This document contains a mid-term exam for a marketing management course taken by Al Amin. The exam contains 9 questions related to marketing concepts. Question 1 asks about how the student views marketing and its importance in the 21st century. Question 2 asks about different demand states with examples. The remaining questions cover topics such as types of needs, the marketing iceberg concept, value chains, experiential marketing, consumer resistance, marketing orientations, marketing plans, and growth strategies.
Presenting this set of slides with name - Marketing Mix Powerpoint Presentation Slides. We bring to you to the point topic specific slides with apt research and understanding. Putting forth our PPT deck comprises of seventy four slides. Our tailor made Marketing Mix Powerpoint Presentation Slides editable presentation deck assists planners to segment and expound the topic with brevity. The advantageous slides on Marketing Mix Powerpoint Presentation Slides is braced with multiple charts and graphs, overviews, analysis templates agenda slides etc. to help boost important aspects of your presentation. Highlight all sorts of related usable templates for important considerations. Our deck finds applicability amongst all kinds of professionals, managers, individuals, temporary permanent teams involved in any company organization from any field.
A STUDY ON EFFECTIVE BRAND PROMOTIONAL STRATEGIES INFLUENCING CUSTOMERSIAEME Publication
The paper aims to investigate the effectiveness of brand promotional strategies by Max retail, which influences the customers to purchase. Data set included use of and influence of outdoor and in-store promotional tools. These were investigated to determine impact and effect of the promotions. There is a good response about the hoardings kept in the store and POP for the internal communications and promotions and through this research study, many of the customers have shown their neutral opinion about the contests/sweepstakes/games. One third of the respondents are respond ed that the paper advertisement helps them to know the offers of Max.
Presenting this set of slides with name - Marketing Mix Powerpoint Presentation Slides. We bring to you to the point topic specific slides with apt research and understanding. Putting forth our PPT deck comprises of seventy four slides. Our tailor made Marketing Mix Powerpoint Presentation Slides editable presentation deck assists planners to segment and expound the topic with brevity. The advantageous slides on Marketing Mix Powerpoint Presentation Slides is braced with multiple charts and graphs, overviews, analysis templates agenda slides etc. to help boost important aspects of your presentation. Highlight all sorts of related usable templates for important considerations. Our deck finds applicability amongst all kinds of professionals, managers, individuals, temporary permanent teams involved in any company organization from any field.
A STUDY ON EFFECTIVE BRAND PROMOTIONAL STRATEGIES INFLUENCING CUSTOMERSIAEME Publication
The paper aims to investigate the effectiveness of brand promotional strategies by Max retail, which influences the customers to purchase. Data set included use of and influence of outdoor and in-store promotional tools. These were investigated to determine impact and effect of the promotions. There is a good response about the hoardings kept in the store and POP for the internal communications and promotions and through this research study, many of the customers have shown their neutral opinion about the contests/sweepstakes/games. One third of the respondents are respond ed that the paper advertisement helps them to know the offers of Max.
Principles of Marketing (waqas@hazara.edu.pk)Waqas Khan
A Series of Lectures By:
Waqas Ahmad Khan
M.Phil. (Quality Assurance Management)
These lectures on Marketing were delivered by Waqas Ahmad Khan in MBA, ACCA and CAT classes of different Colleges and Universities.
+92-300-9119770
Relationship Marketing - Your Customers Are Human - lecture for City of Scott...Mike Jones ⚡
This was a lecture I gave to a small business course put together by the City of Scottsdale with Francine Hardaway and Philip Blackerby of Stealthmode Partners.
Marketing in our digital world is getting increasingly noisy. And while Inbound Marketing has done a great job of helping focus businesses on creating content (rather than just ads), it has some flaws. In this presentation we'll look at the pros and cons of Inbound Marketing and help put a new relationship-first framework together that will help businesses serve their customers well with their marketing content. The end result? More customers who are more loyal and more likely to share and refer your content and your business with others.
[Project] Retail Management Report Brands Versus Private Labels- Fighting to WinBiswadeep Ghosh Hazra
INTRODUCTION-
Private label brands are on the rise right now everywhere in the world and command a higher unit share than the strongest of national brands in 77 out of 250 product supermarket categories which is an astonishing 31% and even in 100 of those categories, Private Label comes a close second or third position. However, manufacturers do not realize that sales of private labels sales vary with the economic conditions of the country they are operating in. Their share goes up when the economy is suffering and tanks in stronger growth periods.
