essay on product marketing

Essay on Marketing

Students are often asked to write an essay on Marketing in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Marketing

The world of marketing.

Marketing is about spreading the word on products and services. It helps companies connect with customers.

Understanding Customers

Creating products.

Using customer insights, businesses develop products that solve problems or bring joy.

Communication is Key

Marketing involves telling people about products through ads, social media, and more. Clear communication is crucial.

Building Brands

Adapting and growing.

Marketing strategies change based on feedback. Companies adapt to stay relevant and successful.

Marketing is like sharing stories that connect what people need with what companies offer. It’s an exciting way to make products part of our lives.

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250 Words Essay on Marketing

Understanding the power of marketing.

Marketing: a concept that shapes the modern world. It’s more than just ads and promotions; it’s the engine driving business success. Let’s explore its significance.

The Essence of Marketing

Segmentation and targeting.

Not everyone is interested in the same thing. That’s where segmentation comes in. It divides the vast market into smaller groups with similar traits. Then comes targeting – aiming your efforts at those segments most likely to respond positively.

Value Creation through Branding

Branding isn’t just a logo; it’s the emotions and perceptions associated with a product. Strong brands build trust and loyalty, allowing companies to command premium prices.

The Digital Revolution

The digital age has revolutionized marketing. Social media, search engines, and online ads allow for precision targeting and personalized communication. It’s not about bombarding, but about engaging.

Content is King

In today’s information-rich world, customers seek value before making a purchase. Quality content positions you as an expert, attracting and retaining customers.

Analyzing and Adapting

Marketing isn’t a one-shot deal. It’s a constant process of analyzing results and adapting strategies. Tools like analytics help track what works and what doesn’t, leading to informed decisions.

Ethics in Marketing

With great power comes great responsibility. Marketing should be ethical, transparent, and respectful. Deceptive practices might bring short-term gains, but they erode trust in the long run.

The Bottom Line

In a nutshell, marketing is the bridge that connects what you offer with those who need it. It’s not just about selling but about creating lasting value. Understanding its principles can propel businesses toward success in the modern world.

500 Words Essay on Marketing

Marketing: connecting the dots for successful business.

Marketing is like a magical thread that weaves businesses and customers together, creating a world where products and services find their perfect match. In this modern age, new-age techniques like Virtual and Augmented Reality (VR/AR), Chatbots and Conversational Marketing, Programmatic SEO , Social Commerce, and Neuromarketing have added exciting dimensions to this field. Let’s delve into the basics of marketing and explore how these techniques have transformed the way businesses reach out to us.

Imagine you’ve baked the most delicious cookies in town. You want everyone to know how tasty they are. That’s where marketing comes into play. Marketing involves all the activities that help you promote and sell your products or services. It’s about understanding what people want, creating something they’ll love, and then letting them know it exists.

Meeting New Friends: Customers and Businesses

In the world of marketing, two important players dance together: customers and businesses. Customers are people like you and me who need things. Businesses are the ones that make those things. Marketing helps these two groups find each other.

Traditional vs. Modern Marketing

Getting found: seo.

Think about searching for something online. How often do you go past the first page of search results? That’s why businesses use SEO. It’s like making sure your cookie recipe appears at the top when someone searches for “delicious cookies.” This technique helps businesses get noticed by improving their online visibility.

Understanding Your Brain: Neuromarketing

Ever wondered why some ads just stick in your head? Neuromarketing dives into how our brains respond to ads. Businesses use this technique to create ads that connect with us on a deeper level. It’s like making sure your cookie commercial triggers happy thoughts every time you see it.

Chatting with Businesses: Conversational Marketing

Have you ever had a chat with a robot on a website? That’s Conversational Marketing. Businesses use chatbots to talk to us, answer our questions, and even help us choose the right products. It’s like having a helpful assistant while shopping.

Shopping in Your Pajamas: Social Commerce

Putting it all together.

Marketing is like a puzzle where every piece matters. Businesses create amazing products, use modern techniques like VR/AR, Chatbots, Programmatic SEO, Social Commerce, and Neuromarketing to make us notice them, understand us better, and make shopping a breeze.

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103 Digital Marketing Essay Topic Ideas & Examples

Inside This Article

Digital marketing is a constantly evolving field that requires creativity, strategic thinking, and a deep understanding of consumer behavior. With the rise of social media, online advertising, and search engine optimization, businesses are constantly looking for ways to stand out in the digital landscape.

If you're a student or professional looking for inspiration for your next digital marketing essay, look no further. Here are 103 digital marketing essay topic ideas and examples to help you get started:

• The impact of social media influencers on consumer behavior
• The role of storytelling in digital marketing campaigns
• The rise of video marketing in the digital age
• The importance of personalization in email marketing
• The future of artificial intelligence in digital marketing
• The effectiveness of influencer marketing compared to traditional advertising
• The impact of user-generated content on brand perception
• The role of data analytics in digital marketing strategies
• The benefits of content marketing for small businesses
• The ethics of targeted advertising on social media platforms
• The effectiveness of mobile marketing in reaching younger audiences
• The role of virtual reality in immersive marketing experiences
• The impact of voice search on SEO strategies
• The importance of social listening in digital marketing campaigns
• The benefits of using chatbots for customer service in digital marketing
• The role of gamification in engaging consumers in digital marketing campaigns
• The impact of influencer marketing on brand loyalty
• The effectiveness of email marketing in driving conversions
• The role of social media advertising in reaching new audiences
• The benefits of using data-driven insights to optimize digital marketing campaigns
• The impact of video content on social media engagement
• The effectiveness of using memes in digital marketing campaigns
• The role of virtual events in digital marketing strategies
• The benefits of using interactive content in email marketing campaigns
• The ethics of data collection in digital marketing campaigns
• The impact of social media algorithms on organic reach
• The role of artificial intelligence in personalized marketing experiences
• The effectiveness of using user-generated content in social media campaigns
• The benefits of using influencers for brand collaborations
• The impact of visual storytelling in digital marketing campaigns
• The role of customer reviews in building trust with consumers
• The effectiveness of using social proof in digital marketing strategies
• The benefits of using micro-influencers for niche marketing campaigns
• The impact of social media contests on brand awareness
• The role of brand partnerships in reaching new audiences
• The effectiveness of using retargeting ads in digital marketing campaigns
• The benefits of using interactive quizzes in email marketing
• The impact of personalized recommendations on e-commerce sales
• The role of user-generated content in building community around a brand
• The effectiveness of using augmented reality in digital marketing campaigns
• The benefits of using social media listening tools to track brand sentiment
• The impact of social media influencers on brand perception
• The role of storytelling in building emotional connections with consumers
• The effectiveness of using social media polls to engage audiences
• The benefits of using user-generated content in social media campaigns
• The impact of influencer marketing on brand authenticity
• The role of customer journey mapping in optimizing digital marketing strategies
• The effectiveness of using chatbots for customer service in e-commerce
• The benefits of using social media ads to drive traffic to a website
• The impact of using personalized landing pages in email marketing campaigns
• The role of social media influencers in promoting sustainability initiatives
• The effectiveness of using social media analytics to track campaign performance
• The benefits of using video testimonials in digital marketing campaigns
• The role of data visualization in presenting marketing insights
• The effectiveness of using social media contests to engage audiences
• The benefits of using storytelling to humanize a brand
• The impact of using emojis in social media marketing campaigns
• The role of influencer marketing in promoting diversity and inclusion
• The effectiveness of using social listening tools to track brand sentiment
• The benefits of using user-generated content to build brand advocacy
• The impact of social media influencers on consumer trust
• The role of customer reviews in building credibility for a brand
• The effectiveness of using personalized email campaigns to drive conversions
• The benefits of using interactive content to educate consumers about a product
• The impact of social media influencers on brand loyalty
• The role of data analytics in optimizing digital marketing campaigns
• The effectiveness of using social proof in e-commerce sales
• The benefits of using chatbots for lead generation
• The role of influencer marketing in promoting social causes

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100+ Marketing Essay Topics

Crafting an outstanding marketing essay is a journey that often begins with selecting a compelling topic. At WriteOnDeadline, we understand the importance of this initial step. That’s why we’ve dedicated this post to sharing inspiring marketing essay topics that will not only ignite your passion but also appeal to your professors.

Table of Contents

What is a Marketing Essay?

A marketing essay is a unique academic document that delves into various facets of marketing analysis, strategies, concepts, and applications. It requires students to explore, critically analyze, and present arguments on marketing theories, market strategies, consumer behavior, product promotion, or other related themes. These essays not only test your knowledge of marketing principles but also your ability to research, analyze trends, and convey complex ideas succinctly.

Choosing the Right Marketing Essay Topic: A Mini Guide

Selecting a topic for your marketing essay should be a strategic process. Here’s a quick guide on how to do it:

Start by understanding the requirements for your assignment, as these will narrow down your scope. Then, brainstorm areas of interest within marketing, considering current trends, controversial issues, or gaps in research that intrigue you. Always opt for a topic that resonates with your passions but also challenges you—this balance will make your writing process enjoyable and academically rewarding. Validate your chosen topic by researching initial literature, ensuring there’s enough information available. Finally, seek feedback from peers or instructors before finalizing your topic, ensuring it’s compelling and feasible.

Exciting Marketing Essay Topics to Consider

Choosing a topic can be daunting, so we’ve compiled a diverse list of 30 engaging areas you could explore in your marketing essay.

Understanding Consumer Behavior

• The psychological triggers behind impulsive buying
• How cultural differences influence purchasing decisions
• The impact of social media on consumer behavior

Digital Marketing Strategies

• The effectiveness of influencer marketing
• SEO tactics that dominate current digital marketing
• Evaluating the success of email marketing

Branding and Brand Management

• The journey of building a resilient brand image
• Celebrity endorsements and their impact on brand perception
• Crisis management: Reviving a tarnished brand

Ethical Considerations in Marketing

• Exploring the effects of deceptive advertising
• Ethical marketing: Is honesty more profitable?
• The societal impact of marketing unhealthy food to children

Innovation in Marketing

• How virtual reality is reshaping marketing experiences
• The role of artificial intelligence in personalized marketing
• Sustainable marketing: Shifting towards eco-friendly practices

Global Marketing

• Overcoming cultural barriers in international marketing
• Strategies for Successful Global Brand Expansion
• Localizing products in foreign markets: Best practices

Content Marketing

• The power of storytelling in content marketing
• Strategies for Effective Content Marketing
• Measuring the impact of content marketing

Challenges in Marketing

• Combating digital ad fraud: Strategies and practices
• Navigating marketing strategies during political unrest
• The future of marketing in post-pandemic retail

Foundations of Marketing

• Evolution and transformation of marketing through the ages
• The core principles of marketing and why they matter
• A comparative analysis of the marketing mix: 4Ps vs. 7Ps

Consumer Behavior Insights

• Analyzing the role of emotions in buying decisions
• Generational marketing: How baby boomers and millennials differ in their purchase behaviors
• The increasing role of social proof in the digital age

Trends in Digital Marketing

• The rise and implications of voice search marketing
• Augmented reality: The next big thing in online marketing?
• Chatbots and their effectiveness in customer engagement

Branding Dynamics

• The science behind memorable logos and brand colors
• Merging brands: Challenges and rewards of brand consolidation after M&As
• The anatomy of a successful brand launch

Social Media Marketing

• TikTok and its revolutionary impact on digital marketing strategies
• The ongoing battle for organic reach on Facebook
• Strategies to optimize user engagement on Instagram

Ethics and Morality in Marketing

• The thin line between persuasion and manipulation in advertising
• Greenwashing: Deceptive eco-friendly marketing and its consequences
• Marketing to vulnerable populations: Ethical implications and safeguards

Marketing in the Age of Technology

• Internet of Things (IoT) and its implications for marketers
• Predictive analytics: Harnessing big data for targeted marketing campaigns
• Blockchain technology and its potential uses in marketing

Relationship Marketing

• Building brand loyalty in the era of instant gratification
• Customer relationship management (CRM) tools and their efficacy in retaining consumers
• The art and science of customer journey mapping

Integrated Marketing Communications

• The role of public relations in holistic marketing strategies
• Offline and online marketing synergy: Best practices
• Crafting compelling brand narratives through transmedia storytelling

Niche and Guerrilla Marketing

• The rise of pet influencers: Analyzing niche marketing strategies
• Effective guerrilla marketing campaigns of the last decade: A case study approach
• The balance between risk and reward in ambush marketing

Future of Marketing

• Preparing for the metaverse: Next-generation digital marketing strategies
• The role of biometrics in personalized marketing campaigns
• Adapting to the post-cookie era: New strategies for online ad targeting

Retail and E-commerce Marketing

• The resurgence of pop-up shops in the e-commerce era
• Omnichannel marketing: Bridging the gap between offline and online retail
• Consumer psychology behind free shipping and its impact on online sales

B2B Marketing

• The unique challenges and rewards of B2B influencer marketing
• Crafting compelling case studies as a B2B marketing tool
• Account-based marketing (ABM): Tailored strategies for high-value clients

Marketing and Psychology

• The power of color in influencing consumer choices
• Understanding the anchoring effect in pricing strategies
• Decoding the paradox of choice: Does more variety deter buyers?

Emerging Markets

• Strategies for introducing a product in a newly developing market
• Navigating marketing challenges in BRICS countries
• The role of cultural sensitivity in marketing to emerging economies

Marketing in Healthcare

• Ethical considerations in direct-to-consumer pharmaceutical advertising
• Marketing strategies for telemedicine in a post-pandemic world
• The role of content marketing in healthcare: Educating and promoting

Non-Profit Marketing

• Challenges and strategies for marketing without a profit motive
• The power of storytelling in non-profit marketing campaigns
• Mobilizing social media influencers for charitable causes

Experiential Marketing

• Crafting unforgettable brand experiences for consumers
• Measuring the return on investment (ROI) of experiential marketing campaigns
• The shift from product marketing to experience marketing

Marketing Analytics

• The promise and pitfalls of marketing attribution models
• Utilizing machine learning for predictive marketing analytics
• Integrating qualitative insights into a data-driven marketing strategy

Sustainability in Marketing

• Strategies for marketing eco-friendly products to skeptical consumers
• The long-term benefits of sustainable supply chain marketing
• Authenticity in green marketing: Beyond the buzzwords

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Are you inspired but need that extra boost or strapped for time? Here at WriteOnDeadline, our expert writers specialize in crafting customized marketing essays designed for academic acclaim. Don’t let deadlines or academic pressure hold you back. Contact us today, and let’s turn that chosen topic into a masterpiece of insight and research excellence!

Useful References

To ensure your marketing essay is grounded in credible information, consider these authoritative sources:

• American Marketing Association – Journals and insights from leading marketing experts.
• Google Scholar – Access a wide range of scholarly articles on various marketing topics.
• HBR (Harvard Business Review) – Explore articles from industry leaders and academics.
• The Journal of Consumer Research – Find in-depth studies on consumer behavior.
• AdAge – Stay updated on the latest trends and news in advertising and marketing.

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How to Promote a Product Essay: Strategies for Effective Product Essay Promotion

In today’s fast-paced business world, promoting a product effectively is a critical task. It’s not just about having a great product; it’s about letting the world know about it. In this article, we will delve into the art of crafting a compelling essay on product promotion. Whether you’re a student tasked with writing an academic paper or a business professional looking to enhance your marketing skills, we’ve got you covered.

Understanding the Product

Before you start promoting a product, you need to understand it inside and out. What are its unique features, benefits, and value proposition? Who is your target audience? A thorough understanding of the product is the first step towards successful promotion.

Market Research

Knowing your audience is crucial. Conduct market research to gather insights into consumer behavior, preferences, and demographics. This data will help you tailor your promotion strategies to the specific needs and interests of your audience.

Marketing Mix (4Ps)

The marketing mix, often referred to as the 4Ps, consists of Product, Price, Place, and Promotion. Each element plays a pivotal role in product promotion. Ensure that your product aligns with market demands, price it competitively, choose the right distribution channels, and craft persuasive promotional messages.

Digital Marketing

In today’s digital age, digital marketing is a game-changer. Utilize social media platforms, email marketing, search engine optimization (SEO), and online advertising to reach a wider audience. Creating a strong online presence is key to successful product promotion.

Content Marketing

Content is king. Create valuable, informative, and engaging content that resonates with your target audience. Blog posts, videos, infographics, and case studies can showcase your product’s benefits and establish your brand as an authority in the industry.

Advertising and Promotion

Explore various advertising and promotional channels, both online and offline. Consider options such as pay-per-click (PPC) advertising, influencer marketing, trade shows, and print media to expand your reach.

Measuring Success

Tracking and measuring your promotional efforts are essential. Key performance indicators (KPIs) like website traffic, conversion rates, and return on investment (ROI) will help you gauge the effectiveness of your strategies.

Product Essay Promotion Services by SemiOffice

In addition to the insights provided in this article, we offer specialized services to assist you in your product essay writing and promotion needs. At Semioffice.com , we offer expertly crafted guest posts at a very nominal price. Our team of skilled writers and marketers can help you create compelling product essays and promote them effectively to reach your target audience.

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Unlock the full potential of your product essay with Semioffice’s professional assistance. Contact us today to learn more about our services and take the first step towards promoting your product effectively.

Promoting a product is both an art and a science. By understanding your product, knowing your audience, and employing the right marketing strategies, you can create a powerful essay that drives success. And if you need expert assistance in product essay writing and promotion, remember that Semioffice.com is here to help you achieve your goals.

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Product Development and Marketing, Essay Example

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Introduction

Today, businesses can be started cheap making use of telecommunication and information technology products and developments. Indeed, according to Campbell, 69 percent of new start ups in the United States are home-based. This means that many people are now discovering the power of online collaboration and the low cost of start up associated with an internet business. The below e-marketing plan will be demonstrating how easy it is to come up with an idea and execute an entire marketing plan online. The author of the current marketing plan will focus on entirely internet-based development, promotion, and delivery, in order to simplify the plan and keep the costs associated with starting and running the service at the minimum.

The idea that will be covered in detail in the below paper is based on delivering value added services for customers using internet and mobile technology. The service will be based on the demand for eligible drivers for car sharing in large cities. The selected name is Designated Driver.  It is likely to be popular among people aged 21-30, who regularly take trips to central areas of large cities in the United States, and would not like to use a taxi or public transport service. When people go out for a party, they often struggle with finding a designated driver who would not drink all night. They could get a lift from friends, or take the taxi, sharing the cost of the fare. However, with the new service, bringing together qualified drivers and those who need a ride to town and home, private contracts can be offered on a personal basis.  Both customers and service providers would benefit from the service, as the site and mobile app would connect demand with availability. Customers could save money on their travel, while service providers could get paid for driving around on busy nights, taking multiple customers.

Features of the service

The service would be safe, easy to use on both computers and mobile devices. Payments will be processed online, using a safe,  SSL certificate payment page, and the site would take 25 percent of the fee paid by the customer as a commission every time a deal is made through the site. All drivers registering as service providers would need to be approved, after presenting a clean driving license. They will be regularly checked, and rated by customers to help new users choose the right private driver for their destination.

The service providers will be able to fill out their profile based on how long they are ready to travel, which days and times they are available, and what type of car they drive, how many seats they have, and whether or not they offer a pick up service. Pick up service will also be ordered online.

Customers can create requests online, or search for providers based on their location and specification. They can choose a service provider, send them a request, and once the person confirmed the request, users make payments online, which is held until the customer provides a feedback on the service, when the fee (minus 25 percent commission) is released to the service provider. This gives both the customer and provider the peace of mind that they will get what they agreed to when entering the contract online.

E-marketing research

The above business to customer agency business can become popular through word-of-mouth advertising. A recent publication by the World Economic Forum lists the benefits of online service businesses as follows: operational efficiency, effective communication, and the benefit for the customer provided through flexibility and the ability to personalize services. There are, however, a few risks associated with this type of service business, such as uncertain return on investment (depending on the success of the marketing campaign), and regulatory requirements related to payment processing, personal details, and software security.

The mobile economy has been growing significantly, and is expected to grow in the next decade, as users are now looking for easier, faster, and more flexible solutions to satisfy their needs, according to a recent research by A.T. Kearney. The number of subscribers to mobile internet services is projected to be growing to 3.940 billion people worldwide, according to the table (A.T. Kearney, 2). The total number of SIM-enabled connections is also growing. In North America alone, the growth is predicted to be 10 percent on an annual basis. This means that the pool of potential customers is likely to grow after introducing the new service (website and mobile application).

A Smart Insights study states that 26 percent of internet users now start on branded apps, instead of a website. This indicates that mobile applications are becoming more popular, due to the ease of use, and the speed of the service delivered.

A recent Market Insider article talks about the changing habits of customers related to traveling. Mobile apps are becoming popular among people who are looking for last minute bookings and deals (Business Insider). This also indicates that the new service would be popular among the target market.

Marketing environment analysis

The marketing environment of the apps market offering door-to-door services is only emerging, and while there are several car sharing apps already functional, with Uber being sued over their lack of legislation, it is likely that a private service that does not involve professional drivers would attract some of the customers leaving Uber.

The PESTLE analysis will be carried out below to determine the main drivers, hindering forces, threats, and opportunities within the new market.

The political environment of the market supports new ventures, however, the creators of the service will need to take into consideration the related regulations, in order to avoid penalties, reputation loss, and compliance issues. The example of Uber has shown that regulators carry out several checks and investigate complaints thoroughly, therefore, policies and terms of use, privacy statements and guidelines need to be created, while customer data needs to be safeguarded at all times, to comply with data protection regulations.

The economic environment of the market is currently competitive, with millions off new “practical” apps released each year. While some of them are profitable, there are free alternatives to finding a ride, therefore, the creators of the service will need to ensure that the new app offers more value to customers than other, free applications.

The social environment is pourable for the launch of the new product, as the Pew Social Trends website reports that there is a decline in marriage rates among young people in the United States. There will be more independent, single, and casually dating people working in large cities and living in the suburbs on their own, or with their parents needing a ride for a night out. Social trends confirm a growing market.

The technological environment of the market has partly been discussed already. The rising number of customers with Android or Apple mobile devices providing internet access has been rising in the past few years. Further, the confidence in mobile apps is rising with the increased safety guidelines implied by providers. Using apps is soon becoming a normal way of communicating, ordering services, and managing everyday life for Generation Y customers.

