1.1
The six components are to identify customer relationships, understand interactions with current customer base, capture data based on transactions, store and integrate customer data usiing IT, identify best customers and leverage customer information.
4.1
Information can be collected for large groups such as company name, size of the group, what the event is and where they would like to hold it. This information can be helpful for a local Hard Rock as they have to information to target specific companies to encourage them to continue to have events and parties with Hard Rock. Another aspect of gathering customer data is the membership clubs they offer. These clubs offer information on local customers to Hard Rock cafes and allow them to target these loyal members and gain their business through discounts, benefits and perks.
Monday, December 15, 2008
Chapter 18 Review and Applications
1.1
I would suggest using a price-skimming method instead because it is a specialty product that should exude higher class and quality. I think they would be more successful in portraying the product that way instead of starting low.
2.1
The three defenses are
Cost: a firm can charge different prices to different customers if the prices represent manufacturing or quantity discount savings
Market conditions: price variations are justified if designed to meet fluid product or market conditions.
Competition: a reduction in price may be necessary to stay even with the competition.
3.5
The information age gives consumers more of an advantage in comparing prices and finding the best and the best quality for the best price. With the advances in technology consumers can find information quickly and efficiently using the web.
5.1
During a recession it can be beneficial to use strategies such as bundling or unbundling; this adds features to a bundle so the consumer feels like theyre getting a better value or value-based pricing is also useful during this time as it stresses to customers that they are getting the best value for their money.
I would suggest using a price-skimming method instead because it is a specialty product that should exude higher class and quality. I think they would be more successful in portraying the product that way instead of starting low.
2.1
The three defenses are
Cost: a firm can charge different prices to different customers if the prices represent manufacturing or quantity discount savings
Market conditions: price variations are justified if designed to meet fluid product or market conditions.
Competition: a reduction in price may be necessary to stay even with the competition.
3.5
The information age gives consumers more of an advantage in comparing prices and finding the best and the best quality for the best price. With the advances in technology consumers can find information quickly and efficiently using the web.
5.1
During a recession it can be beneficial to use strategies such as bundling or unbundling; this adds features to a bundle so the consumer feels like theyre getting a better value or value-based pricing is also useful during this time as it stresses to customers that they are getting the best value for their money.
Click Tracks Observations
1. Similar to google analytics, but does not have the google name association.
2. Has many options as to what and how you can track customers.
3. Great tool for seeing what motivates customers to purchase.
4. Allows the business to see what parts of the website are most effective and what could be taken out.
5. Seems easy to set up and maneuver through the set up wizard.
2. Has many options as to what and how you can track customers.
3. Great tool for seeing what motivates customers to purchase.
4. Allows the business to see what parts of the website are most effective and what could be taken out.
5. Seems easy to set up and maneuver through the set up wizard.
Google Analytics Observations
1. Has the google name attached to it so it conveyst that company's image as well.
2. Easy to follow allow and understand.
3. Helpful tools for analyzing where business it coming from.
4. Similar to Click tracks information.
5. Helps marketers and advertisers find out useful information as to what is working with their tactics and what is not as well as what areas are having the most effect on business.
2. Easy to follow allow and understand.
3. Helpful tools for analyzing where business it coming from.
4. Similar to Click tracks information.
5. Helps marketers and advertisers find out useful information as to what is working with their tactics and what is not as well as what areas are having the most effect on business.
Monday, December 8, 2008
Chapter 17 Review and Apps
2.1
Profit oriented: an example would be a company introducing a new product that they are wanting to not only break even but make a profit on. When the X-box or Playstation 2 and 3's first came out they were priced high not only to make a profit but to show their newness and their quality.
Sales oriented: a company that wants to make money in the case that they are unsure of their future or strapped for cash will sell as much as they can or to sell off excess inventory. Excess inventory is sold after holidays at places like Target or Wal Mart to boost sales and get rid of extra.
Status Quo: a company in the mature state of their product life cycle would want to keep their price in check with that of competitors. Examples would be products like deodorant, many of those are similarly priced.
3.1
Explain the role of supply and demand in determining price.
There is an inverse relationship with demand and price if the price is low the demand is high if the price is high the demand is lower. In the case of prestige products they may be directly correlated that when price goes up demand also goes up.
3.2
If a firm can increase its total revenue by raising its price, shouldn't it do so?
Of course firms want to make the greatest amount of revenue but by raising prices they may alienate their target market and drive away customers they once had until they raised their prices too high.
3.3
Explain the concepts of elastic and inelastic demand. Why should managers understand these concepts?
Elastic demand means that as price flutuates so does the demand for the product. Managers must know this so that they take this into consideration when adjusting prices on products. Will increasing the price significantly drop the demand? If the product is inelastic then the change is price will have little to no effect on the demand for the product. Managers need to realize if their product is elastic or inelastic.
Profit oriented: an example would be a company introducing a new product that they are wanting to not only break even but make a profit on. When the X-box or Playstation 2 and 3's first came out they were priced high not only to make a profit but to show their newness and their quality.
Sales oriented: a company that wants to make money in the case that they are unsure of their future or strapped for cash will sell as much as they can or to sell off excess inventory. Excess inventory is sold after holidays at places like Target or Wal Mart to boost sales and get rid of extra.
Status Quo: a company in the mature state of their product life cycle would want to keep their price in check with that of competitors. Examples would be products like deodorant, many of those are similarly priced.
3.1
Explain the role of supply and demand in determining price.
There is an inverse relationship with demand and price if the price is low the demand is high if the price is high the demand is lower. In the case of prestige products they may be directly correlated that when price goes up demand also goes up.
3.2
If a firm can increase its total revenue by raising its price, shouldn't it do so?
Of course firms want to make the greatest amount of revenue but by raising prices they may alienate their target market and drive away customers they once had until they raised their prices too high.
3.3
Explain the concepts of elastic and inelastic demand. Why should managers understand these concepts?
Elastic demand means that as price flutuates so does the demand for the product. Managers must know this so that they take this into consideration when adjusting prices on products. Will increasing the price significantly drop the demand? If the product is inelastic then the change is price will have little to no effect on the demand for the product. Managers need to realize if their product is elastic or inelastic.
Chapter 14 Review and Applications
3.1
Why is understanding the target market a crucial aspect of the communication process?
Understanding the target market is a crucial aspect of the communication process because if you do not understand who you are targeting than you may miscommunicate and in turn turn off the customer you are trying to attract.
4.1
Why might a marketing manager choose to promote his or her product using persuasion? Give some current examples of persuasive promotion.
A marketing manager would want to promote his or her product using persuasion in a mature state when more competitors with similar products are coming into the market. Another time would be in the decline stage of a product so as to persuade customers back to use their product. An example of persuasive marketing would be laundry detergents that compare their product with another leading brand and demonstrate the superiority of their product.
5.1
Discuss the AIDA concept. How do these different stages of consumer involvement affect the promotional mix?
The AIDA concept discusses Attention, Interest, Desire, and Action. In responding to a marketing message a consumer's attention needs to be drawn to it, they need to be interested in continuing to read or look at the promotional material, create a desire to want to take action and purchase the good or service.
5.2
How does a Web site's ease of use affect its ability to create attention, interest, desire, and action? Visit the kitchedn and bath pages of Kohler's Web site and determine how successful the company is at moving consumers through the AIDA process.
Attention is definitley peaked in looking at the website. The images are interesting and innovative, colorful and somewhat futuristic making the viewer want to browse the through the products and even design their own kitchen or bath. The desire for a new refurbished, modern look is also there as well. The only thing I dont exactly see is a drive to make the consumer want to take action. The online store only sells accessories and does not entirely encourage sales.
Why is understanding the target market a crucial aspect of the communication process?
Understanding the target market is a crucial aspect of the communication process because if you do not understand who you are targeting than you may miscommunicate and in turn turn off the customer you are trying to attract.
4.1
Why might a marketing manager choose to promote his or her product using persuasion? Give some current examples of persuasive promotion.
