Self Reflection Piece – Marketing Essay
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“What is marketing and how do you feel that marketing will assist you in your career?” Marketing is an essential aspect of any organisation or company. It is a foundation that drives most successful businesses on the concepts of profit, market share, customer retention and societal objectives such as environment and human welfare. I define marketing as an institutional process of understanding, creating, communicating and delivering a mutually beneficial exchange of value to customers, clients, partners and society at large.
Marketing has the ability to influence many aspects of my career in any organisation as it is put at the heart of all business decisions.
It analyses consumer needs as well as consumer wants and how to improve the value customers see in goods or services offered by an organisation. This can be done through the implementation marketing plan as it is focused on achieving organisational objectives. The plans evaluation of the internal environment as well as external micro and macro environments are crucial in determining how to become more competitive through promoting, recognising strengths, minimising weaknesses, seizing opportunities and eliminating threats.
It can be furthermore beneficial in evaluating political, economic, social, technological and legal factors concerning the targeted market.
Marketing is essentially valuable to me through its recognition of the importance of corporate ethics and the ideas of providing employment, quality products through constant evaluation and refinement, and strong recognition for the environment. Each of these factors greatly benefit the modern day organisation as a whole in the competitive environment.