Marketing Management Assignment: COVID-19, Lovemarks, and Strategies

This marketing management assignment explores various aspects of the field, beginning with the impact of COVID-19 on the retail industry and the importance of effective marketing strategies such as social media, content, search engine, and email marketing. It then delves into the concept of Lovemarks, discussing its elements and how businesses can build emotional connections with customers. The assignment further examines the benefits of understanding consumer behavior, including the use of tools like CCTV and purchase records, to identify customer needs. It also covers target market analysis, using Amazing Thai noodles as a case study, and analyzes Zara's product and fast-fashion strategies. Finally, it addresses the selling process, focusing on the importance of preparation or pre-approach for sales representatives, including researching clients to tailor presentations and meet customer needs effectively.

Marketing Management

Table of Contents
Question 1........................................................................................................................................1
Question 2........................................................................................................................................2
Question 3........................................................................................................................................3
Question 4........................................................................................................................................4
Question 5........................................................................................................................................4
Question 6........................................................................................................................................5

Question 1
Due to COVID 19 retail industry in majorly affected and due to these different issues and
problems that occur with in the organisation. It is essential that retail sector is considering right
and accurate strategies which are significant for providing effective functioning of business.
Marketing strategies will lead to have significant impact on successful and effective functioning
of business as well as providing right information to enhance business practices. Marketing
strategies can be describe as the action plan that is consider by organisation in order to increase
business practices as well as successfully enhance organisational practices in most effective
manner (Richards and Rickard, 2020). It is essential that companies that is dealing in retail sector
is considering effective marketing strategies that is useful for attracting large number of
customers. Retail sector is essential for enhancing GDP rates as well as economic of nation. It is
crucial for retail business to consider effective marketing strategies which will help in improving
the sales and profitability of business.
 Social media marketing – There are large number of people who are using social media
and this is effective marketing strategies that will be significant improving business.
Social media marketing is significant for providing information to customers about the
products and offering of business. This is significant strategy during COVID 19 as it
includes digital interaction between marketer and customer. Through this strategy retail
industry will be able to successfully and effective carry out marketing practices in most
significant manner.
 Content marketing – This is effective marketing strategy which has more emphasize on
education or information with the motive of influencing customer behaviour. In content
marketing strategy retail needs to develop high quality and creative content which is
significant for providing accurate information to customers. Through content marketing
strategy retail industry will be able to communicate with targeted customers and enhance
information about products. Content marketing is consider as effective strategy in order
to effective carry out inbound practices. This strategy will be helpful for retail industry
during COVID 19 pandemic.
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 Search engine marketing – This can be describe as the marketing strategy of business
that includes paid advertisement when it appears on search engines. This is very useful
marketing strategy for retailing companies as this will lead to increase the awareness
about brand and its products in market area. Search engines marketing strategy will have
optimum impact on increasing the traffic to business. Through this strategy, company will
be able to target the right audience and identify the response of the customers (Zuber and
Brüssow, 2020). Through this retail company will be able to successfully perform
marketing practices in more creative manner as well as gain competitive advantage over
other rival companies.
 Email marketing – This type of marketing strategy can be describe as the practices that
is conducted by company in order to provide information about offers to customers as
well as enhance communication. Through email marketing retail company will be able to
provide customized information to customers which is appropriate to the needs of
customers.
Question 2
Yes I do agree with the Kevin regrading the concept of lovemarks. Now a day it is
essential for companies to expand beyond brands in order to attract more customers as well as
enhance overall performance of business. SuperVUCA world includes volatility, uncertainty,
complexity and ambiguity. All of these are crucial aspects which needs to be consider by
organisation will offering its products and services to customers. The concept of lovemarks
explain about the constancy of human nature. Business have extraordinary opportunity in order
to make emotional connection with the customers. This will be significant for enhancing
relationship with customers. Strong connection or connect with customers will help in improving
the level of customers loyalty (Banerjee and Gandhi, 2016). This the concept of lovemarks I
agree that tapping deep into human emotions will increase the opportunities for business as they
will be able to understand and determine the needs of customers. It has been analysed through
the concept of Lovemarks that greatest connection between business and customers can be
developed on Love. It is essential for business to consider different elements of Lovemarks in
orders successfully and effectively enhance business practices. The three secret of lovemarks are
mystery, sensuality and intimacy. Business needs to create mystery through great stories,
inspirations, tapping in dreams and past present future. Sensuality includes sounds, scent, touch,
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taste and sight which should be consider by organisation for attracting customers. It is important
the business consider the concept of intimacy such as commitment, passion and empathy in order
to increase the level of connect with customers (Gallio, 2016). There are different aspects which
needs to be consider by creative leader in order to attract more customers and increase business
practices. This includes change in language as per the customer preferences and focus on small
idea not only on big ideas. This will lead to increase loyalty of customers and improve business.
