Wednesday, April 20, 2011

Marketing Shift from New to Old

In recent year there has been a shift from marketing to a younger population to the senior citizen populations. Recent studies and surveys yielded the same results as to why this maybe taking place within our society. In past years marketers concentrated their efforts on the younger generations. Mainly from ages 25-44. Today we see a shift in marketing from those ages to the age bracket of 55-65. Many ask why this shift occurred? A simple explanation was given  on the site entitled, theentrepreneurpage.com, this was that marketers in past decades believed that the elderly population was viewed as a low-income population. Now in recent year the studies that have been produced that yield different results. In fact  the 55-65 market save twice as much as the 25-44; have double the spending of the younger market ; and if motivated to spend and buy, purchase more investment properties, new cars; travel more often and buy more of a product that come with a better quality. With all the big investments that this population is taking part in correlates with the fact that marketers are more apt to market products in which the elderly are interested in because there is a higher rate of return from this market rather than a younger market.    

Marketers are aware on what aspects to capitalize on with the older generation, these capitalization's may but do not restrict themselves to elderly social activities. This includes relationships with grandchildren and peers connection. It must show the elderly as a companion and not a dependent.   

One may inquire about the idea of all technology being marketed towards the younger generation. This is a common misconception as well, the belief that older people are set in their ways has become a misguided belief. The elderly segment group can be motivated to buy new products, services and even technologies.Those over the age of 55 are par taking in technology and paper resources, thus not limiting the market to the younger generations. 

Do you feel as though older generations harnesses an untapped market? 

Monday, April 11, 2011

Bottled Water! For Better or for Worrse?

Bottled water has in the past few years, become a necessity to everyday life to some people. Families that buy bottles upon bottles to put in their homes or college students that are convinced that the tap water in the dorms is not safe enough to drink. In some houses and dorms I would have to agree with an alternative form of finding safe water to drink. However, I don't believe buying cases upon cases is the answer.
Manufacturers of bottled water create their own demand for the product by instilling fear within their customers that they are trying to reach.These manufacturers target consumers by creating the worst possible scenarios for consumers. What do i mean by this? Manufacturers embellish the fact that some water but not all has parasites and bad bacteria that is truly not safe to drink. In many house holds the water is completely safe and in general is better for you.   Household tap water is enhanced with many minerals that come naturally from the earth's water table. When water is bottled, those minerals are filtered out, which is why some bottled water does not taste as good as the water that comes out of your faucet at home.
   For those of you that are concerned about the safety of the water, such as the type that comes out of the dorms, alternative water sources can help. By using a filtering system such as a Britta water filter, will decrease that amount of water that you by, and therefore keeping money in your pocket and  out of the manufacturers.
    When consuming bottled water one must consider where the product came from and where it is going once you are finished with it. In many cases bottled water is transported by tractor trailer trucks all across the country. That means that gallons upon gallons of gas is used to transport this product to stores that are convenient for you. 
   Where do the bottles go? Once you have finished consuming the product. The most reasonable place to put it is in the garbage can or recycling bin. Where after they are again transported to a landfill or recycling plant. This seems like a lot of gas and trouble to go through just to get the same if not better result from you tap water.
How many bottles of water do you drink in one day? A week? Month?
The Sory of the Water Bottle

Monday, April 4, 2011

Conditioning Consumers for Brand Name

Could there be such an idea of conditioning consumers to buy brand name products? A study that the Los Angel es times  reported finds that in many ways a plethora of different companies and industries use sophisticated marketing campaigns to condition consumers to ask for the brand names. This is prevalent in the prescription drug industry. Many companies ensure that brand name items are more appealing to consumers by giving them the comfort of brand name. However, once we as consumers are able to get past the name of a product, we could be saving hundreds of dollars a year.For example, users of Lipator, which costs about $112 a month,(30 pills) could get the same treatment from lovastatin for roughly $4 a month. Lipator is a commonly used prescription among patients that have high cholesterol. It works by lowering bad cholesterol and increasing good cholesterol absorption within the body. The name for this class of medications is atorvastatin and all of them work the same way by lowering bad cholesterol. The name brand manufacturer Pfizer owns both the patents to these medications, therefore they manufacture the same product just at different prices.

