Strategic Marketing for Competitive Advantage - Discussion
Understanding marketing is vital to your success as a business professional. According to Lamb, Hair, and McDaniel (2014), "Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large" (p. 3). Companies that fail to embrace marketing as an essential business function commonly fail. Companies that effectively employ marketing strategically and tactically typically prosper.
You practiced with developing your own slogan or motto in the Introduction Discussion, which is a form of personal marketing. Since you are a product in the career marketplace, it is essential that you properly market your personal brand by communicating a message that personifies your personal brand. Now you will learn how a company employs marketing, watch the following video on Geoffrey B. Small®, a popular clothing fashion company:
Using research from your textbook, write a 200 word response to the following questions:
1. Describe how Geoffrey B. Small actively implements the marketing concept.
2. Compare and contrast the four marketing management philosophies that companies choose to adopt.
3. Identify the type of marketing management philosophy employed by the Geoffrey B. Small company.
4. Discuss how the Geoffrey B. Small company can use social media to demonstrate their commitment to the marketing management philosophy they employ.
References
Lamb, C. W., Hair, J. F., & McDaniel, C. (2014). MKTG7. Mason, OH: Cengage.