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MW1P.docxA minimum of 100 words each question and References Response #1 – 6) KEEP RESPONSE WITH ANSWER
Make sure the Responses includes the Following: (a) an understanding of the weekly content as supported by a scholarly resource, (b) the provision of a probing question. (c) stay on topic
1. Marketing is important because we interact with it in some form every day, whether we realize it or not. It is something that we are either marketing something to someone or a product it is being marketed to us. There are four factors that specifically outline what is needed for marketing to occur. 1) Two or more parties (individuals or organizations) with unsatisfied needs; 2) A desire and ability on their part to have their needs satisfied; 3) A way for the parties to communicate 4) Something to exchange (Kerin & Hartley, 2016, p.6). In order for marketing to take place, the customer has to have a need and the entrepreneur has to be able to solve that problem or need. This is true for just about every industry, and if a business wants to be successful, then they have to continuously meet the needs of the general public in some way. One example is GameStop. They sell video games but have done a poor job lately appealing to gamers and being able to draw customers in stores since most of the video game sales are now coming from digital sales. It is more convenient to buy the game on one's game console or computer and just download it than having to leave home to buy a physical copy for a crappy deal. They have lost touch on how to keep their customers and reach new ones. They have not followed the rules of marketing and it is showing as the company has the same business model as Blockbuster before Blockbuster closed nationwide, there being only one store left in the country.
2. In order for marketing to occur, four things need to happen. First, two parties have to have unsatisfied needs, there needs to be a demand and a product or service for that demand. This means customers would like something such as someone to give them a ride after a night out, and then a company has a product that would help them, such as Uber. The second thing needed is a desire and ability to satisfy that desire, by both parties. So the customer needs to want the product enough to buy it, and the provider needs to have people willing to give others rides. Next, these two parties need a way to communicate, the customers need a way to find drivers, their app or even phone a call center would satisfy. The customer calls out for a ride, and that message needs to reach a driver able to get them. Last, something needs to be exchanged (Kerin & Hartley, 2016). Now-a-days that is money in exchange for the service.
3. The four factors needed in order for marketing to occur are at least two parties who have unsatisfied needs, a desire to have their needs satisfied, a means of communication between all participating parties, and an exchangeable trait (Kerin & Hartley, 2015). Two or more parties with unsatisfied needs shows that two entities are able to fulfill each others needs in their basic functions, for example, stores and people need each other to succeed. Stores and customers demonstrate the desire to satisfy each other needs by a person having money to go and shop and the store having products that consumers want. The communication process is displayed by customers knowing the location of the stores and the stores wouldn’t be open for business without potential buyers. Lastly, each party has something to exchange of value that satisfies each of your needs.
4. The four factors that are needed in order for marketing to occur are two or more parties (individualsor organizations) with unsatisfied needs. This is basically when you need something, and the other party needs something as well which is for you to come and purchase something, a desire and ability on their part to have their needs satisfied. The ability to have the need satisfied would be the customer having money and the ability to actually buy something and the establishment being able to produce what it is the customer needs. Third, is a way for the parties to communicate this is for both parties to know where the establishment is located and where the buyer is located to be sent coupons and sales going on for promotion. Lastly, is having something to exchange. So basically, the patrons funds for the merchandise or food etc.
5. What’s your definition of marketing? What’s the main goal of marketing?
6. In the second step of the Strategic Marketing process is when segmenting occurs. During this step a company decides what type of customer will be the target for their products by separating them into groups or segments that share common interests and will respond to that marketing strategy (Kerin & Hartley, 2016). By doing this a company may experience an ethical dilemma of stereotyping people (Sandilands, n.d.). A product that is targeted toward women such as cleaning supplies, could indicate that it is there job or position in the household to do all the cleaning. This may cause woman to be offended and refuse to buy those products. This would shed a negative stigma on the company possibly hurting their business.