The legal environment brings forward some challenges related to customer privacy, data protection, and taxation issues. Legally, it is likely that service providers will need to register with the IRA to submit their income earned through Designated Driver. Legal challenges and requirements related to checks carried out among drivers and the safety issues are likely to arise, and internal policies need to be carried out to minimize the related risks.

As it has been stated, Generation X and Y customers care about the environment, therefore, if public transport is not available, and they prefer having a drink on the night, they might choose to share a ride, instead of getting a taxi for a single person. The environmental benefits of the service can be major selling points of the app. As the company will not operate an office and call center, the carbon footprint of Designated Driver will be minimum.

Market segmentation

At the moment, there are four major companies competing on the car sharing / car pooling/ private transfer market that have a mobile app: Sidecar, Uber, Lyft, Taxi Magic, and GroundLink (Roof). Customers are only becoming familiar with the thought of sharing a ride or ordering a lift online, therefore, the brand loyalty is low. The top five companies are likely to be taking 90 percent of the sales, however, related statistics have not been released yet.

The demographic market of the application and website is likely to be middle-class customers aged below 45, living in the suburbs of cities. While many people take public transport to get to their destination on a night out, services are limited and are not available in the early morning hours. At the same time, providers who work evening shifts and nights could benefit from earning extra money through the service.

The confidence in mobile payments and applications is still low, however, growing. Confidence level among Generation X and Y customers using the internet and applications is higher than average (Interface).

Target marketing

The target marketing segment will be middle-earners (single or casually dating), aged between 21 and 45. The target customer would live in the suburbs of a large city, and either not have a car, or would prefer having a drink on a night out. The target customer would be technologically enabled, owning a smart Android or iPhone, and be comfortable with ordering services or goods online. They would be registered for online payment systems. The target market segment will also consist of individuals without children, and those who have a social life. Both men and women are likely to be using the application.

The target customer will have a lifestyle that is based around individualism, freedom, and social connections. The market segment would have a strong sense of responsibility for the environment, and one of their motivations to use the service will be to save the environment, as well as to get a discount on their transfer. The target customer will be conscious about drink driving and will be a driver, looking to avoid penalties. The target market will consist of individuals who trust the internet and are receptive to social media recommendations, friends’ suggestions, and are looking to become trend setters. They would be open to new solutions, and happy to try something that is not a traditional way of transport. The target customer will be in work, and make use of the service on weekends mostly, or when traveling to and from airports. The below table will summarize the main characteristics of the target market.

Marketing positioning

While there are several reasons why customers would like to use the service, such as work car pooling, airport transfer, or doing the shopping, the highest demand would be concentrated in large metropolitan areas, and this is where the service should be started. The main focus of the service will not be work car pooling, as this is often offered by large employers anyway, for free. Airport transfers might be something that customers would not order through the app, therefore, the main message of the marketing campaign should be built around having a night out and getting a designated driver.

The main focus of Designated Driver’s market positioning will be based on the lifestyle choices of the target customer. Therefore, based solely on online advertising and partnering with similar applications to create in-app advertisements, the campaign will target those customers who are already using Android or Apple based applications. Another marketing channel that will be able to allow the creators of the service utilize word of mouth advertising will be social media. According to the Social Media Marketing Industry Report, the most commonly used content in social media marketing are originally written content, curated content, infographics, and original videos. Therefore, the marketing campaign for Designated Driver will be based on featuring individual experiences with the service, telling stories about how much safer and cheaper it is to book a ride through the app than to drive or to get a taxi for a night out.

As the main target population of the marketing campaign has already been determined as single or casually dating males and females aged 21-45, who socialize regularly and live outside of the city center of metro areas, the social marketing campaigns will be targeted based on demographic criteria. Facebook allows advertisers to filter the audience of their marketing messages, and this will make the promotion more effective and focused on the right niche market.

Another channel of advertising can be YouTube. While creating and uploading original customer testimonial videos and ads will help create awareness of the service and the app, paid promotion videos can also be placed on popular, related uploaded contents in order to get more traction in the market.

Marketing mix

The product offered will be the service to choose private transfer to and from the city center, using a trusted provider, and make payments securely via online or mobile platforms. This will allow users to reduce their risk of being cheated, and save money. For service providers, the product will be the ability to offer services and earn extra money by transporting people on the way to and from work. The main benefits of the product features determined below are: ease of access, real time feedback, the ability to review the provider’s rating before choosing a service, and flexibility. Users will have full control over their destination, their choices, and their payment options. Another feature and benefit related to the service can be the fact that sharing a ride can significantly reduce the carbon footprint per person. It has been found by Interface’s research that Generation X and Y customers have a high level of concern about environmental issues, therefore, they are likely to make a decision about transfer based on their green priorities.

The place of availability will be over the internet, through an application or online using a desktop or laptop computer. However, there will be initially some geographical restrictions of the service, given the fact that larger cities will have a greater demand for the service, therefore, these markets will become more popular in the first months of the launch. The service will not be offered via phone, or in person, and users will be restricted from getting in touch with providers directly. The place for payment will also be online, and no cash transactions will take place.

The service will be priced based on individual service providers’ preferences. Obviously, those service providers who offer rides while commuting to and from work, and are on the road anyway will charge less for the extra persons than those who would like to make a living of the app, and go around the suburbs of the large city in the early hours of Saturday and Sunday morning, to transport people to and from places. Competition among service providers – particularly in larger cities – will be likely to drive prices down, benefiting customers, and offering them several options to choose from.

As it has been stated previously, promotion of the product will be carried out almost entirely online. Teaming up with other, similar applications (though not competitors) will bring several advantages to the start-up business. The first aim of the marketing campaign will be to create a brand awareness among individuals who are most likely to use the service, and belong to the target population. The second aim will be to create a strong brand using branding videos and viral advertising methods. This approach has the potential to multiply the results of the campaign, as customers will be likely to share their experience and viral videos with their friends who might also be interested in the application. Facebook advertisement will also be selected, as it can create viral campaigns and awareness.

Promotion will be based on real users’ experience in the last phase of the campaign, to connect with potential customers on an emotional level. This way, users of social media can believe that people featured in the ads are just like them, and they are setting a trend, something that is relevant to the market behavior of Generation X and Y customers.

Works Cited

AT Kearney. “The Mobile Economy 2013” 2013. Web. <http://www.gsmamobileeconomy.com/GSMA%20Mobile%20Economy%202013.pdf>

Business Insider. “The Mobile Tourist: How Smartphones Are Shaking Up The Travel Market” 2013. Web. <http://www.businessinsider.com/the-mobile-tourist-how-smartphones-are-shaking-up-the-travel-market-2013-1?IR=T>

Bosomworth, D. “Mobile Marketing Statistics 2015” 2015. Web, <http://www.smartinsights.com/mobile-marketing/mobile-marketing-analytics/mobile-marketing-statistics/>

Campbell, A. “69 Percent of U.S. Entrepreneurs Start Their Businesses at Home” Small Business Trends. 2013. Web.

Interface Space. “In the Spotlight: Generation Y”  n.d. web. <http://www.interfacespace.com/media/docs/Spotlight-On-Generation-Y.pdf>

Pew Research Center. “The Decline of Marriage And Rise of New Families” 2010. Web. <http://www.pewsocialtrends.org/2010/11/18/the-decline-of-marriage-and-rise-of-new-families/>

Roof, K. “Top 5 Car Sharing Apps” 2013. Web. <http://www.thestreet.com/story/11971941/6/top-5-car-sharing-apps.html#>

Statista. “Statistics and Market Data on Mobile Internet & Apps” 2015. Web. <http://www.statista.com/markets/424/topic/538/mobile-internet-apps/>

Stelzner, M. “2014 Social Media Marketing Industry Report. How Marketers Are Using Social Media to Grow Their Businesses” 2014. Web. <http://www.socialmediaexaminer.com/SocialMediaMarketingIndustryReport2014.pdf>

World Economic Forum. “Industrial Internet of Things: Unleashing the Potential of Connected Products and Services” 2015. Web.

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Essay on Marketing: Top 9 Essays on Marketing

Essay on‘Marketing’. Find paragraphs, long and short term papers on ‘Marketing’ especially written for school and college students.

Essay on Marketing

Term Paper Contents:

• Essay on the Challenges and Opportunities of Marketing

Essay # 1. Introduction to Marketing:

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Marketing is everywhere. Everything from presenting yourself for a job interview to selling your products includes marketing. Main objective of any company is to gain profits which can be achieved only through marketing of the products. Marketing enables the companies to create demand and earn profits. If these two aspects are not taken care of, then the company will not survive in the market.

“Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders.” – (American Marketing Association)

“Marketing is a social process by which individuals and groups obtain what they need and want through creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” – (Philip Kotler)

Thus it can be safely said that a company reaches its customer through marketing and communicates to them about the products and services offered by the company.

ADVERTISEMENTS: (adsbygoogle = window.adsbygoogle || []).push({}); Essay # 2. Evolution of Marketing :

In earlier days, an organization was mainly concerned with production of goods. It used to believe on mass production and paid less or negligible attention on quality of the product and the customer’s demand.

After some time, the focus of organization shifted from production of the product to the sale of the product. The concept of marketing emerged gradually in 1970’s after the production and sales era. It took many years for organizations to realize that a customer is the key for making profits in the long run. The marketing concept is evolved through various stages.

These stages are explained below:

1. Production Era :

The production era began with the Industrial Revolution in the 17th century and continued till 1920s. Say’s law – Supply creates its own demand – was applicable in this era. The demand for products was more than the supply in the market; thus, it was a seller’s market. In the production era, the main aim of an organization was to manufacture products faster and at low prices. In this era, customers were concerned only about the availability of products and no importance was given to features and quality of products.

2. Sales Era :

The sales era came into existence in 1920s and continued till the mid of 1950s. This era was marked by the great depression of 1923. The depression proved that manufacturing products was not everything because the sale of the products was also important for organizations to earn profit.

Thus, the need for developing promotion and distribution strategies emerged to sell products. The organizations started advertising their products to increase their sales. Many organizations created specialized market research departments to collect and analyze the prevailing market data.

3. Marketing Era :

The sales era merely focused on selling the goods and ignored the consumers’ needs and demands. The year 1970 marked the advent of marketing era. In the marketing era, organizations realized the importance of customers and started designing the products as per customers’ needs.

Therefore, the marketing era led to the development of customer-centered activities over the production and selling activities. Organizations came up with different techniques, such as customer survey, to collect and analyze data for understanding the customer’s expectations, needs, and wants.

ADVERTISEMENTS: (adsbygoogle = window.adsbygoogle || []).push({}); Essay # 3. Approaches to the Study of Marketing:

The meaning of marketing is different to different people. In common parlance, marketing is the process of selling something at a market place. To a salesman it means selling whereas to an advertising manager it means advertising. To some it means the study of individual commodities and their movement in the market place, to some others marketing means the study of institutions and persons who move their products or study of the economic contributions.

Thus, there are different approaches to the study of marketing:

1. Commodity Approach:

The commodity approach focuses a specific commodity and includes the sources and conditions of supply, nature and extent of demand, the distribution channels used and the functions, such as buying, selling, financing, advertising storage etc. various agencies perform. Prof. Paul Mazur defined as “the delivery of a standard of living to society. Prof. Malcolm McNair expanded the definition to “the creation and delivery of a standard of living”.

2. Institutional Approach:

The institutional approach focuses on the study of various middlemen and facilitating agencies.

3. Functional Approach:

The functional approach considers different kinds of functions recognized for their repetitive occurrences and necessarily performed to consummate market transactions. Converse, Huegy and Mitchell define marketing as the “business of buying and selling and as including those business activities involved in the flow of goods and services between producers and consumers.” American Marketing Association, perhaps, gives more factual or descriptive definition. It defined marketing as the performance of business activities that direct the flow of goods and services from producer to consumer or user.

4. Managerial Approach:

The managerial approach concentrates on the decision making process involved in the performance of marketing functions at the level of a firm. Howard, Phelps and Westing and Lazo and Corbin are the pioneers of the managerial approach.

5. Societal Approach:

The societal approach consider the interactions between the various environmental factors (socio-logical, cultural, political, legal) and marketing decisions and their impact on the well- being of society. Kotler, Feldman and Gist, were the main proponents of the societal approach.

6. Systems Approach:

The systems’ approach is based on Von Bartalanffy’s general systems theory. He defined system as a “set of objects together with the relationships among them and their attributes”. This approach recognizes the inter-relations and inter-connections among the components of a marketing system in which products, services, money, and equipment and information flow from marketers to consumers that largely determine the survival and growth capacities of a firm.

7. Modern Concept:

The new managerial awareness and desire reflected in the consumer orientation for all all-out commitment to the market consideration and to connect all marketing operations to the consumer needs has given birth to a new operational concept. Felton views the marketing concept as “a corporate state of mind that insists on the integration and coordination of all marketing functions that, in turn, are welded with all other corporate functions, for the basic objective of producing maximum long-range corporate profits.

According to Kotler, the marketing concept is a customer orientation backed by integrated marketing aimed at generating customer satisfaction as the key to satisfying organizational goals. According to McNamara,” marketing concept is … a philosophy of business management, based upon a company- wide acceptance of the need for customer orientation, profit orientation, and recognition of the important role of marketing in communicating the needs of the market to all major corporate departments”.

Lazo and Cobin describe marketing concept as ” the recognition on the part of management that all business decisions of a firm must be made in the light of customer needs and wants; hence, that all marketing activities must be under one supervision and that all activities of a firm must be coordinated at the top, in the light of market requirements”. King has given one of the most comprehensive descriptions of the marketing concept. He defined it as, “a managerial philosophy concerned with the mobilization, utilization and control of total corporate effort for the purpose of helping consumers solve selected problems in ways compatible with planned enhancement of the profit position of the firm”.

These definitions suggest that marketing is only concerned with the movement of goods and services from the plant to the consumer. This is thus a production-oriented definition more appropriate for a sellers’ market and dangers in case of buyers’ market. In fact, marketing is related with the sophisticated strategy of attempting to offer what the consumer may want and at a profit.

ADVERTISEMENTS: (adsbygoogle = window.adsbygoogle || []).push({}); Essay  # 4. Objectives of Marketing:

According to Peter F. Drucker, “Marketing means such a perfect understanding of the customer that the product fits him totally and sells itself. Marketing would result in a customer who is ready to buy all that, what should be needed then is to make the product available.”

Organization’s marketing strategies are designed in tune with various marketing objectives.

The objectives of marketing aim at:

1. Creating demand for the products by identifying the needs and wants of customers. The consumers get familiar with the usage of products through different promotional programs, such as advertising and personal selling. This helps in creating demand for the products by the customers.

2. Increasing the market share of the organization. The marketing efforts, such as promotion, create the product awareness in the market. The product awareness helps in capturing the reasonable share in the market by organization.

3. Building the goodwill of the organization in the market. Every organization tries to earn reputation in the market by providing quality goods to the customers. It builds its goodwill by popularizing products supported by advertising, reasonable prices, and high quality.

4. Increasing profits and achieving long-term goals through customer satisfaction. All the marketing activities revolve around the customer. These activities fulfill the organization’s long-term goal of profitability, growth, and stability by satisfying the customer’s demands. All the departments, such as production, finance, human resource, and marketing, coordinate with each other to fulfill the customer’s expectations keeping the maximization of profit as the focus.

Essay # 5. Marketing Process:

Marketing Process —– The marketing process is one that invol­ves the following chain of business activities:

1. Identification and study of the desires, needs, and requirements of the^ consumers;

2. Testing the validity of the consumers’ reaction in respect of product features, price, distribution outlets, new product concepts, and new product introduction;

3. Matching the consumers’ needs with the firm’s offerings and capa­bilities;

4. Creating effective marketing communications and programmes with emphasis on lower price, mass distribution channels and mass advertising to reach numerous market segments so that the consumers know about the product’s availability; and

5. Establishment of resource allocation procedures among the various marketing components like sales promotion, advertisement, distribution, product design, etc. 

Outline of functions in the Marketing Process : In order to place the goods in the hands of the consumers, an integrated group of activities is involved in marketing. Marketing functions cover all those activi­ties which are required for the journey of goods from the producer to the consumer. Goods require some preparations, undergo many operations and pass several hands before they reach the final consumer.

In consideration of the above factors, Clark has divided the modem marketing process into three broad categories as under:

(i) Concentration

(ii) Dispersion

(iii) Equalisation.

These are explained below.

1. Concentration – In a marketing process, concentration is that business activity in which the goods flow from many manufacturers/producers toward a central point or market. If we think of international trade, we find that the customers of a particular corporation or firm world reputation are scattered in different countries and even located thousands of miles, away, and the products are transhipped to points accessible to than. Similar scene is found even in the case of national trade. With the development of trade and commerce, the efforts in the direction of concentration acti­vity have to place more stress on the functions like collection, storage, transportation and inventory of goods in the central markets, and processing of customer’s orders. In addition, the aspects of financing and risk-bearing are also to be taken into consideration.

In India, the concentration activity is undertaken by the Governments at the Central and State levels. Food example, The Food Corporation of India undertakes this activity in case of grains, rice, sugar, etc.

2. Dispersion – In a marketing process, dispersion is that busi­ness activity in which the goods flow from the central locations to the final consumers. The wholesalers and retailers play a great role in this activity. This activity involves many other supporting activities like classification, gradation, storage and transportation of goods. The func­tional aspects of finance and risk-bearing need important considerations.

In India, the agencies like The State Trading Corporation of India, The Minerals and Metals Trading Corporation of India, and The Food Corpora­tion of India undertake this dispersion or distribution activity in respect of certain specified goods. Sane large scale manufacturing companies have, of late, undertaken this activity as a part of their marketing activities.

3. Equalisation – In a marketing process, equalisation refers to the adjustment of supply to demand on the basis of tint, quality, and quantity. This process helps to maintain the state of equilibrium between the forces of demand and supply. The primary responsibility of a business unit towards the consumers and customers is to make available the right products of right qualities at the right tine, in right quantity, at the right place and at the right price. The equalisation activity can serve these objectives.

Essay # 6. Integrated Marketing Communication Process:

Marketers operate is a very dynamic environment characterised by changing customer needs and wants, severe competition, changing process technology, advancements in information technology, government regulations, etc. That is why, they are adopting Integrated Marketing Communication (IMC).

Integrated Marketing Communication (IMC) involves integration of company’s various communication channels to deliver a clear, consistent and compelling message about the company and its products and brands. Most of the companies communicate with target customers by using promotion tools like advertising, personal selling, sales promotion, public relations and direct marketing. Through each of these tools, some message is transmitted to the target customers. IMC calls for careful blending of these promotional tools to ensure effective communication.

Integrated Marketing Communication (IMC) requires developing a total marketing communication strategy that recognises that all of a firm’s marketing activities (not just promotion) communicate with its customers. Everything a marketer does sends a message to the target market.

The EMC approach is an improvement over the traditional approach of treating various promotional activities as totally separate. It helps to develop the most suitable and effective method to contact customers and other stakeholders.

Often different tools play different roles in attracting, informing and persuading target customers. These tools are carefully coordinated under IMC so that they provide the same clear and consistent information about the company and its products/brands.

IMC leads to a total marketing communication strategy aimed at building strong customer relationships by showing how the company and its products can help customers solve their problems. It ties together all of the company’s messages and images.

The company’s television and print advertisements have the same message, look, and feel as its e-mail and personal selling communications. And its public relations materials project the same image as its Website or social network presence.

Communication Process:

Definition of Communication:

The term ‘communication’ is derived from the Latin word ‘communis’ which means common. That means if a person communicates with another, he establishes a common group of understanding. According to Newman, Summer and Warren, “Communication is an exchange of facts, ideas, opinions or emotions by two or more persons”.

Communication does not mean merely sending or receiving message. It involves understanding also. It is, in fact, a bridge of meaning and understanding between two or more people. Thus, communication is a two- way process.

The salient features of communication are as follows:

(i) Communication involves at least two persons—one who sends the message and the second who receives the message.

(ii) Communication is a two-way traffic. The process of communication is not completed until the message has been understood by the receiver. Understanding is an essential part of communication, but it does not imply agreement.

(iii) The basic purpose of communication is to create an understanding in the mind of the receiver of information.

(iv) Communication may take several forms, e.g., order, instruction, report, suggestion grievance, observation, etc. The message may be conveyed through words spoken or written, or gestures.

Elements of Communication:

Communication is a process involving exchange of facts, viewpoints and ideas between persons placed in different positions in the organisation to achieve mutual understanding as shown in Fig. 11.5. The communication process starts when the sender or communicator has a message communicate to some other person known as receiver. It will be completed when the receiver gets the information and sends feedback to the communicator.  

The essential elements of communication are described below:

(i) Sender or Communicator:

The person who conveys the message is known as communicator or sender. By initiating the message, the communicator attempts to achieve understanding and change in the behaviour of the receiver. In case of marketing it is the marketer (sender) who starts the communication process.

(ii) Message:

It is the subject-matter of any communication. It may involve any fact, opinion or information. It must exist in the mind of the communicator if communication process is to be initiated. In marketing, the marketer’s message relates to product, price and place.

(iii) Encoding:

The sender of information organises his idea into a series of symbols (words, signs, etc.) which, he feels, will communicate to the intended receiver or receivers. This is called encoding of message. Communication may take place through physical gestures also.

(iv) Media or Communication Channel:

The communicator has to choose the channel for sending the information. Communication channels are the media through which the message passes. It may be either formal or informal. In marketing, media may be salespersons, advertisement and publicity.

(v) Receiver:

The person who receives the message is called receiver. The communication process is incomplete without the existence of receiver of the message. It is the receiver who receives and tries to understand the message. The receiver in case of marketing is the prospective or present customer.

(vi) Decoding:

After the appropriate channel or channels are selected, the message enters the decoding stage of the communication process. Decoding is done by the receiver. Once the message is received and examined, the stimulus is sent to the brain for interpreting, in order to assign some type of meaning to it. It is this processing stage that constitutes decoding. The receiver begins to interpret the symbols sent by the sender, translating the message to his own set of experiences in order to make the symbols meaningful.

(vii) Response:

Response refers to the set of reactions that the receiver has after being exposed to the message. In case of advertising, a response may mean developing a favourable attitude towards the product as a result of an advertising campaign. However, in many cases, measuring such responses is not easy.

