(MKT 501) – MARKETING MANAGEMENT

MARKETING MANAGEMENT (MKT 501)Assignment No. 1Marks: 10Instructions:Due date of this assignment is April 1, 2016.Follow the instructions given below carefully before making solution to thisassignment.1.You will be able to answer this assignment after going through first 10lectures of MKT501.2.Answer should be concise and clear and relevant.3.Students are advised to submit files in *.doc format (Upload the solution file in MS Office Word format).4.No assignment will be accepted after due date and time.5.In case of cheating, no credit will be given to students who are involved in.6.In case of any failure with system, you can send us solution file via email at mkt501 with the condition of sending email within due time.7.We don’t allow plagiarism (an academic crime) to copy/paste from websites/internet or other sources; zero will be awarded. You can take data/information from different sources BUT express/organize in YOUR OWN WORDS.8.Assignment means comprehensive details about the given topic quoting different sources (books/articles/websites etc.).Question:Businesses are today facing three major challenges and opportunities that are globalization, advances in technology and deregulation. Key to survive in today’s world is to determine needs and wants of target customers and delivering the desired satisfaction more efficiently and effectively than competitors. Describe the various reasons companies are using the marketing concept.