MARKETING ASSIGNMENT

Marketing Assignment



Marketing Assignment

Introduction

Diwan Bookstore is a success story all by itself. Diwan is located in Egypt and has slowly garnered a reputation of being a premier bookstore, with a vast array of customer services provided to their loyal following. It claims to be a boutique bookstore that offers unique and niche products with the promise of exclusivity and excellent customer retail service. It also provides a very serene and special atmosphere at its various locations, which is one of the sole reasons they have managed to form such a loyal fan base.

Discussion

Diwan bookstores started off in one city and have managed to spread all over Egypt, which is no surprise given the amount of popularity it enjoys. The business model that Diwan utilizes has helped the organization go a long way in understanding their customers' needs, wants, and demands through the thorough analysis of political, sociocultural and environmental factors that the business owners were able to perform so well in Egypt. Before the store was formed, there were very few small bookshops in and around the Egyptian markets. Even those that were going steady did not provide a large collection of books, and the ones they did provide were often outdated.

To fully analyze their management systems, we must understand the marketing key concepts of needs, wants, and demand of customers. Needs are the basic human requirements such as the need for food, air, water, clothing, and shelter to survive and also an extended part of needs nowadays are education, healthcare, and entertainment. These needs become wants when they are directed to specific objects that might satisfy the need, though these wants in themselves are not essential for living. A want is a felt need that is shaped by one's personality, society, knowledge, and culture. Great marketers will always try to shape what we wants and influence what we buy. Demands are wants for specific products controlled by an ability to purchase. The needs wants and demands are a very important component of marketing because they help the marketer decide the products needed to offer in the market.

Diwan's customer needs at the time were the availability of books to read. Being forced to purchase books from other countries also meant paying a lot more in terms of local currency. The needs in this situation were to be able to read books that weren't outdated and were easily available. Customer wants were of a book store that sells international as well as national book titles at fair prices and at a convenient location. Customers would often have to look long and hard for bookstores around their location. Therefore, the wants in this scenario were of a bookstore that offered a convenient way in which customers could purchase their favorite titles without having to go to international markets abroad, or online.

Customer demands were services to go with the selling of books, such as gift-counters or music and multimedia sections.This was evident by the success of Diwan bookstore, especially since ...