The paper "Personal Perspective on Marketing" is a perfect example of marketing coursework. My understanding of marketing is informing the customers of the presence of products and services, engaging the customers on the benefits of the products and services, and availability of the products and services in terms of costs and locations. It also includes specific aspects of the goods and services, which can advance their respective personal needs and requirements. According to my understanding, marketing is analyzing the market dynamics, comparing the products and services to competing agencies, and documenting the strengths and shortcomings of competing products and services.
Marketing also aims to understand customer satisfaction and ironing differences, whether negative or positive, which the customer has experienced. It involves coordinating and collaborating with different organization departments in advancing the general aims and objectives of an organization. It brings together the different departments in ensuring the products and services reflect the wants and needs of the customers. The design and presentation of the product and services incorporate the views of the customers, meaning the marketing department has to engage with the design department to create, manipulate or even change the product to suit the requirements of the customers.
Hence, marketing is an important component in advancing the requirements of any organization and without marketing, it becomes a challenge for an organization to become successful. Marketing is an integral component of any organization since it enables getting the word out. It permits communication with the customer in engaging the customers on what is offered, benefits of the product, and assists in discovering of prospective customers. Marketing increases the chances of more purchases resulting in higher sales because information on the products and services spread to more customers.
It is imperative to note, without sales, it is impossible for an organization to succeed. Marketing also builds brand recognition with strategies such as meeting the high expectations of the public, and the growth of reputation of the company contributes to increased sales. Marketing champion healthy competition because the different organizations have to engage the customers and employing different marketing strategies such as pricing to satisfy the requirements of the customers. Business environments, which are monopolistic in nature “ steal” from the customers and the presence of marketing ensures the customers are informed of products and other variables associated with the product. Reflection on Me as a Consumer As a consumer, I am influenced by numerous things and variables in acquiring products and services.
The driving force is the need and requirements. It involves aiming to address something missing, and this is called identification of the problem. It can also be viewed as consumer behavior since the decision-making process for consumers takes phases. After identification of the problem, I start searching for the solution or utilize past experiences to determine the product or service that addresses the need and requirement.
In addition, my family members can guide me in decision making because the society and community sometimes influence the decisions I make as a consumer. In acquiring the right information about the product, I search online and seek information from friends and close associates. Obtaining the information is a form of marketing because these individuals’ present views based on personal experiences, and information obtained from third parties. The quality of the product and service encourages a word-of-mount method of marketing meaning building a strong brand is an information.
The information also comes with the location of which I can acquire the service and product. Easiness of access to the service and product enables me to make informed decisions and whether it inconveniences me when I decide to acquire the product. I then acquire the product, when it is a new product such that I have never used it, I gauge the quality and other variables associated with the product. The gauging is based on previous experiences especially on similar products and services that I have used.