Week 16 - Marketing Environment

The Marketing Environment is a term that encompasses the entire business world's environment. The two main parts of the Marketing Environment are the Internal Environment and the External Environment.

The Internal Environment includes anything and everything that a single specific company must deal with on a daily basis in order to produce their product, manage their employees, etc. For example, in the Internal Environment, a business may have to purchase or repair different kinds of equipment that is necessary to produce a product. The Internal Environment is often assessed in order to optimize the allocation of resources to be able to yield the best profits possible.

The External Environment includes two subtopics. The Micro Environment (Task Environment) and the Macro Environment (Broad Environment). The Micro Environment deals with factors that are directly related to one's business. For example, the Micro Environment includes negotiations with suppliers, adjusting prices according to competition, etc. The Macro Environment deals with factors that are not directly related to one's business. For example, a new piece of technology may emerge that could increase production output by ten percent. This change in technology changes the entire industry as a whole and is therefore part of the Macro Environment.

Comments

Week 4 Blog 1 - Adapt, Adopt, Adept - Chapter 4: Surfing the Tsunami - My Takeaway

After reading Chapter 4 of Surfing The Tsunami by Todd Kelsey, I was informed of the three different levels of responding to AI. Adapting to AI is when one becomes aware of what AI is and where it is heading. Adopting AI is when one starts to utilize AI tools and programs. Finally, being Adept to AI is when one is actively included in the process of pushing the AI boundary and creating new tech that allows it to flourish. Recently, I have been taking a class on Digital Marketing, and at the beginning, I believe myself to have been in the Adapting category. I was aware of AI and what its capabilities were, however, I was not used to utilizing AI and its tools. As of now, however, I believe myself to be in the Adopting category because of my extensive use and research into ChatGPT and OpenAI. These tools are wonderful accessories that enables the search of the vast internet to be much faster and easier. AI like ChatGPT and OpenAI are still in ...

Week 9 - Three Ways To Prepare for AI (Adapt)

In the Book Surfing The Tsunami An Introduction to Artificial Intelligence and Options for Responding by Todd Kelsey, he discusses three ways to integrate oneself into the changing world of AI in order to be ready for AI in the future. The first option, Adapt, is the bear minimum one should do in order to have a leg up on someone else when it comes to AI. When Kelsey talks about adapting, he means to be aware of what the current state of AI is, and to keep tabs on any changes that are made in that industry. By doing this, it enables one to become more aware of the many possibilities that AI has for the future of not only business, but many other industries as well. AI is becoming more and more useful in a multitude of other industries besides business. The medical industry is pushing the boundary with the accuracy of diagnoses in patients by using AI. Even in the gaming industry, AI is becoming more and more prevalent. Recently, Tesla's Owner, Elon Musk and his team ...

Week 7 Blog 2 - ChatGPT Discusses the Most Influential Person to AI Development.

Hello everyone! This week in my ChatGPT adventure, I wanted to see what the AI tool has to say regarding the most influential person to AI development. I asked ChatGPT the following prompt, "Please list, in a blog format containing 3 core paragraphs, who is the most influential person in AI development." The following is what ChatGPT has to say on the subject The Most Influential Figure in AI Development: Revolutionizing the Future Artificial Intelligence (AI) has emerged as one of the most transformative technologies of our time, revolutionizing industries, driving innovation, and shaping our daily lives. Behind this remarkable progress stands a myriad of brilliant minds, but one figure towers above the rest as the most influential person in AI development. This individual's contributions have not only pushed the boundaries of what AI can achieve but have also inspired countless researchers and developers to pursue groundbreaking advancements. In this ...

Tayseer Zayed

Search This Blog