Outcome 1 – Use appropriate terminology to communicate with marketing specialists and others about marketing concepts
Before taking this marketing course I had only taken upper division Spanish courses at CSUMB, that is to say my business knowledge was limited. As I have repeated in class, I was happy to learn that gathering, organizing and utilizing customer insight in order to create value for the customer and receive value from the customer is the true purpose of marketing instead of simply organizing an advertisement scheme. The connection between the 4 p’s and the 4 c’s also struck me as interesting as I have never thought about any product with such a strategic process. Furthermore, I realized the huge benefits of analyzing a situation using a SWOT analysis. (see final marketing plan for my use of SWOT and 4p’s and 4c’s http://wp.me/a43oId-5I)
Outcome 2 – Understand more clearly how marketing affects you as a consumer and how you influence marketing practices
I was shocked learning in a lecture about how Walmart uses bar codes to track what is being purchased, in what location, in what frequency, and by what type of person. I didn’t realize how much me personally as a consumer influences the market. Things as simple as a Google search or denying an advertisement on Youtube feeds marketers tons of information that they are, in return, able to use for their advantage. I try my hardest not to be affected by marketing; however, it is impossible to ignore the marketing world all together (I own Old Spice body wash, and I blame it on the commercials). When doing my marketing plan (http://wp.me/a43oId-5I) consumers influenced our marketing practices, because in order to sell beer information about what the consumers wanted in a beer was needed first.
Outcome 3 – Identify and interpret changes in the environment which affect marketing activities
In my opinion there are 6 categories in which one may identify changes in the marketing environment, and it’s also known as a PESTEL analysis. There may be political, environmental, social, technological, economical, or legal changes. Movements in any of these categories may push a marketing plan or prevent one from being made. For example, today’s marketing world sees a huge trend in sustainable marketing. This can be seen primarily in the environmental and social sections of the PESTEL analysis.
Outcome 4 – Understand the costs and benefits of marketing on society and on those involved in the marketing process
Through my group practicum (http://wp.me/a43oId-2B) I clearly saw the costs and benefits of marketing on society. I was educated on the large amount of people it takes to run a successful marketing team, and the struggles a group may face in order to put together a finished product. The benefits of customer insight may directly help a products design or use while the cost of airtime or page space may honestly boost revenues. Society, on the other hand, is unwillingly giving up personal information making them vulnerable to marketing teams. They run the risk of being brainwashed by the propaganda spread all throughout the streets, commercials, and advertisements.
Outcome 5 – Understand how marketing interacts with and is interdependent with other functional areas within a company
Outcome 5 has been completed simply due to the amount of quizzes and readings that were given during this semester. Each chapter, aka each quiz, covered a niche in marketing and each were interdependent from each other. Marketing may be linked to several other sectors in a company. For instance, the finance sector and marketing sector may collaborate and share data in order to measure specific advertisement impacts on profits and other post-consumer behavior. Marketing and Public Relations can collaborate by sharing the task of creating customer value in order to receive value from the customer.
Outcome 6 – Describe the role and contribution that marketing plays in organizations and society
As read about in Principles of Marketing by Kotler and Armstrong, everything in marketing is done with consumer value in mind. That said, organizations and society play huge parts in every marketing decision. Featuring sustainability in a product helps organizations and society back that product, and this cycle goes full circle. The more connected a company is with a society though organizations, the more consumer insight is able to be gained, and in return more value is gathered from the customer.
Outcome 7 – Develop a good understanding of current marketing concepts, strategies and techniques
I discusses product life cycles in this portfolio, and want to reiterate my liking of this strategy. Other than companies like Apple, Xbox, and Playstation, GoPro has begun utilizing the strategy of a life cycle very well. With 3 generations of GoPros, the original version is almost already never seen while the newest most expensive one is everywhere. I am positive that an upgraded version will soon arise and the current newest will drop in price. Working on my marketing plan (http://wp.me/a43oId-5I) I really had to go through all of the concepts while utilizing all the strategies and techniques in order to complete a polished final product.
Outcome 8 – Understand how marketing decisions are made
Beyond all of the quizzes, readings, and individual assignments, I believe the marketing plan and the in class discussions/case studies helped me the most in understanding how marketing decisions are made. Again, each decision in the process is made with customer value in mind, but I was not aware how detailed each process can be. From gathering data to developing a brand name, each step of the process has various decisions to be made and every one is crucial in the end goal of gathering value from customers.
Outcome 9 – Know how organizations search for new marketing opportunities and select target markets
I am always amazed on how diverse a company may be. For example, Yamaha is famous for making musical instruments while at the same time famous for making speed motorcycles. My understanding of how organizations search for new marketing opportunities primarily came from in class discussions; however, working on my marketing plan, linked above, opened my eyes to selecting target markets to aim a marketing plan at. I never before was as aware of how important selecting a target market is.
Outcome 10 – Explain how the marketing mix elements are blended into a cohesive marketing program
The marketing mix, or as I like to call it, the 4 P’s and C’s of marketing were enforced throughout the semester, but primarily in my marketing plan and the case studies in which we discussed in class. Deciding on the product, place, promotion and price along with the consumer, convenience, communication and cost involved basically decides an entire products future in a given market. All elements are blended into a smooth marketing program that in consequence will boost a product into success. None of this is possible; however, without customer insight which is gathered through primary or secondary data.
Outcome 11 – Develop an understanding of the ethical and global issues facing people working in the marketing function
Being an international student, I have a little bit of an advantage in understanding the needs of dealing with anything from another country. Primarily one must fully understand a culture before trying to penetrate into it’s business world, as proven in my “Entering a foreign market” section in this portfolio. Different customs, traditions, holidays, and ethics may prohibit or alter ones normal means of marketing. If one country glorifies a cow, McDonald’s shouldn’t go promoting cheeseburgers with real meat. Before entering international markets, one must honestly ask them self if they are really prepared.