Free

What was the most valuable thing that you learned in BUS656 this term - Essay Example

Comments (0) Cite this document
Summary
The topics in this term emphasize various aspects of marketing strategy and planning. Marketing strategy was elucidated in various ways by which an organization could improve its profits and performance by…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.8% of users find it useful
What was the most valuable thing that you learned in BUS656 this term
Read TextPreview

Extract of sample "What was the most valuable thing that you learned in BUS656 this term"

Marketing What was the most valuable thing that you learned in BUS656 this term The term concerning BUS656 has been extremely insightful in many ways. The topics in this term emphasize various aspects of marketing strategy and planning. Marketing strategy was elucidated in various ways by which an organization could improve its profits and performance by focusing on specific areas of business and/or resources and opportunities. This topic, which was focused on the concept of segmentation, has been the most significant learning because segmentation is the most appropriate market strategy for any new and/or old business. Segmentation helps in allocating demand or creating demand for goods and services. This concept provides numerous ways to create market segments that can be used to leverage business potential.
The highlighted point is that of defensible market segments, which would actually help in capturing market share for a large as well as small business. The defensible market segments not only create business but also sideline competition from others in the industry. Creation of defensible market segments allows a particular business to stay on the top until competitors surpass the defensible segments with better products and/or customers’ needs change. Defensible segments can be of value with the positioning strategy of the business, especially in weak market segments. Understanding customers’ buying behavior and needs help in creating defensible segments. In addition, customer behavior in terms of frequency of purchase, attitude towards a particular product and a new product of the same brand can be advantageous to creation of defensible market strategy. Positioning strategy of products aimed at defensible segments provides opportunity to increase market share of new products. Greater product differentiation and an established brand automatically increase purchase size of customers, but cannot create defensible segments.
This module highlighted the significance of defensible segments and acquiring market share as well as identifying market segments that can be used to find a slot for a particular product. Understanding markets will also help in designing products to meet the market/customer demands, which may be used for positioning the products. Once the market and customer needs are identified, it becomes simpler to find positioning strategies accordingly. It is difficult to capture greater market share of products that create defensible segments. Here, a strong positioning strategy would be of great value for the business. Positioning strategy helps in putting forth propositions through various promotional strategies. Defensible segments allow successful positioning of products and services; however, competitors’ intrusion cannot be disregarded. Segmentation becomes difficult in two cases, firstly, competition and second is changing customer needs, attitudes and behavior which render the segment no longer defensible.
In conclusion, defensible market segments allow creation of specialty products for specific target customers. This is advantageous for large and small businesses, and even startup businesses. Defensible segments are captured with unique positioning strategies for the new products. It is also clear that defensible segments remain viable only until absence of competition and till customers’ preferences remain unchanged, and hence short-lived. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“What was the most valuable thing that you learned in BUS656 this term Essay”, n.d.)
What was the most valuable thing that you learned in BUS656 this term Essay. Retrieved from https://studentshare.org/management/1586517-what-was-the-most-valuable-thing-that-you-learned-in-bus656-this-term
(What Was the Most Valuable Thing That You Learned in BUS656 This Term Essay)
What Was the Most Valuable Thing That You Learned in BUS656 This Term Essay. https://studentshare.org/management/1586517-what-was-the-most-valuable-thing-that-you-learned-in-bus656-this-term.
“What Was the Most Valuable Thing That You Learned in BUS656 This Term Essay”, n.d. https://studentshare.org/management/1586517-what-was-the-most-valuable-thing-that-you-learned-in-bus656-this-term.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF What was the most valuable thing that you learned in BUS656 this term

What you learned in speech course

.... I also realized that it is our speech that makes us unique from thousands of people around the world. They say everyone’s equal and that fact is true but having command over proper speech is what distinguishes a learned person from an ill literate one and makes you stand out in front of a crowd. I would like to sum it all up by saying this speech course has ideally changed the course of my life and how I used to see things. Now I believe if you can communicate properly and make yourself heard then you can overcome any obstacle in life.... ?What You Learned In This Speech This session of presentations and speeches has been a really helpful one. It has helped me a great deal in understanding how presentations...
3 Pages(750 words)Essay

Reaction Paper is to have two main components: 1) analyze the most important thing or things you feel you learned from one speci

...the destructive influence of environment while making the team develop behavior that is necessary for success (Prati, 2012). The imperative application of SCT concepts in life activities is indisputable considering its postulates on the idea of social learning and the demonstration of the learnt concepts. This is because the model can enable me to create a desired personality or build an important culture within my team. This is because one can evaluate and provide essential environment aspects that could foster the development of a preferred habit. This is possible through the creation of purposeful and goal-oriented strategies. Furthermore, one can identify and provide valuable motivational elements...
3 Pages(750 words)Essay

