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Self-Reflection Piece for Marketing

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Submitted By FionaBurns80
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What is marketing? How does it fit into the business setting and how do we use it to our advantage? In this self-reflection we will explore the disciplined and how it is effectively applied. I will be discussing what I believe marketing is, my understanding so far of its’ environment and how I believe marketing will assist me in my career.

When I first enrolled in marketing after helping the marketing team in previous jobs, I thought I had a decent understand of what marketing was. I have to admit, I thought making was promoting products to get customer to buy them. After my first module I discovered how wrong I was and my eye where opened to the much bigger picture of marketing. My understanding has grown incredibly and my original thought completely changed. I now would define marketing as “the activity, set of institutions and process for creating, communicating, delivery and exchanging offerings that have value for customer, client, partner and society at large” (America Marketing Association). Basically it is someone with a product, be it a good, service, idea or person, making an exchange with another party and both parties must feel that the exchange has left them better off to prior to the exchange. For this exchange to happen many steps need to be considered, including understanding of the market, creating the product, communicating the new product to the market (promotion) and distribution, right place right time. Another very important factor is value, customers assess value as the product receives against the price paid (total offering). This over time has become much harder to predict as the market becomes more cluttered and the markets preferences continually evolving. To help to take variables as these into account, marketers use a marketing matrix known as the 4 P's, product, price, promotion & place.

I believe that studying

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