Assignment-I

Marketing is a process by which companies create value for customers and build strong
customer relationships in order to capture value from customers in return.
The twofold goal of marketing is to-
• attract new customers by promising superior value
• grow current customers by delivering satisfaction
Every day we come across various marketing campaigns from local brands like ACI, Square, and
Global brands like Unilever, Arla.

Market
It is the set of all actual and potential buyers of products and services. These buyers share a
particular need or want that can be satisfied through exchange relationships.
Needs
These are states of felt deprivation that include basic physical needs for food, clothing, warmth,
and safety; social needs for belonging and affection; and individual needs for knowledge and
self-expression.
Wants
These are the form that human needs take as they are shaped by one's culture and society and
described in terms of objects that will satisfy those human needs.

Demand
When human wants that are backed by buying
power, these are known as demand.

Customer & Consumer

In popular usage, the terms consumer and customer are frequently interchanged. A consumer, in
simple terms, is someone who consumes a product. A client, on the other hand, is someone who
buys or purchases a thing. Regardless of their precise meanings, both words are considered
fundamental in the consumerism economic philosophy.
Customer Value
It is the incremental benefit that a customer derives from consuming a product after paying in
return.
Customer value is the phenomena that prevents businesses from going bankrupt and instead
allows them to maintain long-term connections with current customers and gain repeat business
by offering an exceptional customer experience. Customer value is defined as finding and
delivering what customers value most, yet this is frequently easier said than done.
When company executives fail to focus on customer value, they find their companies in disarray,
losing revenues and market share at a rapid rate as their customers seek out more attractive
alternatives.
Customer Satisfaction
The extent to which a product's perceived performance matches a buyer's expectations.
Customer Satisfaction is a term used to describe how satisfied a customer is with a Customer
satisfaction is a metric that measures how effectively a company's products or services fulfill the
expectations of its customers. It's one of the most crucial markers of client loyalty and buying
intent. As a result, it aids in the forecasting of revenue and business growth.
Customer delight:
When you surprise a customer (or client) by going above and beyond their expectations, you've
created customer pleasure. Customer satisfaction occurs when expectations are satisfied.
Customer pleasure occurs when expectations are exceeded.
The last level of the inbound technique is Client Delight, which is described as surprising a
customer by exceeding his or her expectations and therefore eliciting a positive emotional
response. Customers who are satisfied utilize your product, but customers who are pleased are
loyal and actively promote your business through word-of-mouth.
Customer loyalty:
Customer loyalty is defined as a persistent preference for one company's products and services
over those of competitors. Customers that are loyal to a single provider are not readily persuaded
by price or availability. Customers who have faith in the firms with whom they do business are
more inclined to buy from them again in the future.
Customer loyalty is defined as a persistent preference for one company's products and services
over those of competitors. Customers that are loyal to a single provider are not readily persuaded
by price or availability. Customers who have faith in the firms with whom they do business are
more inclined to buy from them again in the future.
Marketplace:
A marketplace is a venue where merchants can come together to offer their wares or services to a
select group of customers.
The firm that owns the website and products is in charge of all marketing and operations. Unlike
online shop owners, marketplace owners do not own the merchandise that their platform offers.
An e-commerce site that links vendors and customers is known as an online marketplace. It's also
known as an electronic marketplace, and the website owner is in charge of all transactions.
Marketspace:
A marketplace is a venue where businesses may come together to offer their wares or services to
a select group of people.
The firm that owns the website and products is in charge of all marketing and operations. Unlike
online shop owners, marketplace owners do not own the merchandise that their platform offers.
Examples of online marketplaces include Amazon, eBay, and Craigslist.
Meta market:
A Meta market will gather all buyers and sellers together in one location for a single goal. A
Meta market brings together various consumers who do not need to discriminate between closely
related items, rather than offering numerous products to one customer.
The best examples of Meta Marketing can be selling family planning ideas or the idea of
prohibition.
Marketing mix:
The marketing mix is a framework for analyzing the many aspects of promoting a brand and its
goods. It provides broad principles for placing the right items in the right places at the right times
and at the appropriate prices.
Price, Product, Promotion, and Place are the four Ps that make up a standard marketing mix.
However, numerous other Ps, such as packaging, positioning, people, and even politics, are
becoming more important mix factors in today's marketing mix.
Societal marketing The idea that a company's marketing decisions should consider consumers'
wants, the company's requirements, consumers' long-run interests, and society's long-run
interests.
Holistic marketing:
Holistic marketing is a marketing approach that analyzes the entire firm as a system, including
all marketing channels. A company's many divisions work together in synergy to achieve a
conscious goal, a wonderful customer experience, and a favorable brand image under this
approach.
The finest example of Holistic Marketing is Coca-Cola. They based their whole marketing
strategy on one goal: happiness. They not only advertised their goods, but they also advertised
Happiness. Coca-Cola intended to promote Happiness based on that one purpose. They
demonstrated in a way that everytime you are pleased, you should drink a Coke.
Marketing myopia:
When marketers focus only on existing wants and lose sight of underlying consumer needs, it is
known as marketing myopia. This is the mistake of paying more attention to the specific
products a company offers than to the benefits and experiences produced by these products.
Blockbuster simply failed to understand its customers and the technology that was empowering a
change in their habits.

