Monday, February 4, 2013

Response to Sean's Question: Is money the most important factor in marketing for businesses?


I agree with Sean’s connection to Coors Light beer. They try to market their product by the design of the can and how cold their beer is which any beer can achieve by putting them in the fridge. With other options in the same field a consumer is expected to pick a better tasting beer with better marketing skills attracting them to the product.

I think to an extent money is the most important factor in marketing because you can not market a product without money. But if the company comes up with a very creative way to market their product they have the ability to attract new customers who are impressed with their product, message, or the picture they envision. If the marketing is creative and catchy enough then only a small amount of money is needed to promote because the product and ideas speak for themselves.

It really is about how you attract the customers and how they feel buying a product that is most important rather than the money you spend marketing. Coors Light probably spends a lot of money putting out television advertisements for their beer and marketing their slogan "as cold as the Rockies”, but all the money spent putting their name out there wouldn’t make people purchase the beer if it doesn’t taste good, especially when there are other options. 

I was extremely disappointed with the Super Bowl commercials this year. All of those companies, etc. spent a ridiculous amount of money for a thirty second slot to be viewed nationwide, however, with the exception of a few, I was not interested in any of the products that were being advertised. This is an example of how money can not be more important over creative ideas and good marketing strategies. 

Do the majority of companies allot their resources properly between money spent on the actual marketing of a product and hiring employees to come up with a creative ideas? Do you think some businesses would still be in business today if they had better used their money and had more creative marketing to attract customers, or is this irrelevant depending on the product itself?

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