Question

Reflect upon the course and provide a brief summary of the topics/concepts that you found most interesting and relevant to your career. Does any of the material need to be addressed more thoroughly or clarified?

Please list references.

Answer 1

From my intro to Marketing class, I have been able to comprehend the actual concept of Marketing. I now know that Marketing is such an activity that comprises of creation of a product or a service to be offered in a market, communicating the same through various media of communications such as promotions and consecutively delivering the same to the consumers, patients or clients in a certain exchange for the offerings. The coverage of this activity needs to create value for the customers in exchange of these offerings. The concept largely takes into consideration the needs, wants and demands of the consumers and accordingly attempts to achieve the Organizational goals.

What surprised me the most is that Market-driven business and is the same as the business that markets are actually not the same thing. In certain businesses, the overall production capacity of the Firm is not significant for driving the business. Instead the current trends in the market or the customer’s demands influence the existence and running of such businesses. Hence those businesses are called as market-driven business. Such business rather incorporates the market trends as its Corporate strategy itself to survive in the competition more efficiently. It differs from the business those markets in the sense that the latter has the potential to influence the trends in the market by offering distinguished and unique products that compels the consumers to ponder upon it and gradually convert the thinking into a definite purchasing action. Therefore, a business that markets has convincing skills to avail a desirable reaction of the market itself.

SWOT analysis has been a simple yet a very significant topic in marketing. This is my favorite too. SWOT analysis identifies strengths, weaknesses, opportunities, and threats of a Company with relation to itself as well as to the outside world that influences the very survival of the business of a Company. While the first two elements of the SWOT helps in analyzing the internal aspects of the Company such as the Company’s own strengths and weaknesses while the next two elements look into the external aspect of the Company that is the outside stakeholders or circumstances that may have an influence over the business.

There was an assignment given on Amazon Organization’s marketing strategy. It was a very interesting topic and in many aspects, an eye-opener. This assignment helped me further connect my concepts to the application. This was my favorite assignment hence.

I think we need to have further role plays and simulations right from the basic class of marketing to make the learning even more fun. This is the only material that has not been thoroughly addressed in the class.