An interview is a vital stage in any professional’s life and how one handles an interview has a huge bearing on the recruitment outcome. One needs to be fully prepared for interviews and one prerequisite preparation is to conduct adequate research regarding the companies in question. As a marketing manager, there several opportunities open to me and gaining employment with companies like Apple, GE and bank of America would provide me with the kind of professional challenge that my education and past experience has prepared me for.
The first marketing opportunity that is open to most companies is to increase their range of products and gain access to a larger consumer base. Companies which have already proven that their products are of superior quality and their brand have gained wider recognition and acceptance can capitalize on this to market these new products. The risk here remains the possibility that this diversification might not prove profitable and management facet he wrath of investors who might feel that their money was not well invested. This kind of opportunity should be classified as a home run since though it holds immense potential to increase profitability, it also holds immense risk and negative ramifications incase of failure. For instance, Apple is currently the most profitable firm with its innovative range of products. Apple can create more products especially for the low end market since they make up the larger percentage especially at the global level. According to marketing minds (2012), Apple usually charges premium prices for its products due to its strong brand name.
Secondly, making products that are unique to their international target market and using adverts that appreciate the local diversity and uniqueness of the targeted people is another marketing opportunity which cuts across the corporate divide. This will translate to increased sales and loyalty among this market segment in a world which is increasingly becoming global. This strategy can be supported with increased outsourcing in order to customize products according to the local needs. The risk here might be compromising the attributes that defines one’s brand as one attempts to cater to the needs of all clients. This opportunity is a low hanging fruit. Take General electric for instance which is an American corporate giant specializing in various fields among them electronic goods, energy solutions and finance. The company has outsourced and opened factories in several parts of the world and strives to create products that are tuned to the needs of its target market regardless of region (Manu, 2012). This should also be informed by a review of what others are doing in order to match or surpass their success (Crowley, 2012). As stengel solutions (2012) puts it, “marketing should be consumer oriented at all times.”
Lastly, innovating existing products to make them better by eliminating processes that make them unattractive, inefficient or expensive is a solid way of attracting more customers. Rather than trying to come up with new products, a move which is generally expensive both in formulation and marketing; upgrading is less expensive both in effecting the change and in the marketing phase. The risk here is that some clients might not be convinced of any improvement in benefits and might not lure in more clients in the process. This strategy can be classified as a single. Let’s consider the Bank of America which is one of the largest banks in the USA and serves clients from all over the world (Editorial, 2012). The bank like many other might exercise leniency while dealing with defaulters and give them some room to try and meet their loan installments. The bank should go further and find ways of offering technical and capital infusion to some struggling debtors to get them back on their feet rather than engage in aggressive collection of the debt.
The three marketing opportunities can be employed in most companies to bring results. However, the one likely to increase profits significantly if well implemented include addressing the need of the target market during product creation and in the way those products are marketed.
Related Marketing essays
- Success of RIM
- Strategic Marketing
- Principles of Marketing
- Marketing Mix
- Marketing Apple Company
- Security Issues in Electronic Commerce
- Market Model Patterns of Change
- Vice Marketing and Paternalism
- International Marketing Strategies
- Importance of Reaching into New Global Markets