"A company can always increase customer satisfaction by lowering its price
or increasing its services. But this may result in lower profits. Thus,
the purpose of marketing is to generate customer value profitably." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 17). To be able to participate in the charity, there will be a $5 entrance donation-fee. This strategy works perfectly for my charity. The donations are not overwhelming, and the event will provide quality service. It will be more profitable to have a large audience with products priced at a lower rate, as opposed to having a smaller audience with products priced at a higher rate. The purpose is not to raise an abundant amount of donations, but to raise awareness of the poverty crisis.
To ensure there is no price competition with nearby bars, I will market my charity differently than other non-profit organizations around the area. Most bars try to attract customers by simply lowering the price of their drinks. I will be providing quality entertainment instead of lower-priced drinks. The fact that a costumer can get a fairly cheap drink and help a person in need all at once without much effort will provide the edge needed to have a promising audience present at my charity. The live entertainment will also provide value for the consumer. "In these days of intense price
competition, service marketers often complain about the difficulty of
differentiating their services from those of competitors. To the extent
that customers view the services of different providers as similar, they
care less about the provider than the price.
The solution to price competition is to develop a differentiated offer, delivery, and image." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 226).
Wednesday, August 29, 2012
Promotion
"The company develops product offers and creates strong brand identities
for them. It prices these offers to create real customer value and
distributes the offers to make them available to target consumers." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 31). Creating an identity for my charity will predict the event's failure or success. For the customers to value my charity, I will have to "price" the donations conveniently. I will also engage with the community using different forms of communication. Building these relationships with the audience will captivate them into participating in the charity.
"Finally, the company designs promotion programs that communicate the value proposition to target consumers and persuade them to act on the market offering." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 31). My promotion program for "ONE NIGHT OF MUSIC. ONE NIGHT OF SHELTER." consists on marketing on social websites. These include Facebook, Twitter, Instagram, and YouTube. I also plan on getting local radio stations involved in promoting my charity during on-air radio shows. The ability to communicate this way will spread awareness to a broader audience.
"Finally, the company designs promotion programs that communicate the value proposition to target consumers and persuade them to act on the market offering." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 31). My promotion program for "ONE NIGHT OF MUSIC. ONE NIGHT OF SHELTER." consists on marketing on social websites. These include Facebook, Twitter, Instagram, and YouTube. I also plan on getting local radio stations involved in promoting my charity during on-air radio shows. The ability to communicate this way will spread awareness to a broader audience.
Distribution
The process will be distributed into four stages.
My goal is to gather talented artists of all genres of music that will comply with the mission statement of my charity. The purpose of approaching the musicians this way is to benefit from promoting their music along with my company to acquire a local buzz. "...Each relationship is based on … shared efforts aimed at promoting growth and mutual profits that make it possible for suppliers to invest, innovate, and compete.”" - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 48).
I will be promoting my charity in numerous ways. First, I'll create an audio commercial that will hopefully get some air time at local radio stations. Then, I will record and edit a video ad that will market my charity through YouTube. Lastly, I will keep updating and advertizing the charity in my blog and other social media. I will attract consumers through one of the fastest and most widely used forms of communication used by my demographic target audience...the internet. "...77 percent of Millennials frequent social networking sites and 71 percent use instant messaging. “All generations are comfortable with technology, but this is the generation that’s been formed by technology,”" - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 74).
Practicing these strategies as I market my charity will ensure an audience. I can guarantee a decent audience simply by spreading the word of my charity at work. With a company as large as Zappos, I am sure to bring in at least thirty attendees. In addition, I can rely on some the performer's acquaintances attending the charity as well.
- Finding the location
- Gathering the artists and musicians
- Promoting the charity
- Attracting an audience
My goal is to gather talented artists of all genres of music that will comply with the mission statement of my charity. The purpose of approaching the musicians this way is to benefit from promoting their music along with my company to acquire a local buzz. "...Each relationship is based on … shared efforts aimed at promoting growth and mutual profits that make it possible for suppliers to invest, innovate, and compete.”" - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 48).
I will be promoting my charity in numerous ways. First, I'll create an audio commercial that will hopefully get some air time at local radio stations. Then, I will record and edit a video ad that will market my charity through YouTube. Lastly, I will keep updating and advertizing the charity in my blog and other social media. I will attract consumers through one of the fastest and most widely used forms of communication used by my demographic target audience...the internet. "...77 percent of Millennials frequent social networking sites and 71 percent use instant messaging. “All generations are comfortable with technology, but this is the generation that’s been formed by technology,”" - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 74).
