Chapter 3 - Highlights, summary

 Chapter 3

This Chapter of the book focused on more detail than the previous one and dissected what a marketing strategy is and which steps one needs to follow in order to market their product successfully. It also talks and informs us about what a marketing plan is and introduces us to many other tools that we can use. This type of exposure is great for students and others wanting to learn more as it shows them trains of thought and ways to solve problems or ease the workload that they perhaps did not think of previously. I want to highlight a few points when it comes to planning a marketing strategy and those are: identifying a target market, establishing goals and objectives, and analyzing.

    Identifying the target market is huge when it comes to all forms of marketing. The people are in the center of all decisions as they are the ones purchasing your product. Once you have established a target market you can look at their demographics to see tendencies and make informed decisions in the future. After doing so you can make choices such as if lowering or highering the price of a product will yield more or less revenue. Understanding your target market is huge, especially as this gives you more of an idea of what your target audience could look like. After this, you can find characteristics of this group and transform your marketing to highlight the things they like in order to promote reach and engagement. Establishing goals and objectives is a huge help when it comes to trying to reach any goal. And this also plays its role within Social Media Marketing. If one has a timeline with goals he will work harder to achieve it, also hand in hand customers will see this effort and consistency and feel more positive about the brand. Establishing a goal of the number of posts per week on a platform like TikTok for example is something you should consider as it keeps you disciplined. This in return can serve as analytics. You can look at what type of post, at what time, how many, etc. you did last week or month and see how small tweaks affect the broader picture. By analyzing and reinventing one can optimize the system and process of gaining clout and engagement in the best way possible.

    I believe there is a lot of common knowledge present in Marketing. Like, yes the customer is important, the type of content posted is key, etc. but the difference between okay and good marketers is that good marketers are able to continuously cycle through these "common knowledge" (thoughts and ideas) and connect them in different ways to separate themselves and find that niche. So when we do our Simternship I encourage you to think and apply things like the above as you will thank yourself later.