Response to Kelcy's Post

This is in response to Kelcy's question: "If any company markets their product internationally, do you think the company will flourish no matter what?"

I believe that it can be very important for a company to market internationally, if they are ready for it. Marketing internationally involves a lot of time, money, and effort on behalf of the entire company. Certainly marketing to an international audience can be very beneficial in that more customers are reached, more profit can be made, exchange rates can work in your favor, etc. There are many great benefits that can come from international marketing. I don't believe, however, that a company will flourish no matter what if they market their product internationally.

A company can make many mistakes in marketing, as seen in class with Euro Disney. In order for a company to make their product available to international markets, a lot of research must be done. If a company does not study the culture, the people, and even the language, many mistakes can be made and the company may actually offend some people or fail in that given country. This is obviously the opposite effect that the marketers want, and as a result, the company may not succeed. Also, there may be no demand for a product that a company makes in particular countries or regions. For example, there is probably not much demand for North Face jackets in Africa and other hot, dry regions. So, if a company does its research and studies the culture and believes that that there is a market for their product, they may be successful, but they will not indefinitely flourish. Do you agree that a company must take these steps to be successful?

E-marketing

E-marketing is completely revolutionizing the way marketing is being done. With recent advancements in technology and with virtually everyone in the entire country using the internet on a daily basis, e-marketers are finding it easier and easier to get the word out about their products. Out of the 4 P's of the marketing mix, I believe that the place and promotion factors are impacted the most by the advent of e-marketing.

The place factor has been greatly impacted by e-marketing because any and every product is available nearly instantaneously. The distribution factor should have products available at the right time at the right place and in the right quantities. Since the global market is so highly integrated now, customers looking at products will be able to see exactly how much of a product a company has, when it is able to be shipped, when it will arrive at the customers' house, etc. Also, e-marketing has benefited companies with inventory control. Companies such as Wal-Mart have instant inventory systems in which, as soon as a product is sold in a store, the information to order a replacement is already in China and will ship domestically extremely quickly. This allows companies to always have the correct amount of any given product, whenever the customers want it.

Promotion is probably the most affected factor by e-commerce as companies can target market their product(s) on any website that they would like. This allows companies to market to only the customers they believe will buy their product, hence saving thousands of dollars a year and avoiding marketing to customers who are unlikely to buy that product being advertised. Companies are also able to publish information about their products such that customers can do research and find out background information about the company or product, or simply look at the features a product has. Since a customer who visits a firm's website is interested in the products that that company has to offer, the company can highlight the products it wants to sell the most.

I believe that e-marketing is one of the most useful tools that marketers can use, and as a result, they can target market their customers like never before, all while saving thousands, if not millions, of dollars a year. With all these new forms of internet marketing, what do you think we will see in the next few years? What new ways can marketing managers take advantage of e-marketing?

Environmentalism Response

This is in response to Dave's post about environmentalism acting as a threat or an opportunity:

Dave brought up a good point that social responsibility is important for companies because they would like to portray themselves as helping the community and reaching out to others, rather than just focusing on the bottom line. Dave brings up the point of the recent booming market for hybrid cars a couple of years ago, and how they are more fuel efficient, cut gas emissions, and are more eco-friendly, provides a positive view of these companies from the view point of the consumer, which is a good thing for the company. But, as Dave said, it also hurts the sales of the big gas guzzlers. I think that this cannibalism can have a negative impact on some companies. Their sales are being negatively affected by this surge in hybrid car sales, all as a result from trying to be more environmentally friendly. I believe that these car manufacturers have to be careful on how much they are going to market these cars, if it is going to cut into the sales of big gas guzzlers too much. Dave, do you agree that this marketing scheme of being "green" may eventually have a negative impact on some of these companies?

Marketing Window in the News

Here is an article I came across the other day, which describes how American car makers are taking advantage of the recent recalls of the Toyota cars:

Toyota Recalls

Is environmentalism more of a threat or an opportunity?

When looking at the many factors that can influence the marketing environment, each of them can present both opportunities and threats to a company. The factors affecting the marketing environment include competitive, economic, political, legal and regulatory, technological, and sociocultural. I will focus on a couple of these factors in this blog.

The first factor that I will focus on is the competitive factor. The competition that a company faces often has similar, if not nearly identical products, making it sometimes difficult for a company to gain a competitive advantage. I believe that most of the time, the competitive forces pose a threat to a company; which could be for a variety of reasons. First, a different company may create a new marketing plan which will be more effective in reaching consumers, and as result, lower profits. Also, the competition could engage in a price war and lower their prices to a level in which another company may not be able to compete with, further driving down profits. But, I don't believe that the competitive factor is always acts as a threat. For example, in the recent Toyota recall of cars for the gas pedal sticking, a large marketing opportunity is presented to American car companies such as Ford, GM, and Chrysler. These American companies will have an opportunity to capitalize on Toyota's loss. Ford has already begun to do so by giving discounts to customers who trade in their faulty Toyota.

