Southeast University

Southeast Business School

MBA Evening Program
Semester: Spring-2020
Marketing Management & Practices (MKT515)
Assignment

Submitted To:

Dr. Md. Tabarak Hossain Bhuiyan, IM&A

Managing Director & CEO, Prime Bank

Articling Lawyer and Member

Ontario Law Society and Canadian Bar Association

Submitted By:

Name: Mamunur Rashid

ID: 2019110004037

Section: 3

Batch: 33

Program: MBA (1year)

Last date of submission: 05/06/2020

 Answer to the question no: Task # 1

Write down the major forms of DM:

Direct Marketing:-

Direct marketing occurs when the “producer” connects with the end user. The end user may be a
consumer or a business.

Direct marketing applies to product and service-oriented businesses, and to nonprofit

organizations. In all situations, there is no intermediary involved. Direct marketing describes this
interactive communication with the end user.

Direct marketing is not synonymous with mass marketing. The most effective direct marketing
takes place when there is a clear connection to reach the target market.

Major Forms of Direct Marketing are given below:-

The most common forms of direct marketing are:

1. Internet marketing
2. Face-to-face selling
3. Direct mail
4. Catalogs
5. Telemarketing
6. Direct-response advertising
7. Kiosk marketing
8. New digital technologies

Let’s look at these in more detail:-

1. Internet Marketing

The Internet has revolutionized direct marketing for promoting the sale of products and services
to targeted audiences. Access to the Internet provides users with services in four basic areas:

 Information
 Entertainment
 Shopping
 Individual and group communication

The Internet makes direct marketing easier, more targeted, more flexible, more responsive, more
affordable, and potentially more profitable than ever. Virtually every business should seriously
consider the Internet as a part of their marketing mix and determine if it is a viable fit for their
direct marketing efforts.
 2. Face-to-Face Selling

The original and oldest form of direct marketing is the field sales call. Today most industrial
companies rely heavily on a professional sales force to locate prospects and develop them into
customers. Many consumer companies use direct-selling force, insurance agents, stock brokers
and distributors working for direct-sales organizations.

3. Direct Mail

Direct mail allows you to get information about your products and services directly into the
hands of people who may be interested in it. Though it's often dismissed as junk mail, it can be
highly effective in both business and consumer markets if it's properly planned and researched.

As well as a mailing letter, you typically include a range of enclosures such as a product
brochure, order-form and pre-paid reply envelope. Don't cut corners in preparing your materials -
the success of your mailshot depends on it.

The other key ingredient for a successful direct-mail campaign is a high-quality mailing list. The
most effective lists are those sourced in-house from a well-managed database - you already know
the preferences of the recipients of your mailshot and can tailor your offer accordingly.

4. Catalogs

Product catalogs are another version of direct mail where the catalogs are the communication
tool. The most common use of this approach involves featuring a variety of products that target
the needs of a specific audience who have shown a propensity to order from catalogs. An
increasing number of business-to-business marketers are sending catalogs on CD-ROM to
prospects and customers. The average U.S. household receives more than 50 catalogs each year,
ranging from general merchandise to specialty goods.

Examples of general merchandise catalogs are:

 Spiegel
 J.C. Penny

Examples of specialty goods catalogs are:

 Pottery Barn
 PC Connection
 5. Telemarketing

Telemarketing can offer a number of advantages over other forms of direct marketing. By talking
directly to your potential customers, you can immediately determine their interest in what you
are selling. It also allows you to ask questions to assess their needs for your product or service,
and effectively explain any technical areas.

However, there are some strict regulations that cover telemarketing. You will need to be aware
of these when deciding how to market your business.

6. Direct-Response Advertising

Direct-response advertising is communicating with potential buyers through television, radio,

magazines, and newspapers. The prospective consumer watches, hears, or reads about the
product or service and initiates a call to a toll-free number to place their order. Television, for
example, offers a wide range of exposure, from a 30-second commercial to a 60-minute
infomercial.

