RMIT Classification: Trusted

MARKETING PRINCIPLES
ASSIGNMENT 1- INDIVIDUAL REFLECTION

Course Code MKTG1205

Course Name Marketing Principles

Title of Assignment Assignment 1 – Individual Reflection – Week 4

Student name Le Ho Nhat Ha

Student Number S4030854

Teachers Name Sang Hua My

Group Number Group 01

Assignment due date 26 November 2023

Date of Submission 24 November 2023

Word Count 998

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"Micromarketing - A surprising coincidence"

Several months ago, after completing the national entrance exam for higher education, high
school students like me were allowed to enjoy a period of free time before entering university.
As an enthusiastic teenager, I launched a small online shop, selling customized notebook
covers for students entering a new school year. This venture not only provided me with the
experience of independently creating and marketing products but also served as a practical
introduction to the complexity of commerce. Fascinatingly, it was not until I enrolled in this
course and learned about the Micromarketing strategy in an online lecture by Miss Yen that I
realized I had applied this strategy to my online shop. Previous hands-on experiences with
Micromarketing made this concept relatable and particularly resonant to me.

Through the course, I discovered that conducting a marketing strategy involves more
complicated stages than just launching and promoting products. Before applying any marketing
strategies, it requires segmenting the market, evaluating them, and determining which ones the
company can serve most effectively. According to the theory, that company’s attractive segment
can be defined as the target market, a group of customers sharing common needs or
characteristics that the business decides to serve (Armstrong et al. 2020). Businesses move on
to implementing suitable marketing strategies after identifying their target market. There are four
main strategies that I was taught within the course, including Undifferentiated marketing,
Differentiated marketing, Concentrated marketing, and the standout strategy for me -
Micromarketing. More specifically, Micromarketing refers to the process of utilizing specific
preferences and personal information to tailor products and marketing programs to the needs
and wants of individuals and local customers, mainly ‘focused on the needs and behavior of a
small segment of the population’ (Kurian 2013). This includes Local marketing and Individual
Marketing. Regarding the former, Local marketing is the practice of adapting brands and
promotions to the requirements and desires of local customers, such as those in cities,
neighborhoods, and even single retailers (Armstrong et al. 2020). In our face-to-face tutorial
class, I gained a much better understanding of this concept as Ms. Sang gave us a really
practical example regarding some differences in how stores in District 7 and District 2 in Ho Chi
Minh City cater to their residents. In particular, District 7 has been filled with many Korean
residents, so there are many Korean restaurants around. Meanwhile, many Western people
choose to reside in District 2, so the stores nearby tend to serve them high-quality cheese,
bread, or milk, and the staff there must be fluent in English to bring them the best service. In
terms of the latter, Individual marketing is also a strategy adapting products and marketing
campaigns to the customers’ needs and preferences, but it is more personal and somehow
more unique compared to the Local marketing strategy. Thus, it is also labeled as ‘one-to-one
marketing’, ‘customized marketing’, and ‘markets-of-one marketing’ (Armstrong et al. 2020).

Before taking this course, I merely thought that Starbucks write their customers’ names on the
cups just as a way to avoid serving wrong orders. However, I have changed my view after
learning about this strategy’s concept, that Starbucks has been applying the Individual
marketing, which is writing customers’ names on the cups and allowing personal customizing of
favorite beverages, as a tactic for not only improving operational efficiency but also to create
better customer experience, make their drink more than just a transaction but themselves also a
part of Starbucks (The Cup Is Mine 24 March 2022). In relation to the case of my online shop,
 RMIT Classification: Trusted

the reason why I am specifically drawn to this concept, I was applying this Individual marketing
tactic to target creative students. I offer them notebook covers that can be customized to their
personal preferences, involving adding their names, school details, subjects, or any other
favorite elements. This not only helps to create notebook covers that are well-suited to their
aesthetic taste but also provides them with a great sense of ownership and particularly meets
their individual needs.

Learning about Micromarketing enables me to gain a much deeper insight into how companies
carry out their marketing processes, especially when not all customers have the same needs
and preferences. It gives me an opportunity to greatly enhance my strategic thinking skills as
Micromarketing is centered around understanding the complexity of serving specific customer
segments. I have to analyze and put myself in my customers’ shoes to address their unique
needs and wants. In the long run, this also facilitates a customer-centric mindset in me, which
can be greatly helpful for me as a marketer to conduct successful and effective marketing
campaigns. I gradually learn to place my customers at the center of decision-making, offer them
well-tailored and personal values, and cultivate lasting relationships that benefit both my
customers and my business.

In the future, this Micromarketing concept can be applied both to my coursework and my private
life. In terms of my study, I think it is quite interesting and also somehow a bit weird when I just
consider meeting each different course requirement in correlation with satisfying my customer
target segments. Instead of tailoring my products or services, I will flexibly adapt my studying
strategies to perform accordingly. For instance, I will attempt to research and read more related
materials for courses mainly based on theories, taking Introduction to Management as an
example. Meanwhile, I will try to enhance my Excel skills to effectively learn some courses
related to numbers like Business Information Systems. Furthermore, I will also apply
Micromarketing theory to my private life in which I follow similar principles of this strategy,
involving identifying my personal goals and aspirations, segmenting them into manageable
tasks, and then focusing on specific aspects of my life at different times. Last but not least, I will
also apply micromarketing during my personal branding journey where I will begin with a deep
understanding of myself, identify and improve my strengths, values, and unique qualities that
make me stand out from others.

REFERENCE LIST

Anand V (24 March 2022) ‘The Cup Is Mine - Why Starbucks Puts Customers’ Names on the
Cups’, Point of View, accessed 22 November 2023.
https://onlykutts.com/index.php/2022/03/24/the-cup-is-mine-why-starbucks-put-customers-
names-on-the-cups/

Armstrong G, Denize S, Volkov M, Adam S, Kotler O, Ang S, Love A, Doherty S, and Van Esch
P (2020) Principles of Marketing: Selecting target market segments, 8th edn, Pearson
Education Australia, United States.

Kurian GT (2013), The AMA Dictionary of Business and Management: Chapter M, AMACOM,
New York.