EXERCISE 1

1.1
What are the key points about marketing highlighted in
the above conversation?
Points noted from the conversation-
1. Increase profits, not sales
2. Convenience and better customer service
3. Value for money product
4. A strong brand name for the targeted audience
5. Good quality product
6. Strong promotion/ advertisement
7. Meeting customer needs (concluded in the conversation)

What other points do you think should be included?

Points I would like to add-
1. Selling strategy for Target audience: Not every person can
afford a BMW. But one might be able to buy a TOYOTA.
2. Benefits for a loyal customer
3. Personalized messages: For an instance, I started my
jewelry making business during my 2nd year of BTECH
journey and I used to wrap personalized messages for all
my customers thanking them and writing small quotes for
them and that used to make my customers really happy. I
 got some really happy reviews with status updates and posts
which indirectly helped my brand grow and bring new
customers.
4. Updating products seasonally: Everybody loves to try new
things, so a good business man shouldn’t stick with one
product for a longer time.
5. Good product photography and presentation (for online
businesses) and good visual merchandising (for stores).

Therefore, how would you define marketing?

Marketing can be termed as the process of meeting
customer needs by proper market research and brand
promotion.
 1.2
State strongly agree – strongly disagree with proper
reason :
1. Marketing is simply another word for advertising.
Strongly disagree – Advertising is marketing but marketing is
not advertising. Advertising can be termed as a part of the
marketing process but marketing is not just about advertising.

2. The main goal of marketing is to maximize the number of

customers, all other goals are not as important.
Strongly disagree – not only to maximize no. of customers but
make them your long-term customer.

3. People who are successful in marketing are really creative

and outgoing – but are not that good with numbers and
statistics.
Neutral (is it not stereotyping?)
4. Marketers do not usually end up as CEO’s. Most CEO’s have
finance, engineering, or legal background.
Disagree - I believe anyone can end up as CEO someday, if
the person has the required leadership, managerial qualities,
courage, passion and the ability to take risk. Be it a marketer
or an engineer.

5. People in marketing roles tend to have little interaction with

staff from other departments (functions) within a firm.
Neutral – I don’t have any marketing experience myself but
I’ve seen my brother (marketing dept.) having friends from
almost every other department somehow (although that’s
because he’s good at it). So, I believe that depends on a
person’s personality.

6. Marketing is all about making people buy products who don’t

really want them.
Somewhat agree – I believe a good marketer (slightly
deceitful) possess the potential of making people buy
something they weren’t even looking for. Although the term
“all about” is making me say I can’t agree totally. Because a
good marketer who values their client’s need would also just
convince their client to buy exactly what would benefit both
the parties. That way they get to make every new buyer their
long-term client.
7. Marketing tasks are fairly simple, particularly compared to
complex and serious roles/functions like finance and
engineering.
Disagree – no job in this world is easy. But someone with the
passion for the work might find it fun hence simple (at times).

-ANWESHA NATH
 1.3

Group Work- Anwesha Nath, Nancy Das and Santa Jocita Minj

S. Product Need Maslow’s need of

No. hierarchy
1. Phone To communicate Esteem need
2. Money To transact Safety need
3. Wallet To carry money, Social need
IDs
4. Food To overcome Physiological need
hunger
5. Medicine To cure sickness Physiological need
6. Light bulb To provide light Safety need
7. Gas To prepare food Physiological need
cylinder
8. Sanitizer To get rid of Safety need
germs and
viruses
9. Pen To write with Social need
10. Paper To write down Social need
on