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marketing in today's business
Marketing theories and concepts
marketing in today's business
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Since the beginning of time and the invention of the marketplace, humans have had to rely on their own instincts, wants and desire’s as to what to offer and what to provide the consumer. If you follow the Bible, it states that Eve convinced Adam to eat the forbidden apple. But Eve was not technically the first marketer. It was the snake that convinced her to market to Adam. The snake was successful in enticing his target audience because he was offering something that should never be, an item that was new and unknown. Driving on the curiosity of its target created a successful exchange. The only thing left now is how to deal with the evolution of our environment and keep up with consistent successful marketing.
Marketing has commonly been discussed as being progressed through five distinct phases of evolution: the simple trade era, the production era, the sales era, the marketing department era, and the marketing company era. The ability of keeping up with evolving markets and materials used is crucial when catering to an ever changing and growing audience. The latest fads, trends and styles also sculpt what we produce as marketers, when rubber was invented it was thought of as a wonder material and later revolutionized the transportation industry by replacing wooden tires with a new more durable, safer and cheaper product.
Although we are usually taught the standard five distinct phases, one could say that with the evolution of all of these phases, new ones would eventually be born. Eventually the sixth phase would be: the relationship-marketing era, the ability to build long-term, mutually beneficial relationships with your customer. This type of strategy leads to the creation of trust with consumers and builds loyal clients, i...
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...ll make it easier for a response or review of the product. The window of enjoyment seems like it would be higher even if the product is not superior, and would more likely have a much larger buzz generated than without the event. It is this type of buzz that creates household names, and word of mouth advertising. Also the ability to customize products that we currently have is going to cause a huge impact on the business/consumer relationship, accelerating trust and creating even more loyal clients than before.
It doesn’t have to always be over the top, but a little giving back mixed with some original creative content is the kind of marketing that I enjoy and hope to implement in my own marketing practice.
Works Cited
Hammond, Michelle. "Pizza Hut Releases a Perfume – and Two More Bizarre Marketing Stunts." Startupsmart.com. N.p., 15 Feb. 2013. Web. 1 May 2014.
“Adversperience” The convergence of Advertising and Experiential Marketing is a wonderful book, I elected to look over for my book report assignment.
Chapters are made in short format, they are intended to convey one point and free of jargon. The author summarizes the point in one sentence in boldface italics. Hints and tips cover the conventional four P’s of marketing, which are product, place, price and promotion, in an irreverent and iconoclastic manner, nothing is sacrosanct.
Soloman, Marshall, & Stuart (2018) states how “ marketing is the activity, set of institions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large “ (pg. 4). To better explain the meaning of marketing is every part of conveying the importance to everyone that a business deal pertains to (Soloman, Marshall, & Stuart, 2018). The marketing campaign that has influenced me is the Cheerios commercial: “Good goes round”. Cheerios are round and everyone likes them, it brings all racises together which impacts all individuals around the world. The commerical is influential to me because it is putting out a good message that something as small as a cheerio
Once the target market has been identified it is important to develop a marketing strategy. In today's fast paced, information overloaded society; conveying a message about a product seems to be more difficult than ever. The consumer is bombarded with advertising everywhere they look. Today advertising not only exists on television, radio, magazines, and newspapers, it can be found on billboards, park benches, in our mailboxes, on buses, taxis, at sporting events, and on clothing.
In conclusion to this, I think that marketers do not have the ability to control the consumers need through the process of efficient marketing methods. However, the marketers can successfully market products by taking the process of demographics and psychographics into consideration, while this will profitably market their products to the intended consumers hence increase in the demand or need.
With the multitudes of new companies emerging, the market place has never been this competitive, and continues to get more crowded, which reduces the likelihood of success for any firm. Marketers are having a much harder time trying to predict what appeals to their target consumers. It would be a miracle if they could just read the consumers minds and finally focus on their exact needs! Do you think that marketers would dare tapping into the human brain? The answer to that is yes: marketers today are resorting to neuroscience to learn why consumers make the decisions they do, and what part of the brain is telling them to do it.
Marketing is not a static construct, but it grows and develops over time to become what is known as marketing today. “The marketing revolution divides neatly into four separate eras’, eras’ which parallel rather closely the classic pattern of development in the marketing revolution.” (Keith, 1960). The first of these 4 eras was until the 1930’s and was production and profit orientated, and are considered to be outdated. During this era “the new product decision was product oriented not marketing orientated.” (Keith, 1960). “The second era was a sales oriented era, whereby marketing was seen as a series of activities designed to produce profit through ascertaining, creating, stimulating, and satisfying the needs/wants of a selected segment of the market.” (Eldridge, 1970, p. 4). The 3rd and 4th eras are a representation of what
2. To maintain their relationships with customers, marketers have to be alert to changes and adjust their activities accordingly.
On this occasion to celebrate the 75th anniversary of Journal of Marketing, it is important to recognize its many contributions to the theory and practice of marketing. Marketing is the activity, set of institution, and processes for creating, communicating, delivering and exchanging offerings that have value for consumers, clients, partners, and society. We see the emergence of a whole new marketing environment that will affect the science and practice of marketing in the coming years.
Due to the fact that changing times imply as well a change of society and its changing wants and needs, companies have to be aware that a brand’s position should be adapted to a newly developed lifestyle. “All brands need to be revital-ized on a regular basis in order for them to be kept fresh, vital, and relevant to the contemporary market.” (Keller/Sterthal/Tybout 2002, p. 86).
‘Creative without strategy is called “art”. Creative with strategy is called ‘advertising’. Creativity grabs attention. People are flooded with millions of ads each day, but screens most of them out. Creativity allows advertisements to get past the filtering process and appeal to the intended audience. (Altstiel & Grow 2012) Advertising agencies nowadays are forced to think outside the box, by looking at the bigger picture and constantly discovering new ideas and ways to grab people’s attention. A successful creative advertisement results from the ability to incorporate strategic concepts in order to draw the line between plain art and advertising. There are no rules, no patterns to creating highly creative advertising. (Lee 2000)
Marketing professionals create, manage and/or enhance brands in order to create or bolster demand for the product. A successful marketing plan will help assure that consumers look beyond just the price or function of a product when making a purchasing decision, in part, a well planned marketing effort will create a “feel good” association about the product the consumer is about to purchase (Petty) A key part of a career in marketing is to understand the needs, preferences, and constraints that define the target group of consumers or the market niche corresponding to the brand. This is done by market research. This is accomplished through market research, essentially using survey techniques, statistics, psychology and social understanding to help gather information on what consumers want and/or need, and then designing products, or services, to hopefully meet ...
The shifting of the consumer’s taste of simple products to high quality branded products is not sudden. It grew out in the middle of the 20th century and the companies selling various products needed a new way to differentiate their products from the others giving it a unique identity.
It 's no secret that traditional marketing practices have declined and consumers are now more skeptical than ever. Brands have had to find ways of connecting with potential customers in a more authentic way.
In the business market, the main and principal key to get profit is by the active consume of a product in the marketplace. Nevertheless, firms have taken advantage of that and have created false needs to consumers. According to Leiss, “The only true need, it would appear, are for nourishment, clothing, and housing.” In other words, he states that people can live without television, internet, IPod, and so forth. But the impact of commercials have made people feel the necessity of something else than food and shelter.