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Running Head: MARKETING ASSIGNMENT 1

Marketing Assignment
Arjun Pandithan
251515
MARKETING ASSIGNMENT 2
Marketing Assignment
Introduction
Marketing
Marketing is re!"gni#ed as the heart "$ an "rgani#ati"n% It he&'s in !"mmuni!ating the
(ene$its "$ !"m'an)*s "$$ering m"re e$$e!ti+e&) ,ith e-isting and '"tentia& !&ients% The !enter
!a'a!it) "$ sh",!asing is t" e-'and the &e+e& "$ attenti+eness t" !&ients in the (usiness se!t"r
,ith res'e!t t" the !"m'an)*s item% This e+entua&&) he&'s in huge im'r"+ement "$ (argains and
$"!used 're$eren!e "+er !"ntenders inside the (usiness% M"re"+er. marketing he&'s an
"rgani#ati"n t" !"nstru!t "rgani#ati"n/s n"t"riet) and (rand/s g""d,i&&% The im'r"+ement "$
(rand esta(&ishment (ai&s an "rgani#ati"n t" emerge s"&id&) in the !"m'etiti+e industr)% This
e+entua&&) he&'s in the de+e&"'ment and ad+an!ement "$ the "rgani#ati"n and its item "$$ering%
Marketing aides in (rand re!"gniti"n. as ,e&& as aides in (ui&ding trust (et,een the "rgani#ati"n
and its !&ients% The '"int ,hen !&ients (e&ie+e an "rgani#ati"n. the) are e-!ited t" kn", a("ut the
a!hie+ement "$ the "rgani#ati"n and its "$$erings% The) ha+e a tenden!) t" ha(itua&&) s'eak ,ith
the "rgani#ati"n t" gi+e it their n"ti"ns and 'ers'e!ti+es0Krasnik"+ 1 2a)a!handran. 23345% %
Thus. it ,"u&d (e sa$e t" state that marketing 'r"!ess is a 'r"!ess that he&' !"m'anies in
market their 'r"du!ts and ser+i!es% It is the 'r"!ess that starts $r"m the identi$i!ati"n "$
!ust"mer*s desire and ,ant s and then ends at de&i+ering th"se ,ants and demands m"re
e$$i!ient&) as !"m'ared t" 'eers% Marketing 'r"!ess !"nsist "$ an integrated 'r"!edures that '&a)
MARKETING ASSIGNMENT
their su(stantia& r"&e in the "+era&& de+e&"'ment "$ a (usiness% Marketing 'r"!ess is a ,ide t"'i!
,here as $"&&",ing are the m"st im'"rtant e&ements "$ the marketing 'r"!ess%
Discussion
Marketing as a Business Philosophy
6e$"re 'ursuing marketing as (usiness 'hi&"s"'h) it is im'erati+e t" de!i'her the
n"men!&ature ,hi!h gi+es (irth t" marketing as (usiness 'hi&"s"'h)% Marketing 'r"!ess starts
$r"m the '"int "$ identi$i!ati"n "r situati"n ana&)sis% 7"r situati"n ana&)sis ,e mean t" identi$)
the needs. ,ants and re8uirements "$ the under&)ing situati"n "r 'r"(&em% In situati"n ana&)sis.
marketers !"ndu!t mi!r" and ma!r" $a!t"r e+a&uati"n t" identi$) ,hat are the $a!t"rs that '&a)
!ru!ia& r"&e in the de&i+eran!e "$ re8uired "$$erings% In additi"n. S9:T 0strength. ,eakness.
"''"rtunit) threats5 and PESTE; 0P"&iti!a&. En+ir"nmenta&. S"!ia&. Te!hni!a&. and E!"&"gi!a&.
&ega&5 ana&)sis a&s" assist !"m'anies in identi$)ing the under&)ing situati"n m"re !&ear&)%
Situati"n ana&)sis "$$ers a detai&ed r"ad ma' t" ,hi!h the (usiness needs t" $"&&",% It is
!"mm"n&) stated that ha&$ "$ the s"&uti"n de'end "n identi$)ing the 'r"(&em !"rre!t&)0Pa&matier
et a&. 233<5% % There$"re. e$$e!ti+eness "$ entire marketing 'r"!ess de'ends u'"n the 'r"'er
situati"n ana&)sis%
Marketing strateg) !"mes a$ter the identi$)ing and e-aminati"n "$ the under&)ing
situati"n% Marketing strateg) in sim'&e ,"rds is a '&an t" "$$er the desired g""ds and ser+i!es t"
the !ust"mers that has (een identi$ied ,ith the he&' "$ situati"n ana&)sis% Marketing strateg) is
!ra$ted ,ith a!!"rdan!e t" the (r"ad missi"n and "(je!ti+e "$ the "rgani#ati"n% H",e+er.
