Outcomes

• Use appropriate terminology to communicate with marketing specialists and others about marketing concepts

As I have learned more about marketing, I have been able to successfully develop and communicate with others about the marketing concepts. In the beginning of the semester, I did poorly on my Practicum presentation because I could not communicate my understanding thoroughly. At the end of the semester, my team gave a presentation on our marketing plan and product and I was able to use terminology learned in the course to complete the presentation in a clear and concise way.

• Understand more clearly how marketing affects you as a consumer and how you influence marketing practices

As I have gotten older and had more buying power, I noticed that many advertisements online and through other sources of media are directed towards my age group. With changing technologies, I get more personalized advertisements through social media based on searched that I have done or websites that I have visited. As a business student, I have noticed how my personal view of certain companies affects where I choose to spend my money. For example, I refuse to shop at stores that have poor customer service or have a record of harming the environment. By placing my buying power in places that use better business practices, the stores or companies that have declined in the past with either change their methods or lose money.

• Identify and interpret changes in the environment which affect marketing activities

One change in the environment which affects marketing activities is increase in price. One example of this can be seen in Southwest Airlines. SWA makes oil bets and buys in large quantities at a time, however, one year, they believed that the prices would continue to rise so they bought the oil at a higher cost but the prices went down afterwards. Southwest Airlines was able to react to this bad bet by noting another change in the environment: people will pay more for better quality or services. SWA started charging for priority boarding and earned back the money they had previously lost. These changes in prices can affect how a company will react and may affect the company poorly or positively.