SUBMITTED BY:

MAYANK SINGHAL
ROLL NO. 34

EXERCISE-1

CONSUMER REASEARCH

Consumer Research is a part of market research in which the preferences, motivations,

and buying behavior of the targeted customer are identified through direct observation, mail
surveys, telephone or face to face interviews, and from published sources (such as
demographic data).

SEGMENTATION, TARGETING, AND POSITIONING

1. The focus of the marketing concept is consumer needs

2. The marketer must adapt the image of its product so that each market segment perceives
the product as better fulfilling its specific needs than competitive products.

a) The three elements of this strategic framework are: market segmentation,

targeting, and positioning.

3. Market segmentation is the process of dividing a market into subsets of consumers with
common needs or characteristics.

4. Market targeting is the selection of one or more of the segments identified for the company
to pursue.

5. Positioning refers to the development of a distinct image for the product or service in the
mind of the consumer, an image that will differentiate the offering from competing ones and
squarely communicate to the target audience that the particular product or service will fulfil
their needs better than competing brands.

a) Successful positioning centres around two key principles:

i) The first principle says that the marketer should communicate the benefits
that the product will provide rather than the product’s features.

ii) The second principle states that because there are many similar products in
almost any marketplace, an effective positioning strategy must develop and
communicate a “unique selling Proposition”—a distinct benefit or point of
difference—for the product or service.
THE MARKETING MIX
1. The marketing mix consists of a company’s service and/or product offerings to consumers
and the methods and tools it selects to accomplish the exchange.

2. Four basic elements (known as the four Ps) include:

a) The product—features, designs, brands, packaging, etc.

b) The price—list price (including discounts, allowances, and payment methods)

c) The place—distribution of the product or service

d) Promotion—advertising, sales promotion, public relations, and sales efforts designed to

build awareness of and demand for the product or service

EXERCISE 2
1. My response would be that we cannot give you high quality products in very cheaper
rates, which other companies are doing. They only give you the low quality products
in cheaper rates. We are trying to reduce our costs, after that only we can give you
our products in reasonable rates.

2. I will tell the consumers that we are constantly strive to reduce our costs in order to
maintain reasonable prices. We are responsible for our consumers, employees and for
all the communities. We are also responsible for our stockholders. We care for all.