Practicing these strategies as I market my charity will ensure an audience. I can guarantee a decent audience simply by spreading the word of my charity at work. With a company as large as Zappos, I am sure to bring in at least thirty attendees. In addition, I can rely on some the performer's acquaintances attending the charity as well.
Product
The product of charity "ONE NIGHT OF MUSIC. ONE NIGHT OF SHELTER." is giving the audience the sensation of happiness."...to create customer relationships, marketers must build and manage
products and brands that connect with customers. This chapter begins
with a deceptively simple question: What is a product?" - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 208.) The goal is to make the audience feel accomplished by taking part in an event that serves for a higher purpose.
My charity will be successful in delivering this product. The large variety of performers, relaxed environment, and having alcohol available will take the perception of "charity" out of the question. "Smart marketers look beyond the attributes of the products and services they sell. By orchestrating several services and products, they create brand experiences for consumers." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 7.) When the event is finished, happiness will be delivered; all because the audience will realize that they have taken part in this charity that will donate all collections to the Las Vegas Rescue Mission. The charity will be hosted to create a pleasant experience for the consumer.
- The Las Vegas rescue mission provides redemption, recovery, and re-entry to the homeless, addicted, and those in need.
My charity will be successful in delivering this product. The large variety of performers, relaxed environment, and having alcohol available will take the perception of "charity" out of the question. "Smart marketers look beyond the attributes of the products and services they sell. By orchestrating several services and products, they create brand experiences for consumers." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 7.) When the event is finished, happiness will be delivered; all because the audience will realize that they have taken part in this charity that will donate all collections to the Las Vegas Rescue Mission. The charity will be hosted to create a pleasant experience for the consumer.
- The Las Vegas rescue mission provides redemption, recovery, and re-entry to the homeless, addicted, and those in need.
Target Market Strategy
My market strategy will consist of approaching different people and attempting to build relationships with them. If a connection is made, I can share information about my charity. Consumers will want to be involved in the charity if they feel engaged to it. The goal is making a personal connection so the charity is valued to the consumer. "Customer relationships and value are especially important in today’s
tough economic times, when more frugal consumers are cutting back and
spending more carefully. “The challenge facing us is not just one of
consumers being more-value conscious,” says one marketing
consultant. “It’s how we gain … a renewed relationship with consumers
who have less inclination to listen to [companies with whom] they do not
have strong and valued relationships.”" (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 4.)
My targeted demographic audience are people in their mid-twenties. The setting of the charity will be unpleasant to older people, and it certainly is inappropriate for minors. It would be inefficient for me to market to consumers of different generations because the environment of the charity is not intended to be enjoyable by other age groups."But marketing managers know that they cannot serve all customers in every way. By trying to serve all customers, they may not serve any customers well. Instead, the company wants to select only customers that it can serve well and profitably." (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 9.) A younger crowd would give value to this event. If my charity is valued to this caliber, consumers will demand more of my service.
My targeted demographic audience are people in their mid-twenties. The setting of the charity will be unpleasant to older people, and it certainly is inappropriate for minors. It would be inefficient for me to market to consumers of different generations because the environment of the charity is not intended to be enjoyable by other age groups."But marketing managers know that they cannot serve all customers in every way. By trying to serve all customers, they may not serve any customers well. Instead, the company wants to select only customers that it can serve well and profitably." (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 9.) A younger crowd would give value to this event. If my charity is valued to this caliber, consumers will demand more of my service.
Situation or SWOT Analysis
BIGBOIDRE Production's "ONE NIGHT OF MUSIC. ONE NIGHT OF SHELTER." charity SWOT Analysis.
"Strengths include internal capabilities, resources, positive situational
factors that may help the company to serve its customers and achieve
its objectives." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 55.) A major strength of my charity is having the ability to contact and book different musicians of all different genres. The idea is to have an assorted audience that like different types of music. A second major strength is the fact that the musicians performing that night will contact their own fans and friends. This will promote the charity internally, and will help with attendance. A third strength is the way the charity is being hosted. "ONE NIGHT OF MUSIC. ONE NIGHT OF SHELTER." is sponsored and marketed in a very uncommon way. My charity will stand out from other similar non-profit events around town.
"Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 55.) Having a committed bar that will host the charity with all requests wanted has been a challenge. Some bars are not compliant on having a specialty drink discounted for the night. Another objection I have ran across is the fact that some bars are asking for a fee to sponsor the charity. The key is to have a bar that will host the charity simply to raise awareness of the poverty crisis in Las Vegas.
