Summary
Marketing can be described as a set of activities that an organization undertakes to enhance the buying and selling of its services and products. Cultural, audience and competitive insights have a greater impact on influencing the career outlook and educational goals of an individual. One can analyze marketing insights and their impacts on the life of an individual relating to the course taken as seen below.
Audience insights are the ways and strategies used by marketers in finding creative ways to approach their customers from different platforms and sell their products. Most organizations rely purposely on demographic data collected from platforms like Facebook which become crucial starting points for their breakthrough. Identifying what the user wants and fulfilling their want is a major step towards a rewarding and successful business (Campbell and Brauer 610). Having been equipped with audience insights one can be able to acquire a fan base on different social platforms to run a business. Customers sometimes are enticed by the products they see online and they order from the seller. With knowledge of audience insights, I can be able to attract and main my customer base online.
Competitive insight is aimed at looking into the competitor’s pricing approaches and formulating ways to offer a better transaction or provide better products for an outstanding price. These insights have impacted my thoughts scholastically and business-wise. Academically, I have been prepared in several ways that will assist me with finding favorable ways to strive in the business world which we all know is very tight and competitive. Regarding the business side, I have learned how to handle competition from other premises and be creative on means to outshine others without causing wrangles and creating enmity.
Cultural understandings entail evaluating the daily routines of the customers. Moreover, this insight trails, measures and highlights the unseen cultural forces affecting their lives, and the choices of consumers. As an entrepreneur with cultural insights, we are equipped with tools that will help us grow culturally by knowing the tactics and innovative solutions for the target group we choose. Generally, in life after school, one will have to use these insights to live competitively in society while providing what’s missing in the market.
Impacts of Marketing Insights on Life in General
After a marketing course, an individual who is well equipped with this kind of knowledge is capable of starting his or her premise without any difficulty. Moreover, one is entitled to diverse career choices ranging from sales, medical, statistics, and many more. I started a business that has started selling online and offline with a greater customer base on online platforms. I learned much about international trade systems and political and cultural environments in a foreign country that can affect the organization’s marketing decisions, which I hope to consider when expanding my business.
Identifying the market niche and fulfilling it, was my main aim, and I have made much progress in tackling the issue. Learning how to communicate with customers was advantageous as I managed to maintain my daily customers, whereby some were enticed with little promotions, and I offered to attract them. An individual is able to critically define primary and secondary sources of information that can aid in establishing a strategic business plan. Also, one can comfortably describe the process for new product development while listing the cost and benefits associated with marketing channels.
The marketing course provides one with job security in times of calamities when there is a total disruption of business. One can work online or remotely by reaching out to new customers. Additionally, personal enjoyment is guaranteed when managing the brand’s social media sites and designing packaging for new services and products. The course assists one in choosing from a variety of careers ranging from retail, advertising, brand and logistics management to sales. In conclusion, marketing insights help an individual to foresee a certain need that is missing from the market and develop ways to meet the demands. Marketing insights are crucial for any individual that wants to start-up or is running a business.
Work Cited
Campbell, Mitchell R., and Markus Brauer. “Incorporating Social-Marketing Insights into Prejudice Research: Advancing Theory and Demonstrating Real-World Applications.” Perspectives on Psychological Science, vol. 15, no. 3, 2020, pp. 608–629.