A marketing manager would want to promote his or her product using persuasion in a mature state when more competitors with similar products are coming into the market. Another time would be in the decline stage of a product so as to persuade customers back to use their product. An example of persuasive marketing would be laundry detergents that compare their product with another leading brand and demonstrate the superiority of their product.
5.1
Discuss the AIDA concept. How do these different stages of consumer involvement affect the promotional mix?
The AIDA concept discusses Attention, Interest, Desire, and Action. In responding to a marketing message a consumer's attention needs to be drawn to it, they need to be interested in continuing to read or look at the promotional material, create a desire to want to take action and purchase the good or service.
5.2
How does a Web site's ease of use affect its ability to create attention, interest, desire, and action? Visit the kitchedn and bath pages of Kohler's Web site and determine how successful the company is at moving consumers through the AIDA process.
Attention is definitley peaked in looking at the website. The images are interesting and innovative, colorful and somewhat futuristic making the viewer want to browse the through the products and even design their own kitchen or bath. The desire for a new refurbished, modern look is also there as well. The only thing I dont exactly see is a drive to make the consumer want to take action. The online store only sells accessories and does not entirely encourage sales.
Chapter 12 Review and Applications
Chapter 12
2.1
What kind of marketing channel functions can be performed over the Internet? Why do you think so?
Transactional functions, logistical functions and facilitating functions are the three marketing channel functions of these three using the Internet these days all of them can be done. Mostly though I would say transactional and facilitating functions would be performed. Contacting and promoting to potential customers as well as advertising to solicite new customers are done with ease via the internet using borders on web pages, contacting using emails and follow up emails from orders. Facilitating functions can also assist in gathering information about other channel members and consumers, financing can also be done using the internet. So much can be done electronically these days so storing, sorting and distribution can also somewhat be done using the internet as well at least keeping track of orders as well as inventory.
3.1
Describe the most likely marketing channel structure for each of these consumer products: candy bars, Tupperware products, nonfiction books, new automobiles, farmers' market produce, and stereo equipment. Now construct alternative channels for these same products.
Candy bars: Retail or wholesale
Tupperware: Retail or Using an agent
Nonfiction books: Retail or wholesale
New Autos: Retail or alternatively perhaps an agent
Farmers' market produce: Direct or possibly retail
Stereo equipment: Retail or wholesale
2.1
What kind of marketing channel functions can be performed over the Internet? Why do you think so?
Transactional functions, logistical functions and facilitating functions are the three marketing channel functions of these three using the Internet these days all of them can be done. Mostly though I would say transactional and facilitating functions would be performed. Contacting and promoting to potential customers as well as advertising to solicite new customers are done with ease via the internet using borders on web pages, contacting using emails and follow up emails from orders. Facilitating functions can also assist in gathering information about other channel members and consumers, financing can also be done using the internet. So much can be done electronically these days so storing, sorting and distribution can also somewhat be done using the internet as well at least keeping track of orders as well as inventory.
3.1
Describe the most likely marketing channel structure for each of these consumer products: candy bars, Tupperware products, nonfiction books, new automobiles, farmers' market produce, and stereo equipment. Now construct alternative channels for these same products.
Candy bars: Retail or wholesale
Tupperware: Retail or Using an agent
Nonfiction books: Retail or wholesale
New Autos: Retail or alternatively perhaps an agent
Farmers' market produce: Direct or possibly retail
Stereo equipment: Retail or wholesale
Constant Contact Observations
1. I liked the ease of importing contacts from outlook, word, excel just about anything.
2. There were many similarities between the marketing and the surveys which makes it easy to work with both.
3. I liked the ability to customize the pages with your company's logos, pictures, etc.
4. I liked the statistics that you can view to see who is looking at your marketing and what links they are using.
5. I liked the pre set questions they had and the templates to help your business get started with using this product.
2. There were many similarities between the marketing and the surveys which makes it easy to work with both.
3. I liked the ability to customize the pages with your company's logos, pictures, etc.
4. I liked the statistics that you can view to see who is looking at your marketing and what links they are using.
5. I liked the pre set questions they had and the templates to help your business get started with using this product.
Monday, December 1, 2008
Chapter 11 Application Exercise
Ch 11
Application Exercise
1.
100% physical good
New car………mainly a good but usually there is a warranty or two that go with it that would be a service
Designer jeans…..good completely.
100% service
Car oil change….service completely.
Dress dry cleaning……service completely.
Haircut………service.
Tax preparation software…..a tangible good, but ultimately provides you a service.
College education……….a service, no tangible good except maybe a diploma.
2.
Easy to access quality……………………………..................................................difficult to assess
New car, designer jeans, dry cleaning, haircut, tax prep, oil change, college education
3.
It is easier to assess the quality of a good than it is to assess the quality of a service. Since services are intangible it is harder to gauge quality. Some goods are also easier to gauge quality than others.
Application Exercise
1.
100% physical good
New car………mainly a good but usually there is a warranty or two that go with it that would be a service
Designer jeans…..good completely.
100% service
Car oil change….service completely.
Dress dry cleaning……service completely.
Haircut………service.
Tax preparation software…..a tangible good, but ultimately provides you a service.
College education……….a service, no tangible good except maybe a diploma.
2.
Easy to access quality……………………………..................................................difficult to assess
New car, designer jeans, dry cleaning, haircut, tax prep, oil change, college education
3.
It is easier to assess the quality of a good than it is to assess the quality of a service. Since services are intangible it is harder to gauge quality. Some goods are also easier to gauge quality than others.
Chapter 11 Questions
Ch 11
1.1
Service providing industries account for the largest numbers. Yes the numbers support the information in this chapter.
2.1
Some intangibles for a bank would be APRs, APYs,locations of branches, locations of ATMs, benefits that come with having a savings account or a checking account, are free checks available, does it cost anything to open accounts? Can I get change for my business at anytime? What are the hours, are they convenient?
3.1
Movie Theater
Gap 1: customers’ expectations-management’s perception of those expectations
My expectations for going to the movie theater were to see a movie, be able to see it and hear it, have a clean area to view it in and have a quiet environment. Management’s perceptions of these expectations is fairly similar.
Gap 2: Management’s perception of what the customer wants and specifications for service quality
Management believes that customers want options for movies to see, times to see them, comfortable seating, loud enough, able to see the movie, have snacks for during the movie and facilities to use during the movie at a reasonable price.
Gap 3: service quality specifications and delivery of the service
The movie theater is pretty good at what they do, their employees kept the lines moving swiftly, provided plenty of times and theaters for viewing movies and the theaters were clean, all employees seemed to be doing their jobs accordingly.
Gap 4: service delivery and what the company promised to the customer through external communication
External communication was only the advertising of what movies were playing when and that was fulfilled.
Gap 5: customers’ service expectations and their perceptions of service performance
Overall a typical, successful trip to the theater. I didn’t have to wait in long lines, I was able to get to the movie I wanted at a time that worked for me and they had hot buttery popcorn for me! :)
1.1
Service providing industries account for the largest numbers. Yes the numbers support the information in this chapter.
2.1
Some intangibles for a bank would be APRs, APYs,locations of branches, locations of ATMs, benefits that come with having a savings account or a checking account, are free checks available, does it cost anything to open accounts? Can I get change for my business at anytime? What are the hours, are they convenient?
3.1
Movie Theater
Gap 1: customers’ expectations-management’s perception of those expectations
My expectations for going to the movie theater were to see a movie, be able to see it and hear it, have a clean area to view it in and have a quiet environment. Management’s perceptions of these expectations is fairly similar.
Gap 2: Management’s perception of what the customer wants and specifications for service quality
Management believes that customers want options for movies to see, times to see them, comfortable seating, loud enough, able to see the movie, have snacks for during the movie and facilities to use during the movie at a reasonable price.
