No matter the industry, marketing involves everything a company does to get products in the hands of customers. The bottom line is, if you don’t market your product or service, you’re not going to have revenue. Marketing is everything a customer sees, from retail packaging to a company’s social media posts, and all external elements in between. Creating a strategy for allocating resources – like time and money – to meet your objectives is what marketing is all about.
More of today’s students are pursuing marketing rather than management educations at higher-learning institutions because they recognize it has become a key part of business and personal success. Learning the ins and outs of marketing teaches young, aspiring professionals how to make money for the organizations they work for and for themselves.
Just as marketing and sales are no longer equivalent, companies should recognize that marketing isn’t only a department – all members of the team should understand how to build a brand to achieve growth for the organization and to strengthen their professional success.
Professor Yong Wang, Associate Professor of Marketing at Ohio University, returns to Ditch The Box to explain how marketing education has changed and why students should embrace success-driven learning.
Setting a goal is the first step toward creating a plan to achieve it. The business world is full of aggressive people who will run you over to get what they want, and having a success mindset early in life is key to preparing for changes and meeting challenges in the professional world.
Wang teaches his students experience-based learning, which allows students to transform into qualified professionals through real-life experiences. Selling to major retailers is top of mind for many producers, and actually getting in front of these companies helps students learn how to pitch a product and market it so it is embraced by big-name stores and customers alike.
Wang also discusses why we must look past the global supply chain for goods and services and consider resources beyond what we can find in our own neighborhoods. There are many misconceptions about buying products from China, but having the right representatives on your team who understand the culture, people, and language is key to successfully communicating with manufacturers and articulating what your company wants and needs.
People often firmly decide they will only purchase products from the U.S. – while talking on a iPhone made overseas and driving in a foreign car, mind you – because they assume the quality of goods will be lower outside of their home country. If you’re saying everything from China is bad, then you’re also declaring all products from the U.S. are good.
We know quality of goods and services can range no matter the location. Education and understanding is key to doing good business both overseas and within your organization. Instead of making assumptions and relying on old myths and misinformation, getting in the trenches can help you get the best results and find success as both a producer and consumer.