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MKT501 GDB 1 Solution Spring 2022

MKT501 GDB 1 Solution Spring 2022: What kind of weightage should be given to organizations, customers, and society.  Marketing should be carried out on well-thought-out philosophy of efficient, effective, and socially responsible marketing. There are five competing concepts of philosophies to conduct marketing activities.

IMPORTANT INSTRUCTIONS:

  1. Your discussion must be based on logical facts. It must be precise and unnecessary details must be avoided.
  2. Use the font style Times New Roman and font size 12.
  3. Your answer should be relevant to the topic i.e. clear and concise.
  4. You should post your answer on the Graded Discussion Board (GDB), not on the Moderated Discussion Board (MDB). Both will run parallel to each other during the time specified above. Therefore, due care will be needed.

Scenario

Suppose there are 5 companies A, B, C, D and E. Company A focuses on marketing approach as well as considers and includes factors like environmental deterioration, resource shortage, explosive population growth, poverty, hunger etc. while formulating its business philosophy. It aims to deliver satisfaction more effectively and efficiently. Mangers of Company B concentrates on achieving high production efficiency, lower costs and mass distribution. It assume that consumers are only interested in product availability and low prices. Company C believes that the key to organizational goals consists of company being more effective than competitors in creating, delivering and communicating consumer value to the chosen target. It gives preference to customers’ wants. Company D works on the belief that consumers will favor that product, which offers most quality performance and innovative features. Whereas, Company E emphasizes on aggressive selling and high promotional back up.

Identify the concept/philosophy followed by (only name the concept/philosophy- no unnecessary details):

  • Company A :
  • Company B :
  • Company C :
  • Company D :
  • Company E :

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