Principles of Marketing (MGT301) | Fall, 2023 Assignment No. 1
Total Marks: 10
Weightage: 03
Topic: Theme No.1
Learning Objective:
The core objective of this activity is to familiarize students with the demand situations and marketing
concepts.
Learning Outcomes:
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This assignment encourages students to analyze demand situation within the context of "EcoLux
Furnishings" and categorize it based on the provided scenario.
Students will be able to articulate the implications of demand situation on the company's strategies
and operations.
Scenario:
"EcoLux Furnishings," a newly launched company that designs and sells eco-friendly furniture and home
decor. With the motive of producing eco-friendly furniture, EcoLux Furnishings makes sure to produce
sustainable furniture that uses materials with least negative impact on the environment. For instance, the
material they use has minimal chemical components, furniture can easily be recycled and is less harmful to
the environment. Being a newly introduced firm, the aim of “EcoLux Furnishings” is to target a large
market share thus by maximizing its clientele however, the concept of the term eco-friendly in terms of
furniture is quite new and unfamiliar to the general public. As, the general public is considerably seen as
more interested in buying cost effective and alluring furniture designs instead of eco-friendly options. The
marketing team of “EcoLux Furnishings” needs to be very vigilant in terms of devising creative strategies
that can not only increase their sales but also make the people aware about their unexplored furniture ranges.
Requirement:
1. Based on the given scenario, mention the demand situation that "EcoLux Furnishings" is currently
facing. (4 Marks).
2. Write down any three possible implications/strategies for EcoLux furnishings to overcome that
demand situation. (2 Marks for each possible implication/strategy).
*Important Note:
Do not copy from YouTube videos. Most of the videos have the wrong solutions and we
catch you easily. Marketers! let's craft original assignments that resonate.
Copy-paste? That's not a MARKETER’s style!
Marking Scheme:
The total marks for this Assignment are 10. The marks division is clearly mentioned against each
question.
Important:
24-hour extra / grace period after the due date is usually available to overcome uploading difficulties.
This extra time should only be used to meet the emergencies and the above-mentioned due dates should
always be treated as final to avoid any inconvenience.
Important Instructions:
▪ Students are advised to study the whole text carefully.
▪ Try not to include any irrelevant material in the solution.
▪ Try to come up with precise and original answers.
▪ Assignments reaching after the due date would not be considered.
Other Important Instructions:
DEADLINE:
▪ Make sure to post the solution before the due date on VULMS.
▪ Any submission made via email after the due date will not be accepted.
FORMATTING GUIDELINES:
▪ Use the font style “Times New Roman” or “Arial” and font size “12”.
▪ It is advised to compose your document in MS-Word format and then upload the solution through the
in-line tab.
▪ You may also compose your assignment in Open Office format.
▪ Use black and blue font colors only.
“GOOD LUCK”