This aspect is baffling to me, we as consumers are hooked on brand names that we are scared to cross over to the field of generics. I must recognize that many individuals make the argument that generics do not work as well or they have reactions to certain generics. This aspect seems full valid in context however, I struggle with the fact that those who say, " generic medication does not work the same as name brand ."  could have a mind over matter approach. The last fact that those that are allergic to generic medications i find that to be valid as well however, one could make the same statement about a name brand product. In the end it depends what dye sets the manufacturer uses and the way the prescription breaks down once it has entered the blood stream.

How much are you willing to spend to be comforted by name brand?

Saturday, April 2, 2011

In response to Abby's blog (The overspent American)

"What are your views on consumers "over spending"


I feel as though my views are mixed in regards to Americans' "overspending. While reading Abby's blog and watching a portion of the film in class i feel as though many aspects can be justified as to why, we as Americans spend so much money on things that we will later for get about and become obsolete in our lives within a few months. The film offered a few explanations as to why we as a society do this, however it seemed as though the film was based on the theory of buyers remorse. This to me does not justify the aspect of spending. In my opinion I feel as though we are all raised in a capitalist society, that was once derived from, "The American Dream". People worked for what they had and climbed their way up the socioeconomic latter withing life. The film touched upon this for a few moments and then connected this justification back to buyers remorse. Which i don't full agree with.
I believe that these aspects are two separate entities. By living and growing in capitalist society, it was the way that we were brought up. I like how the film brought up the fact of emulating those that have what we want and i find that to be a valid point and which is why we as Americans growing up in this type of society would see that strong correlation between the two aspects of life without realizing it.
I must say however that I am not giving the"green light" to spending more money or consuming more product. I am only trying to provide an alternative justification to  why we spend more money than we may actually have to live outside of our means.

Tuesday, March 29, 2011

Coupons, Coupons, Coupons!

I know that this may sound like a broad topic to some; and in many ways it can be. However in recent years many more people have been using coupons. This can be caused by our recent economic downturn, while many families have to cut cost anyway that they can. Although I must pause to consider how many people use coupons based on what they need. For example, your house has just run out of paper towels, you remember skimming through the Sundays' news and seeing a coupon. You proceed to cut it out and use it in your purchase.For some this is the case. However, it is not the case for all, many people will use coupons just because they have them and think that it is a good deal. In this case you are wasting money. When using a coupon just to use it, means that you are purchasing a product that you didn't necessarily need until you had the coupon.  
Do you think that marketers know this? The obvious answer, of course they do! They use it in many ways as a marketing technique to promote new products that have just hit the market to gain a following.
For those that use only four to five coupons a week for things that they actually need they can save up to
$100 dollars a year.
While listening to the radio I found that many people cover this same topic, those as common as John Tesh.
"In a Washington University study, shoppers spent an extra $8 on impulse buys and luxury items for every dollar’s worth of coupons they used.The researchers think this happens because we like to reward ourselves for being thrifty. It also means that saving two dollars with a double-coupon on laundry detergent might get you to splurge on $16 worth of candy and hand-cream. The fix? Shop from a list and only use coupons for items you were going to buy anyway." How often do you use coupons for things that you actually need?
There are many more stories that pertian to this; I encourage you to check it out
http://www.tesh.com/ittrium/visit/A1x97x1y1xa5x1x76y1x2431x1x9by1x2436x1y5x1fc29x5x1

Thursday, March 24, 2011

In response to Jordan's blog;" Americans Happiest careers are not about the money"

  I would have to agree with Jordan and the article that was chosen to illustrate the point.
  I believe that many Americans do care how much they bring home each week. However, it has been cited in many sources that workers are willing to take a pay cut in order to become more content with the work that he/ she is doing.
  In many respects I feel that it depends primarily on the person. If money is what makes a person happy then, he/she would probably be more content with this situation. However if social contact and control over their daily tasks makes the individual more happy then i would assume by the recent studies, that the individual would be more inclined to take a pay cut and receive those benefits.

Green Marketing; Whats Green and Whats not?

   In the past few years many companies have decided to "go green". To many consumers this seems like a great option for the store in which they are shopping. However, how many of these companies are actually contributing to the true, "going green" statement. Is, "going green" just a way for companies to make more money off of making people feel good about purchasing their products because they feel as though they are contributing to the movement? Or are these companies actually making an effort?

   In a report that the USA Today posted, it said that not only are many companies going green to help the environment but they are also going green to save money for themselves as well. Companies such as, SunPower, Sierra Nevada Brewing, Patagonia, Ikea, Nike, Hewlett-Packard, UPS, Yahoo and others are using green practices in their work sites, in product development and packaging, in energy-saving data centers and other technology.

