Reflection Assignment #3.docx

I had never taken marketing before at that time so i

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I had never taken marketing before at that time so I was not sure about anything at that time. I was just answering and participating by what I knew from common sense or general knowledge that I hear or read from students and online. Outline three key learnings you have taken away from this course. - I learned about the marketing mix and 4 ps. I learned how you need to effectively use this to make sure your product does well in the market. By effectively doing marketing mix, you can get a competitive edge and gain customer satisfaction. You don’t just make whatever you feel and just put it out there, you have to go through a certain stage and process to get it into the market. - I also learned about the different product life cycles; introduction, growth, maturity, and decline stage. I learned about how a product does in the market at each stage and what do businesses do in each stage to make sure they get the most out of the product like promoting the product. Each stage, the product is promoted differently and by the end (decline stage), there is little to no promotion. - I also learned how you can enter the market (exporting, licensing, joint venture and direct investment). I learned how you can enter the market using all of them, like what process you have to go through. I also learned the pros and cons for using each strategy. I now know which strategy to use for which scenarios, you can’t just use any strategy because it might not be the right way to go. QUESTION #4 Select and include an artefact that represents your Evidence of Learning from this course. This artefact could be a copy of your final report, a presentation, a picture of your tradeshow booth, a commercial you developed, a product logo, one of the in-class activities etc. The artifact I chose is a picture we took as a group in the tradeshow. I chose this picture because it represents the hard work we put throughout the semester to come to that stage and complete it. We went through a strike and overburden of work in a small period of time. We went through collaborating together and finishing up work while we had a busy Reflection Assignment #3 Marketing Fundamentals Page 3 of 4
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schedule, in and out of college. This picture represents our learning throughout the semester. We combined all the knowledge we had to come and present in that tradeshow. It is a representation of all the drafts we did and how we used the drafts to make our pitch and make these visuals in the picture. It might not be evident in the picture, but it represents how we went from little knowledge at the start of the semester to quite knowledgeable at the end of the semester about effective marketing. Reflection Assignment #3 Marketing Fundamentals Page 4 of 4
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