Gap 3: service quality specifications and delivery of the service
The movie theater is pretty good at what they do, their employees kept the lines moving swiftly, provided plenty of times and theaters for viewing movies and the theaters were clean, all employees seemed to be doing their jobs accordingly.
Gap 4: service delivery and what the company promised to the customer through external communication
External communication was only the advertising of what movies were playing when and that was fulfilled.
Gap 5: customers’ service expectations and their perceptions of service performance
Overall a typical, successful trip to the theater. I didn’t have to wait in long lines, I was able to get to the movie I wanted at a time that worked for me and they had hot buttery popcorn for me! :)
Chapter 10 Questions
Ch 10
5.1
Some products that have had some time gaining in popularity due to complexity, compatibility, relative advantage, observability, and/or trialability. Crystal Pepsi is an example of trialability that failed. No one grabbed onto the idea of Crystal Pepsi. A product that has gained in popularity through observability are the Ed Hardy brand as well as Seven jeans brand. These have been around for some time but because of their high cost they have only gained in popularity through celebrities wearing these brands. Complexity products such as a picture phone that came out in the 1960’s was too complex for a market that wasn’t ready for that product.
5.2
I would say I typically follow the early adopters or early majority when it comes to my adoption behavior. I tend to see what other people are saying about new products before I jump right in but I do like new, exciting technologies and like to be on the fore front of these things.
6.1
Cheerios is offering benefits to new parents, for kids, for families and for adults. They have new flavors and boast the health benefits that cheerios provides. They even have a plan to lower cholesterol and coupons to help you purchase cheerios to do that. They have different fun recipes that include their brands as well.
5.1
Some products that have had some time gaining in popularity due to complexity, compatibility, relative advantage, observability, and/or trialability. Crystal Pepsi is an example of trialability that failed. No one grabbed onto the idea of Crystal Pepsi. A product that has gained in popularity through observability are the Ed Hardy brand as well as Seven jeans brand. These have been around for some time but because of their high cost they have only gained in popularity through celebrities wearing these brands. Complexity products such as a picture phone that came out in the 1960’s was too complex for a market that wasn’t ready for that product.
5.2
I would say I typically follow the early adopters or early majority when it comes to my adoption behavior. I tend to see what other people are saying about new products before I jump right in but I do like new, exciting technologies and like to be on the fore front of these things.
6.1
Cheerios is offering benefits to new parents, for kids, for families and for adults. They have new flavors and boast the health benefits that cheerios provides. They even have a plan to lower cholesterol and coupons to help you purchase cheerios to do that. They have different fun recipes that include their brands as well.
5 Observations Tipping Point
1. Good examples of the phenomena and how similar they are to disease catching, interesting comparison.
2. Interesting how he describes teen smoking as inevitable and should be considered benign.
3. I like the stickiness factor, it’s a good way to describe that catchiness.
4. Airwalk essentially sold out and became mainstream instead of being a unique trendy hip brand.
5. The three key factors he describes are interesting factors in the popularity of something as well. Connectors, mavens and salesmen all influencing the actions of others to gain the popularity of something.
2. Interesting how he describes teen smoking as inevitable and should be considered benign.
3. I like the stickiness factor, it’s a good way to describe that catchiness.
4. Airwalk essentially sold out and became mainstream instead of being a unique trendy hip brand.
5. The three key factors he describes are interesting factors in the popularity of something as well. Connectors, mavens and salesmen all influencing the actions of others to gain the popularity of something.
Monday, November 24, 2008
Chapter 9 Applications
2.1
Coca Cola: convenience, easily found at gas stations and stores all over
Car stereo: specialty, many different types of stereos usually only bought for certain characteristics that are desirable to the consumer such as features like cd player or speakers included, sub woofers included, bass and treble adjusters, etc.
Winter coat: shopping, I would consider this heterogeneous because there are many different types and certain features such as length of the coat, warmth of the coat, style of the coat for skiing and outdoor activities or for dressy occasions
Pair of shoes: specialty/shopping, same reason as above. Shoes are highly heterogeneous products as there are several styles and that would be the main factor in deciding
Life insurance: unsought, not something many people think about purchasing or desire purchasing.
Blue jeans: shopping, again many varieties and styles to choose from.
Fast-food hamburgers: convenience, McDonalds and Burger Kings are located far and wide!
Shampoo: convenience/shopping, easy to find, typically inexpensive but there are certain things that draw people to specific shampoos such as volumizing, smoothing, conditioning, for color treated hair and more.
Canned vegetables: convenience/shopping, fairly homogeneous typically only differentiated by price.
Curtains: unsought/shopping, not something most people typically go shopping for, but could also be a shopping product as there are many types and styles for people to choose from should they desire new curtains.
4.2
Hormel uses its website to promote its brands by offering recipes for many of them as well as having many different options such as snacks, weeknight meals, convienent meals, weekend meals, etc and having links to specific brands websites. I would say the website focuses more on the brands available and less on Hormel as a company. Spam seems to embrace the joke and portrays itself as a hip food alternative. They have contests for new recipes for Spam and they have a large popularity in Hawaii. They have museums as well as Spam mobile which travels around the country. Because SPAM has been the source of jokes people know the name and may be curious about how it actually tastes.
5.1
Looking at a Joy dishwashing liquid's packaging, we see that it is plastic and protects the soap inside as well as of course containing the soap, the bottle promotes the product as it says Extra cleaning power!, ultra concentrated with bleach alternative as well as stating its citrus burst smell. The packaging is similar and recognizable as a dishwashing soap and similar to other smells that the Joy brand carries. The shape of the Joy bottle is contouring for ease in dispensing the soap, the plastic top facilitates allowing small amounts of soap and not over pouring. The plastic container and the recycle sign allows for recycling of this product's container once the soap has been used up.
6.1
Countries Levis is in include Belgium, the Czech Republic, Denmark, Spain, Finland, France, Greece, Hungary, Italy, Ireland, Norwary, Netherlands, Poland, Portugal, Sweden, UK, Argentina, Brazil, Chile, Colombia, Mexico, Ecuador, Paraguay, Uruguay, Peru, Venezuela, Australia, China, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Phillippines, Pakistan, Singapore, Taiwan and Canada. Differences between US and UK are that there are different trends in the jeans wear, more styles for the UK. The UK site seems more geared at young adults and trendsetters with music and flashy graphics, the US site seems more family oriented.
Coca Cola: convenience, easily found at gas stations and stores all over
Car stereo: specialty, many different types of stereos usually only bought for certain characteristics that are desirable to the consumer such as features like cd player or speakers included, sub woofers included, bass and treble adjusters, etc.
Winter coat: shopping, I would consider this heterogeneous because there are many different types and certain features such as length of the coat, warmth of the coat, style of the coat for skiing and outdoor activities or for dressy occasions
Pair of shoes: specialty/shopping, same reason as above. Shoes are highly heterogeneous products as there are several styles and that would be the main factor in deciding
Life insurance: unsought, not something many people think about purchasing or desire purchasing.
Blue jeans: shopping, again many varieties and styles to choose from.
Fast-food hamburgers: convenience, McDonalds and Burger Kings are located far and wide!
Shampoo: convenience/shopping, easy to find, typically inexpensive but there are certain things that draw people to specific shampoos such as volumizing, smoothing, conditioning, for color treated hair and more.
Canned vegetables: convenience/shopping, fairly homogeneous typically only differentiated by price.
Curtains: unsought/shopping, not something most people typically go shopping for, but could also be a shopping product as there are many types and styles for people to choose from should they desire new curtains.
4.2
Hormel uses its website to promote its brands by offering recipes for many of them as well as having many different options such as snacks, weeknight meals, convienent meals, weekend meals, etc and having links to specific brands websites. I would say the website focuses more on the brands available and less on Hormel as a company. Spam seems to embrace the joke and portrays itself as a hip food alternative. They have contests for new recipes for Spam and they have a large popularity in Hawaii. They have museums as well as Spam mobile which travels around the country. Because SPAM has been the source of jokes people know the name and may be curious about how it actually tastes.
