Marketing - Its So Very Human!

I chose marketing not because I was inclined towards the four P’s, but because I found this subject somewhat more practical than others. Probably the strong faculty in marketing also influenced me in making this career decision. And I have never regretted this decision. My theoretical knowledge in classroom teaching made me observe so many things in a better way. 

Probably “structured way” is an apt phase. I started connecting marketing with almost everything. When a child is born, the event is a kind of “NEW PRODUCT LAUNCH”- a NEW PRODUCT, who is to be named. Someone who will create a different brand value altogether. Either he will be known because of the “PARENT BRAND” or he will create his own identity and his own sub-brand. In course of time, he will interact with different people- maybe the “clients, users or the competitors”.

With his actions, he will be “POSITIONED” in the mind of others. Whether the marketing message he is giving, is consistent or not, would depend on the types of personality he is portraying. An inconsistent message would create a “dilemma” in the decision of buyers – colleagues, friends, TRADE PARTNERS- Juniors, neighbours, bosses; sometimes even the suppliers – parents and siblings.

Now the so-called “child”, who has reasonably grown will not like to be associated with cheaper brands because that can “DILUTE” his “BRAND VALUE”. While reaching the peak, he will suddenly add to his ego, attitude and rude behaviour – such a sudden increase in his “PRICE” value will affect his buyers in a negative way. There will be a sudden fall in the number of well-wishers. Some will switch to other brands – the people who can provide better benefits. Some will stay forever – The family, the best of friends – The set of “LOYAL CUSTOMERS”. The so-called “child”, who is no more a child is tested and tried by a number of people in his life – “THE PRODUCT LIFE CYCLE”.

In a competitive world like this, where everyone is fighting to make a brand out of him; “HE” tries to find a feature that can help him “DIFFERENTIATE" and provide a “COMPETITIVE ADVANTAGE”. He starts focussing on his “CORE COMPETENCY”.

He promotes himself through “PACKAGING” – following the latest fashion trends. He “CUSTOMIZE” himself according to the customer’s demand – Maybe he wants to get into the IT industry, so he learns C++ and JAVA! Then sometime in life, he reaches the stage of “MATURITY” – he becomes more or less stable now. He starts focussing on the “TARGET AUDIENCE”.

The only thing he focuses upon is “RETAINING CUSTOMERS”. The customers who still make him feel important and worth something – The respect, recognition, care etc. Then comes the “FINAL STAGE” of the product life cycle. At this stage, “new spectacles” is the only investment a company can make for the dying product. The other expenses also happen – on medicines, treatment etc. According to the BCG matrix – it brings the product to the quadrant named “DOG”. Will he ever die or live forever, is up to him. 

It depends on the “FORMULATION” of the “STRATEGIC PLAN”, the way of “IMPLEMENTATION, “MONITORING” and “CONTROL”.