SOUTHEAST UNIVERSITY

School of Business Studies

ASSIGNMENT

ON
MID Assessment
Semester: Spring: 2021
Course Code: 515.3
Course Title: Marketing Management

Submitted to:
Iftekhar Shahab Uddin
Lecturer
Southeast Business School

Submitted By:
Md.Saddam Hossain
ID: 2021010004031

Date of Submission: 29 April 2021

 Answer to the questionno:3

What are different types of needs in marketing? Briefly explain it with suitable examples?
Needs are basic or advanced urges or demands that lead us to take an appropriate action to fulfill
them. In terms of marketing if we consider, needs are the gaps which the companies try to fulfill
with their products and services.
The needs of human beings are best described by Maslow’s Hierarchy of Needs given below: -

The buying behavior of the consumer depends on his position in the hierarchy. The behavior
changes as he moves up in the hierarchy.
Example: -
If a consumer is able to fulfill his basic needs i.e. Physiological Needs he will then move one
step up and look for safety needs. Need, in terms of marketing can be divided into the following
five types:
1. Stated
2. Real
3. Unstated
4. Delight
5. Secret
For example a customer wants to buy a car. When consumer says he wants something, like an
expensive car, that is his stated need. When the consumer wants a car for rational, genuine need,
like he wants a car whose operating costs are low over a time, and not just a low initial price, this
is his real need. In buying this car, the consumer also expects a good service from the dealer.
This is the unstated need. When the consumer doesn’t explicitly express that he would want
something but would like to have it anyway, say for example he would like the car dealer to
include an onboard GPS navigation system too; this becomes a delight for him. Lastly, there is a
desire seldom shown, this may be a secondary benefit of obtaining the product, yet equally
important or might as well be the main reason, but not expressed so readily. For example, here
the consumer wants a car for the status symbol so that he can show his friends that he is a savvy
consumer. This is when he has a secret need to appear to fit in.
Answer to the question no: 4

Q-4: ‘Selling is the only tip of the iceberg’, explain this statement in context of marketing
theory with necessary argument/s

Selling is a small part of Marketing. It’s not synonym or replacement for marketing concept.
Marketing is much more than just selling. Hence, we can say selling is merely a tip of the iceberg
called Marketing.

Following are the major difference between Selling & Marketing. This will help us to support the
statement, “selling is the tip of the marketing iceberg”.

Selling is the exchange of goods for an agreed sum of money, but marketing is something more
than just selling. Selling is trying or pursuing someone to sell something at a certain price.
According to “Marketing is too often confused with selling. Selling is only the tip of the
marketing iceberg. What is unseen is the extensive market investigation, the research and
development of appropriate products, the challenge of pricing them right, of opening up
distribution, and of letting the market know about the product.  Thus, Marketing is a far more
comprehensive process than selling.”

Selling Includes Tactics And Profit Only:

Mostly, selling focus on tactics and profit only. This is shortsightedness and after some time
businesses may collapse. It lacks integration, inclusiveness and vision.
Selling tries to sell a product already produced by the company at any cost but with profit.
In the long run, selling is not a good strategy for any business. Marketer or manufacturer tries to
sell products forcefully. Hence the team selling products called sales force)

Marketing has many functions and selling is one of those many functions. Selling is a very small
part or function of Marketing and it cannot replace the term marketing entirely.
 Answer to the question no: 5

What is Value Chain? How it can be Competitive Advantage for source of any Company? Explain
it.

Value Chain: The value chain is a tool for identifying ways to create more customer value
because every firm is a synthesis of primary and support activities performed to design,
produce, market, deliver, and support its product.

Completing a value chain analysis allows businesses to examine their activities and find
competitive opportunities. For example, McDonald's mission is to provide customers with low-
priced food items.

Competitive Advantage:

A competitive advantage is an attribute that enables a company to outperform its competitors.

This allows a company to achieve superior margins compared to its competition and
generates value for the company and its shareholders.

A competitive advantage must be difficult, if not impossible, to duplicate. If it is easily copied or

imitated, it is not considered a competitive advantage.

Answer to the question no: 6

Briefly explain how experiences, persons, information & ideas can be marketed?

