Question-   The Marketing Concept

Solution-

Answer:
1-In the business market concept, we can say that the market structure and demand consist of fewer but larger buyers because companies purchase bulky amounts.also derived demand as the demand for the production factor depends on the demand for the good used in production.It consists of inelastic demand as well as fluctuating demand as it is not affected by price change.In business markets, there are more decision participants in the nature of buying unit, they have more professional purchasing efforts, and they have more buyer and seller interaction.In purchasing types, the straight rebuy, that is, the types that routinely order a product, the modified rebuy, that is the product same, but want to modify some of its properties, the new task, the first time to order a completely new product, and finally the systems selling, that is, the types that offer a completely package solution. we can talk. For pariticipants, we can say that it consists of users, influencers, deciders, purchasers and gatekeepers.The consumer market consists of individuals and households who purchase goods and services for personal consumption.Consumer markets are those that are more affected by their own characteristics and purchasing behaviors compared to the business market, and that buy less from the many options.consumers are affected by cultural, social factors, personal and psychological factors in the purchasing process.In the consumer market segmentation, customers have different types of needs.We divide the market into geographic demographic psychographic and behaviorally, but we divide business markets according to customer operating characteristics, purchasing approaches, situational factors, and personal characteristics.

 
2-It is very important for determining marketing strategies as it enables us to see all stages from the entry of the products to the market until their disappearance. Different strategies and distribution types should be applied for each stage. In the first stage, the introduction part, the consumers do not have information about the product because the product is newly launched, there is little or no profits. There is high distribution because we try to promote the product and at the same time, our promotion expenditures are high. In this stage, only innovators are interested in the product.
In this stage, we can separate the product from competitors by applying differentiation strategy and eliminate the question of why should I buy this product. second stage is growth part.There is an increase in sales and competitors because the product is now known and consumers know. Profits increase, but as competitors will want to imitate us, we can apply strategies such as increasing product quality, adding new features, entering a new market or targeting a new segment, or lowering prices to separate ourselves from them.
 
Third part is maturity stage.
Now that we have a lot of competitors, our product has many equivalents.
Overcapacity exists because higher level of supply but demand is the same.
At this stage, we can increase our promotions or R&D to support sales and profit.

3 kinds of modification can be done in this stage

1-Modify the market,can enter new market segments

2-Modify the product,the product's package, feature, quality can be changed.

3-Modify the Marketing Mix, one or more of the marketing mix elements can be changed, for example the distribution channel.

 

Finally, we enter the decline stage.

What to do in this part is up to the company.

It is the death stage of the product.

1-Maintain the product,they try to produce.

2-Harvest the product, that is, they sell as much as they can, reduce the prices

3-Drop the product, that is, they leave the product directly like the dogs on BCG.

 

3-They have applied market skimming pricing by entering the market with a high price product. Thus, they can make profitable sales by progressing layer by layer.
First, they target the customers who will enter at high prices and buy at this price, then drop them and appeal to the lower segment, so each model actually makes profitable sales.
In addition, the company has made a brand extension with the same brand new product.
They applied co-branding strategy with Thom Browne
 
4-. Using the advertising strategy of the blue star promotion mix, it offers the computer world to consumers in massive ways for a certain price.
Blue Star's distribution strategy is selective because it only allows limited number of stores to distribute its product.
Blue star implements a value based pricing strategy, giving priority to customer needs and values.They set the price build on on consumer understanding.
 
 
5-Harrington implements differentiation strategy.
Target market is fashionable, educated, professional women ages 25-60, Harrington's client is concerned with sophisticated elegance.
 
They offer premium prices to support the brand's status. (skimming)
For example, they apply a push strategy to draw attention to the new product line and thus attract the customer to the product.
They also organize personal sales and fashion shows. In order to draw attention to their new active wear, they are promoting their products both directly and indirectly through direct and indirect marketing.
In e-commerce sites, owned stores or specialty stores.
 
 
 
 
 

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