Response to Kaley DeBoer

I think that it would be beneficial for a company to have a twitter account or a Facebook page because these social media networks are very popular in today's society and most people have them. This is an effective way to get the word out when companies and businesses are trying to advertise and promote their products to different people around the world. For example, The Monadnock Center for Violence Prevention (MCVP), the company that I intern for has a twitter account and a Facebook page. This is very effective for them because this helps them advertise the different events that they are having. An example of this is that MCVP posted on their page stating that "There are still a few seats left for Trisha Meili's talk tomorrow at 3pm at Crotched Mountain Foundation! Email info@crotchedmountain.org today for more details and to reserve your seat!" While interning there I got added to their page as administrative. That way I am able to update any social media posts that needs to be posted. As an intern, I was told to mostly post information of their 35th anniversary key sponsor. I believe that MCVP's Facebook page is very effective due to the fact that they have 480 likes on their page and everyone is talking about it.

I believe that the social media marketing is beneficial because in today's society everyone is using it more frequently. As far as I am concerned, everyone that I know uses social media daily; even multiple times a day. I know that most people gather and find different information through social media. I remember this one time when someone asked how they found out about an event that was going on that was happening around campus. They replied with "I found out through Facebook." I believe that Facebook is the most common used social media because everyone has it and it is easy to use. In our generation, most people find out other information through Facebook. I believe that social media marketing is beneficial based on how many people use it and how well it can help advertise information and company's products. There are more and more websites forming that can help with social media and it is very effective.

For more information on MCVP's Facebook page please visit: https://www.facebook.com/MonadnockCenterForViolencePrevention

Do you think that social media marketing is beneficial towards older people, why? Can you think of a time that you have personally used social media as a way to market, was it effective and beneficial?

Social Media Campaign

In chapter 22, it focuses on social media. Social media is an exciting new field, and its potential for expanding a brand's impact is enormous. It is always important to start with a strategy. Some important evaluative areas include situation analysis, objectives, and evaluation. It is also important to understand the various types of media involved.

There are three different categories of media. These include owned media, earned media, and paid media. Owned media are online content that an organization creates and controls. Owned media include blogs, Web sites, Facebook pages, and even other social media presences. The purpose of this is to develop deeper relationships with the customers. Earned media is a PR term connoting free media such as mainstream media coverage. It is known that media can be earned through word of mouth or even online buzz about something the brand is doing. Earned media include viral videos, retweets, comments on blogs, and other forms of customer feedback resulting from a social media presence. Paid media are content paid for by the company to be placed online. Paid media are similar to marketing efforts that utilize traditional media. These include newspaper, magazine, and television advertisements. Paid media include display advertising, paid search words, and other types of direct online advertising.

In my opinion, I believe that owned media is the most beneficial and effective because the majority of the content is based on being online. I feel like this media is the most effective because everyone in today's society uses social media everyday and it is getting more and more popular. I believe that social media is the way how news travel fast and that is how everyone hears about things. The purpose of it is to also develop a deeper relationship with their customers. I consider this to be beneficial because you can tell a lot about someone based on their blog. I have discovered that in today's world there has been numerous amounts of people who have their own blogs and they write about their thoughts and feelings. I honestly believe that social media is the number one way to promote and advertise the quickest due to the amount of people using it; it is the way to get people interested and informed.

What type of media do you think is the most beneficial and effective? Do you think that one has a stronger strength than the other?

Response to Will Ferguson

Should John lay off some workers or cut wages to help keep the company alive?

I think that John should cut wages to help keep the company alive that way he would not have to lay off his employees. But, in reality if he did that then most employees would want to quit because they are getting a much less salary than expected. In all reality, if this happened John would lay off the workers because that is the way how society works now. In today's world, everyone is getting laid off their jobs because of today's economy and that is just sad because most people need their job in order to survive. I think that John should find another solution and take care of it in his own way because he should have more than one plan.

Do you think there is a benefit over laying off employees as opposed to cutting wages? If you were the owner of a company, would you have more than one plan? What would it be?