(viii) Feedback:

Communication is completed when the communicator receives feedback information from the receiver. The feedback may reveal that the receiver has understood the message. It may also contain information about the action taken by the receiver on the basis of message sent by the communicator. Thus, feedback is the backbone of effective communication.

(ix) Noise:

Noise is a very common thing we observe in our day-to-day interaction with others. At times it affects adversely the effectiveness of communication. For example, if a person is talking over the phone to another and there is a noise around him, he will feel great difficulty in listening to the person at the other end of the phone. Even the noise can affect the voice of the sender of the message.

Hurdles or Difficulties in Marketing Communication:

There are four factors which might create hurdles or problems in communication between the marketer and the target customer.

These hurdles include noise, selective attention, selective distortion and selective retention as discussed below:

Noise is a sort of interfering sound in the communication process anywhere along the way from the sender to the receiver and vice versa. It can be sound of running bus, two persons talking close at hand or someone shouting around. Noise of any kind has the potential of creating disruption or barrier to effective communication. The sources of noise can be both internal and external. Noise within the office can be controlled, but it is very difficult to control the external noise.

Noise is one of the biggest obstacles in marketing communication. For example, a driver’s need to provide safety to the traffic sidetracks the role of billboards, banners, etc. during disturbed weather conditions —wind, dust storm, rain, etc. Similarly, too much advertisement exposure during the day of purchase of tyre for a car, would disturb the planned purchasing.

These constitute noise in the communication process. The level of noise may not allow a customer to receive the message as intended. The effectiveness of communication depends upon the level of congruity and compatibility between different elements of the communication.

(ii) Selective Attention:

A person may be exposed to hundreds or thousands of ads or brand communications in a day. Because a person cannot possibly attend to all of these, most stimuli will be screened out. This process is called selective attention. Because of this, the marketers have to work hard to attract consumer’s notice. Generally, people are more likely to notice stimuli that relate to a current need.

Thus, a person who is motivated to buy a car is most likely to notice car ads. The process of selective attention explains why advertisers make extra efforts to grab the audience’s attention through fear, music, or bold headlines.

(iii) Selective Distortion:

Selective distortion is the tendency to interpret information in a way that fit one’s perception. Consumers often distort information to be consistent with prior brand and product beliefs. Thus, the target audience will hear what fits into their belief systems.

As a result, receivers often add things to the message that are not there and do not notice other things that are there. The advertiser’s task is to strive for simplicity, clarity, interest and repetition to get the main points across.

(iv) Selective Retention:

People retain in their long-term memory only a small fraction of the messages that reach them. If the receiver’s initial attitude towards the brand is positive and he rehearses support arguments (that is, tells himself things such as the product is in fashion or that it is reasonably priced or that it delivers good value, etc.), the message is likely to be accepted and have high recall.

If the initial attitude towards the brand is negative and the person rehearses counter arguments (that is, tells himself that the product is highly overpriced or that the competing products offer more value to customers or that the brand is not doing well in the market, etc.) the message is likely to be rejected but to stay in long-term memory.

Thus, the advertiser’s task is two-fold here. He not only has to create an initial favourable attitude towards the brands but also through his ads communicate to the audience strong points about the brands so that the customers can rehearse the same and the brand is positively placed in the long-term memory of the customers.

Essay # 7. Role of Marketing in Economic Development :

In today’s era of globalization role of marketing is increasing to fulfill different needs and requirements of people. Due to increase in scale of production and expansions of markets, producers need support of marketing tools to distribute their goods and services to the real customer.

High competition in market and product diversification has increased the marketing activities like advertising, storage, sales promotion, salesmanship etc. Now high profits can be attained by high sales volume and good quality of products and services. Marketing has acquired an important place for the economic development of the whole country. It has also become a necessity for attaining the objective of social welfare and high quality of life.

The importance of marketing can be explained as under:

(a) Importance of Marketing to a Firm:

Marketing is considered to be the prime activity among all the business activities. Success of any business depends on success of marketing. Peter F. Drucker has rightly said that, “Marketing is the business.” Objective and goals of any organization can be achieved through efficient and effective marketing polices. The success of an enterprise depends to a large extent upon the success of its marketing activities.

The importance of marketing to the firm can be explained as under:

1. Marketing in Business Planning and Decision Making:

Marketing research is helpful in searching opportunities and potential in market. It is necessary for an organization to decide what can be sold before deciding that what can be produced. Unless and until these key decisions are taken, it is not practical to take the decisions regarding production, quality of product, type of product and quantity of production etc.

Marketing is very helpful in taking all such decisions therefore its plays an important role in business planning. Marketing provides valuable information regarding production policies, pricing policies, advertisement and sales promotion policies of competitors, so that a suitable policy may be formulated by the top management.

2. Increase in the Profits:

The main objective of every firm is to increase the profitability by successful operations of its activities. Maximization of profits can be possible only through the successful operations of its activities. Marketing department need the help of other departments as well for discharging its duties successfully, marketing department coordinate with other departments like finance, production, to fulfill the needs of customers and regular supply according to market demand.

3. Flow of Marketing Communication:

Integrated marketing communication makes it possible to flow marketing information to intermediaries, publics and customers. Marketing acts as a medium of communication between the society and the firm. Various information regarding trends, needs, attitudes, fashions, taste preferences etc., are collected by marketing department.

(b) Importance of Marketing to the Society:

1. To Uplift Standard of Living:

Ultimate objective of marketing is to produce goods and services for the society according to their needs and tastes at reasonable prices. Marketing discovers the needs and wants of the society, produces the goods and services according to their needs, creates demand for these goods and services encourages consumers to consume them and thus improves the standard of living of the society. By advertising utility and importance of products and services are communicated to the people.

2. To Decreases the Total Marketing Cost:

Next important responsibility of marketing is to control the cost of marketing. Distribution cost and production cost can be decreased by creation of high demand in market. Decrease in cost of production will have two impacts, firstly the high profitability of organization and secondly to increase in the market share of the firm.

3. Increase in the Employment Opportunities:

Marketing provides direct and indirect employment in society. Employment opportunities are directly related with the development of marketing. Successful operation of marketing activities requires the services of different enterprises and organizations such logistics, warehousing, transportation, retailing finance, etc.

4. In controlling Business Fluctuations:

Business fluctuations like recession and depression causes unemployment, and deflation. Marketing helps in protecting society against all these problems. Marketing helps in innovation and discovery of new markets for the goods, modifications and alterations in the quality of the product and development of alternative uses of the product. It reduces the cost of production and protects the business enterprise against the problem of recession.

5. Increase Per Capita Income:

Marketing operations create, maintain and increase the demand for goods and service. Marketing activities flow money from one part of economic system to other. By generation of new employment opportunities it helps to increases income of people.

(c) Importance of Marketing in Economic Development:

Marketing plays an important role in the development of a country. Most of developed countries like USA, Japan, and Germany are having strong marketing system, they are moving towards global marketing. Industrial growth and development need support of marketing, large scale of production requires new markets. In these countries, the production exceeds the demand it need marketing system to be much more effective so that the produced goods and services can be sold.

Marketing has a vital role to play in the development of an underdeveloped and developing economy. In developing economies the industrialization and urbanization is increasing at a faster rate and so the importance of marketing is also increasing as it is required for selling the produced goods and services. A rapid development of underdeveloped economy is possible only if the modern techniques of marketing are used in these countries marketing activities are increasing at a fast rate in developing countries.

Essay # 8. Importance of Marketing :

Role of Marketing in a Firm :

Efficient marketing management is a pre-requisite for the successful operation of any business enterprise. A business organisation is differentiated from other organisations by the fact that it produces and sells products.

The importance of marketing in modern business is discussed below:

Marketing is the beating heart of the business organisation. The chief executive of a business cannot plan, the production manager cannot produce, the purchase manager cannot purchase, and the financial controller cannot budget until the basic marketing decisions have been taken. Many departments in a business enterprise are essential for its growth, but marketing is still the sole revenue producing activity. Marketing function is rightly considered the most important function of management.

Marketing gives top priority to the needs of customers. Quality of goods, storage, display, advertisement, packaging, etc. are all directed towards the satisfaction of customer.

Marketing helps in the creation of place, time and possession utilities. Place utility is created by transporting the goods from the place of production to consumption centres. Time utility is created by storing the goods in warehouses until they are demanded by customers. Possession or ownership utility is created through sale of goods. The significance of marketing lies in the creation of these utilities to satisfy the needs of the customers and thereby earn profit. It a firm is able to satisfy its customers, it will have better chances of survival and growth even in the fast changing environment.

Marketing generates revenue for the business firm. Marketing is an important activity these days, particularly in the competitive economies. Marketing generates revenue for the business enterprises. No firm can survive in the long-run unless it is able to market its products. In fact, marketing has become the nerve-centre of all human activities.

Role of Marketing in the Economy :

Marketing plays a significant role in the growth and development of an economy. It acts as a catalyst in the economic development of a country by ensuring better utilisation of the scarce resources of the nation. Since a business firm generates revenues and earns profits by its marketing efforts, it will engage in better utilisation of resources of the nation to earn higher profits.

Marketing determines the needs of the customers and sets out the pattern of production of goods and services necessary to satisfy their needs. Marketing also helps to explore the export markets.

Marketing helps in improving the standards of living of people. It does so by offering a wide variety of goods and services with freedom of choice. Marketing treats the customer as the king around whom all business activities revolve. Besides product development, pricing, promotion, and physical distribution of products are carried out to satisfy the customer.

Marketing generates employment for people. A large number of people are employed by modern business houses to carry out the functions of marketing. Marketing also gives an impetus to further employment facilities. In order to ensure that the finished product reaches the customer, it passes through wholesalers and retailers and in order to perform numerous jobs, many people are employed.

On the whole, marketing leads to economic development of a nation. It increases the national income by bringing about rise in consumption, production and investment. It mobilises unknown and untapped resources and also facilitates full utilisation of production capacity and other assets. It helps in the integration of industry, agriculture and other sectors of the economy. It also contributes to the development of entrepreneurial and managerial talent in the country.

Essay # 9. Challenges and Opportunities of Marketing:

A large number of changes have taken place in the recent years which have influenced the field of marketing as discussed below:

1. Globalisation :

The term ‘globalisation’ means the process of integration of the world economy into one huge market through the removal of all trade barriers or restrictions among countries. In India, restrictions on imports and exports and inflow and outflow of capital and technology have been lifted by the Central Government so that Indian business may become globally competitive.

The broad features of globalisation are as follows:

(i) Free flow of goods and services across national frontiers through removal or reduction of trade barriers.

(ii) Free flow of capital across nations.

(iii) Free flow of technology across nations.

(iv) Free movement of human resources across nations.

(v) Global mechanism for the settlement of economic disputes.

The aim of globalisation is to look upon the world as a ‘global village’ which would allow free flow of goods, capital, technology and labour between different countries. Because of globalisation, there has been a tremendous impact on marketing strategies of business firms, particularly engaged in international marketing. They have to design product, price, promotion, place or distribution strategies to meet the challenges of global marketing.

2. Information Technology (IT) :

Information technology has enabled real-time access and sharing of digital information through digital networks, information database, and computer graphics. It has brought about many changes in the business landscape.

Electronic technology has facilitated purchase and sale of goods and services electronically. E-Commerce can be used not only to market product, but also to build better customer relationships. Thus, marketers are facing new challenges as regards booking of e-orders, e-deliveries of intangible products, receiving e-payments and Customer Relation Management (CRM).

3. Increased Leisure Time :

As a result of shorter working week, vacations, and labour-saving devices available for domestic use, most wage-earners now enjoy more leisure time. So there has grown a market for articles used for recreational purposes to enjoy the leisure time. In the developing countries also, cinema shows, holiday trips, sports and games have come into importance.

4. Changing Role of Women :

Throughout the world more and more women are taking up jobs and have gained economic independence to a large extent. They accept even challenging jobs. They also exert greater influence on buying decisions of their families. It may happen that husband buys a commodity according to the decision of the wife. This has necessitated special study of the buying motives of the working women.

5. Demand for Services :

Over the years, consumers’ demand for services is on the rise as in case of tour and travel, educational, medical, repair and maintenance services, etc. Due to growing complexity, business firms also need expert services like accounting, taxation, advertising, customer care, etc.

6. Increased Competition :

Business has become more competitive these days and this has brought about many changes in the field of marketing, e.g., product differentiation, competitive pricing, competitive advertising, customer support services, etc.

7. Social Emphasis :

Marketing is now concerned with the long-term health and happiness of consumers and well-being of society. Marketers in are getting involved in improving the quality of life of consumers and preventing or minimising the evil effects of environmental pollution on the society by practising green marketing.

Emerging Concepts in Marketing :

1. Social Marketing:

It refers to the design, implementation, and control of programs seeking to increase the acceptability of a social idea, cause, or practice among a target group. For instance, a recent publicity campaign for prohibition of smoking in Delhi explained the place where one can and can’t smoke in Delhi.

2. Relationship Marketing:

It is the process of creating, maintaining, and enhancing strong value-laden relationships with customers and other stakeholders. For example, British Airways offers special lounges with showers at many airports for frequent flyers. Thus, providing special benefits to valuable the customers to strengthen bonds will go a long way in building relationships.

To achieve relationship marketing, a marketer has to keep in touch with the regular customers, identify most loyal customers to provide additional services to them, design special recognition and reward schemes, and use them for building long-term relationships.

3. Direct Marketing:

It means marketing through various advertising media that interact directly with consumers, generally calling for the consumer to make a direct response. Direct marketing includes Catalogue Selling, Mail Order, Tele computing, Electronic Marketing, Selling, and TV Shopping.

4. Service Marketing:

It is applying the concepts, tools, and techniques, of marketing to services. Service is any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Services may be financial, insurance, transportation, banking, savings, retailing, educational or utilities.

5. Non-Business Marketing:

Marketing is applied not only to business firms but also to non-business organisations. Voluntary institutions are adopting principles and practices of marketing to promote their ideologies, schemes and programs among the target groups.

Related Articles:

• Essay on Marketing: Top 5 Essays | Marketing Management
• Essay on Sales Promotion: Top 4 Essays | Functions | Marketing Management
• Marketing Features: 4 Major Features of Marketing – Explained!
• Difference between Marketing and Selling

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What is Marketing, and What's Its Purpose?

Updated: January 24, 2022

Published: February 25, 2021

Dictionary.com defines marketing as, "the action or business of promoting and selling products or services, including market research and advertising."

If you work in a marketing role like I do, it's probably difficult for you to define marketing even though you see and use it every day -- the term marketing is a bit all-encompassing and variable for a straightforward definition.

This definition feels unhelpful.

The selling part, for instance, overlaps a little too snuggly with a "what is sales" definition, and the word advertising makes me think of Mad Men brainstorming sessions.

But upon digging deeper, I began seeing that actually, marketing does overlap heavily with advertising and sales. Marketing is present in all stages of the business, beginning to end.

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What is marketing?

Marketing refers to any actions a company takes to attract an audience to the company's product or services through high-quality messaging. Marketing aims to deliver standalone value for prospects and consumers through content, with the long-term goal of demonstrating product value, strengthening brand loyalty, and ultimately increasing sales.

At first, I wondered why marketing was a necessary component during product development, or a sales pitch, or retail distribution. But it makes sense when you think about it -- marketers have the firmest finger on the pulse of your consumer persona.

The purpose of marketing is to research and analyze your consumers all the time, conduct focus groups, send out surveys, study online shopping habits, and ask one underlying question: "Where, when, and how does our consumer want to communicate with our business?"

Here, let's explore the purposes of marketing, along with types of marketing, the 4 P's of marketing, and the difference between marketing and advertising.

Whether you're a seasoned marketer looking to refresh your definitions, or a beginner looking to understand what marketing is in the first place, we've got you covered. Let's dive in. 

Purpose of Marketing

Marketing is the process of getting people interested in your company's product or service. This happens through market research, analysis, and understanding your ideal customer's interests. Marketing pertains to all aspects of a business, including product development, distribution methods, sales, and advertising.

Modern marketing began in the 1950s when people started to use more than just print media to endorse a product. As TV -- and soon, the internet -- entered households, marketers could conduct entire campaigns across multiple platforms. And as you might expect, over the last 70 years, marketers have become increasingly important to fine-tuning how a business sells a product to consumers to optimize success.

In fact, the fundamental purpose of marketing is to attract consumers to your brand through messaging. Ideally, that messaging will helpful and educational to your target audience so you can convert consumers into leads.

Today, there are literally dozens of places one can carry out a marketing campaign -- where does one do it in the 21st century?

Types of Marketing

Where your marketing campaigns live depends entirely on where your customers spend their time. It's up to you to conduct market research that determines which types of marketing -- and which mix of tools within each type -- is best for building your brand. Here are several types of marketing that are relevant today, some of which have stood the test of time:

• Internet marketing: Inspired by an Excedrin product campaign that took place online, the very idea of having a presence on the internet for business reasons is a type of marketing in and of itself.
• Search engine optimization: Abbreviated "SEO," this is the process of optimizing content on a website so that it appears in search engine results. It's used by marketers to attract people who perform searches that imply they're interested in learning about a particular industry.
• Blog marketing: Blogs are no longer exclusive to the individual writer. Brands now publish blogs to write about their industry and nurture the interest of potential customers who browse the internet for information.
• Social media marketing: Businesses can use Facebook, Instagram, Twitter, LinkedIn, and similar social networks to create impressions on their audience over time.
• Print marketing: As newspapers and magazines get better at understanding who subscribes to their print material, businesses continue to sponsor articles, photography, and similar content in the publications their customers are reading.
• Search engine marketing: This type of marketing is a bit different than SEO, which is described above. Businesses can now pay a search engine to place links on pages of its index that get high exposure to their audience. (It's a concept called "pay-per-click" -- I'll show you an example of this in the next section).
• Video marketing: While there were once just commercials, marketers now put money into creating and publishing all kinds of videos that entertain and educate their core customers.

Marketing and Advertising

If marketing is a wheel, advertising is one spoke of that wheel.

Marketing entails product development, market research, product distribution, sales strategy, public relations, and customer support. Marketing is necessary in all stages of a business's selling journey, and it can use numerous platforms, social media channels, and teams within their organization to identify their audience, communicate to it, amplify its voice, and build brand loyalty over time.

On the other hand, advertising is just one component of marketing. It's a strategic effort, usually paid for, to spread awareness of a product or service as a part of the more holistic goals outlined above. Put simply, it's not the only method used by marketers to sell a product.

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Here's an example (keep reading, there's a quiz at the end of it):

Let's say a business is rolling out a brand new product and wants to create a campaign promoting that product to its customer base. This company's channels of choice are Facebook, Instagram, Google, and its company website. It uses all of these spaces to support its various campaigns every quarter and generate leads through those campaigns.

To broadcast its new product launch, it publishes a downloadable product guide to its website, posts a video to Instagram demonstrating its new product, and invests in a series of sponsored search results on Google directing traffic to a new product page on its website.

Now, which of the above decisions were marketing, and which were advertising?

The advertising took place on Instagram and Google . Instagram generally isn't an advertising channel, but when used for branding, you can develop a base of followers that's primed for a gentle product announcement every now and again. Google was definitely used for advertising in this example; the company paid for space on Google -- a program known as pay-per-click (PPC) -- on which to drive traffic to a specific page focused on its product. A classic online ad.

Where did the marketing take place? This was a bit of a trick question, as the marketing was the entire process . By aligning Instagram, Google, and its own website around a customer-focused initiative, the company ran a three-part marketing campaign that identified its audience, created a message for that audience, and delivered it across the industry to maximize its impact.

It’s important to know that this type of marketing campaign requires proper coordination and monitoring of multiple channels. You need to adapt your approach to each specific channel, yet get them to yield the same results -- generate revenue.

This is where a unified marketing software solution can come in handy. It includes the tools necessary to monitor and manage campaigns across multiple channels -- from websites to emails, and online advertisements.

The 4 Ps of Marketing

In the 1960's, E Jerome McCarthy came up with the 4 Ps of marketing: product, price, place, promotion.

Essentially, these 4 Ps explain how marketing interacts with each stage of the business.

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Let's say you come up with an idea for a product you want your business to sell. What's next? You probably won't be successful if you just start selling it.

Instead, you need your marketing team to do market research, interpret marketing analytics data into actionable insights, and answer some critical questions: Who's your target audience? Is there market fit for this product? What messaging will increase product sales, and on which platforms? How should your product developers modify the product to increase likelihood of success? What do focus groups think of the product, and what questions or hesitations do they have?

Marketers use the answers to these questions to help businesses understand the demand for the product and increase product quality by mentioning concerns stemming from focus group or survey participants.

Your marketing team will check out competitors' product prices, or use focus groups and surveys, to estimate how much your ideal customer is willing to pay. Price it too high, and you'll lose out on a solid customer base. Price it too low, and you might lose more money than you gain. Fortunately, marketers can use industry research and consumer analysis to gauge a good price range.

It's critical that your marketing department uses their understanding and analysis of your business's consumers to offer suggestions for how and where to sell your product. Perhaps they believe an ecommerce site works better than a retail location, or vice versa. Or, maybe they can offer insights into which locations would be most viable to sell your product, either nationally and internationally.

This P is likely the one you expected from the get-go: promotion entails any online or print advertisement, event, or discount your marketing team creates to increase awareness and interest in your product, and, ultimately, lead to more sales. During this stage, you'll likely see methods like public relations campaigns, advertisements, or social media promotions.

Hopefully, our definition and the four Ps help you understand marketing's purpose and how to define it. Marketing intersects with all areas of a business, so it's important you understand how to use marketing to increase your business's efficiency and success.

Editor's note: This post was originally published in May 2018 and has been updated for comprehensiveness.