The proof of this claim is evident from the following fact- During the last 20 years, Private Label share of markets has averaged out at a decent 14% of the U.S dollar supermarket sales. This share was 17% during 1981-82 at the peak of the recession and in the year 1994, this share dropped to 14.8% despite receiving media adulation. Private labels have managed to pressurize strong national and international brands but brands must also assess the threats that are possible from private labels and whether they will decline or mature in the future.
European Markets have seen quite success with Private Label Brands and compared to USA supermarkets which has only 15% of their sales come from Private Label Brands, European supermarkets has 54% of their sales from PLBs. This is because in Europe, the television markets are highly regulated and hence advertising is limited. Also, grocery chains dominate the entire European landscape and hence retailers hold more power in relation to manufacturers than in the United States of America.
Strategic Marketing Plan Powerpoint Presentation SlidesSlideTeam
Every business professional dreams of building an organization that makes it recognizable in the marketplace. Also, it takes a lot of effort to market new products and reach out to more customers. This can be done if a business works with a complete strategy and proper guidelines. To run a successful marketing business, it is important to have better planning that executes the product in the market without any failure. Presenting our content ready Strategic Marketing Plan PowerPoint Presentation Slides that helps to showcase the methods you use to conduct market research and new trends. With the aid of this marketing strategy PPT layout, you can explain the process of evaluating opportunities along with the probability of success. Use our marketing plan presentation template to determine the steps that are needed to connect with customers that make them aware of the product. Showcase the steps like create customer value & loyalty, analyzing the consumer market, analyzing business markets, and identifying market segments & targets. Design a customer-driven marketing program by downloading our easy-to-customize strategic marketing plan PPT slide. https://bit.ly/3d915lk
Principles of Marketing (waqas@hazara.edu.pk)Waqas Khan
A Series of Lectures By:
Waqas Ahmad Khan
M.Phil. (Quality Assurance Management)
These lectures on Marketing were delivered by Waqas Ahmad Khan in MBA, ACCA and CAT classes of different Colleges and Universities.
+92-300-9119770
Relationship Marketing - Your Customers Are Human - lecture for City of Scott...Mike Jones ⚡
This was a lecture I gave to a small business course put together by the City of Scottsdale with Francine Hardaway and Philip Blackerby of Stealthmode Partners.
Marketing in our digital world is getting increasingly noisy. And while Inbound Marketing has done a great job of helping focus businesses on creating content (rather than just ads), it has some flaws. In this presentation we'll look at the pros and cons of Inbound Marketing and help put a new relationship-first framework together that will help businesses serve their customers well with their marketing content. The end result? More customers who are more loyal and more likely to share and refer your content and your business with others.
[Project] Retail Management Report Brands Versus Private Labels- Fighting to WinBiswadeep Ghosh Hazra
INTRODUCTION-
Private label brands are on the rise right now everywhere in the world and command a higher unit share than the strongest of national brands in 77 out of 250 product supermarket categories which is an astonishing 31% and even in 100 of those categories, Private Label comes a close second or third position. However, manufacturers do not realize that sales of private labels sales vary with the economic conditions of the country they are operating in. Their share goes up when the economy is suffering and tanks in stronger growth periods.
The proof of this claim is evident from the following fact- During the last 20 years, Private Label share of markets has averaged out at a decent 14% of the U.S dollar supermarket sales. This share was 17% during 1981-82 at the peak of the recession and in the year 1994, this share dropped to 14.8% despite receiving media adulation. Private labels have managed to pressurize strong national and international brands but brands must also assess the threats that are possible from private labels and whether they will decline or mature in the future.
European Markets have seen quite success with Private Label Brands and compared to USA supermarkets which has only 15% of their sales come from Private Label Brands, European supermarkets has 54% of their sales from PLBs. This is because in Europe, the television markets are highly regulated and hence advertising is limited. Also, grocery chains dominate the entire European landscape and hence retailers hold more power in relation to manufacturers than in the United States of America.
