University of Gwadar

Knowledge | Wisdom | Service

Assignment no 2
Assignment submitted by:

Saboor Naseer

Course instructor:

Sir Dilawar Kham

Reg No. 011

Course: Marketing Management

Department of Management science

Program: BBA

Session: 2022-2025

Email: [email protected]
 1. How can we spot and choose the right market segment(s)?
To find the best group of people to sell your stuff to, you first have to know who they are and what they
like. You can figure this out by talking to them in different ways, like asking questions in surveys, having
group talks, or having one-on-one chats. You can also look at numbers and information to group people
by their age, where they live, what they like, and what they do.
After you've done all this looking and talking, you'll have a bunch of groups of people. But not all of them
will really like what you're selling. So, you have to pick the groups that are most likely to really want
your stuff. That way, you can focus on them and make them happy.
For example: A clothing retailer might segment their market by age, gender, and lifestyle. They might
target young adults who are interested in fashion, or families who are looking for affordable clothing.
A car manufacturer might segment their market by income, family size, and location. They might target
high-income families who live in urban areas, or young professionals who live in suburban areas.

2. How can we differentiate our offerings?

To set your product or service apart from all the other similar things out there, you have to find ways to
make it unique and memorable. This is what we call "differentiating" your offerings. It's like giving your
product or service its own special personality in the marketplace.
One way to do this is by offering something that's one-of-a-kind. Maybe you have a feature or benefit that
no one else can provide. This uniqueness can be a powerful draw for customers who are looking for
something special. Another strategy is to focus on providing exceptional customer service. You can create
an experience for your customers that goes beyond just the product itself. When people feel valued and
well taken care of, they are more likely to choose your brand over others.
For example: A restaurant might differentiate their offerings by offering a unique menu, or by providing a
more upscale dining experience.
A hotel might differentiate their offerings by offering a spa, or by having a convenient location near
tourist attractions.

3. How should we respond to customers who buy on price?

When your customers are really careful about how much things cost, it's important to make sure that your
prices are similar to what other people are charging. This way, you can stay competitive and catch the
attention of price-conscious customers. You can also think about giving discounts or special deals to make
your stuff even more appealing to them.
But here's the thing: while it's important to have good prices, you shouldn't cut corners on the quality of
what you're selling or the service you provide. It's not a good idea to make things cheaper by making
them worse. People want value for their money, so it's crucial to find a balance between offering attractive
prices and maintaining the quality and service standards that customers expect. That way, you can keep
your customers happy in the long run..
For example: a clothing retailer might offer discounts on older styles or have a clearance sale at the end of
the season.
 4. How can we compete against lower-cost, lower-price competitors?
To stay competitive when there are other companies selling similar things for less money, you can take a
different approach. Instead of just trying to beat them at the price game, you can offer something special
that they can't.
One way to do this is by highlighting the unique qualities of your products or services. Maybe your stuff
has features or benefits that others don't. Emphasizing these special things can make customers see the
extra value in what you offer, even if it costs a bit more.
Another strategy is to provide top-notch customer service. When you go the extra mile to make your
customers happy, it can set you apart from companies that focus solely on low prices. Good service can
make people feel appreciated and valued, which can be a big reason to choose your brand over cheaper
options.
So, while it's important to keep an eye on prices, remember that you don't have to compete on price alone.
By emphasizing what makes your products or services unique and by delivering exceptional customer
service, you can attract and keep customers who are willing to pay a little more for the added value you
provide.
For example: A business might focus on offering a higher-quality product or service, or on providing
better customer service that will help the company to compete against lower-cost and lower-price
competitor.

5. How far can we go in customizing our offering for each customer?

How much you can personalize what you offer to each customer really depends on the kind of business
you run and the people you're selling to. It's not the same for everyone.
In some businesses, like a small craft shop, you might have the freedom to create custom items for each
customer because you're dealing with a smaller customer base and unique, handmade products. On the
other hand, in a big chain store that sells mass-produced items, it's much harder to offer that level of
customization.
It also depends on what your customers want. Some people really like having things tailored just for
them, while others are happy with standard options. So, you need to understand your customers'
preferences and what they're looking for. In the end, the extent of customization you can provide is a
balance between what your business can realistically do and what your customers are interested in. It's
about finding that sweet spot where you can meet their needs while still running your business effectively.
For example: Some businesses, such as clothing retailers, can customize their offerings to a great extent.
Other businesses, such as car manufacturers, can only customize their offerings to a limited extent.

6. How can we grow our business?

There are lots of ways to make your business grow and get better. You can sell more of what you already
have, go to new places to find more customers, or make new things to sell. Another good idea is to keep
the customers you already have happy so they keep coming back to you.
Growing your business can happen in different ways, and it depends on what works best for you. You can
sell more of your current stuff, find new places to sell it, or make new stuff to sell. Also, don't forget about
the people who already buy from you – if you make them happy, they'll keep buying from you, and that's
a great way to grow too
For example: KFC can open a new outlet to increase its sale and it ultimately led to the growth of the
business or KFC launch a new flavor that the customer have been requesting for a long time.