5.1
Looking at a Joy dishwashing liquid's packaging, we see that it is plastic and protects the soap inside as well as of course containing the soap, the bottle promotes the product as it says Extra cleaning power!, ultra concentrated with bleach alternative as well as stating its citrus burst smell. The packaging is similar and recognizable as a dishwashing soap and similar to other smells that the Joy brand carries. The shape of the Joy bottle is contouring for ease in dispensing the soap, the plastic top facilitates allowing small amounts of soap and not over pouring. The plastic container and the recycle sign allows for recycling of this product's container once the soap has been used up.
6.1
Countries Levis is in include Belgium, the Czech Republic, Denmark, Spain, Finland, France, Greece, Hungary, Italy, Ireland, Norwary, Netherlands, Poland, Portugal, Sweden, UK, Argentina, Brazil, Chile, Colombia, Mexico, Ecuador, Paraguay, Uruguay, Peru, Venezuela, Australia, China, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Phillippines, Pakistan, Singapore, Taiwan and Canada. Differences between US and UK are that there are different trends in the jeans wear, more styles for the UK. The UK site seems more geared at young adults and trendsetters with music and flashy graphics, the US site seems more family oriented.
Entrepreneurship Case Viva Las Vegas
1. The LVCVA bases their segmenting on what travelers value such as shorter trips over longer trips, ethnic groups that traditionally dont visit Las Vegas, travel preferences, as well as lucrative metropolitan areas.
2. The LVCVA uses a multisegment targeting I would say. They see specific targets and follow the data to support it. There are certain groups of people that would go to Vegas and by locating these groups and what they value, the LVCVA is able to capitalize on groups that may have not thought of Vegas as a vacation opportunity. I dont think they should be concerned about cannibalization because different attractions would only benefit Las Vegas such as targeting people that would go to shows but that also would go for the gambling this only benefits Vegas' economy and could encourage repeat visits.
3. Segmenting the market by lifestyle I would categorize groups such as younger club goers, drinkers, gamblers, show goers, foodies, and leisurely people. By dividing this segment into lifestyle categories and why people would go to Vegas you can strategically market to those specifics and offer deals on the things that these people would be looking for in a trip to Vegas.
4. I think the LVCVA is so successful because they are looking at multiple markets and what each is valuing in a trip to Vegas. What things are these people looking for in a vacation. They have looked at their data and realized where they can improve and that was in the Asian and African American markets.
2. The LVCVA uses a multisegment targeting I would say. They see specific targets and follow the data to support it. There are certain groups of people that would go to Vegas and by locating these groups and what they value, the LVCVA is able to capitalize on groups that may have not thought of Vegas as a vacation opportunity. I dont think they should be concerned about cannibalization because different attractions would only benefit Las Vegas such as targeting people that would go to shows but that also would go for the gambling this only benefits Vegas' economy and could encourage repeat visits.
3. Segmenting the market by lifestyle I would categorize groups such as younger club goers, drinkers, gamblers, show goers, foodies, and leisurely people. By dividing this segment into lifestyle categories and why people would go to Vegas you can strategically market to those specifics and offer deals on the things that these people would be looking for in a trip to Vegas.
4. I think the LVCVA is so successful because they are looking at multiple markets and what each is valuing in a trip to Vegas. What things are these people looking for in a vacation. They have looked at their data and realized where they can improve and that was in the Asian and African American markets.
Chapter 7 Review and Applications
7.2
Both websites advertise sales as well as free shipping on orders over a certain amount. Target definitely focuses on their designers as they have links to the different designers they have designing for Target. JC Penney is more brand focused as they have links to the different brands they offer. Penneys has more brands they offer than Target so it makes sense that they would focus on brands and Target on the designers they have. Targets website is more complicated which could deter some people from wanting to shop online with them. In online purchasing I would that JC Penney's website is easier to work with and better to browse through for women's clothing. I think that they would win the 25 to 35 year old women category.
9.1
I chose rum for my product category. Three different brands would be Captain Morgan, Bacardi, and Sailor Jerry. Bacardi focuses on the several flavors they offer and how to use these different flavors in a variety of drinks stressing the use or application position. During the summer time they marketed the mojito drink and how Bacardi could be used in mojitos. Their commercials and ads tend to feature young, good looking coeds partying and having a good time. Captain Morgan does not use different flavors but has a select few other rums available that have different strengths in alcohol volume as well a few different tastes. They also use their "mascot" of the Captain to make themselves recognizable and memorable. Both Captain and Bacardi have good looking people in their ads out drinking and having fun. Both also use street teams that encourage the drinking of their products. Bacardi continues to add flavors and is known for that attribute. Captain continues to use its traditional darker rums. These would be unique attributes. Sailor Jerry prides itself on one well made rum. They use the history of a navy seamen "Sailor Jerry" that ran a tattoo shop in Hawaii. This rum is looking at the product user and marketing to tattooed, rock and rollers who want a good rum and none of the froo froo that some other rums may have. Sailor Jerry is simple and offers one rum in different sized bottles. They support tattoos and music mostly and dont run as massive advertising campaigns. There appeal seems to be that they are a unique rum with some history behind it.
Both websites advertise sales as well as free shipping on orders over a certain amount. Target definitely focuses on their designers as they have links to the different designers they have designing for Target. JC Penney is more brand focused as they have links to the different brands they offer. Penneys has more brands they offer than Target so it makes sense that they would focus on brands and Target on the designers they have. Targets website is more complicated which could deter some people from wanting to shop online with them. In online purchasing I would that JC Penney's website is easier to work with and better to browse through for women's clothing. I think that they would win the 25 to 35 year old women category.
9.1
I chose rum for my product category. Three different brands would be Captain Morgan, Bacardi, and Sailor Jerry. Bacardi focuses on the several flavors they offer and how to use these different flavors in a variety of drinks stressing the use or application position. During the summer time they marketed the mojito drink and how Bacardi could be used in mojitos. Their commercials and ads tend to feature young, good looking coeds partying and having a good time. Captain Morgan does not use different flavors but has a select few other rums available that have different strengths in alcohol volume as well a few different tastes. They also use their "mascot" of the Captain to make themselves recognizable and memorable. Both Captain and Bacardi have good looking people in their ads out drinking and having fun. Both also use street teams that encourage the drinking of their products. Bacardi continues to add flavors and is known for that attribute. Captain continues to use its traditional darker rums. These would be unique attributes. Sailor Jerry prides itself on one well made rum. They use the history of a navy seamen "Sailor Jerry" that ran a tattoo shop in Hawaii. This rum is looking at the product user and marketing to tattooed, rock and rollers who want a good rum and none of the froo froo that some other rums may have. Sailor Jerry is simple and offers one rum in different sized bottles. They support tattoos and music mostly and dont run as massive advertising campaigns. There appeal seems to be that they are a unique rum with some history behind it.
Sunday, November 23, 2008
VALS Survey Observations
1. This could be useful to a researcher as it looks at how individuals view change, excitement, new things.
2. It could tell whether the person seeks new fashions or is more interested in classic things.
3. This could allow a researcher to target a person or group of people that fall into a category on specific things such as new fashionable items if someone is an Experiencer/Innovator.
4. This could help a researcher find people who are change leaders and market to them specifically.
5. It shows what motivates people and that can be helpful in deciding how to market a product to a group.
2. It could tell whether the person seeks new fashions or is more interested in classic things.
3. This could allow a researcher to target a person or group of people that fall into a category on specific things such as new fashionable items if someone is an Experiencer/Innovator.
