Marketing in success of any business - Essay Example

? Situational Analysis Essay College: Situational Analysis Essay Marketing plays a great role in the success of any business but only a few marketers are able to achieve the success due to high and stiff competition involved. This has led to some companies to indulge in unhealthy and unethical plans so as to emerge the winner in the competition but unfortunately, they have in the long run found themselves making insignificant profits or making total loss. As the world gradual growth to become a global marketplace, every business owner find themselves trapped in the sticky web of the market competition and getting out of it becomes a nightmare. However, any entrepreneur can play his or her cards well and emerge victoriously in this market issue by making use of the Holly Scriptures which will provide a guideline of marketing in a divine way. For centuries that have passed, the Christian bible has remained relevant in its teaching it is believed that whoever is guided by it is doing the right. Hence, the Bible has become applicable even in businesses since anyone transacting a business is expected to maintain some biblical ethics regarding the business. Therefore, this paper cannot be termed as complete without quoting some verse from these Holly scriptures called the bible. In relation to good marketing or advertisement, the bible states, “It is better not to vow than to make a vow and not fulfil it. Do not let your mouth lead you into sin. And do not protest to the temple messenger, “My vow was a mistake.” Why should God be angry at what you say and destroy the work of your hands? Much dreaming and many words are meaningless. Therefore stand in awe of God” (Ecclesiastes 5: 5-7). From the verses biblically point of view shows that it is not in order to promise something you do not have for the purpose of making profit. The bible continues to elaborate that the this cunning habit in business may be fruitful in its first stages making one make a lot of profit but may eventually lead to a detrimental loss in the business as well as personal life. This is a reason that one is encouraged not to cheat others and remain truthful throughout their life by fearing God and the people who become customers or clients in any business. Finally, it is not in good order to cheat as one carries a burden of remembering what he or she said and may at long last lead to someone's destruction. The best advertisement is a pillar of any business success and no matter what one business is, having a well planned marketing strategy is of great significant value in business prosperity (Parente, 2004). If no advertisements are made for the products and services offered by a business, then it will be a tough mountain climbing game for ones’ business. Having the adequate knowledge about an effective business advertisement allows one to have good plans to pull off better results (Hackley, 2005). Firstly, in order to have an attractive and effective advertisement to a potential customer, the advertisement has to be memorable because if the potential customer can not recall what the advertisement was talking about or the product being sold, it becomes a waste of time and resources (Copley, 2004). The ability to remember about the advertisement is usually the stamp of a result oriented advertisement. Secondly, the target population is another concept that a business should pinpoint as not everyone will be satisfied with goods and services produced by a company (Copley, 2004). This identification of a target group helps one to know where to do their advertisements (Hackley, 2005). Thirdly, an advertisement needs to be entertaining to the potential customer making them more attentive when watching the advertisement or listening to it over the radio. Lastly, the advertisement should be eye catching and focused to achieve the maximum attention from viewers thus requiring one to select the best design for the advert. A number of economists and other brainy fellows are not happy about advertisements with little information as they are believed to cause wants and distort tastes and preferences. Despite a consensus that wants are as a result of advertisements it is differed about them changing tastes. Therefore, there exist some advertisement theories and models which are of paramount significance of the market today. An interview session with one of the highly positioned employee of Nordic Brand shows how people have different attitude about the theories (Mackay, 2005). Also a research has been carried out on customers of companies making use of the advertising theories and models in order to see how these theories are picked up by the customers. This study major focus is to locate any traces of the theories and models in any business that is trying to win more customers. The theories of good advertisement is to find out the track an advertisement places a customer before making his or her first purchase as a result of the advertisement (Mackay, 2005). Advertising is as a result of good marketing communication and to have an outstanding advertisement and the development must progress from the beginning. Literature has claimed that for any advertisement to be successful, the company involved must have the whole knowledge of the whole process. A number of theories of good advertisement are used but there are three main ones which are highly applicable to reality (Mackay, 2005). One of the advertising theories is the AIDA which was started by Strong in 1925 and it is a habitual theory whose main intention is to create awareness, motivate and cause a customer to make a purchase. The theory has been found to be more enticing and it is said to indirectly affect our thinking and it suggests that for an effective advertisement, it has to command attention, stimulate interest, and increase the desire of owning the product and finally the action of buying (Mackay, 2005). The theory insinuates that that for an advertisement should memorable with messages which are believable compelling the customers to act in