Full name: Lâm Nguyễn Thế Khang

Student number: 17

FINAL
EXAMINATION

Course Name: Principles of

Marketing Question 1 – 4 marks (Maximum limit: 500 words)

- What is Marketing? Give an example of either national or local companies that are
excellent at marketing, and how they reflect the given definition.
Answer:
Marketing like the air in the background of 2021, we see marketing every day, every time,
and enjoy it every moment. So, how do you grasp the concept of marketing? Why does a
business want marketing to exist and grow? "Value" is the main keyword in the marketing
definition, and it applies to almost all marketing activities.
The core value of marketing is to create customer engagement and manage profitable
customer relationships. The twofold goal of marketing is to attract new customers by
promising superior value and to keep and grow current customers by delivering value and
satisfaction.
Customer engagement is when customers are interested in a product or company and feel
that they have a connection with that company. For example, an aspirational university
student appealed by an English course because that center gives him a lot of discounts,
shows brand awareness, or use a well-known ambassador in English, all of them make him
think that “Ahh, It’s the best choice and it’s very fit with my needs, wants and demands”.
Customer relationships are the important case when you solve a Marketing problem.
Marketing is the process of enticing potential customers to be aware of your product and
purchase it. In addition, by using a lot of approaches, Marketing activities retain loyal
customers and stretch the customer base. When the company finds out their customer
orientation, they will do a lot of strategies to exchange value and to solve or deal with
customer problems.
Marketing set of activities related to creating, communicating, delivering, and exchanging
offerings that have value to others. “Value creates value”, the pressing of marketing is to
use the company’s platform to understand customers’ insight and solve their problems or
arouse their needs in “Black Box”. The created values forced to more than the costs which
customer pay for.
The marketing story of every business is different comes from their market segmentation,
their brand personality, or because of their campaign to stretching. When Unilever’s Knorr
finds ways toward a Sustainable Future. Likewise, In Viet Nam, MoiDien becomes a
 special fashion local brand for teenagers as its marketing story.
“Trashion” (the combination of trash and fashion) is a popular concept in the world but
strange in Viet Nam. With understanding as well as the desire towards a new perspective
of life, Tom Trandt – the young founder of the MoiDien brand has blown into products a
spirit full of power to educate young people towards a sustainable life. Recycling selected
old fashion products and bringing a new color to products has made MoiDien popular with
young people as well as celebrities and promises to grow in the future.
Sustainable marketing gives MoiDien a unique brand image, engages customers who love
fashion and are interested in reusing old materials to protect the environment. To boost
brand awareness as well as build customer relationships, MoiDien put ideas and beliefs in
each marketing campaign and collab with ambassadors who understand and embody the
spirit of the brand in media and runways.

Question 2 – 3 marks (Maximum limit: 500 words)

