Consumer and
Business marketing have some similarities as well as some differences. There
are several levels that might affect consumer buying behaviors. "Buying
behavior is never simple, yet understanding it is the essential task of
marketing management. Fist we explore the dynamics of the consumer market and
the consumer buyer behavior." (Marketing an Introduction, P.136) There are many series of stages for
business to think about before marketing to anyone. Then they can examine
business markets and the business buyer process as well. The first step is the
consumer buyer behavior which is "the buying behavior of final
consumers—individuals and households that buy goods and services for personal
consumption." (Marketing an Introduction, P.136) Certainly consumers are the ones who
are targeted because they/we are the ones that buy the products and they/we are
the ones who consume the products as well. All of the consumers in the nation
are the ones who make up the consumer market. "The American consumer market consists of more than 300 million
people who consume more than $14 trillion worth of goods and services each
year, making it one of the most attractive consumer markets in the world. "
(Marketing an Introduction, P.136) If
you consume a product or good you are part of the consumer market. According to
our marketing book, the world consumer market consists of more than 6.8 billion
people who annually consumer about $70 trillion worth of goods as well as
services. The exact definition for business buyer behavior is "the buying behavior of the organizations that buy goods and
services for use in the production of other products and services or to resell
or rent them to others at a profit." (Marketing
an Introduction, P.157) The difference between consumer marketing and
business marketing is the fact that consumer marketing is consumed by consumers,
and business marketing are products that are marketed to the consumers. The
business marketing people are the ones who make profit from the products that
the consumers consume every day.
Wednesday, July 31, 2013
Wednesday, July 24, 2013
Week 3 EOC: My Demographics
The Millennials (or Generation Y) generation is
considered to be "both the baby boomers and Gen Xers will one day be
passing the reins to the Millennials (also called Generation Y or the echo
boomers). Born between 1977 and 2000, these children of the baby boomers number
83 million, dwarfing the Gen Xers and larger even than the baby boomer segment.
This group includes several age cohorts: tweens (aged 9–12), teens
(13–18), and young adults (19–32). With total purchasing power of more
than $733 billion, the Millennials make up a huge and attractive market.
(Marketing an Introduction, Armstrong, P.73) The Millennials are the 83 million
children of the baby boomers. According to this definition I fit into the
Millennials generation. I would be consider to be a young adult. According to
our Marketing book, what Millennials have in common is their utter fluency and
comfort with digital technology. I do believe this is true, because in my case
I do love technology and when something new in the technology industry comes
out, I enjoy knowing how to work it. I also do like electronics and I am very
comfortable with technology. In the book they say that as Millennials, we "don't
embrace technology, it's a way of life." I also agree with this statement
because everything that I do involves technology. For example, I do all of my
homework with a computer, and I am always on my phone. There is not one day
where I do not use technology in my life, I always do. We not only have
computers available, but we also have grown up with cellphones, satellite TV,
iPods, and online social networks. I have do have access to all of the things
just mentioned. We are the generation that uses most of the technology, and I
do agree that we are. The definition that our Marketing book has about the
generation Millennials, I do believe that it is on point and I also believe
that it describes me one-hundred percent.
Sources: http://digitalbookshelf.artinstitutes.edu/#/books/9780558851903/pages/48921802
Week 3 EOC: Making Money for Good
 |
| http://www.nikawater.org/ |
Nika is a company that focuses on giving back to the
community and people who is in need of water. This company supports those
countries where people do not have water to drink, Nika makes it possible for
those countries to have accessibility to water. Nika's company sells water,
apparel, accessories, as well as other things. This company is a known to be a company
that makes money for good. "What if every bottle of water you drank
provided clean water to someone in need?" (http://www.nikawater.org/assets/pdfs/Nikagivesall.pdf)
There plan to help people in need of water is, for every purchase that is up to
$20, the company will "directly to SurfAid International in providing a
new clean water project in the Mentawai Islands of Indonesia." (http://www.nikawater.org/) This company
makes it very easy for people and its consumers to purchase their products, as
well as letting their customers know that they are buying a product that at the
end will help people in need of clean water. "Nika Water is social cause-
driven, eco- responsible, premium bottled water, currently sold in thousands of
nationwide retailers." (http://www.nikawater.org/about-us/)
This company is very serious at what they do because they show that they care
about those in need who live in poverty. This company has all ready helped so
many countries who are in need of clean water. They have committed to over
$400,000 to water wells, plumbing, water catchment systems, schools, as well as
trees. Some of the countries that this Nika has all ready help are Kenya,
Uganda, Sri Lanka, Tanzania, Brazil, Ethiopia, as well as Nicaragua. Nika is a
very caring company that not only cares about the people in need, but also
cares about the environment. Their Nika
Water is considered to be one of the most environmentally friendly bottled
waters that are in today's market place. Nika is one of many companies that
care about poverty as well as the environment.
