Full name: Nguyễn Phương Uyên

Student number: 27
FINAL EXAMINATION
Course Name: Principles of Marketing
1)Marketing is the process by which companies engage customers, build strong
customer relationships and create customer value in order to capture value from
customers in return.
*Example of a national company that is excellent at Marketing and how it reflects the
given definition: TH Group
Health is determined to be the most valuable property of human beings. Hence, more
investments in mental and physical development of individuals are being made in
order to ensure the well-being of people. It is believed that nutrition regime,
especially milk, plays an important role in human development. Understanding the
importance of improving Vietnamese stature to national growth, TH Group has
carried out and invested in many clean, organic and sustainable products for the
people; starting with the famous milk production called TH True Milk.
With the value proposition “ Fresh and Clean Milk is the only way” and target
marketing at young children- the company has carried out its marketing strategies by
applying the marketing concept, product concept and societal marketing concept.
hHaving implemented the marketing concept,TH Group has been supplied its
consumer with fresh, organic dairy products and beverages which aim to fulfill
customer needs for safe and natural food and drink. It also integrates all the marketing
activities that affect customer with a rich mix of online websites, blogs, the Facebook
home page, TV advertisements and other social media that solve consumer problems
and help them shop. In turn, it yields profit by creating value for customers based on
customers' value and satisfaction.
When it comes to product concept, the TH True Milk product contains only natural
sweetness and is developed according to EU organic farming standards, as well as
applying AI and microchip technologies in its production line. TH True Milk offers
high standard, innovative product with a low price that can satisfy the most
demanding customers.
Moreover, the company also adopts a societal marketing concept. Being the first
investor for the fresh milk industry in Vietnam, one of the company’s commitments is
to create economic value in a way that also brings life value to the community. It has
opened many programs ( School Milk Program), scholarships ( For Vietnamese
Stature), and charities … aim to raise money for the disadvantaged and children in the
removed areas; together with helping raise awareness among the community about the
nutritional rights of children.
In addition, TH Group also helps deliver superior customer value through partner
relationship management. The closed value chain from TH farm to customers is a
process studied meticulously and carefully in order to perform against competitors’
supply chain and win more equity. This undoubtedly helps the company build capture
greater shares and lifetime value of a customer; while making greater profits for the
company. To sum up, TH Group is a prominent company which excels at Marketing
based on the reason above
2) It is believed by some experts that customers can not possibly provide useful
feedback on what they don’t know and can’t provide insight that will lead to
breakthrough products. This can be a sound argument since there are cases customers
don’t even know what they want and what is possible. But to me personally, I
disagree with this opinion as I believe each consumer in any market varies
tremendously in their wants, resources, locations, buying attitudes, and buying
practices; and in order to meet the actual, unique demand of potential customers,
companies have to do intensive customer research in order to bring out breakthrough
products and services tailored to each.
When it comes to consumer research, there are two basic types: quantitative research
and qualitative research. Quantitative research is collecting and analyzing numerical
data through surveys, polls... It can be used to find patterns and make predictions
about the future buying behavior of consumers since they cover a pretty large sample
size. While qualitative research helps explain the statistical figure and the reasons
behind consumers thinking and behavior - which tells us more basic information
about the new products. Regardless of the differences between the two, the final goal
of both quantitative and qualitative is to better understand customer’s opinions about
the new product and services, and what kinds of products or services that they have in
mind.
Moreover, consumer research analysis is often used to identify product satisfaction
among consumers. This type of analysis allows marketing analysts or managers to
point out the factors that contribute to low satisfaction levels and can also discover
factors which consumers are highly contented with. Therefore, it is necessary to
perform consumer research.
3) In the past few decades, marketing has changed dramatically. There are many new
forms of marketing that appear. Mass marketing ( or undifferentiated Marketing),
which is a traditional method of marketing, refers to a market coverage strategy in
which the company offers the same products and services to a whole market without
making any further classifications on any basis. An example about mass marketing is
toothpaste product (such as the brand Colgate) isn’t made especially for any target
segment but appeal to the largest numbers of people.
On the other hand, the new act of identifying a market, then making various
classifications like age, income, race, gender, etc into the market and later making a
specific marketing segment is known as segmentation. For example, let’s take a look
at M&M company with their individual marketing. Those candy lovers can log in to
the M&M website and personalize their own messages and pictures on each candy.
Companies today recognize that they cannot attract all customers in the same way
and they themselves vary in the abilities to serve different market segments.
Therefore, to compete with other firms and yield a greater profit; huge numbers of
suppliers in each industry are moving towards segmentation marketing and mass
marketing is losing its grip. Although some might claim that there will always be
room for big brands to use marketing programs to target the mass market, the natural
marketing process is slowly disappearing offering beneficial and refined market
segmentation schemes. Thus, it is possible for us to say that mass marketing is dead.