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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.
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.
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.
meganbos

2 Reasons Consumers Can't Help But Waste Money On Brand-Name Drugs - 4 views

www.businessinsider.com/ric-vs-name-brand-drugs-2013-6

product mk473

shared by meganbos on 21 Oct 13 - No Cached
  • meganbos on 21 Oct 13
     
    This article talks about the tendency for consumers to buy name brand drugs. It references the similarities between generic and name brand products, and about how people "believe" in the name brand products and do not trust the generic branded drugs despite the fact that they have exactly the same ingredients in them. In terms of product this article stresses the importance of a brand name and brand image in the consumer's eye. It highlights the fact that consumers are more likely to purchase products that they trust simply because of a logo or a name, even if the product costs substantially more. The article draws the point of how consumers first believe and then are conditioned to only buy name brand products. It brings to light that consumers need to consider the price quality perception and recognize that they are paying much more for exactly the same product.
  • ...5 more comments...
  • Kara Blakley on 23 Oct 13
     
    I found this article really relevant to my own life. I almost always buy the brand name product, especially with medications. My brother has just started to buy the Equate or Up&Up versions of Ibuprofen because he looked at the back of the bottle and found both products are made exactly the same. I completely agree with the point Megan pointed out about how we are "conditioned" to buy name brand products. My whole life, my family has always purchased brand name everything - from peanut butter, to toilet paper, to milk - because we perceived better quality with the higher price and brand name to back it up. I do agree with this to an extent that some items are made better or are of higher quality. I have been raised on these products and trust them, but I am definitely going to re-examine some of my product purchases in the future so I can save money but not trade down on quality and effectiveness.
  • Sarah Jacobsma on 24 Oct 13
     
    I agree with Megan's statement: "It brings to light that consumers need to consider the price quality perception and recognize that they are paying much more for exactly the same product." As a consumer we typically go for name brands but what we need to realize that some products -- like medication are the same. I agree that "brand names" mean a lot to people and sometimes I don't get why. I usually go for a generic brand especially when the ingredients are the same as the brand name - it just depends on the product and a consumers willingness to stray from what they know. It would be interesting to do a blind fold experiment on many brand name products versus off brand products and see what consumers prefer.
  • Lina Goens on 24 Oct 13
     
    I'm not a sucker! Always buy generic.
  • Sarah Wesp on 24 Oct 13
     
    It often depends on what I'm buying, but if I can get the generic, knowing it works the same, I will buy that product over the brand name. For this example specifically, it is often a mind game with patients, just like the article said. If you have the attitude that you are going to get better by taking Advil instead of Ibuprofen, then you probably will get better. On the other hand, if you have the attitude that you are not get better by taking Ibuprofen, then chances are you may not because people get it in their head that they will not get better with the certain medication even though it is the same thing. Seems pretty crazy, but it's true. So I can see where people are more apt to buy the brand name products due to that perception they have of that product.
  • Paige Laughlin on 24 Oct 13
     
    I totally agree with what Sarah said about it depending on what I'm buying. If I'm just getting ibuprofen, I will almost always get the generic brand from target or cvs. However, if I'm getting really any other sickness medications, I will get the brand name. Somehow it's always been in my head, like the article states, that those brands are better and will be more effective. I also think, for our generation, it depends on what we've grown up with. My parents normally buy brand name medicines (other than Advil), and I know my grandma will always get the brand names, no exceptions. It's interesting to see how people feel about this kind of thing.
  • Thomas Holmes on 24 Oct 13
     
    Having dealt with migraines most of my life I was always used to grabbing Excedrin when I was at home because that is what my Dad kept around for his migraines. After coming to college and really being budgeted I found myself trying the off brand migraine relief medicines. I was hesitant but when it came down to it I found comparable relief with each and now get to enjoy the extra few dollars in my pocket. I think a lot of it was that I just grew up with a certain brand in the house so I think it matters what your parents buy because when it comes to you buying on your own it is often what you remember using. If my Dad had used off brand medications then I am sure I would have just continued that trend right off the bat and not hesitated on getting them.
  • Emily Prellwitz on 29 Oct 13
     
