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.