John Smith Dilemma

Yes, I think that John Smith should sell the names because the marketing research firm is on the verge of bankruptcy and that is not a good standard for their company at all. But, also I do not think that this is fair because of the car dealer offering John $8,000 for the names and phone numbers of people who are likely to buy a new car within the next 12 months. Of course, this lets the car dealer to sell more because John would want to earn his money worth so he would not have to lay off his employees but it is not fair to bribe him of money. As I gathered information from the American Marketing Association website, it stated that it was established in 1937 by visionaries in marketing and academia. AMA has grown to be one of the largest marketing associations in the world with over 30,000 members who work, teach, and study in the field of marketing across the whole world. I think that their statement of ethics relates to the John Smith's dilemma because AMA is constantly changing and helping to shape the field in the marketplace to help people with their careers. This organization helps marketers and academics connect with the people and resources that they need to be successful. Yes, I think that this is a common dilemma because I think that every company will go through something like this once in their lifetime and that is okay. It is always okay to ask for help and I believe that after reading about the American Marketing Association and what it has to offer; their number one priority is to help those who are in need. I believe that this is normal and once put in the position, you would have to make a huge decision that can impact the company as a whole. This is a huge step and someone who is willing to take the step has to know what they are doing and willing to take that risk.

Do you think you would have the ability/encouragement to sell the names if you were put in John Smith's shoes? Do you think that this is fear? Is this a decent way to help their company from bankruptcy?

 

Response to Melissa Moriwaki

Yes. I believe that this will effect doughnut customers because they are trying to advertise sandwiches, coffee, tea, and other frozen drinks more as time passes and it might influence their company and maybe some customers will forget that they are selling them. But, then again I feel like Dunkin Donuts will always be marketed towards doughnut eaters because Dunkin Donuts is always known to sell doughnuts. I know in my opinion, I will always know Dunkin Donuts for their doughnuts and coffee and how American runs on Dunkin. I feel like Dunkin Donuts will be fine with this transition because it has always been well-known that they always sell doughnuts and that they always will no matter what. This will effect Dunkin Donuts based on how some marketers will forget that they are selling doughnuts and that they would not get as high of a purchase than in the past.

Will you always remember that Dunkin Donuts sells doughnuts if they do not advertise it anymore? Do you think this would effect Dunkin Donuts in a huge way? What would be some of their benefits? 

The Goals of Promotion

People communicate with one another for many reasons. Promotion seeks to modify behavior and thoughts in some way. Promotion can perform one or more of three tasks: inform the target audience, persuade the target audience, or remind the target audience. Sometimes a marketer will try to accomplish two or more of these tasks at the same time.

Informative promotion seeks to convert an existing need into a want or to stimulate interest in a new product. This happens more during the early stages of the product life cycle. Informative messages are important for promoting complex and technical products such as automobiles, computers, and investment services. An example of this is when Apple came out with the iPhone and the whole touch screen process was new to the Smartphone category.

Persuasive promotion is designed to stimulate a purchase or an action. Persuasion normally becomes the main promotion goal when the product enters the growth stage of its life cycle. Persuasion can also be an important goal for very competitive mature product categories such as many household items and soft drinks.

Reminder promotion is used to keep the product and brand name in the public's mind. This type of promotion generally happens during the maturity stage of the life cycle.

In my opinion, I believe that persuasive promotion is the most important and effective because it is able to make customers want to buy the product. This promotion helps because this product enters the growth stage because you will be able to get customers to buy the product if you are persuasive. For example, in most cases that I have seen are based on the infomercials because they would normally state the fact that "If you call now, you can get two more of our products for free." This generally will help their target marketers to not even think twice about purchasing the product.

Which promotion do you think is the most effective? Why? Do you think one is more beneficial than the other one?

Response to Katie Longchamp

Inelastic demand is when there is a necessity as opposed to wanting the product. Some other products that I can think of that have an inelastic demand are home heating oil, rent, and prescribed medication. I believe that all of these have an inelastic demand because they are a necessity because everyone needs it for survival. For example, I do not think that anybody would be able to survive without home heating oil because that is an important necessity especially in the winter because everyone likes to stay warm and not be cold.

