MGT 211 GDB SOLUTION 1 2022

 Student's Message:

Describe precisely as how the food chain should respond to the market research findings in the following choices:?

a.Selection of Cities

For Selection of cities We have to Found the Exact Location Keeping in Mind the following Points which are most beneficial for a business.

the area in which we are going to open is relevent to markete Size, Markete Demographics,Major Industrial Supplies,Taste of people and their Priorities.

 

b.Selection of media for advertisement

Sometimes entrepreneur need a better understanding of the aize of their market, their target customer and the best way to reach them.Market research can help by providing information about the  effectiveness of your marketing efforts.We have to take notice In which Marekte we are planing and what kind of Social Media Platforms users are available there.For Example,

If Instagaram/Facebook Users are Most due to the usage of Smart Phones, We will advertise it as a Mobile MArketing

If Locals prefer the Hoardings/Bill Boards we will advertise ourself as per the need.

If locals are on Youtube/Cable we will advertise it as per their Ease.

C.Decoration of sitting place

Successful entrepreneur use market research to keep up with trends, make better business , and maintain  their companies competitive edge. For Example,

If People are in Modern City, We will make interior Designing as per their Standars.

If People are average and Smart then We will make our Interior in Open Place with touch of Greenery items.

Sitting Chairs and Crockery were as per markete Standards,Demographics

d.Provision of Wifi

In this era,Smart Phones availabilty is common because it is the need of Every Consumer.Wifi makes a better Customer Satisfaction with no extra Budget requirement.Wifi Speed must be Fast because it is the basis priority of using any brands merchansts.

MGT 301 GDB Solution 1 2022

 

What Is a Marketing Mix?

A marketing mix includes multiple areas of focus as part of a comprehensive markeying plan The term often refers to a common classification that began as the 4 P''s product, price, placement, and promotion.It is a set of actions and tactics that a company uses to promote its brand or Services.

Understanding Marketing 4ps

Price;

We know that Interio brand is with the highy price and upper class Customers. So the price don''t Effect Such Customers because they want Purity and luxurious looks.So Price Rates Will also be high as per standards of the customers.

Product;

It is about the durability and qulaity of items that are using in the product that are being Sold.In Our Interio Case customer is of Upper Class If he is paying a well balanced amount then he will not compromise on the Qulaity of the product because it is the basic right of the customer.

Promotion;

In Business It is the basic Ethics,if people will know more about the Services and Products Qulaity , then references will be generates with promotions and more buiness oppurtunities will be rised.It is the Era of Digital Marketing, by using it we can send our brand popularity very fast to each and every consumer.

Place;

Eye catching point is main bone of the customer, Where physical involvement is more effective for customer satisfaction.Markete Competition is increasing day by day so our location should be Eye Catching so that brand value and customer Satisfaction Should be achieved timely.