Free Knowledge and Skills Report Essay Sample
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Globalised marketing is important for multinationals as it is for individuals. For professionals seeking employment in international or globalised companies, it is important to understand the dynamics and principles of marketing and their applicability in personal marketing. It is also important for such individuals to understand challenges of marketing. The main aim of starting the module was to gain practical skills on marketing on a global level. Practical knowledge on marketing of professional skills and knowledge for employment is important for any individual. At the beginning of the module, I thought marketing of goods, services and skills and major differences in structure and principles. This was a wrong perception because marketing principles applies regardless of the type of product. The motivation behind attendance of the module was to acquire basic knowledge on marketing. The driving force behind the aspirations was to understand how consumers affect marketing efforts. This is a reflective essay on the knowledge and skills gained in marketing lectures and how this impacts on the writer’s ability to market self for employment.
Knowledge and skills gained
The learning objectives in week twenty included basic international trade theory, barriers to trade, how they are implemented and why they are implemented. The learner was also supposed to grasp how research on business environment overseas can be conducted and how companies use adapt their products to the needs of consumers oversees. This includes how companies can get into a new market and the strategies used. The most valuable skill gained during the week was on how to conduct a market research. One of the most enlightening pieces of information was the need to understand business rules which are beyond regulations and laws (week 20, 11). The knowledge acquired includes the layout of a successful research on market environment. This includes the need to know the basic factors that influence trade in the market which includes political, economic, social and technological environments. This is called PEST analysis although it can be expanded to include legal and environmental factors. According to Henry, the pest analysis helps a company to detect the weak links in the environment of business. It helps the company to understand extent of interference external factors pose into the business environment (Henry, 2008) 51. According to the modules it is important to learn the idiosyncrasies that affect the marketing environment. This includes the ideologies of the society, availability of data, the financial well being of the place and the language barriers among others (The International Environment , lecture 20) 11.
The alternative market entry strategies offered an insight into the entry strategies that one can apply to establish a business overseas. This is insightful to marketers as well as corporate who wish to expand their business empires to other countries. It is an important skill for all marketers because several alternatives should be analysed before settling on one. This is because, the marketers ought to understand the business environment, especially external one and how it can influence a new business. The marketer also needs to understand the barriers put up by the existing businesses in the industry/ market so as to choose the best entry method. The emphasis on the need to note the timing of market entry was understood (The International Environment , lecture 20) 5. This is because; factors such as political environment may be seasonal in how they affect the business environment. Social factors are also seasonal in that consumers change their priorities according to economic environment and personal taste and fashion. If possible, entry to a new market should be timed to correspond with high season regarding the fashion of the target market and their priorities.
Learning objective in week 21 included understanding how going green affects marketing. The objectives also include dunderstanding the challenges facing marketing and the importance of employing marketing ethics during a marketing exercise. The main skill gained understood the important marketing ethics and their implications. According to (Schlegelmilch, 1998), marketing ethics that should be adhered to includes involving all stake holders in marketing including the general public (Schlegelmilch, 1998) 65. He argues that the researcher should not be biased towards certain gender and culture when conducting a market research in a certain environment. This is because what the researcher does not deem necessary may produce an effect not foreseen in marketing. The researcher should adhere to the ethics of privacy when conducting marketing research in international territory. Respondents should not be named in the report and their preferences should not be made public knowledge.
The most confusing thing about the lesson was trying to understand whether the consumers are always right and whether they know what is good for them (Social and Green Marketing, lecture 21) 8. The need to go green was understood as beneficial especially to the company because it may save them money while increasing their sales do to consumer inclination towards green products. For market researchers however, researching effect of going green may pose a challenge because customers may lie about their feelings towards green product.
Week twenty learning objectives includes understanding planning in marketing and how firms adapt their marketing plans according to environmental factors and the changes they present in marketing. The most important skill gained was the understanding of importance of control and change adaptation in marketing implementation. It was important to understand the basic stages in marketing planning process. Concurring with the lesson, (Dibb & Simkin, 2008) argue that marketing planning helps the marketer to determine the marketing targets and the competitive advantage the product has over others in the market.
The learning objectives of week 23 include understanding the challenges faced by marketers and how the marketers can work with changing social and cultural preferences. It was understood that social changes include class changes and behaviour changes. The society behaves in the social context of the dominant culture. It is therefore important to understand the dominant culture and their preferences before setting up shop in a new environment. The marketer should also understand how affluent people influence trends and fashion in the new environment and how fast the economic well being of the people in that area changes (The Future of Marketing, 23). Social challenges is one of the major challenges faced by the marketer and understanding he cultural preferences of a people affects the responds of the environment to the product. This is because according to (O. C. Ferrell, 2011), marketing is inherently a people driven affair (O. C. Ferrell, 2011) 24.
The module was enlightening and covered all the basics of marketing. The marketing in this case was international marketing and was noted to be not different from normal marketing. This is because the main methods used to conduct a market research and the same as a normal marketing although different in application to international marketing because of the legal requirements. Different skills and knowledge was acquired which would help to understand marketing on a large scale and its application in different case scenarios. In the future, research need to be conducted on the green concept of marketing and how to understand the green needs of a consumer.