Marketing management

Name Talmeez Fatima

Roll No bsf1801204

Question Answers
1. WHY MARKETING IS IMPORTANT?

Answer:
 Marketing Is a communication channel used to inform customers
 Marketing helps the management team to make informed decisions
 Marketing is an important strategy to ensure the growth of your business

2. WHAT IS THE SCOPE OF MARKETING?

Answer:
 Goods
 Services
 Events
 Experiences
 Persons
 Place
 Organizations
 Idea
 Properties

Services
Marketing plays a major role in the selling of services produced anywhere in the world. For
example- the services of doctors, engineers, software consultants, lawyers and management
consultants, etc.

3. WHAT ARE SOME CORE MARKETING CONCEPTS?

Answer:
 Core marketing concepts:
 Needs, Wants, Demands
 Target markets, Positioning, Segmentation
  Offerings and Brands
 Marketing Channels
 Paid Owned and earned media
 Impressions and Engagement
 Value and Satisfaction
 Supply Chain
 Competition
 Marketing Environment

NEEDS, WANTS, DEMANDS:

 Needs are things that satisfy the basic requirement
 Wants are requests directed to specific types of items.
 Demands are requests for specific products that the buyer is willing to and able to pay
for.

4. WHAT FORCES ARE DEFINING THE NEW MARKETING REALITIES?

Answer
 Network information technology
 Globalization
 Deregulation
 Heightened competition
 Industry
 Retail transformation
 Consumer buying power
 Consumer information

GLOBALIZATION
. Technological advances in transportation shipping and communication have made it easier for
companies to market in and consumers to buy from almost any country

5. WHAT NEW CAPABILITIES HAVE THESE FORCES GIVEN CONSUMERS

AD COMPANIES?

Answer
 Marketers can use the internet as a powerful information and sales channel.
 Marketer can collect fuller and richer information about markets, customer prospects and
competitors.
 Marketers can tap into social media to amplify their brand message.
6. WHAT DOES A HOLISTIC MARKETING PHILOSPHY INCLUDE?
Answer
 Holistic marketing refers to a marketing strategy that considers the whole of a business. And all
the different marketing channels as a system. Under at this approach, a business with different
departments comes together.

7. WHAT TASKS ARE NECESSARY FOR SUCCESSFUL MARKETING

MANAGEMENT?

Answer:
 Developing marketing strategies and plans,
 Connecting with customers,
 Building strong brands,
 Shaping the market offerings,
 Delivering and communicating value,
 Capturing marketing insights and performance,

Capturing marketing insights and performance,

Each organization should closely monitor its marketing environment, continually assess market
potential, and forecast demand