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Angelo Csuti

Retail Economics 101 : Lessons and Strategies of a Recession - 3 views

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    Interesting guide for retailers during economic downturns. Written in 2008 but still applicabel. If you are too lazy to read 6 pages, read at least the tips for retailers on p.6 ;-)
John Cummings

Pricing Strategy: Four Pricing Methods - 2 views

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    Not Necessarily for my presentation.  But this article is a good review of economics and how that effects pricing.
Kara Blakley

How to Beat Your Competition by Innovating in Ways They Can't Copy - Forbes - 13 views

    • Kara Blakley
       
      Each company uses different jargon, and I found it interesting they hire "artists." Some business people can have artistic and creative sides to them in order to manage stores. Do you agree?
    • Kara Blakley
       
      Have you ever noticed unusal pieces in Urban Outfitters that you haven't seen in other UO stores? This creative freedom is an intersting aspect to UO's strategy!
    • Kara Blakley
       
      Do you like having continuity when you go into a store or are you intrigued by the differences Urban Outfitters showcases?
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    • Kara Blakley
       
      I believe Steve Jobs did just this - we couldn't begin to imagine what we wanted in technological products that he was instrumental in creating. But he had the vision and made it a reality - and what would we do without all our amazing Apple gadgets?
    • Kara Blakley
       
      I don't agree with this statement - why do they need to replace all their managers? Why can't we just begin to think in a different way in order to evolve for the better?
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    Exciting to know that college students began the company and have stuck to their values ever since. It is interesting to hear that they prefer art students over business students (us). Makes me think that we should become more well-rounded so that we are not stereotyped as only "analytical" which the article mentions at least twice. We can be creative too!
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    I thought this was a really interesting read and like how they emphasize catering all aspects of their store to their target market. While I can't say I have made many purchases at Urban Outfitters, I feel like it is also a destination store. The atmosphere is inviting and draws people in because it is so different. That alone helps create a buzz and draw others in. There is an Urban Outfitters at the Keystone Fashion Mall which got me thinking to some of the other stores there. I feel like there are many store there that share this fun, atmospheric experience which really adds value. The atmosphere can really help or hinder a consumer's experience and I feel like that the Keystone Fashion Mall has done a great job of creating a unique experience for all of its visitors - Urban Outfitters being included as a part of it.
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    This is an article relevant to us - college students! We have only had a few classes and already Urban Outfitters has come up as a retailer that has drawn our attention. The article gives a great example of how Urban Outfitters is trying to attract their target market to their stores, not just through their merchandise but by keeping us there longer with a unique layout. Lina gave a great point how today we all need to be well-rounded in many different areas which can bring value to a company. And Krista, I agree with you about the Keystone Mall - the layout of the stores and lots of open space keep shoppers happy and in the mall longer. This is an aspect many other shopping centers could/should pick up on...how the "atmosphere" and store selection makes us feel.
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    Similar to what Lina mentioned in her post, using artists to influence the layout of a store is a very interesting approach. There may be some advantage to that, although we may not think we are analytic, being business students, at Butler we are very well versed in all the disciplines of business. This makes us think not only about our vision for something, but also the outcomes of it financially and economically. So maybe Urban Outfitters is onto something with their thoughts moving from being focused on the business perspective to the artistic perspective. If they can incorporate new pieces into their displays that they find on their drive into work without consulting others, that is an awesome way to keep your store forever changing and to continue its appeal. I am very interested to see how many stores will begin to follow in their footsteps, and incorporate more artists into their decision making.
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    Thank you for this article Kara! Urban Outfitters is one of my favorite places to shop and I had no idea that it was started and run by college students--I think this is one of the great ways that they are attracting their target market. This was my favorite sentence from the article, "If a manager sees an old wooden crate on his way to work and thinks it would look good in the men's section, he can bring it to work and put it on display." This is wonderful, just wonderful! Going back to what a lot of you have already mentioned, their unique layout and atmosphere is what brings people in and creates that overall "experience" for the customers.
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    Great article Kara! I agree with Lina and find it very interesting that they prefer to hire art students versus business students. Although I am not a very artist person this article makes me wonder if students should take more classes in the arts along with our core curriculum. I have never actually entered or bought anything from urban outfitters so I cant say I truly understand what the stores look like from a layout stand point, but it is very interesting that employees are allowed a sense of freedom when it comes to creating an ascetically pleasing store. I think it will be interesting to see if more businesses learn toward hiring more artistic individual.
meganbos

