Name : Atif Mohi ud din Roll No CA476092

Father Name : Nazir Ahmad

Mobile No : 0307 7577735
Address : Basti khudimabad Sadar Dewan Road Near Best college kasur.

ALLAMA IQBAL OPEN UNIVERSITY

(Department Of Business Administration)

FINAL PAPER
Course: PRICIPAL OF MARKETING (8407)
Semester: Autumn 2020
LEVEL: BBA 4 YEARS

Q.1 Differentiate between the concept of marketing and

advertising. What do you understand the organizations’
environment? Briefly explain five different environments in which
marketing operates.

ANSWER:
It may appear that advertising and marketing are two concepts with
the same goal in mind. In truth, they both serve the same purpose: to alert
consumers to the sale of goods and services. There are numerous similarities
between marketing and advertising, but there are also some variances.
Understanding the contrasts and similarities will aid any business or
organization in developing a customer and audience acquisition plan.

MARKETING:
Marketing is a business strategy that involves identifying,
predicting, and addressing client needs. Effective marketing strategies help
businesses figure out how to best serve their customers while simultaneously
boosting income. In business-to-consumer marketing, marketing activities are
directed toward consumers. In business-to-business marketing, marketing
activities are focused on other businesses. Design, creation, research, and
data mining are all used in marketing to align the idea of a product or service
with the target demographic. Marketing assists in the defining of the product
even more than the real items.

Marketing necessitates investigation and analysis. This

entails analysing audience reaction and developing language and design that
will have the most impact on that audience. Certain customer groups are
more receptive to pictures and words than others. Slogans and mission
statements that effectively express the product's "message" are crucial in
marketing. Product, place, price, and promotion are the four Ps that make up
a marketing plan.
A marketing campaign's message communicates who can
use the product, what kind of setting is appropriate for it, and other relevant
facts. The message is conveyed through marketing materials, which also
establish the product's tone and personality. Pricing and distribution methods
are another component of market research.

ADVERTISING:

Advertising is a form of marketing in which a corporation

pays to have its messaging or branding shown in a specific location.
Businesses use advertising to market and sell their products and services, as
well as to build corporate culture and branding. Advertising, when used
correctly and effectively, can increase client acquisition and revenue.
Advertising is the process of bringing a product or service to the attention of a
target audience. It's the wording used to describe a product, idea, or service
to the rest of the world. This typically comprises media advertising initiatives.
Advertising must be done at the right time and in a planned manner.

Advertising is used to promote awareness of a product or service. This entails

developing a campaign that is tailored to the wants and needs of the target
audience. To effectively develop excitement for a product, a great advertising
campaign employs a variety of mediums. If the product is aimed at a younger
demographic.

For example, social media channels such as Facebook, Instagram, and

Twitter may be the greatest approach to contact them. Other customer
groups may respond better to advertisements on the radio, television, or in
print. Most advertising efforts employ a mix of media to reach the broadest
potential audience.

ORGANIZATION ENVIORMENT:

Internal variables (workers, consumers,

shareholders, retailers & distributors, etc.) and external variables (political,
legal, social, technological, and economic) that surround the business and
influence its marketing operations make up the Marketing Environment. Some
of these elements are within our control, while others are beyond our control
and necessitate changes in corporate operations. Firms must be aware of
their marketing environment to mitigate the detrimental influence that
environmental elements have on their marketing.

• The internal environment is unique to each organization and includes

owners, employees, machines, and materials, among other things.

• The external environment is split into two categories: micro and macro.

• The micro or task environment is similarly business-specific, but it is

external. It is made up of individuals who are involved in the creation,
distribution, and promotion of the offering.

• Larger sociocultural forces that impact society are included in the macro
or wide environment. It consists of six elements: the demographic,
economic, physical, technological, political-legal, and social-cultural
environments.

ENVIROMENT IN WHICH MARKET OPERATES:

MACRO ENVIROMENT

The broad environment refers to the macro component of the

marketing environment. It is made up of external forces and variables that
affect the industry but have no direct impact on the firm. There are six parts to
the macro-environment.
 DEMOGRAPHIC ENVIROMENT

The market's demographic environment is made up of the people who make it

up. It is defined as the scientific research and classification of people based
on their size, density, location, age, gender, race, and employment.

ECONOMIC ENVIROMENT

Customers' purchasing power and spending patterns are influenced by

factors in the economic environment. GDP, GNP, interest rates, inflation,
income distribution, government financing and subsidies, and other significant
economic indicators are among these elements.

PHYSICAL ENVIROMENT

The natural environment in which the firm operates is included in the physical
environment. Climate change, environmental change, access to water and
raw materials, natural disasters, pollution, and so on are all factors to
consider.

TECNOLOGICAL ENVIROMENT

Innovation, technical research and development, technological alternatives,

innovation inducements, and technological hurdles to smooth operation make
up the technological environment. Technology is one of the most significant
sources of dangers and possibilities for an organization, and it is also one of
the most dynamic.

