Thursday, March 21, 2013
Week 8 EOC: Creative Content
For my creative content, I will release two things. The first will be the logo. This can be crucial to the company because the customers that choose to drink the sodas straight from the cans rather than in a mixed drink, could be driven away by a logo that represents the company badly. I will also be presenting an Adobe Photoshop image of the cans with the logo. A different colored can will represent each flavor.
Tuesday, March 19, 2013
Week 10 EOC: Under Control
To be entirely ready to turn in all of my work on Thursday I need to work on some things. The first part is my twitter status. I currently have fifty four tweets. To be ready for Thursday, I need seventy seven total tweets, which means that I have about twenty more tweets to post before the beginning of class on Thursday. Next, I need twenty quotes from the textbook before Thursday. Currently, I have around six quotes. Fourteen more quotes from the textbook are needed. Next thing that needs to be done is my Creative Content. I have finished the logo, but I feel it needs a little bit more work and also I must finish my Photoshop image of the can with the logo. Everything about the layout of my Twitter and Blogger accounts is already done, so that is one less thing that I should fix. Out of the ten steps to the marketing plan, I have four that are ready. I need to work on my SWOT Analysis, Objectives, Marketing Strategy, Distribution, Product, and Implementation portions of the plan.
Thursday, March 14, 2013
Week 9 EOC: Social Media
There are three social media mediums that will be essential to this company's success. The first will be Facebook. The company shall have a fan page on Facebook. It will give out information and be used as way to keep a relationship with the fans. The fans shall feel free to post comments, pictures, etc about the product. Twitter will be in use to update followers on changes and promotions, as well as a way to gauge how well the company is doing. It too, will be used to create relationships with customers in real time. The last social media site that will be used is YouTube. YouTube can be used to spread the word on the product through viral videos that will be meaningful and connect with the customer. An additional idea for the YouTube channel is to show monthly videos on how to use these products to make non-alcoholic versions of out most popular mixed drinks.
Implementation, Evaluation, Control
Bold Soda will be sold locally, only in Las Vegas and Henderson at first. Once it becomes more well-known through word of mouth, we will begin to expand to different districts in the state.
"Through implementation, the company turns the plans into actions. Control consists of measuring and evaluating the results of marketing activities and taking corrective action where needed." Armstrong & Kotler.
"Marketing implementation-The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives."
"Through implementation, the company turns the plans into actions. Control consists of measuring and evaluating the results of marketing activities and taking corrective action where needed." Armstrong & Kotler.
"Marketing implementation-The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives."
Armstrong & Kotler.
Price
I will set the price of my product at $3.98. To come up with this price, I will base this price on what value the customer gives the product. I will also take the customers' needs into account.
"In the narrowest sense, price is the amount of money charged for a product or service. More broadly, price is the sum of all the values that customers give up in order to gain the benefits of having or using a product or service. "
Gary Armstrong and Philip Kotler. Marketing: An Introduction for Education Management Corporation, 10th Edition.
"Customer perceptions of the product’s value set the ceiling for prices. If customers perceive that the price is greater than the product’s value, they will not buy the product. Product costs set the floor for prices. If the company prices the product below its costs, company profits will suffer. In setting its price between these two extremes, the company must consider a number of other internal and external factors, including competitors’ strategies and prices, the company’s overall marketing strategy and mix, and the nature of the market and demand."
Gary Armstrong and Philip Kotler. Marketing: An Introduction for Education Management Corporation, 10th Edition.
Objective 1 Identify the three major pricing strategies and discuss the importance of understanding customer-value perceptions, company costs, and competitor strategies when setting prices. (pp 275–280) A price is the sum of all the values that customers give up in order to gain the benefits of having or using a product or service. The three major pricing strategies include customer value-based pricing, cost-based pricing, and competition-based pricing. Good pricing begins with a complete understanding of the value that a product or service creates for customers and setting a price that captures that value. The price the company charges will fall somewhere between one that is too high to produce any demand and one that is too low to produce a profit. Customer perceptions of the product’s value set the ceiling for prices. If customers perceive that the price is greater than the product’s value, they will not buy the product. At the other extreme, company and product costs set the floor for prices. If the company prices the product below its costs, its profits will suffer. Between these two extremes, consumers will base their judgments of a product’s value on the prices that competitors charge for similar products. Thus, in setting prices, companies need to consider all three factors: customer perceived value, costs, and competitor’s pricing strategies.
