Week 3 - MBA 6101 – Guerrilla Marketing

 One interesting text to circle back to was reading Guerrilla Marketing. According to the reading, they tell you to start and have commit to a plan that has a real-life story that has been added to properly catch the attention of the customers and captivate them to further look into the plan made. The story alone will have people to be invested as they can have an understanding of what sparked the motivation behind the individual who started his journey on piloting a product. Another thing these stories do is add the mission of the company, the purpose of the company’s existence, the solution they are trying to present themselves as and more. 

I came across a lot of videos on what sparks the ideas for certain businesses to make the first step towards innovation. One thing that sparks these plans is the need to solve a common issue in consumers, because one huge determination for whether a brand has success is if they provide a solution like feeling to the consumers who have a ‘problem’. Another video showed two companies merging because both companies were experts at providing an element of service unto their customers but both felt they were unable to provide the most efficient resources separately, and thus merged to create a better company with more specialties. 

Supposedly it is said that the more markets you aim to target, the more profits that can potentially be earned. There are four \ markets that have more recently emerged: Women, older people(seniors, ethnic groups, and small businesses. The seniors/Older people are high priorities in order of health, relationship with God, and financial security, and and their aim is to connect with family and friends. Results show women are starting up close to half of new businesses and have a higher success rate than men. Lastly, the Small businesses are a fast-growing market making up over 85% of all businesses.

Another thing this reading taught me was that before entering into a business, it would be wise to use the seven-sentence marketing strategy. This should include the purpose of marketing, marketing weapons, target markets, niches of the business, and positions of the business, clarification on where the business stands for certain topics, identity of the business, and the estimation of budget. Things will get tough and it will not be an easy journey, but it’s all the more reason to stick to the marketing strategy. One thing that I also take into account is the market is always changing, competition will never quit, people forget, and marketing builds presence and identity. Really marketing is the essential need for your business to survive and grow because it allows you to keep your current customers, keep business going, maintain a level of morale, and give an advantage for those who left the market while those who left early are succeptable to loss of time/effort.