In Response to Lyndzi Gray

Lyndzi posed the question, Since so much useful information can be learned in a marketing course then do you think it should be a required class to take? 

I believe that Marketing should be a required class for all majors. Although it does relate to Business majors  more than some others, all students could benefit from a course like Marketing. Marketing helps people learn how to navigate in a world full of competition. The point of Marketing is to publicize a products better than the competitor, therefore making more of a profit. But the competition does not end there, people need to know how to correctly market themselves in a job interview,  where they will be competing with other candidates for a position. They need to market the skills they have in a positive way, therefore making themselves look more capable than their competition. Marketing is really about competing to see which product, service, or person is the best fit for the consumers or companies needs. Competition is a huge part of life, and it is only growing because of the increasing access to computers, internet, social media, and other resources that make marketing a large part of everyday life. In order to find job, you have to know how to market yourself, no matter what the job is. I believe there is improvement that would be brought to any company of job, if everyone had a class in marketing, every student would learn how to plan improvements, make suggestions and make changes in whatever carer they chose. A background in Marketing is a positive advantage for anybody looking for a job. 

Do you think knoledge in marketing would be a positive addition to any job today?

Social Media's Impact on Marketing

Social Media is everywhere these days. Evey one has a Facebook, Myspace, Twitter or Linksys and use them daily for communication. These sites make money off of the advertisements they display on the sides or the webpage. But these sites also provide both positive and negative feedback about products or services that their patrons have used. For example, when may people post a status or write a comment about the same thing, they are grouped together on Facebook so everyone knows what a popular topic their friends are posting about. If these posts have to do with a product or service they revived from a company, whether the comments are positive or negative, they are published so all of their friends can see what their opinion was. This can be helpful or hurtful for a company, depending upon the feedback the Facebook users are giving. Many times I have found that if somebody is not pleased with a certain product or service, they will tweet or post a status about it complaining. This may just be "complaining" or "venting" to them, but for the company they are writing about this is negative publicity and can hurt their business. However the other side of this argument, is that when people are pleased with a product or service, they also write about that, and the good experience they had. I personally find that people take to Facebook and Twitter more often when they are disappointing in a company than when they are happy with a service they received. Probably because they are hoping for some sympathy from their friends, or to hear about a similar experience from another person. These posts to social media sites are simple things that people do everyday, and don't think much about. But when you think about the affect that your opinion is having on a business you can understand it from a marketing standpoint. Marketing executives spend hundreds of hours brainstorming how to advertise a product or service, and thousands of dollars to put their idea in motion. But with one sentence and s click of a button, all eight hundred of you your Facebook friends now know your opinion about a product or service. Do you think social media has affected Marketing is a more positive or negative way?

In Response to Christine Sullivan...

Do you think too much of consumers money is spent on marketing?

Yes. I do believe that too much of consumers money is spent on marketing. I believe that if less was spent on marketing the product or service, it could be less expensive, and therefore attract consumers on it own. The concept of marketing is very important, products and services need to be known so that people will want them. But I think that marketing on a smaller scale would be a way to compromise, then companies can get their product or service out there, but they will save money so they can charge less and therefore attract even more customers. It only takes a dollar to make a CD, but they cost around $20 a piece. The reason they are so outrageously expensive is because of marketing costs. The artists needs to be marketed in order to have people want to buy their music. If marketing costs were cut on items such as CD's consumers would be more willing to buy a CD because it wouldn't be so expensive. As Christine said, 50-60% of consumers dollars go to marketing costs. Which means that if marketing was scaled down, consumers would save money, prompting them to buy more products, because they saved that extra money. Marketing is absolutely an important concept, however it is too costly to consumers and should be downsized to some extent.

If you owned a business would you rather spend a lot of money on marketing, or cut the cost of your product or service so that it is more appealing to the consumer?

Marketing in Everyday Life

Marketing is something that we all use in our everyday life. Weather we are trying to get our friends to go out to eat at a certain restaurant by telling them all the positive points about it, or if we are telling someone about the new shampoo we just bought that makes your hair perfect. These are all examples of marketing, when we don't even realize we are do it. When we believe something is good, there is always a reason for it. For example, someone may like a restaurant because it has good service, good food, good atmosphere. So when we are telling people about why we like it so much we are marketing this restaurant, we just don't think of it that way. When people like a product they are going to share that with their friends. This depends upon how good the product is though, if the product is not that great, then its not worth it to tell your friends about it. We market in our everyday lives. However if you don't think about it, you don't notice it. Can you think of the last product or service you really enjoyed and may have told your friends about? Do you think marketing by word of mouth has a big impact on sales?