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MKT402/PHI210 week 11 discussions AND responses

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PHI210 Week 11 Discussion Attachment

Please respond to the following:

  • First – Give your opinion on whether being an effective critical thinker makes decision making easier or more challenging. Talk about concrete decisions you had to or will have to make. Justify your response
  • Second – Consider the following statement: “The major difference between a successful person and one that is not successful is that the successful person, over time, tends to make better decisions than the less successful person.” Discuss whether or not you believe this statement to be true. Explain the fundamental ways in which effectively applying critical thinking concepts has helped you to become more successful

& RESPOND TO THIS POST:

Washington

RE: Week 11 Discussion

Good day, all-

I think that initially, one has to learn to be a critical thinker, therefore, it makes decision making a challenge. I think that once the process becomes second nature, then decision making, for the most part, will be easier. In light of my boyfriend’s recent death, I am going to look into my own death and put things in place. Like where I wish to be buried, which of my clothes I wish to be buried in, how I would want my possessions distributed, etc. I think I will even buy a coffin online now as I know how funeral parlors take advantage of a person’s grief and try to “sell” them all types of unnecessary items. I might even write my own eulogy.

I do not totally agree that “The major difference between a successful person and one that is not successful is that the successful person, over time, tends to make better decisions than the less successful person.” I also think that you have to put in work to be successful. And is your success based only on you? Do your decisions affect others negatively? Decisions that benefit you while putting others at risk are not a success. In order to be successful, the decisions should benefit everyone, not just yourself.

If we apply critical thinking concepts throughout our life, we will look deeper into the choice you are about to make. What ramifications will your decision have on not only you but those other people your decision will affect. For example, if I take my paycheck & go to a casino and lose, how will that affect my family? Did I just blow my paycheck before I have paid my mortgage/rent, utilities, or purchased food for my family? If so, what happens to them now? How will they eat? What will happen if this is a pattern of mine and the utility company will no longer accept late payments? We have to stop to think about the bigger picture and not give in to impulses, much like some do when going to the grocery store to shop while hungry. You may go in for a few items but come out with a few bags. Then later you will ask yourself why you bought all those unnecessary items. When we put more thought into our decisions we can generally come up with solutions that will have beneficial outcomes. Because of what I have learned in this course, I am learning to “think before speaking.” For example, my daughter asked me for money because she said she didn’t have money for gas. Well, I saw on social media where she had posted all these different places she had gone & all the times she went to visit her boyfriend and I thought to myself, “Hmmm, she is asking me for money for gas knowing that I am not able to work my other jobs due to Covid-19 yet she is gallivanting all over the place. And did she ask her boyfriend for gas money? What can she do to ‘earn’ the money?” I told her if she came over to my house & picked up the sticks in the yard (there was a LOT from all the wind we had in March & April!) that I would give her gas money. She didn’t seem too happy about that & I had to hear how it was going to make her back hurt, but she did it. Before I would just “help her.” Now I feel since she is an adult, she should do some type of work, especially since I used to tell her when she was a child, “there are no free lunches.”

Good luck all on your educational journey & stay safe!

MKT402 Week 11 Discussion 1

” Transfer It” Please respond to the following:

  • Discuss ways you plan to apply what you learned in this course in your current or future position.

& RESPOND TO THIS POST:

Cothran

RE: Week 11 Discussion 1

Hello Class and Professor,

I plan to apply what I learned from this course to my current career. I am a hair salon owner and have been working on a strategic plan to implement new pricing strategies. In the salon industry, it is frowned upon when your prices are too high. There is more price sensitivity to something considered luxury. All of my service providers spend money, and many hours honing their skills. Classes, hair shows, and platform artistry are not cheap. My goal is to run a breakeven analysis with competitors in the area and discuss with employees the next steps. Though their clients and I see great value in the services, they provide when is the price too much? Through this class, I have learned a lot that will help my salon remain successful. Thank you, Professor, for an excellent course! Thank you, Classmates, for the help in furthering understanding.

MKT402 Week 11 Discussion 2

“Sum It Up” Please respond to the following:

  • Write a speech that you would give to a friend in an elevator summing up the contents of this course. You have 30 to 90 seconds. Go!

& RESPOND TO THIS POST:

Cothran

RE: Week 11 Discussion 2

Let me tell you about this course I just finished. If you currently own or are starting a business, you NEED to know this information. The whole class was over strategic market pricing. We started with tactics on how to introduce pricing for a new product or service. Next, we went on to discuss the value and communicating value to your customers. Then we further researched pricing policies and which to choose when setting a level. Later the course covered financial analysis, which I found to be the most helpful in my business. Competition research proved to be a large part of successful businesses in the next final weeks. Then we learned about the different approaches customers have regarding price sensitivity. And last, but certainly not least we covered laws for pricing and the sad outcomes of businesses partaking in legal, but unethical practices. I know during the pandemic we have all seen the true colors of many businesses. In the future, as business owners, we should honor the research, evaluations, and moral standing of strategic market pricing.

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