MarketingThe marketing concept is an organization discovering and satisfying the needs of customers.
The marketing mix is an organization controlling certain aspects of a company to persuade customers to purchase their product, which consists of four components: price, product, promotion, and place.Marketing is promoting and selling products or services, and sales is exchanging a product or service for monetary value. Marketing and sales can easily be viewed as dependent upon one another. Marketing affects the rate of sales, if marketing did not take place sales would suffer. Marketing informs customers about the details of a product/service before purchase, in return; no sales means pointless investments in the marketing research and advertisement. McDonald’s is an example of an organization that uses both marketing concept and the 4P components. The company targets multiple age groups: children, adults and elders, and they have locations all over the world. Marketing plays a leading role in communicating plans regarding lending projects to help manage the church.
Marketing helps develop and maintain committees in the church. However, churches are non-profit organizations and the marketing that the church utilizes is generally not for monetary gain but spiritual gain. Marketing aims to reach as many people as possible and offer something beneficial. Similarly, churches reach out to those who are lost and offer teachings of the gospel that gives them the gift of salvation.The different age groups that companies target are generational cohorts, people whom share birth years, common history and values. There are three generational cohorts: Baby boomers, Generation X, and Generation Y.
Research conducted on generational shopping behaviors explains, “Marketing has long relied on the use of market segmentation. While birth age has been a useful way to create groups, it describes segments but does not help to understand segment motivations. However, environmental events experienced during one’s coming of age create values that remain relatively unchanged throughout one’s life.” (Parment, 2013) Baby boomers were born between 1946 and 1964 and are retiring at a rate of 10,000 people every 24 hours. Generation X were born between 1965 and 1976 and value self-reliance and higher education. Lastly, Generation Y were born between 1977 and 1994, known as the millennials, this generation is the generation of baby boomers having children.
Companies target specific audiences when marketing their product. For example, Transamerica provides advertisement that directly reaches the baby boomer generations because the company offers insurance and retirement options. The baby boomer generation is of the age to consider retirement and insurance options. Advertising in marketing establishes the targeted audience and use different types of marketing concepts to draw in the age groups of people that their product or service offers. Scripture proves that regardless of the generation, Jesus does not change. Explained in Hebrews 13:8, “Jesus Christ is the same yesterday and today and forever.” (ESV) Christ remains constant even when times and values of generations change, His love remains the same. ReferencesParment, A.
(2013). Generation Y vs. Baby Boomers: Shopping behavior, buyer involvement and implications for retailing. Journal of Retailing and Consumer Services, 20(2), 189-199. Retrieved 1 25, 2018, from http://sciencedirect.com/science/article/pii/s096969891200149x