College of Administrative and Financial Sciences
Assignment- 2
Marketing Management (MGT 201)
Course Name: Marketing Management Student’s Name:
Course Code: MGT201 Student’s ID Number:
1. Outline an understanding of the global competitive environment and the changing marketing practices. (CLO-2)
2. Demonstrate the ability to formulate marketing strategies that incorporate psychological and sociological factors which influence consumer’s decision. (CLO-3)
3. Develop critical and analytical thinking necessary to overcome challenges and issues of marketing in the changing global environment. (CLO-4)
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The global competitive environment refers to the market conditions and competition faced by companies operating in multiple countries and across different industries. In today’s globalized economy, companies are facing increased competition from both domestic and international competitors. Companies are also experiencing changes in consumer demand, technology, and regulations that are affecting the way they do business. In order to remain competitive, companies must adapt their marketing practices to meet the changing needs of their customers and stay ahead of their rivals. This includes developing a deep understanding of the target market, identifying new opportunities, and implementing effective marketing strategies.
Formulating marketing strategies that incorporate psychological and sociological factors that influence consumer decision making is critical for success in today’s global market. Psychological factors such as consumer perception, motivation, and attitudes play a significant role in determining consumer behavior. Sociological factors such as culture, social class, and lifestyle also influence consumer decision making. By understanding these factors, companies can develop targeted marketing strategies that effectively reach and influence their target market. This can include using targeted advertising, creating personalized experiences, and developing a strong brand image that resonates with consumers.
Developing critical and analytical thinking is essential for overcoming the challenges and issues of marketing in a changing global environment. This includes the ability to analyze market data, identify trends, and make informed decisions. It also requires the ability to think creatively and strategically to develop new marketing concepts and ideas. Companies must also be able to critically evaluate the effectiveness of their marketing strategies and make adjustments as necessary. By developing these skills, companies can navigate the complex and ever-changing global market and make informed decisions that drive business success.
Part-A: Case Study Max Marks-5
Read the Chapter Case Study “P&G Segments its Market along Multiple Dimensions” from Chapter No- 9 “Segmentation, Targeting, and Positioning” Page: – 308 and 309 given in your textbook/E-book – “Marketing” (8th ed.) by Dhruv. Grewal and Michael Levy (2022) and answer the following Questions:
1. In addition to the list of options presented in this case, how else might a multinational, multibrand conglomerate like P&G segment its millions of customers? Use other ideas from the chapter to suggest other segmentation methods that could be used.(2.5 Marks)
2. What are the other emerging segments of consumers that would be attractive for P&G, such that it might start developing new product lines to appeal to them? (2.5 Marks)
Part-B: Critical Thinking Max Marks-10
Reading required: – Read Chapter 10, 11, 15 and 17 carefully and then answer the following questions based on your understanding.
1. Grocery chains such as Abdullah Al-Othaim Markets track consumers’ purchasing habits through store loyalty cards like Iktisab. These cards collect purchasing data and build consumer profiles. How can grocers like Abdullah Al-Othaim Markets use these data to create value for the firm and consumers? Chapter-10. (2.5 Marks) (Minimum 150 words)
2. Identify a specific brand of your choice from the local market that has developed a high level of brand equity. What specific aspects of that brand establish its brand equity? Critically examine based on the concepts discussed in Chapter-11. Chapter-11 (2.5 Marks) (Minimum 150 words)
3. Coupons and rebates benefit different distribution channel members. Which would you prefer if you were a manufacturer, a retailer, and a consumer and why? Explain based on the concepts discussed in Chapter-15. Chapter-15 (2.5 Marks) (Minimum 150 words)
4. Some argue that retailers can be eliminated from the distribution channel because they only add costs to the final product without creating any value-added services in the process. Do you agree with this viewpoint? Are consumers likely to make most purchases directly from manufacturers in the near future? Provide justification for your answers based on the concepts discussed in Chapter-17. Chapter-17 (2.5 Marks) (Minimum 150 words)
Important Notes: –
• For each question, you need to answer not in less than 150 Words.
• Support your answers with course material concepts, principles, and theories from the textbook and scholarly, peer-reviewed journal articles etc.
• Use APA style for writing references.
Good Luck
Answers
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Part-B
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