Online Marketing, Essay Example

A1. Two of the most important concepts I have learnt in the course that will help me devise an effective plan for my career are SWOT analysis (MindTools) and marketing mix or 4Ps (MindTools). One of the reasons I have chosen business major is to learn about different operational aspects of an organization since my goal is to eventually become an entrepreneur and manage my own company. I am aware of the fact that most new business fails, thus, in order to build a strong foundation, I aim to work at a multinational company for few years before venturing out on my own. But the competition for jobs is tough and it is especially true at multinational companies. In order to increase my chances of getting into a dream company, I will first have to evaluate myself so that I can plan to exploit my strengths and work on weaknesses. This is why I have chosen SWOT analysis as one of the tools to plan my career path. After reading Appendix B, I spent about half an hour on personal SWOT analysis and have already gotten a good idea of my strengths that may provide me a competitive edge against other candidates and weaknesses that I need to work on.

One of my strengths is communication skills including cross-cultural communication skills and it is one of the major soft skills desired by most employers now. My strengths also include analytical and critical thinking skills because I read on a wide range of subject matters and often engage in discussions with people from diverse backgrounds. This has helped me advance my perspectives and become better aware of prejudice and stereotypes. My strengths also include time management skills which help me become more efficient at managing various tasks. As well as my weaknesses are concerned, I am a perfectionist which may create conflicts with those who take things in a relatively relaxed manner. Similarly, I am always pushing myself to the limits and may assume more responsibilities than I can handle at times and which does negatively affect my performance to some extent.

Marketing mix or 4Ps is also a great strategy that will help me plan my first job more effectively. As far as product is concerned, the product will be me or an undergraduate with business degree who has strong communication skills, cross cultural skills, analytical skills, and critical thinking skills. My price will be the compensation package and in order to make sure I negotiate a reasonable price, I will thoroughly research salary data online. I will promote myself in a variety of ways including social media such as LinkedIn, personal contacts such as friends, family members, and my parents’ acquaintances, internet job search websites such as Monster.com, and job hunting agencies that work with multinational firms. As far as place is concerned, I will enhance my attractiveness to potential employer by willing to relocate anywhere. In fact, one of my priorities at first job will be to take assignments in a wide variety of places, both local and international, to truly prepare myself for success in a global environment.

A2. Cloud computing, social media, mobile devices, and mobile applications (apps) make me realize that there is arguably no profession or industry that has not been shaped by internet-enabled technologies to some extent. The popularity of these technologies and devices has for the first time challenged the supremacy of traditional print and electronic media and this change has mostly been good for both marketers and consumers. As far as marketers are concerned, they have more control over their marketing activities in addition to low costs and now they can communicate with consumers both ways as opposed to traditional media in which the communication is usually one way, i.e. from marketer to consumers only. Similarly, marketers can now reach their consumers literally anywhere because internet provides instant connectivity and in addition, internet-enabled technologies now exist in the palm of our hands. As far as consumers are concerned, they have more power because they can directly let marketers know what they want or need and social media has also enabled consumers to employ word-of-mouth marketing with greater impact. Not surprisingly, companies try to respond to negative social media feedback and comments on a priority basis. In other words, internet-enabled technologies have provided more options to marketers and have enabled them to achieve more with low marketing budgets but at the same time, these technologies have also given more voice and power to consumers. Businesses are really being forced to be consumer-focused now.

I don’t think they replace traditional sites because each marketing channel has its own strengths and weaknesses. One of the concerns about internet marketing has been privacy issues and reputed websites can help ease privacy concerns due to better security measures. In addition, visitors to certain websites have quite similar characteristics, thus, they may appeal to marketers targeting certain market segments. In addition, websites often have valuable data on consumer behavior that marketers can use. There is a reason why Google earns billions of dollars in revenues.

As far as desktop is concerned, I prefer to use the term ‘evolution’ in place of ‘death’. Instead of saying desktop computer or laptop computer, I prefer the term ‘computing device’. The trend from desktop computer to laptop computer to tablet devices now is nothing but the fact that computing devices are becoming more powerful and smaller at the same time for the sake of convenience. After tablet devices, the next shape of computing technology may be something like Google Glass and I would not be surprised if computing technology takes the shape of contact lens one day. One of the things I have learnt in this course is that products and services should be evaluated on the basis of needs and wants they meet. Desktop computer, laptop computer, and tablets devices basically meet same needs but later devices offer better value due to convenience and other features that enhance overall user experience. One of the facts has been established that marketers and consumers will now be connected to each other round-the-clock 7 days a week and 365 days a year. The only thing that will change are marketing strategies as consumers’ tastes and lifestyle needs evolve over time.

A3. My favorite thing in the course was class discussions because it really helped me better understand course concepts and also benefit from others’ observations in the real world that I missed out. There is one recommendation I would like to make which is to invite speakers from different industries so that they help us better understand the trends in the real world. This will also help us develop more realistic expectations of what real world is like and plan our career path accordingly.

References

MindTools. (n.d.). SWOT Analysis. Retrieved December 17, 2013, from http://www.mindtools.com/pages/article/newTMC_05.htm

MindTools. (n.d.). The Marketing Mix and 4 Ps. Retrieved Deember 17, 2013, from http://www.mindtools.com/pages/article/newSTR_94.htm