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Kate King

JC Penney -- Are You Listening? - Forbes - 15 views

www.forbes.com/...jc-penney-are-you-listening

mk473 strategy JCP

shared by Kate King on 03 Sep 13 - No Cached
  • I had the opportunity to hear Jim Collins, author of the business best-seller Good to Great, speak at a conference two weeks ago.  He talked about the fact that truly great companies find, “the right 20% to change.”  Companies need to change, they just can’t change too much all at once, and they need to change the right things.
  • alipaigeh on 05 Sep 13
     
    I think this article is a great example of how important it is for companies to be continually evolving and strengthening their brands. I currently work for Kairos Zero, which is an online marketing consulting company, and their main objective in helping their clients is specifically defining the target market. Once the target market is clearly defined for any company, they can use analytics to better analyze their main customers, how they behave, and what they are looking to experience with your product or service. In the case of this article, JC Penny was unable to evolve and develop new strategies for existing or new customers because their target market was not clearly defined, and JC Jenny's overall focus was not based on what the customer truly wanted. This directly affected their bottom line over the course of two years. Unfortunate for JC Penny, but demonstrates how important it is to cater to the customer and provide that "experience" that they are looking for.
  • ...5 more comments...
  • Kara Blakley on 05 Sep 13
     
    I agree with Petro's thoughts that JCPenney needs to listen to the customers. Apple is a different "breed" in a way because we as consumers don't know what we want in technology until we see it - I would have never been able to think I wanted a device such as the iPod or iPad until it was introduced. Now, I can't envision my life without them! JCPenney's "suburban house-wife consumers" need practical and versatile items. JCPenney's St. John's Bay brand was a $1 billion brand and they need to capitalize on their strengths - not completely take it out. They need to insert new and exciting items such as Joe Fresh but keep the elements that make their company successful...and carefully change "the right 20%." Have you all shopped the new brands at JCPenney and/or did you like the older/familiar brands we know and associate with the company?
  • Sarah Jacobsma on 05 Sep 13
     
    I agree with Kara, JCPenny does need to listen to what the customers want -- not what they think the customers want. There was a great point made in the article that they had gotten rid of St.Johns Bay apparel line, which is a line some of their customers were loyal and kept coming back to JCP. This article is a great example as Prof King said "the right 20% change." Unfortunately, in recent years JCP has seemed to change the wrong 20% rather than the right 20% which is why they were doing so poorly. I do not think that Ron Johnson took into account that JCP is a completely different industry over Apple. I think when changing a brand a lot of factors come in to play and as stated in the article to target toward current customers and/or new ones is a decision the company has to make.
  • Camille Sampson on 05 Sep 13
     
    Well put ladies. As Kara mentioned, Apple is a one of a kind company... for now at least. Until specialized firms like Apple can successfully replicate the ability to predict market demand, it is unnecessary to take such risks, as JCPenny did with the removal of core brands, to boost sales. Although it is encouraged for firms to think outside the box in todays modern world, in order to grasp the attention of consumers along side multiple other stimulants, it is essential that firms do so in a cautious manner. This is a perfect example of the importance of "the right 20% change". Although it is unfortunate that JCPenny had to endure this experience, it has developed a significant message/ take away for the rest of the industry to learn from. It will take a lot for JCP to revitalize its image with lost customers, but I feel their history of strong customer service and attractive product lines will encourage benefit of the doubt in consumers minds. It is great that they are trying to reach new consumer markets, but JCP must not forget about those who got them to where they are today. They need to nourish previous relationships, while continuing to cultivate seeds within the upcoming consumers(younger families, young adults) to stretch their loyalty to JCP into the future.
  • Sarah Wesp on 05 Sep 13
     
    I think all four of you nailed it! The last sentence of that article states "this will involve a lot of listening," and that is exactly what JCP needs to do. They need to listen to their most important voice, the consumer -- what do they want, not "what JCP thinks the consumer should want." Overall, as we have learned, you must start with the customer and build from there--this is what JCP needs to do to start moving in the right direction.
  • Lindsey Wacnik on 05 Sep 13
     
    This was an interesting article that clearly showed that marketing plans are not one size fits all. What works for one company may not work for another, and JCP is an excellent example of a company that needed to do more research on their customers before implementing a plan. I was very surprised how little they did to look into what the customers were looking for. The troubles JCP is now experience is a warning to other companies to take a closer look at the consumer when creating new marketing strategies.
  • Paige Laughlin on 05 Sep 13
     
    As everyone has stated, JC Penney is in hot water because they have lost sight of what the main focus should be: the customer. Without focusing on the customer, how do they expect to keep them coming back? The main aspect of customer loyalty is keeping customers satisfied in order to make them want to be a continuous customer. Because JC Penney is making decisions based on what they think customers want without doing any market research to back up these decisions, it is apparent that their customer loyalty, which in turn, affects their sales is dwindling rapidly. One aspect of the article that I could relate to was when the author talked about using test brands to see customer's responses to the brand. While working at my part time job at Express clothing, we would always be sent one or two items that we didn't have and would use them as "test items" to see if customers would be interested in buying the item. If the items were purchased, we let the manufacturer know and they would determine whether they would send us the item to sell. If not, we would not sell the items in our store. I think using a test brand is a great idea for JC Penney to try. By using a select few items from different brands, they can see what is successful and what is not and plan accordingly.
  • Emily Prellwitz on 05 Sep 13
     
    When I saw the changes JCPenney made in person, I thought it made their company look a little bit cheaper. While it was nice to see low prices, I still liked the more "department store" feeling with cash registers in every department rather than just in the front of the store. I agree with Kara about how Apple is its own "breed" because Apple is constantly innovating their products to be more user friendly to their customers and they are constantly listening to their customers, not to mention their top of the line customer service. It is also a lot easier to listen to your consumers when you have one specialized product such as Apple with electronics. JCP sells a wider variety of things from clothing, to luggage, to home goods, to shoes. With that being said, I believe it is a lot more important for them to listen to your customers because they have a wider variety of target customers.
alipaigeh

Marketers Have it Wrong: Forget Engagement, Customers Want Simplicity - 3 views

www.forbes.com/...ment-consumers-want-simplicity

mk473 consumer behavior decision process decision simplicity

shared by alipaigeh on 20 Sep 13 - No Cached
  • alipaigeh on 20 Sep 13
     
    This article has great content about how marketers can master the consumer decision process. The article was written about a year ago, but the information is still very relevant and provides helpful tips on how to be most effective in this area as a marketer.
  • ...4 more comments...
  • Lina Goens on 23 Sep 13
     
