Essay about Marketing: Marketing and Social Media

Submitted By e111512
Words: 863
Pages: 4

When considering this quote from a marketing perspective, it reinforces the concept that a company, its management team, and employees must thoroughly familiarize themselves with the needs and wants of its customers. In addition, if that company wants to stay relevant in the market place, it must find a way to provide for those needs and wants without sacrificing the general objectives of the company. During times of hardship, market oriented companies have to sometimes remind themselves of what they do and why they do it. The text defines the marketing concept as “the social and economic justification for an organization’s existence is the satisfaction of the customers’ wants and needs while meeting organizational objectives.” (Lamb, Hair, McDaniel, 2011, p. 5, 6) It seems that when Donald E. Petersen made this statement, his intent was to reorganize the general atmosphere at Ford Motor Company with a more market oriented focus. To substantiate Mr. Petersen’s statement, the text offers that the marketing model operates using the three following concepts:
• Focusing on customer wants and needs so that the organization can distinguish its product(s) from competitors’ offerings
• Integrating all the organization’s activities, including production, to satisfy these wants
• Achieving long-term goals for the organization by satisfying customer wants and needs legally and responsibly
In short, his statement encouraged workers to get back to the basics of offering potential customers what they wanted before they lose the opportunity to offer them anything at all.

2) Dear, John
I would have to agree with your statement of “People don’t know what they want – they only want what they know.” A perfect example that comes to mind would be when my family and I decide to go out for a meal rather that eat at home. Typically, we end up going to one of the three places that we always go to. With that being said, there are a multitude of restaurants that we have never even tried but yet, we still end up going to somewhere that is familiar and safe. There is a hesitancy to try something different due to the uncertainty of the outcome therefore, we want what we know. At some point and time, those familiar establishments initiated and established a foundation of trust with my family and gave us want we wanted.
Conversely, our habits and the habits of the any consumer are open to influence and can be changed through creative and intuitive marketing. My family, like most others, is typically driven by the assumed and realized value of any product we purchase. Specifically, we most often speculate as to whether the sacrifice is worth the reward. Therefore, market oriented companies should be motivated by the same. If a restaurant offers a product that satisfies our expectations of quality, value, and service, they will at least get us through their doors. In addition, if they can earn our trust through consistent yet creative experiences, they will keep us coming back.
Like any consumer, my family is going to purchase products that we want. In turn, we can be provoked into purchasing one product over another similar product. If a marketing organization can pinpoint and target our wants and needs, they can ultimately influence our purchases of one product over another. Hence, we don’t know what we want; we only want what we know.

3) At first glance, some obvious marketing strategies these two…