AMK 01 Solved Assignment 2023-24
MARKETING
AMK 01 Solved
Assignment 2023-24 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
Assignment Code: ASST/ AMK 01/2023-24
Marks: 100
Attempt all the questions.
Q1. Define market
targeting and explain the procedure on how to target different markets?
Market
targeting, also known as target marketing, is the process of identifying and
selecting specific segments of a market that a business wants to focus its
marketing efforts on. The goal is to tailor marketing strategies and messages
to meet the unique needs and preferences of the chosen target segments. By
doing so, businesses can more effectively allocate resources and increase the
likelihood of success in reaching and satisfying their desired customer base.
Here's a
step-by-step procedure on how to target different markets:
Market
Segmentation:
Definition:
Divide the overall market into distinct segments based on specific criteria
such as demographics, psychographics, geographic location, behavior, or other
relevant factors.
Procedure:
Conduct market research to identify different groups of potential customers
with common characteristics or needs. This could involve analyzing demographic
data, surveying customer preferences, or studying buying behaviors.
Market
Analysis:
Definition:
Evaluate the attractiveness and potential of each market segment to determine
which ones align with the company's objectives and capabilities.
Procedure:
Assess the size, growth potential, profitability, and competitiveness of each
market segment. Consider factors such as the purchasing power of the segment,
the level of competition, and the company's ability to meet the needs of that
segment.
Target Market
Selection:
Definition: Choose
one or more specific market segments that the company wants to target based on
the analysis of their attractiveness and fit with the company's goals.
Procedure:
Select the segments that align with the company's strengths and objectives.
Consider factors like the segment's size, growth potential, and compatibility
with the company's products or services.
Develop
Marketing Mix:
Definition:
Customize the marketing mix (product, price, place, and promotion) to meet the
needs and preferences of the selected target market(s).
Procedure:
Create tailored strategies for product development, pricing, distribution
channels, and promotional activities. Adapt these elements to match the
specific characteristics and demands of the chosen target market.
Implementation:
Definition:
Execute the marketing strategies designed for the selected target market(s).
Procedure:
Implement the marketing plan, ensuring that all elements are aligned with the
chosen target market. This may involve adjusting advertising messages, selecting
appropriate sales channels, and delivering products or services in a way that
appeals to the targeted customers.
Monitor and
Adjust:
Definition:
Continuously evaluate the effectiveness of the marketing strategies and make
adjustments as needed.
Procedure:
Monitor key performance indicators (KPIs) such as sales, customer feedback, and
market share. Use this information to assess the success of the targeting
approach and make changes to the marketing strategies if necessary.
By following
these steps, businesses can refine their marketing efforts to better connect
with specific customer segments, ultimately increasing the chances of success
in the marketplace.
Q2. Explain basic
methods of price determination. Also discuss the factors influencing pricing.
Q3. Write short notes on the following:
a) Personal selling
b) Cash discount
c) Super-market
d) Monopoly
Q4. Differentiate between the following:
a) Marketing and
Selling
b) Departmental store
and Multiple shop.
c) Marketing mix and
Promotion mix.
d) Publicity and
Public relations
Q5. Comment briefly on the following statement:
a) “Marketing
communication plays an important role in company's overall marketing process”.
b) “Product line
refers to all the products offered by a particular seller”.
c) “Market skimming
makes sense under certain conditions”.
d) “All buying
decisions start with need recognition”.
AMK 01 Solved
Assignment 2023-24 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
AMK 01 Solved
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