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    Individual Reflective Essay For Marketing

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    Thasneem Haniffa
    Marketing involves creating, distributing, promoting, and pricing goods and services to satisfy customers and develop relationships. It can be defined by the 4 Ps: product, place, price, and promotion. The author's father ran an electronics import business for 13 years using a "telling and selling" motto, but the business declined as this approach no longer worked. The author suggested emphasizing affordable products for middle-income customers and millennials, and using social media marketing, which improved the business. Studying marketing provides a foundation for business success.

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    Individual Reflective Essay For Marketing

    Uploaded by

    Thasneem Haniffa
    234 views2 pages
    Marketing involves creating, distributing, promoting, and pricing goods and services to satisfy customers and develop relationships. It can be defined by the 4 Ps: product, place, price, and promotion. The author's father ran an electronics import business for 13 years using a "telling and selling" motto, but the business declined as this approach no longer worked. The author suggested emphasizing affordable products for middle-income customers and millennials, and using social media marketing, which improved the business. Studying marketing provides a foundation for business success.

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    Individual Reflective Essay for marketing

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    Individual Reflective Essay for marketing

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    Marketing involves creating, distributing, promoting, and pricing goods and services to satisfy customers and develop relationships. It can be defined by the 4 Ps: product, place, price, and promotion. The author's father ran an electronics import business for 13 years using a "telling and selling" motto, but the business declined as this approach no longer worked. The author suggested emphasizing affordable products for middle-income customers and millennials, and using social media marketing, which improved the business. Studying marketing provides a foundation for business success.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    234 views2 pages

    Individual Reflective Essay For Marketing

    Uploaded by

    Thasneem Haniffa
    Marketing involves creating, distributing, promoting, and pricing goods and services to satisfy customers and develop relationships. It can be defined by the 4 Ps: product, place, price, and promotion. The author's father ran an electronics import business for 13 years using a "telling and selling" motto, but the business declined as this approach no longer worked. The author suggested emphasizing affordable products for middle-income customers and millennials, and using social media marketing, which improved the business. Studying marketing provides a foundation for business success.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Marketing according to ‘American Marketing Association’ is properly defined as the process

    of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate
    satisfying exchanges with customers and develop and maintain favorable relationships with
    stakeholders in a dynamic environment. In layman’s terms, marketing can be defined with 4
    Ps. It’s all about ‘putting the right product in the right place, at the right price, at the right
    time. Is marketing plain common sense? Well to me, I’ve certainly learnt a thing or two based
    on my past work experience and from my father’s business.

    My father is a businessman. To be specific; he sells imported goods, mainly electronics to


    suppliers and wholesalers. He has been running his business for about a good 13 years and he
    has been giving me a lot of experiential insights about his work life. I used to think marketing
    is just plain common sense. All you have to do is promote the product that you are selling to
    everyone. This mindset was set in place because of the way my father handled his business.
    He believed in the motto “telling and selling”. That was how he was running his business in
    the last 13 years. But his business has dwindled at an excruciatingly fast rate because that
    marketing motto does not apply to today’s generation anymore. So I strongly believe
    marketing is not common sense. My father did not have proper education in the business, he
    learnt from his experiences therefore I take my education very seriously as I believe
    foundation in marketing will be beneficial for us. Firstly, I told my father to change the way
    he markets his products. He strongly believes in the selling philosophy. But this was not
    working out in his favor, so I suggested him to follow the production philosophy. Instead of
    selling expensive rare electronics that will only appeal to a small target audience (small
    demographics), I suggested him to strongly emphasize his marketing efforts on the most
    profitable segment of the market (middle class income people or millennials) and to start
    selling many types of electronics that are affordable. This will then appeal to a larger target
    audience which will in turn, boosts his profit. Technically speaking, he had lesser quantity to
    sell to breakeven profit initially, but in the long run, because he has now catered to a larger
    target audience, even if he needs to sell more electronics to breakeven his profit, it is easier
    for him to do so. The second tip I suggested was to engage his target audience through social
    media marketing. I felt that more emphasis should be placed on social media marketing rather
    than having a brick and mortar outlet because millennials being one myself, I prefer reading
    up reviews and looking through products online first before actually making the purchase in
    reality.
    Fortunately, these marketing tips has proven to be really helpful as my father’s business
    improved significantly compared to before. Learning marketing is definitely one of the key
    foundations of being part of a business or owning a business. So is studying marketing
    necessary? Yes, it is if you want to sustain a successful business in the long run.

    References

    a) Understanding the Marketing Mix Concept - 4Ps. (2018, January 31). Retrieved
    August 22, 2019, from https://www.cleverism.com/understanding-marketing-mix-
    concept-4ps/

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