Internal Assignment Applicable for Dec 2024 Examination
QI. XYZ Corporation is a leading retailer in the fashion industry, primarily targeting middle-aged consumers. However, recent demographic shifts show a growing population of younger consumers with different tastes and purchasing behaviors. As the marketing manager. you are tasked with adjusting XYZ Corporation's marketing strategy to better serve this changing demographic. Analyze the impact of the demographic changes on XYZ Corporation's marketing strategy. Propose a new marketing strategy that considers these demographic shifts and addresses potential challenges. Justify your recommendations with appropriate marketing theories and concepts. (10 Marks)
2(A) A company that has been successfully selling consumer electronics to individual customers is planning to enter the business market by offering bulk sales of its products to corporate clients. As a marketing manager, you need to prepare a briefing on how the business market differs from the consumer market. Explain two key differences between business markets and consumer markets that the company should consider when developing its marketing strategy. Provide examples to illustrate these differences. (5 Marks)
2(B) A leading consumer electronics company is facing declining sales for its flagship smartphone model. The company's management has decided to initiate a new product development process, starting with internal idea generation. Describe how the company could effectively use its internal resources to generate new product ideas. What are the potential challenges and benefits of relying solely on internal sources for idea generation? (5 Marks)
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