing. None finds a pragmatic concern aloof from branding, packaging, labeling and product
support services. Brand names came to create identity to distinguish one product from another.
Identifying is essential to competition because, without means of identification there is no way of

4. making a choice except by happen stance. Brand names not only facilitate choice but they spur to
a responsible action. Hence, Brand is a Massive Asset, Promotional Tool, a Weapon to Protect
Market, a Means of Identification for Customers. In modern dynamic and competitive marketing
conditions, the role of packaging cannot be underestimated. It has become a highly specialized
activity building the fortunes of producers, extending the stay of middlemen and expanding the
convenience to the consumers. The role of packaging is self-evident from the specific functions
it performs. It protects the contents, provides product density, and acts as promotional tool,
provides user convenience, and facilitates product identification.
Whereas, labeling is another significant means of product identification like branding and
packaging. Labeling is the act of attaching or tagging labels. A label is anything may be a piece
of paper, printed statement, imprinted metal, leather which is either a part of a package or
attached to it, indicating value of contents of price of product name and place of producers. It
carries verbal information about the product, producer or such useful information to be beneficial
to the user. Thus, a label is an informative tag, wrapper or seal attached to a product or product’s
package. While, product support services after sales plays an important role in customer
satisfaction and customer retention. It generates loyal customers and increases a brand value.
Customers start believing in the brand and get associated with the organization for a longer
duration. They speak well about the organization and its products and services. A satisfied and
happy customer brings more individuals and eventually more revenues for the organization for
long time. So, this plays a pivotal role in strengthening the bond between the organization and
customers.