GELA L.

VILLADAREZ

MBA 221 – SYNTHESIS PAPER

Life after Covid 19 will never be the same. In education, work, leisure and businesses.

We are in a new normal setting. The things that we used to do will never be the same again.

In every disaster, there should always be a recovery plan to be able to function again and

be better. In business there are quite a few marketing strategies to rebuild business. Effective

marketing starts with a considered, well-informed marketing strategy. A good marketing strategy

helps you define clear, realistic and measurable marketing objectives for your business.

Your marketing strategy affects the way you run your business, so it should be planned

and developed in consultation with your team

Your well-developed marketing strategy in the transformed business environment will

help you realize your business's goals and focus on the actions required to reach the right

customers.

With the help of the strategic marketing in the transformed business environment you’ll

be able to cope up with the new normal setting. A business environment, change may not always

be welcomed but it is expected. Changes in the business environment happen all the time.
 As the saying goes “The only constant thing in the world is change”. Despite the changes

we should always find ways to blend to the ways of the new normal and live life the way we

wanted.

Here are some highlights of the things I have learned from my colleagues this semester.

Every firm must organize and distribute a continuous flow of information to its marketing

managers. A marketing information system (MIS) consists of people, equipment, and procedures

to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to

marketing decision makers. It relies on internal company records, marketing intelligence

activities, and marketing research. Companies organize their information into customer, product,

and salesperson databases—and then combine their data. The customer database will contain

every customer’s name, address, past transactions, and sometimes even demographics and

psychographics (activities, interests, an opinions). Instead of sending a mass “carpet bombing”

mailing of a new offer to every customer in its database, a company will rank its customers

according to factors such as purchase recency, frequency, and monetary value (RFM) and send

the offer to only the highest-scoring customers. Besides saving on mailing expenses, such

manipulation of data can often achieve a double-digit response rate. Companies make these data

easily accessible to their decision makers. Analysts can “mine” the data and garner fresh insights

into neglected customer segments, recent customer trends, and other useful information.

Managers can cross-tabulate customer information with product and salesperson information to
yield still-deeper insights. Using in-house technology, Wells Fargo can track and analyze every

bank transaction made by its 10 million retail customers—whether at ATMs, at bank branches,

or online. When it combines transaction data with personal information provided by customers,

Wells Fargo can come up with targeted offerings to coincide with a customer’s lifechanging

event. A marketing intelligence system is a set of procedures and sources that managers use to

obtain everyday information about developments in the marketing environment. The internal

records system supplies results data, but the marketing intelligence system supplies happenings

data. Marketing managers collect marketing intelligence in a variety of different ways, such as

by reading books, newspapers, and trade publications; talking to customers, suppliers, and

distributors; monitoring social media on the Internet; and meeting with other company managers.

I have also learned Marketing is a social process by which individuals and groups obtain

what they need and want through creating, offering, and exchanging products and services of

value freely with others. As a managerial definition, Marketing has often described as “the art of

selling products. According to Peter Drucker, a leading management theorist says that “the aim

of marketing is to make superfluous. To know and understand the customer so well that the

product or service fits him and sells itself. Ideally, marketing should result in a customer who is

ready to buy.” A marketer can rarely satisfy everyone in a market. Not everyone likes the same

softdrink, automobile and movie. Therefore, marketer start with market segmentation in where

they identify and profile distinct groups of buyers who might prefer or require varying products
and marketing mixes. Market segment can be identified by examining demographic (age, gender,

civil status), psychographic (customization for specific target), and behavioral differences among

buyers. The firm then decides which segments present the greatest opportunity.

For each chosen target market, the firm develops a market offering. The offering is

positioned in the minds of the target buyers as delivering some central benefit/s. For example,

Volvo develops cars for the target markets of buyers whom automobile safety is a major concern.

Therefore, Volvo positions its car as the safest a customer can buy.

Traditionally, a “market” was a physical place where buyers and sellers gathered to

exchange goods. Now, marketers view the sellers as the industry and the buyers as the market.

The seller sends goods and services and communications (thru ads, direct mail, e-mail messages)

to the market; in return they receive money and information (attitudes, sales data). Lastly, I

learned that brand equity is the level of sway a brand name has in the minds of consumers, and

the value of having a brand that is identifiable and well thought of. Organizations establish brand

equity by creating positive experiences that entice consumers to continue purchasing from them

over competitors who make similar products. Brand equity is typically attained by generating

awareness through campaigns that speak to target-consumer values, delivering on promises and

qualifications when consumers use the product, and loyalty and retention efforts. There are

obvious payoffs to establishing brand equity, but it takes a lot of work and research upfront to
build and maintain this status. It begins with conducting research into the values and needs of a

target audience, as well as identifying what makes your brand different. Once established,

organizations must continue to spread awareness to earn new business, while fostering loyalty

among existing customers. Due to the rise of social media and the individual consumer’s voice,

brands are no longer just defined by what advertisements say. Brands are what consumers

discuss or perceive. Having a focus on the customer and putting them in the center of your

company will help elevate your overall brand. Consider Amazon’s review system. The site

encourages users to be active in reviewing products and communicating with sellers to ensure

they get exactly what they need - rather than just making a sale. Brand equity can seem like and

abstract concept that is difficult to measure or quantify. Depending on the goals of your branding

efforts, there are multiple methods that can be used to measure equity through brand tracking

efforts. The shifting focus to the consumer means that organizations must actively think about

the brand image they are creating for themselves, as well as how each action and initiative

contributes to overall brand awareness and perception. Through solutions such as Marketing

Evolution’s brand optimization, organizations can gain insight into what makes its brand

resonate with customers. Equipped with this information, marketing teams can make strategic,

data-driven decisions about how to optimize future strategies designed to build brand equity and

drive ROI.