Marketing as an Integral Part of Business - Essay Sample

2021-07-29 18:52:08
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1051 words
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Boston College
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Essay
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Marketing is an integral part of business as it enables businesses to display their products while also giving a firm the chance to introduce or expand their products in the market. It involves the process of planning and executing various ideas, pricing strategies, promotion and even the distribution of goods, services and even ideas. Marketing also helps to meet some of the individual needs of clients as well as the organizational objectives of the selling firm.

Question 1

The four divisions of an advertising agency include the accounts services, creative services, marketing services and the management/finance department. Account services act as the link between the clients and the advertising agency. Their primary duty of the accounts executive, who is in charge of the accounts division, is to dissect the promotional and marketing needs of the agency and to convey the same to the agencys personnel. The marketing service division carries out research for the agency, carries out a marketing plan while also engaging with the media. Creative services, on the other hand, works as the brain behind the ideas of the agency and also helps execute these ideas. Arzaghi et al., (3) asserts that while advertising agencies could previously offer all services, they have been unbundled to offer specific services. For example, an advertising agency may choose to only offer creative services as opposed to a blend of services. The management/finance department is responsible for conducting all the administrative functions in the business. For example, while an administrative agency deals with the creation of marketing ideas and portraying them to the audience, it is also imperative for them to have basic administrative functions such as human resource, finance or budgeting, and management.

Question 2

The AIDA model is an acronym that outlines the sequence of an advertisement. The model has been lauded as an effective marketing and advertisement tool that agencies can adopt (Rawal, 45). This model is seen in Nikes advertisement video. The first acronym stands for attention. The first step in the model is to capture the attention of the potential clients with the aim of maintaining this attention throughout the ad. In the video, this is done by first highlighting the shoes that are being sold. The next step is invoking the interest of the purchase by focusing on some of the benefits and advantages that they will accrue by purchasing the product (Rawal, 45). The video assures the client of comfort and the ability to stand out. After getting their interest, the advertiser will then arouse the desire in the clients. The running women in the video help to invoke desire by testing the shoes on an athletic field. This step helps the advertiser to convince the potential client that they need the product. Lastly, a call to action is made to encourage the buyer to take action and purchase the product. Nike finally encourages its potential consumers to Run with Nike.

 

Question 3

Consumer profile

Samsung curved TV

 

Marks Profile

Mark is a busy young business executive who spends most of the day at his office but will always prefer to watch his favorite TV shows after work and during the weekends. He is also an avid internet user who streams many videos online on YouTube. Music is a big part of Marks life and he always listens to music when he gets back from work. On the weekends, he is likely to invite some friends over and watch some soccer or baseball. Apart from the movies, TV shows, and music, Mark also loves watching the daily news.

Favorite TV shows

Game of Thrones, Boardwalk Empire

Taboo, Seinfeld.

Most watched sports

Baseball, Soccer

NFL, Basketball

Entertainment profile

How often do you watch TV shows and movies?

All weekends and any time after I get off work that is if I am not tired.

How do you watch these shows?

I have an old 32 inch TV that I purchased about two years ago but I have always wanted to get a bigger television.

Which TV are you looking forward to?

Definitely, the Samsung curved TV as I have seen its excellent design and performance.

 

Question 4

 

This is one of the advertisements that I dislike due to the content that the company chose to use. Paddy power designed this truck which includes some famous sports stars. These include Andy Murray, one of the great tennis players, English footballer Raheem Sterling and Mo Farah who is an Olympic gold medalist. According to O'Reilly, Lara, the marketing campaign by the firm caused fury when it took advantage of a humanitarian problem in the UK to generate awareness. I believe that advertisements affect our purchasing decision since you can tell a lot about the firm and the products they serve from the advertisement. For example, an immigrant may be offended by such an advertisement.

Question 5

The 4 P's of marketing consists of the different components of marketing i.e. product, promotion, place, and price which influence the needs of individuals while also helping to reinforce the aims and objectives of an organization (Goi, 2). The product is the good, service or even idea that helps to meet the needs of each client. Price involves all the pricing strategies that a company uses to sell their product (e.g. offering discounts). Places include all the distribution strategies which depict how a company gets the products from the producers to the final consumer (e.g. getting a strategic location to increase sales). Constantinides (426) argues that promotion, on the other hand, are techniques that marketers use to communicate the features and any information to their clients (e.g. advertising or personal selling). These 4ps are important since they help marketers to plan and implement ideas to ensure proper marketing efforts.

Work cited

Arzaghi, Mohammad, et al. "The unbundling of advertising agency services: An economic analysis." Review of Marketing Science 10.1 (2012).

Constantinides, Efthymios. "The marketing mix revisited: towards the 21st-century marketing." Journal of marketing management 22.3-4 (2006): 407-438.

Goi, Chai Lee. "A review of marketing mix: 4Ps or more?" International journal of marketing studies 1.1 (2009): 2.

O'Reilly, Lara. "The 10 Worst Ads of 2015." Business Insider, 2017, http://www.businessinsider.com/the-10-worst-ads-of-2015-12?r=UK&IR=T.

Rawal, Priyanka. "AIDA Marketing Communication Model: Stimulating a purchase decision in the minds of the consumers through a linear progression of steps." International Journal of Multidisciplinary Research in Social & Management Sciences 1.1 (2013): 37-44.

 

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