foundation of marketing-amnanmh

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timer Asked: Jan 28th, 2021

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choose one question.... 2000 words only

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MAR4002-B 2020/21 Semester 1 Assessment Students are expected to choose one question (A 2,000-word essay due on Monday, 18th January 2021 at 3pm) Q1. Marketing Environment According to Kotler et al. (2019), A company’s marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. The marketing environment has a huge impact on all organizations. It is a huge challenge to manage the environment in an organization’s favor. However, some organizations are able to make use of this vital element. Apple Inc. is one of these successful companies who were and still until now managing its environment efficiently. Apple Inc. Apple Inc. is an American worldwide corporation which specializes in the design, production and marketing of mobile phones, computers, laptops, software, media devices. The company was founded on April 1, 1976 by Steve Jobs and Steve Wozniak, with headquarters located in Cupertino, California. Apple Inc. designs and provide a wide range of products all over the world such as iPhone, iPad, Macs, Apple Watch, iTunes, iPod. In 2020, Apple Inc.’s business strategy can be summarized as providing the best customer experience with “the best products on earth”. The multinational technology company is well known for its iMac and iPhone. The global company is ranked by Forbes as the world’s most valuable brand in 2020. Apple’s success has been largely attributed to the high quality of its products. With these quality products, Apple has become a ‘love mark’ brand. The iPhone is Apple’s most popular and most successful product line (Forbes, 2018). Apple’s other signature products, the iPad and the Mac computer, are also popular especially in education community. Using the background introduced above, answer the following. a) Define and explain with examples the distinction between Micro and Macro environment. 20marks b) Based on the discussion in class, outline and discuss five reasons why market environmental scanning is important? Justify your reasons with industry examples 20marks c) Outline the microenvironment forces according to Kotler et al., (2019) and explain how Apple Inc. influences 4 major actors in its micro environment. 30marks d) With regards to the current pandemic, discuss three (3) key macroenvironmental forces that might affect Apple Inc.’s marketing decisions in the near future? 30marks OR Q2. Marketing Strategy (Segmentation, Targeting and Positioning) According to Kotler and colleagues, marketing strategy is carrying out segmentation, targeting and positioning for detailed understanding of the marketplace into strategic decisions and the targeting of appropriate customer groups. Starbucks The Starbucks Corporation owned by Howard Shultz is one of the dominant comp]anies in the coffee industry. Shultz vision is to celebrate coffee and promote community by turning Starbucks into a place of community where people can drink great coffee and create new connections. Starbucks mission is to “inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time” (Company website). The company’s philosophy is that any store should be regarded as home; anyone should feel as comfortable there as they do in their own front room. Starbucks is a well-established brand that is known for being high quality. As a global brand, Starbucks has stores in over seventy (70) countries with over 24,000 stores. Starbucks offers over 30 blends and single-origin coffees. Coffee in Starbucks is certainly not cheap but looking at the number of full stores, it is clear that the coffee, as well as other products, is rated highly by consumers. Industry analysts think that the major draw for Starbucks is the welcoming and friendly environment inside the stores. Following the discussion of marketing processes in chapter 3 of your core text, conduct research on Starbucks to attempt the following questions on consumer market segmentation. a) Describe the concept of segmentation and explain why companies must segment its consumer market? 20 marks b) Name and discuss with examples 4 major bases for segmenting consumer markets. Give one example for each base. 20 marks c) Based on the segmentation bases discussed above, examine Starbucks consumer profile, and determine how they segment their consumer market 30 marks d) Based on your answer above, suggest one new target segment for Starbucks coffee product line. (Justify your choice of segment with theories) 30 marks ...
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