Question

Introduction to business

Promotions are implemented with a discounted rate through all well-known outlets. These promotions influence

Customers to purchase more. They often take care of the timely improvements in the products and give comfort to the

customer and actively involved in societal functions.

In 2009, Victory Cotton became one of the leading textile manufacturers in the region and often tries to focus on the

improvements in various types of clothes.

The demand for the product exceeded the supply. There is continuous improvements have done in production and

distribution. Customers are happy with the fair price and quality. The designs are unique. The customer has various

choices at affordable prices.

The factors influencing the customers are comfortability, durability, color, design, availability of the size, nearby outlets,

and the price. As per customer survey designs are modified. Customer satisfaction and loyalty are the major focus of the

company. A large number of their profit is given for the welfare of society like education and to help the poor people.

From the survey it was showed the high-class people are much concerned about comfort, exact size and various

designs, new materials and styles and are not concerned about the price. Availability in nearest outlets was also their

concern while the middle-class people are more concerned about the durability, size, and minimum price.

Questions:

a) Explain the core marketing concepts with examples from the case study.

b) List out any three marketing mix with suitable examples from the case.

c) What are the marketing orientations or concepts are seen in the case? Explain any four.

Answer 1

Ques A)

CORE MARKETING CONCEPTS

1. The Production Concept :

Characterised by activities lowering cost and increasing the market size.

1. The Product Concept: Providing low priced quality products catering maximum peoples’ interests.

Eg : The customers are provided fair valued product and with a good quality. The customers have various choices

1. The Selling Concept:

Understanding of customer preferences and providing and fulfilling those needs and thus continuously selling products in market

Eg : Promotions are implemented, discounted rate provided through all well-known outlets, Providing nearest availability stores.

1. The Marketing Concept:

The concept states By creating value, delivering and communicating this superior value to customers and doing this better than the competitors, a company grows.

Customer satisfaction and loyalty a major area of interest for the company. This ensures repurchase of products.

Eg : company involved in timely improvement of products by constantly collecting information through surveys regarding customer requirements.

1. The Societal Marketing Concept :

The organisation needs to identify needs, interests and wants of the target market, delivering the products keeping the interest of society in mind.

Eg : The company gives large amount of profit for societal welfare for causes of education and helping the poor.

Ques B)

Marketing Mix in the case

1. Promotion : Promotions are implemented using a discounted rate.

2. Product : The designs are unique. The customer has various choices. Constant change in designs based on customer demands collected via surveys.

3. Place : High reach to customers with high availability of nearby outlets.

Ques C)

The core marketing concepts used in this case are the use of :

1.Societal Marketing Concept

2. Marketing Concept

3. Product Concept

4. Selling Concept.

These can be highlighted by social activities being indulged in by the company(Societal Marketing Concept), promotions being used(Marketing Concept), the product quality being kept constant & making specialised products according to the customer demands(Product Concept ) and lastly ensuring the supply of products to the customers via nearby stores thus increasing sales(Selling Concept).