!"m'an) usua&&) desiring di$$erent strategies $"r their sh"rt term and &"ng term g"a&s% Marketing
MARKETING ASSIGNMENT =
mi- is "$ten kn",n as ='*s "$ marketing% Marketing mi- des!ri(es ,hat an "rgani#ati"n is g"ing
t" "$$er. ,here it ,i&& "$$er. h", the 'r"du!t ,i&& (e "$$ered and at ,hat 'ri!e% It is an integrati"n
"$ $"ur e&ements "$ marketing> 'ri!e. '&a!e 'r"m"ti"n and 'ri!e% Su!!ess "$ a 'r"du!t "r ser+i!e
high&) de'ends "n de!isi"ns re&ated t" the marketing mi- "$ the !"m'an)% Marketing mi- '&a)s a
signi$i!ant r"&e in the marketing 'r"!ess% A&& "$ de$ined e&ements "$ marketing mi- re8uire
'r"'er and re&e+ant attenti"n t" market a 'r"du!t su!!ess$u&&)
?e+e&"'ing a '&an is "ne side "$ '&an ,hereas its im'&ementati"n and e-e!uti"n is
an"ther and im'"rtant side "$ the entire marketing 'r"!ess% Im'&ementati"n "$ marketing mi-
and marketing strategies is !ru!ia& $"r the entire "rgani#ati"n% Im'&ementati"n a!!"rding t" the
'&an is n"t an eas) task and re8uires s'e!ia& attenti"n $r"m the managers% In additi"n t"
im'&ementati"n. !"ntr"& a&s" is im'"rtant $"r the su!!ess "$ the marketing '&an% 7"r !"ntr"& ,e
mean e-amining and assessing the resu&ts "r "ut!"mes "$ im'&ementing the "ut&ined marketing
'&an "r 'r"!ess06rassingt"n 1 Pettitt. 23355% %
M"re"+er. marketing as a (usiness 'hi&"s"'h) tends t" di+ide itse&$ int" mu&ti'&e $a!ets%
Th"se $a!ets are gi+en as under:
MARKETING ASSIGNMENT 5
Thus. "rgani#ati"ns must se&e!t their target !ust"mers (e$"re 'ursuing marketing as
(usiness 'hi&"s"'h)% In !ase "$ G"&d !&ass !inema*s the target market !an in$use the !ust"mers
,h" tends t" $a&& in the age gr"u' "$ 25@3% Target audien!e renders the market ,hi!h is
identi$ied as the m"st &u!rati+e "r ,h" ,i&& m"st &ike&) t" (u) the 'r"du!ts (eing "$$ered% In !ase
"$ G"&d A&ass !inema*s. sin!e this age gr"u' tends t" (e $inan!ia&&) inde'endent and are mature
en"ugh t" digest the m"+ies as a $"rm "$ rea&it)% ?etermining needs and ,ants is the ne-t ste' in
this regard% G"&d A&ass !inema*s $"r e-am'&e !an enter int" a sur+e) in "rder t" gauge the needs
and ,ants "$ its target audien!e% 7"r e-am'&e. i$ the '"'u&ati"n ,ants t" see m"re a!ti"n m"+ies.
thus the !inema is ("und t" a!t as 'er it in "rder t" sta) in the (usiness% Aust"mer satis$a!ti"n is
a +er) im'"rtant n"ti"n in the !"nte-t "$ marketing. as it di!tates ,hether the !ust"mer ,i&&
return (a!k int" the $&", "$ the (usinesses "r n"t% G"&d A&ass !inema*s $"r that matter "$ $a!t !an
intr"du!e ne, s!reens. high 8ua&it) s"und and !"m$"rta(&e seats% These e&ements ,hen
!"m(ined !an )ie&d !ust"mer satis$a!ti"n% As identi$ied a("+e that i$ G"&d A&ass !inema*s $ai& t"
MARKETING ASSIGNMENT <
indu!t m"+ies ,hi!h are in &ine ,ith the interests "$ its target audien!e. s""ner rather than &ater
the !inema ,i&& (e "ut "$ its (usiness%
Customer Value and Marketing
Re!ent 'hi&"s"'h) in (usiness management and marketing is aiming n"t "n&) t"
understand and kn", the +a&ue "$ the !ust"mer 0Aust"mer Ba&ue. AB5. in "rder t" maintain
&"ng@term re&ati"nshi's. h",e+er. as the ,"r&d gr",s t" t"u!h ne, heights the n"ti"n "$
!ust"mer +a&ue tends t" $"!us "n "'timi#ing ea!h "$ the as'e!ts that in!rease the &i$e time +a&ue%
Aust"mer 0Aust"mer ;i$etime Ba&ue. A;B5 management (asing "n the !"n!e't "$ !ust"mer as
an asset 0Aust"mer Asset. AA5 0B"rhies 1 M"rgan. 23355%%