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Service and Product Marketing

Marketing is a core element to any business’s survival in the world. Marketing may be the key factor that determines if a business will hold on or go under. This is true especially at this time when the stiff competition has driven many businesses out of operation. People in the service industry and those marketing products often use different marketing techniques to attain their objectives. However, some people disagree with this point and claim that good marketing is just good marketing whether it is in the service or product industry. However, I highly think that product and service marketing is fundamentally different. (Rodriguez)

Many factors differentiate service marketing from product marketing. Key among these is the intangible nature of services. Since services cannot be touched, assessment of their value is almost impossible. In most cases, when one is offered a service, it may be many years before one gets to know how good the service really was. This is unlike product marketing where you get to know the effectiveness of the product almost immediately. This intangibility nature of services calls for a different marketing strategy from that of products since most clients want something they can “touch”. (Marketing Teacher 2000)

Another element that separates service and product marketing is the inseparable nature of services. Traditionally, the production of services is inseparable from its use. This makes it important for service marketers to be careful on how they conduct their marketing since the client is literary watching its production. This is unlike in product marketing where a client gets only the finished product. Where marketers can involve the client in determining the level of personalization required, this does not happen in product marketing since the products can be separated from their use. This calls for the strategy of marketing services and that of products to be fundamentally different. (Coldren 2006)

Another key factor that separates service and product marketing is the variability of services. The quality that can be gotten from one service can vary from one marketer to another. This is because individuals offer the services and it is hard to control one’s behavior. This variation can also be brought by the time of the month or time of the day that the service is being offered. This is unlike marketing a product where its functionality is always consistent. According to Cynthia Coldren, it is always risky to have one person establishing the initial relationship while another person delivers the service (Coldren 2006) This can irritate the clients and make them reject the service. This is unlike in product marketing and delivery since two different people can market and deliver the product respectively. (Coldren 2006)

The other element and probably the key difference between product and service marketing is the perishability of services. Unlike products, services cannot be stored for future use. This is most cases affects the performance of a different service in the market. Those in the business of marketing products have the advantage of scheduling production or even using inventory management an advantage that their counterparts in service production do not have. This then calls for a different marketing technique between the two. (Marketing Teacher 2000)

Although some people maintain that service and product marketing are carried out the same way, the reality on the ground shows a completely different picture. The perishability, inconsistency, inseparability and intangibility of services make it hard to market them the way one would do to a product. Understanding the existing differences, therefore, makes marketers take a different angle in their marketing from that of product marketers.

Coldren, C. (2006). Four Factors That Distinguish Services Marketing , Web.

Marketing Teacher. (2000) “Services Marketing and the Extended Marketing Mix (7P’s)” What is services Marketing? 2010. Web.

Rodriguez, G. Marketing a Service Business , 2010. Web.

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• Marketing 9 Product Description Writing Examples to Steal in 2023

9 Product Description Writing Examples to Steal in 2024

• Emily is WebFX’s Content Delivery Lead . She holds an M.S. in digital marketing and leads the FX content team, along with strategy, implementation, and evaluation for WebFX’s key revenue channels. Her work has been featured by Social Media Today, Campaign Monitor, Reader’s Digest, Yahoo, and more. In her free time, she enjoys hiking, road trips, and exploring new cities. Follow her on Twitter @emcarter16 or connect on LinkedIn . @emcarter16

U.S. consumers will spend nearly $500 million on ecommerce purchases this year. As ecommerce sales continue to grow, online retailers have an incredible opportunity to boost sales and revenue.

But since 96% of people leave websites without purchasing, you need to make it easy for them to find the info they need to purchase. Writing clear, informative product descriptions that demonstrate the benefits of your products will help you sell more online and extend your product life cycle . In this post, we’ll take a look at how to write a product description that converts — and highlight nine killer product description examples you can steal for inspiration.

Keep reading for nine creative product description writing examples. Or contact us online to speak directly with an ecommerce expert!

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1. Present product features as benefits

You’re proud of your product features — and for good reason. But listing off impressive features isn’t enough to make people buy. Instead, turn your product features into benefits, and show shoppers how your items make their lives easier.

Product description writing example: Backcountry

First on our list of product description examples — Backcountry sells chalk bags, chock-full of benefits for climbing enthusiasts.

• Fleece-lined interior
• Shockcord closure
• Removable waist belt
• Feels soft against battered hands
• Prevents chalk from spilling
• Saves space on your harness

Backcountry does a great job of enticing shoppers to buy with product features presented as benefits.

How you can do it: Think about how your product features add value for customers and add the benefits as bulleted lists in your product descriptions.

2. Anticipate pain points

Writing product descriptions that anticipate and solve buyer pain points combats purchase anxiety. By clearly explaining how product features address pain points, you demonstrate how your products make customers’ lives easier — and they’ll feel more confident in their purchase decisions.

Product description writing example: Nike

Nike does a good job of anticipating pain points and showcasing their products as ideal solutions. For instance, this product description example for their trail running shoes explains how product features help runners conquer “wet, rocky” conditions often experienced on trail runs.

How you can do it: Use your product descriptions to share how your products solve problems for customers and make their lives easier.

3. Show off your brand’s personality

Showing off your personality spices up your product description writing and helps customers connect with your brand. Creative copy increases your relatability and appeal — and it helps you stand out from competitors online.

Product description writing example: Dollar Shave Club

How you can do it: Your brand’s signature style sets you apart online, so don’t be afraid to weave it into your product descriptions.

4. Incorporate reviews and social proof

Highlighting reviews and star ratings along with your product descriptions adds social proof that encourages people to buy — especially if they’re on the fence about purchasing. Since consumers trust online reviews 12x more than product descriptions , it’s a smart idea to add reviews to your product pages. And adding reviews boosts trustworthiness, conversions, and revenue for your online business.

Dollar Shave Club checks another box on our list of product description examples.

How you can do it: Highlight reviews along with product descriptions to boost credibility and trust among shoppers.

5. Use emotive, sensory words

When writing product descriptions, you want to use sensory words that help shoppers envision themselves using your product or service. Using sensory words appeals to emotion — and it can enhance the consumer behavior process to inspire more purchases.

Product description writing example: Airbnb

This non-traditional product description example comes from Airbnb. Sensory words bring this experience listing to life and help visitors envision themselves in the space.

How you can do it: Incorporate sensory words that bring your product descriptions to life and connect with shoppers on an emotional level.

6. Make your descriptions scannable

Including easy-to-skim specs in your product descriptions helps shoppers pick out key information that impacts purchases. Use bullet points and graphics to highlight important features and show what makes your products the best on the market.

Product description writing example: REI

If shoppers want more information about the tent, they can scroll down to check out additional specs and features.

How you can do it: Use bulleted lists and graphics to highlight product info and give visitors an easy-to-digest overview of your offerings.

7. Highlight unique selling points (USPs)

The next product description example — highlighting unique selling points (USPs) — helps your brand stand out online. You likely have numerous competitors vying for customers in the online retail space. So, you need to use product descriptions to share what makes your items unique and why people should purchase from you.

Product description writing example: Primally Pure

Primally Pure is a 100% natural skincare company — and they do a great job incorporating USPs of toxin-free products in their descriptions.

How you can do it: Write product descriptions that demonstrate your USPs and share what makes your items better than others on the market.

8. Help shoppers envision using your products

If you want to sell more products, help shoppers envision themselves using your items. You might have the best products in the market, but if people can’t see themselves using your offerings, they won’t buy. Use your product descriptions to paint a picture for shoppers and show them what it’s like to own your products.

Product description writing example: Indy Brand Clothing

The next product description example comes from Indy Brand Clothing.

A bonus — it adds a layer of social proof that encourages people to buy.

How you can do it: Encourage customers to share photos using your products — and incorporate user-generated content into your descriptions.

9. Use videos to show products in action

You can use more than text to describe your products — and creative photos and videos show your products in action.

Product description writing example: Patagonia

How you can do it: Share informative, how-to videos that show your products in action — you don’t even need fancy equipment!

Write product descriptions that sell with WebFX!

Ready to start selling more online ?

Hopefully, you picked up some tips for how to write product a description that converts. If you need help leveling up your product descriptions, check out ecommerce SEO and content marketing services — and contact us to talk with an expert. We’d love to hear from you!

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Table of Contents

• 1. Present Product Features As Benefits
• 2. Anticipate Pain Points
• 3. Show off Your Brand’s Personality
• 4. Incorporate Reviews and Social Proof
• 5. Use Emotive, Sensory Words
• 6. Make Your Descriptions Scannable
• 7. Highlight Unique Selling Points (USPs)
• 8. Help Shoppers Envision Using Your Products
• 9. Use Videos to Show Products in Action
• Write Product Descriptions That Sell with WebFX!

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Essay on Marketing

List of essays on Marketing. Marketing is a comprehensive term and it includes all resources and a set of activities necessary to direct and facilitate the flow of goods and services from producer to consumer. Businessman regards marketing as a management function to plan, promote and deliver products to the clients or customers. Human efforts, finance and management constitute the primary resources in marketing.

Audience : This essay is written in easy and simple words for school, college and university students.

List of Essays on Marketing for School, College and University Students

Essay on marketing   – (1500 words).

Marketing is a comprehensive term and it includes all resources and a set of activities necessary to direct and facilitate the flow of goods and services from producer to consumer. Businessman regards marketing as a management function to plan, promote and deliver products to the clients or customers. Human efforts, finance and management constitute the primary resources in marketing.

Marketing starts with identification of customer’s wants and then satisfying those wants through products and services. The modern concept of marketing is customer-oriented and focuses on earning profit through customer satisfaction.

Prof. Drucker states that the first function of marketing is to create a customer or market. Customer is the most important person in the whole marketing process. He is the cause and purpose of all marketing activities.

According to Philip Kotler, “Marketing is a human activity directed at satisfying needs and wants through exchange process.” All marketing activities are basically for meeting the needs of customers and also raising social welfare. We have twin activities which are most significant in marketing- (a) Matching the product with demand, i.e., customer needs and desires or target market, (b) The transfer of ownership and possession at every stage in the flow of goods from the primary producer to the ultimate consumer.

According to William Stanton, “Marketing is a total system of business activities designed to plan, price, promote and distribute want-satisfying products to target markets to achieve organisational objectives.”

The American Marketing Association defines marketing as the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational objectives.

Paul Mazur defined marketing as the creation and delivery of a standard of living to society. This definition catches the real spirit of the marketing process. It has consumer- orientation. It duly honours the marketing concept which indicates a shift from product to customer-orientation, i.e., fulfillment of customer needs and desires. It emphasises the major function of marketing, viz., satisfaction of customer and social demand for material goods and services.

Example- In the case of oral care products, currently only 47 per cent of the rural population use toothpaste, 23 per cent use tooth powder and the rest neither. Targeting non-users in rural areas and developing awareness about oral hygiene and converting them to tooth powder/toothpaste users.

Features of Marketing :

1. Marketing activities are aimed at satisfying the needs and desires of consumers and therefore, finding out consumer needs and wants is the starting point for all marketing activities. It starts with consumers and ends with consumers by satisfying their needs.

2. Marketing is a continuous activity and the goods are manufactured and distributed to the consumers as per demand.

3. Marketing deals with exchange of goods and services with money as the medium of exchange.

4. Marketing concept has undergone changes over a period of time i.e., the recent one is the societal marketing concept which focuses on three factors- customer demand satisfaction, public interest and profitability.

5. Marketing creates time, place and possession utilities. The consumer is able to obtain the right product at the right time at the right place as and when he requires.

6. Production and marketing are related and production takes place based on the needs and expectations of the consumer.

7. Marketing facilities large-scale production, employment opportunities and social welfare.

8. Marketing is an integral part of business. The survival and growth of business depend upon the effectiveness of marketing operations in an organisation.

9. Marketing is an integrated process and is based on strategies and plans.

10. The long-term objective of marketing is profit maximization through customer satisfaction.

Modern marketing begins with the customer, not with production, sales, technological landmarks and it ends with the customer satisfaction and social well-being. Under market- driven economy, buyer or customer is the king. The marketer should find out what the consumers wish to purchase and how much they are willing to pay. The company should then decide whether the desired product can be produced and sold at the price consumers will pay and at a profit to the company.

Marketing covers the following:

1. Seeking- The purpose of seeking is to discover the customer and customer needs. The marketing opportunity is revealed through an analysis of the environment.

2. Matching- Marketing is a matching process. Customer demand has to be matched with organisational resources and environmental limitations, such as competition, government regulations, general economic conditions, and so on.

3. Programming- The marketing programme, called the marketing mix, covering Product, Price, Promotion and Place (distribution) strategies (4 P’s) will be formulated and implemented to accomplish the twin objectives of customer satisfaction and profitability.

Marketing is an ongoing process of- (1) Discovering and translating consumer needs and desires into products and services (through planning and producing the planned products), (2) Creating demand for these products and services (through promotion and pricing), (3) Serving the consumer demand (through planned physical distribution) with the help of marketing channels, and then, in turn, (4) Expanding the market even in the face of keen competition.

The modern marketer is called upon to set the marketing objectives, develop the marketing plan, organise the marketing function, implement the marketing plan or programme (marketing mix) and control the marketing programme to assure the accomplishment of the set of marketing objectives. The marketing programme covers product planning or merchandising, price, promotion and physical distribution.

Four basic approaches are commonly used to describe the marketing system:

1. Commodity Approach :

Under the commodity approach, we study the flow of certain commodity and its journey from the original producer right up to the final customer. In such a study, we can locate the centre of production, people engaged in buying and selling of the product, mode of transportation, problem of selling and advertising the product, problems of financing it, problems arising out of its storage and so on.

Through such an approach, we can find out the differences in marketing products, services and problems. Thus, we can have a fuller picture of the field of marketing. Marketing of agricultural products such as cotton, wheat, jute represent the commodity approach.

2. Functional Approach :

Under the functional approach, we concentrate our attention on the specialised service or functions or activities performed by marketers. The study of marketing functions (like, buying, selling, storage, risk-bearing, transport, financing, and providing information) represents the functional approach to the marketing system.

3. Institutional Approach :

Under the institutional approach, our main interest centres round the marketing institutions or agencies such as wholesalers, retailers, transport undertakings, banks and insurance companies etc., who participate in discharging their marketing responsibilities during the movement of distribution of goods. We try to find out how these various business institutions and agencies work together to form a total marketing system.

4. The Systems Approach :

A system is a set of interacting or interdependent components or groups co-ordinated to form a unified whole and organised marketing activities to accomplish a set of objectives.

In the model of systems approach we have:

1. Objective,

3. Processor,

4. Outputs, and

5. Feedback.

The system is designed to achieve objectives or goals according to a plan, which provides for the processing of inputs and the discharge of appropriate outputs. The objectives direct the process control monitors the process. Information feedback gives information from internal and external sources and it is the basis for future change in the system.

An open system has its own environment giving the inputs and accepting the outputs. Inputs are processed, producing outputs to meet the objective. The twin objectives of marketing system are customer satisfaction and profitability.

The systems approach provides the best model for marketing activity. It places emphasis on the inputs to the system and the outputs produced. It helps in the determination of marketing and corporate goals, and the development of marketing programmes and the total marketing mix.

Adoption of a systems approach provides a good basis for the logical and orderly analysis of marketing activities. It stresses marketing linkages inside and outside the firm. It emphasises changing environment. It provides a framework for control. It depends on using the right information. Markets can be understood only through study of information.

The output establishes the purpose or objective of a system. The objective is profits through serving the demand of consumers and community. The output of marketing system is sales of goods. Correct inputs must be available to the processor i.e., marketing administration in order to produce desirable outputs.

These inputs in the marketing system are the elements of marketing-mix and the target market determined through marketing research. The marketing system must operate as per plans and policies and within control which may be internal or external. Of course, feedback must be available for introducing corrections in the future plans and marketing operations.

The flow of information required to check performance is called feedback. Feedback ensures the accomplishment of objectives through continuous marketing managerial process of planning-action-control. Marketing environment can be broken down into a number of layers. The inner layers become the subsystems of the outer layer. Output from one layer becomes the input for the next.

Marketing plan is a system and its parts or components are subsystems. There are four components or subsystems of marketing plan or marketing-mix- (1) The product management system to manage products from introduction to market withdrawal, (2) Channel and physical distribution system to manage distribution channels and the flow of goods to the market, (3) Promotion system to coordinate all means of promotion to stimulate demand, and (4) Price system designing prices for a line of products sold to customers under different selling conditions.

Marketing management revolves around these four areas of marketing- mix or plan. Marketing information system provides data for decision-making in all marketing areas or problems. It is also a part of marketing system.

The systems model (plan-inputs-processing-outputs-feedback-environment) placed emphasis on the inputs of resources as per plan, discharge of outputs and marketing information flow. It enables the determination of goals as well as development of strategies and programmes to achieve those goals through feedback control mechanism.

Essay on Marketing – 2 (1000 Words)

Traditionally, marketing has been defined as follows – “Marketing includes all activities that direct the flow of goods and services from the producers to the consumers or users.” This definition is product oriented as it does not consider the needs of the customers. It emphasises sale of goods produced by the producer and thus considers marketing in a narrow sense of ‘telling and selling’.

Modern definitions of marketing are based on the philosophy that “Satisfaction of customers is the basic purpose of business”. According to Philip Kotler, “Marketing is a social process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others”.

This implies matching of products with what is demanded in the market. This requires determining the requirements of potential customers and then developing and supplying those products which meet their requirements. If a business produces the products to satisfy the requirements of customers, it is more likely to be successful in achieving its objectives.

Definitions of Marketing :

Traditional Definition:

Marketing is a social process by which products are matched with markets and through which the consumer is able to use or enjoy the product. It makes goods and services more useful to the society by creating place, time and possession utilities. —Cundiff and Still

Modern Definition:

Marketing is a social process by which individual and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others. —Philip Kotler

The present day marketing is consumer oriented rather than product oriented. Product planning, pricing, promotion and distribution are so organised that the needs of the customers are satisfied fully. In the words of Stanton, “Marketing is a total system of interacting business activities designed to plan, price, promote and distribute wants satisfying products and services to present and potential customers”. Consumer oriented marketing ensures that all business activities revolve around the customer.

The essential elements of marketing are as follows:

(i) Two Parties:

There are at least two parties – buyer or customer on the one hand, and seller or marketer on the other.

(ii) Exchange of Value:

Exchange of goods and services between the seller and the buyer takes place for a valuable consideration. In other words, the parties have something viewed valuable by each other. That means the buyer can offer value and the seller can offer goods which are perceived to be of value by the buyer.

(iii) Freedom:

The parties are free to interact and accept or reject the offer of each other.

(iv) Satisfaction:

Marketing satisfies the needs of both the parties. The consumers gets want satisfying goods and services and the seller gets value in terms of money for his offering.

Marketing as a Process of Managing Profitable Customer Relationships :

According to Philip Kotler, “Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.”

Globalisation and rise of information technology (IT) have increased the expectations of customers. They don’t buy products or brands, but ‘a set of benefits or values’. They expect marketers to be concerned with their total satisfaction. The marketers association with the customer continues even after the sale of the product and this is what is called relationship marketing.

Thus, marketing is a process consisting of the following interrelated elements:

(i) Understand the market and customer needs and wants.

(ii) Design the product to satisfy customer needs and wants.

(iii) Develop an integrated marketing program that delivers superior value to the customer.

(iv) Build profitable relationships with, customers and offer ‘customer delight’.

(v) Capture value from customers to create profits and customer equity.

Marketing enables people to satisfy their needs and wants through exchange relationships. Exchange is the act of obtaining a desired product (or benefit) from a company by offering money value in return. Marketing also involves actions taken by the marketer to build and maintain desirable exchange relationships with target customers.

Marketers try to build strong relationships by consistently delivering superior customer value. Besides attracting new customers, they also try to retain the existing customers. These are the two basic goals of modern marketing.

The key to building lasting customer relationships is to create (i) superior customer value, and (ii) satisfaction. A customer buys from the firm that offers the highest customer perceived value, i.e., the customer’s evaluation of the difference between all the benefits and all the costs of a market offering (i.e., product) relative to those of other firms. Many people prefer to buy sweets from Haldiram’s store as compared to other sweet shops because of higher perceived value.

Market and Related Concepts :

Traditionally, the term ‘market’ refers to the place where buyers and sellers meet for exchange of goods and services. It is in this sense that we refer to Chandni Chowk Market, Kamla Nagar Market, Janpath Market and other markets in Delhi. The buyers go to the market to purchase the goods of their choice.

These days the term ‘market’ has acquired a broader meaning. If refers to actual and potential buyers of a product or service, whom the sellers can approach through various means of communication and transport.

For example, a marketer can approach prospective buyers through web advertising and a customer can purchase goods from his residence or office by placing order on telephone or cell phone or using internet and e-mail. Physical meeting between the parties to buy and sell is not necessary.

Customer Needs, Wants and Demands :

Marketing begins with human needs and wants. Needs are feelings of deprivation of some satisfaction. People need food, air, water, clothing and shelter to survive. These needs exist in the very nature of human biology and marketers do not create them. Wants are desires for satisfaction of needs. Human needs are few but wants are many. Human wants are continually shaped and reshaped by families, social institutions and cultural factors.

Demands are wants for specific products and services. They are backed by the ability and willingness to buy. Wants which are supported by purchasing power become demands. Marketers influence wants and demands by making products attractive, affordable and easily available to the target group of consumers. For example, a marketer might promote the idea that a certain brand of pen (e.g., Parker) would satisfy the need for social status.

Essay on Marketing –  3 (700 Words)

Marketing starts with identifying customer needs and wants and ends with satisfying them through a coordinated set of activities that also allows a firm to achieve its own goals. Awareness of this fact gave rise to the marketing concept. The marketing concept embraces all the activities of a firm. It aims at matching the company’s offering with customer needs, to achieve the desired level of customer satisfaction and generate profits for the company.

The marketing concept is based on the beliefs that are as follows:

(a) The company’s planning and operations are customer-oriented,

(b) The goals of the company should be profitable sales volume and not just volume, and

(c) All marketing activities should be coordinated effectively.

Cundiff and Still, “marketing is the business process by which products are matched with market and through which transfer of ownership affected”.

Tousley, Clark and Clark “marketing consist of those efforts which affect transfer of ownership of goods and services and provide for the physical distribution”.

H.L. Hansen Marketing is the process of discovering and translating consumer needs and wants into products and service specification, creating demand for these products and services and then turns expanding this demand.

According to American Marketing Association, ‘marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goals.

Marketing is defined as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”.

The term developed from the original meaning which referred literally to going to a market to buy or sell goods or services. Seen from a systems point of view, sales process engineering views marketing as “a set of processes that are interconnected and interdependent with other functions, whose methods can be improved using a variety of relatively new approaches.”

The Chartered Institute of Marketing defines marketing as “the management process responsible for identifying, anticipating and satisfying customer requirements profitably”.

Marketing is used to create the customer, to keep the customer and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

Managerial Definition :

As a managerial definition, marketing is described as “the art of selling products”. But Peter Drucker, a leading management theorist, says that “the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy”.

