ZHEJIANG GONGSHANG UNIVERSITY

SCHOOL OF BUSINESS ADMINISTRATION

COURSE: MARKETING

STUDENT NAME: Lillian Kobusingye

NATIONALITY: UGANDAN

STUDENT NUMBER: 21010019014

Individual Marketing can be known as personalized or one on one marketing. It ensures products
and marketing programs are tailored to the needs and preferences of individual customers.
Product differentiation distinguishes your products from the competitors. It can be based on the
product, the delivery system, or the marketing approach. Firms use high quality and low prices to
attract consumers and attain a market leader status. Similarly, we use differentiation to neutralize
present and future threats. By using the five force model we can neutralize threats like new
entrants in the same market segmentation, a firm can use product differentiation by adding a new
feature e.g. Colgate adding charcoal. The second force is threat of rivalry, you have to keep up
with the competitors with product differentiation. The threat of substitution may take you out of
business if not addressed e.g Fuel vehicles vs Electric cars. Power of suppliers relates to supply
chain management such as vertical or horizontal division of labor. The power of buyers ensures
you treat customers like kings. Bases of differentiation include product features, complexity, the
timing of introduction, and location. Location-based marketing uses mobile devices to target
mobile users within a certain geographical area. It is powered by technologies such as GPS to
reach consumers in the right place with the right message and experience at the right time. Local
search marketing ensures that local business listings can be found by customers when searching
for products and services online in your geographical area. Content marketing is the practice of
developing and providing content to your customers on a subject-to-know basis. Delivering
relevant and compelling content can grow your business.
To summarize, quality removes customers’ uncertainty through positive interpretation and
rewarding experiences. Consumers can provide quality ratings after collecting data and
calculating the reward potential.