4. This could help a researcher find people who are change leaders and market to them specifically.
5. It shows what motivates people and that can be helpful in deciding how to market a product to a group.
Perceptual mapping Observations
1. Good way to see what customers values are in terms of products.
2. I like that there are not too many factors that it is looking at.
3. I like the ideal concepts plot as it shows what areas customers really want.
4. The void areas show businesses where not launch products or where to pull products.
5. Good way to analyze information that is received directly from the consumer.
2. I like that there are not too many factors that it is looking at.
3. I like the ideal concepts plot as it shows what areas customers really want.
4. The void areas show businesses where not launch products or where to pull products.
5. Good way to analyze information that is received directly from the consumer.
Monday, November 17, 2008
Website Observations for United States Basic Counts American Fact Finder
1. It is interesting the different things they look at such as: now married except separated.
2. More women have been divorced than men.
3. Most of our foreign population is from Latin America.
4. The narrative link is nice because it gives you a picture representation of the data.
5. The largest number of people work in management, professional and related occupations. Surprising!
2. More women have been divorced than men.
3. Most of our foreign population is from Latin America.
4. The narrative link is nice because it gives you a picture representation of the data.
5. The largest number of people work in management, professional and related occupations. Surprising!
Chapter 6 Review and Applications
3.1
Why is relationship or personal selling the best way to promote in business marketing?
People in a highly involved decision making process appreciate someone there to ease their cognitive dissonance. In business marketing you most likely are selling an expensive product or something that is worth discussing. Relationship selling creates a rapport and trust between the individuals involved.
5.1
Explain how a marketer can use the Web site census.gov to convert SIC data to the NAICS.
A marketer can use this website to search for goods and services and find out a vast amount of information such as how many of that type of product was consumed last year, how many companies exist that are selling a product and more. A conversion chart is available for marketers to convert SIC codes to NAICS.
5.2
Pick a product and determine its NAICS code. How easy was it to trace the groups and sectors?
I chose to look up bars. The NAICS code for bars serving alcoholic beverages is 722410. It was fairly easy to search for this. It is interesting that there are more specific codes for bars that serve food, bars that are discos, etc.
Why is relationship or personal selling the best way to promote in business marketing?
People in a highly involved decision making process appreciate someone there to ease their cognitive dissonance. In business marketing you most likely are selling an expensive product or something that is worth discussing. Relationship selling creates a rapport and trust between the individuals involved.
5.1
Explain how a marketer can use the Web site census.gov to convert SIC data to the NAICS.
A marketer can use this website to search for goods and services and find out a vast amount of information such as how many of that type of product was consumed last year, how many companies exist that are selling a product and more. A conversion chart is available for marketers to convert SIC codes to NAICS.
5.2
Pick a product and determine its NAICS code. How easy was it to trace the groups and sectors?
I chose to look up bars. The NAICS code for bars serving alcoholic beverages is 722410. It was fairly easy to search for this. It is interesting that there are more specific codes for bars that serve food, bars that are discos, etc.
Chapter 5 Review and Applications
4.1
Describe the three categories of consumer decision-making behavior. Name typical products for which each type of consumer behavior is used.
The three categories of consumer decision-making behavior are routine response behavior, limited decision making, and extensive decision making.
Routine response behavior consists of the purchase of goods that are low cost and frequently purchased. An example would be toilet paper. Not a whole lot of thought goes into this purchase either we go with the brand on sale or whatever brand we usually purchase.
Limited decision making moves us to the next level on the continuum which is we are familiar with the product but unfamiliar with the current brands available. An example of this would be if the store no longer carries our favorite brand of face wash, but we need that face wash because we are out then we would consider the alternatives available at that time and evaluate to some degree but not very extensively.
Extensive decision making is when we are purchasing something that we are unfamiliar with or that is high in cost such as a car. As a consumer we with evaluate many alternatives and consider many options as well as cost, what features we are looking for, etc. This is a highly involved purchase.
4.2
Describe the level of involvement and the involovement factors likely to be associated with buying a new computer. Do you think Apple's website simplifies or complicates the process for the average consumer? Explain.
This would be a highly involved purchase decision because it is a high cost product that is not regularly purchased. We will evaluate many brands when making this decision as well as the cost and what features we are looking for in that computer. Factors such as what we have purchased in the past will influence our decision, were we happy with the previous computer we had or our family had? How much money we are willing to spend and what we are going to use the computer for, what have other people we know experienced with certain brands and stores? How risky is it for us to purchase this computer, are there warranties available or technical support if something goes wrong?
I find the Apple website to be rather confusing. If you are not aware of the technical jargon associated with Apple and computers it would be difficult to understand what you all are getting with the Mac. The site looks nice and the computers and accessories look good but do not allow you to pick and choose what features are important as well as explain what each aspect means.
6.1
Family members play many different roles in the buying process: initiator, influencer, decision maker, purchaser, and consumer. Identify the person in your family who might play each of these roles in the purchase of a dinner at Pizza Hut, a summer vacation, Froot Loops, Abercrombie and Fitch sweater, golf clubs, an ISP, and a new car.
Pizza Hut: While I was living at home a decision such as this could have been initiated by any one of us. Ultimately the decision was made by my Dad. An influencer in the decision would be all of the kids in the family or whoever had initiated the idea and how badly the rest of us wanted Pizza Hut. In this case my Dad most likely would be the purchaser and all of us that ate the food the consumer.
A summmer vacation: Usually initiated by my parents because they ultimately would be the ones who would be purchasing the vacation, the ultimate decision maker again being them. Influencers would be the kids and where we would like to go. Consumer would be all of us that went on the vacation.
Froot Loops: My parents never would have purchased Froot Loops for us. :) The kids could initiate that we wanted Froot Loops, influence that we wanted Froot Loops but ultimately we would have been shot down as Mom and Dad were the purchasers and would make the decision that we did not need Froot Loops.
Abercrombie and Fitch sweater: As a kid I purchased some of my own clothes but my parents also purchased some of my clothes as well. Most likely I would have bought the A&F sweater with my own money because my parents thought it was too expensive so in that case I would be the initiator, influencer, purchaser, decision maker and consumer.
Golf clubs: I would not buy golf clubs unless they were a gift for someone so in that case I again would be the initiator, influencer, purchaser, decision maker, but not the consumer as they would be a gift. The recipient of the golf clubs could play the role of initiator and influencer as well however.
Internet Service Provider: In our household growing up my Dad made this decision. The kids and my Dad were initiators for this service, influencers were the providers available, Dad the purchaser and decision maker, all of us who used the computer for internet use were the consumers.
A new car: When I purchased my car a couple of years ago, I was the initiator because I needed a new car. Influencers included the different places to purchase vehicles, my uncle because I had him approve of the car first, my dad as an influencer as well because I wanted his approval as well. I was the purchaser, consumer and the decision maker.
8.1
How do beliefs and attitudes influence consumer behavior? How can negative attitudes toward a product be changed? How can marketers alter beliefs about a product? Give some examples of how marketers have changed negative attitudes about a product or added or altered beliefs about a product.
Beliefs and attitudes can influence consumer behavior because this is how we feel about a product, service or brand. Beliefs are harder to change than attitudes. Negative attitudes toward a product can be changed by re routing the opinions people may have about that product. Drawing the attention away from whatever negative perception may exist. An example would be creating new products. Michelob Ultra was created because of people's idea that beer has a lot of calories and people should not drink it because it so high in calories. So to change this idea, Michelob created a new product to cover this issue.
Describe the three categories of consumer decision-making behavior. Name typical products for which each type of consumer behavior is used.
The three categories of consumer decision-making behavior are routine response behavior, limited decision making, and extensive decision making.
Routine response behavior consists of the purchase of goods that are low cost and frequently purchased. An example would be toilet paper. Not a whole lot of thought goes into this purchase either we go with the brand on sale or whatever brand we usually purchase.
Limited decision making moves us to the next level on the continuum which is we are familiar with the product but unfamiliar with the current brands available. An example of this would be if the store no longer carries our favorite brand of face wash, but we need that face wash because we are out then we would consider the alternatives available at that time and evaluate to some degree but not very extensively.
Extensive decision making is when we are purchasing something that we are unfamiliar with or that is high in cost such as a car. As a consumer we with evaluate many alternatives and consider many options as well as cost, what features we are looking for, etc. This is a highly involved purchase.
