Business // Diversity and Inclusion
Diversity and Inclusion
Over the years the practical application of marketing has significantly expanded reaching global expansion level. Gone were the days when marketing a product was simply limited to words of mouth, print advertisements and the traditional broadcast media. Today, given the advancement and breakthroughs in technology marketing has been made easier and more accessible to a huge market. The creation of the different platforms paves the way for the immense success of marketing especially in the field of social media marketing.
In addition, the concentration that the field of education particularly in business and management allows many industries, advertisers and marketing experts to understanding the most important concepts and principles embodied in business process operation beginning with the formulation of idea to execution and delivery of the final output to end consumers. However, it is imperative that the fundamental core concepts of marketing are achieved in this process especially taking in mind the objective of addressing the needs of the consumers.
In the discussion of the core concepts of marketing it is the author of this paper’s objective to address the following concepts of marketing in this paper. These concepts were to include: (a) needs, wants and demands, (b) products and services, (c) value, satisfaction and quality, (d) exchanges, transactions and relationships, and (f) markets.
In this paper, the author assumes the role of an internet marketing expert for a particular communication service provider. To further expound on this topic, the proponent will provide the scope of the discussion before laying out the strategies and the values of how the role would be assumed under the specified role of marketing.
Contrary to some of the common misapprehension on the concepts and principles of marketing, it is not just limited to the art of endorsing and promoting a product. In fact, its practical application extends to several other dimensions of increasing the market share through the use of marketing strategies. Kotler defines marketing as the managerial and social process that enables users and consumers to acquire the products and services that would satisfy their needs, wants and desires through the exchange of values (Kotler and Keller). The consumer exchange money to the producers and service providers for a particular product and service. Simply put, marketing is ensuring customer satisfaction in exchange for profit.
These core marketing concepts can help the proponent in capitalizing what the consumers’ general need, want and demand from their communication provider. Specifically, as an internet marketing consultant the proponent could create articles or write ups about the communication provider. These articles should be bombarded with keywords that are frequently associated with communication, data services, mobile communication, text messages and multimedia messages and applications. To do this, the proponent needs to identify the possible keywords that might be associated with the product or service being endorsed. To satisfy these core concepts, the proponent needs to conduct surveys to know what every subscriber’s needs, wants and desires are.
In economics, demand is a principle that quantifies the consumers’ desire, ability and willingness to purchase a particular good or service at a certain price (Colander, 2008). It therefore, refers to the degree of the consumers’ desire for a product or service. Quantity demand on the other hand, is the amount of a product or service that people are willing to purchase at a given price (Sullivan & Sheffrin, 2003). Consideration of the time should also be given importance in analyzing the demand. That is, at what point consumers are buying the product.
A demand analysis is necessary to project the success of a product in the market, which will help determine the factors for success or failure as well as to develop strategic ways of improving performance (Henderson, 2008). For the purpose of this study, a demand analysis will help the proponent in identify the purchasing behavior of the communication services subscribers especially in their capacity to pay and willingness to buy the product. Internet marketing is loosely defined as creating ads and posting it in the internet via different websites, emails and other channels under the vast world of the internet (Goldfarb and Tucker). The other term used to refer to internet marketing is online advertising. This form of marketing as defined by Goldfarb and Tucker utilizes the potentials of the internet to promote important marketing message to the consumers.
However, there are many different sub-levels of internet marketing. Among these include email marketing, search engine marketing, display advertising, social media marketing and mobile advertising. These sublevels of internet marketing use distinct approach and technique but it all amounts to ensuring sufficient product exposure for better brand recognition and for increase profitability. As an internet marketing expert for a particular communication service provider the proponent will assume the role of the company’s advertiser and promoter in the internet. As an internet marketing consultant, the proponent needs to understand the company—in terms of its mission and vision statements, its core values, its target market, the organization’s product portfolio and the supply chain system of the organization. These factors are necessary to ensure that the delivery of the proponent’s responsibilities is in accordance to the organization that it works for.
Reference
Colander, David. Macroeconomics. New York: McGraw-Hill, 2008.
Henderson, David. The Concise Encyclopedia of Economics. Indianapolis: Thye Library of Economics and Liberty, 2008. 111-113.
Goldfarb, Avi and Catherine Tucker. “Privacy Regulation and Online Advertising.” Management Science (2011): 57–71.
Kotler, Philip and Kevin Lane Keller. Marketing Management. New Jersey: Prentice Hall, 2006.
Lawrie, Gavin and Ian Cobbold. “Third-generation Balanced Scorecard: evolution of an effective strategic control tool .” International Journal of Productivity and Performance Management (2004): 611–623.
Sullivan, Arthur and Steven Sheffrin. Economics: Principles in Action. New Jersey : Pearson Prentice Hall, 2003.
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