HARAMAYA UNIVERSITY

COLLEGE OF BUSINESS AND ECONOMICS

DEPARTMENT OF ACCOUNTING AND FINANCE
Individual Assignment for Principle MARKETING

NAME KUMAA ABDULWAHAB KAMER

ID No ..........................070/14

SECTION........B......

1. You are a marketing manager at any Co. Your company has asked you to redesign their segmentation
strategy. So, you will apply the theory you have learned on Segmentation, Targeting and Positioning using
relevant examples where necessary.
(a)Then how to segment the Market, Targeting the Market and Market Positionining (b)Provide an
advantage for using segmentation, targeting, and positioning in developing marketing strategies.
A. To redesign the segmentation strategy, I would start by identifying different variables to segment the
market, such as demographics, psychographics, behavior, and geographic location. For example, if my
company is in the fashion industry, I would segment the market based on factors such as age, income level,
lifestyle, and shopping behavior. Once the segments are
identified, I would then choose which segments to target based on their attractiveness and compatibility with
the company's resources and objectives. Finally, I would position the company's products or services in a way
that resonates with the targeted segments, highlighting the unique value proposition that meets their specific
needs and preferences
B. The advantage of using segmentation, targeting, and positioning in developing marketing strategies is that it
allows for a more personalized and effective approach to reaching the target market. By understanding the
different segments within the market, companies can tailor their products, pricing, distribution channels, and
promotional activities to better meet the needs and wants of each segment. This leads to higher customer
satisfaction, increased brand loyalty, and ultimately, higher sales and profits. Additionally, it helps in creating a
strong competitive advantage by focusing on specific segments where the company can excel and differentiate
itself from competitors.
2. Marketing Mix
(a) What is the Marketing Mix?
(b) The 7Ps of Marketing Mix
(c) Why is the marketing call Controllable?
(d) Analysis of the marketing mix of Coca Cola factory?
A. The Marketing Mix refers to the set of tactics and strategies that a company uses to promote its products or
services to the target market. It includes the four Ps: Product, Price, Place, and Promotion.
B. The 7Ps of Marketing Mix include the traditional 4Ps (Product, Price, Place, and Promotion) as well as
three additional elements: People, Process, and Physical Evidence. People refer to the employees and
customers involved in the marketing process, Process refers to the methods and procedures used to deliver the
product or service, and Physical Evidence refers to the tangible elements that support the service.
C. The marketing mix is considered controllable because the elements within it can be adjusted and
manipulated by the company to meet the needs and wants of the target market. This allows companies to have
a certain level of control over their marketing efforts and adapt to changes in the market.
D. An analysis of the marketing mix of Coca Cola factory would involve examining how the company
manages its product offerings, pricing strategies, distribution channels, promotional activities, people involved
in marketing, processes for delivering its products, and physical evidence such as packaging and branding.
This analysis would provide insight into how Coca Cola positions itself in the market and competes with other
beverage companies.
3. Determine an advantage for using a product life cycle mode.
Advantages of using a product life cycle model include:
a. Strategic planning: The product life cycle model helps in strategic planning by providing a framework for
understanding the different stages of a product's life and planning for each stage accordingly.
b. Marketing decisions: The model helps in making marketing decisions such as pricing, promotion, and
distribution strategies based on the stage of the product in its life cycle.
c. Resource allocation: It helps in allocating resources effectively by focusing on products at different stages of
their life cycle and making decisions about investment, development, and divestment.
d. Competitive advantage: Understanding the product life cycle can help companies identify opportunities for
innovation and differentiation to maintain a competitive advantage in the market
4. Identify key aspects of affective Consumer buying and Business buying behavior?
Key aspects of affective consumer buying behavior include:
A. Emotional factors: Affective consumer buying behavior is influenced by emotions, feelings, and personal
preferences. Consumers may make
purchasing decisions based on how a product makes them feel or its perceived emotional benefits.
B. Brand loyalty: Affective consumer buying behavior can lead to strong brand loyalty, where consumers
develop emotional attachments to certain brands and are willing to pay a premium for them.
C. Impulse buying: Emotional factors can also lead to impulse buying, where consumers make unplanned
purchases based on their immediate emotional response to a product or promotion.
Key aspects of business buying behavior include:
a. Rational decision-making: Business buying behavior is often driven by rational decision-making processes,
where factors such as cost, quality, and performance are carefully evaluated before making a purchase.
b. Long-term relationships: Business buying behavior often involves building long-term relationships with
suppliers and partners, based on trust, reliability, and mutual benefit.
c. Organizational goals: Business buying behavior is influenced by the goals and objectives of the
organization, including factors such as efficiency, productivity, and cost savings.
5. Critically analyze and evaluate consumer and customer management practices adopted by the company and
how consumers react to individualized consumer organization interaction?
Consumer and customer management practices adopted by a company can have a significant impact on
consumer behavior and the overall success of the business. Companies that prioritize customer satisfaction,