Traditional and Modern Concepts of Marketing :

Old or traditional concept of marketing was limited up to profit generation by high volume of sales and production of products at a large scale, how to distribute products from producers to customers in an efficient manner. Marketing activities were concentrated toward selling; later on with rise of competition marketers gave more emphasis to promotion activities to increase their market share and profitability. Salesmanship and product promotion were the main part of marketing policy of a business firm.

Modern concept has shifted from selling to customer satisfaction, modern marketing concept aim at how to understand a customer in a better way it is possible by exploring customer’s want and expectations and marketing behaviour. Products manufactured by firms should match with the demand and expectation of customers.

Under marketing concept a customer should be ready to buy the products on his own initiative, how to create demand in market by customer satisfaction is the main essence of modern concept. Now customer is well aware about his rights, quality and customer services, therefore marketing should be customer oriented, a strong communication network is needed to build high brand equity and goodwill in market.

Marketing is an important functional area of business which generates revenues through the sale of satisfying goods and services to the customers. It involves taking decisions in the areas of product, price, place and promotion keeping in view the requirements of the customers business. In this article, the nature of marketing management, implications of modern marketing concept, objectives of marketing, distinction between marketing and selling and also the tools of marketing mix.

Short Essay on Marketing – 4 (400 Words)

Marketing is the process by which companies determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development.

It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

Marketing is used to identify the customer, to keep the customer and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. The evolution of marketing was caused due to mature markets and overcapacities in the last 2-3 centuries. Companies then shifted the focus from production to the customer in order to stay profitable.

The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.

Marketing is defined by the American Marketing Association AMA as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”

The Chartered Institute of Marketing defines marketing as “the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” A different concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value.

In this context, marketing is defined as “the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage.”

Marketing practice tended to be seen as a creative industry in the past, which included advertising, distribution and selling. However, because the academic study of marketing makes extensive use of social sciences, psychology, sociology, mathematics, economics, anthropology and neuroscience, the profession is now widely recognized as a science, allowing numerous universities to offer Master-of-Science (MSc) programmes.

The overall process starts with marketing research and goes through market segmentation, business planning and execution, ending with pre and post-sales promotional activities. It is also related to many of the creative arts. The marketing literature is also adept at re-inventing itself and its vocabulary according to the times and the culture.

Essay on Marketing – 5 (1000 Words)

Marketing as a term is widely used in the management of a business and in our day- to-day life. In the era of customer and competition driven business world, marketing is not just the domain for the marketing department in a company. It’s a philosophy; it’s a business orientation now. It is imbibed in the corporate vision and mission of the successful companies.

All the successful companies in India like Tata, Reliance, Mahindra, Bharti Airtel, Maruti, Birla, Bajaj, Dabur, Patanjali etc., are thriving by understanding and delivering value to the Indian consumers to serve them in a better way than their competitors.

“Marketing is a process of exchange through which needs and wants are satisfied”, so can be the definition of markets given by Philip Kotler is paraphrased.

A better explanation can be given-

“Market is not merely spatial in nature; the buyers and sellers constitute the market, even though not face-to-face. Marketing involves not merely selling but reaching out customers to sell things they want. Thus product- mix, price-mix, distribution-mix and promotion-mix are the four corner stones of marketing. Even consumption patterns and the dictates of consumers are a part of the marketing strategy and then we have to include the policies relating to taxes and subsidies and/or regulations as they affect the product, price, distribution and promotion mixes.”

Another famous name in marketing Peter Drucker emphasized that marketing issues permeate all areas of the enterprise.

There are four most important aspects of marketing and they are:

1. Choosing the product mix;

2. Choosing the price mix;

3. Planning the distributional network; and

4. Market promotion.

These are also known as four Ps [product, price, place (distribution) and promotion], “Consumer is the king” (meaning consumer dictates and is always right) has given way to “consumer is the queen”, (meaning thereby that decision are taken by the lady of the house), are the sayings that give guidepost for developing marketing. There are firms, institutions, persons and governments involved in marketing. There are historical stages of marketing.

Rudimentary barter system is exchange of “commodities with commodities” (we should not call “goods” with “goods” from the “secondary/manufacturing” sector.) By the time there is trading in “goods”, barter system gets superseded. Rural marketing in India still has a good-sized component of the barter economy. Vegetables, edible oil, pulses, milk-products and food grains are taken and given in barter in rural areas.

Transitional stage and concurrent stage between barter and monetised exchange exists (as in India even in the 21st Century). As specialisation and industrial activities develop, barter gives way to exchange with money. However, rural areas continue to have barter transactions. (Some kabaadies in India who recycle the wastes of the households as non-functional fans, old newspapers to n number of things sometimes offer double trade e.g., give anything @ Rs. 15/- and make the payment adjusted against the junk that will be taken by them.

All types of modern markets with their spatial ramifications develop in the developing economy as in India.

Fully modern marketing system will have to satisfy two conditions:

1. There is no barter there, and

2. Even plastic money (credit/debit cards) is used.

Micro-management of marketing is not concerned with increasing the purchasing power.

Macro-management of marketing should aim at various things like:

1. Laying down rules and regulations for all types of marketing;

2. Selling “social marketing” of such ideas as of family planning and/or or advising persons how to save themselves from aids; or

3. Improving purchasing power or entitlements of all groups.

Marketing of primary, secondary and tertiary sector (services) follow one basic principle—how to optimise profits, if not maximise.

What is Marketing? – Definitions of Marketing:

The Chartered Institute of Marketing defines marketing as ‘The management process responsible for identifying, anticipating and satisfying customer requirements profitably’

Oxford Dictionaries define Marketing ‘as the process of performing market research, selling products and /or services to customers and promoting them via advertising to further enhance sales.’

Kotler Philip, Gary Armstrong, Veronica Wong, and John Saunders are of the view that ‘Marketing as an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.’ It generates the strategy that underlies sales techniques, business communication, and business developments.

Paliwoda, Stanley J and John K. Ryans believe in a different concept called the value-based marketing, which states the role of marketing to contribute to increasing shareholder value.

American Marketing Association’s (AMA) has defined as following:

‘Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.’

Above definition was applicable till Sept., 2007. Now with the ever changing business environment, the definition of Marketing also underwent a lot of change from Oct., 2007.

Now, AMA defines Marketing as:

‘Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.’

Marketing is not just an organizational function, but it is an activity and a set of institutions are involved. Now the customers, organisation and its stakeholders have also been rephrased as Customers, Clients, Partners and Society at large. Now Customer Relationship Management (CRM) is as important as Partner Relationship Management (PRM). Societal welfare is as important as the company’s welfare.

Panasonic’s ‘Eco Ideas’, Nokia’s ‘Take Back Campaign’, HP’s ‘Power to Change’ and Toyota’s initiative for Hybrid Green Vehicles are few examples of corporate initiative for the society at large.

Philip Kotler, a well-known authority on marketing has termed marketing as a ‘societal process by which individual and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.’ Marketing can also be said as the process of ‘satisfying needs and wants through an exchange process’.

In a simpler way, Kotler has defined Marketing in terms of CCDVTP, which means creating, communicating and delivering value to the target market at a profit.

Thus, Marketing is all about identifying and meeting human and social needs and that too in a profitable way. Ultimately, the objective of any business activity is to make profits.

On the whole, we can say that CCCCC STP PPPP encompasses all the aspects in marketing. Sounds confusing, let me clarify, Marketing is all about 5Cs, STP and 4Ps. 5Cs stands for Customers, Company, Competitors, Collaborators and Context. While STP stands for Segmentation, Targeting and Positioning; whereas 4Ps represent the Marketing Mix i.e. Product, Price, Place and Promotion.

Essay on Business Marketing – 6 (2500 Words)

Marketing plays a critical role in modern business practice, where maximizing shareholder value is an increasingly important goal. The essence of business marketing focuses on how firms attract, retain, grow customers — critical firm assets — by enhancing relationships with them.

Success in delivering cus­tomer value leads directly to improving shareholder value and long-run firm prosperity. In Essentials of Managing Marketing, we explore both the strategic aspects of marketing and the tactical implementation decisions marketers make every day. But first, we investigate two quite different but related meanings of marketing.

Marketing as a Philosophy embraces the view that marketing is the guiding force/orientation for the entire corporation. Firms with a marketing philosophy operate with an external orientation. Such firms focus attention, resources outside the corporation — to acquire, retain, grow customers — but take careful account of a range of external environmental forces.

By contrast, internally oriented firms focus on internal issues — products, services, processes. Essentials of Business Marketing embraces the marketing-as-philosophy perspective. The author believes, and has seen in his own career, how powerful and effective a business can be when the entire organization is attuned to the external world. Such agile firms not only sense critical environmental factors, but also adapt to address them.

Marketers must possess the tools/decision-making skills to get the marketing job done. Effective marketers focus on six marketing imperatives. Marketing Imperatives describe the specifics of the marketing job. For executives with marketing/ product-management titles, these imperatives are the must-dos of marketing.

We identify two groups:

1. Strategic Marketing:

Imperative 1-Determine, recommend which markets to address.

Imperative 2- Identify, target market segments.

Imperative 3- Set strategic direction, positioning.

2. Implementing Market Strategy:

Imperative 1- Design the market offer.

Imperative 2- Secure support from other functions.

Imperative 3- Monitor and control execution/ performance.

To broaden this framework, four marketing princi­ples form the basis for marketing decision-making.

These principles act as guidelines for executing the six imperatives:

Principle 1- Selectivity, Concentration

Principle 2- Customer Value

Principle 3- Differential Advantage

Principle 4- Integration

What is Marketing?

Marketing is often confused with advertising and sales. Even many executives are unclear. It seems so intuitive; can’t anybody be a marketer? Marketing is the firm’s fundamental activity. When marketing delivers value to satisfy customer needs, the firm attracts, retains, grows customers, in the face of competitors trying to do the same thing. If costs are in line, profits follow. Profits help the firm survive as an independent entity, secure resources to grow, enhance shareholder value.

Business Marketing’s role includes identifying opportunities; figuring out customer needs; understanding com­petition; developing appealing products/services; communicating/distributing value to potential customers. When the firm does a good job of completing these tasks, shareholder value increases. Example- Flipkart — successful e-commerce firm — co-founder Sachin Bansal emphasizes that focus on customer satisfaction and owning the entire customer experience has benefited his firm.

The critical weapon in the battle for customers is straightforward in concept, but may be complex/ difficult in execution. The firm must deliver customers greater value than competitors deliver. Customers reward such firms by purchasing their products/services, today and tomorrow. This exchange is the basis of all markets.

The late Peter Drucker, preeminent management theorist, is generally credited with developing the customer orientation and modern marketing per­spective. Drucker stated, “If we want to know what a business is, we have to start with its purpose. There is only one valid definition of any business purpose — to create a customer. It is the customer who determines what a business is.

For it is the customer, and he alone, who through being willing to pay for a good or service, converts economic resources into wealth, things into goods…. Because it is [the purpose of a business] to create a customer, [the] business enterprise has two — and only these two — basic functions- marketing and innovation.”‘

Business Marketing and Shareholder Value :

The central focus on shareholder value is deeply rooted in many capitalist countries. The shareholder- value perspective defines managements job as maximizing returns for firm owners — shareholders.

In addition to shareholders, the firm has many other stakeholders — management, labor, public at large. In some capitalist countries, these stakeholders are more favored than shareholders. Indeed, in these countries regulations generally favor managers, and protect them from unwelcome mergers/acquisi­tions. Regardless, in recent years, developing global capital markets have favored the shareholder-value perspective.

Customers are the sole source of firm revenues; all firm activities are costs of attracting, retaining, growing customers. Unfortunately, managers sometimes forget this fundamental truth. Customers provide revenues/cash flow when they believe firm products/services offer better value than competitive alternatives.

Marketing as a Philosophy- External, Internal Orientations :

The firm enhances shareholder value by attracting, retaining, growing customers. At a philosophical level, each employee has some responsibility; marketing is everybody’s business.

To quote Drucker again, “Marketing is so basic that it cannot be considered a separate function within the business … it is, first, a central dimension of the entire business. It is the whole business … seen from the customers point of view. Concern and responsibility for marketing must, therefore, permeate all areas of the enterprise.”

David Haines, former brand czar at Vodafone, echoed Drucker- “Marketing is too important to be left to the marketers. It’s the obligation of every single individual in the company, whether you’re a phone operator, the CEO, or anyone else in the company.” To put it more crassly- If marketing is unsuccessful, nobody gets a paycheck!

Marketing as a philosophy concerns the firms entire orientation; such firms operate with an external orientation. The externally oriented firm looks outward to the environment; it knows that customers are central to its future. Other firms focusing on internal business drivers have one of several internal orientations-, delivering customer value takes a back seat.

i. External Orientation:

The externally oriented firm knows its current products/services/processes are the reasons for past/ present success. This firm also knows that, as the external environment evolves, its products/services/ processes must also change. The externally oriented does not fear change. This firm goes beyond a customer focus; it works hard to understand competitors markets, other environmental forces. This firm invests in new capabilities/competencies to exploit opportunities for attracting, retaining, growing customers. P&G spends over $400 million annually seeking customer/market insight.

In difficult economic times, when profits are under pressure, many firms cut spending/investment; but the externally oriented firm increases investments — human capital, marketing budgets, mergers, acquisi­tions. Example- In recent recessions, Amazon, Cisco, Coca-Cola, Intel, Tata Consultancy Services invested heavily; they swept past more internally oriented competitors.

ii. Internal Orientations :

Internally oriented firms place internal business considerations ahead of customer focus.

The orientations are:

1. Operations Orientation:

It overemphasizes improving efficiency, reducing costs. There is nothing inherently wrong with such actions; by contrast, cost reduction should not be a priority when the firm offers new products/services, enters new markets, or otherwise should invest to attract, retain, grow customers.

2. Sales Orientation:

It focuses on short-term sales revenues. The firm is less concerned with profits. Characteristic actions to secure sales- Prices set too low, unsustainable discounts, loose credit terms, excessive product variations. The firm spends little effort on marketing research, planning; targets customers indiscriminately.

3. Finance Orientation:

It focuses too heavily on short-term profits. When a firm manages by the numbers, it tends to avoid expenditures for long- term payoff. The finance-oriented firm mortgages its future by indiscriminately cutting back — adver­tising, capital investment, R&D, talent.

4. Technology Orientation:

It focuses on R&D, but pays insufficient attention to customer value. First- class products are critical for attracting, retaining, growing customers, but for this firm technology is more important than customers.

The Six Marketing Imperatives :

The job of putting the firms marketing philosophy into practice normally falls to marketing profes­sionals. These people engage in many activities; they must make decisions on how to allocate their time/other resources.

The critical question- Are we doing the right things to attract, retain, grow customers? Put another way- Are we implementing the six marketing imperatives — the firm’s must-dos. Imperatives 1, 2, 3 focus on strategic marketing; imperatives 4, 5, 6 zero in on implementing market strategy.

Imperative 1- Determine, Recommend Which Markets to Address :

The firm must answer critical questions about its business, market portfolios:

i. In which new businesses/markets shall we invest — people, time, dollars?

ii. From which businesses/markets shall we withdraw?

iii. In which current businesses/markets shall we continue to invest?

iv. How much investment shall we make in these various businesses/markets?

Marketing plays two key advisory roles. First, identify opportunities. Marketing is the only function with explicit responsibility to focus attention externally on the market, customers, competitors — outside the firm. Marketing personnel should research the environment to identify potential opportunities, then bring these to top management for go/no-go decisions.

Second, advise on proposed strategic actions. Many parts of the firm develop strategic initiatives. Marketing has the responsibility to insert itself into key decisions — collecting, analyzing relevant data — bearing on market entry/exit. Marketing should fully explore the ramifications of potential firm actions, or disaster may ensue.

Imperative 2- Identify, Target Market Segments :

Marketing must identify market segments — groups of customers with similar needs that value similar benefits with similar priority orders. Once the firm has identified market segments, it must decide which to target for effort. Effective segmentation and targeting are critical for delivering customer value and driving sales, profits.

Imperative 3- Set Strategic Direction, Positioning :

The firm decides how to compete in those market segments it has targeted. For each target segment, marketing must formulate performance objectives, then decide on firm positioning in each segment — target customers, target competitors, value propo­sition, reasons to believe. Together with Marketing Imperative 2, positioning completes the STP trium­virate — segmentation, targeting, positioning.

Typically, individual market segments are at different developmental stages; hence they require different approaches. Finally, decisions about strategic direc­tion must include questions about branding. The firm must continually assess strategic direction and make necessary course corrections.

Imperative 4- Design the Market Offer :

The market offer is the total benefit package the firm provides customers. Tools for designing offers are the most well-known part of marketing.

The marketing-mix elements — aka 4Ps — comprise the basic building blocks:

i. Product:

Generally, the product embodies major benefits the firm offers to satisfy customer needs — these benefits provide customer value. Product comprises both physical products and intangible services.

ii. Promotion:

Embraces various ways the firm communicates with customers — informing, per­suading customers to purchase (or recommend) its products. Core promotional elements include mass communications — advertising, publicity & public relations; digital marketing; personal communica­tions — sales force.

iii. Distribution:

Focuses on how, where customers secure the product (aka place).

The firm establishes its feasible price by the equivalent amount of value it offers customers via product, promotion, distribution.

Imperative 5- Secure Support from Other Functions :

Functional areas must work together to ensure the firm designs and executes the right market offer.

Business marketing requires two very different types of support:

i. Support for design — relates to technical, opera­tional, economic feasibility. This support requires keeping the firm focused on satisfying customer needs and pushing specific functions to encourage evolving their capabilities.

ii. Support for implementation — assumes the firm has agreed upon/fixed the design. Marketers must possess the leadership/interpersonal skills to secure cooperation across multiple functions — internal marketing, getting buy-in.

Imperative 6- Monitor and Control Execution/Performance :

Is the firm achieving desired results? If results are not on track, what changes should the firm make?

Marketing is a key stakeholder in securing answers to three questions; it should act appropriately based on the answers:

i. Are various functions/departments implementing the market offer?

ii. Is market/financial performance reaching planned objectives?

iii. Based on current environmental realities, are objectives, strategies, implementation plans on track? Should the firm make changes?

Four marketing principles serve as guidelines for exe­cuting the six imperatives:

Principle 1- Selectivity, Concentration :

Providing advice on market selection — Imperative 1 — and deciding which market segments to target — Imperative 2 — are among marketing’s primary responsibilities.

Underlying these imperatives is the-

i. Selectivity- Carefully choose targets for firm efforts.

ii. Concentration- Concentrate resources against those targets.

This principle is about choosing the firm’s battles. It is dangerous to dissipate limited resources over too many alternatives by trying to do too much. No orga­nization, no matter how large or how successful, has infinite resources.

Some experts re-label this principle Concentration and Concession. Not only must the firm concentrate resources, it should affirmatively decide where it does not want to compete.

Principle 2- Customer Value :

Market success depends on providing value to cus­tomers. This principle is central to the marketing job. Customer insight should drive design, implemen­tation of market offers, product/investment deci­sions, and performance evaluations. The firm develops, produces, delivers products/services, but customers perceive value only in the benefits these products/ services provide.

Customer value is a moving target. As the environ­ment evolves, customers accumulate experience; the needs and benefits they seek evolve also. World-class companies continuously invest in marketing research to probe deeply into customer needs, priorities, expectations, and experiences. They feed these results into the product development process to generate greater value for customers.

Firms that take their eye off the customer ball can get into serious trouble. Shoppers Stop, Aditya Birla Retail, Reliance Retail have closed many unprofitable stores in recent years.

Principle 3- Differential Advantage :

Closely related to the Principle of Customer Value; differential advantage lies at the heart of every successful market strategy —the firm should offer customers something they value, but cannot get elsewhere. Differential advantage is similar to competitive advantage, unique selling proposition, having an edge.

To implement this principle, the firm must develop well-designed market offers, based on the marketing-mix elements, and secure buy-in from other functions.

i. Competition:

Offering customer value is not enough. To avoid competitive parity, the firm must offer greater value than competitors. The firm must create/recreate differential advantage to beat com­petitors.

ii. Superiority:

Some differential advantages are better than others. Differential advantage based on propri­etary intellectual property, unique product design, product availability may be more sustainable than differential advantage based on communications.

A differential advantage based on an organizational process like parts delivery, qualified technicians may be even more sustainable.

iii. Erosion:

Competition will eventually erode even the apparently most sustainable differential advantage. Maintaining differential advantage is marketing’s most fundamental challenge; the search for differential advantage must be continuous.

iv. Cannibalization:

To stay ahead of competition, the firm must be willing to cannibalize its own offers. Many firms will not do so — in part because of strong political constituencies for the status quo; in part because profit margins may be lower. Such unwillingness to act runs the risk of missing oppor­tunities, passing market initiative to a competitor.

v. Differential Advantage and Difference:

A differ­ential advantage is not the same as a difference. Developing a different market offer may not be difficult. Differential advantage must create benefits/values customers recognize, and are willing to pay for.

Principle 4- Integration :

This principle has two dimensions:

i. Customer:

The firm must carefully integrate and coordinate all design and execution elements it offers customers. Poor advertising can ruin an excellent product; delayed promotional materials can doom product launch; improper pricing can cause havoc with sales forecasts.

The firm must carefully integrate/coordinate all internal activities. Different functions/depart­ments must work together; they must avoid squab­bles over priorities, turf wars, ambiguous messages by senior managers. Firms with an external orientation are more likely to achieve integration; employees, departments, businesses share a common purpose — serving cus­tomers. Sharing responsibility for designing, imple­menting market offers drives agreement on priorities and close/cooperative working relationships.

Essay on Marketing Topics – 7 (1900 Words)

Marketing refers to a social process by which individuals and groups obtain what they need and want through creating, offering and exchanging products and services of value freely with others. It is the sum-total of all the activities that facilitate flow of goods and services from producers to the ultimate consumers.

In simple words, marketing involves study and management of exchange relationships. It is used as a tool by business to create the customer, to keep the customer and to satisfy the customer.

Marketing is concerned with all the activities of a company which are associated with buying and selling of a good or a service. It involves activities that aim at making people aware of the company’s goods or services and making sure that these are available to be bought and availed respectively.

Marketers are involved in marketing various types of entities like goods, services, experiences, events, persons, places, properties, organisations, information and ideas. Marketing is an ongoing communication exchange with customers in a way that educates, informs and builds a relationship over time.

