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?