    Making it easier on us will make it easier on the companies. I still wonder how companies can implement this in the retail industries. Turbo tax was a good example but I am curious as to how you can make it easier in retail because retail stores may offer same types of clothing but completely different prices, quality, styles. Can't really think of anything off the top of my head, but may be a good discussion question.
  • Sarah Wesp on 24 Sep 13
     
    Interesting article! As I was reading it, I was thinking to myself about what I would want more, engagement or simplicity--and I do have to agree with them that simplicity would make things easier. In the last paragraph, the author states, "don't you think it's time to stop overwhelming consumers with marketing information and cut through the clutter?" I do think some marketing information is beneficial, but as a consumer, it would be nice to "cut through the clutter" and have things stated or marketed more simply.
  • meganbos on 24 Sep 13
     
    I think simplicity comes into play especially with the way we view advertisements. If a company conveys a message simply and concisely with out me having to really pay attention or sort through more information I think I am more likely to buy it. Also simple images have more of a design appeal and I think our generation is more focused on aesthetics and the way things look and feel- and simplicity plays a large role in that.
  • Lindsey Wacnik on 24 Sep 13
     
    I agree with Lina this is a tactic that would be hard to apply with clothing retailers, but it would be useful for electronic and appliance retailers. I was just on the Best Buy website, and for each product there was a whole page of information about its capabilities and features. They gave the option to compare products which helped to "cut the clutter". This was similar to Turbo Tax; there were options to choose four different products for a side by side comparison that gave a breakdown of the difference for the features and capabilities in just a few words. Best Buy is utilizing this simplistic tactic, and I personally love it!
  • Brock Naylor on 24 Sep 13
     
    I would have to agree with Megan on this point. There is a statistic somewhere that identifies the average amount of time a person spends actually observing an ad, and in that tiny time frame, there is no way you could pull away all the information many ads are trying to convey. This is why there is a great push these days towards image messaging as opposed to textual advertisements
  • Camille Sampson on 26 Sep 13
     
    Although this article is titled, "Forget Engagement, Customers want Simplicity" I think this article provides an excellent response: http://www.forbes.com/sites/rogerdooley/2012/07/03/ikea-effect/ Although it was written a little over a year ago, I think it makes a pressing point. Simplicity is good, but too much of it and you will push the consumer away. There is a fine line between obligating the customer to be overly involved in the decision making process, but we need to remember to leverage their spending power. Consumers feel confident about their purchased because THEY chose to purchase it, not because it was pushed into their faces. Marketers need to remember the value the customer receives from the invested interest in the product. Although simplicity is an efficient and beneficial advantage, it limits personal investment into a product which intern negatively affects the value it holds in the consumers mind.
meganbos

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

www.bloomberg.com/...-with-mcbaguette-sandwich.html

mk473 environment 1 socio-cultural factors

shared by meganbos on 11 Sep 13 - No Cached
    • meganbos
      meganbos on 12 Sep 13
       
      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
      meganbos on 12 Sep 13
       
      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
      meganbos on 12 Sep 13
       
      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. 
  • ...4 more annotations...
    • meganbos
      meganbos on 12 Sep 13
       
      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
      meganbos on 12 Sep 13
       
      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
      Camille Sampson on 12 Sep 13
       
      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
      meganbos on 12 Sep 13
       
      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
      Camille Sampson on 12 Sep 13
       
      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
      meganbos on 12 Sep 13
       
      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. 
  • meganbos on 11 Sep 13
     
    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.
  • ...6 more comments...
  • rteufel on 11 Sep 13
     
    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).
  • alipaigeh on 12 Sep 13
     
    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
  • Emily Prellwitz on 12 Sep 13
     
    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.
  • Brock Naylor on 12 Sep 13
     
    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?
  • Kara Blakley on 12 Sep 13
     
    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!
  • Sarah Jacobsma on 12 Sep 13
     
    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.
  • Lina Goens on 12 Sep 13
     
    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.
  • Camille Sampson on 12 Sep 13
     
    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.
Kate King

Millennials Are On the Rise - Barrons.com - 5 views

online.barrons.com/...3889404578440972842742076.html

mk473 consumer behavior millennials

shared by Kate King on 19 Sep 13 - No Cached
  • make up the largest population cohort the U.S. has ever seen. Eighty-six million strong, it is 7% larger than the baby-boom generation
  • could keep growing to 88.5 million people by 2020, owing to immigration, says
  • 27% of the U.S. population
  • Lina Goens on 23 Sep 13
     
    The description of the millenials are dead on, now I wonder what marketers will do with this information moving forward.
  • ...1 more comment...
  • Sarah Wesp on 23 Sep 13
     
    Wow--I didn't know the millenials were 7% larger than the baby-boomer generation, but I would agree with Lina on this one in that how they described the millenials is pretty spot on. Even going as far as the car companies predicting the types of vehicles we will buy in the future, I do think they are overall pretty accurate in these predictions.
  • Sarah Jacobsma on 24 Sep 13
     
    I actually read this story the other day and really enjoyed it. I was wondering if this would end up on Diigo. Like Sarah said, who knew the millennials were 7% larger than the baby-boomer generation. It is a huge market to target along with a lot of potential - it will be very interesting to see the many different ways marketers target and cater to millennials in the future.
  • Camille Sampson on 24 Sep 13
     
    It'll be interesting to see how accurately this article describes market growth as influenced by the millennials. As an entrepurener, I personal found this article to be helpful as a guide for my next interest; home ownership. It seems like the next few years could provide ample opportunity to capitalize on the growth in the housing market that is soon to come. Although the ,market is lagging right now, this is the time to buy in, when costs are low, then capitalize and lease properties once the population begins to seek homes away from mom and dad. the question is, what other industries will be influenced by this flux in the market? The article mentioned the growth of sales that will be seen in construction stores like Home Depot etc. but what about variables that are dependent of those organizations? Will the price of various resources increase? for example, wood, concrete, marble etc. Also, what will be done demographically to account for this oncoming flux in living styles? Business will need to capitalize on the innovations in living patterns that are going to develop from this flux-mainly locations. Where will these people move from? More importantly, what lifestyles are they moving to?
Kate King

Malls Pitched at Hispanics Taking Off | The Big Tent - Advertising Age - 9 views

adage.com/...241616

mk473 environment 1 ethnicity shopping centers

shared by Kate King on 09 Sep 13 - No Cached
  • Lina Goens on 10 Sep 13
     
    Not only is this a great way to reach a greater target market but also bring to light the culture of hispanics to those who aren't familiar with it. I wonder how many more will be built and if there could be "too much of a good thing", but it seems to be doing well for now. It seems to be implying and mostly Mexican traditions so it would be interesting to go and see what other cultures are incorporated.
  • ...3 more comments...
  • Sarah Jacobsma on 10 Sep 13
     
