The meaning of marketing critical thinking sample

Introduction

Part of the meaning of marketing looks at effective profit strategies. Hiring additional salespeople to market the managed care plan more aggressively to pick up enrollment showing below the forecasted level for the original target date remains a one dimensional profit strategy characterized by its own inconsistencies. The inconsistencies between this decision to maximize profit in this manner compared to an evolutionary marketing perspective centers on best practices having more than one strategy connected to external factors and the long range – larger picture connected to resources and life cycle states of the product.

Evolutionary Perspective

The basic precept of the evolutionary perspective of marketing looks at strategic connections to accumulating knowledge of the life cycle stages of the product with consumer trends – in this case consumer desirability of a membership in a managed care plan. Strategically, the life cycle challenges goes beyond merely looking at sales as a means for predicting profits. The big picture takes into account the organization’s external resource needs and acquirements characterized by groups of problems/issues needing resolved at each stage of the product life cycle with its own distinctive needs and demands. This entails organizational strategies. Hwang and Park (2007), advise, ” Also, life cycle stages have been used as a contingency variable to study changes necessary for planning purposes in many firms.” Having different marketing strategies allows seeing what works best so the market dictates the strategy and not management (p. 427). Mitchell (2009) explains the transformational aspect of marketing and profit margins remains driven by strategies drawing on consumers’ decision-making trends (p. 26).

Conclusion

In part, the meaning of marketing takes into account effective strategies such as the evolutionary perspective. There has to be more than a single vision for acquiring profit beyond the one-dimensional hard sell model. Having more than one sales strategy allows flexibility and better use of both internal and external company resources connected to how the market for the product influences profit planning.

References

Hwang, Y., & Park, S. H. (2007). The Organizational Life Cycle as a Determinant of
Strategic Alliance Tactics: Research Propositions. International Journal of Management, 24(3), 427+.
Mitchell, A. (2009, September 9). Alan Mitchell: Reinventing Marketing – Now We Can Take a Rational Approach to the Irrational. Marketing, 26.