No, I do not think that the consumer has any control over prices of products with an inelastic demand because they need to pay it no matter what because in most cases it is a necessity to them. For example, consumers can not pick how much they want their rent to be because if that happened everyone would be paying close to nothing. In most cases, consumers do not have control for setting what price they want over products because that just would not be fair. I believe that if they had this power then they would make it very inexpensive. Rent is an inelastic demand because in most cases it is the same price for each month and it is due on a specific date.

Have you ever encountered a problem where you bought a product that has an inelastic demand? Did you buy it? What was your decision factor for it? 

Other Determinants of Price

As discussed in chapter 19, other factors besides demand and costs can influence price. Some examples of these factors are the stages in the product life cycle, the competition, the product distribution strategy, the promotion strategy, and the perceived quality. All of these factors have the ability to affect price.

The stages in the product life cycle are introductory stage, growth stage, maturity stage, and decline stage. The introductory stage is when management usually sets prices that are high. The reason for this is to hope to recover its development costs quickly. Demand originates in the core of the market and it is somewhat inelastic. Growth stage is when the prices generally begin to stabilize for several reasons. There are three parts to this: competitors have entered the market, increasing the available supply, the product has begun to appeal to a broader market, often lower-income groups, and economies of scale are lowering costs, and the savings can be passed on to the consumer in the form of lower prices. Maturity stage brings further price decreases as competition increases and inefficient, high-cost firms are eliminated. At this stage, price increases are usually cost initiated, not demand initiated. This happens because demand is limited and producers have the same cost structures, the remaining competitors will probably match price reductions. Finally, decline stage is the final stage of the life cycle where you can see further price decrease as few of the remaining competitors try to save the last demands. Prices begin to stabilize when only one firm is left in the market.

In my opinion, I believe that the maturity stage is the most important because distribution channels are a huge cost factor based on the need to offer wide product lines for highly segmented markets, extensive service requirements, and the sheer number of dealers necessary to absorb high-volume production. This is also important due to the fact that demand is limited and producers have similar cost structures along with the remaining competitors will probably match price reductions.

Which stage do you think is the most important, why? Do you think each has its own benefits? What do you believe they are?

Response to Nick Vita

With annoying hosts that talk way too fast and act way to excited about everything, these infomercials can lead customers away more than bringing them in.  What is your take on this infomercials? Are they a good marketing tactic for a company?

My opinion on infomercials is that I think that it can be very annoying because I am not a fan of them. I would like it if I could watch my television shows all in one without any interruptions but that is just not the way that it works. Also, I believe that the annoying hosts that talk way too fast about how excited they are to sell their product are leading customers away then bringing them to buy the product. But, in other times I can find infomercials to be very entertaining and interesting. For example, I remember this one time that I saw an infomercial about the DVD workout about insanity. Something about this infomercial just caught my eye and to me it was very persuading and I began to look more into it and I finally decided to buy the product. I believe that infomercials can sometimes be a good marketing tactic for the company if they are doing things right, but in other times it can be a bad marketing tactic because sometimes customers would not want to listen to the hosts or they just do not care. I mean, if they make it sound interesting and persuading they will most likely get more viewers and have a better chance to target the market. 

Can you think of a time that an infomercial targeted you to buy the product? What was the product? What made you decide that you wanted to purchase this product? 

Business Processes

As discussed in chapter 14, business processes are composed of bundles of interconnected activities that stretch across firms in the supply chain; they represent key areas that some or all of the involved firms are constantly working on in order to reduce costs and/or generate revenues for everyone throughout supply chain management. There are eight critical business processes on which supply chain managers must focus:
1. Customer relationship management
2. Customer service management
3. Demand management
4. Order fulfillment
5. Manufacturing flow management
6. Supplier relationship management
7. Product development and commercialization
8. Returns management

The customer relationship management process allows companies to prioritize their marking focus on different customer groups according to each group's long-term value to the company or supply chain. The customer service management process presents a multi-company, unified response system to the customer whenever complaints, concerns, questions, or comments are voiced. Demand management process seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating demand-related plans of action prior to actual customer purchasing behavior. Order fulfillment process is a highly integrated process, it is often requiring persons from multiple companies and multiple functions to come together and coordinate to create customer satisfaction at a given place and time. Manufacturing flow management process is concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multi-stage production process. Supplier relationship management process supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers. Product development and commercialization process includes the group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms. Returns management process enables firms to manage volumes of returned product efficiently while minimizing returns-related costs and maximizing the value of the returned assets to the firms in the supply chain.