    I think this is an interesting article and it is great to know in hispanic communities there are stores tailed to their needs but as Lina stated it will be interesting to see what other cultures will be incorporated. I worry that in the future there may be potential issues with there being "too many" of these specialty malls but as for now it is good to know they are working out.
  • Camille Sampson on 10 Sep 13
     
    This is fantastic. A huge opportunity to capitalize on the movement toward a globalized market, this hispanic malls could really be the start of an ingenious idea to spread cultural awareness. If they are able to effectively target highly populated hispanic communities throughout the country however, we are likely to see a rise in the newest "Walmart" corporation that will monopolizing the hispanic retail market. This could be a good and bad thing simultaneously. Along the lines of what Lina said, the market could become exhausted if it is not promoted in the right areas or in the right ways.
  • alipaigeh on 10 Sep 13
     
    I can relate to this article in a few different ways because I spent 5 months living in Spain, surrounded by Hispanic markets, malls, shops, and supermarkets. I think this is a great idea and gives the Hispanic population in these states an opportunity to revisit their roots. They will be able to shop at the Hispanic stores they are accustomed to and also indulge in food that they love at the times of day they are accustomed to doing so.
  • meganbos on 11 Sep 13
     
    I lived in Mexico for an extended period of time when I was in high school and the hispanic culture thrives around the "plaza culture". In Mexico, being together and out of the house is part of their culture- walking at night, dancing, or just hanging out in the plaza is where most of their social life occurs. Cities and towns are build around their plazas. In the United States we do not maintain this aspect, our plaza would be comparable to sitting on our couch watching TV after work- where instead they go out into the community. Altering the setup and store hours encourages and brings the Hispanics back to their roots but also can provide the neighbor hood with some education in diversity and really great foods and products that they may not have been aware of before.
  • Sarah Wesp on 12 Sep 13
     
    Not only is it a great way for the Hispanic population to connect and revisit their roots like others had said, but what a great way for people from different backgrounds/cultures to have the opportunity to shop at a Hispanic market without having to travel out of the country. I think this is wonderful!
Kate King

Retail Stores Are Tracking You Like Crazy ⚙ Co.Labs ⚙ code + community - 8 views

www.fastcolabs.com/...es-are-tracking-you-like-crazy

mk473 environment 2 technology ethics privacy

shared by Kate King on 16 Sep 13 - No Cached
Sarah Wesp liked it
  • Lina Goens on 16 Sep 13
     
    I like it! I want to be recognized, greeted, and assisted if I need to be. I can see where some people may feel uncomfortable but employees should be trained when to know when a person wants more help or to be left alone.
  • ...7 more comments...
  • rteufel on 16 Sep 13
     
    To me this seems like the next logical step. What as worked extremely well in online stores (I have worked for one for 5 years and we made a considerably large ratio of our revenues with cross selling on product pages), might also work in actual retail stores. It will, however, take time until customers get used to being "spied on". In my opinion they WILL get used to it, the same way everyone got used to facial recognition in facebook, data collection by Google, and customer profiling by Amazon.
  • Kyle Werner on 17 Sep 13
     
    What technology can do in this age and how retailers are using it effectively to further enhance their business ventures is simply astonishing! A possible next step to this if not in the development process already is if the consumer has the mobile app on their phone, the app will be able to tell what products the consumer is looking at and offer suggestions regarding the product. This could even be taken one step further, for example, if a customer is looking at lunch meat at the deli, the app could even suggest what types of condiments or kinds of sides for the lunch meat, and help assist the consumer in where to find these products in the stores. I agree with Raphael, consumers will have to get used to this business strategy, and look at the silver lining of how these tactics can be beneficial to themselves.
  • jkayjohn on 17 Sep 13
     
    I think the biggest problem with this sort of tracking is many people feel entitled to a sense of privacy. Even though in our day in age this sense of privacy does not truly exist. We are tracked by what we do and what sites we visit online everyday so it makes sense that retail stores deserve the same chance, but people I believe will feel even more violated by this sort of tracking in the physical sense if they are not being told about it. I think the best way for retail stores to go about doing this is by actually making the public aware and playing on the benefits of being able to track their customers and give them the best assistance possible. They need to have a market strategy in place that can do all of that.
  • Carly Foley on 17 Sep 13
     
    I don't know whether to be impressed or creeped out. I feel like I would want to turn my phone off any time I would go to the mall because I don't want to be bothered when I'm shopping or anything. I like to go in and get out. I am not big into shopping so I make it as fast as possible, and the fact of someone knowing what stores I am at or what I am looking at is a little weird for me. I like my privacy.
  • John Cummings on 17 Sep 13
     
    I agree with Lina this can upset some people. They may think their privacy has been invaded. But any business person would understand that this is just another marketing ploy.
  • Kara Blakley on 17 Sep 13
     
    This article is really showcasing specifically how almost no aspect of our lives is private anymore. I did a research report a few years ago on the Psychology of Food/Supermarkets and the technology that are utilizing to get our business. The "tracking" in the stores has been utilized by a few companies that send mobile coupons to your phone when you pass by certain items in the store. Not only that, but the technology keeps a record of your purchases and alerts you when you are around those items again. I even read a story of a father finding out his daughter was pregnant when she received Target baby advertisements/coupons in the mail from the child care department. Based on her previous purchases, Target's customer technology knew she was probably having a baby before her own parents did (or before she decided to tell them). From a business standpoint, I understand trying to utilize any technology means possible to get purchases, but the line is fuzzy between being helpful and being intrusive. Finding a balance between the two is something companies need to figure out!
  • Sarah Jacobsma on 17 Sep 13
     
    I agree with Lina and John. I think it is very impressive that companies can use phone tracking to help out customers. In reality how much privacy do we have these days anyways? From a retailer stand point this technology can be very helpful but from a customer standpoint it can be a little creepy. What technology can do amazes me and it will be interesting to see how it effects the way retailers and consumers interact.
  • Emily Prellwitz on 19 Sep 13
     
    I find this kind of stuff extremely interesting. I honestly like that stores can track me like this because this means that they are more likely to send coupons and deals my way for the things I want to buy. I also think this is a great way for stores to get the perfect layout of their store by seeing where certain demographics walk around.
  • Camille Sampson on 19 Sep 13
     
