Learning reflection overview

Answer

Introduction

Marketing is a significant activity in any organization that wants to remain relevant nd make profit. It involves a verity of activites that include pronotions, advertiements and selling the products and services of an organization. There are certain important concepts of arketing that should b eput into consideration in ordr for an oranizatio to positively feel that imact of marketing department. Such concepts include production, product, marketing, selling, and societal marketing concepts. In order to assess my underdtanding of the course, I have chosen two reading from which I have idefined thre marketing thems that have been discussed by the authors. Additionally, I have also I denitiied marketing topic in of the case studies provided. Lastly, I have provided my perception about the transformation of marjeting and how the futre marketing shll be affected.

Reading one

First reading

Ahmetoglu, G., Furnham, A., & Fagan, P. (2014). Pricing practices: A critical review of their effects on consumer perceptions and behaviour. Journal of Retailing and Consumer Services, 21(5), 696-707.

Ahmetoglu et al. () have discussed important marketing them which I havealos learned in the course. The first is product differentiation. According to the authors, product differeantion is what an organizations\’s product r sevice unique to the target audience. It how an organization distunigieshes what they sell fro what the competitor sell. It incrwase sales, growth, and brand loayalty.the main goal of product differation is to create a copemetive advantage or a producr superior to the ones that are available in the market. In its simpe meaning it is not about standing above the cmpeteion.  The second  marketing theme that has been hihleife by  Ahmetoglu et al. () is consumer perception. customer perception' refers to customers' awareness, their impressions, and their opinions about your business, products, and brand. Customer perception is shaped by multiple variables, including direct and indirect interactions with your offerings. One of the most important factor that determine consumer percepetion is companysl social responsibility. Customers have been made aware that companies that articipate on social matters such as protection of the envroment nad helping the needy have their customer at heart. Additionally, interaction with customer that include customer service in important factor that bring about good consumer perceoetion which attract more cutomers. Lastly pricing strategy. This is the most important marketing them that Ahmetoglu et al. () have mentuoioned in this reading. Notably, pricing is an important factor of marketing. It is determined by a veriety of factors that competitirs prices, buying ability and proejected profit. () argues that organization should be very strategic when setting their prices as high prices scare away customer who the look for alternatives while too low prices cast doubt on thye quality of products.

Second reading

Verhoef, P. C., Kannan, P. K., & Inman, J. J. (2015). From multi-channel retailing to omni-channel retailing: introduction to the special issue on multi-channel retailing. Journal of retailing, 91(2), 174-181.

Verhoef et al. () have also discussed important marketing thems that most organization put into practice. The first one is pricing strategy. According to the author, pricing will continue to influence the decision of the customers. They notice that in the current set up it has minimal influence since customers look at the value and quality of an item before purchasing hence too low prices are associate with inferior or low quality products. Another makerting them that has been mentioned in this case and which very important to me is channls of marketing. It is important to note that marketing has been transforming from traditional methods of marketing to digital ones that currently use technology. The authors highlight the importance and power of social media as the current tool that most organizations are using since it targets the youths who are also the major consumer of most products due to their number.  Other marketing channles such as Radio and TV advets have also been metntioned as important for marketing organizations. Channel of marketing are among the most important issues that I have learned in this course. Others include billboards and flyers. Lastly, Verhoef et al have also discussed consumer behavior accros the chennls. According to them, consumer tend to like digital marketing since it not only cheap but also fast. The social media as a channel I s very important for customers since they can esily chat or communicate with the salespeople unlike Tv where they only the adverts.

Case study

Mizzie the Kangaroo Case has presented significant marketing topics that aree important for any that wants  to remain competitive and relavnt in te market. The first topic is target cutomer. This a group of individuals or consumers at wwhich a company aims its products ofr services. This group is likely to buy the products of the company. In order to lcate and identify the targe customer as presented in the case, an organization must understand the profile of this particular group, there needs and purchasing power. For example, it hard to make profit when selling pork among muslims. Although some of theme consume pig’ smeat majority do not based on their religion. 

