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Thread: MKT501 Marketing Management First Assignment Idea Solution fall 2010

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    Icon20 MKT501 Marketing Management First Assignment Idea Solution fall 2010

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    MKT501 Marketing Management First Assignment Idea Solution fall 2010
    1. What Competitive advantage of your organization can attract foreign customers?]

    Know Your Competitors
    Get information the other business firms involved in the same business and prepare your strategy accordingly

    Collect information about the targeted customers
    Customer’s information collection is the basis of analysis, which requires the collection method is scientific, accurate information, as detailed as possible. The first step is to organize customer information, according to the customer’s industry, size, demand
    characteristics and other customers will be divided into several groups. The second is to fill in a form by marketing staff, met to discuss the characteristics of other means to collect customer information, such as demand characteristics, organizational
    characteristics and so on. The third step is for some still unclear, select a representative survey of customers, asking. Collection activities to note are: the understanding of the situation must be objective, not by imagined to guess, to be accurately recorded and

    Product Differentiation
    Improve the product itself by adding features, improving reliability, etc. Branding: marketing to make the product appear different to consumers

    Product Advantages
    With a certain product or service capacity, product or service, although not particularly outstanding advantages, but also to meet customer needs and has a broad application of the market.
    Promote sales
    When you have equip your product with strong qualities keeping in mind the actual demand of customers go for promotional activities to sale the product internationally

    2) How do you evaluate the demand of foreign customers and satisfy

    Find the best customer groups
    Find the best customer groups and according to its demand characteristics, improve the product, change the focus, choose the best distribution channels and marketing opportunities; according to their organizational characteristics, different roles were
    persuaded to take a different strategy.

    The timing of customer consumption
    Different products or services at different times, the customers to buy time and frequency are different, only to find out its characteristics, can grasp the marketing initiative. Need to analyze: the customer what products or services on our time to buy? How long to buy one? A type of consumption of large customers?

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    Location of customer consumption
    Customers purchase and use of products or services have an appropriate place, usually
    used to find out where customers buy our products? What can be the best selling place?
    Where customers use our products? Whether our products can also be used to expand the space? Thus we can find the ideal sales channel and product applications.

    How to Satisfy?
    Provide product information to the customers
    Help to identify potential problem before it occurs
    Provide user friendly customer complaint registration
    Have prompt complaint handling system
    Provide fast back up service
    Provide quick correcting service
    Provide close mechanism on customer point of interaction
    Keep environment clean neat and fair

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