View of Marketing: Then and Now

    Unfortunately, in my previous program, we focused greatly on marketing and how a company portrays themselves in order to be successful. With this, we learned a lot about how a company makes decisions and why. Now, although we didn't solely have a marketing class, there was a lot of information that was shared between the courses in that program. With this, much of the content learned in this course is previous knowledge from my past education.

Image from Google Images.

     Although this is the case, there are a few things that I found to be new. These new things typically revolve around numbers and the likelihood for various strategies to work. For example, the 20/80 rule is something that is new since I have been in the marketing course. This is extremely important in knowing who exactly should be your companies target market, and how to best focus on these consumers. This rule will be something that I also take with me as a proceed into the business world. I will be able to consider the amount of clients as well as the amount of products that will be successful.

Image from Google Images.

    With this rule in mind, there are also a lot of avenues for learning and growth. This rule will lead towards other rules that also affect the status of a company and it's products. It will also lead to understanding how and what attracts various consumers in order to have the greatest numbers possible.

Receiving Emails

    When shopping, often times stores ask for a personal email upon checkout; most popularly, clothing stores. One clothing store in the area that does this is Garage. Garage will sign you up online while checking out, and you will receive emails greatly focused on in store savings via coupons.
    Although the emails can sometimes be beneficial, they are not personalized, beyond sometimes having the recipients name in the first line. These emails are generated by computer systems and sent out in batches to reach as many customers as possible. By inserting the consumers name, the company does try to personalize the email to some extent, however, the purpose of the email is to advertise everything store wide versus exactly what the shopper goes into the store for. Personalizing the emails further would be possible, however, it would be a large task.
    To further personalize, there would be the option to advertise more about what the consumer last purchased at the store if such records were kept upon purchase. This would allow the consumer to get an email focused on their wants. With this, there would be more time and computer processing involved in order to ensure that each consumer gets the email focused on the proper products.

Image from Google Images.

    The option to get an email is highly encouraged by staff, but there is also the option to unsubscribe. This allows the consumer to opt out of the option from home at any time if they do not want the emails. By doing this, the consumer wouldn't get the advertising from the particular store, however, they then also wouldn't get the coupons that typically are attached.

Odd-Even Pricing

    I believe that it is always a good strategy to stand out from your competitors in the market. Some do this by the products they carry, and the look of such products, but there are other ways to stand out. For example, I feel that A&W stands out from their market in the way they price their products. A&W's competitors often use odd-even pricing, whereas at A&W they do not. This would allow consumers to feel a difference between the products, and thus be drawn towards A&W. A&W has also been around for several years, so by having the continuous theme through their pricing, they would set an image for themselves. This would increase loyalty and allow those loyal consumers to entice others to take part in the franchise.

Image from Google Images.

Struggling Retailer

    Many companies that we see in Canada today are based out of the US. This can cause many problems for retailers, between shipping, costs and various standard control systems. One company that is current seeing a struggle in today's economy is Sears department stores. Today, there are a large variety of stores offering similar products as Sears. This allows for great competition in the market. Although Sears is known as a higher end department store, more and more people are finding themselves looking at purchasing at lower price ranges. With this, Sears will not be getting as great of sales due to the fact that consumers can go elsewhere for similar products at less cost. Having competition in relation to styles and prices puts Sears at a great risk.

Image from Google Images.

    Sears needs to reevaluate their company and find a way to change the image they carry. One way Sears could readjust their company is by targeting to a different target audience. Many people in today's society don't have a lot of extra money to spend, and if they do, they're likely going to a higher end store versus Sears. Sears needs to take this into consideration and either adjust their products to go down with cheaper products, or to reach up to these higher end clients. If they decide to reach up, it may be wise to limit the amount of articles they are selling in order to specialize and find a new niche. Another consideration for Sears should be the fact that people who grew up with the company, baby boomers, are also getting older and slowly are passing on. This leaves their target dwindling slowly. If they do not readjust their focus, there target market will be greatly decreased within the next decade.

     Although a company like Walmart sells different products, several people will look at the price aspect and purchase where they can easily afford at the time they are currently there. Sears needs to keep this price point in mind if it plans to become successful again in today's market. Sears is currently fighting against new, up and coming companies, and they need to change their target and strategy to fit this, before it causes them to go under.

Eye Catching Advertisment

    As we near Christmas, there are more and more advertisements coming out for various products. Recently I saw an ad for perfume on TV, and I was enticed to see what the product was about and the qualities that were being portrayed. The ad was created to look very sensual and alluring, in order to attract a women's attention. It showed that by using the product, the woman would feel great about herself and attract the attention of others. While attracting the woman's eye, it would also attract a man's eye for a few reasons. He may be interested in helping his partner feel highly of themselves as the commercial displays. Also, he may like the feeling the commercial portrays, so be interested in the product for the overall feeling that it could bring. With both of these in mind, the commercial was definitely effective. Although the target audience was primarily for a woman, it would also catch a man's eye. By creating this feeling, the producers of the ad have allowed for any potential viewer to be interested in the product.

     Below is an example of how these traits would be demonstrated, similar to that of the TV commercial I saw.

Image from Google Images.

Brands

    Although each day people see hundreds of brand logos, there are always certain brands that stand out more to some people than others. One of my favourite brands is PINK by Victoria Secret. PINK is active wear that is made to look trendy and not like typically active wear. It allows the wearer to look stylish while also being ready for an active day. Typically active wear is meant solely for exercise, but PINK has become a fashion image for everyday wear as well. Below we will discuss the 5 brand elements and how they affect the image that PINK has created.