personalized interactions, and effective communication are more likely to build strong relationships with their
consumers and drive repeat business.
For example, companies that offer personalized recommendations based on a consumer's past purchases or
browsing history are more likely to engage and retain customers. Similarly, companies that provide excellent
customer service and support are more likely to earn customer loyalty and positive word-of-mouth referrals.
Additionally, companies that actively seek and respond to customer feedback are better positioned to adapt
their products and services to meet consumer needs and preferences. This proactive approach to consumer
interaction can lead to increased customer satisfaction and long-term loyalty.
It is also important for companies to recognize the impact of consumer organization interaction on consumer
behavior. Consumers today are looking for brands that align with their values, support social causes, and
demonstrate ethical business practices. Companies that prioritize sustainability, corporate social responsibility,
and transparency in their operations are more likely to attract and retain
socially conscious consumers.
Overall, the way a company interacts with its consumers, the level of personalization and attention to
individual needs, and the alignment with consumer values and expectations all play a critical role in shaping
consumer buying behavior. By understanding and adapting to these factors, companies can effectively
influence consumer behavior and drive business success.
a. Digital Transformation: With the increasing use of technology and digital channels, the bank industry is
likely to see a shift towards digital banking and online transactions. This trend will require banks to invest in
advanced digital platforms and provide seamless, user-friendly experiences for their customers.
b. Personalization and Customization: Customers are increasingly seeking personalized and tailored banking
services that cater to their individual needs and preferences. Banks will need to focus on offering personalized
financial advice, customized products, and targeted marketing strategies to meet these demands.
c. Sustainability and Ethical Banking: As consumers become more conscious of environmental and social
issues, there is a growing trend towards sustainable and ethical banking practices. Banks that prioritize
sustainability, support social causes, and demonstrate ethical business practices will be more appealing to
socially conscious consumers.
socially conscious consumers.
d. Enhanced Security and Privacy: With the rise of cyber threats and data breaches, customers are increasingly
concerned about the security of their financial information. Banks will need to prioritize robust security
measures, transparent privacy policies, and proactive communication to build trust with their customers.
e. Seamless Omnichannel Experience: Customers expect a seamless experience across various channels,
including online, mobile, and in-person interactions. Banks will need to integrate their services across different
channels to provide a consistent and convenient experience for their customers.
One company in the bank industry that is responding well to these trends is JPMorgan Chase. The bank has
invested heavily in digital transformation, offering a range of online and mobile banking services to cater to
the needs of tech-savvy consumers. JPMorgan Chase also prioritizes sustainability and ethical banking
practices, committing to environmental initiatives and supporting social causes.
6. Discuss potential trends in buyer behavior in the bank industry over the next ten years. Identify companies
in this sector which are of responding well to the trends, and make recommendations how bank industry can
update the way it engages with current and potential customers?
A. Invest in Advanced Technology: Banks should prioritize digital transformation and invest in advanced
technology to offer seamless online and mobile banking experiences for their customers.
B. Personalize Financial Services: Banks can leverage data analytics and customer insights to offer
personalized financial advice, customized products, and targeted marketing strategies.
C. Embrace Sustainability and Ethical Practices: Banks should prioritize sustainability, support social causes,
and demonstrate ethical business practices to appeal to socially conscious consumers.
DA. Invest in Advanced Technology: Banks should prioritize digital transformation and invest in advanced
technology to offer seamless online and mobile banking experiences for their customers.
B. Personalize Financial Services: Banks can leverage data analytics and customer insights to offer
personalized financial advice, customized products, and targeted marketing strategies.
C. Embrace Sustainability and Ethical Practices: Banks should prioritize sustainability, support social causes,
and demonstrate ethical business practices to appeal to socially conscious consumers.
D. Enhance Security Measures: Banks need to prioritize robust security measures, transparent privacy policies,
and proactive communication to build trust with their customers.
E. Integrate Omnichannel Services: Banks should integrate their services across different channels to provide a
consistent and convenient experience for their customers, whether online, mobile, or in-person interactions.
By adopting these recommendations, the bank industry can effectively respond to potential trends in buyer
behavior and enhance its engagement with current and potential customers.

. Enhance Security Measures: Banks need to prioritize robust security measures, transparent privacy policies,
and proactive communication to build trust with their customers.
E. Integrate Omnichannel Services: Banks should integrate their services across different channels to provide a
consistent and convenient experience for their customers, whether online, mobile, or in-person interactions.
By adopting these recommendations, the bank industry can effectively respond to potential trends in buyer
behavior and enhance its engagement with current and potential customers.