"In the narrowest sense, price is the amount of money charged for a product or service. More broadly, price is the sum of all the values that customers give up in order to gain the benefits of having or using a product or service. "
Gary Armstrong and Philip Kotler. Marketing: An Introduction for Education Management Corporation, 10th Edition.
"Customer perceptions of the product’s value set the ceiling for prices. If customers perceive that the price is greater than the product’s value, they will not buy the product. Product costs set the floor for prices. If the company prices the product below its costs, company profits will suffer. In setting its price between these two extremes, the company must consider a number of other internal and external factors, including competitors’ strategies and prices, the company’s overall marketing strategy and mix, and the nature of the market and demand."
Gary Armstrong and Philip Kotler. Marketing: An Introduction for Education Management Corporation, 10th Edition.
Objective 1 Identify the three major pricing strategies and discuss the importance of understanding customer-value perceptions, company costs, and competitor strategies when setting prices. (pp 275–280) A price is the sum of all the values that customers give up in order to gain the benefits of having or using a product or service. The three major pricing strategies include customer value-based pricing, cost-based pricing, and competition-based pricing. Good pricing begins with a complete understanding of the value that a product or service creates for customers and setting a price that captures that value. The price the company charges will fall somewhere between one that is too high to produce any demand and one that is too low to produce a profit. Customer perceptions of the product’s value set the ceiling for prices. If customers perceive that the price is greater than the product’s value, they will not buy the product. At the other extreme, company and product costs set the floor for prices. If the company prices the product below its costs, its profits will suffer. Between these two extremes, consumers will base their judgments of a product’s value on the prices that competitors charge for similar products. Thus, in setting prices, companies need to consider all three factors: customer perceived value, costs, and competitor’s pricing strategies.
Promotion
To promote this product, the company will do several things. First, free samples of Bold Soda will be offered at the nightclubs as well as a limited amount through Facebook or Twitter. Small surveys will be conducted to test which flavors are most popular and what things could be changed, etc. Once the product reaches a bit more popularity, a YouTube video contest for a one-moth supply of the soda as well as a spot in a TV commercial will commence. Customers will have a chance to be involved with the product and show their own creativity and loyalty. Instructional videos on the non-alcoholic versions of the mixed drinks will also be offered.
"Marketers can choose from two basic promotion mix strategies—push promotion or pull promotion... A push strategy involves “pushing” the product through marketing channels to final consumers. The producer directs its marketing activities (primarily personal selling and trade promotion) toward channel members to induce them to carry the product and to promote it to final consumers...Using a pull strategy, the producer directs its marketing activities (primarily advertising and consumer promotion) toward final consumers to induce them to buy the product."
Gary Armstrong and Philip Kotler. Marketing: An Introduction for Education Management Corporation, 10th Edition.
"Promotion means activities that communicate the merits of the product and persuade target customers to buy it. Ford Motor Company spends more than $2 billion each year on U.S. advertising to tell consumers about the company and its many products. Dealership salespeople assist potential buyers and persuade them that Ford is the best car for them. Ford and its dealers offer special promotions—sales, cash rebates, low-financing rates—as added purchase incentives." Gary Armstrong and Philip Kotler. Marketing: An Introduction for Education Management Corporation, 10th Edition.
"Marketers can choose from two basic promotion mix strategies—push promotion or pull promotion... A push strategy involves “pushing” the product through marketing channels to final consumers. The producer directs its marketing activities (primarily personal selling and trade promotion) toward channel members to induce them to carry the product and to promote it to final consumers...Using a pull strategy, the producer directs its marketing activities (primarily advertising and consumer promotion) toward final consumers to induce them to buy the product."