"Opportunities are favorable factors or trends in the external
environment that the company may be able to exploit to its advantage." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 55.) A great opportunity that I can rely on is promoting my charity at the company that I work for. Zappos.com is widely involved in charities. In addition, the company has plenty of employees that I can approach to make sure this charity-affair is a success. A great external opportunity is present for the bar that sponsors the event. Essentially, the success of my charity will assure some of the audience will visit the bar a second or third time.
"...threats are unfavorable external factors or trends that may present challenges to performance." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 55.) Since the bar is located in the downtown area of Las Vegas, a potential threat that raises concern is having a near-by bar promote a sale during the night of the charity. Inherently, this can drive a potential audience away. Another threat that could be tragic is having an inexperienced live-sound engineer at the event. Unpleasant music can drive an audience away very quickly.
"Weaknesses include internal limitations and negative situational factors that may interfere with the company’s performance." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 55.) Having a committed bar that will host the charity with all requests wanted has been a challenge. Some bars are not compliant on having a specialty drink discounted for the night. Another objection I have ran across is the fact that some bars are asking for a fee to sponsor the charity. The key is to have a bar that will host the charity simply to raise awareness of the poverty crisis in Las Vegas.
"...threats are unfavorable external factors or trends that may present challenges to performance." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 55.) Since the bar is located in the downtown area of Las Vegas, a potential threat that raises concern is having a near-by bar promote a sale during the night of the charity. Inherently, this can drive a potential audience away. Another threat that could be tragic is having an inexperienced live-sound engineer at the event. Unpleasant music can drive an audience away very quickly.
Objectives
The objective of my charity is to raise awareness of the poverty crisis that is occurring all over Las Vegas. This objective will be achieved by marketing this event in an uncommon way. This will help my charity differentiate from other similar charities around town. "...the company faces more competition and competing brands are less
differentiated. Increasingly, competitors are using sales promotion to
help differentiate their offers." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 432.) Most people don't think of a charity taking event at a bar. Neither do people expect music or alcohol to be available at a charity. This is how the "ONE NIGHT OF MUSIC. ONE NIGHT OF SHELTER" charity stands out from the others.
My marketing objective is to reach out to a young audience that will enjoy a night of music at a bar with the ability to buy a cheap drink if desired. Convenience is key. "Sales promotion tools are used by most organizations, including manufacturers, distributors, retailers, and not-for-profit institutions." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 432.) The charity will have a "sales promotion" by advertising the discounted drink of the night. This will attract people that go the bar at a regular basis; it will also attract people that haven't visited the bar before. The purpose is to attract numerous consumers in different ways.
"In developing a sales promotion program, a company must first set sales promotion objectives and then select the best tools for accomplishing these objectives." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 432.) The best tool to reach my targeted audience is social media. Achieving this successfully can ensure rapid online attention. Not only will this internet recognition exceed awareness expectations, but it can also guarantee having even more attendees present at my charity.
My marketing objective is to reach out to a young audience that will enjoy a night of music at a bar with the ability to buy a cheap drink if desired. Convenience is key. "Sales promotion tools are used by most organizations, including manufacturers, distributors, retailers, and not-for-profit institutions." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 432.) The charity will have a "sales promotion" by advertising the discounted drink of the night. This will attract people that go the bar at a regular basis; it will also attract people that haven't visited the bar before. The purpose is to attract numerous consumers in different ways.
"In developing a sales promotion program, a company must first set sales promotion objectives and then select the best tools for accomplishing these objectives." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 432.) The best tool to reach my targeted audience is social media. Achieving this successfully can ensure rapid online attention. Not only will this internet recognition exceed awareness expectations, but it can also guarantee having even more attendees present at my charity.
Business Mission Statement
The charity event hosted by BIGBOIDRE Productions, "ONE NIGHT OF MUSIC. ONE NIGHT OF SHELTER" needs to be marketed in the following way. "Dividing a market into
smaller segments with distinct needs characteristics or behavior that
might require separate marketing strategies or mixes." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 157.)
I will use this technique targeting a young audience. Mainly, people in their mid-twenties. The audience will unconsciously get induced into the charity event because the environment will be welcoming and exciting. The bar setting and music performed will attract an audience to participate; simply for the sake of having a good time. People will enjoy the festivities for a good cause...without realizing it.
Once I target my consumer audience, I will practice the positioning strategy. "Arranging for a market offering to occupy a clear distinctive, and desirable place relative to competing products in the minds of target consumers." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 175.)