7. How can we build stronger brands?

A strong brand is one that is well-known, respected, and trusted by customers. To build a stronger brand,
you need to focus on creating a positive customer experience, consistently delivering on your promises,
and investing in marketing and branding activities. A business can build a stronger brand by creating a
clear and consistent brand identity, delivering a high-quality product or service, and providing excellent
customer service. A business can also build a stronger brand by sponsoring events or donating to charities.
For example. Recently the sidemen charity match has been played and they have collected over 3 million
dollars to give to the charity and this helps sidemen to be even a stronger brand.

8. How can we reduce the cost of customer acquisition?

There are several ways to make it cheaper to get new customers for your business. You can try to find
customers through ways that don't cost a lot, like when people tell their friends about your business or
when you use social media to reach more people. Another smart move is to make sure that once you get a
customer, they keep coming back to buy more from you. That way, even if it costs a bit to get them in the
beginning, they'll keep buying from you, and that can help you cover the cost over time.
For Example: An e-commerce company might reduce the cost of customer acquisition by targeting ads to
people who have visited their website in the past or by offering a discount to first-time customers.

9. How can we keep our customers loyal longer?

There are a bunch of ways to make sure your customers stick around and keep coming back to you. One
big thing is to make them feel really good when they buy from you, like giving them top-notch customer
service. You can also set up loyalty programs that reward them for being loyal customers. And don't
forget to make their experience special by personalizing it, like knowing their name and what they like.
By doing these things, you can keep your customers happy and coming back for more, which is a great
way to build long-lasting relationships with them.
For example, a coffee shop might keep customers loyal by offering a loyalty program that rewards
customers for their purchases or by providing a comfortable and inviting atmosphere where customers
can relax and socialize.

10. How can we tell which customers are more important?

All customers aren't the same, and some are more important for your business than others. To figure out
who these special customers are, you should keep an eye on a few things: how much they spend, how
long they keep buying from you, and whether they might stop buying from you in the future.
By paying attention to these factors, you can identify the customers who are really valuable to your
business. These are the folks you want to focus on and make sure they stay happy because they can have a
big impact on your success.
For example, an airline might identify its most important customers as those who fly frequently or who
book business class tickets.

11. How can we measure the payback from different types of marketing
communications?
To measure the payback from different types of marketing communications, you need to do the
following steps:
Sales tracking: this is the easiest way to track the sales simply by measuring the before and after sales of
a product or services.
Lead generation: you can track the exact number of leads that have become a customer by measure how
many leads has become customer.
Website traffic: How many people visited your website during the campaign. This can be a sign of
success, as more visitors means more potential customers.
Social media engagement: How many people interacted with your brand on social media during the
campaign. This includes likes, comments, and shares. High engagement shows that your audience is
interested in what you have to say and that your campaign is resonating with them.

12. How can we improve sales force productivity?

To improve sales force productivity, set clear goals, provide training and support, automate tasks, use
CRM software, and provide coaching and feedback.
Setting clear goals for your sales team will help them stay focused and motivated. This could include
goals for the number of sales calls they make per day, the number of leads they generate per week, or the
amount of revenue they close per month. Providing training and support will give your sales team the
tools and knowledge they need to be successful. This includes training on your products or services, your
sales process, and CRM software. You should also provide ongoing support and coaching to help them
improve their skills and performance. Automating tasks will free up your sales team to focus on more
important tasks, such as selling. There are a number of sales automation tools available that can help you
automate tasks such as lead nurturing, email marketing, and reporting. Using CRM software can help you
track and manage your sales pipeline. This will help you identify areas for improvement and track the
progress of your sales team. Providing coaching and feedback will help your sales team identify their
strengths and weaknesses, and develop plans to improve. Meet with your sales team regularly to provide
feedback and help them set and achieve their goals..

13. How can we establish multiple channels and yet manage channel conflict?
Defining your channel strategy will help you to identify the right channels for your business and to set
clear goals for each channel. Selecting your channel partners carefully is important, as you want to choose
partners that have a good reputation, share your values, and are aligned with your channel strategy.
Developing channel agreements will help to set clear expectations and guidelines for each party, which
can help to prevent conflict. Communicating regularly with your channel partners is important for
building trust and rapport, and for keeping them informed of your plans and strategies. Monitoring your
channel performance will help you to identify areas for improvement and to resolve any potential
conflicts.
 14. How can we get the other company departments to be more customer-oriented?
Here are some tips on how to get other company departments to be more customer-oriented in simple
English:
Be a good example. If you want your employees to be customer-oriented, you need to be customer-
oriented yourself. This means being responsive to customer needs, resolving customer issues quickly, and
going the extra mile for customers.
Tell your employees that customer focus is important. Make it clear that customer focus is a top priority
for the company. You can do this by talking to your employees about it, or by sending them emails or
newsletters.
Teach your employees how to provide good customer service. Make sure that all of your employees have
the skills they need to provide excellent customer service. This includes teaching them how to handle
customer complaints, resolve customer issues, and communicate effectively with customers.
Reward your employees for providing good customer service. When employees go above and beyond for
customers, make sure to recognize their efforts. You can do this by giving them awards, or by simply
telling them how much you appreciate their work.
Create a work environment where employees feel empowered to put the customer first. This means
encouraging employees to share customer feedback with the company, and giving them the authority to
make decisions that are in the best interests of the customer.
For example: A restaurant could provide training on customer service to all employees, including cooks,
waiters, and managers. The restaurant could also reward employees for providing excellent customer
service, such as by giving them bonuses or employee of the month awards.