MK103 Sec.700 Blog

While reading Chapter 10, I learned that f rom the important perspective of the consumer, newness is often seen as the degree of learning that a consumer must engage in to use the product. With continuous innovation, no new behaviors must be learned. With dynamically continuous innovation, only minor behavioral changes are needed. With a discontinuous innovation, consumers must learn entirely new consumption patterns.  I never thought of it that way, so this was a new learning experience for me. While reading Chapter 11, I learned that the product lifecycle describes the stages a new product goes through in the marketplace, which are introduction, growth, maturity, a nd decline. Marketing executives manage a product's life cycle by modifying the product itself by altering its characteristics such as product quality, performance, or appearance. It was one of those things that you do notice in the world but never think about, so this was quite eye opening. While reading Chapter

When I read Chapter 8, I learned that  to be successful, products must meet the wants and needs of potential customers. So, marketing research reduces risk by providing vital information to help marketing managers understand those wants and needs and translate them into marketing actions. This was very good information to learn. When I read Chapter 9, I learned that market segmentation involves aggregating pros pective buyers into groups that have common needs and will respond similarly to a marketing action. Organizations go to the expense of segmenting their markets when it increases their sales, profits, and ability to serve customers better. I never thought about it that way, so it was worthwhile to learn everything about this topic.

When I want to make a purchase on something, I think. what do I want? Do I want something that's related to my hobbies, like wrestling or video games? Do I need to buy anything like Fathers Day gifts? Do I want to buy something at a discount at the store I work at? When I want to purchase something related to my hobbies, 9 times out of 10 I will go to Amazon to see if they have what I'm looking for. Its usually things like toys to collect or a video game accessory that would look nice to own.  If I wanted to wait and buy something at my store, something like vitamins or things my family wants while I'm there, then I would buy those things with the employee discount I have.

  When I worked on this weeks assignment I wasn't aware of the consumer purchase decision process in Chapter 5 and how it consists of five stages, problem recognition, information search, alternative evaluation, purchase decision, and post purchase behavior. It was just one of those things I didn't really think about until now. When I got to Chapter 6, I learned that there are three different organizational markets , which are industrial, reseller, and government. It was fascinating reading about all the different markets and how they operate. It must take a lot of work to keep all that together. When I got to Chapter 7, I learned all about how a global perspective on world trade views exports and imports as complementary economic flows, which are a country's imports affect its exports and exports affect its imports. It was really interesting to read how all that worked. I loved doing the questions on Chapter 7 the most, really interesting information about Japan and

When I started my assignment for this week, I never really thought about technology improving and replacing products, because I was used to technology making life better. It is possible you have not noticed it either. After doing research about how technology improves so many things in our lives, it helped me appreciate the things I have.   When I did the ethics question in the textbook, I was surprised to see all the examples, it is nice to be informed on all the things happening in the world, like with the pricing of Cerdelga for the treatment of a rare genetic disease . It makes me sad I never noticed this because it got me thinking, just how many other situations like that are happening, and I have no idea that it is happening ?  

 The BLOG might include:              1) Interesting marketing-oriented sites you found (Provide the site's link),            2) Your observations on marketing in the workplace,            3) Personal experiences you have had with marketing as a consumer,            4) marketing articles and books you have read,           5) Your personal observation of marketing in action in the workplace or retail.           6). Also, include your observations and timely information oriented to the themes for the    week.           7) Students would also benefit from your observations and applications of the Hello! My name is Thomas Brown and I am 26 years old. My hobbies include videogames and watching WWE. I also had type 1 diabetes since I was 2 and a half years old and have high functioning autism. I am taking this class for my Liberal Arts Degree. This is my first time using a BLOG so hopefully things go well!