Chapter 13 & 14

Derived knowledge from this course:

I took a course named Introduction to Business (BUS-201) this semester. In this course I have learned
about the basic format of business. This course helped me to expose business terminology, concepts,
and current business practices. This course helped me to establish a viable business vocabulary, foster
critical and analytical thinking, and refine your business decision-making skills. I have acquired skills by
the reading materials, exercises, and research assignments from this course.

I have chosen two chapters from this course to discuss about. First one is “Marketing” and the second
one is “Developing and pricing goods and services (Pricing)”.

From the first chapter which is chapter Marketing (chapter-13) I have learned the basic idea about
marketing. I have learned about the ingredients that go into the marketing program. I have also learned
about two different markets from this chapter. I have acquired knowledge about 5 types of market
segmentation and target marketing.

From the second chapter which is chapter14-Developing and pricing goods and services (pricing) I have
learned how price strategies such as cost-based pricing, demand-based pricing and competition-based
pricing. I have also learned about cost analysis from this chapter.

Application of these knowledge’s in our dream business:

The knowledge’s which we have acquired from this course will help our dream business very much. As
everyone knows every company needs a strong marketing strategy. From the chapter 13 of this course
which is all about marketing we had a brief idea about marketing which will help us to develop our
company’s marketing strategy. We will apply target marketing strategy in our dream business which will
be selecting which segments an organization can serve profitably. From chapter 14 we had clear
knowledge about pricing. We will apply the pricing strategy such as cost-based pricing, demand-based
pricing and competition-based pricing in our dream business. We have came up with a very clear vision
about our dream business from this course and it would not have been possible without our amazing
course instructor Ariful Islam sir.