2. 3 Marketing Problems & Research Objectives
To solve the symptom of the number of customers decreasing, there is a need to find out the relationship between the underlying cause and effect. The diagram below displays seven underlying causes of the symptom.
After categorizing the 4Ps of the underlying causes, we set marketing questions regarding these causes.
• Product : How can we
marketing
The process of discovering the needs and wants of potential buyers and customers and then providing goods and services that meet or exceed their expectations
exchange
The process in which two parties give something of value to each other to satisfy their respective needs
Focusing on customer wants so the organization can distinguish its products from competitors’ offe
Submission 1
Part I.
1. Explain briefly about your company, and evaluate their Mission Statement. If you cannot find one for the company, develop the mission statement for the company. Explain why the statement is good.
Blue club is the first and biggest barbershop which satisfies customers` need for cosmetic treatment and favorite place to score at an affordable price. while Blue club is
customers have comparatively high brand loyalty though it requires low no switching costs for customers. Recently, government tries to legislate a law to give subsidy to this industry. In conclusion, we can say that threat of new entrants is comparatively high.
iv. Substitutes (Threat of Substitute - high)
In this industry, Brand loyalty of customers is considerably high as people don’t c
Customer
Competitor
ETC
1. Supply of diamonds
2. Online distribution
3. Supply chain management
4. Demand of
diamonds
5. Excessive Competition
6. Changing rule
(Accounting & Law)
(1) Supply of diamonds
- Risk : A majority of the world’s supply of rough diamonds is controlled by a small number of diamond mining firms. As a result, any decisions made to restrict the sup