Marketing Assignment - Introduction to Business - University Name

This marketing assignment explores several key concepts. It begins by defining the target market and explaining its crucial role in a successful marketing plan. The assignment then defines bundling as a marketing strategy and provides examples of products that are commonly bundled together. Finally, it examines the impact of social media on companies, particularly whether it has forced them to back up their marketing efforts and engage in more socially responsible decisions. The assignment includes an introduction, definitions, examples, and a discussion of social media's influence, all supported by relevant references. This assignment provides a good understanding of fundamental marketing principles.

Running head: MARKETING
Introduction to Business
Name of the Student:
Name of the University:
Author Note:

1MARKETING
Table of Contents
1. A. Definition of Target Market...................................................................................................2
B. Reasons why Understanding of Target Market is Crucial for Successful Marketing Plan.........2
2. A. Define Bundling.....................................................................................................................3
B. Examples of Products Bundled Together....................................................................................3
3. Do you Think Social Media Forced Companies in Backing up their Marketing and Engage in
more Socially Responsible Decisions?............................................................................................3
References:......................................................................................................................................5

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1. A. Definition of Target Market
Target market represents the end consumers to whom the company is willing to sell the
end products (Aghdaie and Alimardani). Target marketing represents breaking the whole market
into different segments and accordingly planning the marketing strategies for each of the
segments for increasing market share.
B. Reasons why Understanding of Target Market is Crucial for Successful Marketing Plan
Understanding of target market is vital for successful marketing plan for the following
messages (McDonald and Wilson):
Helps in Crafting Specific Messages: The identification of the target audience helps in
crafting messages specific to them. It is to be noted that needs are different and hence the crafted
marketing message should reflect how each of the need would be accepted.
Enables Focusing on the Potential: Identification of the target audience helps the
marketers in focusing on the customers who can purchase the product. It also results in the
highest potential for profit by limiting the budget and the population.
Helps in Reaching Right Audience: Identification of the target market helps the
advertising message in reaching the intended recipient.
Frame Strategies which are Cost Effective: Target audience also helps it easier in
making decisions on the media allocations. This helps in saving money and receives better return
on the investment.

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2. A. Define Bundling
Bundling refers to the marketing strategy that joins services or products together for
selling the as one combined unit (Verbeke and Kano). This allows convenience in purchase of
various products or services from the company. Here, it is to be noted that the products and
services mostly remain related. However, they can also comprise of the dissimilar products those
appeals to single customer group.
B. Examples of Products Bundled Together
The most common example of bundling is the value meals of McDonalds. Examples also
include automobiles that feature sunroofs, geographical system and air conditioning. A computer
package along with monitor, keyboard, mouse and the preloaded software is also an example of
the bundled product.
3. Do you Think Social Media Forced Companies in Backing up their Marketing and
Engage in more Socially Responsible Decisions?
There is an increased hype regarding the social media platforms and the potential impact
on the global marketing. Hence, various companies are diligently establishing its presence on the
Twitter, Facebook, Foursquare, Tumbler, Blogs and Instagram for allowing casual
communication with the customers thereby leading to the creation of affable relationship which
would have been otherwise difficult to achieve. This also helped in building awareness and
development of the customer engagement. It is also considered a richer vehicle in allowing the
corporations in undertaking interaction with the various customers who considers them as the
active co-creators of the corporate programs instead of becoming the passive recipients of the
corporate messages. According to Constantinides, marketing through social media is used for

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getting the constituents involved which included the ways of volunteering, signing petition and
spreading the word in becoming the advocates for cause. It also helps the consumers in tracking
that impact of the involvement of the company thereby adding the emotional and the human
component. However, there is a need for two ways communication through the social media
pages for understanding the interest of the potential consumers there maintaining connection
with the loyal patrons.
Thus, social media acts as the unique component of the decision making journey for
consumers and is the sole marketing form that has the ability of touching the consumers at each
and every level.

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References:
Aghdaie, Mohammad Hasan, and Maryam Alimardani. "Target market selection based on
market segment evaluation: a multiple attribute decision making approach." International
Journal of Operational Research 24.3 (2015): 262-278.
Constantinides, Efthymios. "Foundations of social media marketing." Procedia-Social and
behavioral sciences 148 (2014): 40-57.
McDonald, Malcolm, and Hugh Wilson. Marketing Plans: How to prepare them, how to profit
from them. John Wiley & Sons, 2016.
Verbeke, Alain, and Liena Kano. "An internalization theory perspective on the global and
regional strategies of multinational enterprises." Journal of World Business 51.1 (2016): 83-92.