assignment 1abcd

7/30/2019 Assignment 1abcd

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Students name: Nguyen Hoang Loc- Anderson.

Compare the various definitions about what exactly marketing is:Marketing consists of individual and organizational activities that facilitate and expedite

satisfying exchange relationships in a dynamic environment through the production,

place of distribution, promotion and pricing of goods, services and ideas.

- Marketing is the management of exchange relationships.

This emphasizes the role of marketing in relating to the world outside the organization.

All relationship between the organization and the outside world need to be managed.

There are many relationships that the company should have in order to advertisement,

selling and promotion the products. First, the company should create a good relationship

with customers who will provide them not only feedback but also information in order to

develop the new product and meet the satisfaction of customers. Moreover, when the

company has good relationship customers, this will maintain old customers and attract

many new customers. For the reason that, if customers feel satisfaction and happy with

the product of company, they will introduce and share the product to their friends and

family, this leads the company will have a large number of customers and, develop the

image and reputation. In addition, the product will be advertised to many people and

improve the consumption. Especially, this way is free but receives a good efficiently and

also helps the company save the money in order to spend for investing or other purposes.

Second, suppliers are individuals or businesses that provide goods or services to

customers and market. Therefore, having a good relationship with suppliers is essential to

the company. The suppliers can discount the material for the company or they will supply

a high quality material and the company will be the first customer who will receive the

material first. Moreover, with long and good relationship, the suppliers can trust company

and sell the material without money immediately. Third, intermediary is a business firmthat operates between producers and consumers or business users, also called a

middleman. Intermediaries are considered as the face of the company because they

provide and sell product to customers. Furthermore, the advantages of using

intermediaries are market coverage, customer contacts, lower costs, systematic cash flow,

distribute products etc. The intermediary adds value to the marketing of the product by


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bringing in specialization, marketing knowledge, capacity to segment the market, and

selling skills that allow the marketer to implement marketing strategies effectively.

Fourth, with competitors, the firm should have a good relationship in order to control the

price and distribution of products. Moreover, the company can learn what their

competitors are developing or improving for future product releases in order to gain a

tremendous advantage and develop the products. For example, a software developer may

know what products his competitors are selling, but it would be useful for him to know

that one competitor is marketing products touted as the "easiest to use" in the market. The

developer could counter this marketing tactic by revamping his own software's user

interfaces and giving out free trials to prove his products are actually more user-friendly.

For governments, the company can receive preferences from the governments such as

reducing tax policy or supporting the capital for company if they have a good relationship

with government. Furthermore, the company will be easier to invest in the buildings or

sign a contract with government. Last but not least, interest groups are also vital to the

company, therefore, having a good relationship with them will bring many benefits. For

instance, if the company has a good relationship with interest groups, they will easy to

create a center of attention investment from the interest groups in order to expand the

capital. In addition, they can decrease the interest if they have a long relationship with

interest groups.

- Marketing is the management process which identifies, anticipates and supplies

customer requirements efficiently and profitably. (Chartered Institute of Marketing).

This definition emphasizes the wide scope of marketing, ranging from initial

identification of customer needs by means of research, right through to eventual

profitable satisfaction of those needs. That means the company need to focus on what

customer needs and wants, they need to provide good services encompasses selling,

researching markets and attracting and retaining customers in the short time ,if not

competitors will do it, in order to meet the efficiently and profitably and receive

satisfaction of customers.


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- Marketing concerned with meeting business objectives by providing customer

satisfactions. This definition is important because it stresses the importance of the

customer and more particular, customer satisfaction. When people buy products or

services they do not simply want the products, they also want the benefits from using the

products on services. Products and services help to solve a customers problems. It is the

solution these problems that customers are buying. That means the company focuses on

high quality products and good customer services not only for the short time but also for

the long time to meet the customer satisfactions and receive higher profit. Moreover,

when the customers who feel happier, they will buy products again and again and share

the satisfaction with their friends. It leads the profit and sells to be increased by large

number customers who trust and faithful companys products.