7. Kiosk Marketing

Kiosk is customer order placing machines located in stores, airports, railway stations and other
locations. Customer order contains the particulars of foods, phone number, credit card,
particulars and address where the goods can be delivered. Examples are:

 Eddie Bauer: Stores place computer terminals to order from the entire line of products not
available in the retail store.
 Florsheim Shoe Company

Your bank’s automatic teller machines (ATMs) placed in convenient and high traffic areas are
another example of kiosk marketing. A combination of these direct marketing techniques may
offer the optimal revenue generating solution.

8. New digital technologies

A wealth of new digital technologies, direct marketing can reach and interact with consumers
just about anywhere, at anytime, about almost anything. Here, we look into several exciting new
digital direct marketing, technologies: mobile phone marketing, podcasts and vodcasts, and
interactive TV (ITV).
 Answer to the question no: Task # 2
In view of the lessons learnt from the above text, how do you visualize the prospect of
online marketing in an emerging market in Bangladesh?

Online Marketing:-

Online marketing also referred to as E-Business, web marketing, Internet marketing, or e-

marketing, is the use of the Internet to advertise and sell products and services. Within the
definition of Online Marketing people will find mention of pay per click advertising, banner ads,
e-mail marketing, search engine marketing (including search engine optimization), blog
marketing, and article marketing. Each of these subject areas is important to consider prior to
planning suitable internet marketing strategy.

Analysis the E-Business in Bangladesh

Before going through for Internet marketing I need to analysis the E-Business as it is
interconnected with Internet marketing. In Bangladesh, E-Business tradition is poor due to lack
of information and implementation. People do not get the proper data and information from
government. Here are some important issues I have described:-

Future of E-Business

Competitive advantages determine whether a company can move forward. E-commerce is the
right tool for gaining competitive advantage nowadays. Business now goes online. Some restrict
the definition of e-commerce only to internet enabled transactions while some others defined
broadly saying not only internet rather telecommunication and telecommunication based tools
are also involved in ecommerce activities. In Bangladesh perspective, the broader definition is
accepted to all.

Like traditional commerce, e-commerce does not involved only in buying and selling of goods
and services rather includes inter-company and intra-company functions like negotiations and
transactions, manufacturing and marketing etc. using email, Electronic Data Interchange (EDI),
fax, file transfer, video conferencing etc. Depending on the involvement with electronic means, a
company can be either a complete or partial e-commerce user. Usually e-commerce is done in
four forms: Business to Business (B2B), Business to Consumer (B2C), Consumer to Business
(C2B) and Consumer to consumer (C2C). However, Business to Government (B2G) transaction
may also exist.
Present situation in Bangladesh

The above report shows that in 2018, total internet user is 81.7 million and social media users are
30.5 million which 18% of total population is. Now, in 2019 the number internet users increased
to 90.5 million, according to statistics published on bangladesh Telecommunication Regulatory
Commission (BTRC)’s website.

In order to cope with the present world, almost all of the financial organisations and international
businesses in Bangladesh enter in the information highway through hosting website. Banks and
other financial organizations have started online transactions like fund transfer, payment etc.

Human resource is must for the development of e-commerce and in Bangladesh, around 10000
people are being produced by the educational institutions and training centres around the
country, which is not adequate for a country.

Since Bangladesh is a developing nation, the opportunity for the development of local and
international trade and business, like all other LDCs, is increasing. Although it faces some
barriers like infrastructural, cultural and outlook problem, recent steps taken by the government
may change the situation. The government has taken some steps to build ICT capable society
recently to materialize its dream of a 'digital Bangladesh'.

E-Commerce
The number of Internet users is not adequate to create potential profit earning e-business; there is
lack of infrastructural facilities including electricity and transportation system; high and unstable
prices of computer and hardware is discouraging, there is lack of skilled manpower and
personnel required for effective e-business; there is absence of cyber law and lack of
governmental legislation and awareness.

