Marketing is one of the most common and, at the same time, the most complicated occupations these days. It is everywhere, from romantic relationships to families and large intercontinental businesses. Marketing is much easier to understand if it relates it to the laws of physics. The meaning of various marketing processes becomes much clearer in the light of physics. The example of the amount of force applied to some object to change its direction with relevance to mass explains companies’ difficulties with their large brands.
In the modern world of business, trends change rapidly, so it would be better to have several smaller brands to reposition them according to the market’s changes rather than one large brand that would require enormous expenses to change its positioning.
The example with the meaningless efforts in physics to determine the position of the atomic particle that changes its place because of measuring explicitly explains the need for a thorough analysis of the market environment of a company. It is very important to know what customers want rather than assume, using surveys, for example. It is necessary to analyze the data from different sources about the processes that may seem unrelated to customer satisfaction.
Various trends in the market can be addressed using such data. Buying habits, traveling routes, seasonality, weather influence, the economic situation, the influence of globalization, and many other data sources can be used to determine customers’ actual needs. It is the emphasis on the utter importance of the customer-driven marketing strategies in any business.
Then, the example with entropy is excellent in showing the connection between social responsibility and ethics in business and a good image. It is a very important lesson for the companies in any sphere of operations, whether it would be ice cream marketing or aircraft. Ethics is essential for business operations between the business partners, for example, between a company and its clients. It is critical to be ethical in everything because one wrong step can destroy the decades of hard and determined work.
From this video, I have learned that it is quite useful to have a bigger picture of things and processes. It is important to look at any problem, especially the marketing one, from a different perspective. Such an approach can provide numerous benefits in forming new ideas, for example, or approaches to resolving the existing issues or performing the ongoing tasks. Physics appeared to be very useful to determine the fundamental issues marketing can have in the inexperienced or unadaptable specialist’s hands.
Another lesson I have learned is that everything is interconnected. It is necessary to understand the essence of the processes to know how it is better to solve different tasks. I think that people with a scientific background can be more useful in marketing than those who have zero experience in other areas and know marketing only.