I will market the charity event through social sites such as Facebook, Twitter, YouTube, and Instagram. My plan is to market to an audience that is located in Las Vegas through the internet and radio. I will be contacting local businesses as well. The businesses that please to support the charity will spread the event's information by word of mouth. Posters and hand-outs will explain the event and its purpose. These will be distributed at the businesses that comply with the charity. This will also help raise awareness of my company within the community.
100 percent of all collections from this event will be donated to the Las Vegas Rescue Mission. - http://www.vegasrescue.org/
The main focus of this event is to get a group of people that enjoy music and visit bars at a regular basis. Networking in a comfortable environment such as a bar can open up a demographic consumer base for my company.
The mission statement of the "ONE NIGHT OF MUSIC. ONE NIGHT OF SHELTER" charity is to raise awareness on the ongoing poverty crisis in the city of Las Vegas.
I will use this technique targeting a young audience. Mainly, people in their mid-twenties. The audience will unconsciously get induced into the charity event because the environment will be welcoming and exciting. The bar setting and music performed will attract an audience to participate; simply for the sake of having a good time. People will enjoy the festivities for a good cause...without realizing it.
Once I target my consumer audience, I will practice the positioning strategy. "Arranging for a market offering to occupy a clear distinctive, and desirable place relative to competing products in the minds of target consumers." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 175.)
I will market the charity event through social sites such as Facebook, Twitter, YouTube, and Instagram. My plan is to market to an audience that is located in Las Vegas through the internet and radio. I will be contacting local businesses as well. The businesses that please to support the charity will spread the event's information by word of mouth. Posters and hand-outs will explain the event and its purpose. These will be distributed at the businesses that comply with the charity. This will also help raise awareness of my company within the community.
100 percent of all collections from this event will be donated to the Las Vegas Rescue Mission. - http://www.vegasrescue.org/
The main focus of this event is to get a group of people that enjoy music and visit bars at a regular basis. Networking in a comfortable environment such as a bar can open up a demographic consumer base for my company.
The mission statement of the "ONE NIGHT OF MUSIC. ONE NIGHT OF SHELTER" charity is to raise awareness on the ongoing poverty crisis in the city of Las Vegas.
Week 8 EOC: Creative Content
For my creative content, I decided to market and promote "ONE NIGHT OF MUSIC. ONE NIGHT OF SHELTER" via social media and local radio.
I will record, mix, and master an audio commercial that will provide information about my charity. The commercial is intended to attract people in their mid-twenties. To ensure the commercial gets air time, I will contact radio stations that cater on serving the same demographic audience as mine. Additional advertising opportunities can appear if the radio stations decide to support the charity.
I will also record and edit a short skit/commercial about my charity. I can share and advertise this commercial on YouTube. I will make sure to promote it through my blog and by using social media sites such as Facebook and Twitter. I'll also ensure to contact different local organizations around town via email in attempts to provide more attention within the community.
I also plan on reaching out to local businesses in person. Creating a personal connection with the owners of those businesses can open the opportunity to promote my charity in different locations.
I will record, mix, and master an audio commercial that will provide information about my charity. The commercial is intended to attract people in their mid-twenties. To ensure the commercial gets air time, I will contact radio stations that cater on serving the same demographic audience as mine. Additional advertising opportunities can appear if the radio stations decide to support the charity.
I will also record and edit a short skit/commercial about my charity. I can share and advertise this commercial on YouTube. I will make sure to promote it through my blog and by using social media sites such as Facebook and Twitter. I'll also ensure to contact different local organizations around town via email in attempts to provide more attention within the community.
I also plan on reaching out to local businesses in person. Creating a personal connection with the owners of those businesses can open the opportunity to promote my charity in different locations.
Week 7 EOC: The Pitch
BIGBOIDRE Productions will be hosting a charity! All collections will be donated to the Las Vegas Rescue Mission for the homeless. Las Vegas rescue mission provides redemption, recovery, and re-entry to the homeless, addicted,
and those in need. http://vegasrescue.org/
This event will be held at a local bar. Local bands and artists of all genres will be performing for a good cause. There will be a $5 entry fee. All attendants will have their chance to enjoy a discounted specialty drink that will be offered the whole night. All collections from entry fees and drink specials will be donated to the Las Vegas Rescue Mission.
This event would bring attention to the local bar. The artists and bands performing will benefit from the charity by having their music locally exposed. This will be a way to network and bring attention to my company within the community. I will be building relationships with possible clients. Last but not least, it will be an event that will help towards a good cause.
