MGT301 Principles of Marketing GDB No. 2 Semester Fall 6th November 2012

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MGT301 Principles of Marketing GDB No. 2 Semester Fall 6th November 2012


Dear Students

This is to inform that Graded Discussion Board has opened on 06 November, 2012 for discussion and last date of discussion is 07 November, 2012. (48 Hours)

Discussion Question: Marks 20

TOPIC: Understanding Breakthrough Marketing in 21st Century


The term Breakthrough Marketing has been used excessively by scholars as it has changed the face of marketing approaches. The demands of customers are now more sophisticated and ever-changing as the breakthrough of Information Communication Technology (ICT) has elevated the access of information of customers. Now customers are more informed, sophisticated and challenging. It has pushed the companies to deviate from their traditional approaches of dealing customers and finding new ways to delight their customers with more focused, efficient and effective way.

Learning Objectives:

Business students will be equipped to:

Understand the evolution of marketing concept
Learn the marketing breakthrough in 21st century
Describes the role of ICT (information communication technology) in today’s business arena

Learning Outcomes:

Business Students are expected to:

Learn about the emergence of old marketing concepts
Have a better understanding about the current organizational strategies for launching a new product by using upgraded marketing methods.
Learn the importance of ICT culture for organizations

Reshaping Marketing Practices: the role of ICT

The practices of marketing have transformed into modern approaches since the inception of Information & communication technology (ICT) and social media networks in business cadre. Every business graduate is aware of the evolution of marketing concept began in 1970. Lets’ flash back our memory to know the marketing concept started in 1970. The marketing orientations started with Production and Product orientation and shaped in and Selling, Marketing and Societal orientation. Production concept is defined as: consumers support those products that are easily available and highly affordable. The products were made without considering the choices of the consumers. While product concept holds that consumers favor those products which they consider are of high quality, performance and features. Moreover marketing concept of 1970 emphasized to produce those products which can fulfill customer’s needs, wants and desires.



The aforementioned orientations and approaches have been transformed into modern approaches with the emergence of technology. Now we are living in ICT age; where a single product becomes known globally in few seconds due to the revolution of interactive media. The large number of companies are now focusing on CRM and CEM (customer experience management) as an effective strategy to win customer’s loyalty and long-term customer relationship. Now the companies are adopting the new approaches of marketing due to advancements in information communication technology that involves in every step starring from product development to launching and advertising.



For instance, Practical Example of HP’s (Hewlett-Packard) campaign “The Computer is Personal Again”:

POINT TO PONDER:
You have experienced in your daily life that dozens of products are being introduced on daily basis by different national and multinational companies around the globe. The products are enriched with the attributes/features and supported with CEM through interactive media.

You are required to discuss the significance of ICT in facilitating the marketing efforts in modern business environment from company’s perspective. What potential benefits companies may enjoy while incorporating the ICT for customer facilitation.


GDB INSTRUCTIONS & GUIDELINES:

1. You are advised to visit the following websites:

2. Take help from internet as well as use your personal contacts for collecting the information.

3. Carefully watch Video Lectures from Lesson # 01 to Lesson # 06 and consult the recommended books.

4. Answer should be relevant and to the point.

5. Avoid copy/paste from any website otherwise it will be marked zero.

6. Attempt the GDB by yourself and it will be entertained positively.

7. Case is opinion based so provide your best output with justifications.

8. GDB received after the due date will not be considered.MGT301 - Principles of Marketing