Marketing and cash register sales effectiveness

Marketing Makes the Cash Register Ring

State and explain your interpretation of the meaning of marketing

Marketing is the lifeblood of any business. This is because marketing encompasses more than traditional advertising. Instead, it reaches out to possible customers through: the added value that is created, the filling of specific needs and having a positive image. Together, these different elements allow someone to have a favorable viewpoint that a particular business can help them be able to satisfy their needs. Once this occurs, consumers will automatically associate a particular business with this desire to feel the various needs that they have. At which point, the consumer will begin to utilize a particular business even more. This is the objective of marketing, where you will use a number of different tools and techniques to be able to effectively influence perceptions about a business or product. As this image is repeatedly re enforced through a number of different mediums, a change in perception occurs regarding how various products / services / businesses are viewed.

Discuss your opinion of the role marketing in business.

Marketing should always play a vital role in helping a business grow. This is because its effects the ability to bring in both short- and long-term customers. Where, using a number of different forms of marketing, you can be able to build up increased awareness of the business and what it offers. Once this has taken place, the business can be able to begin to experience consistent growth, which will provide a solid financial foundation. However, some organizations view marketing as not important, this means when they need the assistance of the marketing department. It may not be there to help or support the short- and long-term objectives of the business. A good example would be: a business that is facing financial difficulties. The first thing that they do is: make significant cuts in the marketing department / budget. This hurts the business over the short- and long-term as the various tools used to provide exposure to the business are eliminated. At a time when the company could be facing added financial challenges, they need to increase the overall amounts of marketing. This will provide that consistent exposure the company needs to maintain stability during times of economic challenges.

Identify and explain what this article taught you that you previously did not know.

The article highlighted how the economy and the nature of business are constantly shifting. In many ways, one could argue that this is the biggest problem American business is facing. Where, managers and executives are focused on what worked in the past. They then assume that the markets and customer attitudes will remain the same. When this takes place, is when many businesses could lose their competitive edge. Yet, because executives did not pay attention to these changes, the business is facing severe challenges going forward. Conversely, if the business can be able to adapt to these changes, they will always remain at the forefront of the industry. A good example of this would be the Fisher Carriage Company; during the era of the horse and buggy they were the primary manufacturer for carriages. Then, when the automobile replaced the horse and buggy, they had to change in order to remain competitive. This meant that they would build many of the bodies used in the automobile industry. To this day, any Cadillac that is manufactured has a body that was constructed by Fisher. (Glaser, 2001) Had managers and executives not realized this fact, the company would have changed to late. Those who embrace change will remain a dominate force in the industry well into the future. While, those who ignore change, will face the precarious position of: having no future market and being to late to adapt. This is the point that many business will often disappear, because they did not embrace changes. (Glaser, 2001)

From your experience, general knowledge and some research of your own, identify and explain how one other company used any aspect of marketing to sustain itself.