This event will take six weeks to plan. An audio commercial will be recorded, mixed, and mastered by me. The audio commercial will inform the community about the charity, its purpose, and where the event will take place. My marketing strategy consists of reaching out to local radio stations that will provide a 30-second spot for the audio commercial. I will also reach out to various local businesses through social media such as Twitter and Facebook. I will also create a short video with information about the charity. This video can be edited and uploaded to YouTube; this will provide visual attention toward the charity. The purpose of using these multiple forms of communication is to provide mass-awareness and inform the community about the poverty crisis.
The charity event will be titled and sponsored as "ONE NIGHT OF MUSIC. ONE NIGHT OF SHELTER"
This event will be held at a local bar. Local bands and artists of all genres will be performing for a good cause. There will be a $5 entry fee. All attendants will have their chance to enjoy a discounted specialty drink that will be offered the whole night. All collections from entry fees and drink specials will be donated to the Las Vegas Rescue Mission.
This event would bring attention to the local bar. The artists and bands performing will benefit from the charity by having their music locally exposed. This will be a way to network and bring attention to my company within the community. I will be building relationships with possible clients. Last but not least, it will be an event that will help towards a good cause.
This event will take six weeks to plan. An audio commercial will be recorded, mixed, and mastered by me. The audio commercial will inform the community about the charity, its purpose, and where the event will take place. My marketing strategy consists of reaching out to local radio stations that will provide a 30-second spot for the audio commercial. I will also reach out to various local businesses through social media such as Twitter and Facebook. I will also create a short video with information about the charity. This video can be edited and uploaded to YouTube; this will provide visual attention toward the charity. The purpose of using these multiple forms of communication is to provide mass-awareness and inform the community about the poverty crisis.
The charity event will be titled and sponsored as "ONE NIGHT OF MUSIC. ONE NIGHT OF SHELTER"
Wednesday, August 15, 2012
Week 6 EOC: Me x 3
"...the products people buy reflect their lifestyles.
As a result, marketers often segment their markets by consumer
lifestyles and base their marketing strategies on lifestyle appeals." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 179).
With that stated, Apple is one of the companies that define some aspects of my life. Apple products fit my lifestyle because I am in an industry that is 80 percent digital. In the audio and video industry, half of your life is spent in front of a computer; networking, reaching out to clients, doing research, and putting projects together. Having the best technology is essential to me. It facilitates my tasks, helps me manage my busy schedule, and helps me live my life. With Apple, I know I will always have a quality product.
Levi's is another brand that defines me as a person. The music industry is one of the factors that defines the clothing I wear. Levi's 501 jeans give me a sense of style and comfort. They are affordable, and they maintain the original style that I wear. These are some of the reasons I benefit as a costumer of Levi's. "Benefit segmentation requires finding the major benefits people look for in the product class, the kinds of people who look for each benefit, and the major brands that deliver each benefit." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 182).
Nike is a brand that also defines my personality. I am a fan of their fashionable sneakers and apparel. Over 80 percent of my shoes are manufactured by Nike. I am a loyal Nike customer because I know I can always find something I like. "Marketers rarely limit their segmentation analysis to only one or a few variables. Rather, they often use multiple segmentation bases in an effort to identify smaller, better-defined target groups." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 183). Nike is a company that is expert at multiple segmentation. Nike's customer base ranges from consumers that look for comfort, performance, and fashion. Another reason for Nike's success is the price range of their products. Nike markets in a broad basis, which means they have something for every consumer, whether they spend large, moderate, or short amounts of money.
With that stated, Apple is one of the companies that define some aspects of my life. Apple products fit my lifestyle because I am in an industry that is 80 percent digital. In the audio and video industry, half of your life is spent in front of a computer; networking, reaching out to clients, doing research, and putting projects together. Having the best technology is essential to me. It facilitates my tasks, helps me manage my busy schedule, and helps me live my life. With Apple, I know I will always have a quality product.
Levi's is another brand that defines me as a person. The music industry is one of the factors that defines the clothing I wear. Levi's 501 jeans give me a sense of style and comfort. They are affordable, and they maintain the original style that I wear. These are some of the reasons I benefit as a costumer of Levi's. "Benefit segmentation requires finding the major benefits people look for in the product class, the kinds of people who look for each benefit, and the major brands that deliver each benefit." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 182).
