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Marketing Philosophy and Strategy in Business Essay


The Importance of the “Marketing Philosophy and Strategy” Course Objectives

The modern constantly changing environment introduces numerous challenges to a manager who wants to remain efficient and promote the further development of his/her company. The fact is that the constant emergence of new tendencies and radical changes in the business world require enhanced competencies and a solid knowledge base from a specialist. For this reason, I am sure that the given course is fundamental for any manager who wants to build a successful career. It consists of specific objectives that cover the most topical issues in the world of business. A student who has learned all these aspects would be able to contribute to the evolution of any company by applying these pieces of knowledge to real-life settings.

However, if a person omits some objectives or does not devote much attention to their investigation, he/she will face significant challenges in the future. This will happen because of the inability to understand the nature of marketing, or specific concepts peculiar to the modern business environment. For instance, a poor understanding of a product’s life cycle and its fundamental stages will undermine a specialists ability to predict the evolution of one or another good. It might fail in a certain campaign aimed at the popularization, promotion, and distribution of this very product. In such a way, I am sure that the objectives offered within the chosen course are critical for the improved understanding of the processes that shape the modern business world and marketing. Their perfect comprehension creates the basis for the personal and professional development of a specialist and his/her becoming top manager appreciated by all leading companies.

Societal Marketing

Societal marketing could be considered one of the distinctive features of the modern business world. The management theory treats the evolution of a company as a complex process that depends on numerous factors including social response and support from the members of the local community (Kotler & Keller, 2011). It contributes to the gradual improvement of the firms image and its cooperation with customers. For instance, Whole Foods company is nowadays one of the top brands that devote much attention to communities, their development, and support. There are diverse campaigns focused on the improvement of particular aspects of our society. Thus, the Whole Planet project is designed with the primary aim to empower the poorest people in different regions of the world by providing them with microcredit to create a home-based business and lift themselves and their relatives out of poverty (“Our mission,” n.d.).

The program cultivates a new culture that fosters cooperation, mutual support, and a positive attitude to people. Another societal program organized by Whole Food works with children across the world. It is called Whole Kids and helps adolescents eat better by providing them with fresh and healthy food (“About us,” n.d.). It is a nonprofit campaign that could be sponsored by volunteers who want to improve the state of diverse communities. Whole Cities project has the central mission to improve individual and community health by provisioning broader access to nutritious food in areas the company serves (Caring for local and global communities,” n.d.). There are also multiple other campaigns like Local Producer Loan or Community Giving Programs that have the same objectives as the previous ones (“Caring for local and global communities,” n.d.). These are created to help communities to evolve and become better.

Product Life Cycle

The market of digital devices and innovative technologies passes through the stage of its rapid rise nowadays. For this reason, numerous companies emerge and try to conquer the market. Some of these are more successful than other ones; however, their functioning could be improved and they could struggle with leaders. For instance, Xiaomi is one of the brands that has several weaknesses but its potential remains high and, in the future, it could try to struggle with top brands. Applying the concept of the life cycle to its smartphones, the growth stage could be determined. The brands products are already present in the market, and customers start to buy them (Kotler & Keller, 2011). However, leading competitors still have more powerful positions because of their experience and continuous development. At the moment, two industry leaders are Apple and Samsung.

The first one formulates its mission statement as the creation of the best personal computers in the world, leading the digital music revolution with iPods, and reinvention of mobile phones with revolutionary iPhones (“Apple Inc,” 2016). It impacts the companys functioning and its employees mentalities. To achieve these goals, Apple should preserve its leading positions through innovations, and the high quality of goods suggested to its customers. Samsungs mission statement is different. The company wants to “inspire the world with our innovative technologies, products, and design that enrich peoples lives and contribute to social prosperity by creating a new future” (“What we believe,” n.d., para. 2). In such a way, these leading brands have diverse missions; however, they both emphasize the necessity of innovations, revolutionary technologies, and change. These fundamental aspects of their functioning help to attract millions of people around the globe and inspire competitors to work better.

References

About us. (n.d.). Web.

Apple Inc. (2016). Web.

Caring for local and global communities. (n.d.). Web.

Kotler, P., & Keller, K. (2011). Marketing management (14th Ed.). New York, NY: Pearson.

Our mission. (n.d.). Web.

What we believe. (n.d.). Web.

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IvyPanda. (2020, September 3). Marketing Philosophy and Strategy in Business. Retrieved from https://ivypanda.com/essays/marketing-philosophy-and-strategy-in-business/

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"Marketing Philosophy and Strategy in Business." IvyPanda, 3 Sept. 2020, ivypanda.com/essays/marketing-philosophy-and-strategy-in-business/.

1. IvyPanda. "Marketing Philosophy and Strategy in Business." September 3, 2020. https://ivypanda.com/essays/marketing-philosophy-and-strategy-in-business/.


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IvyPanda. "Marketing Philosophy and Strategy in Business." September 3, 2020. https://ivypanda.com/essays/marketing-philosophy-and-strategy-in-business/.

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IvyPanda. 2020. "Marketing Philosophy and Strategy in Business." September 3, 2020. https://ivypanda.com/essays/marketing-philosophy-and-strategy-in-business/.

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IvyPanda. (2020) 'Marketing Philosophy and Strategy in Business'. 3 September.

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