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Global Concept of Marketing : Report

   

Added on  2020-07-23

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MarketingAssessment 1
Global Concept of Marketing : Report_1

Reflective reportHere I am, a first-year university student prepared to dedicate my time to this globalconcept called marketing, yet realising that I only had a minute understanding of the truemeaning of the word. Before my first marketing class, I wanted to be ready. After researchingseveral definitions, I was prepared to have complete understanding. Marketing is defined asthe promotion of a particular product, brand or service that is aimed to keep and satisfy thecustomer on a national or international scale. In what ways has your view of marketing changed/not changed as a result of what youhave learned since the beginning of the semester? Understand customer needs wants and demands.I always understood that marketing involved the customer desired needs, wants anddemands, but I never investigated further into the concept to truly understand the depth of it.This is a fundamental characteristic of marketing, without needs met, who is going topurchase the product? As the lecturer was discussing the importance of understanding targetmarkets, and the following needs of the consumer, he began discussing an example that nevercrossed my mind. Watches, Swiss watches, such as Tag Heuer and Omega. He followed thediscussion by asking the class why Swatch watches have taken over the world and the watchindustry. This really made me think as an individual who owns several of their products, whythey were so appealing to me, and many others. Was it the affordability? Was I following acommon trend? No. In fact, it is because of the never-ending designs they offer theirconsumers. Learning during the semester has allowed me to understand that marketingpractice within organisation need to be changed as per changes in needs. We are in an era ofwanting all the products on the market, no matter how many we already own. Swatchunderstands the changes in the market trends. My experience and knowledge changedregarding the marketplace and customer needs, dramatically after one discussion in class. Iwas able to comprehend to my initial thought that was only surface deep. By having anappropriate learning in regard to marketing concept the factors that need to be referred duringpromotion are also being understood in desired manner. Market Offerings: Goods, Services and experiences Every element of marketing that has been taught so is relatable in my personal life.There was one topic in particular that raised a few questions; that being market offerings,goods, services and experiences. Every day I experience purchasing a good, receiving aservice and experiencing the journey that comes along with it, but never have I stopped tothink about each of these aspects and analyse just how important they are to the marketing
Global Concept of Marketing : Report_2

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