Question

In: Other

What is marketing and why is it important to study marketing?

It's a marketing question that would help students gain answers

Solutions

Expert Solution

Marketing is more than a concentration within a business major. More accurately, it describes a collection of skills that are useful in any career (Ruigu, 2021). As a professional discipline, marketing is a vital function of any business’ operation. It explores customer perceptions and journeys as primary sources of profit. It also utilizes various data to make smart and insightful business decisions.

            On a broader scale, marketing skills transcend the business world and are used in many careers. Even outside of a traditional marketing role, people benefit from knowing the fundamental values that connect people, brands, and businesses.

Below are some of the main reasons as to why studying marketing is important.

Get to Know the Customer

            Even with the most robust business plans, it’s the customers who make the rules. They drive brand equity through their various perceptions and journeys (Morgan, Whitler, Feng, & Chari, 2019). And that means companies must be closely attuned to their customer base if they want their brand to grow.

            Similarly, the ability to understand the wants and needs of different groups of people is useful in any job (Ruigu, 2021). Marketing teaches that customer/employee/stakeholder/patient insight is a large factor in determining success.

Learn How to Captivate

            Perceptions of truth largely dictate the decision-making process for many consumers. Marketing allows the opportunity to examine that process alongside the intricacies of design, promotion, and branding. Consumers make purchases based on how products and services are packaged. It is not a decision based on truth, but rather the perception of truth (Pride & Ferrell, 2021). The ability to influence decision and buying habits is a useful skill, even outside of a conventional marketing role.

Read and Understand Data

            Marketing teaches valuable skills in data interpretation. Though not always stated as a job function, many companies delight in having candidates who know how to read data.

Marketing experience, even if it’s just a course or two, can lend to foundational knowledge in data interpretation and analytics (Pride & Ferrell, 2021). This exposure can then be used in any job that relies on customer feedback, data, or metrics to inform success. No matter what the field or industry, the ability to read and understand data is integral to making strategic decisions.

Deal With People

            Marketing explores human interaction as an important function of a business. Not only are marketers tasked with understanding customer experiences, but they are also expected to know how to communicate with diverse audiences with varying levels of cooperation (Ruigu, 2021). In other words, marketing imparts communication tactics that are useful in dealing with different groups of people. So, whether it’s a doctor in a hospital or a lawyer in an office, understanding how to communicate with different people is invaluable in the workplace.

Gain Awareness

            Marketers stay in the know because awareness keeps them close to their customers. That insatiable drive for mindfulness can prove useful in any career, most especially where close relationships determine success (Ruigu, 2021). Marketing examines relationships from both the standpoint of the business and the customer. This dual perspective is the key to making insightful decisions.

Conclusion

            A degree in marketing prepares students for more than just a career in business. Marketing is a thorough exploration of customer perceptions, buyer personas, messaging, communication, data, and much more. A marketing degree, even if it is not utilized in a traditional business setting, equips students to act as well-rounded, critical thinkers. Not only do marketers present impeccable skills in data interpretation, but they also offer the higher-level thinking that turns analytics into strategy. Even if it is just a course or two, foundational knowledge in marketing makes savvier professionals — no matter what the industry.

References

Ruigu. J. (2021). How do Consumers use Brand Affiliations on Social Media to Create an Image? Retrieved from: https://kickgrademaster.blogspot.com/2021/10/how-do-consumers-use-brand-affiliations.html

Morgan, N. A., Whitler, K. A., Feng, H., & Chari, S. (2019). Research in marketing strategy. Journal of the Academy of Marketing Science47(1), 4-29.

Pride, W. M., & Ferrell, O. C. (2021). Foundations of marketing. Cengage Learning.


Marketing is simply the action of promoting and selling products or services; this includes market research and advertising. In this case, it is therefore important to study marketing as it allows the opportunity to examine that process alongside the intricacies of design, promotion, and branding.

Related Solutions