Week #13- Marketing Concepts

Production Concept

• The production concept is based on the approach that a company can increase mass production through an increase in supply while decreasing its overall cost. 
• By doing do, the company will be able to profit much more from a product or service rather than spending more on labor, material, and overhead.

Product Concept

• Based on the company's assumption that customers prefer products of greater quality, lower prices, and an increased availability. 
• When a company decides to introduce a new product or service into the market, they need to give the customer a reason why they should choose their product or service over the one that a competitors is selling. 
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Selling Concept

• A company's assumption that a customer would only purchase their products exclusively from them, but the assumption does not include the relationships that could be built with the customer.

Marketing Concept

• Concept that places the consumer at the center of the organization and al the activities. As a result, all the activities and research a company does is aimed to get to know the consumer better.

Social Marketing Concept

• The belief that a company as a whole needs to target and deliver better values than its competitor. It emphasizes the importance of the well-being of both customers and society as a whole, It also demonstrates to consumers that the company isn't exclusively a sale driven entity but instead also take into account the more human nature of it's consumers.

Week #12- The Purpose of Advertising

Advertising is a form of communication from a sponsor or source that draws attention to ideas, goods, or services. The majority of the advertising is directed towards groups rather than individuals and delivered through the media that group of people would most likely use in order to create the most effective impact on them. There are a lot of factors that make make advertising more or less effective, often times revolving around what the group of people have in common. Often times there is also a need to

There are many reasons why a business would invest money and time into advertising a product, service, or cause. There are three main reason that summarize the overall goal of advertising for businesses:

1. Informative Advertising
• Creates awareness of brands, products, services, and ideas.
• It announces new products and programs which can as a result educate people about the attributes and benefits of new or established products the company has to offer.
2. Persuasive Advertising 
• The overall goal is to attempt to convince customers a company's services or products are one of the best on the market.
• It attempts to influence consumer to take action and switch brands, try a new products, or simply continue to be loyal to that particular brand.
3. Reminder Advertising 
• Simply reminds people about the need for a product or services, the features that makes it unique, and the benefits it will provide when purchases as soon as possible.

Week #11- Ethical Marketing

Marketing is a major part of business in order to plan and execute a plan to not just promote but also generate sales for a business. Since marketing is seen in nearly every aspect of our lives, it is imperative to have at least some guidelines to follow whenever creating a marketing plan in order to prevent any backlash from the public as well as have mutual respect anyone that views the advertisement.

Just like any career in business, it is important to have a strong background in ethics. As many know, most of ethics revolved around the discussion of values and how to approach different scenarios that may conflict with company and personal beliefs. In order to reconcile for these varying views, most marketer approach the varying scenarios using a utilitarian way of thinking. In that approach, the overall goal of a marketer is to create the greatest good and happiness for the majority.

The best way of thinking of it is "does our product or service result in greater harm than good?" It is also important to inform those who are in charge of the potential impact, whether positive or negative, in order to change the approach or keep it that way. If at some point it is unethical or the ethical impact is not strong enough, it is imperative to communicate those ideas in order to make others understand why it's wrong.

Week #10- Instagram Ads

There are millions of people using Instagram every day, engaging in all sorts of posts and stories that their favorite influencers post. Rather than just using it to engage with the followers, many companies are using this platform to advertise the various products and services they have to offer through Instagram ads.

Instagram ads is a way for businesses to not just market what they have to offer to a select demographic, they can view and monitor their engagements and profile visits throughout the day also have the options to direct the customers directly to the company website. Since Facebook does own Instagram since it acquired it back in 2013, the ads work similar to Facebook. Depending on the budget the company has available, they can target hundreds of thousands of people to their business through the ads and as a result increase sales.

There are various ways to present the ads to the audience. Whether it is story, photo, video, carousel, or collection ads, they will each advertise the product, service, or event that is trying to get exposure. The most crucial part about using this feature is figuring out which is the most effective to get the audience's attention. From there you simply choose the demographic, upload the post or story, and then pay the budgeted advertisement.