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Whitney_Phoon
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Whitney_Phoon is now following David Reich
Sep 22, 2010
Whitney_Phoon is now following Anna Farmery
Sep 22, 2010
In order to become a productive firm, marketers must obtain a strategy that would ensure that they’re going to be a profitable long-term investment. Overall, the objective of a marketer’s job is to satisfy a group of consumers who will buy their product, which entails profit. In order to appeal to the customers and organize how to go about with the marketing mix, marketers must rely on the 4 P’s. The 4 P’s coexist with one another because they are crucial variables that must all be looked at as a whole before it can satisfy the target. The organization of it all relies on the right product, then taking that product and figuring where, when and how it will reach to the customer. Then once a product is distributed, marketers must figure out how customers will then acquire knowledge about it (ads and suitable sales rep). Finally, firms must be currently aware of price mark ups and discounted sales so that customers feel they are paying the right amount for the product offered to them. This certain flow of decisions is arranged around the target market for the sole purpose of satisfying them. A personal example that would be relevant to this is the time I had to go buy boots. There was a variety of different boots with a wide range in price. Then when it came down to it, I wanted a pair that was durable, but still stylish and comfortable. At the time, Northface came out with a line of boots that fitted my criteria. They were even accessible at one of the hip shoe stores close by to me, so that was how I came about it. What made me even fonder of the boots were that they were on sale at the time I needed them. The boots have met and exceeded my expectations. As a consequence of my experience, I will shop for Northface products again.
Whitney_Phoon is now following Chris Conley
Sep 15, 2010
I want to address the criticism that,"Marketing serves the rich and exploits the poor." Personally, I don't think that marketers are purposely excluding lower paid people. Companies still uphold a wide spectrum of customer value, following the ethics behind it all. In all fairness, companies are at most, trying to find a median between what some people (the rich) and others would want. In the end, its all a big part of the macro dilemma. Some things might be good for a portion of society and then not so much for others. Also, its not that companies aren't taking into consideration what all customers value in a product, but there so many people to please. Not every little thing advertised is going to make every single person feel the same way about it. There's certain innovations that in order to help fluctuate profit in the economy, must be aimed at higher sales and a target group that is happy to spend that much for it. In the end though, firms still try to promote lower costs so that both sides can get what they want, without any penalties.
Whitney_Phoon is now following The Typepad Team
Sep 15, 2010