Marketing is all about understanding people.
This is probably my key take-away from the course. Through the analysis of several firms and their promotional campaigns, I got a better insight in why it’s important to understand the customers “wants” and “needs”.
I think the group assignment was interesting. The three stage process gave us the ability to look at the firm multiple times, instead of just having a final paper, where most of the workload would have been done in perhaps a hasted manner. Furthermore I appreciate Sauder’s approach to teach students alternative skills, such as video editing and so forth, and force us to tap more into the right hemisphere of our brain.
That said, I find it crucial to point out that group work was far from optimal, and by this I mean that the group synergy was poor. Having now five and a half years of upper education in my backpack I believe I have seen my fair share of assignments/tasks/projects. Over the years, my understanding was that a team becomes stronger by pooling the resources of all the members, and emphasise the qualities of each team member. Diversity in educational and professional background offer a wider variety of perceptions and help push the project to a higher level. Still, this was not applicable in our group. Instead, I feel like some of our group members had a very individualistic approach and wanted to strive as individuals within the group instead of making it more of a shared experience. Often times, it was unacceptable to approach the idea at a different angle, and decisions were not open to constructive discussion but instead were just the way to do it, “because that’s the way to do it”.
Which convinced me to check it out. What amazed me most about this illustration, was that many of the brands portrayed actually were owned by groups, whereas in my mind they were independent firms. Brands such as BOSS, San Pelegrino or even Pringles. What’s also interesting in this illustration, is to see that all these 10 major groups all follow the same growth strategy at the bigger scale, namely diversifying their portfolio through width and depth of marketing mix (though only the former is depicted in the above illustration).