It is important to note that "product" is used in marketing in its broadest sense and may combine
the following categories:

Experiences:
By orchestrating several services and goods, a firm creates, stage and market experiences. For
examples: travels, climbing Mount Everest etc.

Persons:
Celebrity marketing is a major business. To-day, every major film star has an agent, a personal
manager and ties to a public relations agency. For Examples, artists, musicians, physician etc.

Information:
Information can be produced and marketed as a product. This is essentially what schools and
universities produce and distribute at a price to parents, students and communities. For examples,
magazines, encyclopedias, news-papers etc.

Ideas:
Every market offering includes a basic idea. “In the factory, we make cosmetics; in the store we
sell hope.” Social marketers are busy in promoting such ideas. In addition to these, we have
noticed that social marketing focuses on promoting ideas to benefit certain social actions and
changes.

Answer to the question no: 7

Define Consumer resistance with example. What are marketing orientations? Briefly explain
them with suitable example. Which concept/s is/are adopted by the most companies?

Consumer resistance: A consumer is any person or group who is the final user of a product or
service. Here are some examples: A person who pays a hairdresser to cut and style their hair. A
company that buys a printer for company use.

Marketing orientations: A company using market orientation invests time researching current

trends in a given market.For example, if a car company engages in market orientation, it will
research what consumers most want and need in a car rather than produce models meant to
follow the trends of other manufacturers.

Most of the largest companies of the world they use Market orientation as it allows to research
and develop their product line. Vastly this is accepted because of the business growth
possibilities are associated. Market orientation is a customer-centered approach to product
design. It involves market research aimed at determining what consumers view as their
immediate needs, primary concerns, or personal preferences within a particular product
category.Companies may also employ additional data analysis to reveal trends and consumer
desires that are not specifically expressed. A knowledge of these trends ideally can help product
developers meet or even anticipate consumer needs. They may even inspire improvements that
the consumer was not aware of as being an option. This allows a company to focus its product
development efforts on the characteristics that are most in-demand. With an increasingly global
economy and the proliferation of choices for consumers, companies that adapt to a market
orientation may benefit from a competitive advantage over other companies.

Most of the companies are adopted Market Orientations concept because market orientation is a
business approach that prioritizes identifying customer needs and aspirations and creating
products and services that satisfy them. Organizations that have a market-oriented position
consider their target market views and needs as an important component of their research and
development for new products.

Examples of Market Orientation:

Ali-Express:

Ali-Express is a suitable example of a market-orientation based company. It has grown and

developed and consistently added processes and features that clearly address concerns and
aspirations by consumers.

For example, many consumers, especially Luxuries Products, are concerned about delivering
packages when they are not at home. The company responded with Ali-Express Locker, a
network of self-service pickup boxes.

Delivery charges, however reasonable, are a major nuisance to customers and cause them to buy
locally without ordering online. Amazon Prime charges an annual fee for the free delivery of
most of its products.

Answer to the question no: 9

What do you understand by intensive, integrative & diversification growth? Briefly explain
with examples. Which strategy is ideal & why?
Intensive Growth Strategies:

The firm pursues intensive growth strategies with an objective to achieve further growth of
existing products and/or existing markets.

The basic classification of intensive growth strategies:

(a) Market penetration strategy
(b) Market development strategy
(c) Product development strategy
These strategies are also called ‘organic growth strategies
(a) Market Penetration Strategy:
A firm pursuing market penetration strategy directs its resources to the profitable growth of a
existing products in current markets. It is the most common form of intensive growth strategy.

(b) Market Development Strategy:

