Change of Perspective

According to Theodore Levitt, shortsightedness in business, especially in the department of marketing, is the beginning of the fall of a company. It is common to imagine that if the sales are increasing, then the business is doing well in promoting its goods. However, this appears to be restrictive thinking as in this way a firm will only looking at its present, thereby failing to find methods and techniques with which to tackle the future (Levitt, 2019). If a company fails to monitor trends in its area of expertise, then it becomes increasingly difficult for it to perform better in the future as it does presently.

This introductory marketing course illuminates the significance of careful strategy and the consideration of a perfect mix of the price of a product, the commodity in question, advertising methods and the place or location of business (Armstrong, 2015). If a company creates a perfect relationship of all the four elements by prioritizing on the consumer’s needs, then the chances of the organization facing all kinds of weather in the industry increases. The course also brought into perspective the difference between marketing and selling. Selling has a concentration on the desires and objectives of the trader. On the other hand, marketing has a genuine focus on fulfilling the needs of the client, in the hopes of making sales. The epiphany, courtesy of this introduction to the marketing world, is that a corporation using the perspective of a customer stands a better chance of surviving the present and the future, than that which only bases the success of their company on the needs and desires of the organization itself.

I also came to realize, courtesy of the unit introduction, that starting a business with foundations on an idea that does not satisfy the needs of targeted need in a population is all but a gambling move that will result in little accomplishment in the end. The process of marketing should involve the growth and development of products designed to meet specific, targeted needs in a population. For instance, a global manufacturer of cars should not see itself as only in the automobile scene but instead as a participant in the transportation industry. This reasoning would then help its workforce to develop products that adapt to contemporary trends, ensuring that the future of the organization is safe and secure, at the hands of the consumer. This change of perspective means that a company should be in apposition to be an innovator an early majority that taps into modern ways of appeasing customers that are most definitely customer-oriented and concerned with prospects.

Surprises in Marketing

There are a considerable number of surprising things that I have been able to learn through this course. Firstly, anything is marketable. An individual or organization with careful consideration of a gap in a population coupled up by a good strategy can package anything to fit the needs of a consumer. It, therefore, is imperative that one first determines an existing need or a trend in the market to able to the successful sale of a product.

Another surprising fact is that marketing involves the sale of an idea, place, article of trade or service, and not an organization or a piece of information. Many people start up shops with an inferior understanding that their organizations will be recognizable if they invest in designs, aesthetics, and branding without first considering the type of idea they have. Success is only achievable if these ideas of goods and services supply to an existing gap, or act as a valuable substitute to a current product that does not fulfill customers or, is not futuristic in overall design. It remains one of the most important things in business to monitor and adapt to modern trends to guarantee an executive of a position in tomorrow’s marketplace (Armstrong, 2015).

Additionally, it is surprising that most organizations fail to understand that marketing should be about satisfying the needs of the consumer and not prioritizing the desires, goals, and objectives of the firm. The growth and sustainability of any corporation, whether local or global, is highly dependent on constant communication with customers, evaluating emerging and existing societal forces, technology and the ability to differentiate products. However, an administration can only achieve that if they employ a competent workforce, who undergo regular training programs to increase and grow their level of understandings of various markets.

I would, however, like to more about integrated marketing and the best strategies in incorporating all of its aspects such as sales, social media, and advertising in enhancing the experience between a customer and a brand (Andrews & Shimp, 2017). I believe that this association with the client will cultivate trust as the business organization will be able to develop an in-depth understanding of the consumer’s wants through a valuable relationship based on trust and reliability. Accordingly, through this seamless structure, a company will ensure that all departments are on the same page as regards the main objectives of the firm, and the significance of those goals focusing on customers.

Consumer Power and Technology

In what many people refer to as the age of the consumer, this new generation characterized by the heavy use of technology in accomplishing almost all tasks also has an increased power to make demands for the type of products that can suit their needs. It is, therefore, there will continue to be a steady rise in the ability of consumers to make purchases and demands with a direct relationship to the evolution of technology.

There are a significant number of factors that directly contribute to the rise of consumer power such as the willingness to try new things and the inability to distinguish between digital and physical experience. As companies continue to make drastic strides in innovations and new applications and devices, people become less worried about abandoning conventional products to try out novel tools to accomplish the relevant tasks (Labrecque, 2013).

This new ability, thereby, means that customers have a growing thirst for better experiences. It then translates to their wild expectation, which burdens businesses to ensure that the research and development cops with this rising consumer power, where customers have a clue as to what type of product will suit their needs. As technology develops day and night, consumers make requests demanding a sense of universality and seamlessness to increase compatibility with devices performing other functions.

In light of this, power is slowly shifting from the hands of the producers to that of customers as a company’s marketing department has to ensure that it conforms to the needs and wants of the considerable portion of the population if they desire to continue operating and, to maintain their market share. The internet and new age social media are the most significant contributors to this shift of power. This platforms supply individuals with vast volumes of data on the various opportunities available for them to enhance their quality of lives (Labrecque, 2013).

This discovery cultivated the necessity of a relationship between the firm and the customer in the quest of the organization to fully satisfy the client and survive in business. The empowerment of individuals by the evolution of technology is real and steadily increasing. Information savviness, the readiness to experiment and the need for customization are elements that influence the modern day customers into making demands that match their needs and preferences. It is, therefore, up to strategists and marketers in companies to establish their wants and compete with other brands.

References

Andrews, J. C., & Shimp, T. A. (2017). Advertising, promotion, and other aspects of integrated marketing communications. Nelson Education.

Armstrong, G., Kotler, P., Buchwitz, L. A., Trifts, V., & Gaudet, D. (2015). Marketing: an introduction.

Labrecque, L. I., vor dem Esche, J., Mathwick, C., Novak, T. P., & Hofacker, C. F. (2013). Consumer power: Evolution in the digital age. Journal of Interactive Marketing, 27(4), 257-269.

Levitt, T. (2019). Marketing Myopia. Retrieved from https://hbr.org/2004/07/marketing-myopia