Assignment 21A- Reading Reflection No. 2
1) What was the general theme or argument of the book?
The general theme of this book was to showcase how technological advances have changed how the market works. It showed that products that are smaller can now boost their sales by exposing themselves to selling them online. It also talked about how the diversification of products has been changed because of how many online retailers can offer a lot of different products in the same category. It compared sales in the old days to now, saying that even though there are a lot of products in the market today nothing sells in the way that it did before. Now things are more spread out equally between all of the different products because of all of the options offered.
2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
This book connected with what we are learning in this class because it showed how as entrepreneurs we have to keep track of what is going on in the market of our specified service or product. Since a lot of people have much more options now, entrepreneurs need to find a way to market the product in such a way that it is preferred above others.
3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
Based on this book I would design an exercise that would focus more on the market aspect of things. I would maybe try to find a product that is similar to mine and track how well they are doing in the market. From there, try to make my product more appealing and do a market performance test to see how well it would do against the main competitor.
4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?
I don't think that this book differed much from my expectations because now that we have more technological advances, people are always going to find a lot of products that are in the same category. Before, you only really had the option of buying a few select items because things weren't as readily available as they are now.
2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
This book connected with what we are learning in this class because it showed how as entrepreneurs we have to keep track of what is going on in the market of our specified service or product. Since a lot of people have much more options now, entrepreneurs need to find a way to market the product in such a way that it is preferred above others.
3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
Based on this book I would design an exercise that would focus more on the market aspect of things. I would maybe try to find a product that is similar to mine and track how well they are doing in the market. From there, try to make my product more appealing and do a market performance test to see how well it would do against the main competitor.
4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?
I don't think that this book differed much from my expectations because now that we have more technological advances, people are always going to find a lot of products that are in the same category. Before, you only really had the option of buying a few select items because things weren't as readily available as they are now.
Juliana, thanks for this post! Keeping up with market changes is something we all have to be aware nowadays. I remember Dr. Banko saying that if we want to understand about Finance we should start reading everyday. The same goes with what the book you read talks about. Your exercise is very interesting. Hopefully it will be implemented in this class in the future!
ReplyDeleteHey Juliana! Great post about this book. You are actually the second person in this group who I noticed read this one. It was interesting to hear different responses to what the author was saying. I agree with what you said for the "aha moment". I think that that the more technology we have the more product variety we can have. Way more than before all of our current tech.
ReplyDeleteHey Juliana, I enjoyed reading about your reflection from this book. You gave a great exercise that you would employ for this class. I would be interested to see what all of our classmates would come up with for this assignment. I also liked how you connected the markets into this class. Being an Econ major, I know a decent amount about the market, and I think you came up with a pretty good description. Great post.
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