Before taking this class, I thought marketing in nutshell was similar if not identical to advertising. Now i’ve learned that marketing does take into account advertising, but the primary purpose is to satisfy the needs and wants of the targeted customers. Another important factoring of marketing is to select the most efficient and cost effective ways to send a message to customers with the desire and ability to buy the promoted product. Throughout this course, i’ve learned about the complexity and strategically backed plans used by marketing managers around the world. Marketers take into account a multitude of factors backed by research to create the most value for their companies including marketing plans, how to segment a market, pricing strategies, consumer behavior, and buyer behavior.
An important idea marketing has taught me is the importance of having copious amounts of research to back any big decision. This is particularly important in the working world and something I will take forth with me after I graduate. The quality of research seems to be a recurring theme in marketing, harping on the opportunity costs associated with each decision. The quality of research relates heavily with another important aspect of marketing which is segmentation. Marketing heavily revolves around segmentation
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Whether this brand promotion be a company or one's individual self image both are equally important. On the external side of the classroom, I’ve self reflected on my own brand image, acknowledging the importance of promoting a positive image to the world around us. After examining a variety of different companies in this course, I’ve noticed the intangible assets a brand name can provide to a company or one’s self. Similar to a marketing manager using the four P’s, it’s important to utilize the factors we can control around us to promote the most efficient and effective message to