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MRKT 3516 University of California Los Angeles The Lecture Review

MRKT 3516 University of California Los Angeles The Lecture Review

Question Description

Just a few sentences to generalize and rephrase from the powerpoint from each class.

Total 5 question, wouldn’t take more than 30 minutes to finish.

1.Here I am going to list all of the major topics covered in this class. Please tell me any or all of your relevant thoughts on each of these topics. For example, was this topic interesting to you? Why or why not? Then, should this topic should be eliminated entirely; OR, should this topic should be given more or less weight or emphasis?. You can focus on a portion of the topic, or the topic overall. You should also try to describe how the discussion of this topic could be improved. (Feel free to review the PowerPoint lecture materials on Brightspace in order to better recall these topics.)

a.Lecture 2: Understanding customer perceptions of value, the exchange process and its history, the notion of consumer surplus, issues of ethics in the exchange process.

b.Lecture 3: Distinguishing Free-Markets from Capitalism. Understanding externalities. Some major U.S. “examples” of company efforts to create societal or customer value—and the long–term implications of these efforts (e.g., DDT, Automobiles). Why it is difficult to accomplish multiple conflicting objectives in business strategy, and the dilemmas imposed by Stakeholder Theory. Examples of how businesses have stumbled in trying to satisfy conflicting societal demands.

c.Lecture 4: The role of government in ensuring that both customer and company interests are protected. A history of medical treatment and health in the U.S. (Patent Medicines, etc.) as an illustration of the role of government in protecting consumer interests.

d.Lecture 5: The role of thinking, knowing, and science in business. Approaches to finding and defining truth. How business attempts to understand the world (data) in order to build a strategic model for profitability. Some of the more dangerous biases in perceiving, understanding, and interpreting information. Understanding variables and the categorization of phenomena.

Lecture 6: How and why Monopoly Power is created in business. How monopoly power leads to profitability. Understanding the role of each of the FOUR Ps in creating or contributing to Profitability. Company failures (Schlitz Beer, Segway, etc.) in the quest to create and maintain monopoly power.

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