1. Brand Purpose:
• The purpose of PINK is to give a trendy option for the fitness scene. Rather than traditional workout wear that typically has a more masculine look, PINK allows for active wear that is more feminine and trendy. With this, many people also wear the clothing daily for comfort and style. This allows PINK to create varied products that also focus on daily wear. 
2. Brand Positioning:
• PINK has been able to set themselves apart in the market greatly by being the only line of active wear that has the style that PINK carries. Not only has PINK made a name for their products, but they also have unique products that are made differently than other active wear. This means that if a consumer wants something that looks like PINK's products, they simply have to purchase from PINK. 
3. Brand Promise:
• When shopping at PINK, consumers are ensured that the products will be made of high quality and stand up to fitness of all sorts. The clothing is made for active people, therefore PINK focuses on the strength and stretch of their products. Although there typically is a slightly higher cost, the promise of durable wear tends to be a larger factor to most consumers. 
4. Brand Personality:
•  PINK represents itself as being for the hard working females who enjoy being active while also being trendy. The clothing allows for confidence, strength and happiness. People are able to wear the clothing without restriction in order to live a life on the go.
5. Brand Identity:
• The logo for PINK is simple and fun, being a dog's silhouette. PINK also writes the work PINK out in a unique way, which is also something familiarized with the brand. The brand is seen as cute and fun, which allows consumers to feel good in the clothing. Their also identified by 'LOVE PINK', which in itself encourages consumers to be happy and purchase the product. 

   For these reasons, I would have to choose PINK as my favourite brand.

Image from Google Images. 

The Best Team Member

    Being in a team may be hard, but there are a few simple ways to be the best team member you can.
    The largest and most important factor is being respectful. Everyone has different ideas and strengths, and as a group everyone, should work together to enhance these skills. All other factors can fall under the category of respect, however, they should also be focused on as an individual skill.
    In order to be a good team member, each person should practice good communication. Everyone comes from a different background, so as a team, it is the participants' jobs to make sure that everyone is on the same page and up to date. If someone gets lost, it is the teams' job to bring them back up to speed. With this, being an active group member is also important. Each member should work together and help others in order to get a successful end result. This means that all members cooperate and share ideas. The attendance of all group members is also an important factor that can either help or hinder a team. If there is constantly a missing link, then everything will not get done on time or in the manor needed. In relation to attendance, time management is also a key factor. Each team member relies on those they are grouped with, and in order to be respectful to others, each person should ensure they are carrying their weight in the group. This means having things done on time as discussed by the group, but also doing a fair share of the work given.
    By following these main factors, anyone can be a great team member to those they are paired with.

Image from Google Images.

Market Research

    There are many ways with which a company will go about conducting research. This could include, but is not limited to: online surveys, telemarketing phone calls and social media advertisements (success or lack there of). Although I understand that companies need to gather information in order to succeed, I typically prefer to not partake in this research.
    The main reason I would rather not be a part of the research is 1 simple reason; time. I find that the marketing research always comes at a time that is not particularly the best. Technology allows companies to access their consumers at any time of the day, and this is not always the most satisfactory. Often times, there will be a phone call when you're busy doing other activities, or you get stopped while looking online. These tend to irritate more consumers than those who enjoy it. Instead, there should solely be optional ways for people to partake in research without feeling like they are being pressured. Many stores use this type of research by putting a survey website on receipts and encouraging consumers to go online and give feedback by giving an incentive. This allows the consumer to go on if and when it is good for them.

Image from Google Images.

Decision Making Process

    When looking at purchasing a product, there are a few things that affect my decision making process.
    First, the ease of access and location is something I look at when purchasing a product. I don't want to have to go far out of my way for a product, otherwise it isn't worth my time. While analysing the ease of purchase, I not only look up locations, but I also look up product reviews and information. This is important for me to know whether the product is exactly what I am looking for or not.
    Second, I look at the various options for a similar product. These options could include being more easily accessed in regards to distance, or more reviews with higher ratings. If I find something different that has more positives, than I will look into it further to see if it is a better product for me. I consider things like these in order to make sure I will be making a great purchase. I do not want to waste money to find out something isn't what I thought.
    Once I have looked at these aspects, I can then go forth with purchasing a product. I will have enough background information in order to purchase the best product for me and be happy with the choice.

Image from Google Images.

Sales VS Marketing Orientation

    When looking at marketing, there are two key orientations to look at for deciding how to market your business. The first orientation is the sales orientation. This focuses more on the inside of a business and its' need to sell its' products or services. When looking at the sales orientation, it is assumed that the consumer is slow to purchase and tends to take more time in making a decision. In turn, marketing orientation focuses on the consumer and the outside aspects affecting a business. Here, it is assumed that the consumer makes a buying decision to purchase quicker. Both of these orientations have different approaches which help a company to be successful with their product or service.

    The first approach is a sales approach which is a step by step proposal for a company that focuses on selling. Typically, a firm or salesperson comes up with this approach in hopes of building and growing in wealth. This approach is more concerned with making money than morals or ethics of a society. Marketing approach, however, focuses more on the values and worth of other products that are comparable in order to see where to go next. Once a company can see what they're up against in the market, they are able to decide where to build and where to spend less time.

As found on Google, there are eight key steps that are beneficial in sales. They are as follows:

1. Prospecting
2. Preapproach
3. Approach
4. Need assessment
5. Presentation
6. Meeting objections
7. Gaining commitment
8. Following up

    These steps are key for both sales and marketing approaches, however, the two approaches would have different outcomes and end focuses in each stage. It is important for a company or sales person to decide on the main goal and focus for their firm in order to know where to head in regards to these steps. Each company will have a different motto/goal, therefore each company will have a different way to complete these steps.