Outcome 1, 4.2 & 4.3 Outcome 1.

Marketing

a. Compare the definitions of marketing given below, what are the differences and similarities in these definitions. Which one of the above do you like more, Give reasons. (Pass) Marketing is the performance of business activities that direct the flow of goods and services from organizations to their customers (General Definition) Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements efficiently and profitably (Chartered Institute of Marketing) Marketing is the process of determining consumer demand for product, motivating its sale, and distributing it into ultimate consumption at a profit. (General Definition) SIMILARITIES The similarities in the given three definitions are as follows: Among three definitions, business activities are mentioned Customer orientation is also clear in all Organizations objectives and goals such as profitability and efficiency are also mentioned Consumers demand and requirements are also anticipated

DIFFERENCES The main differences in these three definitions are The first definition concentrates the flows of goods and services from organization to its customers. It does not talk about customer needs. The second definition talks about management how it is responsible towards making profit. It lacks in definition of achieving organizational goals and objectives The third definition does not tell about achieving organizational goals while fulfilling customer satisfaction.

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Outcome 1, 4.2 & 4.3

Marketing

The definition which I like the most is second one, because it is more elaborated from other two definitions and from marketing point of view it basically states the process of anticipates and satisfying consumer needs with organizational interest.

Outcome 1.2 b. Please Identify and discuss any two of the following characteristics of marketing oriented organization. Give one example in each case. (Pass)
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Customer and Competitor Orientation Efficiency and Effectiveness Business Orientation

CUSTOMER AND COMPETITOR ORIENTATION Customer orientation is defined is the customer is always right and customer is king. It is based on customer satisfaction and fulfilling their needs instead of depending organization technical competence to produce particular range of products and relying on sales force. An organization cannot run without its customers. It is the commitment of an organization to identify that what customer wants and provide them with it. For example PIA, telecommunication companies likes PTCL, telenor, zong etc. Competitor orientation is the awareness and understanding of competitor activities. Competitors evaluate each other position in the market and understanding of strength and weaknesses and of strategic approach. For example Jazz and Ufone both advertise and promote their packages on the same time because they understand of each other competitiveness. EFFICIENCY AND EFFECTIVENESS Efficiency is doing something well. It is described as minimum input and maximum output. Effectiveness is achieving a given task on right time. For example a student going from home to university, reaching there is effectiveness, while reaching there quick in time by any vehicle transport is efficiency.

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Outcome 1, 4.2 & 4.3 Outcome 1.3 c. Explain the following elements of the marketing concept (Pass)
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Marketing

Integrated Marketing SWOT Analysis Environmental Analysis

SWOT ANALYSIS Peter Stimpson defines SWOT analysis as the assessment of the internal strengths and weaknesses and external opportunities and threats for a business in a given situation. It clarifies issues and problems but it does not take decisions for a business. The SWOT analysis for pizza hut is as under.. ENVIRONMENTAL ANALYSIS It is the evaluation of the possible or probable effects of external forces and conditions on an organization's survival and growth strategies. Environmental analysis is gathering data regarding political, cultural, social, demographic, economic, legal, international and ecological forces, identifying trends affecting agency. Outcome 1.4 d. Consider UFone as a case; please discuss benefits and costs of any two of the marketing approaches from the following, which the above mentioned cellular company is following: (Pass)
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Services and Customer Care Relationship Marketing Customer Retention

SERVICE AND CUSTOMER CARE Customer care should be the main focus of any organization. It closes the gap between customer expectations and customer experience. Through customer care and by providing

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Outcome 1, 4.2 & 4.3

Marketing

best services Ufone can win more customers. Best signals, good voice quality and Free help line service they will give customer a benefit but will bare the costs attached to it. CUSTOMER RETENTION It is basically customer loyalty and gaining their trust. If the customer is satisfied they will retain their customers as well as will win more customers and can lead to increase sales. The latest deals that Ufone offer to retain its customer is to re used old Sims and get free airtime and sms and also can win prizes. Outcome 4.2 e. Explain the differences in marketing products and services to organizations rather than consumers- Give appropriate examples (Pass) There is often a great deal of misunderstanding about marketing. People often consider marketing to be the same as advertising. It's not. Advertising is only one part of marketing. Very simply put, marketing is the wide range of activities involved in making sure that you're continuing to meet the needs of your customers and getting value in return. Market analysis includes finding out what groups of customers (or markets) exist, what their needs are, what groups of customers you prefer to serve (target markets), what products or services you might develop to meet their needs, how the customers prefer to use the products and services, what your competitors are doing, what pricing you should use and how you should distribute products and services to customers. Results of this marketing analysis indicate the position, or market "niche", for the organization to work from -- and to be seen as having. Marketing also includes ongoing promotions, which can include advertising, public relations, sales and customer service. Various methods of market research are used to find out information about markets, target markets and their needs, competitors, market trends, customer satisfaction with products and services, etc.

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Outcome 1, 4.2 & 4.3

Marketing

Product (or service) management includes a wide range of management activities, ranging from the time that there's a new idea for a product to eventually providing ongoing support to customers who have purchased the new product. Every organization conducts product management, whether it's done intentionally or unintentionally. This module provides a wide overview of considerations in developing and managing a product. How a product is developed or managed is depends very much on the nature of the organization and its products, for example, retail, manufacturing, wholesale, etc. Note that different people might even have different categorizations for the activities described below.

Outcome 4.3 f. Explain how and why international marketing differs from domestic marketing Give Examples (Pass)

INTERNATIONAL MARKETING International marketing is marketing abroad i.e beyond the political boundaries of the country. International marketing brings countries closer due to economic needs and facilitates understanding and co-operation among them. International marketing act as an instrument of global growth and development .International marketing involves the firm in making one or more marketing mix decisions across national boundaries. International marketing is often not as simple as marketing your product to more than one nation. DOMESTIC MARKETING Domestic marketing is marketing aimed at a single market. The part of a nation's market that represents the systems of trading securities of entities located within that nation. A company marketing only within its national boundaries only has to consider domestic

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Outcome 1, 4.2 & 4.3

Marketing

competition. Even if that competition includes companies from foreign markets, it still only has to focus on the competition that exists in its home market.

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