    This trend shows through with not only brand name drugs vs. generic drugs, but also with just about every kind of consumer product. It shows through with different kinds of food and drinks as well. It is very hard to tell the difference between Diet Sam's Club soda and Diet Coke, however we all tend to go with the brand name Coke product instead. This shows how consumers stick with what they trust even though the other option might be the same.
Kate King

Retailers, Take Note: Young Shoppers Don't Care About Owning Your Stuff | Fast Com... - 14 views

www.fastcompany.com/...t-care-about-owning-your-stuff

mk473 environment 1 socio-cultural trends millenials

shared by Kate King on 28 Aug 13 - No Cached
  • meganbos on 31 Aug 13
     
    This was really interesting to read especially because my friends and I just spent the afternoon roaming around Mass Ave and not one of us made a purchase. We decided to spend the day at the City Market and then walk around downtown. I think that in relation to this article our generation is becoming for concerned with experience as opposed to purchases. While none of my friends made purchases in stores downtown, were were willing to pay the gas and food prices ect. in order to contribute to our overall experience downtown.
  • ...4 more comments...
  • Sarah Wesp on 01 Sep 13
     
    To piggyback off Megan, I also find this very interesting because about three weeks ago, something very similar happened with my friends and I in Chicago. We spent the entire day downtown and spent our money on the train ride, taxis, food, and a Ferris Wheel ride instead of purchasing items on Michigan Ave. I think all of us would agree that going to Navy Pier, touring Trump Tower, riding the Ferris Wheel, taking pictures at the bean, etc. made that "overall experience" more than buying "stuff." Also, I think DIY projects are becoming more and more popular. For example, before coming to school, I went into a little boutique close to home and found a few things I liked, but instead of buying them there, I purchased the supplies needed to make them myself. Though they did not look exactly like they had in the store, they were much less expensive and more special to me. So overall, I think people are starting to craft and do more DIY projects instead of buying items at a store.
  • Paige Laughlin on 02 Sep 13
     
    This was very interesting to read about because it is so true. There are a ton of people, my friends included, that prefer to online shop than buy things in a store. I am more of an in-store shopper; however, I do shop online occasionally. The most interesting part of the article to me was about whether or not our generation was becoming more or less "material-focused." While we do tend to be buying more online, I think this generation is just as material, if not more, than any other. Because we have the option to buy online, it gives us easier access to purchasing items: not only can we buy in-store, but we can also buy online. This, in my opinion, give us the a greater chance of materiality.
  • alipaigeh on 02 Sep 13
     
    I think the topic that this article is centered around is really easy for our generation to relate to, especially for me. I can't tell you how many times I go to H&M, Nordstrom, or any other retail store just to "check out what they have." I would say there's an even 50/50 chance that I will walk out with something or not. I think the most true idea in Peterson's article is "almost anything they [millennials] want can be found and bought online, when and where they want it." I think this is so true of this generation because if we can't find something we want online, that item that we wanted is pretty much scrapped because we cannot look at it from our own homes. Making everything as most convenient as possible for consumers, in my opinion, is the the primary goals for retail stores and this article definitely discusses that aspect.
  • Lina Goens on 03 Sep 13
     
    I agree with Megan and Sarah. Last semester in Prof King's class we discussed JCPenny's plan to become more of an "experience" for shoppers. I am not quite sure if JCPenny was able to execute this plan, but it seems as though it would work for millennials. Even the History of US Retailing predicts that "specialty operations that bring selection and a high- quality customer service and shopping experience" will survive and prosper. Megan and Sarah went for the enjoyment of friends and the city. That is exactly what our generation and millennials want. What we want is an experience, to be a part of something. I think that if retailers understand how to do this then they will have more customers. On top of this, the article says that the millennials are becoming more "frugal" therefore retailers need to make more of an effort to prove that a store is worth a millennial's money. Just a quick thought - don't know if any clothing companies do this or not (probably) but if an online store let a customer create a lookalike avatar - same height, weight, ect. Now the online shopper can dress themselves on the computer (kind of creepy to think about but hey! An experience nonetheless). I think ideas like that which add an experience would spark millennials' interest.
  • Lindsey Wacnik on 03 Sep 13
     
