Over the course of this short summer semester, we have learned many valuable marketing skills. As a result of this, I feel comfortable and confident in my ability to create a marketing strategy. It is my opinion that the course load over this semester has allowed me to fully gain knowledge within the eleven course outcomes.
The first course outcome is the ability to use appropriate terminology to communicate with marketing specialists and others about marketing concepts. We have absolutely increased our marketing vocabulary over the course of the semester, and I feel confident in my ability to elaborate on several marketing terms and concepts. This entire blog has provided several examples of my ability to communicate effectively about marketing concepts.
The second outcome is the ability to understand more clearly how marketing affects you as a consumer and how you influence marketing practices. Marketing is really just the ability to understand and influence the consumer. Marketing influences me as a consumer by identifying and meeting my needs. I, as the consumer, have the ability to influence marketing because based on the Four C’s. Marketers have switched gears and become more focused on meeting consumer needs. When the consumer preferences and needs change, marketers must adjust to make sure those needs and wants are met.
Another outcome of this course was gaining the ability to identify and interpret changes in the environment which affect marketing activities. Business marketing can absolutely be impacted by environmental changes that are out of their control. These environmental factors are the economy, laws and government, supply lines, and consumer trends. Companies have no ability to control these factors, but they do have the ability to prepare themselves for these changes. By making themselves and their product flexible, they will be able to adapt to a changing economic climate.
Understanding the costs and benefits of marketing on society and on those involved in the marketing process is another course outcome. Marketing is essential to our economy. Without it, businesses cannot thrive, and consumers cannot know what products and services are available to them. Marketing is a very expensive industry, but the benefits far outweigh the costs. Marketing Is a way to stimulate sales and promote new technologies.