But he, himself alone enlightened me enough to consider that he was Just “marketing” the course. As I was going-over the lecture done through online, I can say, marketing is interesting. Like what Gooding defined, it is a contest, so it is a battle of creative minds to produce and innovate products, services, ideas, places, even experiences and many more. I find these marketers (the people who seek response from another party) brilliant for they possess superb brainpower to make the marketed things more attention-grabbing thus creates a greater number of customers to buy.
While the country Is always seeking out for demands, the marketers have to pursue to influence the level, timing and composition of demand to meet the objectives. They should mount and maintain organization by keeping and following the marketing system wherein the industry (collection of sellers) and the market (collection of buyers) are the two main constituents whereas the information, communication, goods and money are circulating. These things being marketed en route for the various customer markets like the consumer, business, global, non-profit and governmental markets across the oral.
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The advertised and promoted items for consumption are put on sale through what we call marketplace, marketplace and metatarsi. Considering the definitions in the lecture, marketplace is physical, like when someone stops in a store; marketplace is digital, as when someone shops through online or the Internet, for instance, someone orders desired ass’ dresses on O-shopping; and metatarsi Is a cluster of complementary products and services that are closely related In the mind of consumers but are spread across a diverse set of Industries, Like for example, insurance companies, racing industries, travel agencies and customization industries.
Moreover, there are also different company orientations toward marketplace. One is the production concept. This theory holds that consumers will prefer products that are available and inexpensive. A good example is the status quo in ME Shopping Center, wherein the number of consumers Is high. These consumers seek for low-cost and on hand products. The alma of the company here Is to expand and the managers quality is production-oriented. His focus is on high efficiency and reduction of reasonably priced products available for the massive distribution.
The second concept is the product concept. This theory holds that consumers will favor those products that offer the most quality, performance or innovative features. The consumers here are much concentrated with the product’s superiority among others. They should be aware even In the smallest corner of the product. The manager’s product will reach the so-called superiority. Third concept is the selling concept. This theory holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization’s products.
Guided by the lecture’s further explanation, its purpose is to sell more stuff to people more often for more money in order to make more profit. The marketing concept is the fourth concept. It is also called sense-and- respond philosophy. In this theory, the focus is not to find the right customers for your products but the right products for your customers. And the fifth concept is the holistic marketing concept. This concept recognizes that everything matters in marketing. Considering everything that is being discussed in the lecture, marketing lays a vital role to every individual in this constantly changing world.
Needs are inseparable since they are the basic human requirement of living and wants are slowly becoming a significant part of life, too. With the presence of these needs and wants, there is a transpiration of demands that ensues in the various markets around the world. “There are some things money can’t buy??but these days, not many. Almost everything is up for sale. We live in a time when almost everything can be bought and sold. Over the past three decades, markets??and market values??have come to govern our lives as never before. We did not arrive at this condition through any deliberate choice.
It is almost as if it came upon us. ” (Sanded, M. J. , 2012. What Isn’t for Sale? Retrieved from http://www. Atlantic. Com/magazine/archive/2012/04/what- isn’t-for-sale/308902/) Indeed, everything that can be bought and sold requires marketing. There will come a time that marketing will not Just be a term we are seeking for in the Internet but will be a customary stretch that makes a substantial function in life. It is never impossible that we will question “what isn’t for sale? “. If purified water is for sale in hose days, decades from now, will filtered air be for sale?
We cannot answer that for certain, but that could be possible. Markets are widespread all over the world. Marketers hold their Job so well but there are instances when they fail, failures in branding, giving prices and strategies. According to Breakfasting. Com, branding is when that idea or image is marketed so that it is recognizable by more and more people, and identified with a certain service or product when there are many other companies offering the same service or product. A failure to brand products may lead to poor ad.
On the other hand, pricing defined by Wisped is the process of determining what a company will receive in exchange for its product. Pricing factors are manufacturing cost, market place, competition, market condition, brand, and quality of product. Pricing is also a key variable in microeconomic price allocation theory. Pricing is a fundamental aspect of financial modeling and is one of the four As of the marketing mix. Formulating pricing strategies could help the improvement of sales. A failure to do so will make the products being stocked or neglected by buyers.