Q.2 How marketing information system helps organizations to compete

in the contemporary scenario? Support your answer with suitable
example. Discuss the objectives of market segmentation and explain
all five-segmentation approached to achieve marketing objectives.

ANSWER:
A marketing information system is a management information
system that is designed to aid marketing decisions. According to Jobber, it is
a "system in which marketing data is formally obtained, kept, analyzed, and
given to managers on a regular basis in accordance with their informational
demands." In addition, the Marketing Information System is defined as "a
system that analyses and analyses marketing information, received
continuously from sources inside and outside a company or a store" by the
online business dictionary. “An overall Marketing Information System can be
defined as a predefined structure of procedures and processes for the
regular, planned to gather, analysis, and dissemination of marketing data,"
says the author.

Developing a MIS system is becoming increasingly vital as economies

increasingly rely on services and as businesses seek to better understand
their consumers' individual needs. "People, equipment, and methods for
gathering, sorting, analyzing, evaluating, and disseminating needed, timely,
and accurate data to marketing decision makers."

In a service-based economy, marketing is critical to "watch the marketing

environment for changes in buyer behavior, technology, economic situations,
and government policies." In this view, marketing is becoming increasingly
important for an organization's ability to "respond to changes in the market
environment." MKIS systems are required to identify and differentiate the
value proposition that one company provides in comparison to another, as
well as to define their competitive advantage, because an economy is based
on the acquisition of knowledge.

The key advantage of MKIS systems is that they

combine market-monitoring systems with strategy formulation and the
strategic execution of policies and processes that aid in the capture and
action of customer management applications with marketing decision support
systems. This field includes marketing intelligence that aids in the analysis
and market-based activities that support customer relations and service
through real-time data and real-time apps that support market-based
methods.

1.It can deal with both internal and external data.

2. It is concerned with both avoiding and resolving issues.

3.It functions as a system indefinitely.

4.It has a proclivity for looking ahead.

5.In addition to marketing research, it covers other subsystems.

Marketing as a business function is more concerned with

product planning, promotion, and sale in existing markets, as well as the
development of new products and markets. As a result, marketing plays a
critical role in the operation of a corporation. Businesses that embraced
computers were able to effectively fulfil critical marketing functions for their
businesses' growth in the face of global competition.

EXAMPLES:

1. It compiles a database of information about certain clients.

2. It analyses buying and enquiry trends using that information, allowing it

to target goods and services more precisely.

3. It can be used to emphasize the advantages of brand loyalty to

customers who are at risk of being overtaken by competitors.

4. It can boost sales by identifying clients who are most likely to purchase
new products and services.

5. It has the potential to improve sales effectiveness.

6. It can help to support low-cost alternatives to traditional sales

approaches, which can be crucial in areas where margins are eroding.
Q.3 Some industrial suppliers make above-average profits by offering
service, selection, and reliability at a premium price. How might these
suppliers segment the market to locate customers who are willing to
pay more for these benefits? Cite examples of organizations that use
each targeting strategy, i.e., undifferentiated, differentiated, and
concentrated. Discuss why they have chosen this strategy.

ANSWER:

Micromarketing is a type of targeting that is even more specific than

niche marketing. Individuals' needs (individual marketing) or extremely small
sectors of a specified territory (local marketing) are catered to.
Micromarketing can be extremely effective because it provides customers
with exactly what they want, when they want it. However, to be successful on
a wide scale using this method, businesses must figure out how to address
highly customized demands efficiently and profitably.

"Mass customization" or "one-to-one marketing" are terms used to

describe individual marketing. With this strategy, businesses may provide
customers with a product that is tailored to their exact needs. Build-A-Bear
Workshop, for example, allows youngsters to design their own teddy
creatures. A child can choose from a variety of animals, ranging from teddy
bears to unicorns, as well as the color, size, attire, and other accessories.
Buyers may request modifications on the personally crafted jeweler, clothing,
toys, and other items exhibited on the Web site, and creators of handmade
goods accept orders from them. In the video below, the CEO discusses what
distinguishes the company's approach.

NICHE MARKETING:

Niche marketing (also known as concentrated

marketing) is a marketing approach that focuses on only one or a few
narrowly defined and sectors of the population. The goal is to achieve high
penetration among the target segments that have been tightly specified.
Rolex, for example, has opted to focus solely on the luxury section of the
watch industry.
A company that uses a niche strategy derives an edge by
concentrating all its efforts on only one or a few segments. All their market
research, product development, marketing strategy, and tactics are focused
on one specific market segment. When done properly, this method can give a
company a competitive advantage over competitors who do not focus all their
efforts on the "niche" markets. Niche targeting is especially useful for small
businesses with limited resources because it eliminates the need for mass
production, distribution, or promotion. It can be tremendously profitable for a
corporation to be highly successful in coveted market sectors.