    This article made me really think about my purchasing habits, and what I value when deciding whether or not to make a purchase. What really stuck out to me in this article was the idea that the millennial generation might be becoming more frugal. With the heavy focus on online shopping, I think it provides customers with more options. You have the ability to go to a store find something,not purchase it, but still have the experience the "shopping" experience. If you saw something while looking that you want, there is the option to go online to seek out better deals with other companies for the same product. So the millennial generation may be more frugal in the sense that there are many ways of obtaining the items they want, but they utilize the internet to seek out better prices.
  • Emily Prellwitz on 03 Sep 13
     
    I agree with Megan, Sarah and Lina. I view shopping more as a social experience than anything else. It is very rare that I ever go shopping by myself because I enjoy having someone there with me when I am trying clothes on and walking around etc. With that being said, after a day of shopping or being in a shopping environment I do not base whether I had a good day or a bad day based on how many items I purchased but whether I had a good experience shopping. Whether that be based on the people I was with, or if my food was good or bad or if there was good or bad customer service at the stores I was at. I also personally think there is a completely different experience shopping for clothes in a store vs. shopping for other retail items (electronics, jewelry, appliances, books etc.) in a store. A lot of people (myself included) like to try on clothes to see how they fit and how they look on so I enjoy shopping for clothes in-store. However, when it comes to other items that do not need to be personally fitted to me, I enjoy online shopping just for the pure convenience.
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.
Kyle Werner

Five Reasons We Impulse Buy | Psychology Today - 10 views

www.psychologytoday.com/...five-reasons-we-impulse-buy

mk473 consumer behavior impulse

shared by Kyle Werner on 23 Sep 13 - No Cached
  • Kyle Werner on 23 Sep 13
     
    This article discusses why consumers typically jump on impulse buys. Being knowledgeable of these triggers will make the buyer more aware in the future.
  • ...7 more comments...
  • Lina Goens on 23 Sep 13
     
    I wonder if this trend will ever change. JCP thought we were smart enough to know the difference but apparently we weren't. It seems that JCP was a little before its time by thinking in this way. Our subconscious feeds off of impulse buys because its instant gratification. Hopefully I can resist next time I'm out running errands.
  • Sarah Wesp on 24 Sep 13
     
    All five reasons are so true and I have probably had at least one impulse buy for every reason, but I think the biggest reason for those impulse buys are because of those discounts and sales. Who doesn't love to save money? Now that I have read this though, I am going to try to be more cautious the next time I'm out shopping (hopefully there aren't too many good sales going on).
  • meganbos on 24 Sep 13
     
    I thought this was really interesting especially because it came from psychology today. However, number two was not what I expected. I am usually accustomed to people brining up buyers remorse, rarely do they ever say they never regretted it. Maybe that is just with more expensive purchases and not on sale items? All of these articles on pricing have made me more aware of how stores are manipulating me into buying, and I must say most times it works!
  • Angelo Csuti on 24 Sep 13
     
    Yes, I agree with Sarah. I also bought a lot of those products, which I will never use again, but I think that behavior is not as unconscious as the article may want us to believe. Most of the time I am pretty aware of the fact that I am buying stuff because I perceive it as a good deal, even though I also know I won't make too much use of it.
  • Sarah Jacobsma on 24 Sep 13
     
    This article was really great -- I impulse buy for all five reasons and a place I impulse buy from ALL the time Groupon. I agree with Angelo I buy products and sometimes when I am buying them the thought crosses my mind if I will ever use it again does not matter. I usually buy things because I think it is a good deal because lets face it we love to buy things -- especially when they are discounted or on sale!
  • Krista Lawson on 24 Sep 13
     
