SOLVED MGT301 Assignment 1 Solution and Discussion

[zareen]

Principles of Marketing (MGT301) Assignment No. 1
Due Date: November 15, 2019. Total Marks: 10
Weightage: 04
Topic:Marketing Orientations. Learning Objective:
Fall, 2019
The core objective of this activity is to familiarize students with the concept of marketing orientation philosophies.
Learning Outcomes:
This activity will widen student’s vision, and make them capable enough to understand how renowned brands formulate appropriate strategies as per current market trend thus by gaining customer attention and maximizing clientele.
The Case:
Sapphire is a Lahore based fashionable clothing brand in Pakistan that offers readymade, unstitched and haute couture clothing which is considered as highly sought after within the country with millions of loyal customers across Pakistan and abroad. This brand has achieved height of success because of its exclusivity, trendiness, uniqueness and superior quality fabric. Other than just focusing on revenue generation this brand has an aim of improving the environment by making it free from plastic pollution. As, after oil and gas sectors, fashion and retail industries are the second largest plastic polluter across the globe.
Having said this, Sapphire has introduced biodegradable bags that are infused with plant seeds in them. After using, the customers can tear the bag into small pieces and plant those pieces in soil for the seeds to germinate and contribute to making the environment greener and pollution free. This incredible idea significantly amplified the fame of Sapphire among its target customers. Moreover, this initiative earned the brand huge word-of-mouth publicity and resulted in appreciation from people belonging from all walks of life. The exposure of this remarkable initiative over Instagram, Facebook, via bloggers and in-store advertising tremendously increased the brand equity of Sapphire. Indeed, the initiative is considered as one of the best marketing campaigns ever run by any company in the history of Pakistan.

Requirement:
After reading above case, you are required to answer below questions:

1. Which one of the following “Marketing Orientation Philosophies” you think Sapphire has
   adopted as per the given scenario? (4 Marks)
   a. Production concept.
   b. Product concept.
   c. Selling concept.
   d. Societal marketing concept.
2. What kind of other benefits you think Sapphire could achieve by adopting this marketing orientation philosophy? (6 Marks)
   Marking Scheme:
   Important:
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   The total marks of this assignment are 10; question no.1 carries 4 marks, question no.2 carries 6 marks.Avoid irrelevant text/material while answering the question.
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Note related to load shedding: Please be proactive
Dear students,
As you know that Pre Midterm semester activities have started and the load shedding problem is also prevailing in our country. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs.
“GOOD LUCK”

[zareen]

Requirement:
After reading above case, you are required to answer below questions:
Which one of the following “Marketing Orientation Philosophies” you think Sapphire has adopted as per the given scenario? (4 Marks)

The Production Concept. This concept is the oldest of the concepts in business. It holds that consumers will prefer products that are widely available and inexpensive. Managers focusing on this concept concentrate on achieving high production efficiency, low costs, and mass distribution. They assume that consumers are primarily interested in product availability and low prices. This orientation makes sense in developing countries, where consumers are more interested in obtaining the product than in its features.
The Product Concept. This orientation holds that consumers will favor those products that offer the most quality, performance, or innovative features. Managers focusing on this concept concentrate on making superior products and improving them over time. They assume that buyers admire well-made products and can appraise quality and performance. However, these managers are sometimes caught up in a love affair with their product and do not realize what the market needs. Management might commit the “better-mousetrap” fallacy, believing that a better mousetrap will lead people to beat a path to its door.
The Selling Concept. This is another common business orientation. It holds that consumers and businesses, if left alone, will ordinarily not buy enough of the selling company’s products. The organization must, therefore, undertake an aggressive selling and promotion effort. This concept assumes that consumers typically sho9w buyi8ng inertia or resistance and must be coaxed into buying. It also assumes that the company has a whole battery of effective selling and promotional tools to stimulate more buying. Most firms practice the selling concept when they have overcapacity. Their aim is to sell what they make rather than make what the market wants.

The Societal Marketing Concept. This concept holds that the organization’s task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors (this is the original Marketing Concept). Additionally, it holds that this all must be done in a way that preserves or enhances the consumer’s and the society’s well-being.

This orientation arose as some questioned whether the Marketing Concept is an appropriate philosophy in an age of environmental deterioration, resource shortages, explosive population growth, world hunger and poverty, and neglected social services

What kind of other benefits you think Sapphire could achieve by adopting this marketing orientation philosophy? (6 Marks)
The Marketing Concept. This is a business philosophy that challenges the above three business orientations. . It holds that the key to achieving its organizational goals (goals of the selling company) consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its selected target customers. The marketing concept rests on four pillars: target market, customer needs, integrated marketing and profitability.

Distinctions between the Sales Concept and the Marketing Concept:
The Sales Concept focuses on the needs of the seller. The Marketing Concept focuses on the needs of the buyer.

2.The Sales Concept is preoccupied with the seller’s need to convert his/her product into cash. The Marketing Concept is preoccupied with the idea of satisfying the needs of the customer by means of the product as a solution to the customer’s problem (needs).

The Marketing Concept represents the major change in today’s company orientation that provides the foundation to achieve competitive advantage. This philosophy is the foundation of consultative selling.

The Marketing Concept has evolved into a fifth and more refined company orientation: The Societal Marketing Concept. This concept is more theoretical and will undoubtedly influence future forms of marketing and selling approaches.

[zareen]

@zareen said in MGT301 Assignment 1 Solution and Discussion:

Marketing orientation philosophies:

1. Sapphire adopted the “The social Marketing concept” in the given scenario. Because due to the blooming global warming threats makes up the minds of present population of the world to be serious to control the wastes especially plastic wastes. It will help to regulate the carbon footprint and less pollution in environment. Controlling the global warming is a burning issue now a days and Sapphire textiles took a very keen and solid initiative to attract the target market by doing something useful for environment.

2. As social marketing concept puts the social welfare on top instead maximizing the profit and generating revenue, Sapphire took the historical step in Pakistan business market to promote and aware the other competitors to do some serious steps towards controlling global warming threats all around the world. It will also help Sapphire in business to gain bigger market share, which are following:
   a. It will create a promising image for the Sapphire to increase sales and generate revenue.
   b. It will allow sapphire for a sustainable marketing needs to meet their goals socially and with respect to business point of view.
   c. It can help sapphire to uphold an enduring association with their customers.
   d. Social Marketing concept gives an edge over the competitors to Sapphire.
   e. It can also help Sapphire to expand and grow their business around the globe.
   f. Social marketing concept provide an opportunity to the organization to participate in other social drives and achieving their corporate social responsibilities (CSR) targets.
   g. Social marketing concept gives value to the customers and their well-being in a manner which attract consumer towards the company in a long run.