Question 3
What are the benefits for the company to understand about consumer behaviour?
It is essential for organisation to correctly understand the behaviour of customer as it will
lead to have major impact on success and growth of business. By understanding customer
behaviour company will able to determine the need and want of customers. This will be
significant for organisation to provide products which is useful for customers (Shaikh and
Karjaluoto, 2018). This will help in increasing the chances that customers will purchase more
products and improve the sales. Understand of customers behaviour is essential for improving the
level of customer satisfaction. This will help in brining customer back with in the company. This
will be beneficial for enhancing sales and profitability of business as well as gaining competitive
advantage over other rival companies (Sangroya and Nayak, 2017). Customer behaviour
understanding is beneficial for increasing loyal customers of business which is effective for
improving the sales and profitability of business.
Tools that company can use to understand about consumer behaviour.
There are different tools and approaches which can be consider by business in order to
understand the behaviour of customers (De Veirman, Hudders and Nelson, 2019). These tools
will assist organisation to correctly examine the customers needs along with their purchase
needs. Different tools which can be consider by business are mention below -
 CCTV camera is significant tool for watching customers as this is helpful in keeping
track of customers as well as their purchasing pattern. By watching customer it is easy for
business to understand customers behaviour.
 Analysing purchase record of customers will assist in identifying the need of customer.
Through this business will be able to determine the needs of potential customers (Bragg
and et.al., 2018).
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 Display of products is effective tool which will have impact on identify or understanding
the behaviour of customers.
Question 4
Target market can be describe as the group of people that is significant for company to
provide its products and customers. This includes the particular group of individual which is
aimed by company for offering its products and services (Ivanov, Tsipoulanidis and
Schönberger, 2019). Target market consider of potential customer that is capable for purchasing
the products and offering of customers. It is essential for organisation to identify the right target
market in order to increase sales and profitability of products. Target market will directly
influence the marketing efforts of company as well as significantly affect on actual performance
of business.
Target market for Amazing Thai noodles are people who like to prefer Thai food.
Potential target market of this product will be children, adult and old people. Amazing Thai food
target market includes people of above age 10 who like to taste different types of noodle
flavours. Business that is launching high Amazing Thai food is offering its products and services
to different part of the world with the motive of attracting large number of customers towards
business. Local market of Thailand can be consider as potential target market as it will include
large number of people who like Amazing Thai noodles. This noodles taste very delicious as
well as includes the Thai ingredient (Mata, 2017). This will be effective for attracting Thai
customers as well as individual who like to try Thai food. Amazing Thai noodle target
customers includes people of average income group as organisation is offering its products to
affordable prices.
Question 5
What is Zara’s product strategy?
Zara's company is considering effective product strategy which is significant for
attracting more customers as well as sales its manufactured products. Respective company is
developing high quality products and services that is significant for attracting large number of
customers towards business as well as increasing sales of products. Zara's product is accurate as
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per the market trend . This organisation includes the strategy of conducting market research
which will help in collecting accurate information about needs of customers. Through this
strategy respective organisation is able to manufacture product which is accurate as per the needs
and wants of customers. Zara's product strategy includes affordable prices for its product that is
helpful in influencing and attracting more customers. Affordable price of high quality products is
effective for increasing the loyalty of customers towards the business.
How did Zara take over the industry using “fast fashion”?
