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Principles of Marketing Assignment 3

1. Provide an explanation for the difference between mass and targeted marketing and
give an example of each.
Targeted marketing differs from mass marketing in that it seeks to reach a specific and
profiled audience, while mass marketing tries to reach as many people as possible. A
business can drive leads and sales using both of these methods.
Mass Marketing
As a result of the large number of people who use telecommunications services,
telecom operators use mass marketing campaigns. A wide range of FMCG products,
including soaps and detergents, also use mass marketing. Personal hygiene products,
such as body deodorants, also use this marketing strategy since a broad market
segment uses them.
Mass commercialization is also evident in Coca-Cola. During the winter holidays, his
television commercials are also seen, clearly aimed at all audiences. Over time, Coca
Cola's mass marketing strategy has proved to be very effective and powerful because
it covers a wide range of niche markets in terms of popularity.
Targeted Markets:
It is possible for small businesses to identify their target markets more effectively
through market research. For example, a small hardware company can conduct 300
consumer telephone surveys. Companies may ask consumers for information such as
their age, education, employment status, household size, and income. By doing so, a
typical profile of a customer can be developed for the company.
In a hardware store, for example, the majority of customers are men over 35 with
incomes over $50,000. This segment of the market can be targeted by local TV
commercials. Warranty cards can also be used by small businesses to collect
demographic information about their customers. A new product usually comes with
such a card.

2. How have companies such as JC Penney and Target tried to change their position
(reposition their stores)?
Discounts, deals, and promotions were initially the focus of JCPenney. With deals and
coupons, JCPenney will offer fast discounts on highly defined goods. There was a
price change for merchandise that customers were already familiar with, not for brand
new merchandise. At the time JCPenney first opened, it was a place where the entire
family could find great clothes. 
In the end, JCPenney joined a group of bargain hunters. In the past, JCPenney was
known for its promotions, price-focused advertising, and later the marking of prices.
As "America's Favorite Store," JCPenney has positioned itself as a world-renowned
retailer.
 Brian Cornell and his management team set in motion Target's recent stellar sales
results in early 2017. Over the next three years, Cornell and co. will invest $7 billion
in store, digital, and supply chain improvements, and create new, exclusive brands to
meet the needs of a new retail era. As part of its plan to cut costs and boost digital
sales, the nation's #2 department store discount retailer will sacrifice $1 billion in
annual operating income.

3. Explain the various types of offerings marketed to individuals and provide an

example of each
Consumers buy convenience offerings without much thought or hesitation. Fast food,
detergent powder, etc., are examples.
The shopping offering involves the customer thinking about the product many times
and comparing it with other products before purchasing. Mobile phones are an
example, clothing, furniture, computers, etc.
Small groups of people purchase specialist products because of their status and loyalty
to a brand. There are many examples of expensive cars, expensive and deziner cloths,
and expensive painting.
A sought-after offering is one for which consumers never consider and only purchase
at times of need and danger. Examples include life and accident insurance, fire
extinguishers, and funeral services
4. The text says that branding is much more than labeling or packaging. Provide some
examples where you believe the product did not live up to the brand. Using examples
to illustrate how consistency works, discuss how the offering and the desired brand
image have to be consistent.
Colgate cue
Colgate launched a toothpaste named "Cue" in France without knowing that the name
is also used by a pornographic magazine, leading to disastrous sales for the particular
product and the company had to retract all their claims. A branding mistake led to this
Pacific mashup.
Electrolux vacuum cleaner
Electrolux introduced vacuum cleaners in the United States with the tagline "Nothing
Sucks Like Electrolux" this failed Pacific landing cost the company increased sales
and weakened its brand image in society.
It is very important for any brand to have a consistent brand image and to use different
strategies to create that image based on the society. 
When selecting a brand identity, a specific strategy should be followed. To avoid any
misconceptions among customers, it is important to conduct a proper survey before
entering a global or local market. In this case, the results of the misunderstanding are
very helpful.