a definite way. This theory is the strongest of all the others and increases the sales of products and services. The other theory is the DAGMAR which was created by Russell Colley when he was preparing the Association of National Advertisers report and the report was entitled as Defining Advertising Goals for Measured Advertising Results (DAGMAR) (Mackay, 2005). Its main aim for its creation was to encourage measurable objectives for each stage of communication and not necessarily dealing with the message as its main focus is the understanding of an organization by a customer and result measurement of an advertising campaign. For this theory to be relevant, a customer must have awareness about a product or a service, comprehend, get a conviction and finally buy. Therefore, this theory is of great significance in marketing of products and services (Mackay, 2005). Finally, we have the Lavidge and Steiners Hierarchy- of- effects model which was founded in the same era as DAGMAR and it was named the hierarchy- of-effects model. With reference to this model, a customer is not seen to behave automatically from being uninterested in being interested in one step (Hackley, 2005). This theory shows the steps assumed by an advertiser that a consumer passes before making a purchase of a product and it is made up of seven steps that must be accomplished linearly. Not only is this theory having more steps but also how to move along the steps make it different from other theories mentioned above. However, it is believed that a potential customer may sometimes move several steps simultaneously. The theory steps start with the awareness of the product's existence, know how of what the product has to offer, liking of the product, preference, conviction and finally the actual buying of the goods and services. This theory also has a principle that advertising does not happen in one day but a long period of time which may not lead to an immediate response from a customer to purchase. With this theory each and every step count for an effective advertisement to take place and leading to more customer attraction. The most important things valued by mankind is wealth, power and pleasure and lack of these things may make a man very cruel in order to achieve them which is opposite to what God want as taught from the bible. It is believed that those who obey God are more joyful and have peace that can not find a match in the world. When advertising, anyone with biblical teachings about respect for all people may have false advertisement since there is a divine intervention to be humble and not only look about the profits one will make after the advertisement. Honesty is another virtue as business marketing is concerned and an honest person will do his advertising in an honest way as so as not to damage his reputation and the image of the business. In the past couple of years, the Nike Fuel Band has made a tremendous improvement by personalizing its products and offering customers high quality exercise wear and thus increasing its sales and making it a global leader in this exercise wear industry. And with its strengths, every athlete must have the right the right attire and a website called ‘get all geared up’ have been of great assistance for someone to find the best gear for any sport (Wakefield, 2012). The company has allowed their customers to express their individual styles and believes that anyone who has a body is an athlete. This means that Nike targets everyone in the world and it tries its level best to motivate and inspire its customers. Therefore, Nike has left its competitors in defense mode due to id highly advanced technologies and new ideas. However, Nike products are at high prices making it maintain its high profits without the regard to its customers and not do the customers complain but also the workers of the company are poorly paid as it was seen in Vietnam (Wakefield, 2012). Also, apart from workers exploitation, their working conditions are also poor leading to negative criticism of the anti globalization groups. In addition, as Nike operates internationally, it is highly affected by currency value fluctuations which can lead to losses. As the competitors become more aggressive, Nike highly manufactured products reduce the profits earned due to customers who are price sensitive opting to buy the products elsewhere. Therefore, the company is in big war of maintaining its reputation in the financial crisis of today. Lastly, Nike makes use of waste materials through recycling to manufacture its products thus encouraging recycling and hence boosting the economy (Wakefield, 2012). Nike does not only make sports ware but it has also indulged in manufacturing of sunglasses and jewelry making it brand to be globally recognized and thus enabling them to reduce their controversy in their trade and manufacturing process. In conclusion, a Christian perspective of marketing has been analyzed giving direction for one to follow for a successful business. The bible has been a good guide for decades and those following it in their business marketing. Advertisement is a great pillar of the company's success and several theories have been put in place to tackle the same. In reality economics is a topic of concern in the bible as the whole of book of Proverbs and Jesus teaching tells more about how we should not dwell so much in accumulation of wealth and guideline of how to manage finances. The Nike fuel band has capitalized on its strengths and opportunities to overcome criticism that it face from its competitors. References Mackay. A., (2005). The practice of Advertising. Sydney: Elsevier Butterworth-Heinemann. Copley, (2004) Marketing Communications Management: Concepts and Theories, Cases and Practices. England: Oxford Publications. Parente, D., (2004).Advertising Campaign Strategy: A Guide to Marketing Communication Plans. Ohio: Thomson/South Western. Hackley. C., (2005). Advertising and Promotion: communicating brands. London: SAGE. Wakefield, K. (2012). Content Strategist: Nike’s Rebanding Itself. Retrieved from: Read More