Gary Armstrong and Philip Kotler. Marketing: An Introduction for Education Management Corporation, 10th Edition.
"Promotion means activities that communicate the merits of the product and persuade target customers to buy it. Ford Motor Company spends more than $2 billion each year on U.S. advertising to tell consumers about the company and its many products. Dealership salespeople assist potential buyers and persuade them that Ford is the best car for them. Ford and its dealers offer special promotions—sales, cash rebates, low-financing rates—as added purchase incentives." Gary Armstrong and Philip Kotler. Marketing: An Introduction for Education Management Corporation, 10th Edition.
Distribution
These drinks will begin to be distributed at clubs and bars in Las Vegas. Because of the non-alcoholic and non-artificial content of Bold, when more recognition is gained, we may try to find a way to sell in the previously mentioned clubs and bars, as well as stores that are more health-oriented, such as Trader Joe's, Whole Foods, maybe some Farmer's markets in the Henderson area if possible. Slowly, the brand will build and we will expand to do the same in different districts and regions until the drink is recognized nationwide.
"Next, the company must decide where to launch the new product—in a single location, a region, the national market, or the international market. Few companies have the confidence, capital, and capacity to launch new products into full national or international distribution right away."
Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing.
"Marketing logistics (or physical distribution)
Planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit."
"Next, the company must decide where to launch the new product—in a single location, a region, the national market, or the international market. Few companies have the confidence, capital, and capacity to launch new products into full national or international distribution right away."
Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing.
Planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit."
Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing.
Product
The product is Bold Soda. This soda is a drink that is not artificially sweetened and only uses natural ingredients. It promotes being healthy but can also be mixed with different alcohols for a little more fun. All of the flavors are carbonated. The flavors are Crazy Piña, Lively Ginger, and Brazen Lime. All of the flavors have fun names that customers will enjoy saying, along with simply delightful, fruity tastes. The ginger ale is made of real ginger and is caffeine free. The Crazy Piña will be perfect to mix with vodka. Brazen Lime will be great in a mixed drink or by itself, as all of the flavors will.
"In all, to create successful new products, a company must understand its consumers, markets, and competitors and develop products that deliver superior value to customers. It must carry out strong new-product planning and set up a systematic, customer-driven new-product development process for finding and growing new products."
"In all, to create successful new products, a company must understand its consumers, markets, and competitors and develop products that deliver superior value to customers. It must carry out strong new-product planning and set up a systematic, customer-driven new-product development process for finding and growing new products."
Armstrong and Kotler.
"We define a product as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. Products include more than just tangible objects, such as cars, computers, or cell phones. Broadly defined, “products” also include services, events, persons, places, organizations, ideas, or mixes of these. Throughout this text, we use the term product broadly to include any or all of these entities. Thus, an Apple iPhone, a Toyota Camry, and a Caffé Mocha at Starbucks are products. But so are a trip to Las Vegas, Fidelity online investment services, and advice from your family doctor."
"We define a product as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. Products include more than just tangible objects, such as cars, computers, or cell phones. Broadly defined, “products” also include services, events, persons, places, organizations, ideas, or mixes of these. Throughout this text, we use the term product broadly to include any or all of these entities. Thus, an Apple iPhone, a Toyota Camry, and a Caffé Mocha at Starbucks are products. But so are a trip to Las Vegas, Fidelity online investment services, and advice from your family doctor."
Marketing. Armstrong and Kotler. Pg 209.
Targeting Marketing Strategy
Our customer is a person who enjoys the nightlife or stressed out from the pressures of life and wants to go to a bar for a good time. They are young, or younger than forty, and frequent the bar or nightclub scene. They can be health-conscious. The target market lives in Las Vegas or Henderson, Nevada. They are technologically savvy and know their way around every social media network. If the product later goes to organic markets like Whole Foods and Trader Joe's, the market will change to some older people as well.
"Good marketing companies know that they cannot serve all customers in every way. Instead, they need to focus their resources on the customers they can serve best and most profitably."