    This is significant because it has implications beyond just marketing to consumers. The question is, how far should we trespass into citizens (aka customers) rights in order to improve the customers experience? This isnt JUST another marketing ploy, it's an experiment in eroding consumer privacy... and it's working. Marketers realize how little consumers are informed of their own behavior and by association they realize lengths to which they can go. But as privacy erodes, what do we really gain? Sure, it's great they can send us coupons and build our customer profile, but did companies consult the consumer and get consent to do this? Is this data collection all passively done because companies know the taboo behind privacy issues? What does this type of intrusion open up in the future? I think this is seen as simply "the way things are" because we are all desensitized to businesses (and governments) violating the privacy of information. I would like to point out that historically when masses of people in power simply accept things the way they are that's when really really bad things happen (slavery, child labor, exploitation, etc). Passive accumulation of this information seems to me complicit with those who actively accumulate this information- they're both invasions. We must critically think about how allowing such invasions actually works to shape the physical and mental landscapes of our lives, are we actually prepared to deal with the consequences? So, while it may seem like this is just another marketing ploy, we instead should see this as actually another breach of private information which will continue to shape consumer behavior.
Krista Lawson

Abercrombie Isn't Alone: A Look at Other Brands That Have Shunned Consumer Segments - 9 views

www.forbes.com/...2

mk473 stp segmentation

shared by Krista Lawson on 01 Oct 13 - No Cached
  • Angelo Csuti on 01 Oct 13
     
    I think the article is right to a certain extent, but the example of Abercrombie is a bit extreme. Obviously, every company tries to target a specific group of consumers but does that necessarily always have to imply that its marketing strategies are discriminatory? Shouldn't a company have the right to target a certain consumer base in order to ensure a profit? Or does the seeking for profit not justify any type of discrimination no matter how small?
  • ...3 more comments...
  • Kyle Werner on 01 Oct 13
     
    I completely agree with Angelo here. A company has the freedom to sell to whomever they want, it would be business suicide to try to make everyone happy, especially in a specialty clothing store such as Abercrombie. In this case I do understand the reasons this is a big deal, a CEO talking about "good-looking" shoppers should be said in a more delicate manner if that is the message the person is trying to convey.
  • rteufel on 02 Oct 13
     
    I only partly agree. On Abercombie's side, making such a statement is really stupid since it doesn't change anything in a positive way. "Good-looking persons" are not more likely to buy because he said that and those persons, whom he deems as not fitting into his stores will be deterred from going there. On sides of the customers it really doesn't matter. If a shop does not have clothes that appeal to or fit a group of customers then they simply won't go there. This logic can be applied to any other firm as well. It is just stupid marketing in my opinion to puclicly announce certain customer groups as "not welcome" in their stores. Those customers that can't identify with the brand won't go there or by the brand anyway.
  • Lindsey Wacnik on 03 Oct 13
     
    I agree with the previous statement completely! It is one thing for a business to have a specific market, but make a public announcement of whom does not fit in that category was a poor move. It creates a negative connotation with the store, and it may sit poorly with some of their current and potential consumers. Some of the customers have friends that may not fit the target market; do you think that they will be deterred from shopping at Abercrombie when they are with this friend or friends?
  • Krista Lawson on 03 Oct 13
     
    This article focuses on three brands who have shunned specific consumer segments. Abercrombie and Fitch, Cristal and Burberry all have experienced issues in their process of market segmentation with offending specific consumers. Is offending specific consumers an inevitable consequence that all companies/brands will have to face? Not all brands can succeed with a one size fits all type of mentality, so how and when is it alright to completely exclude consumer segments? The types of people hired at these stores go through a specific process that is also discriminatory. For example, at A&F it is commonplace for only thin and attractive individuals to be hired on. Do we have a problem with this? How would we feel if we had the opposite type of individuals assisting us?
  • Paige Laughlin on 03 Oct 13
     
    I agree with a lot of the previous comments. While I do not think it is right for brands such we Abercrombie to expressively shun people from their stores because they are not the right size or shape or do not have the right look, I think it's acceptable for stores to segment in terms of their "target customer." Whether or not to factor in different body types or "pretty people" is a controversial question. When I worked at Hollister in high school, it was apparent that they searched for attractive people by the way they sifted through customers that came into the store, or the way they approached people in the mall. While I understand the need to segment a market and have a target customer, I do not think the people that work at these stores or the customers that shop there should all be the same.
Kyle Werner

How Marketers can Connect with Customers on Controversial Topics | Ferguson Values - 6 views

fergusonvalues.com/...tomers-on-controversial-topics

marketers customers presentation

shared by Kyle Werner on 08 Sep 13 - No Cached
  • Kyle Werner on 08 Sep 13
     
    With many companies using controversial marketing campaigns, this article focuses on a company that does it well and why it works!
  • ...1 more comment...
  • Lina Goens on 10 Sep 13
     
    Walmart absolutely made the right decision. They need to address this issue and I respect that they are changing to adapt to our more health conscious society. I think it is unfair that there is so much blame on CocaCola because they are not forcing us to drink it - we go and buy it. There are plenty of other drinks that are bad for someone too.. but that is a different discussion. I think this new image will help CocaCola in a positive way however they need to make sure they keep original drinks. I know that some of my friends or family who must have their diet cokes. I think the company is taking the right direction so that sustain a successful company for years to come.
  • Sarah Jacobsma on 10 Sep 13
     
    I agree with Lina, Walmart did make the right decision. As a society we are becoming more health conscious and companies will need to adapt to these changes. On the other hand there should not be so much blame towards CocoCola and as Lina said if we want it we go and buy it. As long as CocaCola maintains their original drinks along with adding healthier options will create a better image for them as a brand and offer options to more health conscious individuals.
  • Camille Sampson on 10 Sep 13
     
    Great article Kyle! I loved Coca-Cola's add campaign. Although it doesn't completely address the issue of their product being one of the highest contributors to the countries health epidemic, they are promoting the ways in which they're helping people make a healthier choice. It may not be the most ethical choice for a company, but they are certainly not digging them selves into a hole any deeper. I feel like Coca-Cola is dealing with the issues at hand in a very proactive manner, which positively reflects through their strong brand image and customer loyalty.
Emily Prellwitz

Will Whole Foods Dilute the Brand With a Lower Cost Chain? - 4 views

www.adweek.com/...-brand-lower-cost-chain-149955

mk473 stp segmentation

shared by Emily Prellwitz on 30 Sep 13 - No Cached
  • Emily Prellwitz on 30 Sep 13
     
    This article discusses how Whole Foods is trying to position itself as a go-to grocery store. Do you think this is a good move for Whole Foods? Do you think their position as a organic and higher end health only grocery is a better position for them?
  • ...3 more comments...
  • Sarah Jacobsma on 02 Oct 13
     
    I think that this positioning strategy is a great move for Whole Foods -- especially if they are successful. It seems more and more consumers value companies that have a positive impact on society and Whole Foods is doing just that.
  • Sarah Wesp on 03 Oct 13
     
    Personally, I think this is great! Though the new Whole Foods in Detroit may not be in the best location or have the best reputation, I do think it is very important for everyone to have access to healthy food. I do believe this is a good move for Whole Foods and could have a very positive/successful outcome.
  • alipaigeh on 03 Oct 13
     
