Question

Write a two to three page reflection paper summarizing what you learned about marketing in this class. Your paper should include the following:

• Write a brief summary of the topics that were covered in this class. What types of online activities were conducted (marketing simulation, hands-on, role-playing, debates, discussions, etc.)? What steps did you take to participate in these activities? What academic skills did this assignment require you to demonstrate?
• What was your level of participation in class? What were your strengths in completing these activities? What were your challenges? How will you overcome these types of challenges in the future?
• Identify at least one thing that you have learned that you will take with you from this course.
• Identify the chapter or activity that had the greatest impact on your view of marketing. Why/ how was this important to you? Include how your view of marketing has changed.

Answer 1

In one sentance it can be said that, Marketing is a management of exchanging relationships. Market is fundamentally related with Business Management yet it likewise interfaces with different tasks or exercises like creation, correspondence, convey, exchange, bookkeeping, law and other lawful viewpoints.The Chartered Institute of Marketing determines marketing as the management process responsible for identifying, anticipating and satisfying customer requirements profitably.

Under the marketing perspective there are some major orientations, those are as follows:

1. Product Orientation: When a firm concerns with the quality of its own product formation then it would be called Product orientation.

2. Sales Orientation: A firm uses a sales orientation technique to focus primarily on the selling or promotion of a particular product, and do not give preference to new consumer desires as such. Consequently, this means the firm simply sells an already existing product, and use promotion techniques to accomplish the highest sales possible.

3. Marketig Orientation: This is one of the common orientation that can seen most of the time. This involves firms to take decisions about their market procedures, which pproduct and how much of a pproduct should supply etc.

4. Customer orientation:  In the market economy a particular firm can survive by producing goods and services that people are willing and able to buy. Accordingly, determining consumer demand is very much important for a firm's future viability and even existence as a going vexation.

5. Organizational orientation: In this sub-part, sometimes a firm's marketing department is seen as of premier importance within the functional level of an organization.

In early 1960s, Professor E. Jerome McCarthy, at the Michigan State University suggested that the Marketing Mix contained 4 elements: product, price, place and promotion.(4Ps).

Product: The product expressions of marketing handle with the specifications of the actual goods or services, and how it relates to the end-user's requirements and desires.

Price: The procedure of setting price for each product with discount.

Place: This sub-point implies how consumer gets the product. For example, point-of-sale placement or retailing.

Promotion: This includes advertising, sales promotion, including promotional education, publicity, and personal selling. Branding etc that promotes each brand or company for becoming popular and easily go towards the customer.

The activity that had the greatest impact on your view of marketing is Role of customers in Marketing :

We have expressed that the focal reason for marketing is to enable associations to recognize, fulfill, and hold their clients. These three exercises lay the basis for what has gotten a vital basic in present day marketing: client relationship the executives.

To an understudy of marketing in the advanced age, the possibility of relationship working among clients and organizations may appear glaringly evident and ordinary. It unquestionably is a characteristic outgrowth of the marketing idea, which arranges whole associations around comprehension and tending to client needs. Be that as it may, just in late decades has innovation made it workable for organizations to catch and use data about their clients to such an incredible degree and in such significant manners. The Internet and advanced web based life have made new stages for clients and item suppliers to discover and speak with each other. Subsequently, there are more instruments now than any time in recent memory to help organizations make, keep up, and oversee client connections.

Client tributes and proposals have consistently been incredible marketing devices. They frequently work to convince new clients to check out something. In the present computerized media scene there is phenomenal open door for organizations to connect with clients as believable promoters. At the point when associations put resources into building solid client connections, these exercises become especially productive.

For instance, specialist co-ops like restaurateurs, physical advisors, and dental specialists much of the time ask standard benefactors and patients to compose surveys about their genuine encounters on famous suggestion destinations like Yelp and Google+. Item suppliers do likewise on locales like Amazon and CNET.com. Despite the fact that organizations chance getting a terrible audit, they normally acquire by outfitting the solid voices and genuine encounters of clients they have served. In this procedure they likewise increase significant criticism about what's working or not working for their clients. Utilizing this info, they can retool their items or way to deal with better match what clients need and improve business after some time.

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