Post 8
Each week of I have
posted a new blog- this has meant connecting things I learned in class with outside
companies or relevant topics of my choice. By doing so, I have gained several
different outcomes all of which have increased my knowledge and experience of
marketing. Below I have broken up what I have learned from these blog posts
into five sections. Each section summarizes key lessons that relate to
marketing...
1.
The customer and entity/business are the two key figures
is marketing. One cannot survive without the other. The relationship between
the two is vital and the business must constantly reevaluate itself to make
sure it is providing consumers with what they need in an affective/efficient
manner. Businesses must be able to recognize marketing opportunities and to
deal with both inside and outside effects. A company could be affected by an incompetent
manager or hit by an economic downturn. As a result, a company must be able to
deal with and react to whatever situation is thrown its way. For example, in
one of my blog posts I mentioned the struggle that Ford had encountered when
trying to sell its 1950s car model. Ford had to deal with product failure to a
great extent and be able to accept and move on from its models poor reception.
2.
Marketers are the ones trying to sell the goods or
services of a business and they play a vital role within each company. They may
use oral or written forms of communication to reach customers. For example, in
my blog posts I often include pictures from advertisements of certain products.
Some advertisements will just be a picture followed by a simple message. In my second
blog I show a picture advertisement example of Ripcurl- it’s a surfer sitting on
one of their surf boards and it reads “surfing is everything” with the logo
below.
3.
Researching in marketing is very important. Without
research, a company is sure to fail. A company must choose a target market and
look at potential consumers. It is helpful to know review their age, sex, race
and demographics. Also, knowing what millennia’s are targeted is important.
This will inform the business what medium to use in order to reach the consumer
and what message would be most effective. An example, in my first blog I discuss
Tommy Hilfiger and its effective message of “Classic American cool” to reach
its targeted consumer.
4.
The decisions that a business makes will of course
depend on what type of business it is. There are non-profit companies, public companies
and smaller businesses. Each has a unique perspective and goal. A non-for
profit may not have a core focus on making money but operating efficiently and
providing client satisfaction. In addition, public companies may have the goal
of making a profit but the way they go about doing so obviously varies.
Different companies have varying mission statements. Increasingly, companies
are including environmental awareness to its mission/everyday activities.
5.
Although companies aim to make a profit, they do have
to follow the law in doing so and managers/marketers should act ethically. In
the past there has been debate over marketing and whether there we are affected
by subliminal messages. Also, as mentioned in my last post, there is arising controversy
over direct marketing and its invasion of privacy. How much should a company be
able to research/track us online in order to target us? These issues are being
brought into light and will likely be continued to.