The second marketing of importance that has been revealed by Mizzie the Kangaroo Case pricing strategy. It is the method by which organizations price their products and services. According to () pricing is one of the nost impotant way of attracting customers. There are several issues  to consider when pricing. One factor is competitor action. When pricing one must consider what thet competitors are charging and hwo they will react an organization increases or reduces te parice of aprticullar product. Another issue to cnside is buying ability of the cutomer. It is important to note that one company can charge different prices of one item simply because the nuyi9ng ability of the customer is different. Another factor to consider is trade margin and input cost. In all circumstance organization price their product in a aamnner that tey must trealize profits of the items. As stted in Mizzie the Kangaroo Case organization should be very careful sduring so that it is not too low aor too high. According to customers always doubt the quality of an item if it s priced too low. On the other hand, they are scared by high proes and always look for options.

The last marketing topic that has been presented in the case is product value. Product value is the benefit that a customer gets by using a product to satisfy her needs minus associated costs. Complexity is the effort associated with delivering such a product to the customer. Personally, this is the most important marketing topic that has been evealed I thaicae. Based on my experience most of the top organization  focus on value before any other thing. For example, Apple Inc. produces some of the most expernsive phone, laptops, and ipads and still rank the best in technological industry. While there several organizato such as Dell and other phone manaucaturing company that price there products fairly, Apple stil beat them interms of profits. It therefore means that the value and quality becomes a priority of most customers. Customers consider quality fast then prices later. As presented Mizzie the Kangaroo Case, its products are of high quality and have several awards based on reviews from customers in terms of quality.  This scenario urges markerts that in order for a product to attract a considerable customer base, they should first consider the quality of their products and later consider other factors such as price and custo0mer target.

Markerting as a function is has aundergone temadous transformation. With the technological reviolution, orbanizastions have been adopting different marketing strtaegies that go along with technology. It is importamt to note that marketing has been existing since the ancient times. During those times seeral sellers were persuading buyers using their communication skills t have interest in a product and if possible purchase such products. In other contries such Rome, gladiaotors were paid to wear products so that a big sudience r customers could  hve  aglance of the products and possibly but the items. However as times goes, and with the technological revolution, the strategies have been changing. Ffor example a decade ago, individuals went to one  website to look for an information bout a particular product in order to make decision. However, today information about productes are everwhere with customer reviews that guide idividuals to make proper decision about a product.

Irrespective of marketing styles and strategy I hold the perception that the transformation of marketin over time has been contributed by the technological revolution. Before the technological revolution, and particularly introduction of internet and its spread glaobaly, marketing was ttaditional where individuals use to walk from one place to the other either with the actulal product or a sample. Door to door which is still a  way of marketing was followed by signs and posts and billboard that have been used to sdispaly items their use, and their advanatages. A study conducted by reveals that these billboards do not attract a majoriyu of audience since only a few people can see them and paryicularly peole who stay around such sign posts. Later the use of TVs and radio became one of the most fundermantal ways of marketing that is is still being used to date.a study conducted by revals that a busy TV station can display more then 5000 dans in a day. Additionally,TV or Radio ads reach several people across the glob hence poosibility of n item selling even over oversea.

Today, business have resorted to the use of internet as a one of the major form of advertisements. Organiatons have their websitesm sovail media accounts such as Facebook, twitter, and Instagram wgere het can easily converse with custiomers while advertising their products. () add that majority of individuals have niternet particularly the target groups wgich are the youths. Most of these youths subscribe to these social networhs where theu vcan easily and cheaply inquire about a product order and delivery is done by the organization.

Based on the above explaination I believe tha one ofr the major influever of marketing that has also contribute to its evolution is technology. With techniplogical development, peole find or come up with different ideas through which they can rach the customers convince them and even deliver the products at the door steps. It also important to note that each and evry time ther is an invention hence there is lilehood that there w ill be new technologies that will emerge that will still influence marketing and its methods. Although it accurate to acknowegede the fcat that the traditional forms of marketing have not been completely eradicated as a result technological marketing, there use have been reduced to complement technological marketing and reach individuals who are not pro tectnology. It is in this context that for any organization that wants tto remain relavant and competive now and in fy==uire, it is important for them to heaviliy invest in  technology since it is the cornerstone of the current and future marketing.

Conclusion.

Marketing has certin concepts that are important in order for it to provide posive impact to an organization. Based on the reading some of the imperative concepts or themes include pricing strategy, product differentiation, target customer, marketing channels, and behaviors of consumers accros marketing channels. One of the most important thing that I have learned that soacilmedia aerketing is growing at a faster rate hence should be cnsidred n=by all organization. My perception about the the transformation or evolution of marketing is that it determined by the technological revolaution. As technology changes, certain wways of marketing emerge, hence i=even future mwans and methods of marketing will be determind by technology.