"Good marketing companies know that they cannot serve all customers in every way. Instead, they need to focus their resources on the customers they can serve best and most profitably."
Armstrong & Kotler. Pg 31.
"To design a winning marketing strategy, the marketing manager must answer two important questions: What customers will we serve (what’s our target market)? and How can we serve these customers best (what’s our value proposition)?"
"To design a winning marketing strategy, the marketing manager must answer two important questions: What customers will we serve (what’s our target market)? and How can we serve these customers best (what’s our value proposition)?"
Armstrong & Kotler. Pg 9.
SWOT Analysis
Some of Bold Soda's strengths are its simple flavors and natural ingredients that indicate a healthier alternative. A big weakness with this brand is that it is not yet known. Nobody has heard of this product yet, especially not the potential customers. The fact that this product presents a healthy alternative but with a delightful taste, creates great opportunity. We will also have opportunities to become partners with alcohol brands for the mixed drinks. Bold Soda's biggest threats are the big, established brands- such as Coca-Cola and Pepsi brand products.
""The goal of SWOT analysis is to match the company strengths to attractive opportunities in the environment, while eliminating or overcoming the weaknesses and minimizing the threats." Marketing: An Introduction. Pg. 56.
"Managing the marketing function begins with a complete analysis of the company’s situation. The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T). "
Armstrong & Kotler. Marketing. Pg 55.
""The goal of SWOT analysis is to match the company strengths to attractive opportunities in the environment, while eliminating or overcoming the weaknesses and minimizing the threats." Marketing: An Introduction. Pg. 56.
Armstrong & Kotler. Marketing. Pg 55.
Objectives
The Objectives for Bold Soda and the company are to become established and well known. We sell high quality drinks that are all-natural, and will use that to become known as a healthier alternative to other sodas. These can be mixed for the bar-goers, and also be the perfect drink for the designated driver or anybody who only came for the atmosphere. Only the freshest fruit that pass the test on taste will be allowed to be in the ingredients for the sodas. If we do this, the taste will exceed what the customer likes, and slowly we will build up some customer loyalty.
"Profits can be improved by increasing sales or reducing costs. Sales can be increased by improving the company’s share of domestic and international markets."
"Profits can be improved by increasing sales or reducing costs. Sales can be increased by improving the company’s share of domestic and international markets."
Armstrong and Kotler. Marketing: An Introduction. Pg 43.
"This broad mission leads to a hierarchy of objectives, including business objectives and marketing objectives.........Profits can be improved by increasing sales or reducing costs. Sales can be increased by improving the company’s share of domestic and international markets. These goals then become the company’s current marketing objectives."
"This broad mission leads to a hierarchy of objectives, including business objectives and marketing objectives.........Profits can be improved by increasing sales or reducing costs. Sales can be increased by improving the company’s share of domestic and international markets. These goals then become the company’s current marketing objectives."
Armstrong and Kotler. Marketing: An Introduction. Pg 43.
Week 7 EOC: Business Mission Statement
We make, distribute, and
sell high quality, caffeinated beverages that do not use artificial
flavors. Our business is delighting an building relationships with the
customers that consume our beverages. Our customer is a person who
enjoys the nightlife or stressed out from the pressures of life and
wants to go to a bar for a good time. We offer something for everyone.
Our consumers value high quality and natural flavors, and that is what
is our company will deliver. Each of our three flavors can satisfy in a
mixed alcoholic drink, or even by itself. Our business is local, and
will work at building real, meaningful relationships with people all
over the region. What we deliver is an escape. Dare to escape with Bold.
"Few leaders actually get the point of forging a mission with real grit and meaning. [Mission statements] have largely devolved into fat-headed jargon. Almost no one can figure out what they mean. [So companies] sort of ignore them or gussy up a vague package deal along the lines of: “our mission is to be the best fill-in-the-blank company in our industry.” [Instead, Welch advises, CEOs should] make a choice about how your company will win. Don’t mince words! Remember Nike’s old mission, “Crush Reebok”? That’s directionally correct. And Google’s mission statement isn’t something namby-pamby like “To be the world’s best search engine.” It’s “To organize the world’s information and make it universally accessible and useful.” That’s simultaneously inspirational, achievable, and completely graspable." Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing.
