Marketing Reflections on Learning Outcomes
A lawyer or an accountant beginning a new business might choose to work harder at comparatively low prices for their services with an objective to gain more popularity and recognition. Or, besides competitive reasons there can be different motivations, such as survival. A monopoly may set prices without caring much about how it affects consumers’ interests because of inelastic demand for its products: in such a case a monopoly is just not interested in working harder, because the inelastic demand would reduce its efforts to zero. In other words, the economic reality requires us to be especially aware of the problem of pricing. Too many factors have to be taken into consideration, and, therefore, a very good understanding is needed to choose the right policies.
The most important conclusion regarding my learning outcomes in this course of study might be summarized as follows: the complex reality of today's economic life requires a comprehensive knowledge and profound understanding of the marketing theory. The great variety of specific marketing decisions the businesses have to make in day-to-day life always relies not only on our specific accumulated experience and skills, but also on our learning process and ability to filter and make use of specific marketing information in every particular case, be it a small family business or a large corporation.
- Felicity Chocolates
- Marketing Reflections on Learning Outcomes
- Saku Brewery Ltd. Analysis and Importance of Marketing Intelligence