Marketing (as a marketer) - Essay Example

Part I In the contemporary environment, price and pricing are not the only factors that impact the sales and marketing of products and services. Kotler and Armstrong (2010) have asserted that macro environment factors vis-à-vis technology, socio-economic and political changes, cultural, demographic and environment are major elements that have significant impact on the market. The changing lifestyle has made demographic and environmental compulsions important part of market strategy. Thus, price changes within the products must incorporate these factors so as to remain attractive to the changing preferences of the customers.

Part II In the recessive environment, while pricing has remained the dominant problem, the firms are increasingly facing competition from other macro-environmental factors. The after sales service has become critical to retain customers. An effective distribution and delivery system that focuses on time and place has also become vital part of market strategy (ibid). The fast changing preferences of the customers, technology, environment and ethical considerations have become vital elements that impact organization’s performance outcome.

The consumer psychology plays strong role in the development of new products. The market strategy therefore needs to emphasize on brand creation and advertising to suit the segmented market. Part III Wal-Mart’s strategy to introduce private label products should not impact the pricing dynamics of firms like Aveda, Kellogg and Starbucks etc. These firms have already created a niche market for their products and their brand strategy is targeted towards the market segment that strongly believes in the credibility of brands.

The perceived value of the products of these companies meets the consumption value and therefore considerably satisfies the target consumer. Identification of attractive market In the age of advancing technology and globalization, the businesses have become highly competitive. Consumers have become the mainstay of the businesses that has necessitated the need for dynamic market strategies. Indeed, understanding the consumer psychology has become intrinsic part of business decision making. The identification and analysis of consumer behavior at different level of interaction helps the companies to evolve strategies for gaining market position.

Thus, product development and market strategy are primarily defined by major segmenting variables like age, gender, income etc. These help provide the firms to develop effective market plans so as to influence the buying decisions of the target market. When marketers use multiple segmenting bases, they are able to create effective brand image which greatly provides them with competitive advantage. At the same time, by leveraging price, the firms are also able to enhance their customer base and penetrate new market segment.

Interestingly, globalization has provided the firms with huge scope of market expansion across geographical boundaries. Through mix and integrated marketing communication, the firms can exploit the emerging new markets and gain market position. For competitive advantage, the firms strive to create niche market position. Market positions become important for businesses because they help the companies to maintain and increase their customer base within the target market. The organizations meet the changing requirements of the consumers through new product development.

At the same time, exemplary customer service before and after the sales process is maintained which significantly contributes to the customer satisfaction.ReferenceKotler, P. and Armstrong G. (2010). Principles of Marketing. Pearson Prentice Hall, Thirteen Edition. New Jersey, NJ.