“A Mission Statement is a statement of the organization’s purpose—what it wants to accomplish in the larger environment.”
Armstrong & Kotler Pg. 39
"Few leaders actually get the point of forging a mission with real grit and meaning. [Mission statements] have largely devolved into fat-headed jargon. Almost no one can figure out what they mean. [So companies] sort of ignore them or gussy up a vague package deal along the lines of: “our mission is to be the best fill-in-the-blank company in our industry.” [Instead, Welch advises, CEOs should] make a choice about how your company will win. Don’t mince words! Remember Nike’s old mission, “Crush Reebok”? That’s directionally correct. And Google’s mission statement isn’t something namby-pamby like “To be the world’s best search engine.” It’s “To organize the world’s information and make it universally accessible and useful.” That’s simultaneously inspirational, achievable, and completely graspable." Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing.
“A Mission Statement is a statement of the organization’s purpose—what it wants to accomplish in the larger environment.”
Armstrong & Kotler Pg. 39
Friday, March 8, 2013
Week 7: The Pitch
"During the presentation step of the selling process, the salesperson tells the “value story” to the buyer, showing how the company’s offer solves the customer’s problems. The customer-solution approach fits better with today’s relationship marketing focus than does a hard-sell or glad-handing approach. Buyers today want answers, not smiles; results, not razzle-dazzle. Moreover, they don’t want just products. More than ever in today’s economic climate, buyers want to know how those products will add value to their businesses. They want salespeople who listen to their concerns, understand their needs, and respond with the right products and services." (Armstrong and Kotler. Marketing). Taking all of this into account, I will begin my own presentation without so much of the "razzle-dazzle". The company's product is named Bold Soda. Bold Sodas are fizzy, often carbonated, drinks that can easily be mixed with alcohol in bars for delicious, satisfying drinks that offer an escape from daily life. There are three flavors: Crazy Piña, Lively Ginger, and Brazen Lime. All of the drinks will be made of natural flavors, nothing artificial.
"To reach that consumer, Conill devised a campaign that catered to El Jefe’s penchant for the national Mexican sport of charreadas (Mexican-style rodeos). The pitch: The Tundra is as tough as the guy who gets behind the wheel.Conill’s campaign for Lexus, couldn’t be more different. For Lexus, the agency targeted the luxury market in Miami, reaching out to affluent Hispanics who appreciate refinement, art, and culture with a campaign that centered on art and design. The result was a brightly displayed Lexus print campaign placed in local Hispanic lifestyle magazines that helped move Lexus from the fourth-ranked player in the Miami luxury car market to market leader in only 18 months."
"To reach that consumer, Conill devised a campaign that catered to El Jefe’s penchant for the national Mexican sport of charreadas (Mexican-style rodeos). The pitch: The Tundra is as tough as the guy who gets behind the wheel.Conill’s campaign for Lexus, couldn’t be more different. For Lexus, the agency targeted the luxury market in Miami, reaching out to affluent Hispanics who appreciate refinement, art, and culture with a campaign that centered on art and design. The result was a brightly displayed Lexus print campaign placed in local Hispanic lifestyle magazines that helped move Lexus from the fourth-ranked player in the Miami luxury car market to market leader in only 18 months."
Gary Armstrong and Philip Kotler. Marketing: An Introduction for Education Management Corporation, 10th Edition.