This strategy involves introducing present products or services into new geographic areas. The
marketing efforts are made on existing products, to customers in related market areas, by adding
different channels of distribution or by changing the current content of the advertising and
promotional efforts.Example – Colgate-Palmolive has been trying to maintain its share of the
toothpaste market by introducing new brands. (Maintaining the market share in a growing market
means, obviously, increasing sales).
(c) Product Development Strategy:
This strategy involves the growth of market through substantial modification of existing products
or creation of new but related products that can be marketed to current customers through
established channels
2. Integrative Growth Strategies:
One of the common growth strategies is the integrative growth strategy. A major contributor to
the growth of Reliance Industries in the early stages was backward and forward integration. It is
today the most fully integrated company in the world (from petroleum exploration to textiles
retailing).
There are broadly two types of integrative growth:
I. Integration at the same level or stage of business in the same industry (horizontal integration),
or
ii. Integration of different levels/stages of business in the same industry (vertical integration).
I. Horizontal Integration:
Integration at the same level of business, popularly known as horizontal integration, involves the
acquisition of one or more competitors.
Forexample- a tyre company may grow by acquiring another tyre company. Examples of
horizontal integration includes acquisition of Universal Luggage’s (Aristocrat) by Bioplast
(V.I.P.) and Tata Oil Mills Company (TOMCO) by Hindustan Lever. The Indian cement
industry has witnessed considerable horizontal integration. The FMCG sector has recently
undergone several acquisitions resulting in horizontal integration.
Perhaps, the most important advantage of horizontal integration is that it eliminates or reduces
competition.
ii. Vertical Integration:
Integration of the different levels/stages of the same industry is known as vertical integration
Diversification Growth Strategies:
Diversification means adding new lines of business. The new lines of business may be related to
the current business or may be quite unrelated. If the new lines added make use of the firm’s
existing technology, production facilities or distribution channels or it amounts to backward or
forward integration; it may be regarded as related diversification. (Example – the diversification
of Videocon).
Some companies expand the business into unrelated industries (Example – Wipro which is in the
business of several FMCG, electrical and lighting, furniture and IT). 

Answer to the question no: 10

If you are marketing manager of ABC Corporation, how would you apply Porter’s Generic
Model for your products or services?
Generic Strategies:

These three approaches are examples of "generic strategies," because they can be applied to
products or services in all industries, and to organizations of all sizes. They were first set out by
Michael Porter in 1985 in his book, "Competitive Advantage: Creating and Sustaining Superior
Performance."
Porter called the generic strategies "Cost Leadership" (no frills), "Differentiation" (creating
uniquely desirable products and services) and "Focus" (offering a specialized service in a niche
market). He then subdivided the Focus strategy into two parts: "Cost Focus" and "Differentiation
Focus." These are shown in figure 1 below.

The Cost Leadership Strategy:

The Cost Leadership strategy is exactly that – it involves being the leader in terms of cost in your
industry or market. Simply being amongst the lowest-cost producers is not good enough, as you
leave yourself wide open to attack by other low-cost producers who may undercut your prices
and therefore block your attempts to increase market share.
The Differentiation Strategy:

Differentiation involves making your products or services different from and more attractive than
those of your competitors. How you do this depends on the exact nature of your industry and of
the products and services themselves, but will typically involve features, functionality,
durability, support, and also brand image that your customers value.

To make a success of a Differentiation strategy, organizations need:

 Good research, development and innovation.

 The ability to deliver high-quality products or services.

 Effective sales and marketing, so that the market understands the benefits offered by the
differentiated offerings.

Large organizations pursuing a differentiation strategy need to stay agile with their new product
development processes. Otherwise, they risk attack on several fronts by competitors pursuing
Focus Differentiation strategies in different market segments.

Cost Focus:
Cost-focus refers to organizations who seek to develop a lower-cost advantage, but only within a
small market segment. These products will generally be basic, vaguely similar to the average
market-leading products (though more popular products can be charged at a higher price) and
will be acceptable to a sufficient number of customers in order to make a profit.

An example would be budget food items or other household tools stocked only by small, local
supermarkets. Another would be a low-cost regional airline which focuses only on specific
routes. These products are often referred to as "me too's".

Differentiation Focus:
In a differentiation-focus strategy, the organization will look to develop product differentiation,
but only within one or a smaller number of market segments. As these organizations have
identified a smaller consumer group to focus on, they can more specifically appeal to the needs
and wants of this group than could an organization which is attempting to differentiate for a
wider population.

3/ https://www.mbaskool.com/business-concepts/marketing-and-strategy-terms/1916-needs.html

4/ https://www.indiaclass.com/selling-is-merely-a-tip-of-the-iceberg-called-as-marketing/

5/ https://corporatefinanceinstitute.com/resources/knowledge/strategy/competitive-advantage/

6/https://www.businessballs.com/strategy-innovation/porters-generic-competitive-strategies/

9/https://www.economicsdiscussion.net/strategic-management/types-of-growth-strategies/31914

10/ https://www.mindtools.com/pages/article/newSTR_82.htm