4.2
Describe the level of involvement and the involovement factors likely to be associated with buying a new computer. Do you think Apple's website simplifies or complicates the process for the average consumer? Explain.
This would be a highly involved purchase decision because it is a high cost product that is not regularly purchased. We will evaluate many brands when making this decision as well as the cost and what features we are looking for in that computer. Factors such as what we have purchased in the past will influence our decision, were we happy with the previous computer we had or our family had? How much money we are willing to spend and what we are going to use the computer for, what have other people we know experienced with certain brands and stores? How risky is it for us to purchase this computer, are there warranties available or technical support if something goes wrong?
I find the Apple website to be rather confusing. If you are not aware of the technical jargon associated with Apple and computers it would be difficult to understand what you all are getting with the Mac. The site looks nice and the computers and accessories look good but do not allow you to pick and choose what features are important as well as explain what each aspect means.
6.1
Family members play many different roles in the buying process: initiator, influencer, decision maker, purchaser, and consumer. Identify the person in your family who might play each of these roles in the purchase of a dinner at Pizza Hut, a summer vacation, Froot Loops, Abercrombie and Fitch sweater, golf clubs, an ISP, and a new car.
Pizza Hut: While I was living at home a decision such as this could have been initiated by any one of us. Ultimately the decision was made by my Dad. An influencer in the decision would be all of the kids in the family or whoever had initiated the idea and how badly the rest of us wanted Pizza Hut. In this case my Dad most likely would be the purchaser and all of us that ate the food the consumer.
A summmer vacation: Usually initiated by my parents because they ultimately would be the ones who would be purchasing the vacation, the ultimate decision maker again being them. Influencers would be the kids and where we would like to go. Consumer would be all of us that went on the vacation.
Froot Loops: My parents never would have purchased Froot Loops for us. :) The kids could initiate that we wanted Froot Loops, influence that we wanted Froot Loops but ultimately we would have been shot down as Mom and Dad were the purchasers and would make the decision that we did not need Froot Loops.
Abercrombie and Fitch sweater: As a kid I purchased some of my own clothes but my parents also purchased some of my clothes as well. Most likely I would have bought the A&F sweater with my own money because my parents thought it was too expensive so in that case I would be the initiator, influencer, purchaser, decision maker and consumer.
Golf clubs: I would not buy golf clubs unless they were a gift for someone so in that case I again would be the initiator, influencer, purchaser, decision maker, but not the consumer as they would be a gift. The recipient of the golf clubs could play the role of initiator and influencer as well however.
Internet Service Provider: In our household growing up my Dad made this decision. The kids and my Dad were initiators for this service, influencers were the providers available, Dad the purchaser and decision maker, all of us who used the computer for internet use were the consumers.
A new car: When I purchased my car a couple of years ago, I was the initiator because I needed a new car. Influencers included the different places to purchase vehicles, my uncle because I had him approve of the car first, my dad as an influencer as well because I wanted his approval as well. I was the purchaser, consumer and the decision maker.
8.1
How do beliefs and attitudes influence consumer behavior? How can negative attitudes toward a product be changed? How can marketers alter beliefs about a product? Give some examples of how marketers have changed negative attitudes about a product or added or altered beliefs about a product.
Beliefs and attitudes can influence consumer behavior because this is how we feel about a product, service or brand. Beliefs are harder to change than attitudes. Negative attitudes toward a product can be changed by re routing the opinions people may have about that product. Drawing the attention away from whatever negative perception may exist. An example would be creating new products. Michelob Ultra was created because of people's idea that beer has a lot of calories and people should not drink it because it so high in calories. So to change this idea, Michelob created a new product to cover this issue.
Wednesday, November 12, 2008
Chapter 4 Vermont Teddy Bear Factory
Chapter 4 Marketing Miscue Vermont Teddy Bear
1. Yes, I would say that they did violate the requirements of corporate social responsibility. They should have thought through what types of feedback they may receive in response to the strait jacket and commitment report. Although, the idea is clever, they should have taken into account how that image would be perceived by some. Especially with Robert as a chair on the hospital board it looks as though they were not being sensitive to the mentally ill as well as not considering all the impact the strait jacket image could imply.
2. In some ways I would say that the controversy was positive for the company, for those that liked the concept of the strait jacket bear it was a positive but the aftermath of the controversy was negative. Robert lost a coveted position on the board of a large Vermont hospital and possibly the respect many colleagues. As the CEO of the company her image may have been tarnished in some ways as being arrogant and insensitive, which in turn affects her company and their image as well. Overall I would say that the “Crazy for You” bear was a negative choice on the part of the Vermont Teddy Bear factory. They could have used the slogan but altered the accessories associated with the bear.
1. Yes, I would say that they did violate the requirements of corporate social responsibility. They should have thought through what types of feedback they may receive in response to the strait jacket and commitment report. Although, the idea is clever, they should have taken into account how that image would be perceived by some. Especially with Robert as a chair on the hospital board it looks as though they were not being sensitive to the mentally ill as well as not considering all the impact the strait jacket image could imply.
2. In some ways I would say that the controversy was positive for the company, for those that liked the concept of the strait jacket bear it was a positive but the aftermath of the controversy was negative. Robert lost a coveted position on the board of a large Vermont hospital and possibly the respect many colleagues. As the CEO of the company her image may have been tarnished in some ways as being arrogant and insensitive, which in turn affects her company and their image as well. Overall I would say that the “Crazy for You” bear was a negative choice on the part of the Vermont Teddy Bear factory. They could have used the slogan but altered the accessories associated with the bear.
Chapter 4 Review and Applications
Chapter 4
2.1
Pros of this venture would possibly be an increase in sales, broader reach of their products, more recognition around the world, new opportunities for innovation.
Cons could be that it could be costly to adapt products to the needs of the new areas they are reaching as well as limitations drawn up to regulate trade of such products.
4.2
The US Commercial Service can help companies wanting to enter the international market by providing advocacy, counseling, platinum key service which provides support to achieve your goals as a company, assist in market research, help in finding international business partners, as well as assisting in finding trade events and other related services.
4.3
Joint ventures can be beneficial because it can be relatively inexpensive, quick and a way to gain added expertise. Joint ventures however can be risky as well. Some joint ventures fail leaving the partners in a rut, others are bought out by their respective partner, and sometimes partners have difficulty agreeing on practices and major decisions.
4.4
Direct investment is considered risky because direct investors have a controlling interest or a large minority interest in the firm which could lead to the greatest potential risk as well as the greatest reward.
5.3
Exchange rates can affect a firm’s global sales because if the value of the currency depreciates the cost goes up for that good which may deter buyers from purchasing that product and go for a less expensive version that has not been imported.
2.1
Pros of this venture would possibly be an increase in sales, broader reach of their products, more recognition around the world, new opportunities for innovation.
Cons could be that it could be costly to adapt products to the needs of the new areas they are reaching as well as limitations drawn up to regulate trade of such products.
4.2
The US Commercial Service can help companies wanting to enter the international market by providing advocacy, counseling, platinum key service which provides support to achieve your goals as a company, assist in market research, help in finding international business partners, as well as assisting in finding trade events and other related services.
4.3
Joint ventures can be beneficial because it can be relatively inexpensive, quick and a way to gain added expertise. Joint ventures however can be risky as well. Some joint ventures fail leaving the partners in a rut, others are bought out by their respective partner, and sometimes partners have difficulty agreeing on practices and major decisions.
4.4
Direct investment is considered risky because direct investors have a controlling interest or a large minority interest in the firm which could lead to the greatest potential risk as well as the greatest reward.
5.3
Exchange rates can affect a firm’s global sales because if the value of the currency depreciates the cost goes up for that good which may deter buyers from purchasing that product and go for a less expensive version that has not been imported.