"During the presentation step of the selling process, the salesperson tells the “value story” to the buyer, showing how the company’s offer solves the customer’s problems. The customer-solution approach fits better with today’s relationship marketing focus than does a hard-sell or glad-handing approach. Buyers today want answers, not smiles; results, not razzle-dazzle. Moreover, they don’t want just products. More than ever in today’s economic climate, buyers want to know how those products will add value to their businesses. They want salespeople who listen to their concerns, understand their needs, and respond with the right products and services." (Armstrong and Kotler. Marketing)
"During the presentation step of the selling process, the salesperson tells the “value story” to the buyer, showing how the company’s offer solves the customer’s problems. The customer-solution approach fits better with today’s relationship marketing focus than does a hard-sell or glad-handing approach. Buyers today want answers, not smiles; results, not razzle-dazzle. Moreover, they don’t want just products. More than ever in today’s economic climate, buyers want to know how those products will add value to their businesses. They want salespeople who listen to their concerns, understand their needs, and respond with the right products and services." (Armstrong and Kotler. Marketing)
Tuesday, March 5, 2013
Week 6 EOC : Me Times Three
There are three things that I possess that I would say helps define me.
The first thing that I would say helps define who I am is my wedding ring. My ring is partly my engagement ring and then the wedding ring that interlocks. It is beautiful, and I feel like the design and the size is perfect for me, but that is not why it helps define me. This ring symbolizes me and my husband's love for each other. It is a culmination of all of the struggles that we went through to get to that point on that evening in February where we could finally make it official. It is curved, and then the bands meet in the middle, which is a great way to describe our relationship, coming united from two different worlds. I don't wear at work because I am afraid that it will get hit by something, but I always feel "naked," for the lack of a better term, without it on my second finger from the left.
If somebody asked me what possessions I would first save in case of a fire, I would respond with this book, photos and my wedding ring (although I'd likely already be wearing the ring). The Phantom of the Opera is my favorite musical. I have, using this book, learned the entire play and all of the songs. I can correct a wrong lyric, which can (and often does) drive others crazy.The book was bought by my mother when she first took me to see the show when I was eight years old. The musical is what inspired me to begin singing. Chorus and singing were, until very recently, a huge part of my life.
My digital camera is very important to me. It was the first thing I bought when I earned a few paychecks at my first job ever. I already owned a little purple Nikon but I had noticed the quality of the pictures was greatly diminishing. I saw this camera online and fell in love with it. First, I saved up, did tons of research, and ended up deciding on this great little point-and-shoot. I bought it off the display at Costco and have never regretted it. It documents most of the important moments in my life. I love taking pictures and I love being able to document my family and friends' lives with me. Friends will get annoyed and call me the paparazzi but later they come to appreciate that someone took the time to record these things.
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| http://www.gordonsjewelers.com/product/index.jsp?productId=12453564 |
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| http://www.amazon.com/Complete-Phantom-Opera-George-Perry/dp/0805006575 |
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| http://www.amazon.com/Panasonic-LUMIX-DMC-ZS6-DIGITAL-CAMERA/dp/B003NYRMGA |
Thursday, February 28, 2013
Week 5 EOC: Social Networks and Job Hunting
Week 5 EOC: Social Networks and Job Hunting
· Read Marketing at work 5.1 Brand Ambassadors: Employing Real Customers to Get Out the Word on Chapter 5 2. Understanding Consumer and Business Buyer Behavior. (page 15 of 59 — printed page 143)
· Please evaluate the article Job Recruiters Turn to Facebook to Find Candidates - WSJ.pdf found in the dropbox.
· Develop a 300 word blog post citing both the article and your book.
“Facebook’s use as a job recruitment tool remains small, but its appeal may be growing. Some recruiters say they have all but eliminated their spending on job boards, which can charge a few hundred dollars per job posting… Others note that while LinkedIn contains a more comprehensive resume database, candidates tend to value referrals from their connections on Facebook more.”
Joe Light, The Wall Street Journal.
“Facebook’s use as a job recruitment tool remains small, but its appeal may be growing. Some recruiters say they have all but eliminated their spending on job boards, which can charge a few hundred dollars per job posting… Others note that while LinkedIn contains a more comprehensive resume database, candidates tend to value referrals from their connections on Facebook more.”
Joe Light, The Wall Street Journal.
Tuesday, February 26, 2013
Week 4 EOC: Business to Business
Although business to business and consumer marketing is they are both processes that cater to their clientele. Business to Business however, is much more complicated. Where a company may spend a few months wooing potential consumers, ultimately it is normally a decision that is not as thought out. Business to Business marketing may take years and years and years on both parts of the equation. GE (General Electric) is much more than many people think it is. There are washers and dryers and financial sides, but there are also locomotives.
