Marketing

Masters in Business Administration

PRINCIPLE OF MARKETING

Assignment No. 1

Presented by:

Noushad Nasrullah

ID # (5316)

Presented to:

Mr. Emad-ul-Karim

Question No. 1

Customer:

Every customer has different needs and wants it’s important to understand their needs and want; e.g. need is the problem and want is the solution for it; so marketer job is to delight the customer with his product which fulfilled his requirement.

List of Wants:

1. Apple I Phone

2. Bungalow at beach of Karachi.

3. Mercedes Benz

4. Rolex watch

5. Armani Suit

6. Apple iMac Laptop

7. Sony Home Theater

8. Spend weekend at Switzerland with my family

9. Owner of Global Company

10. Build a Home of Senior Citizens

Need is the state of felt deprivation there are three types of needs; Physical, Social and Individuals. Want is the solution of our needs and wants are backed by individual personality and culture.

Question No.2

Following are the five alternative concepts under which organizations design and carry out their marketing strategy:

1. The Production Concept:

The products which are easily available and highly affordable.

E.g. Rice, Sugar, Bread, Salt, vegetables etc…

2. The Product Concept:

This concept refer to customer will focus on favor the product with high quality performance and innovation features.

E.g. Cell Phone, Cars, Bikes, Computers, etc…

3. The Selling Concept:

Selling concept holds that products or services cannot be sold until and unless a huge selling campaign will initiate.

E.g. Insurance policy, blood donation.

4. The Marketing Concept:

Holds to satisfy needs, wants and demands of the customers better than your competitor do.

E.g. All Products

5. Societal Concept:

Holds the concept that product should be benefit the customer in the long run the focus should not be on short run.

Polad & Co.

Polad & Co. is one of the oldest and biggest cars auto dealers in Pakistan,...