This "rientati"n "$ (usiness +a&ue t" !ust"mers and $inan!ia& assets. ,hi!h the !"m'an)
sh"u&d measure. manage and ma-imi#e its +a&ue. &ike "ther strategi! assets "$ the "rgani#ati"n%
Cnder this 'ers'e!ti+e. it is !"nsidered that the +a&ue "$ the !"m'an) in the &"ng run is
determined m"st&) () the +a&ue "$ its entire '"rt$"&i" "$ e-isting and '"tentia& !ust"mers. ,h"se
name is Ang&" Aust"mer E8uit) 0AE5% There$"re. the essen!e "$ management is t" ma-imi#e
!ust"mer +a&ue in the &"ng run the EA. s" that res"ur!es must (e !are$u&&) a&&"!ated t" !ust"mers
m"re +a&ue $"r the !"m'an). sin!e the) are the "nes that dri+e (usiness su!!ess%
A!!"rding t" K"t&er and Armstr"ng. D!reating +a&ue and satis$a!ti"n $"r !ust"mers are the heart
"$ the 'hi&"s"'h) and 'ra!ti!e "$ m"dern marketingD% The +a&ue is dire!t&) re&ated t" the t"ta&
'ri!e )"u ha+e t" 'a) the !ust"mer t" 'ur!hase a 'r"du!t "r ser+i!e and the range "$ (ene$its that
)"u ,i&& get t" use it% 7"r e-am'&e. an e-e!uti+e ,i&& (e ,i&&ing t" 'a) a higher 'ri!e $"r a m"+ie
'remier (e!ause it understands that (esides ha+ing a $irst s!reening "$ the m"+ie it ,i&& add "n t"
MARKETING ASSIGNMENT E
his "r her status s)m("&% In turn. satis$a!ti"n is re&ated t" the 'er$"rman!e 'er!ei+ed ()
!ust"mers a("ut the 'r"du!t )"u 'ur!hased and the e-'e!tati"ns I had (e$"re 'ur!hase0Trus"+.
et a&. 233F5% % 7"r e-am'&e. i$ the !ust"mer 'er!ei+es that the 'r"du!t 'ur!hased d"es ,hat I
e-'e!ted 0a!!"rding t" their e-'e!tati"ns5 then )"u are !"nsidered a satis$ied !ust"mer i$ the
'r"du!t (e!"mes &ess than e-'e!ted is !"nsidered a dissatis$ied !ust"mer and i$ )"u make m"re
than ,aiting is !"nsidered a '&eased !ust"mer%
T" !"m'&ement the a("+e t," e&ements 0+a&ue and satis$a!ti"n5 the gain "r 'r"$it e&ement
,as added> ie the entire marketing e$$"rt t" !reate +a&ue and satis$a!ti"n. has t" (e 'aid "$$ in
s"me ,a) t" the !"m'an) "r "rgani#ati"n that 'ra!ti!es it% This gain "r 'r"$it !an mani$est in
di$$erent ,a)s. $"r e-am'&e. a !"m'an) ,i&& (e a !ertain net 'r"$it margin $"r a n"n'r"$it
"rgani#ati"n ,i&& (e raising an D-D am"unt "$ d"nati"ns t" a '"&iti!a& 'art) is a gi+en num(er "$
+"tes. et! % In sh"rt. the 'hi&"s"'h) that dri+es m"dern marketing. is Dt" ha+e a $u&& !ust"mer
"rientati"n assuming the !"mmitment t" de&i+er +a&ue and satis$a!ti"n in e-!hange $"r a 'r"$it "r
(ene$it t" the !"m'an) "r "rgani#ati"nG%
There$"re M"+ing $urther Managing !ust"mer +a&ue. ma) (e !a&&ed DAust"mer Ba&ue
Management. ABMD !an (e regarded as the ne, 'aradigm "$ ARM as their a''r"a!h n"t "n&)
$"!uses "n esta(&ishing. strengthening and de+e&"' &"ng@term re&ati"nshi's ,ith !ust"mers. (ut
rather. its $"!us is rea!hing a '"int ,here entre'reneuria& a(i&it) attem'ts t" "'timi#e ea!h as'e!t
"$ in!reased !ust"mer +a&ue t" u&timate&) ma-imi#e the 'r"$ita(i&it) "$ the '"rt$"&i" "$ !urrent
and '"tentia& !ust"mers0Heitham&. 6itner 1 Grem&er. 233<5% % In the ana&)sis in this stud)
!"n!&uded that the management "$ !ust"mer +a&ue sh"u&d take int" has $"r its 'ur'"se the ste's
"$ !ust"mer insight. +a&ue ana&)sis "$ the !urrent and '"tentia& !ust"mer and e+a&uati"n "$ the
e-!hange +a&ue% Thus g"&d !an !&ass $"!us "n +a&ue !reati"n in "rder t" retain its !"nsumers and
MARKETING ASSIGNMENT 4
t" attra!t m"re !"nsumers int" its $"&d% M"re"+er. G"&d !&ass !inema*s !an $"!us "n ne,
te!hn"&"gies in "rder t" in$use m"re !ust"mers int" its $"&d% 7"r e-am'&e. the in$usi"n "$ ?