    I also agree with the sales aspect being one of the biggest reason for impulse purchases. In two different jobs I have worked we had What we called PWPs (purchase with purchase). Once a customer made I purchase I was able to offer them another item at a discounted price. I would always say, "with your purchase today you qualify to get -said item- for 50% (or other discount) off!" Granted, this sale usually went on for three months or so, but using the word 'today' tended to convince customers they needed this item. So e customers would think out loud and reason why they should go ahead and buy it which was always interesting for me to listen to. As a sales person, I would remind them that the sale wouldn't last for long and it was a great deal so they could get it now and not have to come back hoping the sale was still going or that supplies were still available. Most of them never would have bought the item had they seen it on the shelf, but hearing the discount associated with their purchase today they felt obligated to buy, and almost always did.
  • Kara Blakley on 24 Sep 13
     
    Target is my downfall for impulse buying! I always stop by the dollar bin section (especially when it is 50-70% off) then I feel like I need everything! Which is terrible because I can personally go to almost half the things I've purchased in my home that I have not used. The other day at Michaels, I witnessed a lady purchasing some scrapbook paper and after having to wait for a few customers ahead of her, she purchased a small piece of Hershey chocolate sitting in a bin for 59 cents. I couldn't help but think about the marketing and item placement that Michaels thinks about in their store layout because they would not have sold that extra item had it not been convenient and inexpensive. The placement of small items helps create more sales - especially by the cash registers - as children and people of all ages may want things they didn't think about when initially going into the store. This was a really interesting article!!!
  • Emily Prellwitz on 24 Sep 13
     
    I think this article perfectly describes a lot of purchases made on black Friday. I have made a lot of purchasing decisions on this list. This is exactly how stores draw people into their stores by offering a huge sale but only for a limited time. Or for online shopping stores sometimes offer free shipping for a limited time in order to create impulse purchases.
  • Paige Laughlin on 24 Sep 13
     
    I totally agree with Emily. After working the last three Black Fridays at Express, it's amazing to see how impulsive customers are when buying items. I am definitely one of those people as well, especially in a huge sale environment. You ask yourself "will it ever be this price again?" And if the answer is no, I will probably buy it.
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.
Kate King

'Idea brands' will win big with Millennials: Here's how to attract them | RetailCustome... - 7 views

www.retailcustomerexperience.com/...als-Here-s-how-to-attract-them

mk473 environment 1 millennials socio cultural trends

shared by Kate King on 09 Sep 13 - No Cached
  • Paige Laughlin on 10 Sep 13
     
    I really enjoyed this article because I could not agree more with the author. I agree with the idea that people born in generation Y and millennials value brands that we can get more out of than just a purchase of an item. The concept of "idea brands" really resonates with me, especially the Toms example. In all honesty, Toms are not the most attractive shoe to me; however, because they are so popular due to the cause they support, they instantly become more attractive to me. Without the cause and support behind them, I do not think they would be half as special as they are to people today.
  • Lina Goens on 10 Sep 13
     
    Paige elaborated well on the Tom's example. This article just continues to agree with what we all keep saying. Everyone wants to participate and experience brands. I hope JCP catches on to this that way they can survive! Doesn't seem to be an option anymore - it's a necessity.
  • Sarah Jacobsma on 10 Sep 13
     
    I really enjoyed this article. It just set off a little reminder in my head that as businesses are comming into play they should really keep in mind that "millennials" do really value a brand that is more eco-friendly or helps a greater good, basically anything that enhances beyond the purchase point. I think if a company is starting up it really should consider the buying power millennials have in the market place as well as create a business that "supports" and makes a conscious effort to do good. I completely agree with what Paige had to say about Toms, "I do not think they would be half as specials as they are to people today"
rteufel

