Marketing a Macro Perspective

Name

Marketing Management

MBA - Healthcare Management 

MG641 Lesson #1-1

date

Ashworth College

        Introduction:

        In relation to micro-marketing which study business decisions within a corporation to the demand of consumers. Macro-marketing focuses on the more significant part of the consumers as opposed to just people. The objective is to decide how to reach a mass market. This implies it puts more importance on viewpoints that go past the sizes of a smaller scale. Marketers currently are more progressively perceived, a firm approach that goes beyond conventional marketing to promoting ideas. This is the idea of all-encompassing marketing. Everything matters from single consumer behavior to the synergy external and internal resources within an organization and social responsibility. Macro-marketing can be a tool for a business to reach its competitive advantage towards a competitor; however, it also plays a barrier role because of its limitless spreading, whether it is good or bad.

        Opposing arguments - Individual Perspective

        Marketing realizes ones personal value, there is a need for individuals of society, and sometimes, fulfill a specific need that consumers may not know what they need. Moreover, with the development of technology, consumers do not need to spend time or resources to acquire the best quality and achieve satisfaction. Marketing in term of macro-marketing supply consumers with information they want about any product or services, consumers have the ability to choose from many alternatives and lastly, with competitive for market functions, supply individuals with competitive prices, product, and service. However, in some cases, information overload by marketing can be portrayed as a disadvantage for some consumers. Having numerous choices to choose from can confuse some consumers, and sometimes it can be a waste of money since consumer tend to buy products because of the marketing not because they need it.

        Business Perspective

        Great marketing strategies can act as a critical factor for a business to increase its brand awareness. Customers gain knowledge about an organization in its advertisement. A good advertiser provides a positive first impression for the customer towards a company. Moreover, with macro-marketing, organizations can appeal its products/ services to different target customers, organization reputation or status in market improved, and lastly, business objectives increase, and its gross revenue can be increased, increasing sales (McLeod, Insch, & Henry, 2011).

        Nonetheless, having a great marketing strategy to successfully executing, there are many costs associated. If a marketing plan is successful, business still can operate, but if it is not, it will be substantial financial losses for the industry. Moreover, it's not just about cost, it also about the time and financial cost of time. Completing a marketing plan within a deadline associated with a particular time for the demand for a product is always a critical task for marketing. Lastly, with the development of technology, especially social media, the speed of information spread reach its peak. The range of criticism about a business can be counted in just minutes, which causes many outcomes for a company (Myhal, Kang, & Murphy, 2008).