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MGT301 Assignment Solution 1 Spring 2023 Vu Iqra

This document contains two solutions to marketing concepts and demand situations. The first solution explains that the scenario represents the societal marketing concept, which focuses on meeting customer needs while also considering society's long-term well-being. The second solution states that the scenario depicts an emerging demand situation, where the company recognizes a growing demand for electric vehicles and aims to design EVs to target eco-conscious consumers. Both solutions are presented in the context of a car manufacturer investing in electric vehicle research and development.

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323 views2 pages

MGT301 Assignment Solution 1 Spring 2023 Vu Iqra

This document contains two solutions to marketing concepts and demand situations. The first solution explains that the scenario represents the societal marketing concept, which focuses on meeting customer needs while also considering society's long-term well-being. The second solution states that the scenario depicts an emerging demand situation, where the company recognizes a growing demand for electric vehicles and aims to design EVs to target eco-conscious consumers. Both solutions are presented in the context of a car manufacturer investing in electric vehicle research and development.

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Student
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MGT301 Assignment Solution 1 Spring 2023

Solution 1:
The marketing concept represented in the above scenario is the societal marketing
concept.

The societal marketing concept is a marketing philosophy that focuses on meeting


the needs of the target market while also addressing the long-term well-being of
society. In this scenario, the car manufacturer recognizes the growing demand for
environmentally friendly transportation and invests in research and development to
design and produce EVs. This demonstrates their commitment to meeting the needs
of their target market (eco-conscious consumers) while also addressing the long-term
well-being of society by reducing the environmental impact of their products. By
adopting a societal marketing concept, the car manufacturer is not only meeting the
needs of their customers but also contributing to the betterment of society as a
whole.

Solution 2:
The demand situation represented in the above scenario is "emerging demand". As
the concern for environmental sustainability is increasing, the demand for eco-
friendly transportation is also increasing. The car manufacturer recognizes this
emerging demand for electric vehicles and invests in research and development to

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Follow US For All Assignments Solution:
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design and produce EVs, targeting eco-conscious consumers who have a desire for
environmentally friendly transportation. Therefore, the company is trying to
capitalize on the emerging demand for EVs.

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