Week 1: What I Learned About Marketing.

 

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.

     Also I learned how companies make a marketing strategy. A strategy is a plan that helps a business reach its goals. It includes choosing the right customers and making a plan to serve them better than the competition.

      One tool I learned is the strategic marketing process. It has 3 steps:

  1. Planning – setting goals and making a marketing plan

  2. Implementation – doing the plan (like starting ads, selling products)

  3. Evaluation – checking if the plan worked or needs changes

      I also learned about SWOT analysis, which helps a company look at its:

  • Strengths (what they do well)

  • Weaknesses (what they need to improve)

  • Opportunities (good chances in the market)

  • Threats (problems or risks)


     Another thing I found interesting was the BCG Matrix. It helps a business decide which products are doing well and which are not. The four parts are:

  • Stars – high sales and high growth

  • Cash Cows – make good money but don’t grow much

  • Question Marks – maybe good, maybe not

  • Dogs – low sales and low growth

     I think this chapter showed that marketing is not just about selling. It’s about thinking, planning, and improving. I also started to think about how I can use SWOT in my future job or even my own business.











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