Assignment –II

Various influencing factors for the following products are described below-

Perceived Quality 
Customer perception of overall quality or superiority in comparison to alternatives is
described as the customer's perception of the product's overall quality or superiority in
relation to its intended function. The scientific competence in a commodity that can be
tested and calculated is referred to as objective consistency. Although perceived
consistency is a consumer's assessment of a product's general excellence or dominance, it
encompasses both visible and intangible characteristics. A product's perceived consistency
has a strong favorable impact on buying intentions.
 
Interpersonal Influence 
Consumers' vulnerability to comparison group control when making commodity or brand
buying decisions has been shown by several researchers. If there is a high level of social
impact, the consumer's attitude and buying behavior against those brands will shift. As a
result, exposure to behavioral control has been used as a key individual predictor in
customer behavior research. Interpersonal effect is greater where the product category is
more prominent and its possession or use is more widely visible, according to previous
studies on moderators of comparison group influence.
 
Perceived Prestige 
The prestige value of a brand is an abstract term, and brands with a high prestige value can
handle a larger variety of products than brands with a high functional value, such as
longevity and reliability.Prestige is a crucial consideration affecting the purchasing of
products like wristwatches and cellphones. Interactions with individuals (- for example,
aspired and/or peer comparison group), object properties (- for example, best features), and
hedonic ideals help consumers create reputation meanings for products.
 
Country of origin 
Customers shape an overall impression of a particular country as well as its products based
on past experiences with products originating from that country, which is described as
"overall perception that customers form with a particular country as well as its products
based on previous experience with products originating from that country." It is also well
recognized as a key cue used by foreign advertisers to manipulate consumers' perceptions
of a brand. Consumer preferences are influenced by a country's image. Public preferences
toward all products from a given market, as well as individual products or labels from that
country, are influenced by country of origin.
 
Convenience and availability 
Earlier studies have pointed out that, consumers are influenced by the travel costs of
shopping. For products that require less consumer involvement, buyers prefer their
purchase from nearby sources instead of a distant shop. Similarly brands that are available
in nearby or central supermarket tend to retain its buyers. In the FMCG sector, the major
factors influencing purchase decision are quality, price and availability of products.
 
Emotional Value 
The profit resulting from the emotions or affective states (i.e. happiness or pleasure) that a
commodity produces is known as emotional worth. That is the advantage gained by doing
something new or different. Non-utilitarian rewards, such as pleasant and exciting activities,
can be provided by products and brands, resulting in distinct emotional value for customers.
 
Brand Loyalty 
Among the most important objectives for any marketer is to develop "customer brand
loyalty," which allows marketers to gain a competitive edge. A customer's attachment to a
brand is known as brand loyalty. Brand loyalty is described as "a favorable attitude toward,
and constant purchasing of, a specific brand." Such a trait can be seen from both a
behavioral and an attitude standpoint.

Assignment – III
Within the external marketing environment, there are two types of elements: micro
and macro. These external variables are outside the marketers' control, yet they
nevertheless have an impact on the decisions taken while developing a strategic
marketing plan.
Micro Environment Factors

1. Internal Organizational Environment:

The first is the internal environment of the company—its many

departments and management levels—and how these influence
marketing management's decision-making.

2. Marketing Channel:

The marketing channel companies that collaborate to generate value are

the second component: suppliers and marketing intermediates
(middlemen, physical distribution firms, marketing-service agencies,
financial intermediaries).

3. Types of Market:

The third component consists of the five types of markets in which the
organization can sell: the consumer, producer, reseller, government, and
international markets.

4. Organizational Objectives:

All publics with a real or prospective interest in or influence on the

organization's capacity to fulfill its objectives make up the fifth
component: financial, media, government, citizen action, as well as local,
general, and internal publics.
 5. Competition: Every business faces rivals. Other organizations that compete
with each other for resources and markets are referred to as competitors. As
a result, it is critical for a company to be aware of its rivals and capable of
analyzing risks posed by them. At all times, a company must be aware of its
rivals, including their strengths and shortcomings, as well as the most
aggressive and strong competitors.

Macro Environment of Marketing

1. Demographic Environment:
The study of human populations in terms of size, fate, geography, age, gender, race,
occupation, and other data is known as demography. This is one of the most important
factors that marketers use to divide the population into market segments and target
markets.

Demographic data may also be used to create geographical marketing strategies, as well
as age and sex-specific plans.
2. Political Environment:
The macro variables that influence consumer purchasing power and spending habits are
referred to as the economic environment. It covers income levels, policies, and the
structure of an economy, as well as economic resources, trade cycles, and income and
wealth distribution. When a family's or country's income (per capote income) changes, so
does the family's or country's buying behavior and spending pattern.

3. Natural Environment:
The natural environment refers to the natural resources that marketers require as inputs or
that are influenced by marketing operations. As a result, marketers should be aware of
numerous environmental trends.
4. Cultural Environment :
The marketing strategy of a company is also influenced by cultural factors such as
heritage, living styles, religion, and so on. Social responsibility is becoming increasingly
important in marketing, as seen by the gradual appearance of social responsibility in
marketing literature.Business enterprises should take the lead in removing socially
damaging items, according to socially responsible marketing.
5. Technological Environment:
Perhaps the most dramatic and fast-changing factors are technological forces. For
marketers, these macro-environmental pressures result in a new product, new markets,
and new marketing possibilities.