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| The complete solution of the first GDB of MKT501 related to Autumn semester 2020 (Marketing Management) has been described in this article. |
Subject
Name: Marketing Management
Code: MKT501
Total Marks: 5
Starting Date: 20
November 2020 (Friday)
Closing Date: 26
November 2020 (Thursday)
Question
Title: Marketing Orientation-Marketing
Philosophies
Weightage:
3
GDB#
01
Learning Objectives
The objective of this discussion is to make the students able to
understand the concept of Marketing Orientation and marketing philosophies
therein.
Learning Outcomes
The objective of this discussion is to make the students able to
understand the concept of Marketing Orientation and marketing philosophies
therein.
Scenario
Suppose there are five different companies operating in
an industry, company A, B, C, D and E. Company
A for its customers focuses on products that are widely available and are inexpensive.
Company B follows the approach focusing
on the product, which offers the most quality performance and innovative features.
Thus, its attention is towards making products more superior with continuous
improvement. The emphasis of Company C
is on aggressive selling and high promotional backup. Company D believes in the concept that holds that the key to
organizational goals consist of the company being more effective than competitors
in creating, delivering, and communicating consumer value to the chosen target,
whereas Company E emphasizes the wellbeing of the consumer and the overall wellbeing of society.
Requirements
Consider the scenario provided above very carefully and
specify/mention the marketing philosophy/concept that is followed by each of
the mentioned companies that is Company A, B, C, D, and E.
(Marks 1X5: Provide the solution in the following
format.)
Company A
Company B
Company C
Company D
Company E
Solution
Company A: The
Production Concept or Philosophy
Company B: The
Product Concept
Company C: The
Selling concept/Philosophy
Company D: The
Marketing concept/Philosophy
Company E: The
Societal Concept/Philosophy