It is the process by which a firm profitably translates customers’ needs into revenue. It also involves building a brand and convincing people that a particular brand is the best.

It aims at satisfying the needs and wants of the customers and thereby retaining them for the longest possible period of time. Marketing attracts consumers’ scarce resources, attention and disposable income to derive profitable revenues.

It is the process of getting a product or service from a company to its end-customers from product development through to the final sale and post purchase support.

Essay Topic # 1. Definition of Marketing:

Some Important Definitions of Marketing:

Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. —American Marketing Association (AMA)

Marketing is the science and art of exploring, creating and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. If defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best, and it designs and promotes the appropriate products and services. —Philip Kotler

Marketing is a management activity that identifies, anticipates and satisfies customer requirements efficiently and profitably. —Mark Gwilliam

Marketing is the management process for identifying, anticipating and satisfying customer requirements profitably. —Chartered Institute of Marketing

Marketing is the business process by which products are matched with the markets and through which transfers of ownership are affected. —F.E.Clark

Marketing is that phase of business activity through which the human wants are satisfied by the exchange of goods and services. — J.F.Pyle

Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. — Philip Kotler

Essay Topic # 2. Nature of Marketing:

(i) Customer Focused – All marketing activities should be customer oriented. They should start with identifying the customer’s needs, followed by developing products, pricing it, promoting it and distributing it as per the customer’s requirements.

(ii) Integrated Process – Being an integrated process, marketing involves coordination of many activities with other business functions like production, personnel, financing, research and development.

(iii) Multi-Disciplinary – Marketing is multi-disciplinary as it has evolved out of commerce and has got its strength from law, psychology, sociology, mathematics and statistics. It is an art as well as a science.

(iv) Interaction with External Environment – It operates within the framework of external environment which comprises of economic, natural, social, legal, political environment etc.

(v) Mutually Beneficial Exchange – It means buyers get want-satisfying goods and sellers get value in exchange of their goods leading to mutual benefit to both the parties.

(vi) Based on System Approach – It is based on system approach as it requires intelligent coordination of four ‘P’s of marketing mix. These are Product, Price, Place and Promotion.

Essay Topic # 3. Importance of Marketing:

(i) It is the beating heart of a business organization – Being the revenue producing department, it is a very important function of management.

(ii) It facilitates creation of place, time and possession utility – As creating these utilities help a marketer to achieve success in the business.

(iii) It helps in improving the standard of living of the people – This is done by offering wide variety of goods and services to the people.

(iv) It generates employment – A large number of people are employed by marketers to carry out various functions of marketing.

(v) It leads to economic development of the nation – It mobilises untapped resources and facilitates full utilisation of production capacity and other assets and hence leads to economic development of the nation.

Essay Topic # 4. Modern Marketing:

The Present Day Marketing is Customer Driven:

Business must find out what the consumers want and then produce goods according to the needs of the consumers. What is offered for sale should be determined by the buyer rather than by the seller. Instead of trying to market (sell) what is easiest for us to make, we must find out much more about what the consumer is willing to buy.

Under consumer-oriented marketing it is highly essential to know what the consumers really want. This is possible only when information is collected from the consumers.

Marketing research and Marketing Information Systems are now-a-days full-fledged functions of marketing. All organisations accept that the marketing activities must start far ahead of production. The company must appreciate and understand the consumers’ strategic position as a determinant of the firm’s survival and growth.

This philosophy of marketing means that the entire marketing is designed to serve consumer needs. The marketing man is introduced at the beginning rather than at the end of the production cycle and marketing is integrated at each phase of the business.

Thus, Marketing, through its studies and research will determine for the engineer, designer and the manufacturing manager, what the consumer wants in a given product, what price he is willing to pay and where and when it will be wanted. The launch of the ‘Nano’, a small car for the common man of India at an affordable price is a glaring example of this statement, i.e., the present day marketing is customer driven.

Marketing Begins before Production and Continues after Sale:

Marketing is an organizational function which includes a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stake­holders.

By stating definition of marketing itself, it becomes clear that marketing also deals with the creation of a product. It is done by means of proactive marketing, i.e., focussing on customers’ latent needs. For this the process of Marketing Research is applied. These days the companies’ strategies have shifted from “make-and-sell” philosophy to “sense-and-respond” philosophy.

In order to identify the needs of customers various surveys are conducted, pilot studies are done. The respondents are not just prospective customers but also front line executives, since they know a lot about the needs of customers.

At each stage of new product development, marketing has a key role to play.

Marketing after sales – Making a new customer is costlier than retaining an old one. Therefore, it is necessary to keep the customers not only satisfied, but rather delighted. This can be done through customer relationship management, where marketers can offer to provide after sales-services, warranties, guarantees, product resale offers, discounts on next purchase etc.

Marketing Creates Value for Customers and Builds Profitable Customer Relationships and Captures Value from Customers in Return:

“Marketing creates value for customers and builds profitable customer relationships and captures value from customers in return.” This statement very aptly describes the essence of marketing in modern scenario. It is a two way process of creating value for customers by offering high quality products in exchange of a price which acts as value from the customers.

It is a mutual beneficial activity where focus is on building and maintaining long-term profitable customer relationships. Today’s successful companies are strongly customer focussed and heavily committed to marketing. They share passion for understanding and satisfying customers’ wants and make a sincere effort to provide solutions by coming out with innovative products.

For example – Procter & Gamble, one of the world’s largest and most respected marketing company creates value for customers by offering innovative products like Tide, Pantene, Gillette, etc. which are widely accepted by customers and in return Procter & Gamble gets rewarded with brand loyal customers.

Similarly, Philips is another company which is always striving to come out with novel solutions for existing problems and produces high quality innovative products like ‘Air Fryer’, ‘Electric Shaver’, etc. They too are rewarded by customers in return with strong loyalty and quick purchases of their products.

Modern Marketing is an Integrated Process of Identification, Assessment and Satisfaction of Human Wants:

The modern marketing concept enunciates that business is essentially a ‘need-satisfying process’ and that any business must be managed keeping the consumer and his needs as the main focus.

All goals of business including profit must be realised through consumer orientation, integrated management action and generation of consumer satisfaction. Matching products with the market implies determining the requirements of potential customers and designing products that satisfy these requirements.

Thus, modern marketing is the integrated process of identification, assessment and satisfaction of human wants. The focus is on the customer and his wants. It is the process of discovering and translating consumer wants into products and services and then in turn making it possible for more and more people to enjoy more and more of these products and services.

Concern for customers’ needs and wants increases the acceptability of the product. When a firm produces the product which meets the requirements of the customers, the need for promotion is reduced. It ensures continuous patronage of customers.

Unification of business activities leads to economy and efficiency in marketing operations. The systems approach to marketing facilitates a rational analysis of all marketing problems along with their effective solutions.

It helps the management to direct organisational effort towards the long-term and wider goals like stability and growth of the firm. Sustained interaction with customers becomes possible.

It is the management orientation that holds that the key task of the organisation is to determine the needs, wants and values of a target market and to adapt the organisation to deliver the desired satisfaction more effectively and efficiently than its competitors.

Thus, modern marketing is an integrated process of identification, assessment and satisfaction of human wants.

Modern Marketing Concept is Applicable to All Business Organisations Irrespective of their Size, Nature or Functionality:

The adoption and use of modern marketing concepts have various benefits for any company irrespective of their size, nature or functionality.

Some of the benefits are listed below:

(i) Concern for customers’ needs and wants rather than itself product increases the acceptability of the product.

(ii) Marketing concept requires an integrated and coordinated approach to marketing. Hence all the business activities are focussed towards a single organisational goal.

(iii) Marketing concept is a system approach to marketing. It facilitates a rational analysis of all marketing problems along with their effective solution.

(iv) A business firm pursuing Marketing concept can respond effectively to the changes occurring in the marketing environment.

(v) Marketing concept has a strategic and philosophical value. It helps the management to direct organisational efforts towards long term and wider goals.

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Privacy Overview

Commentary on "Pricing Prototypical Products"

Marketing Science, Forthcoming

16 Pages Posted:

Shichang Li

School of Management, University of Science and Technology of China

Jingchuan Pu

University of Florida - Warrington College of Business Administration

University of Science and Technology of China - School of Management

Date Written: June 20, 2024

The article by Amaldoss and He [Amaldoss W, He C (2013) Pricing prototypical products. Marketing Science. 32(5): 733-752.] investigates how prototypicality changes the competitive behavior of firms in a horizontally differentiated market. Their study extends the spokes model by considering the asymmetry between the prototypical and nonprototypical products in terms of the probabilities of being included in consumers' consideration sets. Their analyses show that when consumer valuations are low (moderately high), the prototypical product charges a lower (higher) price than a nonprototypical product. However, the asymmetric probabilities are overlooked when characterizing the demand for the prototypical product. With the correct demand function, we show that whether the prototypical product is priced lower depends on consumer valuations as well as the level of prototypicality, and the prototypical product can charge a lower price even when consumer valuations are moderately high. One should use extra caution when characterizing demands in the spokes model with asymmetric probabilities.

Suggested Citation: Suggested Citation

School of Management, University of Science and Technology of China ( email )

Hefei, Anhui China

University of Florida - Warrington College of Business Administration ( email )

Gainesville, FL 32611 United States

Quan Zheng (Contact Author)

University of science and technology of china - school of management ( email ), do you have a job opening that you would like to promote on ssrn, paper statistics, related ejournals, managerial marketing ejournal.

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Marketing Plan for a New Product Analytical Essay

• To find inspiration for your paper and overcome writer’s block
• As a source of information (ensure proper referencing)
• As a template for you assignment

Current Market Situation

Market description, swot analysis.

Baba Buddy is a toy for little children aged three years and below. The toy is an innovative idea that was developed by Arnold Amacha who has worked in the cartoon industry for 20 years. The combined efforts of Arnold and his wife Mary Amacha have brought forth the entrepreneurial activities witnessed in Baba Buddy Industries. The toy is new in the market but it faces stiff competition from brands such as Telletubies, Barbie Toys, Brown Babies and Bunny Rabbits.

The latest statistics indicate that there are 2 million babies born every year in America and the age group below three years includes about 5 million kids. Baba Buddy is a toy that is too interesting for kids to share and so each child requires a personal product. From the design and practical use of the product, it will be understood why the developers perceive that each child have his or her own Baba Buddy toy.

The market is however proliferated by toys meant for young children. Telletubies holds majority of the customers with 35% market share while Barbie Toys holds 20%, Brown Babies 15% and Bunny Rabbits 12%. The remaining 22% is shared between dozens of small scale toy manufacturers who target low income consumers. It will be of great importance that Baba Buddy positions itself well in the market so as to appeal to its customer segments using the appropriate marketing strategies.

The market of Baba Buddy consists of the expectant mothers and parents of children aged three years and below. This market is very large because there are many people who become expectant every year whether through planned or unplanned pregnancies.

The aim of Baby Buddy is to provide young children with safe and educative toys which provide both entertainment and knowledge. The customer segments identified by Baba Buddy marketers include the following: high class customers who have a monthly income above 3000 USD, middle income earners earning between 1000-3000 USD and low income earners earning anything below 1000 USD.

The targeted customer segment will include children between 12 and 24 years. Children below one year are not targeted because they require colorful and noisy toys which they can grab but those between 1 and 2 years can play with toys with informative details such as numbers and the alphabet.

Product review

The Baba Buddy toy will be designed in the shape of a sheep. It will have a flurry covering which will be white in color. The sheep will be the size of a pillow and it will have letters of the alphabet spelt on one side and the numbers 0-10 written boldly on the other.

The Baba Buddy toy will have a tail which if twisted triggers a musical alarm which sings “Baba black sheep have you any wool, yes sir yes sir three black wool…” The neck of the sheep will also have a button which, if pressed, initiates the recitation of the alphabet and numbers 1 to 10. This musical theme will be intended on getting children to recite these syllables so as to assist them with pronunciation. This toy will be ideal for children aged between 12 and 24 months as they have the ability to comprehend their surroundings.

Competitor review

The toy market has been proliferated by competing products because children have always been there since the beginning of time. The toy industry began centuries ago since children have always had the need to play with items that are around them. In the US toy market, there are four major players who aggressively compete for market share.

Telletubies which are the market leaders have the advantage of a strong brand because of their famous cartoon series which was aired all over the world. The Telletubies Show captured children from all backgrounds and races and this was translated into sales through development of the Telletubies toys. Telletubies toys are highly priced because of their brand name and they are mostly bought by high class consumers.

Barbie Toys, on the other hand, are slightly cheaper than Telletubies but are more available in the market as the strategy adopted by the producing company is the market penetration strategy. Brown Babies are commonly bought by parents who have rough kids. They are made from tough materials which last long and are harder to tear. The Bunny Rabbit toys have the shape of a bunny which resembles the Bugs Bunny, a character from Walt Disney. The shape of the famous bunny is what provides competitive advantage to this competitor.

Channels and Logistics Review

Baba Buddy will be distributed in retail stores such as Babies Us R and Toys Us R. These retailers are ideal because they are already established and have a ready market for toys. Many parents are loyal customers of these stores and so Baba Buddy toys will get a ready audience if marketed in these stores.

Stores like Walmart will also be convenient for the distribution purposes because they stock a wide range of toys. This will give Baba Buddy toys competitive advantage since they are unique in design and will be attractively packaged. When displayed together with other toys, Baba Buddy toys will stand out because of their sheepish shape and pillow size. Some shopping parents may even buy it in place of a teddy bear or ordinary pillow for their children.

The SWOT Analysis is a powerful analytical tool that is useful in the assessment of the environment in which Baba Buddy operates in. It is a summary of strengths, weaknesses, opportunities and threats which exist in the internal and external business environments. These are assessed below.

Baba Buddy toys have several advantages that prove to be strong points for their success in the market. With the price of $14 or between $13 and $15 depending on location, Baba Buddy toys are set to appeal to new parents and day care guardians who commonly go for cheap items. The strategy to use a low price so as to attract the greatest number of customers within a short time will enable the company to penetrate the market easily.

The low price will also catch the attention of shoppers who will want to try out the new product which is good looking and affordable. Other than the attractive price, the design of Baba Buddy will also greatly appeal to many customers. The pillow size and the shape of a sheep will be something that parents will want their children to have. The design can also make some parents kill many birds with one stone since they will not have to buy teddy bears if they get this toy.

Baba Buddy is developed by people who have been in the cartoon business for a long time. Arnold Amacha will be of much benefit to the team of professionals who manage the production and sale of the toy. His experience in the cartoon industry gives him great knowledge on how to handle and entertain children.

It is this experience and skill that led to the innovativeness seen in the Baba Buddy toy. The marketing strategy adopted by the company will also give competitors a hard time to outdo Baba Buddy because the market is perfectly competitive. They may have to forego some portion of profits if they want to compete against the affordable prices of Baba Buddy toys.

The market for Baba Buddy toy will be a new market for the product which is also fresh. Entry into a new market is not an easy task and this will provide great challenges for the marketing team. Since the product is also new, it will require a lot of convincing before potential customers are turned into actual customers. The new product will also lack customer loyalty within the first few months since it will be unknown and untested in the market.

These factors will be disadvantageous to the marketing team who will have to come up with measures to overcome these barriers. Baba Buddy is a new brand and thus the market lacks brand awareness as far as the product is concerned. The Baba Buddy toy is also larger than the average toys in the market. Most toys are smaller in size as compared to Baba Buddy and so before customers get used to the large size, much time will have elapsed.

Opportunities

There are elements available in the toy market which Baba Buddy toys can benefit from. The toy market is getting larger since more and more parents are adopting technology and the modern ways of life. Toys were not traditionally bought by conservative parents. Conservatism is however decreasing as more parents are opening up to modern lifestyles and products. In this wave of change, Baba Buddy stands to gain from the increased openness and acceptability of toys.

As more parents become more modern, they will be more likely to buy toys and Baba Buddy can gain from this new set of customers. The global financial crisis has also made consumers weary of prices and budget conscious. They will in future not go after expensive luxury commodities such as toys. The competitors who sell at higher prices might suffer losses as customers go for cheaper toys such as Baba Buddy.

While opportunities increase the likelihood of prosperity for a product, threats are elements in the external environment which threaten the profitability of a product. Even though there are many competitors already in the toy market, this does not stop additional companies from entering the market. New products reach the store shelves everyday and children get more exposed to different types of toys. As the market continues to grow, so does the rate of proliferation of toys.

There is also increased importation of toys from China which offers cheap products. These toys will threaten the profitability of Baba Buddy since their prices will be as competitive as our product. Increased competition might force Baba Buddy to consider lowering the price further yet the set price is already very low and almost at the break-even level. Aggressive marketing will be required to overcome these set of challenges identified in the external environment.

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IvyPanda. (2018, November 6). Marketing Plan for a New Product. https://ivypanda.com/essays/marketing-plan-for-a-new-product/

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IvyPanda . 2018. "Marketing Plan for a New Product." November 6, 2018. https://ivypanda.com/essays/marketing-plan-for-a-new-product/.

1. IvyPanda . "Marketing Plan for a New Product." November 6, 2018. https://ivypanda.com/essays/marketing-plan-for-a-new-product/.

Bibliography

IvyPanda . "Marketing Plan for a New Product." November 6, 2018. https://ivypanda.com/essays/marketing-plan-for-a-new-product/.

Business Insider's most innovative CMOs of 2024

• CMOs are under increased pressure to grow their brands while reaching new audiences.
• They're experimenting with new technology like generative AI and cookieless advertising.
• Meet Business Insider's "Most Innovative CMOs" of 2024.

The role of chief marketing officers is only getting harder.

They're increasingly responsible for proving growth at their companies by boosting consumer spending, reaching new audiences like Gen Z, and using emerging technologies like generative AI and cookieless tools.

Business Insider's annual list of the "Most Innovative CMOs" spotlights CMOS rising to these challenges. This year's 34 CMOs came from nearly 80 nominations from their peers and industry experts.

This year's CMOs include executives from big brands like Disney, Chipotle, and PepsiCo; direct-to-consumer names like Bobbie; and tech companies like Workday and Kraken Digital Asset Exchange.

Here are Business Insider's 2024 "Most Innovative CMOs," listed in alphabetical order by last name.

Asad Ayaz, chief brand officer, The Walt Disney Company and president, marketing, The Walt Disney Studios, Disney+, and The Walt Disney Company

Last April, Ayaz was named as The Walt Disney Company's first-ever chief brand officer, an expansion of his role as president of marketing for Walt Disney Studios and Disney+, responsibilities he still holds. He oversees marketing strategy, creative advertising, media, research, special events, promotions, and global publicity.

Not long after Ayaz was announced into his new role, the entertainment industry was faced with multiple strikes impacting film and TV production. Ayaz helped the company navigate these challenges while also driving the global campaign to celebrate Disney's 100th anniversary, which had kicked off with a Super Bowl commercial in 2023 and the introduction of a new logo. 

Elsewhere, Ayaz pioneered new partnerships and social campaigns to bring the effort to a diverse set of audiences. Ayaz led a collaboration with TikTok, for example, to introduce a Disney100 hub experience, featuring interactive challenges and games, as well as music and sounds. The hub drove a significant increase in the popularity of Disney's songs, with some entering the Billboard Top 50 .

Ayaz is also preparing to create a host of new consumer touchpoints as part of The Walt Disney Company's $60 billion investment to expand its theme parks worldwide. And Walt Disney Studios is set to release movies like "Deadpool and Wolverine," which became the most-watched trailer of all time during this year's Super Bowl.

Francisco Bram, VP of marketing and business development, Albertsons Companies

"Customers for life" is part of Albertsons Companies' corporate mission. With that in mind, Bram last year harnessed health and wellness to try to transform customer relationships across its 22 supermarket brands, including Acme, Safeway, and Pavilions. 

Sincerely Health, the app he launched in collaboration with healthcare providers and insurance companies, positions Albertsons as a wellness partner ­― and could fuel loyalty by rewarding healthful choices. The app integrates with Albertsons' e-commerce sites, serving up personalized health and nutrition tips based on purchases and buying history.

At a time when some customers are cutting back on discretionary spending ― and online grocery outlets grab larger market shares ― the app has helped generate a 46% jump in brand awareness for Albertsons Companies stores, the company said.

Bram also broadened Albertsons' potential revenue streams by launching the company's first B2B marketing organization. Albertsons now offers customized pharmacy and grocery services to corporate clients, including vaccine clinics, pharmacy services, and grocery delivery.

Bram's approach is ringing up results. In April, Albertsons reported same-store sales increased 1% year over year, digital sales increased 22%, and loyalty members increased 16% to 39.8 million; the numbers stand out in a year when online grocery sales dipped 1.2% year over year, according to one industry report .

Chris Brandt, CMO, Chipotle

Brandt, an early adopter who embraced gaming and esports for Chipotle in 2018, saw an opening last year among the Fighting Game Community (FGC)­, a gaming subculture largely untargeted­ by non-endemic brands. Chipotle gave away free entrée cards at the largest live FGC events, and used a promo code based on fan lingo to grant in-game currency to Street Fighter 6 players. 

Both IRL and online, results were a win. At Evo Las Vegas, North America's largest FGC event, a crowd of 10,000 fans cheered ads from Chipotle, the first non-endemic brand to host one of the largest team tournaments in Street Fighter history. Through the campaign, Chipotle's brand sentiment score among US esports fans aged 18 to 44 rose from 29% to 41%, according to YouGov BrandIndex. The brand's FGC activations generated more than 1.5 billion impressions and 185 earned media placements.

Menu innovations, a key to consumer engagement, have been another platform for Brandt. 

In early 2023, Chipotle introduced the Fajita Quesadilla, a permanent menu item inspired by a viral TikTok hack; its launch nearly doubled the company's quesadilla business. Its success led Brandt to create Chipotle's own hack­­s, like a sour cream/Chipotle Tomatillo-Red Chili Sauce combination. 

The results have been promising. The company's same-store sales rose 8.4% in the fourth quarter of 2023. And foot traffic rose 7.4% in the quarter while giants like McDonald's and Starbucks saw declines, Chipotle said. 

Brandt's newest challenge : a wave of videos from TikTokers who claim Chipotle's portion sizes have been shrinking. "There have been no changes in our portion sizes, and we have reinforced proper portioning with our employees," a Chipotle executive told The New York Times in a statement.

