Introduction
Marketing is a practice done by individuals, institutions, and managerial entrepreneurs to manufacture and correspond to buyers who might be customers or dealers. The whole process ensures organizations offer and takes commodities and services to and from their partners, clients, customers, or the whole society nationally and internationally. Marketing creates a business environment hence, the main reason why a degree in marketing is an asset in the success of most business enterprises. The whole process serves as the main basis for determining an organization’s market segment (American Marketing Association, 2007, Para. 4).
The success of any business opportunity and enterprise depends solely on the marketing managerial skills used by the company or firm in relinquishing its products to customers who are the main consumers. Marketing management is a module that has all potential dynamics including modalities, techniques, and customs of a firm. This helps in the application of correct and available wealth and tricks for the success of the business venture. The role of the marketing managers is to ensure that, there is a wider influence on customers’ expertise, proper instance schedule, and defining and predicting the demand geared to produced commodities. As a marketing student, these are the modules to grasp which find wide application in the field of marketing management. My degree in marketing management is a theory focusing on practicality and reality in the business environment. The skills acquired range from commercial norms, type of engagement industry, and the business magnitude. If the business enterprise is bigger, then marketers require higher skills to manage it well (Conley & Friedenwald, 2006, pp.7-9).
Importance of the Marketing Management Degree
A degree in marketing management creates an insight thought to the learners who will make pragmatic business and marketing pronouncements in a vastly growing market full of demands and liquidities. Companies need brand design, media residencies, proper distribution of goods, and clear management that will succeed in vending the products. This is what I learn in my marketing degree. Wide and extensive knowledge of customer needs and their feedback achieved in class is a reckoning force that is instrumental in determining the demands of customers through brands created and marketing strategies employed for the welfare of the firm. A degree in marketing gives one an insight on how to develop a modality that will enable one to calculate the profitability of a brand or product. On the other hand, such calculations will help an organization to ensure there is a unified success both in sales and production (Jenkinson, 2006, pp.248-252).
Some people may argue that everybody is a marketer whether with a degree or not. However, a degree in marketing exposes one to marketing researches, which somebody who has no knowledge in marketing research cannot undertake. There should be a mutual understanding of strategic marketing, which is the main source of consumer behavior and characteristics. To learn strategic marketing, one requires skills taught in class by researchers who have experienced market trends. Strategic marketing involves modules that create a business environment, which tolerates the concentration of a firm’s resources. This helps to realize a competitive market with increased sales, through the application of appropriate marketing strategies. The central role of a marketer is to ensure that there is customer satisfaction, hence the main importance of marketing degrees. A marketing degree encompasses strategic models, different types of methodologies, plans and steps to undertake, and most important, strategic corporate ideologies. A marketing degree helps an individual to dedicate and focus modalities that will create higher sales and perhaps reach the targeted market forte.
As a marketer, the skills learned in-class work are instrumental in making promotions of products produced by a firm. If firms need to sell their produces effectively and make a higher percentage profit, then all must start with excellent product promotions. On the other hand, making good judgments on product costs, first-class distribution environments, and outstanding relations with other stakeholders can propel a business up the economic ladder. Conducting correct sale procedures determine the amount of revenue generated by organizations, and they sorely depend on marketing strategies. If poor marketing strategies are applied, then all organizations expect is poor business transactions caused by meager demands from customers, who are consumers of products produced by different firms. Marketing strategy as a module of marketing management enables a marketer to manage the targets of a firm. This is because they help to determine a viable market, where demand is high, when and where to carry out market promotions. In addition, they help to determine how a firm can distribute resources to all departments to achieve success in its business.
Through learning, marketers are able to learn how to handle customers who are the main backbone of a firm’s revenue. Individuals who prospect to be marketers must know how to use customer knowledge effectively in realizing their wants and rejections. In addition, the knowledge helps to know how to search for a viable environment where demand is lofty and competition is at the brim. A marketing career requires a marketer to have enormous skills in terms of corporate targets, operations, and policies, which establish the success of the firm in terms of demands and sales. Moreover, a degree in marketing is rich in useful skills concerning market trends from capitalization to supremacy (Bush, Shannahan & Dupuis, 2007, pp.40-45). One is able to distinguish between different types of market trends like who is a follower, a niche, a challenger and a market leader hence make a sound judgment on what to add to a market. This in turn will increase competition and create profound sales of commodities produced. Penetration into market dominance is not in-born but rather acquired through learning and acquiring experience from the arena of marketing.
New product development and a good strategy framework form an integral part of a marketing professional. Product differentiation and market segmentation are leadership strategies acquired through learning whereby, communication skills play an important role in ensuring the success of a firm’s strategic marketing policies. Marketers are able to develop marketing plans for their companies later in their profession because they have extensive knowledge of the same. On the other hand, demand realization requires convincing customers to buy expensive and cheap products through proper sensitization of such products. The majority of actions by marketers sway Customers, which include making research proposals, determining the price of the products (in an aggressive market environment), proper promotional services, and superb distribution of products to potential customers. These market segmentation strategies help in solving multifaceted situations facing marketing strategies of a specific firm’s market segmentation.
Any business enterprise whether small or big demands business ethics and adherence to business law. Strategies used by marketers during the overall process of strategy internalization will depend on the amount of knowledge acquired through learning. A firm’s reputation and its business environment are fostered by research and consumerist projects, hence consideration of many marketing factors (Maignan & Ferrel, 2005, pp.3-5). Strategic marketing plans originating from professional marketers try to answer complex situations, which determine the viability of the business. Through research, marketers realize the strengths and weaknesses of a firm, achievements, and customer demand. In addition, researchers can learn methods of increasing an organization’s promotions in order to attract more and more customers. Marketers and organization’s management realize business behavior by the conceptual analysis of the demands from market feasibility. This induces a signal to the firm and marketers on whether to adopt different measures or employ new mechanisms to deal with the problems that may tend to jeopardize the entrepreneurial setting of an organization.
Conclusion
In conclusion, Marketers are the driving forces of firms and all business organizations, if the product sale and customer demand are under question, then the potentiality of organizations should question the potential of marketers. Good marketers are those who can transform their knowledge into finished products. In a marketing language, both the organization and consumers see products produced as clarifications, whereas promotions constitute a demanding portfolio from customers. Fixation of the price on services and products gives worth to a company, which must generate enough revenue to cater for expansion and business fitness. If an organization or a business unit distributes services and products according to the knowledge of the marketers then, there will be easier accessibility of such goods by customers hence a higher demand. Generally, a marketing degree is good for a business to thrive as one can apply it in ensuring proper marketing strategies, increased demand from customers, making research proposals, and determining a viable market environment.
References
American Marketing Association, 2007. Definition of Marketing. Web.
Bush, V.D., Bush, A.J., Shannahan, K.L.J., and Dupuis, R.J., 2007. Segmenting markets based on sports orientation: An investigation of gender, race and behavioral intentions. The Marketing Management Journal, 17(1), 39-50.
Conley, C., and Friedenwald, F., 2006. Marketing that Matters. San Francisco. Koehler Publishers. Web.
Jenkinson, A., 2006. Do organizations now understand the importance of information in Providing excellent customer experience? Journal of Database Marketing & Customer Strategy Management, 13(4), pp.248-260.
Maignan, I. and Ferrell, O.C., 2004. Corporate social responsibility and Marketing: An Integrative framework. Journal of the Academy of Marketing Science, 32(1), pp. 3-19.