Question

Answer the following question.
JTM Ltd. launched 'Buddy line', an exercise book and comprehensive stationery brand name comprising of ball pens, gel pens, and geometry boxes after identifying the target market and understanding the needs and wants of the consumers of that market. All their products were of good quality and eco-friendly but expensive. They wanted to distinguish their products from that of their competitors. They spent a lot of effort, time, and money in creating the brand name, as they knew that without a brand name, they can only create awareness for the generic products and can never be sure of the sale of their products. The effort paid off and the demand for the products started growing. The customers liked the brand and became habitual to it. They did not mind paying a higher price. Over a period of time, it became a status symbol to buy the 'Buddy line' brand because of its quality. The consumers felt pride in using them.

Identify the marketing management philosophy followed by JTM Ltd.

Answer 1

The marketing management philosophy that is being followed by JTM ltd. is ‘Societal Marketing Concept’. This is because it not only identified the needs and wants of the consumers but also delivered good quality and eco-friendly products.