JOURNAL ASSIGNMENT Example | Topics and Well Written Essays - 1250 words

JOURNAL - Assignment Example This concept shifts the businesses’ marketing efforts from being product-centered to being customer-centered (Borch, 3). After the purchase I went to my grandfather’s house where he showed me his collection of vintage cars. There I found one Ford car called the Model-T Ford. My grandfather told me that at that time they used to sell only this car which was available only in the black color (Brooke, 8). The marketing concept that came to my mind was Mass Marketing where the seller is involved in the mass production, mass distribution and mass promotion of one product for all buyers. Today I was watching television where I saw a news report about a chain of supermarket that is adapting its product range to suit the needs and preferences of the local communities. I immediately linked this news to the marketing concept called Geographic segmentation (McDonald, 121). This kind of segmentation is carried out by companies such as Walmart and Kmart in United States for the purpose of retaining their customers. I was reading a book about Indian economy and how it was in total disarray before the liberalization process in 1991. The book mentioned that after Coca-Cola was forced to make an exit from Indian market, Pepsi made a comprehensive attempt to win over Indian government and business (Bachmeier, 123). The success achieved by this helped Pepsi in entering the market and dominating it for a considerable time. This kind of marketing is called Megamarketing which depends on strategic coordination of economic psychological, political and public relation skills. Branding is a very important marketing concept. It simply establishes a link between the products and services with power of brand. Branding forms an image in the minds of consumers and gives them a reason to buy that product. When I picked up my Gillette razor in