Contemporary Issues in Marketing

Assignment I

Gonzalo de Wit Arizón

18144161

Words: 1404

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Declaration

I hereby certify that this material, which I now submit for assessment as a continuous
assessment project in MN356 Contemporary Issues in Marketing, is entirely my own
work and has not been submitted in whole or in part for assessment for any academic
purpose other than in fulfillment for that stated above.

Signed: Gonzalo de Wit Arizón Date: 05/11/2018

(Gonzalo de Wit arizón)

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Introduction

Marketing in overall is a big concept, which can be defined by many options. One says that it is a
process by which companies create value for customers and build strong customer relationships to
capture value from customers in return. The image which has been chosen represents the actual
marketing world; it is representing the branding as the need for creativity which is essential for
taking the lead against your competitors. Nowadays, to scream the loudest is what companies are
looking for, and the way is clear; through Internet. Also, this essay is a deep description of how
important actually marketing is, highlighting the new trends starting from the cartoon. We´ll split it
by 3 sections: Internet and social media, Innovation and Visual Marketing and Positioning.

Development

Internet and social media

By an abstract way, the different colors and how disperses are they in the picture, could show
how the business environment is always changing, which makes you to stay always alert.
Technological advances, globalization, more demanding and informed consumers and a more
competitive environment, also strongly modify the commercial and marketing strategies of
companies and organizations. All these factors cause a total change in the way the products or
services are sold: to be as close as posible to the customer is the key to success. Internet is today, the
most powerful communication channel that exists and in the face of these changes, companies can
not be impassive. It is imperative, therefore, that small and medium-sized companies, that still do
not use it, venture into online Marketing to reach more and more customers every day. The social
networks are powerful tools and marketing them represents a much lower cost compared to other
digital and traditional media. In addition to being more economical, the segmentation it offers is
specific and accurate, which allows us to reach the target market more quickly, making the brand
more relevant and buying intention greater. Social media marketing is a key to the growth of your

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brand today. There are many companies that do not have a defined budget for traditional advertising;
however, they can implement a digital advertising strategy to expand your business to other markets.

It is because digital advertising allows companies to better segment their message, to obtain
quantifiable results and measure the progress of their campaigns and strategy; At the same time, we
can create databases that allow us to have valuable information about its users and, in this way,
make better decisions.

Innovation and Visual Marketing

The light bulb is a good cue of how the new ideas and the innovation are taking the
leadership in all business world, especially in Marketing. The good ideas can not be manufactured
so they have a really high value. To realize of a good idea or to innove in your industry can place
you in a really good market position. “The links between innovation and environment, reflects the
issue of innovation as an adaptive mechanism. If innovation is an adaptive mechanism, then each
innovative type should be associated with a particular type.of environment. In this sense the
adaptation is a strategic choice on the part of managers who attempt to not only adapt their
organizations, but also attempt to manipulate their environments” (Hrebiniak and Joyce, 1985; Miles
and Snow, 1978). The aim is to look for the customer desire, to know what your market segment is
looking for. “Knowing that an improvement in some functionality is important does not tell a
supplier if a customer is willing to pay for it” (James C. Anderson).

The most accurate term for the picture is visual marketing, which is becoming a essential
part in the Marketing plan´s companies due the actual situation (Internet and online purchases are
getting power with the pass of the time in front of the retailers). Visual marketing is part of the
strategies that brands must follow in order to build their personal image. This type of Marketing is a
strategy that involves using visual elements in your digital marketing campaigns to communicate
something specific about your brand, using images or videos, to help make the most impactful and
unforgettable advertising for your audience; to communicate a specific message.The message can be
varied and have an emotional rather than an enunciative charge. And is that images and videos have

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the ability to convey the same message faster and more attractive. In addition, it is a way of
communicating and seducing the audience.Taking care of it and putting effort in make a design or
idea of it with time helps to develop the branding of the brand more effectively. That is, the design is
not a final complement that is addressed when all other requirements have been completed.

In the same way that an architect projects the design of the exterior, the marketing director
must be clear about the brand image he wants for the product or campaign. If you don´t even have
clear your own branding, to arrive straight to your customers and be successful will be impossible.
Visual marketing develops the image of the brand and helps build branding and the brand
community it can have. The message can be varied and have an emotional rather than an enunciative
charge.

Positioning

Nowadays, the entrepreneurship is becoming more and more popular around the world. For
entrepreneurs, marketing strategies represent a very important pillar, social networks can become an
essential and innovative tool, to promote the products or services of a company, attract potential
customers or retain existing ones. Following this way, one of the most important concepts to think
about before throw one idea or product to the market is the brand positioning (which has been
commented in the last paragraph).When positioning a brand, the marketer establishes the company’s
promise to deliver a specific set of features, benefits, services, and experiences consistently to
buyers.The brand promise must be simple and honest. Brand strategy positioning include 3 levels:
product attributes, product benefits, product beliefs and values.Respect to the product positioning, is
the way the product is defined by consumers on important attributes, the place the product occupies
in consumers’ minds relative to competing products. Perceptions, Impressions, Feelings. On the
other hand we have the direct marketing which involves making direct connections with carefully
targeted consumers to obtain an immediate response and cultivate good customer relationships,
direct mail, telephone, direct response television, e-mail, and the Internet to communicate directly
with specific consumers.

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 To find the necessity, the position not occupied by any company is the real issue; to turn on
the light bulb is the objective which many people is looking for. However, exists a lot of theories
about what will be the next step in the business world, and one which is taking much power; is the
customize. Customization aims at satisfying as many needs as possible for each individual customer,
in contrast to conventional techniques, which try to reach as many customers as possible while
satisfying a rather limited number of customer needs (Simonson, 2005; Fiore et al., 2004). Kotler
(1989) and Pine (1993), among others, regard customization as an answer to the shifting nature of
customer demand for greater variety, more features, and higher quality in products as well as
services. Many researchers expect that corporate investment in customization technologies will
continue to surge in the future (Gardyn, 2001; Kim et al., 2001; Rust and Lemon, 2001).

Conclusion
In conclusion, there is an evidence that the customer must receive the business idea clearly
which has to be transmitted to all employees in a concise manner; in this way the image of the brand
will reach the target audience with more strength and clarity. The weakness is found when there is
not a clear idea of the branding around the company. The cartoon is a perfect visualization of what
all the marketing departments must look for their business, have a perfect image of the products or
services you sell while you must be updated and open-ended for new movements and trends. The
commerce online and the social media is the present and the future, and knowing how to handle it is
something you can not fail . Marketing will change its role within the company. It will have more
and more weight in senior management and decision making. The companies that do good
Marketing are companies that face the difficulties better and obtain better results.

References

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Manu, F. A., & Sriram, V. 1996, “Innovation, marketing strategy, environment, and
performance”, Journal of business Research, 35(1), 79-91.

Bonoma, T. V. 1985,”Case research in marketing: opportunities, problems, and a process”,

Journal of marketing research, 199-208.

Anderson, J. C., & Narus, J. A. 1998, “Business marketing: understand what customers
value”, Harvard business review, 76, 53-67.

Coelho, P.S. & Henseler, J. 2012, "Creating customer loyalty through service
customization", European Journal of Marketing, vol. 46, no. 3/4, pp. 331-356.