The Marketing Mind

  ✏️ Week 6: Chapters 13 & 14 Takeaways Hi everyone! 🌟 This week I read Chapters 13 and 14 of our marketing textbook. These chapters were about pricing — how companies decide what to charge for their products and services. 📖 Chapter 13 Chapter 13 showed me that pricing is very important . Companies don’t just pick any number; they look at: What customers think the product is worth What goals the company has — make a profit, sell more, or compete Discounts and extra fees that change the final price The chapter also explained that if people really want a product, they will pay more. If they don’t, companies need to lower the price. 💡 My takeaway: Companies must plan carefully and make sure the price matches what customers want and what the company needs. 📖 Chapter 14 Chapter 14 was about finding the final price . Companies can: Start high (price skimming) or low (penetration pricing) Offer discounts or special promotions Follow laws to make sure p...

  🌟 Marketing in Action – Week 5 Blog Post 🛫 1. Personal Experience: Vacation Purchase as a Consumer      Recently, my husband and I decided to book a vacation to Miami. I used the consumer purchase decision process we learned in Chapter 5: Problem Recognition : We needed a break and wanted to relax by the ocean. Information Search : I looked at hotel locations, amenities, and prices. Alternative Evaluation : I compared options based on location, pool access, and customer reviews. Purchase Decision : I chose a 3-star hotel through Expedia with a great deal that included flights and a Mustang convertible! Postpurchase Behavior : I kept checking prices during the week, but our deal stayed the best. I was super happy with the value we got—only $600 per person for 5 nights including flight, hotel, and car!      This experience showed me how well the five-step process works in real life and why companies should create bundles that off...

 Takeaways from Chapters 10, 11, and 12 (Marketing, 16th Edition) ✨ Chapter 10 – Developing New Products and Services In this chapter, I learned how companies create new products. A product can be a physical item, a service, or even just an idea. There are two main types: consumer products and business products. The most interesting part for me was the 7-step New Product Development (NPD) process . It includes idea generation, testing, analyzing, and finally bringing the product to market. I was surprised to learn that 80% of new products fail ! That means it’s super important to test and understand what people want before spending too much money. My takeaway: Companies should plan carefully, talk to customers, and test products early to avoid failure. ✨ Chapter 11 – Managing Successful Products, Services, and Brands This chapter explains how products have a "life"—called the product life cycle . It has four stages: Introduction, Growth, Maturity, and Decline. Each st...

  📚 Chapters 8 & 9: Marketing Research & Market Segmentation      In Chapters 8 and 9, I learned how important it is to understand your customer before creating any product or promotion. These chapters taught me how companies collect data and how they divide the market into useful groups. 🔍 Chapter 8 – Marketing Research      Marketing research is a step-by-step process that helps companies make better decisions. There are five main steps in the process: Define the problem Develop the research plan Collect information Analyze the data Take action based on findings      I also learned the difference between primary data (new data you collect) and secondary data (already existing). Both are helpful, depending on the situation.      Example:      If a college wants to know what students think about their website, they could do internet surveys or interviews . Each method ha...

  📚 What I Learned on Week 3 – Consumer, Organizational & Global Marketing This week, I studied Chapters 5, 6, and 7 from my Marketing course. These chapters helped me understand how different people and companies make buying decisions — and how marketing works in other countries too. 🛍️ Chapter 5 – Understanding Consumer Behavior This chapter showed me how people decide what to buy. There are five steps in the purchase decision process : Problem recognition Information search Evaluation of options Purchase Post-purchase behavior I also learned that things like motivation , attitudes , and family can affect how we shop. For example, I noticed I always check reviews before I buy something online—that’s part of the evaluation step! 🏢 Chapter 6 – Understanding Organizations as Customers Companies also buy things, but they do it differently than regular people. There’s something called a buying center , where different people (like buyers, users, and dec...

  🎧 What I Learned from the Best Marketing Podcasts Podcasts are a great way to learn about marketing while driving, cooking, or relaxing. I recently checked out a Forbes article listing the eight best marketing podcasts , and here are two I found the most helpful and interesting: 1. Social Media Marketing Podcast This podcast talks about how businesses can use Instagram, Facebook, YouTube , and other social platforms to grow. I liked how it gave real examples and easy steps to improve your brand online. It’s great for learning how to connect with your audience and grow followers. 2. Online Marketing Made Easy Hosted by Amy Porterfield, this one is really useful for small business owners and beginners . She explains things like email marketing, building websites, and creating online courses. Her voice is friendly, and she gives clear tips you can try right away. 💡 What I Learned I learned that marketing today is not just about ads . It's about engaging people , telling ...