Nike is a brand that also defines my personality. I am a fan of their fashionable sneakers and apparel. Over 80 percent of my shoes are manufactured by Nike. I am a loyal Nike customer because I know I can always find something I like. "Marketers rarely limit their segmentation analysis to only one or a few variables. Rather, they often use multiple segmentation bases in an effort to identify smaller, better-defined target groups." - (Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 183). Nike is a company that is expert at multiple segmentation. Nike's customer base ranges from consumers that look for comfort, performance, and fashion. Another reason for Nike's success is the price range of their products. Nike markets in a broad basis, which means they have something for every consumer, whether they spend large, moderate, or short amounts of money.
Wednesday, August 8, 2012
Week 4 EOC: Impacting Super Bowl Commercials
In this commercial, Chrysler uses marketing to communicate a very direct message to their targeted audience. Chrysler is saying that there is no need to buy a luxury foreign car. Chrysler is telling us that an American-made luxury car is better than a foreign luxury car.
Older Americans are the targeted audience in this case. This is of course because of their competition with companies such as BMW and Mercedes Benz. Chrysler is trying to gain potential customers by adding a little background story of Detroit and the pride that comes along with being an American manufacturer. The phrase, "Imported from Detroit" shows that Chrysler is taking an aggressive approach towards their competitors.
This is a very strong marketing approach. Chrysler knows that most people who buy luxury cars are going to be older men that are looking for some excitement in their ordinary lives. Older men also tend to be very patriotic, and prefer items "Made in U.S.A.".
Putting out a commercial like this during Super Bowl Sunday can give Chrysler some serious attention. The Super Bowl is the most watched televised sporting event in the United States. This commercial helped put Chrysler back in the market, and it also provided an opportunity to expand their customer base.
Week 4 EOC: Building B-to-B Customer Partnerships
At a general level, a major factor that influences consumer buying behavior is the emotional connection they have with the product. The other major factor is how the product is marketed toward a targeted audience.
The business buyer decision process is highly complex. Complicated factors such as handling large amounts of money, conducting with fellow business buyers, expecting of economical revenue. This and other criteria will be researched and studied to ensure the buying decision is successful in the long run.
In business-to-business buying relations, the buyer and seller highly depend on each other to make sure both partners succeed. Many companies have supplier-partners; these ensures that a dependable supply of product is always available. The businesses have a close partner-relationship where they involve each other in their marketing strategies expanding their customer base.
The business buying process starts with finding a problem within the company. Problem recognition happens when there is a need to improve the business. Meaning, that some kind of service is needed to enhance the company either internally or externally. The general need description happens when the company figures out what type, and amount of items are needed for the improvement. The value analysis step consists of examining the product/company to see if changes can be made to impact the market positively, and increase the value of that product/company. The value analysis process can also be used when the company needs to provide greater solutions for the consumers. This way the business is perceived as loyal and dependable.
The business buyer decision process is highly complex. Complicated factors such as handling large amounts of money, conducting with fellow business buyers, expecting of economical revenue. This and other criteria will be researched and studied to ensure the buying decision is successful in the long run.
In business-to-business buying relations, the buyer and seller highly depend on each other to make sure both partners succeed. Many companies have supplier-partners; these ensures that a dependable supply of product is always available. The businesses have a close partner-relationship where they involve each other in their marketing strategies expanding their customer base.
The business buying process starts with finding a problem within the company. Problem recognition happens when there is a need to improve the business. Meaning, that some kind of service is needed to enhance the company either internally or externally. The general need description happens when the company figures out what type, and amount of items are needed for the improvement. The value analysis step consists of examining the product/company to see if changes can be made to impact the market positively, and increase the value of that product/company. The value analysis process can also be used when the company needs to provide greater solutions for the consumers. This way the business is perceived as loyal and dependable.
Week 3 EOC: My Demographics
After reading about the three major demographics, I came to find out I am part of the millennial generation, or Generation Y. The book speaks on generation Y's fluency with technology, which I would definitely agree with. I would also agree that I am the kind of person that prefers to reach out for information, and then sharing that information socially.
Even though I would generally fall under the Generation Y demographic, I also embody attributes that Generation X-ers have. I contain some of these qualities because the way I was raised. As a child, I was brought up by older people, and I rarely associated with children my age or younger. I was also taught to reach for success, and I prize all experiences.
I would say that I fall under both demographics. I am a mix of Generation X and Generation Y. I am a true believer of 'quality over quantity', regardless of the fact that I tend to spend more money than expected. I wasn't brought up with many electronics, and I wasn't truly introduced to technology until I arrived to the United States. Once I adjusted to the way of life, I became tech savvy as I got the first taste of technology during my teen years.
(Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 71-74.)
Even though I would generally fall under the Generation Y demographic, I also embody attributes that Generation X-ers have. I contain some of these qualities because the way I was raised. As a child, I was brought up by older people, and I rarely associated with children my age or younger. I was also taught to reach for success, and I prize all experiences.
I would say that I fall under both demographics. I am a mix of Generation X and Generation Y. I am a true believer of 'quality over quantity', regardless of the fact that I tend to spend more money than expected. I wasn't brought up with many electronics, and I wasn't truly introduced to technology until I arrived to the United States. Once I adjusted to the way of life, I became tech savvy as I got the first taste of technology during my teen years.
(Armstrong & Kotler (2001) Marketing: An Introduction, 10th Ed. pg. 71-74.)
Tuesday, August 7, 2012
Week 3 EOC: Making Money for Good
Many companies in this economy are solely focused on revenue. This is completely fine, but not too many companies share their earnings with non-profit organizations that focus on good causes. This tactic can be extremely rewarding to a company. It exposes integrity and it shows the market that the company is not solely focused on sales. What some companies don't realize is that clientele can seriously increase by sharing earnings with outside organizations that serve for a greater good.
Take Oakley as an example. Oakley sells eye-wear and accessories with innovative designs. Oakley displayed a different image of the company with their Young Survival Coalition (YSC) series . YSC is a non-profit organization that focuses their concerns and issues towards women affected by breast cancer. "Oakley provides $20 from each sale of special edition sunglass and 10% from each sale of special edition apparel." - http://www.oakley.com/women/ysc/pages/2
WeWOOD is another illustration of a company that makes money for good. WeWOOD creates eco-luxury time pieces made out of 100% natural wood. 'Buy a watch, We'll plant a tree', this is WeWOOD's selling strategy. This company not only cares about trendy watch fashion, but also in the ecosystem. "A philosophy not implemented is only a dream. Conversely, when you get your WeWOOD Timepiece, you can feel confident you’re making a difference. One Timepiece plants one tree, and together we help to ensure the health and survival of the natural world.
One Watch – One Tree – One Planet" - http://we-wood.us/
Kayu is a clothing company that I ran across while doing research. Kayu designs accessories out of natural materials such as wood, straw, bamboo and recycled leather. These accessories are manufactured by native artisans of Cambodia and Philippines. Kayu provides employment for these artisans and works with a number of non-profit organizations like 'Unite for Sight' and 'Awareness Cambodia'. 'Unite for Site' provides sight-restoring surgeries to people in developing countries, while 'Awareness Cambodia' provides school supplies for Cambodian children.- http://kayudesign.com/
Nike is a big company that also contributes to good causes. Nike started the (NIKE)RED movement back in 2009. The idea is to purchase (NIKE)RED products (particularly shoe-laces) to help with Africa's AIDS crisis. Nike contributes 100% of its profits from those sales to the Global Fund that help fight AIDS in Africa. - http://www.nike.com/nikeos/p/red/en_US/
Take Oakley as an example. Oakley sells eye-wear and accessories with innovative designs. Oakley displayed a different image of the company with their Young Survival Coalition (YSC) series . YSC is a non-profit organization that focuses their concerns and issues towards women affected by breast cancer. "Oakley provides $20 from each sale of special edition sunglass and 10% from each sale of special edition apparel." - http://www.oakley.com/women/ysc/pages/2
WeWOOD is another illustration of a company that makes money for good. WeWOOD creates eco-luxury time pieces made out of 100% natural wood. 'Buy a watch, We'll plant a tree', this is WeWOOD's selling strategy. This company not only cares about trendy watch fashion, but also in the ecosystem. "A philosophy not implemented is only a dream. Conversely, when you get your WeWOOD Timepiece, you can feel confident you’re making a difference. One Timepiece plants one tree, and together we help to ensure the health and survival of the natural world.
