MAJOR ASSIGNMENT

(30 Marks)

Q1:

The Needy Species

It is ironic that a non-marketer gave us one of the most important marketing concepts. Abraham Maslow developed the hierarchy of needs, asserting that as we fulfill the most pressing physical needs, we instinctively pursue needs at 4 more increasingly personal levels.

In some ways, the hierarchy runs parallel to our life cycle. A newborn needs only nutrition and rest (physiological). Shortly thereafter, he/she yearns for closeness to mom (safety) and so forth.

Discuss and describe the level of need(s) that have been met with the inception of social media.(2000-3000 words)

(10 Marks)

Q2:

B2B or not B2B

Though it is true that total revenue generated between businesses is greater than that of B2C, it is ultimately the demand of the end consumer which actually triggers demand back through the supply chain. This concept, known as derived demand, reminds us that, no matter how big the orders between a steel plant and an auto manufacturer, it is the number of cars demanded by consumers which increases or decreases demand at the production level. This truth also connects us to the macroeconomic concepts of supply and demand and, in turn, recession and inflation.

How is derived demand linked to economic expansion and contraction? .(2000-3000 words)

(10 Marks)

Q3:

Position your favorite fruit

Suppose you have been hired by an association representing growers of your favorite fruit. Your clients have seen a decline in sales of their product and are looking to you to help jumpstart demand.

Your first task is to identify differentiating characteristics about their product relative to the competition. You must then choose which of those differentiating benefits would resonate most deeply with the target market.

Once you have done this, craft a positioning statement for your clients using the outline discussed in class. .(2000-3000 words)

(10 Marks)