Programme Name: Foundation Diploma

Student’s ID 20223610
Student’s Name Yakubov Asilbek
Lecturer’s Name Sally Lo

Module name Fundamentals of Marketing

Intake November intake

Date of submission

Submission deadline 23 December 2022

FOR OFFICIAL USE ONLY:

Marker’s Comments

Marker’s Name: Initial Marks Awarded /100

Penalty on Late
Submission

Final Marks Awarded /100

What is marketing and what is its primary goal?

Marketing refers to the process of identifying, anticipating, and satisfying customer needs
and wants through the creation, promotion, and distribution of goods and services. It
involves a range of activities, such as market research, product development, advertising,
sales, and customer service, among others.
The primary goal of marketing is to create value for both customers and the company by
meeting the needs and wants of customers while achieving the company's objectives, such
as increasing sales, market share, and profitability. To achieve this goal, marketing seeks to
understand customer behavior, develop products and services that meet their needs,
promote those products and services effectively, and provide excellent customer service.
Marketing is an essential function for any business or organization that wants to succeed in
a competitive market. It helps companies build strong relationships with their customers,
differentiate themselves from competitors, and create long-term value for both customers
and the company.
2. Compare and contrast customer needs, want and demands. Describe the need versus
the want for the following products: Ipad, Nintendo, Coca Cola, 100Plus.

Consumer requirements, desires, and demands are three critical marketing ideas that organizations
must grasp in order to develop goods that appeal to their target customers.

Consumer needs are fundamental requirements that customers require to meet their biological,
social, and psychological demands.

Customers' wants are distinct wishes or preferences for things that they believe will meet their
requirements.

Consumer expectations are defined as customers' willingness and capacity to purchase items or
services that suit their needs and desires and that they can afford.

IPAD

Clients require a portable device that allows them to access the internet, work, and communicate
while on the road.

Consumers desire a fashionable, high-quality tablet that is simple to use and has a long battery life.

Consumers are eager and able to pay for the iPad because it meets their need and desire for a
portable, high-quality tablet.

NINTENDO

Consumers require entertainment and leisure activities in order to relax and enjoy their free time.

Consumers desire an entertaining, engaging gaming console with a diverse selection of games.

Consumers are eager and able to pay for Nintendo items because they meet their demand and
desire for amusement and recreational activities.
Coca Cola

Need: Consumers need to keep hydrated and quench their thirst.

Consumers desire a refreshing, pleasant drink that they may drink whenever they want.

Consumers are eager and able to pay for Coca Cola because it meets their demand and desire for a
refreshing, pleasant beverage.

100 PLUS

Consumers require rehydration and electrolyte replenishment following physical exercise.

Consumers desire a sports drink that is both refreshing and tasty.

Consumers are ready and able to pay for 100Plus because it meets their need and desire for a sports
drink that rehydrates and restores their electrolytes following physical exercise.
3.Discuss about the marketing concept.

The Marketing Concept is concerned with the notion of meeting the customer's demands through
the product as a solution to the customer's problem (needs). The Marketing Idea marks a significant
shift in today's business approach, laying the groundwork for achieving a competitive edge.

Production, product, selling, marketing, and society are the five marketing ideas. The table below
gives further information about each category.

With this marketing idea, the emphasis is on manufacturing big quantities of a product. It also
emphasizes the product's accessibility to the user at a modest cost. The buyer's mind process may
be, "It's right here and it's inexpensive, so why not get it?"

Product - The emphasis in this notion is on upgrading and increasing the product's quality. These
acts, coupled with delivering helpful and appealing features to clients, allow the product to be
supplied at a higher price. The customer's mind process may be, "It's so unique, it's worth buying."

Selling entails using strong persuasion or even aggressive selling to persuade as many clients as
possible to buy. There is less attention on the purchaser's wants and more emphasis on making the
transaction. The consumer's mind process may be, "Alright, ok! You've persuaded me. "I'll get it."

Marketing is concerned with the wants and desires of the client. The objective is to provide a high-
value product that meets the needs of the consumer. The purchaser's mind process may be, "It's just
what I need and desire!" I'm glad I got it."

This notion is distinct from the others. Profits are not the primary goal; social responsibility is as well.
The buyer's thought process may be, "It feels nice to buy what I want while making the world a
better place."
4. Briefly explain each of the five steps in the marketing research process.

Marketing research is often divided into stages, the number of which varies depending on the topic
being addressed. It also relies on when the marketing research is conducted. Three to seven weeks
are required for investigations done in one or two stages. If the research is divided into two or three
sections, such as a qualitative and quantitative investigation, the overall time frame may be
somewhat longer than seven weeks[1]. Multi-stage investigations take significantly longer, especially
if big samples are involved.

Take, for example, a five-month market research project.

1. Define the problem, set goals, and develop research hypotheses.

2. Creation of a research strategy, which includes: identifying the research technique; determining
the type of information needed and data gathering methods; creating data collection forms; and
selecting study objectives.

3. Data gathering.

4. Data examination.

5. Report preparation and presentation, including conclusions and practical suggestions.

5. Briefly explain the segmentation, targeting and positioning process.

Segmenting means identifying and classifying consumers into categories called segments. Targeting
identifies the most attractive segments, usually the ones most profitable for the business.
Positioning proposes distinctive competitive advantages for each segment.