Reflection on learnings

Reflections on Learnings Name Institution Course Name Instructor Due Date Reflections on Learnings The COVID-19 pandemic is significant in the history of human beings and has had adverse effects on the markets. Research shows that at least 5,800 small businesses were affected, not to mention large-scale businesses (Bartik et al., 2020). We understand that people lost their jobs, reducing their purchasing power and directly affecting businesses. In every business, marketing is important and has been found to correlate positively with the increase in business revenue. Marketing has shown adaptability during COVID-19, and there has been a digital transformation, with most businesses having decided to use digital marketing as their channel to reach their market. As such, the companies need to be resilient and develop strategies to ensure continuity despite unexpected disruptions like a global pandemic. I have been able to learn and understand a lot in this course. I now understand the elements of product differentiation that can help in marketing. These elements include durability, reliability, repairability, and style, among other components. I have also clearly understood how customer segmentation can be done in businesses using the Charter Bus Industry case study. In the same case study, I learned about applied revenue management. Applied This concept is truly important in my future career as I can use it in segmentation and targeting. In this case, I can use market segmentation techniques to identify customer segments based on their preferences, behaviors, and purchasing power. Again, I can use the concept in dynamic pricing, which is crucial regarding marketing. I believe that all the articles that were shared in this class and all the assignments I have done so far have made a strong impression on me. Howev...