Assignment and Reflection about Principles of Marketing

MKTG 3723 – Penghao Wang

Reflection 3 Use this assignment to reflect upon what you’ve read and learned over the course of this module. Also use it as an opportunity to ask for clarification on any topics you didn’t fully understand, or questions that came up while you were working. Think of it as the participation and discussion you might do in a face-to-face class. I’ll clarify things and answer your questions just like I would in class or office hours. Full credit will be given to reflections that seem thought-out and well-considered.

1. First Impressions: List thoughts or ideas that came to mind as you did the work for the week.

1) Proper identification of target group through market segmentation can enable a business to be successful.

2) Product position is currently being implemented through public relations or corporate social responsibilities.

3) Segmentation is all about identifying of unique feature characteristic in a group that will attract that particular group to the product that is being introduced into the market.

2. Key Terms: List words and concepts you felt were important this week.

Segmenting and Targeting Markets Criteria for successful segments Targeting tools Cannibalization Positioning Marketing Research Collecting and analyzing the data Uses of internet for research Product Concepts Branding strategies and Trademarks Product life cycles Services and Nonprofit Organization Marketing

3. Questions: List any questions that came to mind while you completed the work this week. These questions can be about the content, a topic related to the content, or about assignments or the format of the class.

1) About the segmentation bases with concept of segmentation. In particular, how the four bases identified in class connect to identification commonalities of consumers ? The bases am referring to producer, resellers, governments and institutions.

2) Do consumers choose products because of goods or services? Are there any market data to illustrate?