Synthesis

By Allison, Jen, Lindsey, Shannon and Shuting

Over the course of the semester, while working on the blog, we learned a wide variety of ideas and strategies important to anyone in the marketing field. Students interested in learning more about the marketing profession should start by understanding key terms and analyzing what contributes to being successful in the field. Familiarity with future trends in marketing can also be helpful in order to stay acquainted with the ever-changing dynamic of society and consumer behavior.

Knowing terms and understanding the structure of marketing is extremely important to anyone’s success in the field. By being well rehearsed in business literacy, you will be able to further understand and communicate to others about all aspects of business, and will lead you to effectively executing exceptional marketing for a variety of projects. There is also a structure in marketing that these key steps have been proven to be sufficient in increasing sales and profits. Knowing and understanding how to incorporate this structure will promote your product well and lead to success.

Appealing to your audience through the different aspects of the marketing field is important. A well-known business tool in marketing is the implementation of the 4 P’s. As we go more in depth on describing the 4P’s, the importance will become evident for creating an effective marketing campaign. In whatever respect, it is nearly impossible to avoid the 4 P’s as they are essential to the marketing industry.

Product: Creating a product that appeals greatly to customers can be a deciding factor as to whether or not it sells. Research to find what consumers are looking for can help give marketers insight as to what is going to be in high demand. No matter  the marketing strategies you use, the product must have value in order for your company to profit.

Price: Price point is extremely important to marketing because having a good balance price is necessary to attract customers. Working with affordability is important; there is a fine line between keeping the product at a competitive price while staying attractive to the customer. Price is a direct element affecting the profit earned by the company.

Promotion: The way a company chooses to promote their product can highly impact the success of the product. Deciding whether to use advertising or public relation events can affect how people react in response to your decision. Choosing the right time of year to promote a product is also an essential element. For example, it wouldn’t be smart to advertise summer clothing leading into the winter months. Therefore, the time of year, as well as strategy are key to creating an effective campaign.

Place: The place you decide to sell your product is important because accessibility plays a main part in the sales and profit one is able to achieve. Being strategic and analyzing your consumer will allow you to choose locations where your product sales will flourish. Until a company grows to a point where an individual would move across the country to join that business, one will need to rely on local pools of talent.

As time moves forward and the world changes, so do strategies used in the marketing industry. Today, marketing is one of the most “trendy” fields in which it is constantly changing with society and must keep up in order to effectively sell products to consumers. An example of a huge change in marketing was the implementation of the internet, this evolution of marketing was a turning point of the industry. The internet introduced the use of social media marketing as well. This next generation of marketing will become more and more digital, working towards automation. Social media and internet marketing has become popular on YouTube, as well as other popular sites, and has had a positive impact on the industry. While social media has made drastic changes to the industry and has helped businesses grow, it is also extremely competitive, as is the entire marketing field.

Having to compete against other marketing competitors everyday, it is important to understand communication strategies they use to convey their messages to consumers. Knowing key techniques and strategies is a great way to learn what it takes to be a successful marketer. Through personal experiences and cases, we have learned that a great deal of marketing tactics are obtained by means of observation from other company’s practices. By taking information you learn from others, you can implement those into your own work. If certain practices are working for a given business, then they will most likely work for you as well, ultimately leading your company to success. Becoming well acquainted with the ins and outs can be extremely impactful on your future marketing endeavors.

https://www.searchenginejournal.com/social-media-marketing-why-your-business-needs-it/56363/

http://blog.contactdd.com/mad-men-accomodate-the-4-ps/
http://business.fau.edu/departments/marketing/index.aspx#.WO5mnVMrJ1Q

Making Strides in Advertising

By: Lindsey Murphy

The advertising industry has been known to show a not-so-real body image or even photoshopped models in its campaigns. This type of artificial promotion leads to trust issues with consumers and a culture filled with unrealistic body expectations. Because sex sells, the advertising industry is to blame for constant images of retouched, unrealistic women in ads everywhere. These images have proven to have a negative impact on young girls to reach the level of perfect that society is telling them to achieve. Here are some great campaigns that shows that the advertising industry can sell products using real, relatable women.

1. Always #LikeAGirl

First debuted in a Super Bowl ad several years ago, this ad has remained a popular female empowerment campaign. I remember when this ad came out and loved how inspiring it was to young girls and how more young girls should have confidence and power in their abilities as a girl.

2. Aerie #AerieReal

Women’s underwear companies such as Victoria’s Secret are known for their stick-thin models with flawless skin and hair. This type of advertising leads to very unrealistic body expectations for women. For the past few years Aerie has been changing the game by using untouched photos in its campaigns. This is emphasized through its #AerieReal campaign to promote healthier beauty standards. Promoting body positivity has helped Aerie with not only their credibility but also their revenues. I think more companies should find ways to make women love their bodies more as opposed to making them feel like they are not good enough.

3. Nike #BetterForIt

This Nike ad is one of my favorites by Nike because it only features women and it's very different because of how humorous but motivating it is. It shows a series of women doing various forms of exercise and they share their thoughts that women all share when exercising. One woman is shown at the gym with small weights in her arms and says,"Don't mind me with my little baby weights... baby arms." The ad shows that everyone has insecurities when exercising, but exercising makes us better in the long run. The end of the ad shows the women succeeding in their exercising efforts and becoming more confident in themselves.

Cooper, Grace. "5 Empowering Ad Campaigns That Are Breaking The Beauty Mold." Verily. N.p., 06 July 2016. Web. 10 Apr. 2017. <http://verilymag.com/2016/07/positive-advertising-womens-body-image-beauty-standards-dove-nike>.

The Importances of Marketing

By Shuting Qi

At the end of our blog journey in the Marketing world, let’s reinforce why marketing is an essential part of any business no matter the sizes. For any business, marketing strategies decide how does the product appeal to the customers. In a word, marketing for business is doing the right things for the right people. 

How does marketing actually helps the business make money is why marketing is so important. As we mentioned previously, marketing structure includes lots of aspects, but how does marketing actually business make money?  Let’s go through each basic steps:

For any business, the first step is market research, which means business need to know their target customers and what customer’s needs. This will increase the potential sales. In another word, customers’ eyes would attract by something they are looking for. Next step is making the product, which means business need not only need to take customer’s favor, but also need to stand strong on product quality based on the market research result. A good quality product would retain customer’s and build up customers’ loyalty. Moving on to the first impression of what people think of Marketing, advertising. Advertise product means how to bring business’s product in front of customer’s eyes. If a business has great ideas and qualified product but no markets and customers know them, the business will eventually fail. 

The purpose of marketing is for a business to increase sale. From the revenue function, Quantity of Sold * Price per unit=Total Revenue, we can tell that if the price is unchanged, more quantity equals more total revenue. Thus, marketing can directly increase the total revenue.