Marketing

 

   This is the first marketing lesson for me! During this module I learned new concepts such as value, marketing strategies, segmentation, products and branding. I found the module great introduction for marketing. 

I found the concept of value interesting. The value equation as mentioned in the lecture (Villegas, 2021), V= satisfaction- cost was an eye opener for me how to appreciate the value. I can think of this equation now in my daily life and in my choices!

Value in marketing refers to the perceived benefit a customer gets from a product or service relative to its cost. It’s what makes people decide whether something is worth it to them.

after learning 4 Ps in marketing strategies, I realized that marketing is structured  process rather than just advertising! Considering customer perception in every step from designing, pricing to placing the product is an extensive, structured and organized process. The 4 Ps sometime can be 5 or more Ps to ensure all aspects of the business are covered e.g people, packaging, payment..etc (RockContent, 2023). 

In the article I have read (RockContent, 2023), many examples of real brands that used the 4 or 5 Ps in their business were showed and discussed. The article also discuss how the 5 Ps are important in digital marketing. Linking theories and readings to real life example are always crucial for deep understanding and I think it helping in real life decisions.

At the end, I would say it is fruitful week made me more prepared for future marketing classes!


Villegas, J. (2021).  Lecture on Overview of Marketing. Personal Collection of J. Villegas, University of Illinois Springfield, IL.

Rock Content Writer. (2023). What are the 5 Ps of marketing? Core principles to build your strategy. Rock Content. https://rockcontent.com/blog/5-ps-of-marketing/

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