Chapter 3 Review and Applications
Chapter 3
2.4
To a certain extent I do believe that a code of ethics can influence an employee’s behavior at the workplace. As mentioned in the text, it states that business ethics are shaped by societal elements, so I believe that employees have their own ethics in a sense prior to working for an organization and no code of ethics will have that dramatic of an impact on how the employee chooses to act.
5.1
a. Bally’s Health Clubs: targeting this demographic by providing special classes that focus on the aging population, things that will benefit them as well as how much this will cost as they get older and retire their finances may be lower, will these programs be covered by insurance.
b. McDonald’s: instead of focusing advertising on the newest happy meals they could factor in what types of meals and things the older population will value, salads, diet conscious food.
c. Whirlpool Corporation: perhaps more business for this company as the population ages and has more aches and pains, and more disposable income to purchase such pools.
d. The state of Florida: as this population ages they may decide to spend their winters in the south in states such as Florida. Florida needs to take this into account and perhaps develop more real estate to accommodate the number of aging individuals.
e. Target stores: providing products that this population would value such as facial creams for lines and aging, fishing and relaxing activities that the aging population would enjoy, pricing that fits with their budgets.
9.3
Both Pfizer and Sanofi-Aventis are having troubles with their obesity drugs. Both have suspended further work on their weight loss products. Both seem to be more risky than beneficial. As for the effect on market share, I do not believe that since neither of these products had been fully on the market that the share for these products would have been impacted. Had both products been on the market, sales for both products would definitely lower due to the negativity associated with these products. When products are given negative press it seems that instantly sales and market share decrease.
2.4
To a certain extent I do believe that a code of ethics can influence an employee’s behavior at the workplace. As mentioned in the text, it states that business ethics are shaped by societal elements, so I believe that employees have their own ethics in a sense prior to working for an organization and no code of ethics will have that dramatic of an impact on how the employee chooses to act.
5.1
a. Bally’s Health Clubs: targeting this demographic by providing special classes that focus on the aging population, things that will benefit them as well as how much this will cost as they get older and retire their finances may be lower, will these programs be covered by insurance.
b. McDonald’s: instead of focusing advertising on the newest happy meals they could factor in what types of meals and things the older population will value, salads, diet conscious food.
c. Whirlpool Corporation: perhaps more business for this company as the population ages and has more aches and pains, and more disposable income to purchase such pools.
d. The state of Florida: as this population ages they may decide to spend their winters in the south in states such as Florida. Florida needs to take this into account and perhaps develop more real estate to accommodate the number of aging individuals.
e. Target stores: providing products that this population would value such as facial creams for lines and aging, fishing and relaxing activities that the aging population would enjoy, pricing that fits with their budgets.
9.3
Both Pfizer and Sanofi-Aventis are having troubles with their obesity drugs. Both have suspended further work on their weight loss products. Both seem to be more risky than beneficial. As for the effect on market share, I do not believe that since neither of these products had been fully on the market that the share for these products would have been impacted. Had both products been on the market, sales for both products would definitely lower due to the negativity associated with these products. When products are given negative press it seems that instantly sales and market share decrease.
Tuesday, November 11, 2008
CAN-SPAM Act Observations
1. Fairly vague requirements, subject lines could include Hi and be from someone that is trying to sell you a product but the subject line does not portray that.
2. I have opted out of receiving emails and have continued to received them.
3. How well is this being enforced, many people just erase unwanted messages instead of forwarding them on to be investigated.
4. Webpage is a few years old and the law may be updated at this point.
5. How are they enforcing this act other than to investigate what is forwarded to them, seems there are a lot of loop holes in this act.
2. I have opted out of receiving emails and have continued to received them.
3. How well is this being enforced, many people just erase unwanted messages instead of forwarding them on to be investigated.
4. Webpage is a few years old and the law may be updated at this point.
5. How are they enforcing this act other than to investigate what is forwarded to them, seems there are a lot of loop holes in this act.
Look-Look Website observations
1. Very human oriented. People over companies, feelings, emotions.
2. Valuing the market and using their opinions rather than thinking the company knows who their market is, ask the actual market!
3. Peer to peer recruitment-surveys, photojournalists, field teams
4. 2 younger women connecting with the "cool" youth to find trends before they hit big
5. Value the youth viewpoint and use it to assist their clients in marketing their products.
2. Valuing the market and using their opinions rather than thinking the company knows who their market is, ask the actual market!
3. Peer to peer recruitment-surveys, photojournalists, field teams
4. 2 younger women connecting with the "cool" youth to find trends before they hit big
5. Value the youth viewpoint and use it to assist their clients in marketing their products.
Monday, November 3, 2008
Chapter 2 Cirque du Soleil
Chapter 2: Cirque Du Soleil
1.
Strength: Only show of its kind, strong presence in Las Vegas and other places, diverse workers, creative concept
Weakness: Cirque du soleil will need to continue its creativity and originality and ensure that they are always providing a unique and strong impact on viewers, a need for many performers,
Opportunities: Travel to more venues, have a wider impact worldwide, more shows going on simulataneously, have more permanent theatres
Threats: Other shows trying to compete or duplicate what Cirque does, less expensive productions trying to take spots in Vegas.
2.
Keys to Cirque Du Soleil’s competitive advantage would be that they have a strong presence and well known for their dramatic performances. They have two strong leaders and longevity that proves they are a force to be reckoned with. There originality also makes them a key player in this industry. They really do not have anyone that puts on a show like they do.
3.
Cirque Du Soleil has a unique appeal that has become recognizable to many. The names of their shows are unique and memorable, the costumes they choose and the custom designs they have developed give them an original presence. Cirque chooses where it wants to perform and has an elite group of performers. Cirque Du Soleil has to develop new shows, choose past shows, and have enough performers to go on tours. They have had the opportunity to choose which venues in Vegas they would like to perform at and how they will be advertised. Cirque has become so well known that they have to come up with new, exciting things to keep viewers intrigued.
1.
Strength: Only show of its kind, strong presence in Las Vegas and other places, diverse workers, creative concept
Weakness: Cirque du soleil will need to continue its creativity and originality and ensure that they are always providing a unique and strong impact on viewers, a need for many performers,
Opportunities: Travel to more venues, have a wider impact worldwide, more shows going on simulataneously, have more permanent theatres
Threats: Other shows trying to compete or duplicate what Cirque does, less expensive productions trying to take spots in Vegas.
2.
Keys to Cirque Du Soleil’s competitive advantage would be that they have a strong presence and well known for their dramatic performances. They have two strong leaders and longevity that proves they are a force to be reckoned with. There originality also makes them a key player in this industry. They really do not have anyone that puts on a show like they do.
3.
Cirque Du Soleil has a unique appeal that has become recognizable to many. The names of their shows are unique and memorable, the costumes they choose and the custom designs they have developed give them an original presence. Cirque chooses where it wants to perform and has an elite group of performers. Cirque Du Soleil has to develop new shows, choose past shows, and have enough performers to go on tours. They have had the opportunity to choose which venues in Vegas they would like to perform at and how they will be advertised. Cirque has become so well known that they have to come up with new, exciting things to keep viewers intrigued.
Chapter One Netflix
Chapter 1 Netflix:
1. Describe the elements of the exchange process as they occur between Netflix and its customers.
Elements that are involved in the exchange process include online subscription, online selection of movie and television favorites, mailing of dvds, returning of dvds, and a continuation of that cycle.
2. Which marketing management philosophy does Netflix subscribe to?
I would say they are following a market orientation philosophy. Netflix works to satisfy the consumer and not necessarily to aggressively push a product and increase sales. Netflix has taken over the movie rental industry by not having any late fees, quickly distributing films, giving consumers their top choices as well as recommending additional movies they may also enjoy.
3. How does Netflix’s approach to relationship marketing increase customer satisfaction?
Netflix tries to please the consumer and assist them by suggesting additional movies, providing fast, efficient service as well as having tools that allow consumers to see reviews and share information with others. With the product Netflix sells they need to provide a good relationship in order to keep their customers from going to the movie rental store down the block.