- Marketing is the process of planning and executing the conception, pricing,

promotion and distribution of ideas, goods, and services to create exchanges that satisfy

individual and organizational goals. This definition expands on the previous one and

considers what is involved marketing to satisfy both the customer and company. These

definitions serve to demonstrate distinctions between marketing as a thing that is done

and marketing as an approach to how something is achieved. It has also been criticized

for failing to take account of the increasing role of marketing in a broader social context,

and for appearing to regard consumers as being passive in the process. The main purpose

is the mutual satisfaction of both supplier and customer. In addition, the method is the

process of shaping and managing the marketing mix in a way which takes into

consideration the needs of the customer and the goals of the organization at one and the

same time. The company applies 4Ps: productions, pricing, promotion and place of

distribution. These are the four principles of a product which should lay the foundations

for the launch and the growth of a product.


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Identify the main characteristics of a marketing orientated organization for yourorganization

- Extensive use of marketing research:

It is obvious that before produce a new product or expand market size, every company

has to extensive use of marketing research. There are many different ways such as:

survey, questionnaire, interview, customer hotline, beta testing, focus group the market

researches aim to understand what customer needs and wants? how customer expects in

company product? how the differences in taste, fragment among different areas? which

price is suitable to customer pocket? . From that, company can make right decision and

invest well. Finally, a company manufactures products and provides them to consumers.

This step is very essential, because if the company done it and made it carefully,

company will success and have profit. If the company does not extend using ofmarketing research, they must be failing even bankrupted. For Nestl, they had already

extensive use of marketing research. They understand what their customer needs and

wants in these products, how many products that will be enough and how much money

their customers can pay for them. Furthermore, they must have suitable strategies because

they need to understand the market in Vietnam and receive more information, more

feedbacks. They also need to research about the competitors and the price of soft drink in

Vietnam so that they can easy to provide the best production for customers and can

compete with competitors. Moreover, they should find out the way that how to customers

will be received the information of their production.

- Broad product line:


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It can be easy to understand that the company should provide more specific products,

more choices for customers. The products be designed in different sizes and colors, or the

product itself can be altered to appeal to different personality types or age groups.

Producers can also change the warranty or durability of the good or provide different

levels of follow-up service. Other influences, such as distribution and sales methods,

licensing strategies, and advertising media also play an important role. If customers have

many choices in a company, the company will sell more and more. Moreover, the

company should not produce only one product, they should develop many other products

based on the basis product; all of them will combine to become a product line in order to

make profit, expand the market, distribute in many different regions and offer the specific

customers who the company wants to maintain. The reason is that a customer does not

have just one or two requirements. The demand develops more and more follow the

times. If the company cannot develop these products, they will receive lower and lower

profits even bankrupted. Nestl has already applied broad product line. They understand

the demand of customers; therefore, they have provided many various size and flavor for

these products. For example, Chuckie is packed with 110mL, 250mL and 1L and there

are many different kinds of chocolate drink such as Choco Swirl Ice Cream Cup 100mL,

Choco Swirl Ice Lolly 70mL or Wacky Dio Ice Lolly 75 mL. With the various types of

size, Nestl are providing a large number of choices for customers.

- Emphasis on products benefits to customers rather than on product attributes.

Products benefit that means what the customer values and pays money for. It might

come in the form of cost savings, revenue, timesaving, ease of use, etc. To receive more

profit, the company need to sell the benefits not features, not attributes that means they

provide the benefits of products for customers, what customer wants not for what

customer needs. Furthermore, the company should identify the specific target such as

what is customer wants ? which price is suitable to customer pocket ? which makes

customer satisfaction ? or they need to do something different from others, to provide

perfect products. This is a reason that why Nestl is the world's leading nutrition, health

and wellness company. Their mission of "Good Food, Good Life" is to provide


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consumers with the best tasting, most nutritious choices in a wide range of food and

beverage categories and eating occasions, from morning to night. Moreover, they not

only are attempting adding more and more chocolate but also always provide more

nutrition into these products. For instance, Chuckie is packed with 278g of calcium, such

that 2 packs of Chuckie answer 100% of child's daily calcium requirements. It means

Nestl always do the best things for customers in order to meeting the customer

satisfaction.

- Use of product innovation techniques.

Nowadays, technology is changing everyday in the world. Without model technology, the

company cannot develop or meet the efficiently and profitably. For most companies,

product development has meant line extensions, improvements, and product

modifications, and only serves to maintain market share. Furthermore, markets aren't

growing, so firms increasingly compete for market by introducing one insignificant new

product after another. Consequently, they need to apply the innovation techniques in

order to improvement product sales, saving time, reducing manufacturing costs,

marketing, and distribution, producing and recycling. With innovation and modern

techniques, company can provide a good product which is high quality and lower price in

the short time to meet the demands of customers. Moreover, the effect on environment

will be decreased by using innovation techniques such as saving energy, waste reduction,

etc.