  This means that many of the companies save money on heating and cooling systems as well as transportation of employees. By allowing telecommunication conferencing, employees do not have to waste money as well as gas; flying internationally and nationally to conference to colleagues and co- workers.

   In the end I am sure that many companies are using this "going green" idea as a cover to make extra money but it is interesting to see how companies and consumers alike can feel better about their efforts for a greener environment.

How many companies do you think are actually "going green"?

Monday, March 21, 2011

Why is Camp-co Successful?

For those of you that are not familiar with this convenience store it is located in Keene, NH on Winchester street. This store sells everything from drinks to specialty tobacco. Which is not out of the ordinary for such an establishment.As i was passing by this convenience store on my way to class i started to wonder how much marketing was done to make this establishment so successful. After belaboring the idea in my head the best conclusion that I came to was, the owner had to do next to nothing to market this business due to the location.
The location for such an establishment is perfect, because it is set no more than 100 feet from two dorm buildings one of which being a freshmen dorm. I believe that this allows the business to market itself, just by the location alone. Throughout the years this store has been a common landmark that most any college student can refer to.
Which brings me to my next point and that is the power of word of mouth. Word of mouth in my opinion is by far the  best form of advertising and marketing for a business. That is if all goes "according to plan". I say this, because you can't force your customers to speak highly of your business, it happens on its own within outside conversations of individuals. I feel as though this is what happened to Camp-co. Seeing as how it is based feet for campus and at least three dorm buildings, it allows college students the convenience of referring to it as a landmark, using it for an establishment to find a quick fix of chocolate or ice cream when all other establishments are too far away, or closed at that time. Thus, allowing for the power of word of mouth to spread. This is a perpetual form or advertising and each year since it is based steps away from a freshmen dorm, they have a new student body to tap into.
I feel as though Camp-co would not be nearly successful as it is today if they were to be in a different location. It would be just another store based on a long common street that is used for commuters.

Do you feel as though the location makes Camp-co or is it something else?

Monday, March 7, 2011

Grocery Store Advertising

    
Grocery store advertising has always fascinated me, in many ways the store in which people are shopping in targets young children as well as mothers, fathers and the elderly. It’s really hard to say how each of these different stores that all of us enter at one point or another targets such a vast market of people.

   The one scheme that truly intrigues me is how stores place their items that are appealing to children, on the lower shelves; which are at eye level with the child. As the younger ones are passing by with their mothers they see everything that they want. That may be horrible for their growing bodies but none the less are fascinated with the colorful boxes and animals that surround them. I wonder how many of those mothers actually let their children have what they point to or grab in the stores. Do mothers just give in for the sake of getting out of the store faster. This really is a tangled web or ingenuity on the grocery stores part. Although the intentions of the store are not necessarily concerned with children’s good health as they are making that extra dollar. But one must pause to consider how effective this is for the stores?

   Second, Stores always put candy at the front of the stores at the checkout counters. Yet another advertising scheme to get an extra dollar out of the pockets of those that shop there. This truly makes me question how much revenue the store makes in excess on those that go in for a simple jug of milk or loaf of bread?

   If we all took the time to question how often we go in to the store with a set list of items and actually stick to it, without grabbing that extra, "special buy", i think we would find that we buy a lot more than we actually need.

How often do you go into a supermarket and buy exactly what you need?

Friday, February 11, 2011

Taco Bell Buys The Liberty Bell?

According to msn.com in 1996 a national hoaxes made headlines when Taco Bell annoced that it was going to buy one of America's famous pieces; which we recognize as the Liberty Bell. This clever scheme did not take long to gain attention, as soon as news anchors and national news papers covered the story. Taco Bell claimed,' that the company was buying the infamous bell to help with the national debt." To me I do not beleive that any fast food chain has the capitol to pay for such a piece of history. However, when headlines hit papers on April 1st, 1996 people believed everything they read.
In a matter of hours, editors were slammed with incoming complaints about this purchased which caused a huge stir among the people of this country.
The very next story that the papers and news anchors covered regarded the sale of the Liberty Bell as a hoaxes only to bring attention to the business. Which seemed to work, in one week Taco Bell's sales sky rocketed to over a half of a million. Seeing as how it was April Fools day not only did publicity and sales turn positive for the company, it has now made history as one of the best hoaxes ever played on this country.
I have a few concerns regarding this matter. One, I question our country and our ability to spread news. I believe that it is a very efficent form of communication and allows barriers for advertizing to be broke and is easily accessable to many people. However, this has made many of our citizens dependent on papers and national news stories. Many of us, I believe allow themselves to believe much of what they read without ever questioning the truth or common ground in the matter.
Second, how does this form of advertizing affect a company? In this cases it was a huge pay off for Taco Bell. Dispite this fact, not all advertizing is good; some advertizments damage companies and turn off peoples relationship whith that organization.
I ask you, how many times do you question a news story when it is published in national papers or viewed on TV? Do you put your faith into the integrity of others?