McDonald's Wins Over French Chef With McBaguette Sandwich - Bloomberg - 7 views

    • meganbos
       
      McDonald's has really altered there menu, like the have in other countries like Spain to really fit the local tastes. France is a great example of changing the bread and the toppings in order to appeal to more French customers- including high ranked chefs. 
    • meganbos
       
      This paragraph really highlights McDonald's motivation and adaptation strategy. They are willing to change the way they do business in order to succeed in more markets internationally. 
    • meganbos
       
      Not only are they appealing to the taste of the country but they are also responding to the economic needs of the country by meeting the French's picky tastes with a low cost option. 
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    • meganbos
       
      Even warming the bread? McDonald's has clearly done there local research and know that warm bread is popular and comparable to local favorites.
    • meganbos
       
      i'm glad they included this bit, but of course the famous baker is not going to like the fast food version of there local favorites and it probably does not compare to some local favorites but it is a good cheap alternative. 
    • Camille Sampson
       
      If using the word baguette is so terrible, would there not be public backlash from this? I would imagine that many citizens would see along the same lines of this baker which may hurt McDonald's image in France. At the same time however, many people in other regions of the world may not have the same "standards" for the word baguette, and thus McDonald's may have better feed back in other cultures that are not so familiar with french traditions.
    • meganbos
       
      McDonald's has been seen as an American option and favorite- but adapting to more consumers wants and needs in the French Market will make the brand more appealing to customers who wouldn't have originally eaten at McDonalds 
    • Camille Sampson
       
      Various flavor options/drink selections may be a safer route to appeal to local markets. By bringing in the tradition of the "baguette" McDonald's runs the risk of offending potential consumers-like the baker for example.
    • meganbos
       
