MKTG Reflective Essay Outline

.pdf

School

Mount Royal University *

*We aren’t endorsed by this school

Course

2150

Subject

Marketing

Date

Apr 3, 2024

Type

pdf

Pages

Uploaded by SuperHumanFlyPerson1093

Reflection on your inquiry and/or research processes during the term so far (one paragraph). ● What strategies have you used to find information? ● How have you evaluated the quality of information? ● Which resources were most beneficial and why? ● What are you still struggling with or wondering about in the marketing process? The library at MRU has a wealth of tools that can help students with their information searches, as I have discovered through my studies here. When I first started researching, I used Google Scholar, which has its own benefits but frequently encounters the issue of papers being locked behind paywalls. On the other hand, many of these paywalls are covered through memberships at MRU's library, allowing students access to the content they contain. Peer-reviewed status, which denotes that the information has been reviewed by a peer and has relevance and appropriateness to the topic of the article, can be used to confirm the reputation and credibility of the information sources. When looking for information on consumers or target markets, Passport was the most helpful website. For all of the assignments provided in this course, the website offers a wealth of data on market trends, demographics, and other topics. The persona, target market, and other elements of the marketing strategy were all developed using material from this site and others. Reflection about your game play and strategy project (one paragraph). ● Describe how you approached the simulation game and what your initial plan was. ● How did this shift during the game? ● At the end of the game, did the results differ from your expectations? ● Why do you think this was? ● What did you do that helped you succeed or what did you miss that led to you not seeing the success you wanted? In order to test out various combinations of bag designs, distribution channels, and advertising channels, I ran some practice simulations before the actual simulation game, both independently and with my team. We discovered that during the practice simulation, customers were the most satisfied with the bag design used during the real game. Because they provided the greatest profits and the most interaction with the target market, department stores, direct sales, and outdoor enthusiasts stores were selected as the distribution channels. The majority of the choices made in the real game were based on the trial runs, but some discrepancies did occur. We strayed from the plan as a result of these discrepancies, particularly with the advertising platforms. I made the error of using TV ads during my trial runs, which was too costly and reduced my profits to zero. Therefore, during the actual simulation, we changed our approach and concentrated on newspaper advertisements, which were still effective in terms of

audience engagement but were significantly less expensive, thereby not as much as eroding our profits. Due to our original game plan plus some adjustments, my team and I came in first at the conclusion of the real simulation. We increased our profits and won the competition by keeping our advertising approach inexpensive and effective. Reflection about your final marketing strategy project (one to two paragraphs). ● Describe the final project you worked on as a team. ● How would you describe your final marketing strategy project? ● What went right and what would you do differently next time? ● What parts of it were you most proud of and which were most innovative? ● What are the challenges and rewards that you have experienced with this? Our final marketing presentation covered the market we were trying to attract, the persona we developed, our product, the IMC components we would use, and the timetable for our plan. We provided examples of how we would use our website, social media, and special events to draw in and keep our target market. Unfortunately, we did not have enough time to practice the presentation more despite the incredible amount of research and effort put into them. Despite being excellent, the presentation could have been even better with more preparation. Regardless of the fact that I consider public speaking to be one of my strengths, I occasionally still get stressed out and anxious, particularly when giving a presentation. I was able to improve my public speaking abilities thanks to the presentation because more practice helps me get over my anxiety and tension. Reflection about the teamwork that you have engaged in during the term so far (one to two paragraphs). ● How has your team used your individual strengths to move forward, if at all? ● What are the rewards and challenges of working in a team for most of the MKTG 2150 course? ● How did you help to make your teamwork more effective, efficient, or engaging through the term? My research and public speaking skills serve me well in group situations. In this assignment, I was able to use my strengths since I contributed significantly to the research process throughout all of the various stages. My presentation's part was shorter than the sections of the others' because of how the work was divided up, so I wasn't able to speak as much as I would have liked. No matter if it is an assignment for school or the workplace, teamwork can be the most difficult aspect. The project's success or failure depends on the group's members and how they interact with one another. I had the good fortune to work with wonderful teammates who supported one another and completed their tasks promptly and to the best of their abilities. This made

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version