Marketing strategy and society

Marketing strategy and society

What is marketing?

Marketing is the provision of goods and services to potential customers. Marketing involves selling and buying of goods and services which are needed by customers. A market consists of suppliers and consumers. Suppliers make goods available to the population making them principle components of a market. A market also consists of consumers who are in charge of determining the rate of demand in the market. The demand and supply shifts on several occasions and affects the activities of the market as a whole. When there is a shift in either demand or supply, the market forces will have to regulate so that equilibrium can be achieved. Marketing is thus an activity that occurs on a day to day basis. Without marketing, the economy cannot be unsustainable and therefore cannot grow (Silk, 2006).

2.

Market penetration

Market penetration involves venturing into a market that has not been fully exploited. The company should sell vacations to more people who have access to internet by exposing them to the type of services that you are offering. This can be done by making the company’s website accessible to potential customers. A list of potential customers can be retrieved from a database that has regular customers. Look for a quality that the vacation has which has not been exploited by the company’s competitors. This can be providing transport right from their door step to their return.

Product development

The company can sell insurance covers that cater for the whole vacation from the transport to medical bills in the event of an emergency. This can be complimented with a doctor on call which secures the customers well being when away from home. The company can establish different packages for their clientele by to suit their needs. They can provide safari packages or five star hotel services

Market development

Broaden the company’s internet marketing service by improving the number of people that have access to the website. Marketing through the internet is different from the regular marketing. The company can register with websites that sell this service improving their access to new market. This will further advertise the business thus reaching the market that has not yet been tapped.

Diversification

Apart from selling the vacations online, use the company’s position in the market to focus on other services such as the provision of internet service to customers who do not know how to manage their websites. This business will concentrate on the creation of websites for people who want to market their goods using the internet. The new company will thus be an internet solutions company that solves all issues concerning the net (Wright, 2006).

3. A product which I think cannot be substituted

Majority of the goods and services have substitutes which can act as replacements in case one or the other exits from the market. This has caused a substantial amount of competition so that producers can make their products to the preferred choice. The service that I think cannot be substituted is hospitality. Hospitality in marketing is the provision of customer care and concern when dealing with customers. If hospitality is removed from the market, no alternative service can be substituted in place of hospitality (Brenkert, 2008).

4. Marketing is an Art as much as a science. What does this mean for a marketer?

This simply means that marketing had to be studied so that it can be perfected by anyone who chooses to take it on as a career or a course. Marketing is all about branding and forming a perception. These are qualities that are artistic in nature in that when a complete product or service is put together, it groomed to perfection. For one to be a substantial marketer, they need to master this quality so that they can be successful. In the case of relating marketing to a science, marketing has a set of rules and principles that if not followed will not apply in the trade. One should thus be aware of the components of marketing if they are to try their hand at marketing (Kerin, Hartley & Rudelius, 2011).

5. What parts do you agree with? Are there any parts you would find difficult to agree to?

I agree that all marketers are expected to follow an ethical code so as to protect the needs of the customers. Despite this, it is evident that it is difficult for marketers to maintain these principles due to its nature. One of the areas that I strongly oppose is transparency and honesty of most of the marketers. Marketing involves the selling of goods to the general public. The public is exposed to a number of products that increases the rate of competition in the market. For a business to compete with their colleagues, they need to market their products and services. This has led to marketers overrating their goods and services ignoring most of the ethical marketing principles. This as a result, has led to the elimination of marketing ethics due to the advertising scams that are realized after consumers purchase a product or service (Brenkert, 2008).

6. What are your feelings about companies that engage in this kind of social and community action? Is it out of genuine care for the community or just another way to increase sales?

My feelings about such companies are negative. For a company to sell their product or service, they need to form a perception about the goods and services they are marketing. All companies that are members of this group have the same qualities in that they up sale their products so that they can increase their sales. It is thus difficult to take this association seriously due to the fact that marketers are one and the same. Engaging in social and community action is one of the ways that companies use to improve on their image. The fact that the companies are registered in this association means that they have increased their sales due to association. This on its own is a marketing tool which the companies are using to better their place in the market. (Armstrong & Armstrong, 2009).

References

Armstrong, G., & Armstrong, G. (2009). Marketing: An introduction. Harlow, England: Financial Times Prentice Hall.

Brenkert, G. G. (2008). Marketing ethics. Malden, MA [u.a.: Blackwell.

Kerin, R. A., Hartley, S. W., & Rudelius, W. (2011). Marketing: The core. New York: McGraw-Hill/Irwin.

Silk, A. J. (2006). What is marketing?. Boston. Mass: Harvard School Pr.

Wright, J. (2006). Blog marketing: The revolutionary new way to increase sales, build your brand, and get exceptional results. New York: McGraw-Hill.