Question

“There is no luck. Only good marketing” Please provide your opinion about this statement. Please use examples and academic sources to support your discussion. - Discussion in 300 words - Use at least 2 examples to illustrate your discussion - Use at least2 academic sources to support your argument.

Answer 1

THERE IS NO LUCK. ONLY GOOD MARKETING. RIGHT... Marketing is considered as the most important activity in the present business. Without it, Business is meaningless. Quite often the success of the business is considered synonymous with the success of its marketing. Apart from becoming so crucial to a business, it is also helpful to the customer and the development of the economy as well as society. Over a period of time, businesses have realized various dimensions and significance of this function and a more comprehensive view is being adopted.

A firm should not attempt to serve all customers in the market, because there are too many customers in a market and whose requirements are different. Hence a firm should take into account its strengths and limitations to select the market(s) that it can serve most effective operational plans for marketing the product/ service in the selected markets. After identifying the segments next step is targeting, the identified segments are evaluated and compared, the greatest potentials are selected. Finally, firms plan to penetrate their target markets by determining the best positioning for their product offerings

EXAMPLE: Mc Donalds sell cheeseburgers in Australia to one segment of the market as low-calorie diet food. For want of refrigeration facilities, Lever Brothers introduced dehydrated vegetables in India, Pakistan, Thailand, and SouthKorea in the place frozen vegetables marketed in developed countries. Campell Soup Company modified its soup ingredients in Britain to cater local tastes.