    This article is really interesting because I was thinking the same thoughts about Whole Foods marketing strategy by establishing new stores in these areas. Since Whole Foods is thought of as a high-end grocery store, it is intriguing that they even want to expand into these low-income areas. I think this will definitely be a challenge for Whole Foods, but if they ultimately have success I think it will further strengthen Whole Foods' brand more so than any other grocer.
  • meganbos on 03 Oct 13
     
    I think loyal customers will recognize that the brand is capitalizing on helping a community grow. I think it will help the brand because it's consumers are interested in helping the community and creating sustainable environments.
  • alipaigeh on 03 Oct 13
     
    I think this article is very interesting because I had the same thoughts when learning that Whole Foods was expanding into these new areas. Since Whole Foods is considered a high-end grocery store, it really made me question what its marketing strategy actually is and if they are making the right decision by entering into these markets. I truly think this will be a challenge for Whole Foods because they are dealing with a market that is not truly its target market, but if they succeed I think this will strengthen Whole Foods' brand more than any other grocer.
Lina Goens

Fashion Startup Everlane Tests New Price Points With Luxury Totes - 6 views

mashable.com/...everlane-petra-totes

mk473 Pricing Strategy

shared by Lina Goens on 28 Oct 13 - No Cached
  • Lina Goens on 28 Oct 13
     
    This article describes the luxury bag price points.  Everlane chose to use a pricing strategy of around $400 compared to bags $1000 in this category. They can offer these prices by "cutting out middle men like retailers, operation on modest budgets..". However, the big issue is convincing its customers that the quality is still there. Everlane also mentions they will not do discounts because of the customer sensitivity. 
  • ...6 more comments...
  • Sarah Jacobsma on 28 Oct 13
     
    It will be very interesting to see if this pricing strategy is successful. If Everlane can promote to and convince consumers ad to HOW their bags are affordable i.e. cutting out the middle men. Consumers must believe that they are getting the same quality compared to $1000 bags. Not offering discounts is one of the major keys to getting this to work. I do love a good deal but if a bag was already significantly priced lower plus discounts I would begin to question the brand. Im convinced but will consumers be?
  • alipaigeh on 29 Oct 13
     
    I think the best part about this article is when it states, "Everlane's big challenge will be convincing shoppers that they're getting a good deal by purchasing bags that would retail between $1,000 and $1,500 for a fraction of the price." They are right by saying that consumers have no idea how much retailers mark up a simple t-shirt let alone a purse/handbag. Many women show "status" by carrying high-end handbags by Louis Vuitton, Marc Jacobs, Coach, etc. Like the article said, these handbags can run upwards $1000 to $1500! Interested to see how their handbags will sell, I really like them!
  • Sarah Wesp on 29 Oct 13
     
    The idea is really great, but I do worry about how they are going to advertise this to consumers to convince them of this great idea as well. If they can devise a plan to convince the consumers, then I think Everlane could be very successful. Though I am a huge fan of discounts, even if a $1000 bag were 50% off, I'd still be paying more than the $400 bag from Everlane. That being said, if they can convince consumers that the quality is still there, then I do think this pricing strategy could work.
  • meganbos on 29 Oct 13
     
    This is a really interesting pricing strategy for a brand that is interested in conveying quality. The brands that come with status are known for quality but women are also attracted to the altruistic aspects that women get from carrying a name brand bag with a designer name on it. I think that if this strategy is to be successful then they need to build their name in the market by growing their popularity and quality through consumer testing and testimony. They need to get their bags to have that status before they can expect to be in the same market as the other designer brands.
  • rteufel on 29 Oct 13
     
    I have seen the same pricing strategy before. A Dutch firm called Suitsupply sells high quality suits (also produced in Italy or Portugal btw) for medium prices (between $300 and 700$), even including in-store tailoring. They just started about 10 years ago but are now expanding all over the world. I visited their Chicago penthouse store last month and it looks really great. They also achieve those low prices by cutting out the middleman of the supply chain. The thing is that they rely almost only on mouth-to-mouth marketing and endorsements such as one of the WSJ that ranked a standard Suitsupply suit even above a $2000 Armani suit. What I want to say with this is that both Everlane and Suitsupply might have found a new way of price marketing that propells them in front of many of their competitors.
  • Lindsey Wacnik on 29 Oct 13
     
    I think Megan has a good point, if the brand doesn't have a status then why would people believe or want to buy it? When a brand has a status it gives it an association with quality, high cost, and etc. The status and association is what I think draws consumers in to purchase the various brands that are of the designer level. The brand needs to establish itself as a brand of quality a before they can expect consumers to believe they are offering them a deal on this bag that is comparable to the quality of a designer, well known brand.
  • Brock Naylor on 29 Oct 13
     
    I personally believe that Everlane's strategies are not only a fantastic approach at growing their consumer base, confidence and improving their brand image, but will also allow them to gradually squeeze in to compete with the handbag 'titans' - if you will. By eliminating excess costs and utilizing a penetration pricing method, not only will they be able to target a larger market that can afford their products, but they will also be displaying that they can compete with the other big name brands on the basis of quality alone.
  • Kara Blakley on 29 Oct 13
     
    I think the bags Everlane is selling at reasonable prices for this quality will pay off for them. I see this as a JCPenney type idea under Ron Johnson: selling items at good quality without sales or discounts. That way people will understand how Everlane is trying to give the customer the savings by cutting out the middle man/retailers to give customers the savings. If money grew on trees and I wasn't a broke college student, I would LOVE to buy one of those bags. To know it could sell at an upscale retailer for close to half the price with similar quality is great for the customer's piece of mind!
Kate King

Big brands target Hispanic consumers - 2 views

www.usatoday.com/...2845009

mk473 STP target marketing hispanic

shared by Kate King on 01 Oct 13 - No Cached
  • McDonald's and Walmart, are flexing their marketing muscles to reach the $1.2 trillion Hispanic consumer market. The population will account for about 11 percent of all purchasing power by 2017,
  • Walmart set out to double its multicultural marketing
Kara Blakley

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

www.forbes.com/...ovating-in-ways-they-cant-copy

mk473 environment 1 competitive factors urbanoutfitters

shared by Kara Blakley on 10 Sep 13 - No Cached
Krista Lawson liked it
    • Kara Blakley
      Kara Blakley on 12 Sep 13
       
      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
      Kara Blakley on 12 Sep 13
       
      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
      Kara Blakley on 12 Sep 13
       
      Do you like having continuity when you go into a store or are you intrigued by the differences Urban Outfitters showcases?
  • ...2 more annotations...
    • Kara Blakley
      Kara Blakley on 12 Sep 13
       