te!hn"&"g) and "ther te!hn"&"gi!a& ad+an!ements !an !reate +a&ue $"r the !"nsumers% Thus. it
,"u&d a&s" gi+e an edge t" the G"&d A&ass !inema*s t" stand ta&& as !"m'ared t" its !"m'etit"rs
as $ar as marketing is !"n!erned%
Conclusion
Marketing. in a genera& sense. has t," (asi! as'e!ts: :ne ,h" m"+es in a !ertain
dire!ti"n 0'hi&"s"'h)5 and the "ther that 'uts ne!essar) t" g" in that dire!ti"n 0$un!ti"n5 tasks%
6"th as'e!ts are essentia& t" attra!t ne, !ust"mers and retain e-isting "nes> s" and in sh"rt ,e
!an sa) that the 'hi&"s"'h) and $un!ti"n "$ marketing is DHa+ing a $u&& !&ient "rientati"n
assuming the !"mmitment t" de&i+er +a&ue and satis$a!ti"n in e-!hange $"r a 'r"$it "r (ene$it t"
the !"m'an) "r "rgani#ati"n% This . () 'er$"rming s'e!i$i! tasks su!h as ana&)sis. '&anning.
im'&ementati"n and !"ntr"& D%
MARKETING ASSIGNMENT F
Re$eren!es
A&ders"n. 9% 0233<5% Marketing e$$i!ien!) and the 'rin!i'&e "$ '"st'"nement% In A T,ent)@7irst
Aentur) Guide t" A&ders"nian Marketing Th"ught 0''% 13F@115% S'ringer CS%
6rassingt"n. 7%. 1 Pettitt. S% 023355% Prin!i'&es "$ marketing% 7T Prenti!e Ha&&%
K"t&er. P% 023115% Rein+enting marketing t" manage the en+ir"nmenta& im'erati+e% 2"urna& "$
Marketing. E50=5. 12@15%
Krasnik"+. A%. 1 2a)a!handran. S% 023345% The re&ati+e im'a!t "$ marketing. resear!h@and@
de+e&"'ment. and "'erati"ns !a'a(i&ities "n $irm 'er$"rman!e% 2"urna& "$ Marketing.
E20=5. 1@11%
;esk"+e!. 2%. Adami!. ;% A%. 1 Hu(erman. 6% A% 0233E5% The d)nami!s "$ +ira& marketing% AAM
Transa!ti"ns "n the 9e( 0T9E65. 1015. 5%
Pa&matier. R% 9%. ?ant. R% P%. Gre,a&. ?%. 1 E+ans. K% R% 0233<5% 7a!t"rs in$&uen!ing the
e$$e!ti+eness "$ re&ati"nshi' marketing: a meta@ana&)sis% 2"urna& "$ marketing. E30=5.
1<@15%
Srini+asan. S%. 1 Hanssens. ?% M% 0233F5% Marketing and $irm +a&ue: metri!s. meth"ds. $indings.
and $uture dire!ti"ns% 2"urna& "$ Marketing Resear!h. =<05. 2F@12%
The Ahartered Institute "$ Marketing 0AIM5% 0233F5% Marketing and the EPs: A (rie$ summar) "$
the marketing and h", it ,"rks% The Ahartered Institute "$ Marketing% ?ata retrie+ed
$r"m: htt':II,,,%!im%!"%ukI$i&esIE's%'d$. "n 2
rd
2anuar). 231=
Trus"+. M%. 6u!k&in. R% E%. 1 Pau,e&s. K% 0233F5% E$$e!ts "$ ,"rd@"$@m"uth +ersus traditi"na&
marketing: $indings $r"m an internet s"!ia& net,"rking site% 2"urna& "$ marketing. E055.
F3@132%
MARKETING ASSIGNMENT 13
B"rhies. ?% 9%. 1 M"rgan. N% A% 023355% 6en!hmarking marketing !a'a(i&ities $"r sustaina(&e
!"m'etiti+e ad+antage% 2"urna& "$ Marketing. <F015. 43@F=%
Heitham&. B% A%. 6itner. M% 2%. 1 Grem&er. ?% ?% 0233<5% Ser+i!es marketing: Integrating
!ust"mer $"!us a!r"ss the $irm%