1. What is the best thing you've learned about Marketing so far?

The best thing that I’ve learned so far about Marketing is the 4Ps of Marketing or Marketing Mix. It
is the most important lesson learned so far because it is a crucial tool for developing the best marketing
strategies and putting them into practice using successful strategies. A critical component of your total
marketing strategy is the evaluation of the roles played by your product, promotion, price, and location.
Which marketing technique is best for your business depends on the combination. It comes before even
developing a business or marketing plan. The rationale is that your selections about the marketing mix
also affect those regarding positioning, targeting, and segmentation.

2. Why do you think there is a need to distinguish what kind of competitor (direct, indirect, or
substitute) in every industry?

There is a need to distinguish what kind of competitor your business has for you to allocate the right
amount of attention to a certain competitor. You need to put appropriate attention on these
competitors because they get a portion of the target market, otherwise known as a market share. For
example, usually your company should focus on its direct competitor because these are businesses that
offer the same products that have the same nature and category as yours.

3. What do you think is the most important marketing strategy in the modern era?

In the modern era, where digitalization including social medias has become a part of people’s day to day
life, promotion marketing strategy has been the most important one. It is because it serves as the root
cause in raising market awareness of your brand and products by targeting the right consumers. As a
result, demand will be created in the market, resulting in a rise in sales for your company.