Another factor that plays a role in the marketing environment is the economic forces. Naturally, how well the economy is doing not only domestically, but internationally as well, plays a large role in how well companies perform. Economic forces can mean different things for different companies, however. In the current state of our economy, we are in a deep recession in which many people are watching what they spend due to high unemployment, budget constraints, and high amounts of debt. One would think that all companies would be hit by this recession and that at this part of the business cycle, the economy would be seen as a threat. But, for some companies like Wal-Mart, Dollar Tree, BJ's, and other discount stores, they are seeing increased sales, since they are able to offer products at deeply discounted prices, which is appealing to consumers in a tight economy. High end retailers and luxury items, however, most likely see this recession as a threat to their companies. Companies like Rolex, Abercrombie & Fitch, and other high end retailers have seen significant profit loses and are struggling to stay out of bankruptcy. This provides a threat to marketers, as it is very difficult to market expensive products in this tight economy. So, once again the economic forces can either be a threat or an opportunity or a threat, depending on the state of the economy, consumers' willingness to spend, and the type of company and product that is trying to be marketed.

Overall, I don't think there is one definitive answer on whether the marketing environment is a threat or an opportunity. I think each factor has both threats and opportunities that are unique to each individual company, and a myriad of other factors. Do you think that any factor provides more of an opportunity, than a threat? Or vice versa?

Response to the 4 P's of Marketing

This is in response to Alex's post on applying the 4 P's of the marketing mix for a job. I agree with what he said about the place component of applying for a job. Like he said, similar to a grocery store, if a person is within a close proximity to the job location, this may increase the likelihood of being hired. I think that the place component can also be applied to the person applying for the job also. The job will be more appealing to them if they already live close to the business and will not have to drive far or relocate.

Alex also brought up a good point about the price component of the marketing mix. I never thought of it as, the less money you are willing to work for, the chances of you getting hired increases. Often times when applying for a job, however, I think many people will have done some research into that job position and what it usually pays. I also think that many people will often ask for a salary that is higher than the minimum salary that they will actually work for. This will help the person applying for the job try and maximize the amount of money they can make.

Overall, I think Alex is correct that the 4 P's of the marketing mix can be applied to interviewing for a job. What do you think, Alex? Do you agree with the salary negotiating?

The 4 P's of Applying for a Job

When applying for a job, one could potentially apply the 4 P's that make up the marketing mix.

Naturally, the person applying for the job would be the product. This interviewer brings many skills, talents, and abilities which make up several features of the "product." Each interviewer also brings his/ her own style, which can play a big role in determining if they get the job. If an interviewer has a unique style and can bring many new ideas to a company, he/ she will want the interviewing company to see this. I believe that even an interviewer has his own packaging, in how professionally he is presenting himself and how he handles himself, which includes his demeanor and sense of professionalism when speaking. The options that a product will come with, in this case, could be looked at as the person's history, education, previous work history, etc.

The place of applying for a job often times plays a large role in where someone will apply. Typically, a person looking for a job will look at companies that are in a close proximity to where he/ she lives so that transportation costs and time spent getting to and from work can be minimized. Also, the person looking for a job may want to know if the job is in danger of being outsourced or is they may need to relocate for the job. Finally, a person looking for a job may inquire about different channels that will be established through this job. Will they meet new people? Will there be new channels and lines of communication that will need to be learned?

Promotion will be the first step to applying for a job. Promotion includes preparing and submitting a resume and cover letter typically. This is usually the first step in the job hiring process. Should a person get an interview, they must sell themselves in a way that the interviewer will be impressed. By showing strong points, previous work experience, and education levels, the interviewer is promoting themselves to the interviewer. How the interviewee behaves and how professional he/ she acts is also part of the promotion process, as they must influence the hiring company that they can maintain a business like demeanor while at work.

The final 'p' of the marketing mix is price. Naturally, the price of applying for a job is the salary and bonuses that will be associated with the job, should they be hired. This may not be set in stone, however, as salaries can often times be negotiated. The price can also be applicable to the interviewee also, as there may be relocation costs, transportation costs to get to and from work, and other expenses such as new attire, etc. Another component of the price component of the marketing mix is the payment period and how often he/ she will be paid if hired. And finally, are there any incentives or bonuses that are associated with the job? This will play a major role often times in whether or not a person accepts a job.

Overall, the marketing mix serves as a practical example as to how a person can go about applying for a job. While keeping the marketing mix in mind and applying the proper mix of these 4 p's, a person should become more successful and increase their chances of being hired for the job being applied for.