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Thread: MKT501 Marketing Management Assignment No.1 Solution Fall Semester 2012

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    Icon51 MKT501 Marketing Management Assignment No.1 Solution Fall Semester 2012

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    MKT501 Marketing Management Assignment No.1 Solution Fall Semester 2012

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    TOPIC: Marketing Strategies – Market Dominance Strategies
    Learning Objectives
    To make students understand the concept of Market Dominance Strategies more clearly and apply it in real life situation
    An organization’s vision defines its standings. Marketer must decide beforehand about the position he wants his company to retain in the market. Four strategies can be followed with respect to market dominance.
    1. Market Leader is the one who dominates the market with highest market share, while market share can be defined in terms of portion of revenue, profits, customer base etc. occupied by a company.
    2. Market Challenger is the 2nd most prominent player in the market that continuously challenges the market leader and sometimes even switches position with it if the competition is close.
    3. Market Follower, actually, follows market leader and challenger and not very active in competition.
    4. Market Nicher, on the other hand, runs its own race. He finds those markets that are neglected by all the three above and mostly serves customized products and services to its customers.
    Marketing Mix is the set of tools that are used to satisfy customers’ needs in the best possible way. It is based one four major elements i.e. Product, Price, Place, Promotion.
    Background
    Print media which Pakistan inherited started in 1939 with the foundation of Jang newspaper as the oldest Urdu newspaper of Pakistan. While Dawn was the first English newspaper, that was founded by Quaid-e-Azam Muhammad Ali Jinnah in 1941. This industry evolved with the time and many newspapers were launched afterwards. In current scenario, print media market is saturated with a large number of newspapers that has reached to more than 1400 newspapers published in all languages with 60 major newspapers published from all cities (include both morning and evening issues).
    The situation
    Being the oldest, Jang media group has a well-established name. Daily Jang is playing the leading role
    with highest readership and circulation. It has a daily circulation of more than 800,000 copies. Jang
    media group has its presence in electronic media too. Geo news is the most widely watched private TV
    channel in Pakistan. It has 27% viewership that is highest amongst all 17 news channels working in
    Pakistan.
    Dunya News was started on December 1st, 2008. At the beginning, channel was established as follower
    to leading channel Geo News but at later stage, certain unique programs were initiated that made their
    place and got popular in the viewers, even Geo had to follow Dunya to some extent and came up with
    related programs. That is how; Dunya TV had moved itself from the position of Market Follower to
    Market Challenger. In just three years, it has showed rapid growth and acquired the 2nd position in its
    category with 16% viewership and still growing.
    To enhance its presence in media world, it has now entered in print media with the name of “Daily
    Dunya”. Test launch has been completed in Lahore, Faisalabad and Sargodha, and it is heading towards
    commercial launching in all over the country.
    Questions:
    1. What strategies Daily Dunya should adopt to become Market Challenger in print media too?
    2. What strategies should be adopted by Jang and other leading newspapers to counter this new
    development in the market?
    Learning Outcomes:
    Upon completing this assignment students will be able to:
     Analyze how market structures impact the behavior of firms
     Identify and compare counter competitive strategies that firms must adopt under various market
    structures
     Understand strategic behavior of firms in the market
     Determine the factors that influence firm’s decision making over time
    24 hours extra / grace period after the due date is usually available to overcome uploading
    difficulties. This extra time should only be used to meet the emergencies and above
    mentioned due dates should always be treated as final to avoid any inconvenience.
    DEADLINE:
     Make sure to upload the solution file before the due date on VULMS.
     Any submission made via email after the due date will not be accepted.
    FORMATTING GUIDELINES:
     Use the font style “Times New Roman” or “Arial” and font size “12”.
     It is advised to compose your document in MS-Word format.
     You may also compose your assignment in Open Office format.
     Use black and blue font colors only.
    REFERENCING GuIDELINES:
     Use APA style for referencing and citation. For guidance search “APA reference style” in Google and read various website containing information for better understanding or visit APA REFERENCE STYLE: Table of Contents
    RULES FOR MARKING
    Please note that your assignment will not be graded or graded as Zero (0), if:
     It is submitted after the due date.
     The file you uploaded does not open or is corrupt.
     It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.
     It is cheated or copied from other students, internet, books, journals etc.
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