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.

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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 ...

Week 16 - Marketing Strategy

Marketing strategies are what companies use in order to gain a competitive advantage in their business using the limited number of resources that they own. Companies who excel in creating and implementing superior marketing strategies tend are better off than those who are not. Some topics that will help businesses create a better marketing strategy are to develop a marketing plan, know one's target audience, and target marketing. Developing a marketing plan can be extremely useful to a company because it allows them to explore different areas and different marketing techniques and then proceed to go on using the one that yields the best results. A good marketing plan is one who takes into consideration what their customer wants from them and ease of access. By having and using a good marketing plan, it will inevitably provide easy to consume products that satisfies a customer's wants. Knowing one's target audience and target marketing go hand in hand. For example, targ...

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 ...

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