In my opinion, supplier relationship management process is the most important because it supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers. This is very important because it is a key step toward ensuring that firms' manufacturing resources are available. This has a direct impact on each supply chain member's bottom-line financial performance. This is also important because communication is key and the employers should always communicate with their employees to make sure that they know what is going on within the company/firm.

What business process do you think is the most important? Do you think one is more beneficial to have when working in a company/firm?

Response to Jade Brulotte

Do you think this ad is a clever way to sell more of a product they have already promoted in the past?

Yes, I think that this ad is a clever way to sell more of a product that they have already promoted in the past because if the company is trying to tell what people think that is why they are putting an ad out that is geared towards women's hair preferences for men then they are able to sell the product more. For example, I believe that this could work because most men would want to see what women prefer because they are trying their best to target them because they want to show off towards women and they want to do that in the best way possible.

I know for most women they do not think that a lot of hair on the chest is attractive. As Jade has stated, from an article about how back in the 60's and 70's men who had chest hair were attractive whereas now it is with men who have polished torsos and well defined six packs and pecs. I believe that this is true because women nowadays are attracted towards men who are muscular and in shape with six packs whereas if they are not. 

What is your own preference of men? Do you think that chest hair is more attractive in the past as oppose to the present?

Alternative Channel Arrangements

A producer uses several different or alternative channels, which include multiple channels, nontraditional channels, and strategic channel alliances. Each of these channels can be used to its own advantage.

Multiple channels is when a producer selects two or more channels to distribute the same product to target markets. This channel can be used to its advantage because more people are shopping online, therefore the number of retailers that are using multiple distribution channels are increasing. For example, Victoria's Secret sells their products in stores, online, and even through catalogs. This is very beneficial to their company because they are selling their products in different ways. Therefore, they have the ability to get more customers to buy their products because they are technically selling in three different areas.

Nontraditional channel arrangements help differentiate a firm's product from the competition. These include the Internet, mail-order channels, or even infomercials. An example of this is Redbox because you can find them in different stores such as Walmart, Walgreens, and they are even installing them in local gas stations too. Customers can also reserve their movies online in order to see which movies are available at the time being. Redbox has become very popular over the years and people don't go to different stores to rent their movies anymore because Redbox has come to the point where they are only charged $1.00 a night and it is much cheaper then renting a movie.

Strategic channel alliance is a cooperative agreement between business firms to use the other's already established distribution channel. For example, there was a signed contract between Verizon Wireless and the National Football League in allowing Verizon to broadcast live Sunday afternoon football games to their fans. This is becoming more successful in the business because sometimes working together can be very beneficial.

In my opinion, I believe that all three of these channels are beneficial in their own ways. But, I feel as if multiple channels is the one that I would choose because I am a typical girl who likes to shop. With the producer selecting two or more channels to distribute the same product to target their marketers I think that this is their most strong point because they are thinking of what is best for their company and how they can target their customers more and more. Making their products available in store, online, and even through catalogs is superb because everyone has their own preference and they have the ability to choose how to purchase their product.

Which alternative channel arrangement would you prefer and why? Do you think that one is more effective over the other? How so?

Response to Kaley DeBoer

I think that each market segmentation has its own benefits when establishing a target market and it also depends on the product. I believe that each market segmentation has to be included into the factor when they are trying to target the market because of their different advantages and disadvantages. For example, the different brand names such as Abercrombie and Hollister tend to be very popular in today's society. But, in most cases most people can not afford to spend $60-$90 on a pair of Abercrombie or Hollister jeans. Or in another case scenario, Abercrombie and Hollister are targeted more towards teenagers and people who are in their 20s as opposed to children or older people. In these cases, they are experiencing with demographic segmentation because they are marketing by the age and income. It would be very beneficial to consider all of the segmentations when determining to target a market. That way each segmentation can have their own advantage and not be excluded when they are trying to target a certain market.

