Marketing Strategies: Self-Reflection Essay Analysis

This self-reflection essay critically examines the evolution of marketing strategies, contrasting traditional and contemporary approaches. The essay highlights key concepts such as the importance of marketing in enhancing a company's competitiveness, the impact of globalization, and the challenges faced by marketing managers. It explores the role of technology, specifically the use of EEG (Electroencephalogram), in understanding consumer preferences and tailoring marketing campaigns. Furthermore, the essay discusses organizational strategies to address marketing challenges, including restructuring, strategic alliances, and continuous market analysis. The author reflects on the insights gained from the course, outlines their future actions, and emphasizes the need to adapt marketing strategies to the changing consumer landscape, incorporating technological advancements and diverse cultural considerations. The essay concludes with a list of cited references.

Self-Reflection Essay1
SELF-REFLECTION ESSAY
By (Name)
Course:
Instructor:
Institution:
City, State:
Date:

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.

Self-Reflection Essay4
The Use of EEG and the Role of Marketers
In an effort to address the challenges that characterize the marketing department, it is
now evident that marketing managers can utilize neural imaging technology to determine
consumer preferences. However, little is known regarding the applicability of this technology in
consumer marketing research. Nonetheless, Telpaz, Webb, and Levy (2015) point out that EEF
(Electroencephalogram) is an effective tool in predicting the future tastes and preferences of
consumers regarding products. Therefore, marketers can utilize this technology to customize
their marketing message to attract a larger consumer segment in addition to enhancing the design
of a product. The use of EEG will address the limitations that characterize other market research
strategies such as the use of verbal statements and questionnaires. Arguably, the utilization of
questionnaires in assessing the purchase behavior, attitudes, and preferences of the consumer
often leads to inaccurate and biased outcomes (Mcquarrie 2015). Accordingly, the use of
customers’ verbal statement results in unconscious or conscious biases. Therefore, as a future
marketing manager, I will utilize EEG to avoid bias that defines other market research strategies.
Strategies being utilized to Address Marketing Challenges
I learned from the course lecturers that organizations are utilizing various strategies to
overcome the challenges that characterize the marketing function of the organization. For
instance, organizations are making significant changes to their organizational structures to
accommodate the earlier mentioned marketing challenges. The change of structure entails the
shifting away from a hierarchical, top-down, and formal structure which is considered
bureaucratic to more flexible, flatter, and open system organizational structures. Traditionally,
hierarchical structures were considered effective because they were risk aversive and reduced
administrative costs (Riggio 2015). However, in contemporary business environment, they

Self-Reflection Essay5
undermine innovativeness and the ability of an organization to react promptly to opportunities in
the market.
As companies are increasingly expanding their operations internationally, it becomes
somewhat challenging to control marketing operations from one place. For this reason,
organizations are investing in multifunctional teams guided from a decentralized place.
However, decentralizing company’s operations affect the cohesion of marketing strategy but
managers promote it via using task forces or working groups that mirror distinct units. The task
force addresses strategic issues, assume leadership roles in various projects and share
information with other units in the organization. As a consequence, the focus is directed towards
areas that will enhance their competitiveness in their respective industry.
Companies are also forming strategic alliances while others are investing in networks that
maximize their potential for growth. Changes are also implemented at the functional level of the
organization to address the challenges being faced by the marketing department. For instance,
companies conduct continuous analysis and monitoring rather doing it on quarterly, monthly or
weekly periods. Continuous monitoring enables organizations to respond immediately to changes
in the market place by customizing their marketing strategies to meet the tastes and preferences
of the modern consumers (Aaker 2011). Continuous monitoring should be accompanied by
innovation to enhance not only the competitiveness of the firm but also design products that meet
the needs and wants of the consumer. Therefore, in the future, I intend to conduct a market
analysis of my department continuously rather than on a monthly or annual basis.

Self-Reflection Essay6
My Actions and Next Steps
From the course reading and lecture notes, I have noted that technological advancements
are transforming the role of marketing managers. Through technology, companies are now
marketing products to a diverse client portfolio. For this reason, it is the role of marketers to
design marketing campaigns that mirrors the diverse culture of their clients. Failure to do so
undermines a company’s ability to enhance its competitiveness in its respective industry.
Therefore, I intend to utilize the technological landscape to market products and learn about
customer tastes and preferences to ensure that the designed products meet their demands. For
instance, the use of social networking platforms is vital in enhancing the interaction between a
company and its target market (Hajil 2015). Through these platforms, I can launch a new
product, request for customer reviews, and consider their feedback and modify the products or
services to satisfy the target market.

Self-Reflection Essay7
List of References
Aaker, DA 2011, Brand relevance: making competitors irrelevant, Jossey-Bass, San Francisco,
CA.
Denison, T& McDonald, M 1995,’ The of marketing past, present and future’, Journal of
Marketing Practice: Applied Marketing Science, vol.1, no.1, pp.54-76.
http://dx.doi.org/10.1108/EUM0000000003880
Firat, AF & Shultz II, CJ 1997,’ From segmentation to fragmentation,’ European Journal of
Marketing, vol.31, no.3/4, pp 183-207. http://dx.doi.org/10.1108/EUM0000000004321
Hajil, N 2015, Handbook of research on integrating social media into strategic marketing,
Business Science Reference, Hershey, PS.
Le Meunier-Fitzhugh, K & Douglas, T 2016, Achieving a strategic sales focus: contemporary
issues and future challenges, Oxford University Press, Oxford
Mcleish, B 2011, Successful marketing strategies for nonprofit organizations: winning in the age
of the elusive donor, Wiley, Hoboken, N.J.
Mcquarrie, E F 2015, The Market Research Toolbox: a Concise Guide for Beginners, Sage
publications, Thousand Oaks.
Quinn, L, Dibb, S, Simskin, L, Canhoto, A, & Analogbei, M 2016,’ Troubled waters: The
transformation of marketing in a digital world’, European Journal of Marketing , vol.50. no.12,
pp. 1-54 http://dx.doi.org/10.1108/EJM-08-2015-0537
Riggio, R 2015, An introduction to industrial and organizational psychology, London: Routledge
Telpaz, A, Webb, R &Levy, DJ 2015,’ Using EEG to predict consumers’ future choices’,
Journal of Marketing Research, pp.1-60