Class Ten:
I loved the concept of the fitting puzzle pieces with one saying; market need and the other saying; new product. It's as easy as that. There has to be a market need for your product or your product has to be something that convinces people that they need it.
Youtube videos are a big part of today's marketing strategy and watching the clip for the Samsung Galaxy was legit. I couldn't believe when I found out that it had only been up for one week and had already received 4 million views. That is INCREDIBLE marketing!!!!!
Talking about why WalMart doesn't manufacture products but is better at moving/purchasing inventory made me think about comparative advantage. You should do what you are better at and excel in that area of expertise.
Going over agents and brokers helped clarify things for me a lot! With the example that real estate agents don't have to buy the house to sell it, I now understand the different intermediaries and the legal difference with obtaining titles.
Thursday, March 21, 2013
SPRING BREAK:
So, I don't really feel like I got much of a spring break. I had about five papers to write with research to do, other homework assignments and I worked. I did manage to get out on a hike with some friends to enjoy the beautiful weather we had. I was okay with my working spring break though because I'm headed to San Francisco in a couple of weeks!!! I'm so excited to explore this great city! Luckily it's the week that we don't have MGT class because of Entrepreneurship Week so it works out great!
So, I don't really feel like I got much of a spring break. I had about five papers to write with research to do, other homework assignments and I worked. I did manage to get out on a hike with some friends to enjoy the beautiful weather we had. I was okay with my working spring break though because I'm headed to San Francisco in a couple of weeks!!! I'm so excited to explore this great city! Luckily it's the week that we don't have MGT class because of Entrepreneurship Week so it works out great!
Class Nine:
Learning about the Product Life Cycle (Introductory, Growth, Maturity, Decline) was a good refresher. I think it's important to understand this cycle both as a consumer and working with marketing because the product is what you are either purchasing or selling.
Learning the four out of five new products fail was a slight shock to me. I understood that it was hard to have products succeed but I didn't think that many would fail. From this, I learned that being in business you have to understand that you will probably fail at times. It's important to keep trying to make sure that you also get that success as well.
Learning about the Product Life Cycle (Introductory, Growth, Maturity, Decline) was a good refresher. I think it's important to understand this cycle both as a consumer and working with marketing because the product is what you are either purchasing or selling.
Learning the four out of five new products fail was a slight shock to me. I understood that it was hard to have products succeed but I didn't think that many would fail. From this, I learned that being in business you have to understand that you will probably fail at times. It's important to keep trying to make sure that you also get that success as well.
Class Eight:
We didn't have class this week because we took our midterm. I am grateful that we could use our notes etc because without them I know I wouldn't have done as well. I still had to understand concepts to know where to look for the answers. Which I believe in this situation that understanding concepts is huge!
We didn't have class this week because we took our midterm. I am grateful that we could use our notes etc because without them I know I wouldn't have done as well. I still had to understand concepts to know where to look for the answers. Which I believe in this situation that understanding concepts is huge!
Class Seven:
I know that learning the difference between brand name (numbers, letters), brand mark (image), brand equity (value of company), and global brand (at least 20% is sold abroad) will be beneficial throughout my life. You see logos everywhere and being able to differientiate and call them the appropriate names is something I know I will use in my life.
I know that learning the difference between brand name (numbers, letters), brand mark (image), brand equity (value of company), and global brand (at least 20% is sold abroad) will be beneficial throughout my life. You see logos everywhere and being able to differientiate and call them the appropriate names is something I know I will use in my life.
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