Objectives of the Assignment
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OBJECTIVES OF THE Assignment
To showcase understanding of marketing concepts learnt in the class and readings from text/reference books and journals of relevance.
Choosing any product/Service of choice.
Picking up two brands in the chosen product/service category
One should be an Indian company and the other an MNC.
Scope of Assignment Part A:
Introduction to product category, brands chosen and industry brief.
To identify the customer segment targeted by the chosen brands by demographic and socio-economic factors.
Scope of Assignment Part B:
Compare the marketing mix elements of the selected two brands.
Analysis should bring out points of parity and differentiations.
1. MARKETING CONCEPT
The marketing concept emerged in the mid 1950s. The business shifted from a product centered, make & sell philosophy, to a customer centered, sense & respond philosophy. The marketing concept holds that the key to achieving organizational goals consist of the company being more effective than competitors in creating, delivering & communicating superior customers value. This concept puts the customers at both the beginning & the end of the business cycle. The 4 Principles of marketing concept classified by McCarthy which he called four Ps of marketing are product, price, place and promotion. (Kotler Keller Marketing Management p.16)
Fig 1.1: Four P Components of Marketing Mix (Kotler Keller Marketing Management)
When marketing their prod
1. MARKETING CONCEPT
The marketing concept emerged in the mid 1950s. The business shifted from a product centered, make & sell philosophy, to a customer centered, sense & respond philosophy. The marketing concept holds that the key to achieving organizational goals consist of the company being more effective than competitors in creating, delivering & communicating superior customers value. This concept puts the customers at both the beginning & the end of the business cycle. The 4 Principles of marketing concept classified by McCarthy which he called four Ps of marketing are product, price, place and promotion. (Kotler Keller Marketing Management p.16)
Fig 1.1: Four P Components of Marketing Mix (Kotler Keller Marketing Management)