For example, I am one of the people who shop at Abercrombie and Hollister based on their different products that they have to offer. Most of my clothes that you find in my closet will most likely be from Abercrombie or Hollister. But in this sense, if the product is expensive or out of my budget then I would not purchase it. For example, $90 for a pair of jeans is just crucial and ridiculous. I can find somewhere else to buy a pair of jeans for much cheaper. It also depends on how much you are willing to spend on a certain product.

Have you ever found yourself to buy something that affected one market segmentation over the other? Which one was more beneficial to you that made you purchase the item?

Multi-Segment Targeting Strategy

In the article, "What Is Multi-Segment Marketing?" by Helen Akers, it states that marketing is a discipline that attempts to identify and serve the unique needs of separate segments. Throughout research, it is known that marketers divide potential customers into groups based on their own characteristics. Some of these traits include professions, income levels, geographic groups, lifestyles, aspirations, and even perceptions. It is stated that when companies target more than one segment, then they are experiencing with multi-segment marketing. Some of their segment needs include that when companies decide to bring a product or service to the market, then they will look for needs that are either not being met or that could be met in a different way.
To read more visit: http://smallbusiness.chron.com/multisegment-marketing-25419.html

As discussed in our textbook, multi-segment targeting strategy is a strategy that chooses two or more well-defined market segments and develops a distinct marketing mix for each (pg.141). Multi-segment targeting offers many potential benefits to firms, including greater sales volume, higher profits, larger market share, and economies of scale in manufacturing and marketing. Another potential cost of multi-segment targeting is cannibalization, which occurs when sales of a new product cut into sales of a firm's existing products.

I feel like cannibalization can be a huge advantage and disadvantage to the firm because in one way it is willing to help the firm out because there is a new product on sale and everyone would be so drawn into it and would research more about it. But, then it can also be a disadvantage because if the company is trying to sell their product and there is a new product that is on sale then, most likely that product would target the customers more. The company would be dealing with competition and that is not what they would want to do. Also, having a multi-segment target has its benefits because of what they have to offer: greater sales volume, higher profits, and larger market share. All these factor into what makes the company become more and more successful.

Do you think multi-segment targeting strategy can have disadvantages? What do you think they are?

Response to Jonathan Tomachick

Has a sale ever persuaded you to buy something you didn't expect to at first? Do you find yourself doing the same when you shop? Have you ever had to cut another shopping trip short because of splurging for sale items the week prior?

 Yes, a sale has persuaded me to buy something that I didn't expect to at first. I was watching television and I remembered watching commercials of someone advertising to sell snuggies; the advertisement was so convincing and persuading that it caught my attention and I wanted to buy the product and test it out. For example, a sleeved blanket just sounds so convincing and interesting to me. It also advertised that it is very comfy and you are able to do anything because both of your hands will be free. It also stated that you will be very warm when using this product. I remember that I would tell myself that I would never get this product but now, I am second guessing myself because it seems like a product that I would be very satisfied with.

Yes, I also find myself doing the same thing when I shop because I would think to myself if I would really need the product that I want to purchase. But, in the end if the sale is worth it I would end up buying it because I know for my favorite stores such as Hollister and Abercrombie; their clothings are most times expensive and if the clearance of the sale goes down by an effective amount then I would most likely purchase the item. No, I have not found myself to cut another shopping trip short because of splurging for a sale item the week prior because I am the type of person who likes to shop and I can basically do it for numerous hours. I also believe that shopping is somewhat of my stress reliever because it makes me feel better. Shopping is what I do best and I would never pass up on that opportunity to do it.

Is there a certain percentage of sale that would influence you to change your mind in purchasing an item? For example, if the product was 25% off as opposed to 50% off? Which one would you end up picking?