      People learn that there is a lot of consistency with the McDonald's brand and that is attractive to consumers because they know that they can expect the same experience every time. 
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    Really interesting article about how our favorite fast food restaurant really responds well to the socio-cultural environment and adapts there products and presentation to win over the population- including famous chefs in this case.
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    This fits quite well in McDonald's global strategy as they do things like that in almost every country. In the Netherlnds for example, they sell the McKroket (http://www.mcdonalds.nl/sites/default/files/produits/477x355_0005_mckroket.png) and in Germany something like a "Bratwurst Burger" (Sausage Burger) ( http://www.burgerbusiness.com/wp-content/uploads/McD_Germany_Nurnburger.jpg ). Trying to adapt to local tastes might also have a downside, though, as people from that country might be disappointed by the McDonald's copy of a dish they are very proud of (e.g. it worked well in the Netherlands but didn't in Germany).
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    I think this article is really interesting because consumers do see McDonald's trying to expand into certain niches with their stores. Most McDonald's around the world have the same products, but the stores in Spain for example featured the McIberica which is similar to the McBaguette, but with a Spanish twist. I think that it is really interesting how the McBaguette is seriously taking off and am wondering if it will be featured at McDonald's in the US
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    I found this article especially interesting because I studied abroad in France last semester and I have actually tried this sandwich. I can attest to the fact that French people eat baguettes daily and you can literally see people walking down the street gnawing on a huge baguette so I can see how the McDonald's Baguette sandwich would be insulting to local bakeries. On the other hand I can see what Koffmann is saying when he says that the McDonald's sandwich seems fresher just because at local bakeries they make a bunch of sandwiches then set them out on display all day and if you go to get a sandwich later in the afternoon chances are it is not going to be extremely fresh. Which is also strange to think about...McDonald's having fresh food. I think this is a great move for McDonald's because it gives them a chance to delve into other cultures.
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    McDonald's innovation has always been astonishing not only to myself, but to the industry as a whole. It's quite interesting to take notice of its place as the clear industry leader, as other companies in its genre seemingly put as much effort into adapting to the market McDonalds has shaped to keep up with the titan as they have into development of innovative product campaigns to differentiate themselves. The introduction of the McBaguette is a clear example of this dynamic company's ability to mould themselves to cater to specific demographics in dramatically different cultural groups. Yet it still leads me to ask.. How did McDonalds become such an iconic brand in a way that Burger King, Wendy's and others did not?
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    I've been to a few international McDonalds locations, and I think what McDonalds is introducing with the "local" spin is important for the company. They need to stay fresh and appeal to French palettes. I believe the intriguing part of international McDonalds locations is the spin on our favorite, American items. I'm a shareholder in McDonalds and from a profitability standpoint, it's important to expand the French market if it's the second leader behind the United States. I wish they offered the item here - it looks good! I have an idea Prof. King - Retailing field trip to France! We need to try this!
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    McDonald's always seems to amaze me, I think it is very important to realize that any business that enters a global market needs to cater to that cultures needs and wants and McDonald's had done just that. I have been to a couple international McDonald's locations in the UK and Spain. What really stood out to me was the menu in Spain -- they offered beer and more chicken options! Although the McBaguette isn't a traditional baguette it seems that McDonald's as always caters to what the customers want.
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    What stood out in my head was the woman who was offended by the breading. Rather than taking this new food item as an insult, I think that the she should realize the efforts McDonald's makes to accommodate peoples' needs. Yes, it is not the same as homemade or some bakeries, but it is up to the French people to know the difference. McDonald's is only trying to create a low priced food that appeals to people considering the hard times that they have had.
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    Fantastic article. One important thing to remember for their new campaign however, is to remember the relevance of those commenting on their products. It's awesome that they were able to have the acceptance of a world-famous baker, but it would be even more influential if they could analyze cultural trends within France to see who really has an impact on the people. Is it this world known baker? Or, the friendly baker down the street. If they could grab a combination of positive expressions about their baguettes and other products, McDonald's could produce a positive message that would be received throughout various demographics of their target markets.
Angelo Csuti

Apple's Seductive Brand Promise: Cultural Capital and Social Mobility - 8 views

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    Despite the recent scandals regarding Apple's business practices, it has succeeded at cultivating a brand to which we feel positive emotional attachment. How does apple make a difference?
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    Apple makes a difference because they have made us brand advocates. However, after learning about the scandals going on - I double take. Can the brand we love do such terrible things? Makes me rethink the integrity of the company. The brand does seduce you but on the other hand I think that Apple is facing some merchandising management problems. There used to be buzz about new releases, but I heard a rumor that another phone will be released shortly? In my opinion they are loosing their merchandising management touch by releasing so many products consecutively. Apple is starting to lose its "make a difference" feel. How can Apple make a difference when there isn't even a difference in their products anymore.
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    I agree with Lina, Apple has gained a large following of loyal consumers, but there continue to be releases of their "new" iPhones and what not, but there is relatively few differences between the products. I was unaware of the scandals that Apple is a part of, and it makes me wonder if more people become knowledgeable about the situation will that reduce their customer loyalty and deter people from joining the Apple craze.
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    I am not an Apple follower and to be honest don't see the point of the prestige they place on their products. One thing that stood out to me in this article were some of the ways they marketed their products. One was touched on Apple products can make you better, later it adjusted this by saying it gives you the tools to be the best you, but it still rubbed me the wrong way. the other way was with the Ghandi ad made reference to "daring to be different". In today's terms buying Apple products is hardly being different but even when the ad came out in 97 Apple products did not offer customization, which what I associate with being different. It offered Personal Computers with a different OS. I may be biased against them but it just seemed like odd ways to promote their products and didn't sell me on any of their products.
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    WOW, what an amazing article! I think this is a great example of a great product that does great things for its consumers. I especially appreciate the time line of Apple's ads and their competition throughout. I think it is interesting to mention how their product differentiation is slight for specific products, but that is what keeps the customers who are loyal even more loyal.
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