Assignment - 1 MBA: 1302

Bangladesh Open University

MBA Program
Semester: 171 (1st Level)

Course: Principles of Marketing Due on: May 04, 2018

Instructions
Answer all the questions in your own handwriting on A4 size white paper.
The assignment must be submitted on the assigned date to the Coordinator of the
study center you are attached with.
Spiral binding is strictly prohibited. Instead, transparent folder or file cover or any
other soft binding may be used.

Questions
1. (a) How Marketing is different from Market? Prove with example.
(b) “Marketing plays an important role in improving the quality of life”. Justify this
statement focusing the basic marketing functions practically in Bangladesh.
(c) Suppose, you are the Marketing manager of “Akij food and beverage ltd” and
assigned to one of its cold drinks brand “Mojo” for developing customer oriented
promotion. Now, among the five (5) marketing management philosophies, which
concept is mostly applicable for you and why?

2. (a) What do you mean by Business Portfolio and Strategic Business unit? How
“Basundhara group of industry” apply the BCG Growth-Share matrix with its
diversified units of business? Analyze with a figure.
(b) Assume, you are going to offer a new deodorant brand in Bangladesh for young
customers. Relating to this statement, explain how you will evaluate the factors
influencing your brands marketing strategy and how you will develop marketing mix
for this deodorant brand?

3. (a) “Demographic and psychographic segmentation factors are the most popular bases
for segmenting customers group”- Define the variables of these two segmentation
bases regarding Unilever Bangladesh ltd’s three (3) toilet soap brands; Lux, Dove and
Lifebuoy.
(b) What are the requirements for effective segmentation?
(c) Discuss the merits and demerits of different market-coverage strategies.

4. (a) “A company can differentiate its offer from those of competitors on the basis of
product, services, personnel, or image.” Suppose, you are going to launch an unique
restaurant at Shahbagh Area Dhaka City, how will you attract your potential customers
by differentiating this three (3) ways?
(b) What issues will you consider in selecting the right competitive advantage for your
restaurant?

Note: The assignment must be submitted to the Coordinator of the study center you are attached with.

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 1. (a) How Marketing is different from Market?
Prove with example.

Difference Between Market and Marketing

1. Definition of Market

The term market is defined as a place where the parties meet and exchange their
goods, services and information for consideration. The purchase and sale of
commodities between parties are known as the transaction. The two parties
engaged in an exchange are buyer and seller. The transaction can proceed, either
directly or through intermediaries like agents or institutions.

There are numerous buyers and sellers in a market; that plays a significant role in
fixing prices of goods and services. The buyers decide the demand, whereas
sellers determine the supply. It is a set up where trade is easily concluded, and
resources are allocated, among different members of the society.

Markets at present, are not confined to a physical location only, rather they are
extended virtually also i.e. media market, internet market (e-commerce) are a
good example of that. Market are bifurcated as local, national or global, that can
be for a short period or long period. It can also be divided as a wholesale market,
retail market, financial market and so on.

2. Definition of Marketing

Marketing is all about analyzing, identifying and satisfying consumer needs. It

refers to a set of activities in which the company is engaged in researching,
ascertaining, creating, communicating and supplying a product that creates a
utility to the customers. The objective of marketing is to build and maintain a
strong relationship with the customers so that the whole organization will reap
benefits. It creates a link between company and customer.

Marketing activities are divided into four elements, i.e. product, price,
place and promotion. It is a societal activity through which individual and
communities get what they demand, by creating, offering and exchanging,
provisions and livestock of value.

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3. Differences Between Market and Marketing
The important points of differences between market and marketing are indicated
below:

1. The market is defined as a physical or virtual set up where the buyers and
seller need to proceed exchange of goods and services. Marketing is a set of
activities that identifies, creates, communicates and supplies consumer
needs.
2. A market is a place, i.e. physical or non-physical. On the other hand,
marketing is an act (abstract) of creating a utility of the product.
3. The market is a process which sets the price of the product with demand
and supply forces. Conversely, Marketing is a process which analyses,
creates, informs and delivers value to the customers.
4. The concept of marketing is wider than the concept of a market.
5. The market varies by product, place and other factors. As opposed to
marketing, the philosophy can be consistently applied, irrespective of
product, place and any other factor.
6. Market facilitates trade between the parties. Unlike marketing, that creates
a link between the customer and company, to provide the right product at a
right time at right place.

Proving with examples:

APPLE INC.
Apple is the name in technology and computer world everyone knows. A U.S.
based company handled by Timothy Cook is one of the world’s most powerful brands
(Chazin, 2013). It designs, manufactures and markets communication and media devices,
computers, and digital music players and sells a wide variety of related software, networking
solutions and digital content and applications.
When Apple introduced itself in the market, at that time it faced massive failure (Hangen,
2013). It was in 1990s. Even though Apple made its comeback in retail business largely in a
defensive move in order to gain more control of customer experiences and the market was

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 warmly welcoming (Chazin, 2013). The Marketing strategies used by Apple to be a name
which every organization dreams of are:
 Turning the ordinary into beautiful – Apple has not only re-built the features of
operating system which was standard, but has also reinvented the design standards as
well. Apple focuses on entire product (Hangen, 2013).
 Hire customer oriented and empathetic employees – Steve Jobs, the founder of Apple
has
a unique insight of knowing how modern generation wants to interact with the
technology. People do judge a fish by its scales. Even if they have the best product,
best quality, best software, they present them in very creative and professional way
and impute the desired quality (Hangen, 2013).
 Price justification – Apple has made itself such a big name because of the
quality of service and technology it provides that people are gladly ready to pay a
premium price. The laptop Apple gives is the thinnest (Macbook Air), best
software; excellent display, etc are some of the strength of Apple which gets
people addicted to it (Hangen, 2013).

 Communicate in the language of the consumers – Talking about the things which
people

4. Conclusion

The term market is a noun which refers to a place, while the verbal form of
market is the marketing that represents an action. Since last few decades, with
the advancement of technology, these two concepts have gained extreme
importance in the business world. It is clear that the most competitive companies have
captured almost the complete market in context of new technology and its experiments. They
have made it accessible for the people to meet and understand the growing trends. Classic
finish, brilliant touch, latest technology, advanced features is some of the promotional qualities
which have made Apple the king of market (Kim, 2011). And this company has very well
marketed and executed them. Now, it is understood how market research, planning and
marketing mix are used by not only one but all the organizations.

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