The Future of Customer Service: These Companies Are Getting it Right | Business on GOOD - 4 views

www.good.is/...companies-are-getting-it-right

mk473 customer service customer service

shared by rteufel on 17 Nov 13 - No Cached
  • rteufel on 17 Nov 13
     
    This article lists some retailers that have been exceptional in their customer service. As I will be talking about Pre-purchase customer service, you can focus on that while reading what the firms are doing. How has your experience been with each of them?
  • ...4 more comments...
  • alipaigeh on 21 Nov 13
     
    I think this article is really great. I was interested to see that Zappos let the call center spend 10 hours with a customer. What were they doing for that long? Also, the article mentions Twitter activity sky-rocketing, and I find this interesting to see these companies utilizing different social media platforms to reach their customers.
  • Kara Blakley on 21 Nov 13
     
    There is something to be said when (by the time you are finished reading this article) you are smiling from ear to ear! I was so incredibly touched by these retailer's stories of impecable customer service - especially the Ritz-Carlton with Joshie the Teddy Bear being able to explore the hotel's pool, front desk, golf cart, and getting his own Ritz-Carlton ID badge before being returned to it's owner. When a company (any company or retailer) goes out of their way to make a customer's day and keep them as a loyal/return shopper, there is nothing more special and important. Just by reading these stories, I am going to tell people about the company. Word-of-mouth marketing is the best form....and here I haven't even been an actual customer or purchased from them! Really, really neat to read how associates go above and beyond. The sad thing is that we just don't hear enough of these stories any more - it's almost like they come "once in a blue moon" when shouldn't they be happening every day? Food for thought as we go into our own customer service roles in the future!
  • Lindsey Wacnik on 21 Nov 13
     
    Like has been mentioned in the previous comments, this article was a real eye opener. The lengths that these companies go to in order to provide spectacular service to their customers is remarkable. These companies are making a name for themselves and this service is helping to increase their brand reputation. People will be drawn in by the experience they can receive.
  • Thomas Holmes on 21 Nov 13
     
    My brain makes me wonder how the company would react if an opposite reaction is given. Take the last one with the tiger bread really looking like giraffe bread, what if another child looked at that and was so unhappy that he can't eat awesome tiger bread anymore and has to eat stupid giraffe bread, and he sent in letters asking or begging to see tiger bread return. There is always a risk that it pleases one customer and displeases another. I can see going above and beyond like giving the grandmother clam chowder even on the off days and staying on the line for 10 hours but the "bottom up change" listed seems whimsical and pointless expect to have the story known and gain recognition. When I look at it that way, maybe a little too cynically because I am taking away the little girls giraffe bread, it seems like if you change your product for one person then why would the other customers expect any less. I think that good responses should be things you can replicate for every customer not just one or two over the top cases. I want my Tiger Bread back....
  • Angelo Csuti on 21 Nov 13
     
    Good article! I heard about the tire-Nordstrom story and it really brought in a lot of publicity for the company. Interesting to see that those extreme customer services do not get too much abused by clients and still pay off . However I think it always depends on the company size. A small shop with excellent customer service always runs in danger of spending too much money and not getting enough word of mouth.
  • Sarah Jacobsma on 21 Nov 13
     
    The customer service these companies provide to customers is amazing. These are some of the reasons that they are successful and stand out to consumers. I agree with Angelo that I am surprised people do not take advantage of these companies. I always respect companies and prefer to go to ones with better customer service in the end.
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

PayPal points Beacon toward the future of in-store payments | RetailCustomerExperience.com - 2 views

www.retailcustomerexperience.com/...he-future-of-in-store-payments

mk473 environment 2 technology

shared by Kate King on 12 Sep 13 - No Cached
  • Kate King on 12 Sep 13
     
    Be sure you check out the two videos as well -
  • ...4 more comments...
  • meganbos on 15 Sep 13
     
    Wow! This is some really cool technology, and it sounds like it would make life convenient- but I can't help but wonder about the security of the system and how easy it would be for someone to hack into your paypal account and risk you losing everything. Also, it wasn't explained very well how stores monitor this, can you just walk out with our product in the grocery store or how does that work? It seems like although this would increase efficiency of the shopping experience there may be some pretty big issues to iron out as well.
  • Sarah Wesp on 15 Sep 13
     