1. Describe the elements of the exchange process as they occur between Netflix and its customers.
Elements that are involved in the exchange process include online subscription, online selection of movie and television favorites, mailing of dvds, returning of dvds, and a continuation of that cycle.
2. Which marketing management philosophy does Netflix subscribe to?
I would say they are following a market orientation philosophy. Netflix works to satisfy the consumer and not necessarily to aggressively push a product and increase sales. Netflix has taken over the movie rental industry by not having any late fees, quickly distributing films, giving consumers their top choices as well as recommending additional movies they may also enjoy.
3. How does Netflix’s approach to relationship marketing increase customer satisfaction?
Netflix tries to please the consumer and assist them by suggesting additional movies, providing fast, efficient service as well as having tools that allow consumers to see reviews and share information with others. With the product Netflix sells they need to provide a good relationship in order to keep their customers from going to the movie rental store down the block.
Chapter 2 Review and Applications
2.1
How can a new company best define its business mission statement? Can you find examples of good and bad mission statements on the internet? How might you improve the bad ones?
A new company needs to define what business they are in and describe the benefits that the consumers seek. The statement needs to focus on the market rather than a specific good or service as that may change. The following is a succinct mission statement for 3M in Nebraska. Though it is short and sweet it is very vague.
Mission StatementIt is the mission of 3M Valley to provide a safe, efficient, and innovative manufacturing environment, providing quality products and services that exceed customer expectations while encouraging employee participation and growth.
A good mission statement I found is for Medtronic.
To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life.
To direct our growth in the areas of biomedical engineering where we display maximum strength and ability; to gather people and facilities that tend to augment these areas; to continuously build on these areas through education and knowledge assimilation; to avoid participation in areas where we cannot make unique and worthy contributions.
To strive without reserve for the greatest possible reliability and quality in our products; to be the unsurpassed standard of comparison and to be recognized as a company of dedication, honesty, integrity, and service.
To make a fair profit on current operations to meet our obligations, sustain our growth, and reach our goals.
To recognize the personal worth of employees by providing an employment framework that allows personal satisfaction in work accomplished, security, advancement opportunity, and means to share in the company's success.
To maintain good citizenship as a company.
Like the Ben & Jerry’s statement this encompasses many aspects of the company and provides a clear understanding about Medtronic.
4.1
Competition in the private courier sector is fierce. UPS and FedEx dominate, but other companies such as DHL and even the United States Postal Service (USPS), still have a decent chunk of the express package delivery market. Perform a mini-situation analysis on one of the companies listed below by stating one strength, one weakness, one opportunity, and one threat.
DHL:
Strength: Focused, specialized services, not too complicated.
Weakness: Lack of variety with services. Too focused. Name not as well known.
Opportunity: Expand products/services.
Threat: Costs. Are they competing well with others who specialize in the same area. Larger companies could take over the portion that DHL has. Limited amount of drop off areas.
How can a new company best define its business mission statement? Can you find examples of good and bad mission statements on the internet? How might you improve the bad ones?
A new company needs to define what business they are in and describe the benefits that the consumers seek. The statement needs to focus on the market rather than a specific good or service as that may change. The following is a succinct mission statement for 3M in Nebraska. Though it is short and sweet it is very vague.
Mission StatementIt is the mission of 3M Valley to provide a safe, efficient, and innovative manufacturing environment, providing quality products and services that exceed customer expectations while encouraging employee participation and growth.
A good mission statement I found is for Medtronic.
To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life.
To direct our growth in the areas of biomedical engineering where we display maximum strength and ability; to gather people and facilities that tend to augment these areas; to continuously build on these areas through education and knowledge assimilation; to avoid participation in areas where we cannot make unique and worthy contributions.
To strive without reserve for the greatest possible reliability and quality in our products; to be the unsurpassed standard of comparison and to be recognized as a company of dedication, honesty, integrity, and service.
To make a fair profit on current operations to meet our obligations, sustain our growth, and reach our goals.
To recognize the personal worth of employees by providing an employment framework that allows personal satisfaction in work accomplished, security, advancement opportunity, and means to share in the company's success.
To maintain good citizenship as a company.
Like the Ben & Jerry’s statement this encompasses many aspects of the company and provides a clear understanding about Medtronic.
4.1
Competition in the private courier sector is fierce. UPS and FedEx dominate, but other companies such as DHL and even the United States Postal Service (USPS), still have a decent chunk of the express package delivery market. Perform a mini-situation analysis on one of the companies listed below by stating one strength, one weakness, one opportunity, and one threat.
DHL:
Strength: Focused, specialized services, not too complicated.
Weakness: Lack of variety with services. Too focused. Name not as well known.
Opportunity: Expand products/services.
Threat: Costs. Are they competing well with others who specialize in the same area. Larger companies could take over the portion that DHL has. Limited amount of drop off areas.
Chapter 1 Review and Applications.
1.1
What is the AMA? What does it do? How do its services benefit marketers?
The AMA is the American Marketing Association. The AMA is a professional marketing association for those involved in marketing. It provides resources such as education and training, as well as networking. AMA also offers seminars, workshops, data, articles, studies, career opportunities and best practices. All of these things are benefits to marketers.
2.3
Give an example of a company that might be successfully following a production orientation. Why might a firm in this industry be successful following such an orientation?
A company that is following a production orientation would be a mattress company such as the original mattress factory. They specialize in making mattresses and stick to what they are good at. They may be successful using this method because they are a niche product that people always need at some point in their life, it is a fairly large purchase so they are able to make money off of it.
3.3
How does Philip Morris handle the sensitive issues associated with marketing tobacco? What kind of information does its web site provide about smoking and its negative effects on health? How do you think PM is able to justify such marketing tactics? After checking around the site, do you think that approach makes the company more or less trustworthy?
PM states on their website that they are targeting adult consumers and encouraging brand loyalty as well as hoping to convert current tobacco users that use other brands. They state that they do encourage starting tobacco use. The website gives information on the ingredients in the products, information on health issues such as second hand smoke, disease and smoking and pregnancy is included on the website as well as information on helping to quit using tobacco products. PM is able to justify such marketing tactics because they are stating the health issues and targeting adult consumers who have a choice of whether or not to smoke which includes stating the risks of smoking. I think that the company is trustworthy at least to the extent of the website. They have information on health issues, how to prevent underage tobacco use, cessation programs, and they clearly state their position on marketing their product.
What is the AMA? What does it do? How do its services benefit marketers?
The AMA is the American Marketing Association. The AMA is a professional marketing association for those involved in marketing. It provides resources such as education and training, as well as networking. AMA also offers seminars, workshops, data, articles, studies, career opportunities and best practices. All of these things are benefits to marketers.
2.3
Give an example of a company that might be successfully following a production orientation. Why might a firm in this industry be successful following such an orientation?
A company that is following a production orientation would be a mattress company such as the original mattress factory. They specialize in making mattresses and stick to what they are good at. They may be successful using this method because they are a niche product that people always need at some point in their life, it is a fairly large purchase so they are able to make money off of it.
3.3
How does Philip Morris handle the sensitive issues associated with marketing tobacco? What kind of information does its web site provide about smoking and its negative effects on health? How do you think PM is able to justify such marketing tactics? After checking around the site, do you think that approach makes the company more or less trustworthy?
PM states on their website that they are targeting adult consumers and encouraging brand loyalty as well as hoping to convert current tobacco users that use other brands. They state that they do encourage starting tobacco use. The website gives information on the ingredients in the products, information on health issues such as second hand smoke, disease and smoking and pregnancy is included on the website as well as information on helping to quit using tobacco products. PM is able to justify such marketing tactics because they are stating the health issues and targeting adult consumers who have a choice of whether or not to smoke which includes stating the risks of smoking. I think that the company is trustworthy at least to the extent of the website. They have information on health issues, how to prevent underage tobacco use, cessation programs, and they clearly state their position on marketing their product.
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