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Marketing - Essay Example

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Marketing can be considered both a science and an art. Marketing is a science because there are many marketing tools that required the use of the scientific method. There are many different marketing theories and concepts that must be learned to understand the science of marketing…
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Download file to see previous pages Marketing can be considered both a science and an art. Marketing is a science because there are many marketing tools that required the use of the scientific method. There are many different marketing theories and concepts that must be learned to understand the science of marketing. Marketing can be viewed as an art because marketing tools such as advertising require the use of imagination and creativity. There are many different marketing challenges and opportunities companies face today. A great opportunity is the rise of mobile advertising. Marketers can utilize the rising popularity of smartphones such as the iPhone to deliver marketing ads to mobile users. There are over 4.7 billion cellular users worldwide. A marketing challenge corporations are facing today is the rising cost of marketing through the traditional channels which are television, radio, and the press. DQ2 A trend that I have noticed in the macro-environment is the use of marketing board signs using screen technology that are capable of changing electronic messages. These boards are tremendous marketing tools that can be used to serve the needs of multiple clients. One of the hottest trends in the retail industry is the growing popularity of ecommerce. The internet has become a great mechanism to achieve sales. In 2010 in the United States ecommerce generated $147 billion in sales. Another trend in the marketing field is the growing use of diversity to obtain greater marketing results. Since the internet has become more popular than ever before companies are using aggressive online marketing strategies to achieve sales growth. DQ3 The three videos are no longer available due to copyright infringement violations. I believe that innovation can be obtained by listening to the customers. The ideas and feedback from the customers can be incorporated into the product design phase. The R&D department should perform primary research to evaluate the needs of the customers. 4. The marketing function which I consider acts similarly to art is advertising. Marketers have to be creative just like artists in their creation of commercials. Creating characters is a great way to catch the imagination of the customers. The insurance giant Geico created the Gecko character which is used in a series of television commercials. Marketing is a science evidenced by the fact that there exist thousands of books and articles written on the academic subject. Marketing is taught as an academic discipline across the world. Marketing is one the seven branches of business administration. 5. The philosophy followed by Mr. Ishisaka at Toyota makes a lot of sense. It is imperative to listen to the customers in order to create products that the market will accept. Toyota does a lot of research to determine how to best serve their clientele. I do not think that Toyota lost track of the customer in relation to their recent problems. The quality control problems that cause the defective brakes are something that was not foreseen by the company. It is possible that the firm became too confident and as consequence the company quality standards deteriorated. The company would never intentionally put the lives of its customers at risk. 6. In your response you mentioned that marketing is not selling. Marketing might not be selling, but selling is one of the most important aspects of marketing. Accountants are not responsible for the sales of the company, but marketers are. The success of a lot of marketing initiates is measured in terms of how much revenues were generated due to the marketing initiative. To justify an ad campaign the marketer has to convince the manager that the project will increase the revenues of the company. Marketing has other important functions such as servicing the needs of the customers. 7. Marketing is a science because it analyzes information using models, theories, and concepts. The use of marketing can help a company increase its brand value. Branding enables companies to achieve higher sales at better profit margins. A product that has brand ...Download file to see next pagesRead More
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