Zara company has developed strong and effective strategies in order to enhance business
activities. The strategies of Zara can be consider as the major reason for taking over the industry
of fast fashion. This company has developed strong relationship with it customers that is
significant for increasing the loyalty of customers with the business. Loyalty of customers with
Zara is useful for bring customer back with business as well as increasing its sales. Zara
company has taken advantage of social media. This is creative and unique approach for
marketing and advertising Zara products to large number of customers. Through this strategy
respective company is able to put its new collection to different sites with the motive of attracting
more customers. Word of mouth is the marketing strategy that is consider by organisation with
the motive of successfully and effectively conducting business practices. Word of mouth and
social media is cost effective marketing strategy that will help in enhancing the profits and
revenues of the business. Zara company has consider the actual need and demand of customer
while providing fashionable products. This lead to have great impact on effective functioning as
well as take over the industry.
Question 6
What step in the selling process is being carried out here?
In this, preparation or pre approach is being carried out. This is consider as the second
step of selling process and in this step sales person will research about the client (Zhang, Meng
and Zeng, 2016). In this situation the sales representation of organisation that is developing
surgical equipment is searching over internet before calling on an important prospect. This step is
done by sales representative in order to identify the actual need and want of customers so that
sales person can successfully meet with the need and want of customers. In this step of selling
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process, sales person will do their homework by researching about the customers and analysing
what they will say to customers in order to influenced them. This is important step of selling
process in order to successfully make the deal with customer.
What is the importance of this step?
It is important for a company to conduct preparation or pre approach because through that
they able to gather information about their customers which help in conducting planning so that
they retain with firm for long time duration (Maliva, 2018). This will also help a company in
developing familiar relationship with customers' by understanding their need and developing
products accordingly. In addition to this respective company which is selling surgical equipment
able to develop attractive sales presentation that they will tailor in front of potential customers or
clients according to the requirement. Moreover, by conducting respective steps in proper way
company able to grow sales by attracting more customers.
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REFERENCES
Books and Journals
Richards, T.J. and Rickard, B., 2020. COVID‐19 impact on fruit and vegetable
markets. Canadian Journal of Agricultural Economics/Revue canadienne
d'agroeconomie.
Zuber, S. and Brüssow, H., 2020. COVID 19: challenges for virologists in the food
industry. Microbial biotechnology.
Banerjee, S. and Gandhi, N., 2016. An Empirical Study of the Lovemark's Brand Love Theory in
India's Luxury Apparel Fashion Market Among Youths. International Journal of
Business Insights and Transformation, 10(1), pp.19-31.
Gallio, N., 2016. The Immersive Marketing Campaign for X-Men: Days of Future Past. The X-
Men Films: A Cultural Analysis, p.17.
Shaikh, A.A. and Karjaluoto, H. eds., 2018. Marketing and mobile financial services: a global
perspective on digital banking consumer behaviour. Routledge.
Sangroya, D. and Nayak, J.K., 2017. Factors influencing buying behaviour of green energy
consumer. Journal of Cleaner Production, 151, pp.393-405.
De Veirman, M., Hudders, L. and Nelson, M.R., 2019. What is influencer marketing and how
does it target children? A review and direction for future research. Frontiers in
Psychology, 10, p.2685.
Bragg, M.A. and et.al., 2018. Marketing food and beverages to youth through sports. Journal of
Adolescent Health, 62(1), pp.5-13.
Ivanov, D., Tsipoulanidis, A. and Schönberger, J., 2019. Operations and Supply Chain Strategy.
In Global Supply Chain and Operations Management (pp. 81-110). Springer, Cham.
Mata, M.D.P., 2017. A typology of fashion consumers based on motivations to interact with
brands in social media: the ZARA case (Doctoral dissertation).
Zhang, X., Meng, H. and Zeng, Y., 2016. Optimal investment and reinsurance strategies for
insurers with generalized mean–variance premium principle and no-short
selling. Insurance: Mathematics and Economics, 67, pp.125-132.
Maliva, N., 2018. Vendors Strategies and Personal Selling Models in Tourism Markets: A Case
of Women Vendors in Zanzibar.
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