Summary what you have learned from lectures

...doubt themselves. Motivation can either be extrinsic, which is because of external outcomes such as bonuses, job security and promotions, or intrinsic which is internal motivation such as a sense of accomplishment, skill development and a general enjoyment of the work. Learning and Decision Making Learning can be explained as a change that results from experience in the knowledge or skill that an employee poses, learning can be through reinforcement that is the use of rewards and punishment, observation and experience. In learning, classical conditioning implies that an employee’s response to a stimulus is not what would have been expected. Through operant conditioning,...
3 Pages(750 words)Assignment

The Most Important Thing That You Have Learned from This Class

...What’s the most important thing that you have learned from this The most important thing that I’ve learned from “Foundations for General Education and Professional Success” has been how to conduct myself in an education institution. I never would have known the vast resources that are available in the university library. This course has helped me to work out what sources are reliable and what are not. My knowledge about how to cite information has also increased. Before I took this course, I hardly ever used sources in any of my papers, and if I did, I did not cite them properly as I should. I know understand that this is...
1 Pages(250 words)Essay

Most Valuable Provisions

...ANA provisions ANA provisions According to the ANA provision, provision 8 and 9 in my opinion are the most important among the rest. Provision 8 aims at offering quality health service in the public. As seen in the argument by Lachman (2009) nurses collaborate with other health professionals and the members of the public in ensuring that the community pulls efforts to meet the health needs of the members of public. The same applies, nationally, and internationally. In relation to the provision, the nurses are charged with the role of ensuring that they are committed to promoting health, safety, and welfare of all persons. This is only possible if the nurses are aware of the specific health needs of the patients, as well...
2 Pages(500 words)Research Paper

Most valuable lessons learned from this Business Ethics course

.... In many Asian countries such as India and China bribers are visualized as part of doing business. In contrast U.S. businesspeople perceive bribes as an unethical act that must be avoided at all cost. The concept of social corporate responsibility has raised the ethical standards of business communities across the world. Acting in an ethical manner can help improve the corporate image of a company. In contrast unethical behavior can destroy the reputation of a firm. During the late 1990’s Nike Corporation was involved in a sweatshop scandal that hurt the company so much that in its aftermath the company lost half its annual sales. One of the greatest lessons that I learned from the course is that my professional future...
1 Pages(250 words)Essay

What you learned

...on mimesis in human nature, so things can be learned on examples. After studding philosophy myself I think one should examine it to have a feeling he’s getting wiser and becoming more thoughtful and reasonable person. Felling of self-improving gives you dignity. And also philosophy gets thinking and questioning into a habit, so one will do less false and forced choices. Goals and Applications I think following ethical goals in everyday life is necessary, because originally ethics is about rules and norms that keep society, compared to professional life where also professional ethics rules exist. According to Aristotle, ethics is about good actions. So I’m going to make actions in order...
1 Pages(250 words)Assignment

What You learned in this class

...What I Learned In This Introduction In contemporary essay writing, brilliant formatting and grammar skills is inevitable. Effectively written academic papers attract readers’ interest, address fundamental information of the author, and follows basic writing regulations. Such effective communication through academic papers demands fundamental referencing, formatting, and grammar skills. A good paper addresses the aforementioned requirements besides remaining relevant. In our class, I learnt various technical skills relating to effective academic writing including formatting, referencing, and identifying grammar mistakes. The grammar and referencing skills learnt in class remain fundamental in transforming my writing...
2 Pages(500 words)Assignment

What You learned in this class

... What You Learned In This Introduction Paper formatting is very vital in writing. Proper punctuation with appropriate use of commas and full stops is essential in excellent academic writing. Correct and good grammar is imperative in avoiding common mistakes and presenting understandable information. Lessons Learnt MLA style gives the general guidelines for formatting papers and using English language in writing. MLA style enable writers to learn a system for referencing sources through thorough citation in their papers and inclusion of work cited pages. The use of MLA protects writers from accusation of plagiarism and demonstrates their liability to the source of material. Graduate students should use MLA style to reference... their...
2 Pages(500 words)Assignment

The Most Surprising Thing Learned About the Origins and Background to Rock And Roll

...Number: The Most Surprising Thing Learned About the Origins and Background to Rock And Roll There are some of the surprising facts that could be related to the origin and background of Rock and Roll. Rock and Roll originated from the early 1950s or late 1940s in the United States and emerged to be a popular genre of music. It was learned that the Black singers and musicians of the US have introduced this form of music, which is also known as Rhythm and Blues. During the year of its origin, it was also known as African-American music as it originated from the Black singers of the nation. It is also arguable that there is presence of similar form of music during 1920s,...
1 Pages(250 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic What was the most valuable thing that you learned in BUS656 this term for FREE!

Contact Us