HI5004: Marketing Management Tutorial Questions Assignment, Semester 2

This document presents comprehensive solutions to a series of marketing management tutorial questions. The assignment delves into various aspects of marketing, including adapting marketing strategies for the fashion industry during the COVID-19 pandemic, exploring the Lovemarks concept and its implications, analyzing the importance of understanding consumer behavior and the tools used to study it, defining and suggesting a target market for a new product, examining Zara's product strategy and its success in fast fashion, and identifying steps in the sales process. Each question is answered thoroughly, providing insights and analysis related to the specific marketing concepts and scenarios presented. The solutions are designed to help students understand the core principles of marketing and apply them to real-world business situations.

Marketing
Management

Table of Contents
MAIN BODY.............................................................................................................................3
Question 1..............................................................................................................................3
Question 2..............................................................................................................................4
Question 3..............................................................................................................................5
Question 4..............................................................................................................................5
Question 5..............................................................................................................................6
Question 6..............................................................................................................................7
REFERENCES...........................................................................................................................8

MAIN BODY
Question 1
You are required to provide and discuss some suggestions to adapt the marketing strategy of
the industry selected for Covid -19.
Due to the pandemic which have led to unified isolation the fashion revolution is
unfolding the effects which are seen on the fashion industry. There are a number of retailers
were shutting the doors throughout the world and also encouraging the customers to shop
online. However the reality is that all the people are still staying at home and are under
financial burden due to which buying new clothes is a far away thought. There have been
unexpected hold in the manufacturing of clothes which is vulnerable and also the lowest paid
people in the fashion industry have been affected by this (Deepak and Jeyakumar, 2019).
There are a number of new ways which can be adopted by fashion industry to market their
products during this pandemic. The marketing strategies which can be used by companies are
mentioned below:
Customers prioritize trusted relationships: It have been seen that customers are
valuing trusted relationships over next 12 months. It is necessary that marketers are focusing
on building relationships with customers rather than selling them at a lower cost. When they
focus on relationship they can effectively persuade customers to buy their products and
loyalty level of customers will lead to make them a regular buyers for fashion industry. It is
necessary for marketers in fashion industry to exercise this opportunity in order to create a
brand attachment with customers.
Online and digital bets payoff: Online sales is the best way of marketing products in this
pandemic. It is necessary that fashion industry is displaying their products online which will
be safe enough process to sell products without coming in physical contact with customers
(Chernev, 2018). During this pandemic of COVID-19 it is necessary to maintain distance
from customers for their safety. Online media is the best tool to reach out to maximum people
with minimum risk to customers.
Social media setups and pays off: Social media is a great way to market product on
the benefits which will help brands in fashion industry to build their value. It will also help
them to connect with customers and retain certain customers for longer period of time. There
are a number of customers who are engaged with social media and building relationship with

them during this pandemic will bring benefits for the company in long run. The findings from
social media have contributed to benefits for fashion industry over long on. It is the challenge
for marketers in fashion industry to make sure that they are successfully understanding social
habits and migrating them in their products in order to attract customers.
Marketers do more with lower head counts: Fashion industry on a number of loyal
customers who are focus towards certain brands (Hollensen, 2019). It is necessary that
marketers are focusing on less number of customers who are potential. Rather than focusing
on the whole market marketers are required to clearly segment their market and target only
potential customers which will help them save time and also efforts during this pandemic.
Question 2
Do you agree with Kevin about Lovemarks concept? If yes, why and if no, why not? You
have to use the information from the links to support your discussion.
Love marks is an efficient concept of marketing which replaces the idea of brand. I
agree with Kevin about the concept of love Mark is the idea of understanding human
psychology and building love marks instead of brand will enable to attract more customers
and also create personal bond with them. Rather than providing them information love marks
will provide them relationship and the product or services will be loved by people through it.
It is also personal in nature and memorable. The attributes of products on the love marks will
be wrapped in mystery which will instigate customers towards the services. Rather than
values it believes in spirits which will help in creating a love story between customer and
they do that (Naudé and Sutton-Brady, 2019). The creativeness within this concept is
passionate enough to make sure that people are attracted to it. Rather than being a brand it
will create a lifelong relationship with customers working on their psychology and effectively
earn profits through it. Lovemarks does not just create a typical loyalty but it also helps in
creating a loyalty which is beyond reason. This means that the people who love the product
will buy them without even thinking of cross shopping for any other brand. This is the best
way for company to attract customer only ones. Once they have affectively set up a
relationship with customers they do not need to work on it any further. This relationship will
help them to earn profits and revenues from those customers for rest of their life. It is a one-
time process and with the help of it a product and service can be effectively sold to customers

however there will be some changes required according to the changes psychology and
requirements of people due to external environment.
Question 3
What are the benefits for the company to understand about consumer behaviour? Discuss
about the tools that company can use to understand about consumer behaviour.
Studying consumer behaviour is an important factor for marketers which will help
them to typically understand the expectations of the consumers. It is necessary for them
understand what is that will make the consumer to buy the products and services. When they
understand the reason for customer behind buying their products and services they can easily
access to products and services and release it in the market. Consumer behaviour is an
effective strategy which will help the marketers to build their marketing strategy. Once they
are known about consumer behaviour and the ways in which they can attract the consumer
they can develop marketing strategies in such a way (Goryushkina and et.al., 2016).
Consumer behaviour study is an effective way for marketers to make sure that their potential
customers are buying their products and services. It will help in successfully setting up
market for their products and services and also attract customers towards them. This can also
result in increasing their market share by attracting the customers of competitors.
There are a number of different tools which can be used by company in order to
understand about the consumer behaviour. It is required that companies are anticipating the
needs and desires of customers. They can successfully discovered the point of engagement as
well as the point of friction in the shopping process of a customer. It is necessary for them to
understand what is attracting the customer most and what can result in taking the customer
away. In order to improve the retail experience it is necessary for them to measure and
respond to shoppers mentality. Reading about past purchases of customer is another way and
a great tool to understand consumers behaviour. Once the marketer clearly understands the
buying pattern of a customer and their old purchases they may easily use it to understand
consumer’s behaviour.
Question 4
Define the term “target market”, and suggest a potential target market for new ‘Amazing
Thai”

