Which concepts are important in maketing academic field?

The concept of marketing basically involves activities in numerous domains, which change our day to day life. Economics, science, society or politics are all associated with business. As for the marketing in the academic field there are some important lessons for students to study.

First and foremost, the comprehension of consumer behavior is inseparable from the marketing field. Marketing is all about buying and selling. Knowing consumer behavior can help people get a better understanding of how the purchasing decisions are made, leading to, building marketing plans and planning strategies for the product and service to successfully cater for different customer demands.

In my view another aspect of the marketing field is cultural awareness. Thanks to the impact of globalization, marketing opportunities are increasing faster than ever. For the purpose of extending an organizations’ marketing opportunity in global areas, knowing each local laws, rules and customs will help an organization to be better aware of which business model is most suitable in an area. More precisely, customizing business in different areas is needed as every region has different culture and customs.

Furthermore, the skill of managing competition is part of the marketing field. Learning how to handle rivals and cope with the relationship between a firm's role and the competitive environment can help companies create their competitive advantage successfully. By this I mean people will know how to adjust their business plans and strategies to distinguish their target of market from others.

An understanding of all of the above aspects is,in my perspective, needed for students who study in marketing.