Andrea Brimmer, CMO and public relations officer, Ally Financial

Brimmer has been instrumental in getting brand growth for Ally Financial, while pioneering new approaches to marketing and sponsorship that move the industry forward.

Since around 2022, Brimmer has been driving positive change across the investment of brands in women's sports. This year marks the two-year anniversary of Ally's 50/50 pledge, with the aim of spending equally on women's and men's sports by 2027. She continued these efforts in 2023 with a first-of-its-kind media deal with Disney and ESPN, which included spending more than 90% on women's sports. In 2024, Ally became the official banking partner of the USGA, and both US Open golf tournaments, sponsored several women-funded and women-owned media sports properties, and worked with the Sports Innovation Lab to create the largest women's sports networking group.

The Ally logo is recognized by around three-quarters of sports fans, and women's sports fans, in particular, have a 71% higher likeability rate and 82% higher preference for the Ally brand, the company said.

Elsewhere, Brimmer has led Ally's streaming strategy. This included the March launch of the "Side Hustlers" reality series, which spotlights women entrepreneurs and successful investors. The Roku Channel series exceeded viewership projections and boosted visits to Ally.com by up to 17%. Ally also ran a streaming-only Super Bowl ad this year — when a 30-second linear TV spot cost upwards of $7 million — to emphasize the brand's marketing messages around saving money.

Brimmer's marketing team is also testing generative AI to make marketing productivity gains and cost savings. Using the Ally.AI platform's large language model chat and prompt functionality, a group of its marketers was able to reduce the time required to create content by up to two to three weeks and reported average time savings of up to 34%.

Ally says that overall, its brand value, as measured by Brand Finance, jumped by 30% this year, while its trust score grew by 10%, a testament to Brimmer's efforts.

Jonnie Cahill, CMO, Heineken USA

Cahill is on a mission to "make moderation cool."

Heineken 0.0 debuted in the US in 2019 and rose to become the country's top-selling nonalcoholic beer, with sales of $77.45 million last year, according to Statista data.

Heineken 0.0 represents around 7% of the total Heineken franchise in the US and was the focus of many of the brewer's biggest marketing activations, like the Coachella music festival and major esports tournaments. Sampling was key at these events last year .

Last year, Heineken also debuted the lower-carb, lower-calorie 4% ABV Heineken Silver, to appeal to drinkers looking for a lighter alternative to traditional lagers. It launched with a campaign dubbed "All the Taste, No Bitter Endings" and was the title sponsor of the Las Vegas Grand Prix in November. As part of the Las Vegas Grand Prix activation, Heineken Silver became the first beer brand to advertise on the Las Vegas Sphere.

Overall, Heineken devotes 10% of its global media spending to messaging around drinking responsibility. 

"We can make moderation cool, and that will have a massive societal impact," Cahill told Business Insider last year.

Lisa Caputo, EVP and chief marketing, communications, and customer experience officer, Travelers Insurance

Caputo uses data and new platforms to keep the insurance company ahead of the curve. She helped launch the brand's first TikTok account that posts clips and player videos about the annual Travelers Championship PGA event. The account is currently promoting this year's upcoming event. Travelers also works with social and gaming creators to market the event to a younger audience than golf traditionally focuses on. For example, a six-hour Twitch livestream event raised about $50,000 for The Hole in the Wall Gang Camp. The livestream had 41,000 concurrent viewers, according to Travelers. Last summer, Caputo launched a campaign aimed at tackling polarization and divisiveness called "Who cares?" The campaign showed how many people care about issues like forest fires, hunger, and natural disasters. And it targeted people like public officials, CEOs, influencers, and independent insurance agents. Caputo's team is also using AI and machine learning to create content, including drafting articles, identifying audience groups, and conducting research. The team has developed tools that sales teams use to track marketing materials and monitor brand reputation on digital platforms and social media. Caputo has been in the role since 2011 and previously worked in marketing at Citi. She was also previously a Deputy Assistant to former President Clinton and Press Secretary to former First Lady Hilary Rodham Clinton during Clinton's first term in office.

Marcus Casey, CMO, BMW North America

At the center of much of BMW North America's marketing success this year has been the "data spine" Casey helped engineer. It connects customer data across platforms and has become a central source for BMW's marketing and agency teams to access insights and real-time analytics to see what's working.

BMW's 2024 Super Bowl spot, "Talkin' Like Walken," was based on the insight that its "Ultimate Driving Machine" positioning had been imitated many times, but still remained the ultimate. The ad showed stars Usher and Ashley Park imitating Christopher Walken's voice and cadence but ultimately proving there's no one else like the original.

The New York Times, Esquire, and iSpot ranked it a top Super Bowl ad of 2024. The continuing digital marketing campaign after the big game helped drive a 267% increase in people visiting the automaker's website to design their own BMW i5. Other programs included event and sponsorship integrations and the return of BMW's Ultimate Driving Experience tour, which lets consumers test-drive its EVs around a track. Sales of BMW EVs grew 27.9% in the first three months of 2024 to 82,700.

Casey and his team are also investing in AI. They use Unreal Engine and creative automation to create personalized content at scale. The team is also using AI for tasks like predictive analytics, driving efficiency across the organization.

Emma Chalwin, CMO, Workday

Chalwin joined Workday last year after working in marketing roles at Salesforce and Adobe.

She's tasked with explaining the cloud company to its enterprise clients, who use the technology to manage human resources and finances. She's used big branding campaigns on TV to reach B2B marketers.

Following Workday's Super Bowl campaign last year that starred rock stars like Ozzy Osbourne and Joan Jett, Chalwin helped launch two commercials in April with a similar theme that featured Gwen Stefani, Billy Idol, and Travis Barker. The ads premiered during The Masters, a key time for reaching business executives. Within one month of launching, the ads drove 50% more visits year-over-year to Workday's website, according to the company.

And this summer, Workday is going on a bus tour in 15 cities to promote its products and clients.

Internally, Chalwin created a program called "CMO School" that includes a learning curriculum and training for skills like upskilling to help marketers grow their careers.

Chalwin is also focused on AI. Chalwin uses AI to cut out time-consuming tasks like creating templates for campaigns and data analysis.

Kim Gebbia Chappell, chief brand officer, Bobbie

By focusing on parents, not just products, this direct-to-consumer baby formula brand has become the fastest-growing player in its category, claiming to feed more than 4.5% of babies born in the US. 

Chappell, chief brand officer since November 2023 and a four-year Bobbie veteran, has made advocacy a key brand plank, positioning Bobbie as a force on issues including federal support for new parents. The company advised legislators on drafting the 2024 Infant Formula Made in America Act, addressing issues behind 2022's infant formula shortage.

Overseen by Chappell, an early 2024 partnership with tennis star Naomi Osaka brightened the brand's halo, launching a grant for working parents while campaigning for federal paid leave. Because Osaka had been public about her decision not to breastfeed daughter Shai, her choice as spokesperson both elevated Bobbie's brand and aligned it with mothers facing similar challenges. More than 11,000 parents applied for grants.

Chappell's brand vision is getting results. With 72% revenue growth from 2022 to 2023, Bobbie has exceeded $100 million in revenue and won a $70 million investment. But Bobbie may have been too successful, too fast; in mid-May, the company paused online sales and new subscriptions until it opens a new manufacturing facility this summer.

Lee Anne Grant, chief growth officer, Babylist

Grant's job is to give soon-to-be and new parents all the information that they need.

Babylist's main offering is a registry program for managing shopping for baby products, but the site has also expanded into content such as guides for the best products and health content.

Since Grant joined in 2020, Babylist's website traffic has increased 25% and reaches about 10 million unique users per month. 

Grant's role combines the CMO job with head of sales for Babylist's media business. She helped develop a content studio called The Push, where the company's editors, designers, and social-media team work with brands like Nike and Wayfair to run campaigns targeting Babylist's audience.

One of the challenges for parents is sifting through endless amounts of advice and information. Grant has developed new ways to reach this audience through platforms like TikTok and a physical showroom in Los Angeles. The showroom features more than 35 brands, including Gap and Etsy.

Last year, Grant helped expand Babylist into health content with the acquisition and relaunch of Expectful. She also spearheaded a program that offers free breast pumps through insurance plans, and more than 80,000 breast pumps have been shipped.

Under Grant's leadership, Babylist had more than $400 million in revenue during 2023 — a 40% year-over-year increase, according to the company. 

Grant previously worked in brand and business development roles at The Assembly, Brandless, and PopSugar.

Mayur Gupta, CMO, Kraken Digital Asset Exchange

Gupta has the tough job of getting consumers to trust crypto after the sector's quick boom and bust — and subsequent resurgence — over the past couple of years.

Since joining in 2022, he has used his background as CMO of brands like Gannett and Freshly to convey that Kraken Digital Asset Exchange is not only stable but ahead of innovation in the space. 

In October, he spearheaded Kraken's first marketing campaign, which targeted people new to crypto. A commercial depicts crypto as inspirational within the financial world. The campaign appeared on LinkedIn, X, and out-of-home ads in places including London.

Gupta has also landed deals with creators like YouTuber and Twitch streamer Kitboga, crypto media company Bankless, and Williams Racing to make Kraken more of a household name. With Williams Racing, Kraken sponsors areas of F1 races called Fan Zones, where the brand aims to educate people about crypto.

Brad Hiranaga, chief brand officer, Cotopaxi

Sustainable outdoor apparel brand Cotopaxi has described 2023 as "the year of collaboration for good" at the company, in which it partnered with like-minded organizations that share its commitment to social and environmental responsibility.

It teamed up with HOKA on a sneaker and hip-pack collab. Later in the year, purchasers of the limited edition Headspace x Cotopaxi hip pack or T-shirt received a two-month Headspace membership and other exclusive mindfulness content. It also joined other brands as part of the Outdoor Industry Association to work with suppliers to reduce their emissions and advance research in this area.

Such efforts helped boost brand awareness from 28% in 2022 to 39.2% last year, the company said. The company grew 35% and surpassed $140 million in sales in 2023. What's more, the company said it kept 2.75 million fabric yards out of landfills, "which, if laid out, would stretch from Miami to Boston."

Continuing the partnership theme, Cotopaxi launched the Más Vida trade-in program earlier this year, working with Trove and Tersus Solutions, to encourage people to swap and buy used outdoor gear and apparel. It also became a sponsor of the Sundance Film Festival , providing coats to jurors and filmmakers.

Jill Kramer, chief marketing and communications officer, Accenture

Kramer has led an effort to transform Accenture's marketing and communications function. She temporarily paused the team's output to thoroughly measure the impact, reach, and engagement rates for every asset and function it was producing using the same SynOps technology Accenture uses externally with clients. 

The result was huge efficiency gains. After reducing the content on Accenture.com by 50% and the number of pages on the site by 45%, users spent 32% more time on it. Accenture decreased social posts by 33%, which led to a 55% increase in engagement. And, by implementing a universal content system in collaboration with Adobe, the company reduced manual tasks by 55%, saving $1.4 million and boosting campaign performance by more than 50%. 

Kramer and her team also worked to position Accenture as a catalyst for change with its "Reinvented with Accenture" global marketing campaign, which highlighted the company's work with clients.

This year, she's been a champion of disability inclusion , having become cochair of a new coalition designed to advance disability inclusion in the marketing and communications industry. Accenture and Disability:IN released a joint report that found companies that excel in their disability inclusion efforts generate more profit and revenue and are more productive.

Kramer has picked up various industry honors in the past year, including Adweek's B2B Innovation Lifetime Achievement Award.

Marian Lee, CMO, Netflix

Lee is the marketing force behind Netflix's shows and experiences. She's responsible for taking individual Netflix shows and plugging them into culture to get consumers' attention. She's also tasked with building Netflix's brand amid big changes to the streamer, like the clampdown on password sharing, an ad-supported tier, and growing competition from other streamers. Within the past year, Lee has spearheaded some of Netflix's biggest campaigns — many of which are offline with activations and billboards. Most recently, Lee has been touting the third season of the hit "Bridgerton" show with fan events, products from brands like International Delight and Williams-Sonoma, and sneak peeks of the show leading up to its premiere. For "Squid Game," she launched an experience in Los Angeles where fans can compete in games inspired by the show. And for Jerry Seinfeld's "Unfrosted," billboards in high-traffic areas like New York and Los Angeles oozed Pop-Tart filling with crumbs falling on cars. "Unfrosted's" ad campaign also included scratch-and-sniff magazine ads. 

The hit "Wednesday" show, a spinoff of the "Addams Family" franchise, went viral with moments including actress Jenna Ortega's TikTok dance. Season two of the series is currently filming and is sure to get a marketing push from Lee behind it. Lee joined Netflix in 2021 and was promoted to CMO in 2022, having previously worked at Spotify and Condé Nast.

Greg Lyons, CMO, PepsiCo Beverages North America

Lyons wants to grow newer drink brands like Starry and Bubly Burst while also keeping bigger brands like Pepsi and Mountain Dew leaders.

He handles marketing for PepsiCo's $28 billion portfolio of beverage brands in the US.

One of PepsiCo's newest products that Lyons has worked on is Starry, a lemon-lime soda that ran its first Super Bowl ad starring Ice Spice this year. And to tap into the sparkling water craze, he helped launch Bubly Burst — a line of products slightly sweeter than sparkling water with no added sugar. The launch of the product included a social, TV, and digital ad that played up Bubly Burst's fruit flavors.

For Mountain Dew, Lyons created a Super Bowl ad starring actor Aubrey Plaza to promote Baja Blast. Baja Blast started rolling out nationwide this year after only being available for limited periods of time or at Taco Bell restaurants. 

And for Pepsi, Lyons rolled out a new logo and packaging for the brand's 125th birthday last year, including an experiential pop-up diner in New York where people could order food like Pepsi-infused pulled pork, and chicken and waffles with Pepsi butter and maple syrup.

Since taking on the CMO role of Pepsi's beverages in North America in 2017, annual sales have grown 30%, according to PepsiCo.

Kory Marchisotto, CMO, E.l.f. Beauty and president, Keys Soulcare

Marchisotto has used standout marketing and nascent media platforms to put E.l.f. Beauty on the map in an incredibly competitive makeup field. 

E.l.f. returned to the Super Bowl this year with a star-studded cast — including "Judge Judy" Sheindlin, "Suits" star Gina Torres, and Meghan Trainor, among others — to showcase its bestselling $14 Halo Glow Liquid Filter. The ad came together in just seven weeks. Marchisotto said in an interview with Glossy earlier this year that this kind of speedy approach means E.l.f. consistently stays culturally relevant in its marketing.

E.l.f. has grown a reputation for creating buzzy products that go viral on social media. Its unlikely collaboration with the canned water brand Liquid Death this March was no exception. The pair's limited edition $34 metal-inspired "Corpse Paint" coffin-shaped makeup set sold out in 45 minutes and delivered 12 billion media impressions within two weeks of its launch.

E.l.f. has leaned into newer platforms like Roblox and TikTok to capture the attention of younger consumers. Its Roblox game E.l.f. UP! has surpassed 10 million visits and is one of the top-rated branded experiences on the platform. E.l.f. was also the first brand partner for a TikTok Shop Super Brand Day, which turbocharged its followers and sales.

Under Marchisotto's leadership, E.l.f.'s marketing budget has grown to 22% of net sales, which rose 77% last year. E.l.f. was the No. 2 brand in the color cosmetics category in the US in March, according to Nielsen, and it's the top cosmetic brand among teens, according to the Piper Sandler Spring 2024 survey.

Samantha Maltin, EVP, chief marketing & brand officer, Sesame Workshop

By leveraging social channels, live activations, cause marketing, and brand partnerships, Maltin is helping make 54-year-old Sesame Workshop, its characters, and its IP as relevant as ever.

With a Sesame-Warner Bros. Discovery streaming deal set to expire next year, Maltin has aggressively amplified Sesame's profile. With 5.6 billion global views annually, Sesame Street's YouTube channel is in the top 0.02% of all channels in its category, the company said. Sesame's TikTok videos have drawn 99 million views. On Instagram, Oscar the Grouch launched in February 2024 and already has 48,500 followers; Cookie Monster launched in November 2023 and has 153,000. Sesame's own Instagram Reels presence has seen 3,400% surge in follower growth year-over-year, a rep told Business Insider.  

In January, Maltin's team leveraged a single X post from Elmo into a social-media phenomenon. With children's mental health in mind, "Elmo is just checking in. How is everybody doing?" became X's No. 1 trending topic, reaching 218 million people. President Biden and brands like Target joined the conversation; more than 850 media outlets covered the moment.

Brand partnerships included Oscar the Grouch's appearance in a United Airlines campaign introducing lower-carbon sustainable aviation fuel, giving Sesame IP a values-aligned promotional platform. And this summer, in partnership with NBC, Sesame characters will broadcast live from the Olympic Village in Paris.

Stephanie McCarty, chief marketing and communications officer, Taylor Morrison

Through influencer marketing, partnerships, and social-impact efforts, McCarty has helped make the home-building brand Taylor Morrison top of mind among millennial and Gen-Z homebuyers.

Last year, Taylor Morrison formed a partnership with The Home Edit cofounders Clea Shearer and Joanna Tepin from the Netflix Series "Get Organized with the Home Edit." The "New Homes, New Zones" content series saw Tepin and Shearer share tips for homeowners looking to organize their new homes. Taylor Morrison homeowners also receive a book with tips specific to their property's floorplans as part of their closing gift. Taylor Morrison and The Home Edit are also set to feature in ABC's reboot of "Extreme Makeover: Home Edition," which is currently in development.

Elsewhere, Taylor Morrison has updated its website to become an all-in-one transaction tool for customers to shop for, reserve, and design their dream homes. And it's begun embracing TikTok with its "Real Talk" series to help answer questions about home ownership.

On the social-impact front, Taylor Morrison partnered with Banner MD Anderson Cancer Center's "Home Away from Home" program. It's helping build 16 new homes in Gilbert, Arizona, that will provide free lodging for patients receiving long-term treatment or recovering from surgery.

Last year, sales conversions hit an all-time high with a rate of more than 50%, while brand awareness has increased by more than 15% since 2022.

Lisa McKnight, EVP and chief brand officer, Mattel

2023 was a record-breaking year for Mattel, thanks in no small part to the "Barbie" movie, which brought in more than $1.4 billion in box office sales worldwide. Barbie and the distinctive pink brand asset became a cultural phenomenon last summer, which extended to events like the Oscars that included brand activations and a memorable Ryan Gosling performance of "I'm Just Ken."

The movie followed years of work by McKnight's team to position Barbie as the ultimate girl empowerment brand. This May, for instance, Barbie honored nine women athletes, including tennis star Venus Williams and Canadian soccer player Christine Sinclair, with dolls made in their likenesses.

Partnerships were a big theme of Mattel's marketing last year. McKnight's team helped Mattel collaborate with the NFL to launch official products like a Fisher-Price Little People Collector NFL series, American Girl NFL cheer uniforms, and a UNO deck featuring the 32 teams.

Looking ahead, McKnight will turn her marketing team toward bringing the power of Grayskull to movie theaters in 2026, when Amazon MGM Studios is set to release the "Master of the Universe."

Vineet Mehra, CMO, Chime

Mehra is working to make the financial tech company a more mainstream name. The firm offers banking services with no monthly fees. Under his leadership, Mehra requires that 80% of Chime's ads feature members to make the ads feel authentic to consumers. The brand's ads also don't use stock images or jargon about the banking industry and instead feature quick stories from users about how they use Chime's products. One ad highlights how direct deposits arrive early and a feature that lets people find nearby fee-free ATMs. The casting calls for these ads have generated more than 56,000 written and 6,000 video testimonials since Mehra joined, according to the company. Another campaign, "Paying Progress Forward," featured entertainer Wayne Brady and explored Brady's financial journey. It generated 368 million impressions and 115 million video views. Chime has also worked with former NFL player Marshawn Lynch. Mehra's team also helped develop a card game called Dollars & Sense, which asks questions about money. The game was sold at Walgreens, Amazon, and TikTok. Mehra has worked at Chime since 2022 and previously worked in marketing roles at companies like Good Eggs, Walgreens Boots Alliance, Johnson & Johnson, and Ancestry.com. Some of his previous campaigns addressed issues like genetic testing at Ancestry and reassuring people it was safe to shop during the pandemic at Walgreens Boots Alliance.

Aila Morin, CMO, Merit Beauty

Just three years since its launch, Merit Beauty's "clean beauty and minimalist makeup" has exceeded $100 million in sales. At launch, its Solo Shadow eye shadow reached a coveted No. 1 position among eye shadows at Sephora. Morin's marketing initiatives have bridged digital, retail, and direct-to-consumer to propel the brand's growth.

Morin herself voiced frustrations with eyeshadow brands in a Solo Shadow pre-launch TikTok post whose 1.5 million views helped fuel a 12,000-person product waitlist. As a retention tool on Merit Beauty's direct-to-consumer site, Morin created the Signature Bag, a free, reusable makeup bag whose limited editions ― including a collab with New York designer Proenza Schouler ― have become coveted collectibles. Merit Beauty's sales are now split evenly between DTC and retail – a notable benchmark, considering that only 17% of US adults have purchased cosmetics or makeup products online directly from a brand or manufacturer, according to Forrester. The mix is key to Merit Beauty's "high levels of profitability," a rep said.

While the beauty business often focuses on Gen-Z consumers, Morin has led Merit Beauty to embrace older fans, who tend to be more loyal and higher-spending. Half the brand's website visitors are between the ages of 25 and 45, with an equal share over 55 as under 25, positioning Merit Beauty as a cross-generational brand.

Morin's now leading Merit Beauty's global expansion. To promote its February 2023 launch in the UK, Morin relied solely on owned channels; at launch, one product sold every 30 seconds and averaged a nearly 6% conversion rate — nearly triple the 1.9% industry average for 2023.

Manu Orssaud, CMO, Duolingo

In the staid language-instruction category, Orssaud has elevated Duolingo with a cheeky brand identity that feeds off social-media notoriety and pop-culture hacking. 

Duolingo's rotund brand mascot, Duo the Owl, has soared from TikTok fame to IRL stardom under Orssaud's creative direction, inserting itself into events like the Barbie movie premiere and Taylor Swift concert tailgates ― and gaining enormous visibility across platforms. 