One Watch – One Tree – One Planet" - http://we-wood.us/
Kayu is a clothing company that I ran across while doing research. Kayu designs accessories out of natural materials such as wood, straw, bamboo and recycled leather. These accessories are manufactured by native artisans of Cambodia and Philippines. Kayu provides employment for these artisans and works with a number of non-profit organizations like 'Unite for Sight' and 'Awareness Cambodia'. 'Unite for Site' provides sight-restoring surgeries to people in developing countries, while 'Awareness Cambodia' provides school supplies for Cambodian children.- http://kayudesign.com/
Nike is a big company that also contributes to good causes. Nike started the (NIKE)RED movement back in 2009. The idea is to purchase (NIKE)RED products (particularly shoe-laces) to help with Africa's AIDS crisis. Nike contributes 100% of its profits from those sales to the Global Fund that help fight AIDS in Africa. - http://www.nike.com/nikeos/p/red/en_US/
Week 2 EOC: Boston Consulting Group - Video Games
The video gaming industry was a huge craze as new technology introduced gaming consoles such as PS3, Xbox 360, and Nintendo Wii. Unfortunately, this is not the case now. Sales in the video gaming industry have been declining rapidly. "Its PlayStation
games business also saw revenue decline 14% to $1.5 billion due to
lower sales of its consoles and game software. As a result, the unit
swung to a loss of $45 million from a profit of $52 million a year
earlier." - www.latimes.com
With that stated, PS3 and Xbox 360 consoles are the dogs in my BCG analysis. These consoles are not growing rapidly. Even with the addition of Kinnect to the Xbox. Sales didn't raise exponentially. The additional products that are being manufactured for these consoles are not impacting customers enough to make them cash cows, as they once were.
At the moment, I would say that the stars are the video games being made for smartphones and tablets such as iPhone and iPad. This is mostly because of the tablet trend that has been dominating the market this past year. Society has been turning for entertainment in handheld devices for quite a while. With better graphics and faster processing on these newer electronics, it was certain that this market would generate lots of revenue at a fast pace.
The question marks are the handheld video game consoles such as the Playstation Vita and Nintendo Gameboy. These were cash cows when they were first introduced into the market. Sales didn't quite improved after Nintendo's 3D feature on their newer Gameboy model. The Playstation Vita was not able to produce enough to make it a star or cash cow.
"Nintendo Co. says it sold 710,000 Wii units in the April-June quarter, down from 1.56 million a year ago. Nintendo is coming out with a successor, the Wii U, this year. It is forecasting 10.5 million units for the full fiscal year, which ends in March 2013." - www.washingtonpost.com.
Regardless of Nintendo's sales decline, I believe the Nintendo Wii is the cash cow at this time. This console lets the consumer interact physically in the game and is also a lot more family oriented. This is a great selling point. It also seems like the Wii U will be a hit once it hits the market. Wii U has the potential of becoming a star, depending on the consumer's reaction to the product. The Wii maintains its status as cash cow because of the type of games that are being produced for the console.
With that stated, PS3 and Xbox 360 consoles are the dogs in my BCG analysis. These consoles are not growing rapidly. Even with the addition of Kinnect to the Xbox. Sales didn't raise exponentially. The additional products that are being manufactured for these consoles are not impacting customers enough to make them cash cows, as they once were.
At the moment, I would say that the stars are the video games being made for smartphones and tablets such as iPhone and iPad. This is mostly because of the tablet trend that has been dominating the market this past year. Society has been turning for entertainment in handheld devices for quite a while. With better graphics and faster processing on these newer electronics, it was certain that this market would generate lots of revenue at a fast pace.
The question marks are the handheld video game consoles such as the Playstation Vita and Nintendo Gameboy. These were cash cows when they were first introduced into the market. Sales didn't quite improved after Nintendo's 3D feature on their newer Gameboy model. The Playstation Vita was not able to produce enough to make it a star or cash cow.
"Nintendo Co. says it sold 710,000 Wii units in the April-June quarter, down from 1.56 million a year ago. Nintendo is coming out with a successor, the Wii U, this year. It is forecasting 10.5 million units for the full fiscal year, which ends in March 2013." - www.washingtonpost.com.
Regardless of Nintendo's sales decline, I believe the Nintendo Wii is the cash cow at this time. This console lets the consumer interact physically in the game and is also a lot more family oriented. This is a great selling point. It also seems like the Wii U will be a hit once it hits the market. Wii U has the potential of becoming a star, depending on the consumer's reaction to the product. The Wii maintains its status as cash cow because of the type of games that are being produced for the console.
"After a 45-year career writing some of the most successful musicals of all time, Andrew Lloyd Webber is set to make his mark on a perhaps less familiar format.
The legendary composer will star in a new video game to be released Sept. 14. The Nintendo Wii
game features (what else?) singing and dancing competitions in which up
to four players can square off against each other, as well as a
"career" mode where players can sing and dance their way to the top of
the musical theater chain."- www.latimes.com
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