Wednesday, February 9, 2011

When Does Advertizing go too Far?

There are many space, places and ways companies are able to advertise. The space that has made breaking news within the last decade is the forehead? I was dumbfounded when I recently read about this new phenomenon that companies pay standard people to, tattoo brands, logos and websites to their workers foreheads'. Yes, tattoo. 
Recently a women sold her forehead on eBay as advertising space to Goldenpalace.com for ten thousand dollars. This women you will be surprised to know, is not the only one who has made money of this marketing scheme.
There were a few questions that entered into my mind as I read through the numerous articles about forehead advertising; first, why have companies resorted to using this technique? The only valid answer that I could find is, that as a society we have become encased in a world that is run by computers, moving advertisements and technology that it now takes more to catch a customers eye.
I must pose yet another question, for those that sell their foreheads for advertising space; I wonder if any of those individuals actually considered their future after the money that they earned dwindles away? In my opinion as a business inclined person, I question the affects of applying and interviewing for professional positions or even the day to day judgments of professionals that they may be surrounded by. This application of ink to a very public place on the body does not have to apply to business either it could apply in your personal as well whether it be going on a first date or getting married to whom you love. Does qone want and advertisement plastered to their forehead it the middle of a wedding picture?
So I ask you, how far would you go to advertise?

Monday, February 7, 2011

Mixed Marketing

The mixed marketing strategy is an integral part of any product, whether it is a new shoe by, Nike or a person such as myself. One must ask themselves as the are entering into the business world how they can market themselves involving this strategy to obtain a job?
The first step that one must take into consideration is the product, for more simplex purposes that person will be me. The quality of this product is of the most high quality worker that an employer can come across. I am able to learn new skills with ease, I have an efficient work ethic as well as great people skills. This is a one of a kind product.
Second is place, geographically the answer to this question would be Keene, NH as well as its surrounding areas. However, I  am able to switch tasks with ease as well as employee positions with ease. My place within the working world is diverse and is interchangeable.
Third, promotion; in many respects advertising and sales. For this aspect of my product it would be based on word of mouth.
Fourth and lastly is price, I would be willing to work for a livable salary with benefits, however the money that I bring into the corporation will in many ways outweigh my paycheck. I am willing to work long hours and put my all as a product into any position.
What are you willing to do?

Monday, January 24, 2011

The Difference Between Marketing, Advertising and Propaganda

Marketing as defined by, Pride and Ferrell is the process of creating, distributing, promoting and pricing goods as well as services to facilitate exchanges with customers and to maintain favorable relationship with those customers as well as stockholders. A small example of this would be the cell phone industry. To maintain a simplex form of marketing only two companies will be taken into account; Verizon and AT&T. Each company markets the same service and advertises in the same fashion.
Advertising however, is a new aspect of marketing as a whole. Advertising as defined by Pride and Ferrell is, "a paid nonpersonal communication about an organization and its products transmitted to a target audience". The ways in which Verizon and AT&T transmit their products to us (the target audience) is through radio, sponsors and television ads; which many of us as may recognize as the "map war". The easiest term to use for this subject is propaganda.
Propaganda is information, ideas or rumors that are deliberately spread to help or harm a group, company or movement. Many individuals may have experiences this by watching the commercials that advertise Verizon and AT&T plans. Each stating that they have more coverage than the other as well as embellishing the others faults that may mislead customers in many ways.
The differences between these three marketing principles are not merely definition but ways in which companies promote and sell their ideas and products to customers.

http://www.youtube.com/watch?v=VZPjJI0K7Bk

http://www.youtube.com/watch?v=igdyXceBZLA&feature=related