“In the business buying process, business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands. Business-to-business (B-to-B) marketers must do their best to understand business markets and business buyer behavior. Then, like businesses that sell to final buyers, they must build profitable relationships with business customers by creating superior customer value.”
“In the business buying process, business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands. Business-to-business (B-to-B) marketers must do their best to understand business markets and business buyer behavior. Then, like businesses that sell to final buyers, they must build profitable relationships with business customers by creating superior customer value.”
Thursday, February 21, 2013
Week 3 EOC: My Demographics
I am a Millennial (also called a Gen Y-er). I am one of the children of baby boomers. I am very savvy with technology. Much like 91 percent of the other Millennials (74), I was raised knowing how to surf the internet, fix the famous blue screens that used to appear on computers, using social networking and instant messaging, and knowing how to burn music onto a compact disk. My generation saw the change from floppy disks to the compact disks I previously mentioned. Now there are even DVDs for data. I can handle Windows and Macintosh, as well as the four different smartphone systems (Android, Blackberry, Windows, and iPhone) without much difficulty. Millenials are born between 1977 and the 2000s. The millennials get the honor of teaching these skills to the baby boomers and the Gen X-ers.
“One thing that all of the Millennials have in common is their utter fluency and comfort with digital technology.”
Kotler. Marketing, page 74.
Week 3 EOC: Making Money for Good
Warby Parker is a company similar to TOMS shoes, with its Buy One Give One plan. The company, like many others, sells eyeglasses. The difference is where this company sells the consumer the eyeglasses, a different pair goes to somebody else in need. Over two hundred and fifty thousand pairs have been given out.The company partners with non-profit organizations. In addition, they help train other companies like the non-profit companies to begin their own eye wear business, helping entrepreneurs as well as those in more serious need. Anybody can go here for more information.
"Like Better World Books and Tom’s Shoes, Warby Parker uses the "one for one" model--for every pair of glasses sold, the company gives a pair to someone in need via its nonprofit partners. Founded in 2010, Warby Parker now has 50 employees and has given away over 100,000 pairs of glasses." http://www.fastcoexist.com/1679534/6-companies-that-are-growing-rapidly-while-doing-good
Tuesday, February 19, 2013
Week 2 EOC: Boston Consulting Group - Video Games
The Boston Consulting Group Growth Share Matrix is a diagram that illustrates the different ways that a different product or business can go. It is divided into four sections: the "Stars", the "Cash Cows", the "Dogs", and the "Question Marks".
The "Stars" are the products that have shown a high market share as well as a high growth share. They are the products that have a great chance of becoming "Cash Cow"s later on. The smartphones, tablets, and other mobile based video gaming consoles would be considered in that category. Many gamers in the country are no longer hardcore gamers that want to spend ten hours on a single game. Instead, casual gamers are heavily joining the scene. From the active games and programs on Microsoft's Kinect, to a simple game of Angry Birds or Sudoku on an Android device, these are the devices that will likely have a very bright future.
"While spending on physical retail game sales has been on the decline, digital game sales have risen dramatically. Digital sales — including mobile games for phones and tablets, full games for consoles and handhelds, extra levels and other in-game content — rose 22% in the third quarter of 2012, accounting for $1.4 billion, according to NPD."
USA Today, http://www.usatoday.com/story/tech/gaming/2013/01/26/video-games-2013-nintendo-sony-microsoft/1843903/
The "Cash Cows," is the category that most products should aspire to be. These are the products that do not have to make big changes or investments to keep a large and steady customer base and popularity, and to make great profit. The PlayStation 3 and Xbox 360 systems would both be considered "Cash Cows."