Maslow's Hierarchy of Needs

As discussed in chapter 6, Maslow's hierarchy of needs is a method of classifying human needs and motivations into five categories in ascending order of importance: physiological, safety, social, esteem, and self-actualization (pg. 106). It is noted that as a person fulfills one need, a higher-level need becomes more important. Physiological needs are the most basic needs for a human; such as food, water, and shelter. These needs are needed in order to survive. In my opinion, I think that the physiological needs are the most important because they are a necessity to life. Without those needs, nobody would be able to survive. Safety needs are needed for security and freedom from the pain and discomfort. This need helps marketers sell their products. For example, everyone would want to feel safe at all times. Mostly, for the ones who are ill; they would want to know that they can count on the doctors and nurses in the hospital to take care of them. Social needs include love and the sense of belonging. Love is always needed because it is the acceptance without regard to one's contribution. Self-esteem needs include self-respect and a sense of accomplishment. Esteem needs include prestige, fame, and recognition of one's accomplishments. I also believe that esteem is very important because it sets an image for oneself and it is very significant to have self-respect for yourself. The highest human need is self-actualization; which means that "people are what they feel they should be." I feel as if this need is the one who mostly convinces the consumers to buy their products.

If I had to narrow it down, the top three Maslow's hierarchy of needs that are the most significant to my life are the physiological needs, safety needs, and the social needs. Physiological needs are the most essential for me because without them I would not be able to survive in the world because no one person is able to survive without food, water, or even shelter. Those things are the most important in everyday life. Safety needs are also important because everyone needs to feel secure and protected. In my opinion, I would like to feel safe everywhere I go because that is the type of person I am and I would get paranoid if it was any other way. Social needs are also a huge factor in my life because without my friends and family I would not know what I would do. They are always there for me whenever I need them and in the end I know that I can always lean on them if I am feeling down and need someone to cheer me up.

What three Maslow's hierarchy of needs are essential to your life? Which one do you think is the most important to you?

Response to Will Ferguson

Question: Do you think music gets marketing to consumers the same way products do?

Yes, I do believe that music gets marketing to consumers the same way products do because there are different types of music out there that target different people. I also believe that the different types of music someone listens to describes their personality and what type of person they are. Different types of music can target a wide variety of people based on their age, race, and even gender. For example, Justin Bieber targets most teenage girls as opposed to males. People who listen to country music are considered to be hillbillies or Southern people but that is just stereotyping.

I am the type of person that listens to any type of genre music but, I am not a fan of heavy metal or country. There is something about their music that does not satisfy me and I just can't stand listening to it. Part of me feels like that is just my personality and it just says what type of person I am. The type of music that I listen to also depends on my mood that day and that second. For example, I would listen to upbeat music if I am excited about something or when I am at the gym because it motivates me more to listen to that type of music. I am also that type of person who would also put some songs on replay. For example, Taylor Swift is the person who I go to to make me feel better, somehow whenever I feel down I would listen to her songs and everything will be alright and she makes me in a better mood.

Do you have a artist/band that you listen to whenever you are feeling down and they are able to fix it?

New Products

As discussed in chapter 11 of our textbook, new products are important to sustain growth, increase revenues and profits, and replace obsolete items. New products has a variety of meanings that ranges, but in reality the term has several "correct" definitions. New product is a product that can be new to the world, to the market, to the producer or seller, or some combination of those (pg. 179).

There are six categories of new products: new-to-the-world products (discontinuous innovations), new product lines, additions to existing product lines, improvements or revisions of existing products, repositioned products, and lower-priced products.

An example of a new product is that Pepsi was introduced a new skinny can at the New York Fashion Week. An article that I found interesting on this product is "Diet Pepsi's New Skinny Can: A Brand Heavyweight?" Jonathan Asher, senior vice president at Perception Research Services International stated: "This package is different in a way that so suits the product proposition. It's a sleek, thin, slender, stylish can. That imagery is so fitting for a diet soft drink." I feel like this new product of Pepsi is targeted more towards women because the package makes them look at the product more differently and closely and will somehow convince them to buy the product. I believe they are getting more women customers based on the new packaging of this product especially since they introduced it at a New York Fashion Week. By them introducing it right there and then, they are trying to catch the target market's eye and attention.

"Diet Pepsi's New Skinny Can: A Brand Heavyweight?" article can be found at http://www.prsresearch.com/prs-insights/article/diet-pepsis-new-skinny-can-a-brand-heavyweight/

http://i2.cdn.turner.com/money/2011/02/08/news/companies/pepsi_skinny_can/pepsi_skinny.03.jpg


Which category of new product do you think is the most popular, why? Do you think by looking at the new product of Diet Pepsi with its new packaging it would target you to buy the product?

