Article 1: Blue Ocean Strategy
- What about the article was particularly meaningful, or stood out to, you?
- From your past marketing classes, what marketing concepts does the article support or contradict?
Article 2: The Female Economy
- What about the article was particularly meaningful, or stood out to, you?
- From your past marketing classes, what marketing concepts does the article support or contradict?
Article 3: A BEGINNER’S GUIDE TO RETARGETING
https://www.websitehostingrating.com/retargeting-beginners-guide/
- What about the article was particularly meaningful, or stood out to, you?
- From your past marketing classes, what marketing concepts does the article support or contradict?
*Just write the responses, no need to include the questions.
Question 1
In this article, I found the comparison between the blue ocean strategy and the red ocean strategy meaningful. Companies can realize if they use the blue ocean strategy or the read ocean strategy depending on their activities and interests. As described in the article, the blue ocean strategy creates an uncontested marketing space and competition irrelevant. Using the blue ocean strategy, companies also find themselves creating and capturing new demands, breaking the cost of trade-offs, and aligning an organization’s system to low-cost and differentiation strategies. The red ocean strategy focuses on competing in an existing market space, beating competition, exploiting current demand, and aligning their entire system differentiation and low-cost activities.
Question 2
The article focuses on high-performance sustenance through the blue ocean strategy. According to the article, businesses must understand two kinds of universal spaces, including the red space and the blue space. While many companies focus on the red space, the blue space remains largely unexplored and uncontested. Contesting the blue ocean strategy can help companies gain a high-performance edge, helping them grow rapidly and improve profits tremendously. However, for an organization to improve its performance, it has to use its red ocean strategy to create a blue ocean strategy and compete in uncontested space.
Article 2: The Female Economy
Question 1
In this article, I took a keen interest in the discussion regarding a future of parity, power, and influence. In this section, the author points out women are likely to represent a larger percentage of the workforce in the future. As they will increase their skills and hold more positions of power, this group of consumers will strengthen their consumption power. The article adds that should companies wake to female consumers’ consumption power, they will unlock various new products with high demand. As they will improve their brand power, they serve this consumer group’s physical and emotional needs.
Question 2
The article addresses business marketing opportunities and ways of growing. Specifically, it claims that women feel undervalued and underserved with workplaces and businesses ignoring their skills, input, and needs. However, according to the article, many businesses disregard female consumers’ consumption power and have so much to learn about selling to women. If businesses unlock the power of female consumers and sell to them directly, they can unlock economic opportunities to grow, improve their market share, and become highly profitable. The article supports female consumers’ economic power by pointing out that this group represents the largest market opportunity compared to China and India combined and needs serious exploration.
Article 3: A Beginner’s Guide to Retargeting
Question 1
In this article, I found the functions of retargeting useful and meaningful. Whereas retargeting helps organizations squeeze Return on Investment (ROI) from visitors, it serves many other useful functions to help businesses grow. For instance, a business can change one-time customers into repeat customers through retargeting and reach out to unresponsive consumers. Every business strives to create loyal customers and receive feedback from customers. As retargeting fulfills these needs, it seems the best-placed method to improve ROI. Retargeting also helps organizations upsell and cross-sell, improve brand rating at the top, and reach customers on their devices.
Question 2
Every business seeks to improve its ROI. As this article discusses ways organizations can improve their ROI, it touches on the ROI classroom concept. It agrees that all organizations must strive to remain profitable and keep out all sources of revenue loss. According to the article, businesses can strengthen their ROI by keeping in touch with customers, enhancing their loyalty, and polishing their relationship with customers. By improving this relationship, an organization will increase market share, resulting in increased ROI.
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