MK103 Sec.700 Blog

When I got to Chapter 7, I got to learn 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 how an American commercial wouldn't be as successful in Japan like it would in America. 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...

When reading Chapter 19, I read that p ubl ic relations activities usually focus on communicating positive aspects of the bu siness. A frequently used publ ic relations tool is publ ic ity. Publ ic ity tools include news releases and news conferences. I was doing a public relations class for college and it was nice to see that topic come up for this class. When reading Chapter 20, I learned that t he reach, cost, investment, timeliness, flexibility , and influence of social media have transformed mar ke ti ng communications, including the practice of influencer mar ke ti ng . The convergence of the real and digital worlds in social media is the result of the proliferation of interlinked s mar tphones, tablet devices, connected cars, sensors, special identification tags, databases, algorithms, apps, and other elements. It was interesting to read about something that we use in our day to day lives in a way that uses it in a way that can help a business thrive. When reading Chapte...

When reading Chapter 17, I learned about how that t here are six reasons consumers shop and buy online, which are convenience, choice, customization, communication, cost, and control. Marketers have capitalized on these reasons through a variety of means. This was very interesting to read about and helped me understand they provide choice assistance using choiceboard and collaborative filtering technology. When reading Chapter 18, I learned about how t he comm unication process conveys messages with six elements, which are a source, a message, a channel of communication, a receiver , and encoding and decoding, and how the communication proc ess also includes a feedback loop. Reading about this was interesting to me and it was nice to learn all about the elements used in integrated marketing communications and everything about direct marketing.

When reading Chapter 15, I learned that a supply chain refers to the various firms involved in performing the various act ivities required to create and deliver a product or service to consumers or industria l users, and that s upply chain management is the integration and organization of information and logistics across firms to create value for consumers. Logistics involves those activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible cost and that l ogistic management includes the coordination of the flows of both inbound and outbound products, an emphasis on making these flows cost effective, and customer service .  I didn't think of it this way and it was nice to read and learn about it. When reading Chapter 16, I learned that t he wheel of retailing concept explains how retail outlets typically enter the market as low status, low margin stores and that over time, stores gradually add new prod...