Response to Nick Vita

Yes, I  think that the NFL should stop advertising on the uniforms because as Nick has said, it is really sad that they are just advertising these uniforms because they need to find a way to make more money. Granted this is a great idea to advertise because customers are willing to buy these jerseys because these professional sport teams are popular and these sports teams are targeted more towards men. I feel as if these sport teams should try harder to make something work then advertising jerseys to help pay for their incomes.

 Do you think that this is a fair way to earn their incomes? What other options should they take into consideration instead of advertising their uniforms?

Exporting

As discussed in chapter 5 of our textbook, exporting is selling domestically produced products to buyers in other countries (pg. 75). The company is able to sell directly to foreign importers or buyers. Exporting is determined to be the least complicated and least risky alternative. The United States is the world's largest exporter.

For example, there are three types of intermediary. The most common one is the export merchant (buyer for export) which is treated like a domestic customer by the domestic manufacturer. The second type of intermediary is the export broker who plays the traditional broker's role by bringing buyer and seller together. The third type of intermediary is export agents because they are foreign sales agents/distributors who live in the foreign country and perform the same functions as domestic manufacturers' agents that help with international financing and also shipping.

In my opinion, I feel like the buyer for export is the most important because they assume all the risks and sells to other countries based on its own. They are taking such a huge risk on this but they know that in the end it is worth it because different countries admire their products because they want to purchase it.

Which intermediary do you think is the least important? Which do you think is the most important as to getting more customers?

Response to Kaley DeBoer

I think that it is more beneficial for a company to have a range of different target markets because the company has to decide to aim its marketing efforts to a variety of people in order to make money. If the target market is only aimed at just one specific target market then they are bond to lose money and business. When targeting the market, companies have to consider geographic, demographic, and social cultural factors. For them to consider these factors they are most likely to get a large variety of people interested in their products.

As people grow older their tastes and preferences will change. Entertainment is an industry that frequently uses the age demographic to help determine a target market. For example, a television show may be given a particular time slot because market research shows that people ages of 13 to 18 watch television during that time and that is the target market the show is going for. For example, when I was younger I remember that they would show cartoon shows about 7-9 in the morning because that was when toddlers would be getting ready to go to school and they would be allowed to watch television around that time.

Can you think of a time when geographic, demographic, or social cultural factors have been involved that targeted you to buy a certain product? Were you satisfied with the product that you bought?

Component Lifestyles

As discussed in chapter four of our textbook, component lifestyles is the practice of choosing goods and services that meet one's diverse needs and interests rather than conforming to a single, traditional lifestyle (pg. 47). Each lifestyle is different and each one is associated with different goods and services that represents a target audience.

For example, Special K products are targeted more towards women. They would see "Losing up to 6lbs in 2 weeks just got easier!" on the Special K cereal box and that would instantly catch their eyes. They would want to give this product a try since the advertisement of the product is persuasive. This product is targeted more towards women because they want to get fit and slim so they trust that this product will satisfy their needs. Special K products are linking weight loss to health food and nutrition.

For me, Special K products have targeted me because their advertisement sounds convincing that I wanted to give it a try. I mean, what do I have to lose? In the sense of what I have learned, Special K products are healthy and nutrition. But, I have not quite followed through to see if losing 6 pounds in 2 weeks was possible. There have been some stories released that it is pretty accurate. I can state that I was customer satisfied with this product and I would occasionally purchase the different products that they have to offer.

Can you think of a time where you purchased something that targeted your lifestyles? Were you satisfied with the product?

Response to Kaley DeBoer

In response to the question asked if it is possible that all things legal are linked back to some sort of ethics, or rather could all things that are ethical be linked back to some legality, I think that all things legal are linked back to some sort of ethics because for something to be legal- it has more power and something has already been established. The definition of legal would refer to something of which that is appointed, established, or authorized by the law. For example, in order to buy lottery tickets you would have to be the age of 18. As the textbook has stated, ethics is defined as the moral principles or values that generally govern the conduct of an individual or a group. I think this is the case because for something to be legal you have to qualify for it and fit the qualifications.