Wednesday, July 17, 2013
Week 2 EOC: Boston Consulting Group - Video Games
Technology in entertainment has severely changed
over the recent years. "In 1982, Creative Computing magazine picked up on
the idea that Tennis for Two might be the first video game ever and it
published a story on the game in that year's October issue." (http://www.bnl.gov/about/history/firstvideo.php)
In the year of 1985, the first Nintendo system came out and it end up
"Selling over 60 million units, people brought games like Mario and Zelda
into their homes for the first time on the NES." (http://www.nintendo.com/corp/history.jsp)
The Nintendo company has continued to come up with new technology in the video
game area. I believe that Nintendo as a video game company and their video game
system, The Wii stands in the Star of the BCG Growth-Share Matrix. This is one
of the video game companies that has been there since the beginning, and that
is why I feel that they are in the Star. I believe they listen to their target
audience as well as how technology is changing and growing. They are one of the
companies that have adapted to the changes of technology and have come up with innovated
ideas and creations for their consumers. I would say that in the BCG
Growth-Share Matrix, the Xbox 360 + Kinect would fit the category of the Cash
Cow. I believe that this system fits in this category because they are also
changing and adapting to new technology. "Because with Kinect, there are
no controllers. Or remotes. There's just you. And if you ask us, that's all you
need." (http://www.xbox.com/en-US/KINECT)
I really do like the idea of no controllers when you play video games, it gives
it a more interactive concept to the idea of video games and I think it is more
interesting and can be more fun. I also think it's a better way to have fun because
your actually working out instead of just being lazy and just sitting down. I
really like how this company has changed many things in the video game
industry. Lastly, I think that the PlayStation would fit in the Question Mark
category of the BCG Growth-Share Matrix. I believe this because I don't think
they are as innovative as the previous companies, although they have really
good products. It's very interesting to see how many companies innovate and
adapt to the environment and everything around them, while other companies
think they have a good product, and they forget about the idea of innovation.
http://www.nintendo.com/corp/history.jsp
http://www.nintendo.com/corp/history.jsp
Thursday, July 11, 2013
Week 1 EOC: Great Customer Service
People have different ideas and views on what they think
great customer service is. Some people define great customer service as the
employee knowing everything about the brand and company they are working such
as the knowledge of their inventory. Most people on the other hand define great
customer service as treating the consumer or customer with respect, friendliness,
as well as helpful attitude. I agree with the above. I believe every customer
should be treated equally and with a lot of respect, because if it wasn't for
your consumer your company wouldn't be anything. The consumer makes the company
that you have, without them the company would not be anything. I've had a lot
of bad experiences with bad customer service, but I have also had times
where I've had received good customer
service. One day my sister invited me to go shopping with her to Dillards, the
department store, and fortunately we found a great sales person that was
helping us with everything that we needed. They were there to assist with
anything that we needed help on. The sales person was more than happy to help
us on questions that we had about their products, as well as other things. They
had good knowledge about their product/inventory. I believe that is very
important when there is a sales person trying to sell something to the customer.
Since we enter the store they were very friendly and greeted us into the store,
as well as at the end when we finished with our shopping and left the store.
When people get great customer service, it makes you want to come back to the
store. My sister and myself went back to the same store a few days after to
purchase more items for her bathroom. Since this great experience that we had
at Dillards, my sister and I continue to shop there. Sometimes all it takes is
a smile and a welcoming feeling that the sales associates give you once you
walk in the store.
Week 1 EOC: My Voice
Fashion is not just a popular trend that comes and goes, it’s a form of expression from all of us around. Fashion helps us identify our own unique personality and self style. Our fashion appearance helps us communicate with others without having to say a world. Without fashion this world would be dull, boring, and no one would have a sense of style. This is one of the reasons why I decided to join and follow a career in the fashion industry. Since I was little I’ve always loved to be in style and have always had a passion for clothes. I enjoy learning everyday about new fashion designers and new fashion trends. Fashion has always helped me identify myself and has helped me learned about myself. Everyday I enjoy learning more and more about the fashion industry, is not just learning about the clothes and the new styles that are introduced to us everyday, but I also get to learn how the business side of the fashion industry works. I have so much to offer to the fashion industry. I have so much passion, dedication, and precision for the world fashion. I know someday I will accomplish many more things in the fashion industry.
Subscribe to:
Posts (Atom)