- Some new products experts maintain that getting close to customers through intensive
research is the only way to develop successful new products. Other experts disagree
and maintain that customers can’t possibly provide useful feedback on what they don’t
know and can’t provide insights that will lead to breakthrough products.
- Question: what do you think of this marketing debate?
Answer:
Why research in marketing? In addition to marketing intelligence information about general
consumer, competitor, and marketplace happenings, marketers often need formal studies
that provide customer and market insights for specific marketing situations and decisions.
For its reasons, I think research is an important step in a marketing campaign.
Marketing research is the systematic design, collection, analysis, and reporting of data
relevant to a specific marketing situation facing an organization. Companies use marketing
research in a wide variety of situations.
With new products, MR gives us information about the company’s target market to help us
approach people who will be our new customers in this campaign or keep a high retention
rate in our new line of products. For example, the company runs a marketing campaign for
its drink products that are targeted at teenagers. In that context, they can use the customer’s
database through research to underline the market segment and the consumer behavior in
this age group. On that basis decide about times, jobs, approaches,…all activities in this
campaign to add more value to the new product and make this base of customers think that
“This is my best option to buy a can of soft drink”.
Research in the testing product before launch like the company’s risk management. The
main goal of new product testing research is to have your target audiences evaluate the new
product and ensure that the product meets their needs. This research will provide insights on
changes that must be made before a product is finalized and hits the market. It can also help
guide the product launch through marketing insights. Depending on the complexity of your
 product, this type of research may need to be re-visited at multiple points throughout the
product development process.
The understanding of the consumer wants and needs and of how your new product could fill
those needs in a meaningful way is at the heart of any product development program.
Finding out the key to new products is a special important optimization of resources as well
as creating the best “effective” and “efficient”.
Research competitors to have changed or improved the company’s new products. Do you
think your product is special? Is it unique on the market? And why customers will pay for
it? The research will prove and make it happen by the numbers of price, consumer behavior,
or brand awareness in our competitors.
Although research is an important step of marketing, it's not only. Because if there is the
only research that does not use own- for analysis, it will be both time-consuming and costly.
Information gathered from internal databases, competitive marketing intelligence, and
marketing research usually requires additional analysis. Managers may need help applying
the information to gain customer and market insights that will improve their marketing
decisions. This help may include advanced analytics to learn more about the relationships
within sets of data. Information analysis might also involve the application of analytical
models that will help marketers make better decisions.

Question 3 – 3 marks (Maximum limit: 500 words)

- With marketers increasingly adopting more and more refined market segmentation
schemes—fueled by the Internet and other customization efforts—some claim mass
marketing is dead. Others counter there will always be room for large brands
employing marketing programs to target the mass market.
- Question: what do you think of this marketing debate?
Answer:
Buyers in any market differ in their wants, resources, locations, buying attitudes, and buying
practices. Through market segmentation, companies divide large, diverse markets into
smaller segments that can be reached more efficiently and effectively with products and
services that match their unique needs. So, market segmentation is an important approach to
the customers who have different insights to give the different fit services or values.
Each segmentation has different behaviors, in more detail is different mindsets. We want to
know that when and how our products and values can get more efficient. For example,
When we launch a new fashion product for young people, especially men U30, we must
prioritize the minimalism, comfort, and youthfulness of the product. Understand customer
insight to make our product the best choice of target customers in the segment.
Taking the story of The Coffee House as evidence, when entering the Vietnamese market,
The Coffee House understands that the people here, especially students and adults who
come to coffee shops, do not simply drink water but also want the place and space. Not
stopping there, the price from 30-40 thousand vnd has been abandoned by the big players in
the market such as Starbucks or Highland. Turning this segment into a loyal customer is a
successful and wise move by TCH.
Mass marketing refers to identifying a market for a particular product and marketing to the
whole market without making any further classifications on any basis. Such as a mobile
phone manufacturing company if markets its phone to all mobile phone users and potential
mobile phone users then it is mass marketing. Thus a seller gets engaged in producing,
selling, and marketing a single product for all buyers.
Although, the use of mass marketing is declining in this background. Increasingly stiff cut-
throat competition: Every industry, be it batch processing like paints industry or assembly-
line productions, etc. Every industry is now having severe competition but I think mass
marketing is not dead in reality.
People will always need/want things that are mass-marketed such as laundry detergent,
deodorant, and spice. Although consumer marketing today also has many brands that have
adopted market breaking, in my opinion, smaller segments are not the key approach in this
case. People's demand for essential consumer products is hardly different, and splitting
market share will lead to "information interference", it doesn't bring the effect of marketing
to the contrary that makes it difficult for customers to choose our products.
Instead of dividing the market segment among consumer products, optimize prices as well
as promotions to make our products stand out in the market. Use a masterful way of mass
marketing to attract customers instead of following marketing trends in the market.
However, it is also worth knowing how to learn and learn marketing lessons so that mass
marketing is still considered a branch of the market marketing tree.
Understanding the product and market is still the best option because mass marketing or
segmentation is just a method of marketing.