Problems in the Marketing Industry

Problems in the Marketing Industry

Marketing is essential in increasing an organization or brand’s sales and profit. According to Peter & Donnelly (2019), effective marketing starts with recognizing customer needs and devising products and services that meet those needs. However, there are various marketing problems that should be addressed for marketing to be effective. One of the problems is generating and using insight to shape marketing practice. According to Jaworski et al. (2023), Big Data creates a challenge to distinguish between insight, knowledge, and data because knowledge and data are rapidly growing, and actual insight is not. Therefore, marketers are unable to use the knowledge and data they have about their customers to understand their customers’ needs and preferences.

This challenge could impact my ability to get a good entry-level position and advance my marketing career by limiting my ability to apply Big Data analytics to increase an organization’s or brand’s sales. Big Data analytics is among the main trends in marketing that many organizations are considering when hiring marketing agents. Therefore, a lack of knowledge and expertise in Big Data analytics limits my competitive advantage in the marketing job market, thus affecting my career advancement. However, I can turn the problem into a personal opportunity to succeed and excel in the job market by learning how to use customer analytics tools and software that interpret Big Data to get a better understanding and interpretation of customer behaviors, data, and feedback so that I can help organizations improve their customer support and product development. For example, I can learn how to use Hotjar, a customer analytics tool that makes it easy to determine how customers interact with a product or service.

The second marketing problem that should be addressed for effective marketing is competing in dynamic, global markets. Competing in dynamic, global markets requires adopting marketing strategies that can reach customers in different geographical regions and accommodate their cultural values and beliefs to prevent issues that may harm an organization’s reputation. According to Hatty (2018), the main marketing strategies used by global organizations include aligning product and corporate marketing, greater use of external resources in foreign markets, social media, short films, video and traditional media, personalization, brand acquisition, and thought leadership. The potential effect that the problem of competing in dynamic, global markets has on the ability to get a good entry-level position and advance a marketing career is limiting my ability to align marketing activities with various cultural beliefs and values because I may not be familiar with the cultural values and beliefs of the potential customers in the foreign markets. However, I can turn this problem into a personal opportunity to succeed and excel in the job market by relocating to a foreign country and working as an expatriate to enhance my experience working in a diverse workplace.

References

Hatty, H. (2018, February 22). Competing in dynamic, Global Markets. AMA San Diego. https://sdama.org/knowledge/competing-in-dynamic-global-markets/

Jaworski, B., Malcolm, R., & Morgan, N. A. (2023, March 7). 7 big problems in the marketing industry. American Marketing Association. https://www.ama.org/marketing-news/7-big-problems-in-the-marketing-industry/

Peter, J. P., & Donnelly, J. H. (2019). A preface to Marketing Management. McGraw-Hill Education.

ORDER A PLAGIARISM-FREE PAPER HERE

We’ll write everything from scratch

---

Using information from “7 Big Problems in the Marketing Industry” located in the Topic 7 Resources, identify two of the seven problems and address the following in 300-350 words:

Briefly describe your two selected problems.
Evaluate each in terms of the potential effects on your ability to get a good entry-level position and/or to advance in a marketing career.
Address how each of the problems can be turned into a personal opportunity to succeed and excel in the job market.
Consult the Wall Street Journal and find at least one example that supports your position and findings.