There are other differences between ethics and legal. For example, laws can change over time, they vary from state to state. But, for the most part, political and economic interests are often determined for how laws get passed and what is in those laws. But on the other hand, ethics are way different. Ethics exceed time, place, and other qualities. In this case, this is possible for them to not be related at all in this situation.

Do you think that one has more power over the other? How would you qualify which is more powerful?

Corporate Social Responsibility

As stated in our textbook, corporate social responsibility (CSR) is a business's concern for society's welfare. This is related to the best interests of the company and the company's relationship to the society based on how it is involved.

It is known that CSR can be a divisive issue. In other words, it means that they tend to cause disagreement or hostility between people. According to Friedman: "Business executives spend more money than necessary-to purchase delivery vehicles with hybrid engines, pay higher wages in developing countries, or even donate company funds to charity. They are spending shareholders' money to further their own agendas." This can cause an issue among people because they are not spending their own money for their needs. Some would argue that this is not fair and I agree because they are taking money out of someone else's pocket to accommodate their own needs.

But, on the other hand, CSR has an increasing amount of supporters based on several compelling factors. For example, it is simply the right thing to do. Some of them include pollution and poverty-level wages. It is known for their responsibility of business to right these wrongs. I believe that businesses should be given the chance to solve these problems because they have resources and they can help with that. "Business can provide a fair work environment, safe products, and informative advertising." I believe this to be true because they are capable of doing anything they set their mind to and also they can do anything with extra help and support.

CSR has four components: economic, legal, ethical, and philanthropic. Which responsibility do you think is right for the society? Do you think different businesses would act upon it?

In Response to Nicholas Vita's Post

I agree with Nick's post that in order for a customer to be satisfied with the product or service it has to be based on what the customer wants and needs. Also, their expectations for that product or service has to be met. They have to know that they are spending money on something that is beneficial to them and long-lasting. Otherwise, what is the point of spending money on something that has no value to them? For example, if the customers satisfaction are not met then they would most likely not want to buy the product. I know for me, customer value also has a huge effect with customer satisfaction. I would go to different stores to compare and contrast that same product that I want to buy. This is a sufficient way to hear different reviews and different opinions. It also helps opt out your choices in price if it takes an effect in your final decision.

If you were to buy the same product for a lower price why wouldn't you?

Customer satisfaction and customer value

Are customer satisfaction and customer value interdependent or mutually exclusive? Can satisfaction occur simultaneously with low customer value?

Customer satisfaction and customer value are two different ideas. But, I feel like they are interdependent with one another because they have something in common; to benefit their customers. 

In our marketing book, customer value is defined as "the relationship between benefits and the sacrifice necessary to obtain those benefits" (pg. 7). Customer value is not simply a matter of high quality. In this case, customers value goods and services that are of the quality they expect and that are sold at prices they are willing to pay. For example, a high quality product that is available only at a high price will not be perceived as a good value or a low quality good selling at a low price. Value all depends on what the customer is looking for and seeing what offers they can get based on different company competitors. For example, I know when I am trying to purchase something I would go to different stores to try and compare the prices of that same product. I mean, why spend more on an item if that same product is being sold somewhere else for much less?

Customer satisfaction is defined in our marketing book as "customers' evaluation of a good or service in terms of whether it has met their needs and expectations" (pg. 9). What this basically means is that failure to meet needs and expectations results in dissatisfaction with the good or service. In this case, customer value does not have to come into play because if they are satisfied with their product then, it doesn't have anything to do with the price. For example, when I got my blackberry I was unsatisfied with the product that the price had something to deal with it because my battery was draining and I had to charge my phone several times a day. But, when I bought my iPhone I was satisfied with the product and what it has to offer. The iPhone has met my needs and expectations more than my blackberry and I could not be happier with the decision I have made. 

  No, I don't think that satisfaction can occur simultaneously with low customer value because if the customer value is low then I don't think it would turn out to be a good satisfaction rate. I know that for most people if they had low customer value, then their satisfaction would also be low too. Therefore, customer value and customer satisfaction are interdependent since they both have something in common with what they are trying to give their customers.

Do you think customer value would affect more than customer satisfaction when customers are choosing what product they purchase?