The Marketing Mind

  What I Learned from Chapters 3 & 4 – Marketing.      In Chapter 3, I learned that businesses need to watch what’s happening around them . This is called environmental scanning . There are five big outside forces that can affect how a company works: Social (people’s values, age, and lifestyle), Economic (money, income, inflation), Technological (new inventions), Competitive (what other businesses are doing), and Regulatory (laws and rules).      Companies must pay attention to these changes if they want to succeed. For example, more older people are living in the U.S. now, so companies might need to offer different products or services.      In Chapter 4, I learned about ethics and social responsibility . Ethics means doing what’s right and fair , not just what makes the most money. Some companies make bad choices to get more profit, but that can hurt people.      I also learned about the thr...

           Today is  Memorial Day , a U.S. holiday to honor all soldiers who died while serving in the military.      According to History.com , Memorial Day began after the Civil War and was first called Decoration Day . Families and communities decorated the graves of fallen soldiers with flowers, wreaths, and flags. In 1971, it became a national federal holiday.      The U.S. Embassy  explains that Memorial Day is more than just a day off. It is a time to reflect, remember, and say thank you to those who gave everything for the country. For many Americans, it’s a very emotional and personal day.      On Wikipedia , I found out that Memorial Day is also seen as the unofficial start of summer in the U.S. Many people enjoy barbecues, beach trips, or family time—but still pause to remember fallen heroes.       The Old Farmer’s Almanac says the holiday is always on the last Monday in May...

  Week 1: What I Learned About Marketing.       This week I learned that marketing is more than just selling or advertising. Marketing is about understanding what people need and finding the best way to give it to them. It helps companies connect with customers.       I also learned about the Marketing Mix – the 4Ps: Product – what you sell Price – how much it costs Place – where you sell it Promotion – how you tell people about it       We talked about how companies use all of these together to be successful. I thought about Dollar Tree as an example. They offer low-priced products, have stores in many places, and use flyers and ads to show weekly deals. That’s a good use of the 4Ps.       Now I’m starting to notice marketing in my daily life – in stores, on social media, and even in emails. It’s interesting to see how companies try to get people’s attention. Marketing Strategy.      ...