Strategic Marketing Plan Powerpoint Presentation SlidesSlideTeam
Every business professional dreams of building an organization that makes it recognizable in the marketplace. Also, it takes a lot of effort to market new products and reach out to more customers. This can be done if a business works with a complete strategy and proper guidelines. To run a successful marketing business, it is important to have better planning that executes the product in the market without any failure. Presenting our content ready Strategic Marketing Plan PowerPoint Presentation Slides that helps to showcase the methods you use to conduct market research and new trends. With the aid of this marketing strategy PPT layout, you can explain the process of evaluating opportunities along with the probability of success. Use our marketing plan presentation template to determine the steps that are needed to connect with customers that make them aware of the product. Showcase the steps like create customer value & loyalty, analyzing the consumer market, analyzing business markets, and identifying market segments & targets. Design a customer-driven marketing program by downloading our easy-to-customize strategic marketing plan PPT slide. https://bit.ly/3d915lk
Assignment Consumerism Affecting Innovation DUE 26As we contin.docxwilliejgrant41084
Assignment: Consumerism Affecting Innovation DUE 2/6
As we continue to explore the impact of emerging technologies on business and society, your second assignment is to prepare a discussion on how the new consumerism is affecting innovation in business. We discussed new consumerism last week (see lecture below pg 2-8). The assignment is as follows:
- Explain consumerism (in your own words!)
- Identify a specific aspect of new consumerism and provide detailed examples of how this new consumerism resulted in innovative responses by an organization of your choosing.
- Provide 3 or 4 bullets on ways that companies can 'listen' (and interact with) their customers in order to not miss innovative opportunities. Think like a consultant: if you had to provide 3 or 4 suggestions for an organization to do, what would you suggest?
_____________________________________________
All original writing please and provide your sources.
A business-like presentation / proper spelling, grammar is important.
“New Consumerism”
Overview
With the onslaught of disruptive technology, consumer behavior and ultimately decision-making is changing like never before. The new age consumers are taking control of their journey, discovering relevant product and service information and making decisions their way in real time. With Internet and social media as their weapon, consumers are making sure that businesses have no other way out, than to compete with each other in real time. The behavior of the interconnected consumers is not only changing, it is opening and closing traditional touch points, places, and ways to engage customers in real time and at the right time. Although we are talking about connected customers here, let’s also learn about the three categories that various consumers fall into –
Generation C is building an efficient human network where information and experiences serve as the ties that bind relationships. Therefore, it seems only fitting that firms apply a human touch in their marketing efforts. It is important that firms follow these four steps to connect with the customers:
1 Listen
2 Learn
3 Engage
4 Adapt
How do we manage the emerging trends being driven by these consumers?
Understanding the customers is the only way to develop effective and meaningful marketing, sales, and service strategies. This is the only way a company is able to develop or inspire a vision to provide their customers the satisfaction and experience they desire. Without this, the experience is left to the customer to determine and share.
This creates chaos and confusion in the market. Since connected consumers are the most influenced by those they know, the brand value of a product or service spirals down faster than one thinks.
This means organizations need to be on top of their products, brand - and customers.
The Dynamic Customer Journey
The Dynamic Customer Journey (DCJ) is about businesses building on existing experiences to retain customers. During the journey,.
5 big bets to drive growth in 2024 without one additional marketing dollar AND how to adapt to the biggest shifting eCommerce trend- AI.
1) Romance Your Customers - Retention
2) ‘Alternative’ Lead Gen - Advocacy
3) The Beautiful Basics - Conversion Rate Optimization
4) Land that Bottom Line - Profitability
5) Roll the Dice - New Business Models
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
How to Run Landing Page Tests On and Off Paid Social PlatformsVWO
Join us for an exclusive webinar featuring Mariate, Alexandra and Nima where we will unveil a comprehensive blueprint for crafting a successful paid media strategy focused on landing page testing.With escalating costs in paid advertising, understanding how to maximize each visitor’s experience is crucial for retention and conversion.
This session will dive into the methodologies for executing and analyzing landing page tests within paid social channels, offering a blend of theoretical knowledge and practical insights.
The Pearmill team will guide you through the nuances of setting up and managing landing page experiments on paid social platforms. You will learn about the critical rules to follow, the structure of effective tests, optimal conversion duration and budget allocation.
The session will also cover data analysis techniques and criteria for graduating landing pages.
In the second part of the webinar, Pearmill will explore the use of A/B testing platforms. Discover common pitfalls to avoid in A/B testing and gain insights into analyzing A/B tests results effectively.
