Mkt501 Assignment No. 1 Fall 2011 solution
Monday, October 24, 2011 Posted In Mkt Edit ThisSemester “Fall 2011”
“Marketing Management (MKT501)”
Assignment No. 01 Marks: 20
“Assignment Title”
Mr. David James is an owner of a retail store at defense state, city of Lahore. He deals in fruits, meats and other eatable products. Currently he has a limited inventory of frozen food products in its retail store. Mr. David has a limited market share as a retailer of frozen food products. He is intended to increase its market share by introducing a new product. Mr. David introduced highly chilled thorn-less fish which is nutritionally equally beneficial but has significantly large preservation time; hence expiry date for the product is quite far than the usual fish products.
Mr. David suddenly achieved an increased market share but after some time his market share started declining since his competitors started replicating his offerings. Hence ultimately Mr. David receded at its former market share.
Think Consciously
1. What is the major strength in David’s strategy led to the David’s increase in market share?
Solution:
Frozen food increase the life of food i.e. fruits, meats and other eatable products. Highly Chilled thorn-less fish is the totally strength of David James as its a unique product in whole market in other words this product will make David's monopoly in Chilled thorn- less fish.
2. Which flaw in marketing strategy led to the decrease in the market share of David’s business?
Solution:
4ps play a vital role in any product marketing strategy if David’s lose to make a perfect 4p plan than this flaw in marketing strategy led to the decrease in the market share of David’s business.
Conclusion:
It is not always easy to assess the strengths and weaknesses of your own business objectively. You may wish to get someone else close to you or the business to help you. If you are working in different market segments or with different products it may be easier to carry out your analysis on each segment/product separately.
You might consider the following:
> distinctive product or company
> strengths
> financial resources
> range and level of service
> client base
> price/fee structure
> distributors
> promotion and selling
Important Tips
1. This Assignment can be best attempted from the knowledge acquired after
watching video lecture no. 1 to lecture no 09 and reading handouts as well as
recommended text book).
Schedule
Opening Date and Time October 24, 2011 At 12:01 A.M. (Mid-Night)
Due Date and Time October 28, 2011 At 11:59 P.M. (Mid-Night)