This year, the avian influencer also starred in Duolingo's first Super Bowl ad, overseen by Orssaud. Themed around the owl's posterior, it racked up more than 84 million impressions. Likewise, an April Fool's campaign featuring an ersatz "Duolingo on Ice" musical scored more than 80 million impressions. Across the board, Duolingo's social-media impressions grew to 3 billion in 2023, up 170% year-over-year ― and correlating with business growth, the company said.

Orssaud has also tapped unconventional partners to give Duolingo an edge. For its Japanese-language course, Duolingo aligned with Japanese streamer Crunchyroll to incorporate phrases from popular anime shows. Along with global press coverage, the partnership generated more than 40 million impressions across social platforms, Duolingo said.

While marketers grapple with AI's practical applications, Orssaud has applied the technology strategically. His team uses an AI-powered data scraper, built in-house, to identify trends from social comments. Orssaud has also encouraged Duolingo's brand group to apply ChatGPT to help predict cultural moments for the brand to leverage.

Ryan Ostrom, CMO, Jack in the Box

Under Ostrom, Jack in the Box has married pop culture with consumer research and segmentation to help challenge the fast-food status quo.

Last year, Jack in the Box partnered with rapper Snoop Dogg to launch a new "Late Night Munchie Meal." The limited edition launch was also supported by a pop-up "Dogg in tha box" restaurant in Los Angeles. It became one of the brand's most successful campaigns, delivering a 13.4% year-over-year increase in late-night sales — with the Munchie Meal making up 20.3% of the total. It's planning a follow-up this year with Ice Cube with a Chicken-Tater Melt to continue to promote the late-night eating occasion.

Continuing the brand's theme of supporting the underdog, Jack in the Box looked to support its California community impacted by the history WGA writers' strike. The brand brought on board out-of-work horror screenwriters to create "Feeding Time," a short film to promote the return of the brand's Monster Tacos. The campaign amassed more than 1 billion media impressions and helped to sell 8.5 million tacos.

New product development has been key to the marketing strategy this year. Ostrom has also spearheaded the launch of the Smashed Jack, the chain's first new burger in eight years. In just one day, the chain sold 70,000 Smashed Jacks, and in two weeks, the burger was sold out everywhere. Ostrom helped drive one of Jack in the Box's strongest-ever transaction weeks with the Mint Mobile shake, in partnership with Ryan Reynolds, which was timed with St Patrick's Day. And last year, Jack in the Box became one of the first quick-service restaurants to begin selling a Boba tea drink.

Jessica Padula, VP of marketing and head of sustainability, Nespresso USA

Padula wants to make the coffee brand relevant to audiences beyond coffee lovers. In October, she spearheaded a live sports partnership with Netflix around the "Netflix Cup," a golf tournament that featured players from Netflix's golf show "Full Swing" and the racing show "Formula 1: Drive to Survive." Nespresso's branding and products were integrated into the tournament, which increased awareness by 35% and increased messaging association by 10%, according to Nespresso. She also helped develop a campaign aimed at gamers with Twitch streamers. Nespresso worked with influencers to show how a small coffee machine fits into Twitch's growing lifestyle content. One video from the campaign generated more than 3.3 million impressions and was watched until the end by 88% of viewers. Targeting Gen Z is particularly important to Padula. To promote iced coffee, her team designed a series of mini café events in places like an elevator at One World Trade Center in New York and Santa Monica's Pacific Wheel that equipped a small coffee machine to give out coffee and create content. She also runs Nespresso's sustainability efforts, reflecting how younger audiences like Gen Z value social issues. Padula oversaw the expansion of Nespresso's recycling program from New York City to Jersey City, New Jersey. In recent months, participation in the program has increased by 2%, according to Nespresso. Padula has worked at Nespresso for eight years and was elevated to the role of VP of marketing and head of sustainability last year. She was previously director of brand and communications and social media marketing manager, and has also worked in marketing roles at Swarovski and Famous Brands.

Raja Rajamannar, chief marketing and communications officer, Mastercard

"We need to be Leonardo Da Vinci marketers … embracing the art and the science," Rajamannar exhorted in an October op-ed for Business Insider. Rajamannar himself has exemplified that approach, amplifying Mastercard's far-flung creative activations with advanced AI and other technology.

With the support of small businesses as a major brand objective, Rajamannar partnered with the social-impact tech company Create Labs to launch Mastercard Small Business AI, an online mentorship tool aimed at minority-owned businesses. Within Mastercard, Rajamannar oversaw the creation of Mastercard Digital Engine, which merges millions of data and brand content points into marcomms content­ ― and generates its own media buying. Campaigns run on the platform have outperformed benchmarks by up to 90% on CPM [cost per thousand impressions] and seven times on engagement, Mastercard said.

Rajamannar also foresaw the post-COVID craving for experiences among consumers, dedicating 70% of Mastercard's recent marketing budgets to experiential activations. During the 2024 Grammys, multiplatinum-selling artist SZA debuted a new song, "Saturn," during a Mastercard commercial. The Grammys initiative also integrated Mastercard's Priceless Planet Coalition tree-restoration initiative, a SZA-related sweepstakes, and a Fortnite activation dubbed Restore the Forest Speedrun. The integrated campaign generated 440 million media impressions, Mastercard said.

A proponent of purpose-driven marketing, Rajamannar also led Where to Settle, an AI-powered platform that offered Ukrainian refugees guidance on work opportunities and home listings across Poland. The platform tailored recommendations based on data points like job experience.

Andy Rebhun, chief experience officer, Cava

Rebhun is turning Instagram and TikTok posts into content that elevates the fast-casual chain.

He is the former CMO of El Pollo Loco, who joined Cava in 2023 — shortly before the restaurant chain went public on the New York Stock Exchange. Over the past year, he has spearheaded Cava's social-media presence to capitalize on memes, humor, and ingredient-focused videos. He's specifically focused on highlighting user-generated content, including a contest in April that awarded three customers $5,000 in credit for sharing the ingredients of their bowls on TikTok. The winners also had their bowl featured on Cava's digital and app menu as a limited-time product.

Rebhun has also improved Cava's digital-ordering platform with features like "click to claim" emails for customers to receive loyalty points and a feature that allows people to visualize building their food when placing an order.

Cava plans to relaunch its loyalty program this year. The program allows customers to collect points that can be redeemed for products. As third-party cookies disappear, the loyalty program will also give Cava more first-party data used for marketing. 

Rebhun is also in charge of Cava's innovation and works with the company's culinary team to create new ingredients for its Mediterranean products. In one example, Cava tested grilled steak in the Dallas and Boston markets before rolling it out nationally this summer. Cava generated $717 million in revenue in 2023, up 60% year-over-year, and opened 72 net-new restaurants last year.

Natalie Sunderland, chief marketing and communications officer, BNY

Sunderland has transformed marcomms for BNY  — a financial-services giant that recently marked its 240th anniversary — in just three years. Internally, she consolidated disparate teams into a central department, enabling more cohesive marketing strategies across divisions. Externally, Sunderland is breaking boundaries. She aligned BNY with community-level initiatives, making it first among the world's 29 G-SIBs (Globally Systemic Important Banks) to designate minority-, veteran-, and woman-owned firms as bookrunners for bank-note offerings, roles typically taken on by large global financial institutions.

Sunderland helped BNY partner with New York bank MoCaFi to underwrite a $500 million debt offering with minority-owned firms. The firm also tapped BNY's Vaia platform to partner with MoCaFi on broadening payment options for unbanked people. To address gender issues in financial awareness, Sunderland forged an alliance with Poker Power, a women-led organization that uses poker to teach women confidence, decision-making skills, and risk assessment. Sunderland also helped launch SPARK Shares, which lets clients donate investment proceeds to nonprofits.

Along with reputational benefits, Sunderland's work has reaped results. Brand equity has jumped eight points within 18 months, BNY said.

Dara Treseder, CMO, Autodesk

Since joining Autodesk in 2022, Treseder has been instrumental in driving brand awareness for the design industry software company, boosting new business, and increasing customer satisfaction scores. Her efforts have helped Autodesk exceed its marketing-contributed pipeline targets by 41% and increase campaign conversion rates by 30%, the company said.

In 2023, Treseder led five attention-grabbing brand activations that reached 178 million people, improved brand reach by 4%, and boosted web traffic referrals from social media by 44%. Those included a campaign during the Oscars, a takeover of the Sphere in Las Vegas in partnership with Marvel, and turning every ad on The New York Times homepage into error messages that led to its State of Design and Make report. 

Treseder has also been shepherding the launch of Autodesk's generative AI 3D-modeling technology. That's included Autodesk's marketing department launching its own internal generative AI tool that has reduced video content development time to minutes from weeks and from thousands of dollars to just a few. 

Treseder has been particularly successful in driving growth for Autodesk's education business, with users increasing by 20 million since she joined the company. Autodesk provides students and educators with its software for free as part of an effort to expand careers and the diversity of the talent pool in professions like architecture, engineering, and video-game design. The company also recently donated $5 million to Howard University as part of an effort to increase diversity in industries like mechanical engineering, where just 3% of engineers in the US are Black. 

Treseder continues to champion public health, women's issues, and diversity outside her work at Autodesk as the chair of the Public Health Institute and her position on the board of financial services firm Robinhood. She also serves on the board of the Autodesk Foundation and, since joining, has helped it invest in eight organizations and startups that tackle problems ranging from labor shortages in South Africa to the decarbonization of building materials.

Massimiliano Tirocchi, cofounder and CMO, Trafilea

In eight years, 31-year-old Tirocchi has built a billion-dollar brand group with more than 10 million customers worldwide from Montevideo, Uruguay. The rare founder who doubles as CMO, Tirocchi has made AI and data cornerstones of Trafilea's growth plan, harnessing analytics to fuel both media buying and creative.

To maximize a $70 million annual ad budget for Trafilea's e-commerce brands, including intimates store Shapermint, skincare brand The Spa Dr., and adaptogenic beauty line Revel Beauty, Tirocchi built his own AI platforms. One, dubbed Antares, automates ad budget allocation and optimization of over 500 campaigns and 10,000 ads annually. Altair, a second, generates ads tailored to countries, local slang, and channels. Trafilea claims the platforms have slashed creative process times by 80% and delivered 10 times the output.

Tirocchi's data-driven approach to marketing has helped propel intimates brand Shapermint to over $800 million in revenue and 10 million customers since its 2018 launch, making it a serious contender against legacy brands in a fiercely competitive category. Three of its products are No. 1 in their respective categories; Macy's and Walmart stores now carry the brand.

Tirocchi expects more marketing milestones for Trafilea brands this year. On tap: AI-generated TV spots and out-of-home ads, with Antares optimizing their budget and targeting. 

Kyle Watson, CMO, Celsius Holdings

Under Watson's leadership, Celsius, an energy drink brand, has grown from its fitness roots to become a broader lifestyle brand.

Music has become a cornerstone of this strategy. This year, the company expanded its Celsius Essential Vibes Tour to become the presenting sponsor of the Breakway multi-stop music festival. The activation includes on-site workouts, sampling, meet-and-greets, and branded giveaways. The beverage brand also held a "Cosmic Desert party" at Coachella to launch its new Space Vibe drink flavors, welcoming celebrities like Megan Fox, Barry Keoghan, and Halle Berry.

Celsius is still very much embedded in the fitness and sports category. Last year, under Watson's marketing leadership, Celsius became the official sponsor of Major League Soccer in the US and the Inter Miami CF team. She also expanded the brand's multi-year partnership with the Scuderia-Ferrari Formula 1 team to help support Celsius's international launches in new markets like Canada, the UK, and France.

Celsius achieved record sales last year, doubling revenue and surpassing $1 billion for the first time. Watson's marketing and key moves in new product development — such as introducing new flavors in the fizz-free range, and launching the larger-volume Celsius Essentials line for performance athletes — helped it grow to become the No. 3 energy drink in the US, with an 11.5% market share, according to Circana.

Ben Webley, CMO, Scopely

Webley helps drive awareness and play for mobile games like "Star Trek Fleet Command" and "Monopoly Go!" He's a video-gaming marketer who previously worked at Meta, Zynga, and Electronic Arts before joining Scopely in 2021. Webley launched a marketing campaign for last year's hit game "Monopoly Go!" that generated $2 billion in revenue 10 months after launching — a rare feat for a mobile game. He studied initial player activity to see what parts of the game resonated the most with people, depending on their location and demographic. These insights were then used to create hyperlocal campaigns targeted by the language and cultures of individual countries. This approach helped Webley develop an audience that is highly loyal and engaged with games. "Monopoly Go!" has more than 150 million downloads, and eight million daily players. He has also worked on campaigns for Scopely's "Star Trek Fleet Command" and "Stumble Guys" through big acquisition platforms like Meta and emerging platforms like TikTok and Discord. For "Stumble Guys," Webley spearheaded a partnership that incorporated the social-media star MrBeast through challenges, stunts, and characters within the game. The campaign reached more than 380 million views on social media, and the game has more than 50 million monthly players. 100 million people play Scopely's games every month, according to the company.

Sherry Weiss, CMO, Dow Jones and The Wall Street Journal

Weiss is responsible for all the media organization's marketing that spans The Wall Street Journal, MarketWatch, and Barron's. She's tasked with promoting the media group to advertisers and clients, as well as consumers. Last year, she hired three new agencies — Mother, Mediahub, and TBWA Worldwide — to shake up its advertising. In one example, a campaign called "Missing Articles" featured a blank front page of The Wall Street Journal to remind the public about reporter Evan Gershkovich, who has been detained by Russia since 2023. Her marketing efforts have also helped increase news subscribers from 2.43 million in 2019 to 5.7 million as of the fiscal third quarter. She also oversees marketing for the professional services arm, which includes Dow Jones Risk & Compliance, Dow Jones Energy, and Factiva. She most recently rolled out a multimillion-dollar brand campaign promoting The Wall Street Journal's strategy under editor-in-chief Emma Tucker. The campaign aims to broaden the publisher's business readership. Weiss joined in 2022 and previously worked in marketing at Citi.

William White, CMO and SVP, Walmart US

White's job is to make the largest retailer in the US more digital. He led a campaign last year called "Welcome to your Walmart" that used celebrities like Becky G, Patrick Mahomes, and Barbie to help people find and buy specific types of products, such as beauty, sporting, and home items. White also developed a presence for Walmart on Roblox called Walmart Discovered, where players can save virtual items and play games. Since launching in September, Walmart Discovered has more than 20 million visitors, according to Walmart. During last year's holiday shopping, White created a series called "Add to Heart" based on the growingly popular holiday romcoms. The 23-part series ran across TikTok, YouTube, and Roku and allowed people to buy 230 products. White also spearheaded a Black Friday campaign inspired by the original "Mean Girls" movie that promoted holiday deals.

Andrea Zaretsky, CMO, Morgan Stanley Wealth Management and E*Trade

Banks have adopted AI for tasks including compliance and credit decisions. Zaretsky embraced it further, leveraging a partnership with OpenAI "to deliver relevant content and insights into the hands of financial advisors in seconds," according to Morgan Stanley. Zaretsky has also encouraged experimentation with OpenAI in marcomms, fueling content creation, curation, and amplification, the firm said.

Internally, Zaretsky has harnessed metaverse and hologram technology. At Morgan Stanley's annual sales meeting, she launched a metaverse art gallery themed around helping sales associates work with clients to visualize retirement dreams. And at the firm's annual BtoB conference, Zaretsky oversaw a program allowing attendees to meet financial advisors via hologram.

Along with social platforms like TikTok, Zaretsky has used traditional media and live activations to elevate E*Trade's brand at a challenging time for investors. She extended the lifespan of E*Trade's "Babies" Super Bowl commercial with a post-game campaign dubbed "Money Monday," which rewarded consumers for investing with Morgan Stanley. Events, including financial-education sessions, saw "record attendance," Morgan Stanley said; new accounts saw double-digit growth. 

Zaretsky's results have gone beyond the bottom line, though. When Morgan Stanley acquired E*Trade in 2020, skepticism about the relationship "were in double digits," a Morgan Stanley rep told Business Insider. "They now sit at a de minimus amount."

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Research: Smaller, More Precise Discounts Could Increase Your Sales

• Dinesh Gauri,
• Abhijit Guha,
• Abhijit Biswas,
• Subhash Jha

Why bigger discounts don’t necessarily attract more customers.

Retailers might think that bigger discounts attract more customers. But new research suggests that’s not always true. Sometimes, a smaller discount that looks more precise — say 6.8% as compared to 7% — can make people think the deal won’t last long, and they’ll buy more. In a series of nine experimental studies involving around 2,000 individuals considering online or retail purchases of a variety of products, the authors found precise discount depths — the difference between the original and sale price — can increase purchase intentions by up to 21%.

Discounts are an important promotional tactic retailers use to drive sales. So much so that discounts were a major factor for three out of four U.S. online shoppers in 2023 , luring consumers away from shopping at other retailers, getting them to increase their basket size, and convincing them to make purchases they otherwise wouldn’t. Discounts have a particularly strong impact on food purchases, where 90% of consumers reported stocking up on groceries when they were on sale .

• DG Dinesh Gauri is a professor and Walmart chair in the department of marketing at the Sam M. Walton College of Business at the University of Arkansas. He is also the executive director of retail information at the Walton College. His research and teaching interests include retailing, pricing, marketing analytics, retail media, e-commerce and social media marketing. He advises for various companies in these areas and is a recognized leader in marketing.
• AG Abhijit Guha is an associate professor in the department of marketing at the Darla Moore School of Business at the University of South Carolina. His research and teaching interests include retailing, pricing, and artificial intelligence.
• AB Abhijit Biswas is the Kmart endowed chair and professor of marketing, chair of the department of marketing, and distinguished faculty fellow at the Mike Ilitch School of Business, Wayne State University. His research and teaching interests include retailing, pricing and advertising. He has published over a hundred articles, majority of which are in academic journals including the Journal of Marketing , Journal of Marketing Research , etc.
• SJ Subhash Jha is an associate professor of marketing at the Fogelman College of Business & Economics at the University of Memphis. His research and teaching interests include retailing, pricing, online reviews and role of haptic cues.

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FDA Authorizes Marketing of Four Menthol-Flavored E-Cigarette Products After Extensive Scientific Review

FDA News Release

Authorization Includes Restrictions to Mitigate Youth Risk

Following an extensive scientific review, the U.S. Food and Drug Administration today authorized the marketing of four e-cigarette products in the United States through the premarket tobacco product application (PMTA) pathway. The FDA issued marketing granted orders to NJOY LLC for four menthol-flavored e-cigarette products – NJOY ACE Pod Menthol 2.4%, NJOY ACE Pod Menthol 5%, NJOY DAILY Menthol 4.5%, and NJOY DAILY EXTRA Menthol 6%. The two authorized ACE products are sealed, pre-filled, non-refillable pods that are used with the previously authorized ACE device , and the two authorized DAILY products are disposable e-cigarettes with a prefilled, non-refillable e-liquid reservoir. 

Today’s authorizations mark the first non-tobacco flavored e-cigarette products to be authorized by the FDA. Importantly, each application is reviewed on a case-by-case basis and today’s actions are specific to these four products only – the authorizations do not apply to any other menthol-flavored e-cigarette products. To legally market a new tobacco product in the U.S., a company must receive a written marketing order from the FDA. While this action permits these specific tobacco products to be legally marketed in the U.S., it does not mean these tobacco products are safe nor are they “FDA approved.” All tobacco products are harmful and potentially addictive. Those who do not use tobacco products shouldn’t start.

“It is the responsibility of the applicant to provide the necessary evidence to obtain marketing authorization, and the FDA has made clear what’s needed to successfully achieve that outcome,” said Brian King, Ph.D., M.P.H., director of the FDA’s Center for Tobacco Products. “This action is further reinforcement that authorization of an e-cigarette product is possible when sufficient scientific evidence has been submitted to the agency to justify it.” 

The FDA evaluates PMTAs based on a public health standard that considers, among other things, the risks and benefits of the product to the population as a whole. After reviewing the company’s applications, the FDA determined there was sufficient evidence to demonstrate that permitting marketing of the products would be appropriate for the protection of the public health, which is the standard legally required by the 2009 Family Smoking Prevention and Tobacco Control Act. Specifically, evidence submitted by the applicant showed that these menthol-flavored products provided a benefit for adults who smoke cigarettes relative to that of the applicant’s previously authorized tobacco-flavored products—in terms of complete switching—that is sufficient to outweigh the risks of the product, including youth appeal. 

“We are a data driven agency and will continue to follow the science to inform our review of premarket tobacco applications,” said Matthew Farrelly, Ph.D., director of the Office of Science in the FDA’s Center for Tobacco Products. “Based upon our rigorous scientific review, in this instance, the strength of evidence of benefits to adult smokers from completely switching to a less harmful product was sufficient to outweigh the risks to youth."

The FDA remains concerned about the risk of youth use of all e-cigarettes – particularly flavored products that are more appealing to youth. Like previously authorized products, the FDA has placed stringent marketing restrictions on the new products in an effort to prevent youth access and exposure. The FDA will closely monitor how these products are marketed and will act as appropriate if the company fails to comply with any applicable statutory or regulatory requirements. The agency may suspend or withdraw authorization if the agency determines that continued marketing is no longer appropriate for the protection of the public health, including if there is a notable increase in use of the products among youth or former smokers, or a decrease in the number of current smokers who completely switch to the products. 

Today’s actions are among many the FDA has taken to ensure all new tobacco products that are marketed in the U.S. undergo science-based review and have received marketing authorizations by the agency. The FDA has received applications for nearly 27 million deemed products and has made determinations on more than 26 million of these applications. To date, the FDA has authorized 27 tobacco- and menthol-flavored e-cigarette products and devices, including the four authorized today. The agency maintains a printable one-page flyer of all authorized e-cigarette products ; these are the only e-cigarette products that currently may be lawfully marketed and sold in the U.S. and those manufacturing, importing, selling, or distributing e-cigarettes without the required premarket authorization risk enforcement. Those seeking a list of tobacco products—including e-cigarettes—that may be legally marketed in the United States, can visit the FDA’s new Searchable Tobacco Products Database . 

Related Information

• NJOY ACE: Order Letter (PDF) and Decision Summary (PDF)
• NJOY DAILY: Order Letter (PDF) and Decision Summary (PDF)
• Premarket Tobacco Product Applications
• Quitting Smoking and Other Tobacco Public Health Resources

The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, radiation-emitting electronic products, and for regulating tobacco products.

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