      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
      Kara Blakley on 12 Sep 13
       
      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?
  • Lina Goens on 10 Sep 13
     
    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!
  • ...3 more comments...
  • Krista Lawson on 10 Sep 13
     
    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.
  • Kara Blakley on 11 Sep 13
     
    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.
  • Lindsey Wacnik on 12 Sep 13
     
    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.
  • Sarah Wesp on 12 Sep 13
     
    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.
  • Sarah Jacobsma on 12 Sep 13
     
    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.
Camille Sampson

Target Knows Before it Shows... | Applied Data Labs - 7 views

www.applieddatalabs.com/...target-knows-it-shows

strategy customer experience promotion

shared by Camille Sampson on 05 Sep 13 - No Cached
  • Lina Goens on 05 Sep 13
     
    What a great target market! Never thought that by targeting mothers that they would continue to shop at the same location they bought bottles from. Crazy to think how companies can know so much about someone! Poor father.. but I think Target moved in the right direction by making the coupons more random and less direct. This is definitely something to take into consideration when I, or anyone else for that matter, finds marketing jobs. Great article! Loved the insight.
  • ...2 more comments...
  • meganbos on 08 Sep 13
     
    Anyone else getting a website error when they try to read the article?
  • Kyle Werner on 08 Sep 13
     
    Wow, what a surprising twist in an a very insightful article! I had no idea Target acquired this much data on its consumers. To be frank it almost worries me a little bit how closely one is monitored by retailers. But as Lina said Target took better steps in randomizing coupons, which makes me feel a little better. This was a great contribution to the class Camille thanks! Megan, Try this link http://www.forbes.com/sites/kashmirhill/2012/02/16/how-target-figured-out-a-teen-girl-was-pregnant-before-her-father-did/ it's a very similar article to the one Camille posted!
  • Sarah Jacobsma on 09 Sep 13
     
    What a great article. I had no idea the amount of data acquired about its customers. Like Lina and Kyle said it is a good idea to send customers a wide variety of coupons versus more direct coupons, which makes me feel a little less creeped out that target knows so much information about us. It is an interesting look on how companies acquire data to bring customers in and transform them into loyal target customers .. especially interesting to see that mothers are targets main target!
  • Emily Prellwitz on 10 Sep 13
     
    Target is one of those stores where I walk in needing one or two things and leave with five or six items I had no intention on buying. This article really shows how innovations in marketing research can boost sales immensely. I agree with Lina, Kyle and Sarah in that it is good that the coupons are more random so Target does not scare their customers away. I am interested to see what Target does their research on next because they have had such great success with the moms to be.
meganbos

The Biggest Marketing Lesson from Chipotle's 'Scarecrow' Video (and It's Not to 'Start ... - 5 views

www.linkedin.com/...illion-dollars-and-fiona-apple

mk473 environment 1 socio-cultural factors

shared by meganbos on 15 Sep 13 - No Cached
  • meganbos on 15 Sep 13
     
    Really great ad to watch!
  • ...3 more comments...
  • Lina Goens on 16 Sep 13
     
    Thanks for sharing! Great advice in there. Everyone should at least check out the commercial - totally worth your time. How genius to come up with a game along with the commercial. It never once said Chipotle but now I want to go there! Brilliant.
  • Emily Prellwitz on 16 Sep 13
     
    Amazing ad! This brings in a story-line to Chipotle's food and an emotional touch to get consumers to choose them over another fast food restaurant. There was no need to really even put Chipotle's name into the ad because that would possibly ruin the story. Another thing that is a great marketing move is the game app. This will attract to a younger crowd and can be used as a reminder to consumers that other fast food restaurants use unethical practices to produce their food.
  • Sarah Wesp on 17 Sep 13
     
    I love this ad! Not only does the ad do a great job of giving the background story and explaining how Chipotle started, but it also gives us (or at least it did for me) that warm feeling inside, the emotional touch as Emily stated. This ad was a great way for them to connect with their consumers.
  • Sarah Jacobsma on 17 Sep 13
     
    I really enjoy watching Chipolte's advertisements. I think it will make consumers more aware of thinking about where their food actually comes from. It brings me back to the article we read about "our generation" -- millennials and Toms, a think a new trend is what companies can do for others and our environment beyond the purchase. Like Sarah said it created an emotional reaction out of me -- which is a great way to connect with consumers.
  • Sarah Jacobsma on 17 Sep 13
     
    I really love this ad! I think more and more companies need to focus on where their food comes from as well as what they can do for others and not just the bottom line. This ad created an emotional reaction from me and has strengthened my connection with Chipolte. I think there is something to be said about companies who care about the environment as well as their consumers. I think as a society we are becoming more and more health conscious -- Chipolte is just ahead of the game.
Kyle Werner

JCPenney to Launch 565 Disney Store-Within-a-Stores on Oct 4 | InvestorPlace - 2 views

investorplace.com/...store-within-a-stores-on-oct-4

mk473 place

shared by Kyle Werner on 30 Oct 13 - No Cached
  • Kyle Werner on 30 Oct 13
     
    After numerous setbacks, JCPenney is coming out with a different strategy with a new partner.
  • ...4 more comments...
  • Sarah Jacobsma on 30 Oct 13
     
    The idea of placing "Disney Stores" within JCP stores is interesting. I am a little confused -- I thought JCP was aiming to bring back old customers and people our age? A Disney Store would bring in younger ages and parents. It is pretty cool knowing you can go to JCP and purchase Disney Products. This is a great idea but this will bring in a totally different market yet again. As long as they stick with this strategy it could be successful. On the other hand, if this doesn't work -- changing strategy yet again could be risky.
  • Kara Blakley on 31 Oct 13
     
    I think JCPenney selling Disney merchandise is a great concept, and reminds me alot of the mini Finish Line sections in Macy's department stores. Children are going to lure their parents into buying Disney items when they go shopping because they will recognize their favorite animated characters and want merchandise to call their own. Also for the holiday season, parents will be able to buy official Disney products at their most convenient JCPenney location instead of waiting for online shipments to arrive or finding their nearest Disney store. It's seems like a great thing for parents who are in a pinch for a gift or birthday party present for their child's friend to get Disney items at JCP because everybody knows and loves the characters/movies. Finish Line's mini stores seem to be successful, and I think the holiday shopping season is a great time to see if these mini Disney store sections will succeed. Maybe it's steps like this launch that can bring JCPenney back to being prominent in customer's minds.
  • Sarah Wesp on 31 Oct 13
     
    Though I am a bit confused by JCP's new strategy to partner with Disney, I do think it could be a successful move. Their target market has not typically been a younger crowd, so this will be a good way to get children and their parents into the store.
  • Carly Foley on 31 Oct 13
     
