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Personal Development Plan:
Second Submission – Reflection
Student’s Name
Date
Personal Development Plan: Second Submission – Reflection
Introduction
In this module, the paper’s discussion entails a critical reflection of views addressing marketing perspectives on personal and professional experiences. Also, the article puts emphasis to the consideration of relevant marketing knowledge as a substantial ideal to maintain sharp and open innovative ideas that can elevate marketing of the projected company higher. In turn, for professional and personal experiences in marketing plays a profound role in enhancing the competitive advantage of the host company. Professional markets are tasked with creating innovate ways of branding the company’s products to the customers, in turn, increase the sales volumes and customer loyalty.
Therefore, this module emphasizes on building from the prior knowledge of the personal development plan and accelerates its gains on personal perspectives and assumptions of marketing, strategies to achieve the key growth plans, and identifying areas that need potential growth and development.
Personal Perspectives and Assumptions
As the prior personal perspectives development plan asserts the significance of marketing perspectives in inducing understanding of critical insights to the existing market gaps that organization can take advantage of and utilize, this section accelerates the value addition of marketing perspectives as the playground of companies’ operations. The creativity of marketing strategies is an essential component of ensuring success of the organization’s operations and approach to markets (Alvarez et al., 2010). The ability to understand various perspectives and assumptions of market knowledge gives individuals an opportunity to improve their professionalism. In turn, marketing professionalism is a strategic approach that companies invest in order to equip their personnel with adequate knowledge of the contemporary market trends to induce the right moves that can be beneficial to the organization.
The value of understanding marketing goes hand in hand with identifying the segmentations, targeting creativity, and positioning of the company. The three concepts complement each other by working in collaboration to achieve a common goal of marketing perspectives and assumptions. The segmentation concept in marketing perspective gives professional approach to scrutinizing the needs of particular groups of the society and linking to specific products elevating the essence of improving the products to the segment’s specifications. The target approach enhances the marketing capacity to value their customers and facilitate quality development. Thereby, assisting the company to position itself in the market and increase its competitiveness strategically.
How Current Practice Relates to Key Module Topics
The marketing approaches vary significantly depending on the industry of sectors’ diversities and dynamically controlling the level of competitiveness. The industry’s level of competitiveness has profound influence the market practices in the contemporary times. The impact is cognizant “market orientation, marketing practices, and business performance” (Lado et al., 2013). The market orientation is a fundamental entity in controlling the current market practices which emphasize improving the efficiency and effectiveness of respective company’s ability of marketing strategies based on the resources – finances, professional expertise, and efficient leadership. In turn, the approach puts the company on the radar of accelerated growth and enhanced business performance.
Additionally, the current marketing and business practices perspectives are ones that are highly reliant on the use of technology. As business continues to expand global reach, the current business and marketing practices are cognitive to the fact that globalization is the future of business and marketing practices. For example, for a company like Adidas, Nike, Rebook, Gucci, among others in fashion and shoe production, must elevate the intellectualism of the globalization concept in the approach to the markets. In turn, facilitate their operations and market expansion to global levels (Appiah-Adu & Singh, 2008).
Identifying Strategies to Achieve Your Plans
The effort of identifying strategies to achieve one’s plans in marketing, it is critical to ensure the acquisition of advanced knowledge regarding the aspect. The existence of technology and the Internet has eased the knowledge acquisition approach to facilitate identifying the strategies to be induced in enhancing the achievement of personal plans. A professional market ought to have a clear understanding of the resource utilization, budgeting, and timely functioning to achieve the intended results with the context provided. As well, there is an enormous importance to prioritize issues effective to ensure commitment of resources towards the most influential strategic approaches.
Moreover, the achievement of prioritized plans is confined in the technology used as it continues to be of profound influence in marketing. The use of technology cannot be ignored in marketing as it is a fundamental component of identifying strategies for professional marketers to achieve their plans. For example, in the context of reaching the global market and different target segments across the world, the strategic approach entails the technology used, e.g., use of social media or organization’s – product application to acquire and compile the consumers’ feedback. In turn, improve the quality of the product with a focus on the respective target segment of the market. Thereby, significantly enhancing the achievement of the strategic marketing plans.
Identifying Areas of Personal Development and Growth
The process of identifying areas of personal development and growth in marketing perspectives and assumptions entails remaining up-to-date with the market issues. In a consistent approach, it involves an understanding of the current market trends that can facilitate the acquisition of data and information to be utilized to enhance the prediction of the future market and business performance (Vargo & Lusch, 2008). The products’ specification is essential to be aligned to the consumers’ desires in order to remain relevant and advance as those desires develop. This allows personal development and growth to improve and vary in line with the market behaviors.
Finally, it is crucial for professional marketers to be able to identify areas of personal deficits and weakness demanding some input to project better performance. Therefore, individuals ought to be well-equipped with technological advancements used in controlling market trends in the contemporary times (Vargo & Lusch, 2008). Similarly, the evolving of market logic must be in conciseness to the professional functioning to adding value in marketing strategies of the company. In turn, this presents an opportunity to identify areas requiring some inputs to add their functioning capacity. Hence, contribute to personal growth and development.
References
Alvarez Bassi, D., Duque, L. C., & Lado, N. (2010). Current marketing practices and market orientation in the context of an emerging economy: the case of Uruguay (No. wb104207). Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
Appiah-Adu, K., & Singh, S. (2008). The Current Marketing Practices in Ghana. In Business Practices in Emerging and Re-Emerging Markets (pp. 153-165). Palgrave Macmillan US.
Lado, N., Duque, L. C., & Alvarez Bassi, D. (2013). Current marketing practices and market orientation in the context of an emerging economy: the case of Uruguay. Journal of Small Business Management, 51(4), 602-616.
Vargo, S. L., & Lusch, R. F. (2004). Evolving to a new dominant logic for marketing. Journal of Marketing, 68(1), 1-17.