A target market in a business means the group of customers within a business who are
in the serviceable available market. These are the customers for which the business is aiming
and making marketing efforts and using their resources. Target market is basically a part of
the total market for which the product and service is drawn. The target market basically
consists of consumers who have similar characteristics (Kotler, 2019). These characteristics
can be age, location, income or even lifestyle. It is necessary that business is providing
market offerings which will be profitable for the segments and also bring business for the
organisation. After the identification of target markets it is the duty of businesses to tailor all
the marketing mix according to needs and expectations of the customers in the target market.
It is necessary for them to carry out consumer research in order to understand the insight and
the behaviour of customers. They will also understand the motivators for customers and
purchase habits using certain patterns. When taking the Thai noodles amazing Thai into
context the target market for the company will be the consumers ranging between the age of
12 to 25. This will include the youngsters who are into eating fast food. The customers who
are specifically Asian will form the major target markets for this noodles. The flavour of
these noodles will specifically attract these customers and the company will make their
marketing strategies in such a way which will attract the targeted customers. Social media
and online marketing is the best way to attract the customers who are ranging between this
age.
Question 5
What is Zara’s product strategy? How did Zara take over the industry using “fast fashion”?
Zara is affectively working on a strategy in order to achieve growth through
diversification as well as vertical integration. It is adopting couture designs, manufacturing
and distributing the retail clothes within just two weeks of original design which have been
first appeared on catwalks. They are successfully contrasting and creating products within a
month which would take six months for any other brand in the fashion industry. They are
using just-in-time production which helps them deliver and cater the need of number of
customers in limited time period (Park, 2020). They are significantly relying on their
production in house and making sure that they have reserve in their own factory for enough
capacity. Their in-house production is also very flexible which allows them to change the
amount and frequency and also variety of products according to their launch dates. Zara is
heavily dependent upon sophisticated fabric sourcing, sewing facilities and cutting.

The time for launch of Zara was perfect and an unique approach was used which
helped to give the brand a kick start. They gained brand popularity very small. It is seen that
Zara is developing new designs of big brands in affordable prices. Also the time they are
taking to copy their products is very brief which helps them to eliminate the need for discount
sales. Also the customers at Zara are frequently visiting and they are quickly buying clothes
before their favorite designs are sold out. Model which is used by Zara is also known as fast
fashion because they have redefined the fashion industry. The company has successfully
opened a number of stores throughout the globe (Grant, 2019). They do not need much time
to copy the designs. A normal brand might take six months to bring a sketch into actual
clothing peace and Zara only takes four weeks to do so. This proves that the strategy of fast
fashion used by Zara is a great way to set out the brand value in the market.
Question 6
You work as a sales representative in a company that manufactures surgical equipment.
Before calling on an important prospect, you decide to search the Internet and find out details
about her/him. What step in the selling process is being carried out here? What is the
importance of this step?
The following process in which sales representative looks into important prospect
before calling its call prospecting. It is necessary in selling process for the salesperson to
understand the details about the potential prospect. It is necessary for them to understand
their behaviour and look into various aspects before preparing the sales pitch. Important to
research about the prospect before talking to them or giving them to sales page as it will
allow the sales person to understand your needs and also understand consumer behaviour
(Hua, 2019). The photos steps of sales will be related to disturb where the salesperson tries to
know more about potential prospect. This will guide the further steps and sales process and
also the ways to persuade the customer. There are a number of different ways and attributes
to attract different customers. With the help of the following research about prospect the sales
representative can easily come to know about various strength and weaknesses of customers.
They can also use their previous buying patterns to enhance their sales pitch. It is necessary
to look into history of customer in order to understand what will be their requirement in
future. To persuade customer it is necessary to show me product and mould it in a way that
they need.

REFERENCES
Books and Journals
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
Deepak, R.K.A. and Jeyakumar, S., 2019. Marketing management. Educreation Publishing.
Goryushkina, N.Y. and et. al., 2016. Marketing management in the sphere of hotel and tourist
services. International Review of Management and Marketing, 6(6S).
Grant, D.B., 2019. Outsourcing integration and third party logistics services: An appreciation
of two ‘classic’articles in industrial marketing management. Industrial Marketing
Management, 79, pp.21-26.
Hollensen, S., 2019. Marketing management: A relationship approach. Pearson Education.
Hua, H., 2019. Mobile marketing management: Case studies from successful practices. CRC
Press.
Kotler, P.T., 2019. Marketing management. Pearson UK.
Naudé, P. and Sutton-Brady, C., 2019. Relationships and networks as examined in Industrial
Marketing Management. Industrial Marketing Management, 79, pp.27-35.
Park, S., 2020. Marketing management (Vol. 3). Seohee Academy.