    I agree with Sarah and Kara. I am suprised that the two are partnering, but I think it will be a good idea to help bring JCP come out of this little rut they are in.
  • meganbos on 31 Oct 13
     
    This is an interesting pair because I know that Disney is very particular about who they partner with. JCPenny does not necessarily seem like the strongest brand name to associate with the Disney brand. This may end up harming Disney in the long run or greatly helping JCPenny- however it doesn't not directly reach their target market.
  • John Cummings on 05 Nov 13
     
    I am also surprised.. I worked at Disney world in Orlando and I do not see what disney expects to gain from this partnership.
alipaigeh

Food Trucks Motor Into the Mainstream - 2 views

network.intuit.com/...ucks-motor-into-the-mainstream

mk473 place

shared by alipaigeh on 30 Oct 13 - No Cached
  • alipaigeh on 30 Oct 13
     
    My presentation will primarily focus on different types of food trucks and how the food truck industry is starting to boom. I really encourage you to watch the short video at the end of the article!
  • ...3 more comments...
  • Lina Goens on 30 Oct 13
     
    This trend follows the Millenial's "on the go" mentality. The unplanned location seems to be catching on and the people are attracted because of the quality of food. The food trucks are able to offer a relationship with costumers considering the chief is most likely running the cashier. There seems to be a perception that the food is more fresh than restaurants and food trucks are picking up on trends by offering organic options. The experience is more personal interaction which is what Millenials want.
  • Lindsey Wacnik on 31 Oct 13
     
    I agree with Lina, it is all about the experience, and the food trucks can provide this. They are able to provide great service to their customers and provide more options on trending food such as organics. I am interested to see if there will just be more food trucks in large cities like Indy and Chicago or if they will start appearing in cities that are more medium sized cities. They are projecting a large increase in revenues and I am interested to see how they will able to achieve this.
  • Angelo Csuti on 31 Oct 13
     
    Good topic! Also in Germany, food trucks are becoming bigger and bigger. The ability to cover several areas and thus markets, is a high advantage. However it is also hard to maintain a working customer relationship. In Germany a lot of them have fixed dates at which they are at certain predetermined places, so customers can literaly chase them. I think by doing so, they lose a big fraction of their competitive advantage again, because in the end they do depend on fixed locations. However, if they don't do it, they can only count on spontaneous purchases. It is a trade off!
  • Emily Prellwitz on 31 Oct 13
     
    I agree with Lina about the trend of "on the go" food. I feel like food trucks used to have a low quality reputation but today more and more food trucks serve amazing gourmet food. A lot of cities even have food truck festivals with a ton of different options and different experiences. The fact that food trucks are a essentially a restaurant that can be anywhere at any time gives them a huge competitive advantage as far as place goes.
  • meganbos on 31 Oct 13
     
    This is really interesting, in another class I am focusing on the benefits and the popularity of specialty food in the recent market. I think food trucks really meet this market of people looking for good food at a quick pace. This also incorporates the sense of community around food trucks.
Kara Blakley

Basics Get Luxury Treatment - WSJ.com - 5 views

mk473 product merchandising_branding

shared by Kara Blakley on 21 Oct 13 - No Cached
  • Kara Blakley on 21 Oct 13
     
    This article dives into the "product" category of the Marketing Mix and explains what Proctor & Gamble is doing to get consumers to purchase elite versions of their everyday products. In class on Thursday, I will give a detailed explanation of what retailers, such as Walmart and Target, are doing to promote and display these items in their retail stores as part of their merchandising and brand strategy.
  • ...3 more comments...
  • Kara Blakley on 21 Oct 13
     
    I used the "capture" tool to post the article from the Wall Street Journal in case some didn't have a subscription to WSJ.com. When you click on the image, click on ORIGINAL SIZE to make the article larger and readable!
  • Sarah Wesp on 24 Oct 13
     
    I find this article interesting because I do think consumers are often willing to pay a higher price for certain items, especially if they are proven to work better than other brands, even if they are "everyday products." Also, it is amazing how much hype and advertising something such as paper towels get, which also drives consumers to buy the product. I look forward to hearing exactly what retailers are doing to promote these items!
  • Carly Foley on 24 Oct 13
     
    I completely agree with Sarah! I will pay a lot more for a product if the quality is better. I would rather buy a product that will be more expensive but last longer than have to go out all the time and get a new one. It is a time saver and just convenient. I mean when it comes to shoes, something I where everyday. I can buy a $10 pair and they wear out in a month. I would rather spend $100 on good Nike's that will last me a few years. You know what they say...you get what you pay for.
  • Krista Lawson on 24 Oct 13
     
    I thought this was really interesting as well and instead of the paper towel example I thought of trash bags. Generally I tend to buy the cheapest option possible of these type of house items given that they will do a decent job, but trash bags are a different story for me. I don't know the exact price of the trash bags I buy, but I do know they are of the "higher end"- as far as trash bags go. I think this is more of a quality issue for me because cheap trash bags have the tendency to breaking meaning they lose their purpose. Overall, I think there are some things where I would be tempted to buy a luxury basic item due to the convenience for me. I think it's also interesting to note that I have observed people with large disposable incomes buying the item on the shelf that seems most luxurious because they have the money. I think it is an interesting concept that can be utilized well for the right market.
  • Thomas Holmes on 24 Oct 13
     
    One question I would have would be why P&G still push to have a higher-high end product with the duratowel. This article even mentions that the normal Bounty is considered a high end towel. Is the R&D and new advertising for the dura towel needed or would a simple focus on the normal Bounty be sufficient since it is already a high end paper towel? Its clear that they want to be the strongest presence in the higher tier and they have already released substitutes on the lower end of the spectrum so is it a smart choice to try and push the boundaries on premium paper towels or even necessary?
jkayjohn

Patagonia's 'Buy Less' Plea Spurs More Buying - Businessweek - 6 views

www.businessweek.com/...uy-less-plea-spurs-more-buying

mk473 promotion communication branding

shared by jkayjohn on 04 Nov 13 - No Cached
  • jkayjohn on 04 Nov 13
     
    Patagonia has built a brand image that focuses on buying less and decreasing environmental harm. The strategy has actually worked so well Patagonia has actually had an increase in sales and caused other companies to follow suit and pledge to decrease there own harm to the environment. Patagonia has done a great job communicating with their consumers and have created a brand loyalty and great image while using this market strategy.
  • ...2 more comments...
  • rteufel on 04 Nov 13
     
    I am wondering for how long this green trend will persist. I mean, so many companies are starting all those fancy campaign now but will there be a point when consumers just don't demand it anymore because they are fed up with it? It is a good thing though to tailor promotion to appeal to the "green" part of consumers' minds...
  • alipaigeh on 05 Nov 13
     
