Tutorial 1 & 2: 1. What Is Marketing?

Tutorial 1 & 2
1. What is marketing?
A process or action of promoting companies’ value for customers and to build a strong
customer relationship to capture value from customers in return.
2. Explain briefly the steps in marketing process
 Understand the market place and customer need and wants: - this step is very
important as without understanding the micro and macro environment, where the business
is operated, also understanding the expectation of the customers and the trends of the
market it will be difficult to create a builder marketing program that are effective.
 Design a customer – driven marketing strategy: - It will be based on the
requirement of the market dependency on the product that the company is targeting market
program has to develop, as such it will affect the requirements of the market, as it will
reflect the requirements and expectations of the customers.
 Constrict on integrated marketing program that delivers superior vale: - Whole
marketing communication, promotion activities selling all these has to be integrated with
marketing program, so that companies be able to communicate customers effectively.
 Build profitable relationship and create customers delight: - it most varies to
customers related programs like promotions, customer is willing to be your loyal customer
base, as company deliver with the customer need and wants.
3. Explain briefly the five core marketplace concepts.
 Customer needs, wants and demands: - the customer needs divided for three
sources which are physical (food, clothing safety), social (belonging and affection) and
individual (Knowledge, self and expressions), human needs as they are shaped by culture
and individuals, personality, it will vary customers by customer. The customer demand will
be based on human work.
Customer demand is based on human wants backed by buying power. Customers my have
sudden expectations demand from the company.
 Marketing offerings are some combinations of products, services information, or
experience offered to a market to satisfy a need or want. Market offering are not limited to
physical products. They also include services activities or benefits offered for sale that are
essentially intangible and do not result in the ownership of anything.
 Customer value and satisfaction, customer usually face a wide range of products
and services of market offering that might satisfy a certain need. Customers value and
satisfaction are key building blocks for developing and managing customers relationship.
 Exchange and relationship, marketing occurs when people decide to satisfy their
needs and wants through exchange relationship. Marketers tries to bring about a response
to some marketing offerings, and they try to build and maintain profitable exchange
relationship with target audience interested in an exchange.
 Markets, the concepts of exchange and relationships lead to the concept of
market. Marketing efforts are undertaken for control markets to bring about profitable
customer relationships for creating these relationships marketers must search for buyers
and their needs, design good. Market offering set price of them, store and deliver them.
4. Discuss trends impacting marketing and the implications of these trends on how
marketers deliver value to customers.
The uncertain economic environment, today’s market condition and consumers behavior
affected by certain economic activities such as down, depression etc.
5. Discuss the advantages and disadvantages of consumer-generated marketing.
Advantages
 Some companies ask consumers for new product ideas.
 Some companies are invi9ting customers to play and active role in shaping ads for
example, southwest airline, master card, Hen’z and many more other companies have run
contests for consumers – generated commercial that have been aired on national television.
Disadvantages
 Consumer-generated content can be time consuming about costly process and
companies may fond it difficult.
 Consumer – generated marketing whether invited by marketers or not, it has
become significant marketing force. Due to consumer- generated videos blogs, etc, will
increase the role in shaping their own brand experience. Beyond creating brand
conversations, customers are having and increasing. Say about everything from product
design usage and packing to pricing and distil button.
6. What is the purpose of a SWOT analysis?
SWOT is to get managers thinking about everything that could potentially impact the
success of new project failure to consider a key strength, weakness, thread or opportunity
could lead to poor business decisions.
7. How can a SWOT analysis be carried out? What are the critical issues?
There are several ways to carried out a SWOT analysis. It depends on how you choose to
structure your analysis, it can be started by asking series of questions like,
 What do your customers love about your company or product.
 What dose your company do better that other companies in your industry.
 What are your most positive brand attributes?
 What your unique selling proportion.
 What resources do you have at your disposal that your competitors donate?
8. What are the differences between marketing objectives and marketing strategies?
Marketing Objectives: - are the goals of a company’s marketing campaigns. And example
of a SMART marketing goal is to increase sales by5 percent within six months.
Marketing strategy: - provide the detailed blueprint on how to achieve the marketing
objectives. Strategies list which steps to take, specific action necessary to achieve each step
and the expected time by which to accomplish each stage.
9. What is product /market expansion grid? Briefly explain the grid with examples.
Product is anything that can be offered to a market attention, acquisition, use or
consumption that might satisfy want or need.

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