I’m stuck on a Business question and need an explanation.
In need of a 125 response/discussion to EACH of the following forum posts. There are (4) different Forum posts. Agreement/disagreement/and/or continuing the discussion. Original forums discussion/topic post is as follows:
Forum Post 1
Good morning Professor and class,
I would say I had some understanding that marketing was more than just advertising, but not to the degree that the video showed. I recently took on some of the marketing position in my current company, so that has helped me see what marketing means specifically to us. I work for a construction company, so I put together proposal for potential owners and the government, showing them what we have done in the past, and really selling our capabilities to them. Marketing will look different company to company based on the products they sell or customers they are trying to attain.
The video made it very clear that marketing is involved in all aspects of business and has everything to do with the success of a company. Most people believe it’s just promotion, but in reality it encompasses everything from price to the naming. In order for a business to be successful, it needs to have the right marketing strategy in place that fits the needs of that specific company.
Marketing’s entire purpose is to influence a consumers decision. Every decision they make is to present themselves to customers in a way that customers will chose their business or their product over any one else’s. It has also been found that customer responsiveness is directly related to marketing strategies (Krush, Sohi & Saini, 2015), so with a successful marketing strategy, a business can expect higher success directly related to customers.
Marketing can be both ethical and unethical depending on how it is presented. As long as companies are being honest, and looking out for the best interest of the consumer, than yes they are being ethical. However, according to Kotler (2010), “Violations of marketing ethics occur when products or services are described dishonestly or with a high level of exaggeration of the expected outcomes for the buyer.”
Kotler, P. (2010). Marketing ethics. In W. Visser, D. Matten, M. Pohl, & et. al., The a to z of corporate social responsibility (2nd ed.). Wiley. Credo Reference: https://search-credoreference-com.ezproxy1.apus.ed…
Krush, Michael, Sohi, Ravipreet & Saini, Amit. (2015). Dispersion of marketing capabilities: impact on marketing’s influence and business unit outcomes. Journal of the Academy of Marketing Science; New York, 43 (1), 39. 10.1007/s11747-014-0420-7
Forum post 2
Marketing is a hat I have worn in many places of employment. I was well aware that marketing is more than just advertising and plays a large part in the success of a company before watching the video. Advertising is only a piece of the marketing plan. Marketing is a research tool to help identify your target market and develop your branding, price point and promotional message to attract and keep that target market customer.
The ultimate goal in marketing is that a consumer will develop brand loyalty and blindly purchase the same product over and over instead of testing a competitor’s product. When my spouse has an option between two similar products he will almost always go with the tagline or branding he is most familiar with. A company puts a lot of effort into creative marketing like loyalty programs, free trials, coupons, and brand ambassadors to create brand loyalty.
Marketing has a major influence on consumer’s decision making. In a perfect world, marketing would be ethical but some businesses participate in unethical marketing campaigns and promotions. In the ’70s Nestle came under fire for aggressive advertising claiming their formula was better for babies than breastmilk when scientific research was proving the contrary. Claims were surfacing that desperate third world country mothers were diluting the expensive formula resulting in child deaths due to malnutrition. The allegations led to hearings in the Senate and the World Health Organization, resulting in a new set of marketing rules. (Krasny, 2012)
Consumers have the power to decide which companies succeed or fail; so, marketers should be expected to have ethical values like honesty and transparency when promoting their products. (Belyh, 2015) A marketing strategy comes with great responsibility not only to the consumer but also to your brand.
Belyh, A. (2015, Feb 6). Social Responsiblilty & Ethics in Marketing. Retrieved from Cleverism: https://www.cleverism.com/social-responsibility-et…
Krasny, J. (2012, June 25). Every Parent Should Know The Scandalous History Of Infant Formula. Retrieved from Business Insider : https://www.businessinsider.com/nestles-infant-for…
Forum post 3
Marketing plays a very important role in the organization by promoting its product and services. I learned alot from watching the youtube video it was very informative and presented a lot of great information. When dealing with marketing it has a lot to do with your organization dealing, expenses, wealth, distribution and more. For Instance, I could go on the internet looking for a product that I am interested in and then soon as I get on social media sites the same product I searched for pops up on my time line. When it comes to business reaching out to their target audience they are trying to have a long lasting relationship with them. It is a continuation technique that assist organizations in growth and prosperity for their organization.
Marketing has a very important effect on the success of an organization. If it wasn’t for marketing you will not be able to advertise or promote your product and services to customers. The business will not have anyway of gaining or influencing customers to purchase your goods or services. Marketing is what assist customers on finding products that will satisfy their needs at an affordable price. If you have a great marketing team that can promote your product, gain an audience, maintain, and run a successful business it could be on its way to entrepreneurship status.
Marketing is very important when it comes to influence customers to purchase from your organization. When using advertisements or promoting your organization it allows the business to attract customers that has gained interest in your product or services. Also, it allows the organization to advertise price negotiation when competing against other businesses. This could impact customers to purchase from your business rather than going to a different business selling the same or similar product.
Forum Post 4