It should be understood that only Internet connection is not adequate for the development of e-
commerce. Internet is nothing but a component of the environment. The environment should be
developed wholly. Various researches find out that people in Bangladesh are friendly to technical
innovation. In order to improve the standard of life the people here can adopt the e-commerce
system easily.
Choice the Customers

We have to think about the customers and it can be devided the customer into some categories
like:
a. Regular customer or users
b. Possible customers
c. Qurious customers

Customer Analysis

The Customer Analysis section of the business plan assesses the customer segments that the
company serves. In it, the company must
1. Identify its target customers
2. Convey the needs of these customers
3. Show how its products and services satisfy these needs

The first step of the Customer Analysis is to define exactly which customers the company is
serving. This requires specificity. It is not adequate to say the company is targeting small
businesses, for example, because there are several million of these types of customers. Rather,
an expert business plan writer must identify precisely the customers it is serving, such as small
businesses with 10 to 50 employees based in large metropolitan cities on the West Coast.

Once the plan has clearly identified and defined the company's target customers, it is necessary
to explain the demographics of these customers. Questions to be answered include:
1. How many potential customers fit the given definition and is this customer base growing or
decreasing?
2. What is the average revenues/income of these customers?
3. Where are these customers geographically based?

The business plan must also detail the drivers of customer decision-making. Sample questions to
answer include:
1. Do customers find price to be more important than the quality of the product or service?
2. Are customers looking for the highest level of reliability, or will they have their own support
and just seek a basic level of service?

There is one last critical step in the Customer Analysis -- showing an understanding of the actual
decision-making process. Examples of questions to be answered here include:
1. Will the customer consult others in their organization/family before making a decision?
2. Will the customer seek multiple bids?
3. Will the product/service require significant operational changes (e.g., will the customer have
to invest time to learn new technologies and will the product/service cause other members within
the organization to lose their jobs etc.)

It is essential to truly understand customers to develop a successful business and marketing

strategy. As such, sophisticated investors require comprehensive profiles of a company's target
customers. By spending the time to research and analyze my target customers, you will develop
both enhance my business strategy and funding success.

Social Media Marketing-Mind our Manners

We must mind our manners in order for our efforts in social marketing to be successful. Social
media marketing is about interaction, interaction creates relationships and those relationships
open up the opportunity for us to share information about our products and services. Good
manners is essential when it comes to interacting with others using social media networks as a
marketing tool. (Fernando Angelo, 2007)

Online Video and the Impact It Can Have on our Marketing

Video is making an impact when it comes to our marketing. If we haven't already, it’s time to
consider using video to market our business. It doesn’t matter what size business we have, video
is an affordable and effective tool that can help us connect with customers and prospects.

Marketing Online-Men and Women Use the Internet Differently

We know that when it comes to the way men and women shop; it's different. Men waltz into a
store to gather what they came for while women will take the time to browse and explore the
new products that have been introduced in the isles. The same is true when it comes to the online
behavior of men and women; gender stereotypes apply. Take a few moments to learn how both
men and women use the internet and how that information can help you in positioning your
product or service.

Explore the Benefits of Marketing Online

Marketing online offers many benefits that we don’t find in traditional marketing and many
companies are embracing those benefits during these tough economic times.
Analysis includes the following areas:

1. Sales

 purchases percentage increasing

 increasing of products amount in one order
 increasing of an average bill of one purchase

2. Marketing

 decreasing of marketing expenses for each purchase

 brand awareness increasing
 growth of conversion rate – turning visitors into buyers
 increasing of repeated purchases amount
 increasing of registrations amount
 increasing of references amount in the network

3. Call-Center

 increasing of handled calls amount

 growth of conversion rate – turning calls into sales
 consultancy time reduction
 reduction of calls not related to order placing (guarantee, uptime, etc.)

4. Web Development

 higher pages download speed

 reduction of downtime of a site
 reduction of unavailable pages amount(the 404-th and other)

I would thus imagine the possibility of online marketing in the Bangladesh.