    I agree with Raphael... how long will it last? Is there a point where you cannot get any more "green"? I think it is interesting that the article mentions H&M regarding their new initiative for giving discounts on returned clothes. It is great that the initiative is working well for Patagonia, but what more can Patagonia do with the "green" initiative?...how can Patagonia build further on this?
  • Brock Naylor on 05 Nov 13
     
    This truly blows my mind with it's level of genius alone. By urging people to live out their Patagonia jackets to the full extent of their life, they are not only conveying brand quality, but the 'idea' brands that millenials swoon over. By representing themselves as a Eco-conscious and 'caring' brand, they are inspiring more sales by urging the opposite. It's damn brilliant.
  • John Cummings on 05 Nov 13
     
    I agree with Patagonia's approach.. Society is becoming more and more green oriented and this approach targets that market. This is boosting sales and I believe will continue to raise sales because more and more people want to at least say they are trying to save the environment
Lina Goens

J.C. Penney's Sales Just A Myth? Retailer Accused Of Hiking Prices Then Discounting Them - 2 views

www.huffingtonpost.com/...increase-prices_n_3390910.html

mk473 environment 2 legal regulatory ethical JCP

shared by Lina Goens on 18 Sep 13 - No Cached
    • Lina Goens
      Lina Goens on 18 Sep 13
       
      This reminds me of the mystery shopping we will have to do! Just by investigating, they found out they were being tricked into buying more expensive clothing. We can look out for these types of tactics when we go shopping. 
    • Lina Goens
      Lina Goens on 18 Sep 13
       
      It also mentioned sales online aren't actually sales.  If you look back at the website from January there are lower prices than the sale items now. Did JCP think people weren't going to notice?
    • Lina Goens
      Lina Goens on 18 Sep 13
       
      It is not uncommon for companies to mark up prices, but the problem is that there is a deception when they mark them up and put them on sale.  People believe they are paying less, but they are not.  Good marketing strategy?
  • ...3 more annotations...
    • Lina Goens
      Lina Goens on 18 Sep 13
       
      The least JCP could have done was make new tags so that people couldn't see the previous prices. They seem to think we are lazy! This deceptive pricing could hurt the already hurting JCP. 
    • Lina Goens
      Lina Goens on 18 Sep 13
       
      JCP didn't want to "untrain" they wanted to attract a new generation.  By not being able to do so, only the same customers came and therefore were unhappy with the everyday prices. Maybe they needed a better transition instead of changing everything so quickly.
    • Lina Goens
      Lina Goens on 18 Sep 13
       
      Makes me wonder if we really are ever getting a deal if other companies are being accused of the same deceptive pricing. 
  • Lina Goens on 18 Sep 13
     
    JCP failed to convince customers to buy at "everyday prices" so they decided to bring sales back. To do this, they marked up prices then marked them down however people ended up paying more than the "everyday prices" and there is evidence that proves it.
  • ...2 more comments...
  • Kyle Werner on 19 Sep 13
     
    Great article Lina!! I am sure that this is a strategy commonly used by retailers, but it is NOT one that should be used by JCP. This company is already in a lot of hot water and financial trouble as it is, it would be a safer bet to play it safe than to have their tactics exposed and eliminate the already shrinking customer-base that J.C. Penny has.
  • Camille Sampson on 19 Sep 13
     
    Of course, keep in mind, price anchoring has been standard practice in business for a long time. Not only do we see this in the retail industry, but also in other industries like healthcare, higher education, and auto sales. This is just the nature of capitalism; it;s a political economy that aims to maximize profits at minimal cost. The reasoning behind price anchoring is that original prices are the starting point for negotiations. Although this perspective is a useful tool for businesses trying to make an easy profit off of customers who think they're saving money, it is nonetheless insulting to those customers who have little to no leverage or agency to negotiate prices. The average consumer does not realize that this type of pricing occurs because most hold tight to the belief that businesses always have their best interest at heart; little do they know that businesses are interested in one thing and one thing only- the bottom line. So, although price anchoring may not be a GOOD strategy (because it not only insults the customer by taking advantage of them, but also strips them of their ability to make informed decisions) it is a strategy that works for all intended purposes. The reason it works is because everybody would like to hear that they have saved money. I see this anytime I go shopping with my mom; if there is a sale she's sure to be there because, to her at least, "any sale is a good sale."
  • Sarah Jacobsma on 19 Sep 13
     
    Very interesting article. It seems that JCP has changed their pricing strategy multiple times this year -- I think this strategy could possibly cause JCP to loose more customers. Marking up and down is a good strategy but not when existing customers know what specific items cost -- the worst is that JCP put higher price tags on top of low ones (as a customer I would just be offend and that alone would drive me to shop else where). I think JCP has driven customers to think they are getting ripped off rather than getting good prices and leading them to believe they are getting a bargain. I think it is a very common strategy used by retailers and I am not bothered by it but when I become fully aware of it -- that is a problem.
  • Kara Blakley on 19 Sep 13
     
    It makes me sad to think that companies are "tricking" us to get our business. I understand from a "marketing mindset" and psychological perspective that companies get us to think we are getting such a great deal when prices are slashed. Just like the article also mentioned, Kohls may do this too. They always make a conscience effort to circle (in red pen) the amount of money you saved today on our shopping trip. But that number fluctuates so much based on when there is Kohl's cash, 15-20% off mobile coupons, etc. They always make you think you got an amazing deal, when next week it could be even better...or worse.
Thomas Holmes

From McRibs to Maseratis: The Power of Scarcity Marketing - 2 views

hbswk.hbs.edu/7236.html

mk473 consumer behavior

shared by Thomas Holmes on 24 Sep 13 - No Cached
  • Thomas Holmes on 24 Sep 13
     
    How limited offers can make consumers perceive products as better than they actually are.
  • Krista Lawson on 24 Sep 13
     
    I really liked this article because I was able to find aspects where I can really relate. One thing that came to mind is durning Christmas/winter months, Hershey's releases candy cane peppermint kisses. I have associated these with only that time and I'll buy more of them specifically because I know they won't be here long. I don't feel like this is something we as consumers need to learnt o say no to. I think it is merely a marketing ploy that works well. For those from Indiana, or other similar states in terms of seasonal changes, I feel like we are all somewhat trained with this mentality due to our seasonal changes. Towards the end of Winter we can't wait for Spring and so on. I ink it would be interesting to see did there is any difference related to this scarcity concept among people from Indiana for example versus Florida. I think it would make sense that people in Indiana may buy more of something associated with winter during that time due to the temperatures we experience versus Florida who would still have that winter spirit, but not the weather to further encourage it. It could have no effect, but I think it's interesting to think about.
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