    All of the things that continue to evolve with technology just blows my mind! This PayPal Beacon does seem really great, efficient, and very convenient but I do have some of the same concerns that Megan pointed out. So when you go up to confirm, do they check to see what you have to make sure everything is accounted for? I think this does have great potential and would make the check out process much easier, I would just want to know a little bit more about this system.
  • Lina Goens on 16 Sep 13
     
    Megan and Sarah nailed my same concerns. Seems like there are some loose ends that need to be cleared up but interesting concept overall. I like the idea that I could be greeted by my name when I walk into a store. I think this could help marketers learn a lot about their customers and what people buy when they come into a store. For example, it would be great if a sales employee could see when and what were the last items a customer purchased. That way the sales associate can direct the customer to products they like. PayPal Beacon could help out immensely!
  • alipaigeh on 17 Sep 13
     
    WOW, what an invention. How perfect would this be for running errands in the most efficient way possible? There would practically be no line or no waiting. I had the same thoughts going through my mind about making sure products are accounted for, but with a product like this I feel like the experts would cover that. My concern is towards what stores will actually catch on and implement this new device. Will it primarily be retail/clothing stores, or could it be incorporated into Target, or Macy's? The PayPay Beacon seems to offer a lot in terms of convenience and I am interested to see who will catch on.
  • Sarah Jacobsma on 17 Sep 13
     
    Technology never ceases to amaze me - how convenient for people who hate waiting in line. I agree that there is a HUGE security concern for retailers and consumers. I think there are a lot of issues that need to be addressed on all ends. It will be very interesting to see if this idea catches on or if retailers and consumers will continue shopping as they always have.
  • John Cummings on 19 Sep 13
     
    PayPal was a huge success online and I believe it will be a success in the stores too. I hate to wait in lines and if this shortens lines then I am all in. I agree with Sarah the security issue does worry me and needs to be tested and addressed before actual use. Once the security problems are fixed I firmly believe this with great enhance the customer experience and drive revenues in the retail industry.
Emily Prellwitz

Topshop, New York- Visual Merchandise - 9 views

vmsd.com/topshop-new-york

mk473 customer experience presentation

shared by Emily Prellwitz on 13 Nov 13 - No Cached
  • Emily Prellwitz on 13 Nov 13
     
    Topshop is a European retailer that has a very unique store layout. Do you think it is important for a unique retailer like Topshop to have a unique store layout? Do you think it was a smart move to have the store layout be different than it is in the U.K. or the same?
  • ...3 more comments...
  • meganbos on 14 Nov 13
     
    I think the appeal of Topshop will be the foreign quality in the United States. People will be attracted to the fashion quality and allure of the brand. I think being unique in the market will be attractive to US consumers.
  • Paige Laughlin on 14 Nov 13
     
    I agree with Megan. I think the brand itself will appeal to customers, not just the layout of the store. I think the store layout is very unique from the pictures on the slideshow. It looks like an upscale version of H&M and Forever 21, which definitely appeals to me. I like all the different rooms and the vibrancy of the colors used. I think it screams "cool" and not at all boring, which some stores can be.
  • Lindsey Wacnik on 14 Nov 13
     
    I agree with Paige, I love the idea of the various boutiques throughout the store. This new layout will allow shoppers to not only shop, but have a unique experience doing so. I feel like it will become an attraction rather than just a store, similar to what Ikea stores have become for shoppers.
  • Sarah Wesp on 14 Nov 13
     
    I think Topshop will be about the experience just as much or more than just a place for consumers to shop. With the unique store layout and variety of merchandise varying in price from $20 - $600, I think this will be a unique experience for consumers and become a place they want to shop. Also, I love how all the "rooms" are a little bit different--I think it would make a consumer feel like they were going to multiple little boutiques under one roof.
  • Sarah Jacobsma on 14 Nov 13
     
