Introduction To Marketing Theory & Practice Essay

Question:

Discuss about the Marketing.

Answer:

The word marketing refers to the art of promoting or selling products and services which includes advertising and market research. In other words, it is the study or management of relationships exchange. It is the way of delivering, exchanging offerings and communicating with the customers, partners, clients and the society at large. It is used to satisfy the clients or partners or the customers of a company (Jobber and Ellis-Chadwick 2012).

The essay focuses on the marketers’ incapability in directing their target markets towards sustainable consumptions. Marketing is one of the key focus areas for any organizations, who look for faster and better results and also greater returns from their investments or marketing budgets.

This essay highlights the areas where marketers lack their capability in order to meet the customers’ expectations which give rise to a gap between the management perception and the consumers’ expectations or the target markets. At times, the provider cannot perceive correctly the needs and desires of the customers. It also includes the steps to identify the target markets and the areas of improvements.

While planning a business, it is important to thoroughly understand the target customers or markets of the organization. Understanding the target customers or markets helps the organization to understand what exactly their products and services would be and what sort of service tactics would work best. Nowadays, marketers are not doing enough in directing their target markets towards sustainable consumptions (Baker 2014). This leads to a gap between the organizations with its target markets. Firstly, the gap between the management perception and the target markets arises when the marketers are incapable of understanding the needs or demands of the target audiences. Secondly, even when the management is able to understand the needs and demands of the customers, due to the marketers lack of good performance the gap gets created between the organization and its targets. Thirdly, some organization even after having good services may not get adequate advertising or media publicity. This is disadvantageous for any company or organization, which is a result of marketers’ incapability (Proctor 2014). Fourthly, in this era of digital marketing, marketers should focus on that segment of marketing, to reach the international market. It would be beneficial for any organization or a company to reach a wide range of customers.

The sole purpose of the marketers is to deal in the market and promote or sell a product or any service. Organizations spend a percentage of their revenue on marketing their company. If the marketers are inefficient, then it would be the company’s loss. Therefore, marketers need to understand the company’s targets and strategies and identify their methods of marketing in accordance with that (Mata and Quesada 2014).


Firstly, the marketers need to identify the company’s targets and do a research on that. It is important to understand, what needs the product or service fulfills and who is the target audience, based on that marketing should be done. For instance, a baby product’s marketing should be done in a soft manner, keeping in mind the target audiences are the mothers. It should be kept in mind that a company’s success depends on the way its marketing is done. Therefore, marketers should identify the targets and exercise their tasks in accordance with that (Armstrong et al. 2015). Secondly, the marketers need to sharpen their focus. Their priority is marketing and hence, they shouldn’t change their focus from that. If a marketer is not focused on his/her work then he/she may end up doing something wrong which will mar the organization’s image. For instance, if a baby product’s marketing is done in an offensive way, it may offend the society, marring the organization’s reputation. Consumers will stop buying products from that company, which will result in huge loss (Palmer 2012). Thirdly, poor research of the market leads to failure. If the market is not being studied or researched properly and the marketer’s efforts and predictions are wrong about the demands of the consumers’, then the marketing will go wrong. Fourthly, underestimating the competitors may lead to severe consequences. Most of the marketers make this mistake of not understanding their competitor’s strengths which is totally wrong. The marketers must understand the nature of their competition and work on their strategies accordingly. Last but not the least, marketers, at times, doesn’t utilize promotional tools properly. Thus, poor promotional activities cause damage to the organization’s efforts (Mata and Quesada 2014).

To conclude, marketers are responsible for the organization’s reputation. If the marketing is not done correctly, then the organization suffers the consequences. Poor marketing results in poor results and huge losses. Lack of unique strategies can hamper the organization’s progress. No matter how small the organization is, marketing should be done properly as it is the powerhouse of any business organization. Moreover, with the advent of digital world, it is very easy to market anything and at any point of time. Hence, digital marketing must be done which will be beneficial for any industry. It helps the organization reach the international markets and gain mass attention.

References

Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction. Pearson Education.

Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.

Jobber, D. and Ellis-Chadwick, F., 2012. Principles and practice of marketing(No. 7th). McGraw-Hill Higher Education.

Mata, F.J. and Quesada, A., 2014. Web 2.0, social networks and e-commerce as marketing tools. Journal of theoretical and applied electronic commerce research, 9(1), pp.56-69.

Proctor, T., 2014. Strategic marketing: an introduction. Routledge.

Palmer, A., 2012. Introduction to marketing: theory and practice. Oxford University Press.

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