"In some ways 2012 was forgettable for makers of video games played on console systems, either connected to the television or dedicated handhelds. Total retail video game sales plunged 22%, the largest drop amid four straight years of decline, according to market tracking firm NPD Group"
USA Today, http://www.usatoday.com/story/tech/gaming/2013/01/26/video-games-2013-nintendo-sony-microsoft/1843903/
The "Stars" are the products that have shown a high market share as well as a high growth share. They are the products that have a great chance of becoming "Cash Cow"s later on. The smartphones, tablets, and other mobile based video gaming consoles would be considered in that category. Many gamers in the country are no longer hardcore gamers that want to spend ten hours on a single game. Instead, casual gamers are heavily joining the scene. From the active games and programs on Microsoft's Kinect, to a simple game of Angry Birds or Sudoku on an Android device, these are the devices that will likely have a very bright future.
"While spending on physical retail game sales has been on the decline, digital game sales have risen dramatically. Digital sales — including mobile games for phones and tablets, full games for consoles and handhelds, extra levels and other in-game content — rose 22% in the third quarter of 2012, accounting for $1.4 billion, according to NPD."
USA Today, http://www.usatoday.com/story/tech/gaming/2013/01/26/video-games-2013-nintendo-sony-microsoft/1843903/
The "Cash Cows," is the category that most products should aspire to be. These are the products that do not have to make big changes or investments to keep a large and steady customer base and popularity, and to make great profit. The PlayStation 3 and Xbox 360 systems would both be considered "Cash Cows."
"In some ways 2012 was forgettable for makers of video games played on console systems, either connected to the television or dedicated handhelds. Total retail video game sales plunged 22%, the largest drop amid four straight years of decline, according to market tracking firm NPD Group"
USA Today, http://www.usatoday.com/story/tech/gaming/2013/01/26/video-games-2013-nintendo-sony-microsoft/1843903/
Monday, February 18, 2013
Week 1 EOC: Great Customer Service
One instance where I received great customer service was
back in September of the year previous to this one. My husband and I both woke
up that morning just knowing that we needed a new mattress. After much
searching, my husband decided what he wanted the most was a Sleep Number
mattress like the one that his parents owned. I was very much against the idea,
believing that the price was outrageous for what we would be getting. I
promised to at least give it a try, so the day after, we drove over to the store.
When we entered we were told to hold on, and that somebody would be right with
us. … The day after all of this, we went back. This time my husband had made
sure that the person that had helped his parents was working. Mark was his
name. He told us how he did not have to be working at the store; he had more
than enough money to live comfortably. He told us of his back problems and how
the mattresses had so greatly improved his life that he had made the decision
to dedicate his time to helping others find the same happiness. He took me over
to the mattress that analyzes what your body needs and ultimately, what your
number is. He discussed the different stories from previous customers and their
different experiences with each type of mattress…When we came in, I was
complaining of neck problems. He instantly helped me search through pillows
until I found one that was comfortable. He even customized it a little. Then,
Mark called the company and informed them that we needed to extend the 30-day
trial and that I was also exchanging my pillow.
"“A brand, product, or service
is more than just a physical thing. Humans that connect with the brand
add meaning and value to it,” says one marketing executive.
“Successfully managing the customer experience is the ultimate goal,”"
Kotler. Marketing. Page 210.
Kotler. Marketing. Page 210.
Week 1 EOC: My Voice
A design should inspire. A beautiful, well thought-out design should inspire both the client and the customer. I am here to help make that a reality. What I hope to do for clients is to create a great experience for both the client and their potential customers. I will take them both on a journey that will not only delight the eye, but also demonstrate all of the function that is wanted or needed. I will illustrate better, simple layouts to the customer that have just enough pizzazz but much less, or no frustration. I understand how it feels when a person goes to a website and ends up leaving within a few minutes because of just how much there is going on that is not helpful to them. Buttons can be attractive, but they also need to be clickable. Navigation should be easy to read. I will also facilitate the process of transporting the site to a mobile experience. That way, you will have the complete experience not only on the computer, but on tablets, smartphones, and other mobile devices. Interactive media will also take a large part. If you are making the switch from the brick-and-mortar world to the digital world, I would be more than happy to assist you in the process. This is the future, and it is here. I will deliver the best possible complete and visually appealing web experience.
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