Self-Reflection Essay

Self-Reflection Essay1
SELF-REFLECTION ESSAY
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Self-Reflection Essay2
Self-Reflection Essay
The course readings provided me with significant insights regarding the importance of
marketing in enhancing a company’s competitiveness in its respective industry. It is through
marketing that organizations react to consumers’ need through product development, marketing
campaigns that raise their awareness regarding the new brand in the market in addition to
enhancing brand loyalty and satisfaction (Firat & Shultz II 1997). I also learned that there is a
significant difference between conventional and contemporary marketing strategies.
Traditionally, businesses manufactured their services and goods and it was the role of the
marketers to design communications and advertisement about these goods and services.
Consumers listened and watched these marketing campaigns, and then made a purchasing
decision (Denison & McDonald 1995). However, in the contemporary business environments,
things have somewhat changed.
For instance, marketing strategies are now defined by new channels, customized
products, co-creation, and two-way interaction. Marketing managers in the contemporary
business environment utilize two-way communication such as the use of social media platforms
to interact with their target market (Mcleish 2011). Through these interactions, marketing
managers actively listen to the wants and needs of their customers and customize their products
to meet these needs and wants. In their endeavor to design products that meet the taste and
preferences of their consumers, I realized that marketing managers are subjected to a myriad of
challenges. Some of these challenges include globalization, customer power, expertise, and
sophistication (Denison & McDonald 1995). Process thinking, lack of growth in the market, and
time-based competition are also drawbacks that marketing managers encounter as they attempt to
promote their brand in the market.

Self-Reflection Essay3
According to Quinn et al.(2016), the 4ps that characterize the conventional marketing
mix are being complicated by globalization. Marketing operations in the domestic markets are
being restructured by globalization with the sole purpose of enhancing a company’s
competitiveness in its respective industry. Customers, in contrast, are increasingly becoming
more concerned with the durability, reliability, and quality of products and services. Increased
customer knowledge is attributable to advancements in information technology and
communication (Le Meunier-Fitzhugh & Douglas 2016). For all these reasons, it is the
responsibility of marketers to device ways to address the complexity that defines the utilization
of multiple market channels to enhance two-way communication.
I also learned that market maturity in distinct sectors of the economy is forcing
organizations to enhance their operational efficiencies and customer value. More emphasis is
channeled towards customer retention compared to attracting potential clients. Marketing
managers, in contrast, are forced to figure out how to stimulate and create demand and widen
their customer bases. In this context, I think it is better for marketers to make smart moves to
attract a larger audience rather than channeling resources to attract a limited number of
consumers in an already saturated market.
As noted earlier, the marketing function of a company plays an essential role in
connecting a company’s target market to services and products. However, this role is being
undermined by a wide range of challenges that further affect the credibility of marketers. For this
reason, I suggest that organizations make marketing function an integral part of the decision-
making process. Equally, the focus should be on the utilization of advanced data analysis
techniques such as EEG so that marketers can devise campaigns that reflect the transforming
nature of consumers in today’s diverse market environment.