- The offering of ancillary services like credit availability, delivery, installation,

and warranty.

The company also needs to offer of ancillary services like availability, delivery,

installation and warranty because customer is very important to the company and without

customers they will not have a business. Therefore, they must meet the satisfaction of


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Pricing is the process of determining what a company will receive in exchange for its

products. Pricing is an important strategic issue because it is related to products.

Furthermore, pricing affects other elements such as product features and promotion.

Therefore, before launching a new product, company should be secured on how much

money they intend to make from a product, how much they can sell, how much they

spend for promotion and advertisement and what market share will get in relation to

competitors. In addition, they need to identify or research what the prices of similar

products in the market are to provide good products and compete with other

competitors.

3. Promotion:Another one of the 4P's is 'promotion. This includes all of the tools available to the

marketer for marketing communication. Promotion tends to be thought of as being all

promotions apart from advertising, personal selling, and public relations, public

relations (PR). The company should determine how they intend to promote their

products such as through newsletters, TV advertisements, Radio advertisements or

Internet, etc. Providing good promotion bring many benefits to company, for

example, increasing sells or attracting customers or transmitting information in order

to gain a response from the target market.

4. Place of distribution:Place is also known as channel, distribution, or intermediary. It is the mechanism

through which goods and services are moved from the manufacturer or service

provider to the user or consumer. It involves not only how the company make the

sale, but how they distribution system. The firm needs a well-thought-out plan for

conducting the sale and distributing or delivering its product to the customers. They

also must find out how they intend to distribute the products such as through mass

supermarkets, concept stores, small stores or retailers, wholesalers in order to

distribute to all companys customers and expand the market. This helps company

improve and increase sells to get more profits.


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Identify and assess the benefits and costs of using a marketing approach to doing businessin Vietnam.

- Benefits:

o Customer retentions or loyalty. The customer is the basic reasonfor the existence of any business since without customers, without

business. Each customer who deals with an organization should

leave with a feeling satisfaction. This outcome is important since it

can lead to increased sales and a willingness to pay higher prices

and thus lead to higher profit. Furthermore, when customers are

satisfied and happy they will buy again and more of the same item

from the supplier. They also introduce or advise their friends and

family to buy from the supplier. With customer loyalty, the cost of

maintain them is low and there is a lower risk of dissatisfaction

when buying a new products.

o Long term relationship with customers. It is the same withcustomer loyalty. If the company creates a long term relationship

with customers they will get more profit because when customers

feel happier and satisfied with its services, products they will buy

again and again.

o Customer satisfaction. It is the only route to long-term sustainablecompetitive advantages. It is the similar with customer loyalty

which had discussed above.

o Profit. It is valued for consumption products as well as customersatisfaction. Based on that the company will decide should

continue provide these products or need to improve more.

o Long term goals. Helping companies have the right decisions aboutthe direction and focus on strategy in development, customer, and

product. The company should focus on long term impact on

customer loyalty as well as profit, sales and market share.


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o Lower cost of finding new customers or promotion. Therecognition that keeping existing customers happy is cheaper than

acquiring new ones.

o Word of mouth. This is the most frequency benefit and the cost forit is free. It is very powerful, just amazing like that if one customer

feel satisfied, he/she will tell to his/her friends and if his/her

friends also feel satisfied with companys products they will

continue tell to their friends. And the company will have a large

number of customers.

o Customer care. It emphasizes the importance of attitude and coversany aspect of organizations relationship with its customers. It aims

to close the gap between customers expectations and their

experience.

o Price less sensitivity. Even though the cost is a little expensive butthe customers will realize that they get value for money. They will

give their trust to the firm offering a high quality goods that is

value with the amount customer spend.

o Customer trusto Reputation: Introduction Companys image to customers. Its

purpose provides information and advertises these products for the

customers.

- Costs

o Cost of marketing researcho Cost of innovation techniqueso Cost of ancillary serviceso Cost of product innovation techniqueso Cost of finding new customers or retaining customerso Cost of customer care.

assignment 1abcd

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