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Marketing

Marketing

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Published by umer bin abid
Marketing Assignment og ALOU
Marketing Assignment og ALOU

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Published by: umer bin abid on Apr 24, 2011
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08/03/2014

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Q
Marketing Management (5565)
ALLAMA IQBAL OPEN UNIVERSITY ISLAMABAD(Department of Business Administration
)
Autumn2010
Mohsin Qayyum
M>BA/M.PARoll #
 
 
Q. 1 Distinguish business marketing from social marketing? Howmarketing strategies are differently formulated in these twoapproaches?
BUSINESS MARKETING
is the practice of individuals, or organizations, including commercial businesses, governments and institutions, facilitating the sale of their products or services to other companies or organizations that in turn resell them, use them as components in products or services theyoffer, or use them to support their operations. Also known asindustrial marketing, business marketing isalso called business-to-business marketing, or B2B marketing, for short.There are three basic things to know in order to effectively grow and expand business.1.Grow Business Organically2.Importance of Defining Target
3.
Know the Difference Between Marketing a Small Business vs. a Large Corporation.The essence of marketing is to understand customers’ needs and develop a plan that surrounds thoseneeds.You can increase organic growth in four different ways. They include:
Acquiring more customers
Persuading each customer to buy more products
Persuading each customer to buy more expensive products or up selling each customer 
Persuading each customer to buy more profitable productsAll four of these increase revenue and profit.
How can you use marketing to acquire more customers?
Spend time researching and create a strategic marketing plan.
Guide your product development to reach out to customers you aren't currently attracting.
Price your products and services competitively.
Develop your message and materials based on solution marketing.
SOCIAL MARKETING
can be defined as the design, implementation and control of programmerscalculated to influences the acceptability of social ideas and involving consideration of product planning, pricing, communication, distribution and marketing research. With the rapid growing marketing business,technology is playing a more important role in the demands of analyzing and utilizing the large scaleinformation gathered from customers. To predict the consequent business strategy by using technology, itis required to evaluate the customer performance, discover the trends or patterns in customer behavior. For this purpose the in modern world using the technology at a maximum level by e-commerce, internetmarketing and services etc. Even though in several developing countries,
2
 
SOCIAL MARKETING VS. BUSINESS MARKETINGBusiness marketing
is meant to sell a company to investors or financial backers, or key management personnel. Business plans are used to raise investment and loan funds and are typically for outside use(accountants, investors, IRS, bankers, and board members). Business
marketing
is typically broken downinto five sections (the Company, Markets, Products/Services, Finance and Employees) regardless of thestage of your business (just starting, in the growth stage, or mature business).
Social marketing
are the blue prints to business success. They are the tools for internal planning and implementing a detailedmethod to making profitable sales and growing the business.
NINE ELEMENTS OF A GOOD SOCIAL MARKETING
1.
2.
3.
4.
5.
6.
7.
8.
9.
Making Your Business Grow1. The Market Place
A.Overview of your company's approach to marketing and its historyB.Mission StatementC.Products and Services offered, and the unique selling benefit to the buyeD.List the standards in the industry, new marketing ideas, and any emotional component of the productor serviceE.Sales cycles and products/services needed; life cycles of productF.The personnel needed and job descriptions
2. Market Strategy
Who are your customers now, and who will your customers be in the future? Which customer is the best prospect? Do you sell to other businesses or organizations instead of directly to the public? In the MarketStrategy you must provide evidence that the end-user needs your solution. Consider the consumer demands and response to their emotional and logical needs.
Segmentation: divide potential market into categories, items shared in common, or segments of anindustry
Targeting: by geographic area, income, demographics, or specific unique characteristics of the potential customer 
Positioning: key reasons a customer will buy your product/service
3. Competitive Assessment
Competitor's assessment: who, where, product lines, prices, employees, strengths, weakness,market share, market strategy andPSE
Information from personal observations and electronic media (database information, newspaper or other archives)
Set up information tracking on each competitor including ads, promotions, new hires
Their sales cycles, product life and inventory projections
3

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