1.I have really changed the way I view marketing: Many people including me thought marketing is only about promotions and selling products. First week in MKTG100 Lecture, we talked about Marketing. We defined marketing as the process of creating and communication including deliverance and exchange of offers that are value to customers (MKTG100, Lecture 2b).
I am currently a part-time in Top Juice as a team leader. Firstly, in this generation everyone wants to be healthy by eating and drinking healthy and delicious. Our job is to make sure the shop looks good; all products look fresh and colorful to attract people/customers. Also, the most important is to meet the customers need to satisfy them. Lately, one of the most important content online is the visual content. This includes photos which are posted online in social media platforms. The best way then to advertise and market goods online is using social media. Posting photos of goods and services offered helps to make the goods known to the public. (David 2001).
Top Juice uses social media platform such as facebook, twitter, instagram and blogs, to advertise its products. Recently, restaurants have taken a bigger opportunity in the market, to advertise, and deliver food and drinks of different industries. Such industries therefore accrue more profits as a result of this. All restaurant social media always share their special discount, photos of their new dishes and promote their own news accolades (James & Yen 2017). You will also see the restaurant details including address, phone number, hours and the current menu.
For all customers who come to Top Juice, we give them a loyalty card. This loyalty card is very useful since it gives the customer a chance to get some services, or goods for free within the specified time. If their loyalty card stamp were finished, we would offer to give them a new loyalty card to continuing offer to keep customers back.
Through all this marketing ideas from class, I used my workplace and today’s generation to understand marketing better by using social media, work experience and work strategies.
2.For any organization to be successful, it has to take marketing as a key factor. Marketing is the process through which a person or a group of people acquire what they want, by exchanging products which have value bestowed in them. (Kotler 2010)
By mixing various marketing strategies, trends and even changes, helps to make sure that the customers are motivated to buy and are happy. If such strategies are ignored, the sales of the Target Company or business start to gradually depreciate, customers become less and eventually the business may completely die (Uncles & Ellis 1989). Top Juice has applied different marketing strategies, for almost all the goods and services it offers. For example, When the enterprise decides to introduce a new product to the market, it will employ different strategies of marketing to ensure that the good or service becomes known to the wider public. If marketing is not done, such goods may take long time before the public becomes aware of them.
Additionally, marketing is important since it helps to make higher sales. It is through marketing, that services or products of a certain company are known to the public. When marketing is done, through the various marketing strategies, more sales are accrued. One customer may purchase the good, and then influence more others through a word of mouth, to purchase the same product (MKTG100, Lecture 2b). This might not happen if the product is not marketed.
Moreover, marketing helps to build the company reputation (Dwyer et al 2014). When goods of a certain company are advertised, they become popular in the market. By so doing, this helps to build the brand name of the business. When business reputation becomes wider, more customers get informed of it and therefore tend to purchase more from it, just because of its famous brand name. As a result the business ends up accruing more profit.
Lastly, marketing also helps a business to compete favorably with other businesses (Armstrong et al 2014). Marketing not only informs consumers of the company’s products and pricing concepts, but also sends an indirect message to other companies selling the same goods or offering similar services. Therefore, without marketing, a business may end up performing poorly in the market, where competition is relatively high
3.Yes. Marketers actually manipulate me to even purchase things I did not plan for. They do this through various ways. One of the most common methods is the odd pricing (Mistilis & Gretzel 2014). When a commodity in market is given an odd number, usually ending with 9, it creates an illusion in mind that such commodity is cheaper. For instance, if a mobile phone is given the price “AUD 199” more customers are likely to buy it compared to when the price tag is “AUD 200.”
Additionally, prestige pricing can also be used to manipulate people (Hair & Lukas 2014). When a certain commodity is priced at a high price, most people, including me, associate the product to be of high quality. This kind of psychological manipulation may lead a customer to purchase such a commodity. The strategy of “buy one get one free” also is used to manipulate customers. For instance, I usually find myself buying more soaps than I had planned, if I get this strategy applied on soaps. Unknowingly, I end up spending more.
4.Marketing subject has personally been of great help. It is through its’ knowledge that I know understand marketing in detail. To put into practice what I have learnt, I intend to start my own Smartphone shop, and apply the knowledge learnt in marketing to earn more profits. I am planning to market my products through advertisements. This will mostly be through the social media, since according to what I have learnt in this subject, it is one of the most successful and easy way to market products. My main aim in this business will be minimizing inputs and maximizing profits.
Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia.
David Barnes, 2001 (Understanding Business: Process)
Dwyer, L., Pham, T., Forsyth, P. and Spurr, R., 2014. Destination marketing of Australia: Return on investment. Journal of Travel Research, 53(3), pp.281-295.
Hair Jr, J.F. and Lukas, B., 2014. Marketing research. McGraw-Hill Education Australia.
James, B. and Yen, B.T., 2017. A critical appraisal of individualised marketing and travel blending interventions in Queensland and Western Australia from 1986–2011. Travel Behaviour and Society, 8, pp.1-13.
Kotler, P., 2010. Marketing in Australia. Prentice Hall Australia.
Mistilis, N. and Gretzel, U., 2014. Future eDestination marketing: perspective of an Australian tourism stakeholder network. Journal of Travel Research, 53(6), pp.778-790.
Uncles, M.D. and Ellis, K., 1989. The buying of own labels. European Journal of Marketing, 23(3), pp.57-70