10 Video Ideas Any Business Can Make RIGHT NOW!
You'll never draw a blank again on what kind of video to make for your business. Go beyond the basic categories and truly reimagine a brand new advanced way to brainstorm video content creation. During this masterclass you'll be challenged to think creatively and outside of the box and view your videos through lenses you may have never thought of previously. It's guaranteed that you'll leave with more than 10 video ideas, but I like to under-promise and over-deliver. Don't miss this session.
Key Takeaways:
How to use the Video Matrix
How to use additional "Lenses"
Where to source original video ideas
Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
Key Takeaways:
Understand how search engines work
Be able to find out where your users search
Know what is required for each discipline of SEO
Feel confident creating an SEO Plan
Confidently measure SEO performance
A.I. (artificial intelligence) platforms are popping up all the time, and many of them can and should be used to help grow your brand, increase your sales and decrease your marketing costs.In this presentation:We will review some of the best AI platforms that are available for you to use.We will interact with some of the platforms in real-time, so attendees can see how they work.We will also look at some current brands that are using AI to help them create marketing messages, saving them time and money in the process. Lastly, we will discuss the pros and cons of using AI in marketing & branding and have a lively conversation that includes comments from the audience.
Key Takeaways:
Attendees will learn about LLM platforms, like ChatGPT, and how they work, with preset examples and real time interactions with the platform. Attendees will learn about other AI platforms that are creating graphic design elements at the push of a button...pre-set examples and real-time interactions.Attendees will discuss the pros & cons of AI in marketing + branding and share their perspectives with one another. Attendees will learn about the cost savings and the time savings associated with using AI, should they choose to.
Financial curveballs sent many American families reeling in 2023. Household budgets were squeezed by rising interest rates, surging prices on everyday goods, and a stagnating housing market. Consumers were feeling strapped. That sentiment, however, appears to be waning. The question is, to what extent?
To take the pulse of consumers’ feelings about their financial well-being ahead of a highly anticipated election, ThinkNow conducted a nationally representative quantitative survey. The survey highlights consumers’ hopes and anxieties as we move into 2024. Let's unpack the key findings to gain insights about where we stand.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
Monthly Social Media News Update May 2024Andy Lambert
TL;DR. These are the three themes that stood out to us over the course of last month.
1️⃣ Social media is becoming increasingly significant for brand discovery. Marketers are now understanding the impact of social and budgets are shifting accordingly.
2️⃣ Instagram’s new algorithm and latest guidance will help us maintain organic growth. Instagram continues to evolve, but Reels remains the most crucial tool for growth.
3️⃣ Collaboration will help us unlock growth. Who we work with will define how fast we grow. Meta continues to evolve their Creator Marketplace and now TikTok are beginning to push ‘collabs’ more too.
SEO as the Backbone of Digital MarketingFelipe Bazon
In this talk Felipe Bazon will share how him and his team at Hedgehog Digital share our journey of making C-Levels alike, specially CMOS realize that SEO is the backbone of digital marketing by showing how SEO can contribute to brand awareness, reputation and authority and above all how to use SEO to create more robust global marketing strategies.
Top 3 Ways to Align Sales and Marketing Teams for Rapid GrowthDemandbase
In this session, Demandbase’s Stephanie Quinn, Sr. Director of Integrated and Digital Marketing, Devin Rosenberg, Director of Sales, and Kevin Rooney, Senior Director of Sales Development will share how sales and marketing shapes their day-to-day and what key areas are needed for true alignment.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
Short video marketing has sweeped the nation and is the fastest way to build an online brand on social media in 2024. In this session you will learn:- What is short video marketing- Which platforms work best for your business- Content strategies that are on brand for your business- How to sell organically without paying for ads.
Core Web Vitals SEO Workshop - improve your performance [pdf]Peter Mead
Core Web Vitals to improve your website performance for better SEO results with CWV.
CWV Topics include:
- Understanding the latest Core Web Vitals including the significance of LCP, INP and CLS + their impact on SEO
- Optimisation techniques from our experts on how to improve your CWV on platforms like WordPress and WP Engine
- The impact of user experience and SEO
Core Web Vitals SEO Workshop - improve your performance [pdf]
Alamin marketing.docx
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.