MARKETING MANAGEMENT ASSIGNMENT

Introduction to Marketing
Q.1 What is Marketing ?
Marketing is identifying human wants and needs .Marketing is the process of exploring,
creating, and delivering value to meet the needs of a target market in terms of goods and
services .

Q.2 What do you mean by Utility ?

Utility is a measure of satisfaction an individual gets from consuming an item or service. It
has the power of satisfying needs .
There are four types of utility
1} Form Utility- It involves the transformation of raw material into finished goods .
2} Time Utility- When a company provides good or services to consumers when they
demand or need them, it is referred to as time utility.
3} Place Utility- Making goods or services available in locations that allow consumers to
easily access products and services.
4} Ownership Utility- It is the amount of usefulness or perceived value a consumer derives
from owning a specific product and being able to use it as soon as possible.

Q.3 Types of era in marketing ?

There are different types of era in Marketing
Production Era – Consumers favor products that are available and highly affordable.
Product Era – Consumers favor products that offer the most quality performance and
innovative features.
Sales Era – To make advertisements ,promotions to convince consumers to buy things they
don’t need.
Marketing Era – Focuses on need/wants of target markets and delivering satisfaction. The
Consumer is King !
Q.4 Types of Marketing
Relationship Marketing – Maintain long term relationships with consumers and other
partners
Digital Marketing – Promoting products and services through social media ports like
Facebook, Instagram, Youtube, Twitter etc. Sell products over social media

Q.5 Concepts of Marketing ?

Difference between needs ,wants and demands
Needs – Necessary to Survive or basic requirement.
Eg) Food , shelter, clothes etc
Wants – They are not mandatory it depends on the personality of the person
Eg) To quench his thirst -Plain water, bisleri and juice
Demands -When backed by a buying ability power. The wants which are premium and of
high standards
Eg) BMW Car , 5 Star Hotels