    One of the components that set unique retailers apart is the store layout and Topshop has done that well in the UK. I have visited the Topshop in Chicago and love the layout. I think it is fun, trendy, and one of the reasons it is successful -- people enjoy the experience. Topshop in the UK has unique store layout -- so why not transfer that same idea to the US in a little bit of a different way? It was smart of them to change the store layout and has seemed to be successful so far.
Sarah Wesp

Holiday 2013: For Once Early Shoppers Get A Deal - Forbes - 5 views

www.forbes.com/...once-early-shoppers-get-a-deal

mk473 people transaction

shared by Sarah Wesp on 19 Nov 13 - No Cached
  • Sarah Wesp on 19 Nov 13
     
    This article explains ways retailers such as Toys-R-Us and K-Mart are using layaway, return policies, and reward programs to get consumers into their stores to ultimately make transactions. Can you think of other retailers who are implementing these types of incentives? Have any of you ever put something on layaway? Do you think these incentives/programs are beneficial for retailers?
  • ...5 more comments...
  • Krista Lawson on 20 Nov 13
     
    I know I personally like to get any of my shopping done early that I can merely to avoid the holiday traffic and craziness that happens. At the same time, I always tend to end up with coupons or even small gift cards when I do shopping that are only valid within that 'prime' holiday shopping season. So, I think those type of programs really work because I always end up coming back to use them even though I had intentions of not shopping during that time. I also think it is interesting to look at retailers offering holiday type sales earlier and earlier in the year. I wonder what the limit will be as each retailer tries to trump the other. I also really like the extended return policy. That is EXTREMELY useful and could definitely be part of a deciding factor for me on who I shop with given that I could get similar products at each place.
  • meganbos on 21 Nov 13
     
    I think for stores and shoppers can benefit from this model. Stores can increase their revenue but shoppers can shop early and have a way to afford a better holiday. It also encourages shoppers to come into the store more frequently and earlier in the season. It will be interesting to see if other stores adopt this model. I surprised Walmart does not have this as an option for some of their larger items.
  • Lina Goens on 21 Nov 13
     
    Like Krista I wonder what the limit will be.. just keeps getting pushed back further and further. I know at J.Crew we just started implementing "holiday return policy". More than anything I think that offering such a guarantee offers a level of comfort to the customer. It makes them feel more confident about the purchase and more likely to buy it. I like the aspect of honoring online prices with store prices - very important.
  • John Cummings on 21 Nov 13
     
    I agree with Lina comment. The extended return policy is a ploy to get consumers in the store, make a purchase and know they have time to return it if they desire. Comfort, ease, and satisfaction for and of the customer will drive business.
  • Paige Laughlin on 21 Nov 13
     
    I can't stand the thought of shopping really early for Christmas. Some of the things this article talked about really shocked me. The part about Walmart rolling out it's holiday shopping in August is not something I would find appealing. I think that takes the Christmas spirit out of Christmas completely. It's always a tradition with my mom to shop in November and December when it is acceptable to think about Christmas! I completely get the idea of budgeting, buying a few gifts here and there, but starting shopping in August? Not for me.
  • Thomas Holmes on 21 Nov 13
     
    I actually really like this idea of offering deals to get people in the store early, it reduces the revenues lost with huge black friday price cuts by offering a more relaxed approach. It also would help the company make sure they don't run out of stock of a certain item. Having more customers in the store before the heavy Christmas shopping starts gives them a view on what will be popular and will help them forecast better and make sure they don't have missed sales opportunities.
  • Carly Foley on 21 Nov 13
     
    I think extending the return policy is good because it allows for someone to use the products as gift for Christmas. I don't know what I think about having sales earlier. If they keep doing this, soon sales for Christmas are going to be six months out of the year then it's going to be all year; I mean how long is too long?
jkayjohn

Pilgrimage, Anyone? Green Mountain Coffee Is Opening a Keurig Store - Businessweek - 3 views

www.businessweek.com/...ffee-is-opening-a-keurig-store

mk473 customer experience businessweek

shared by jkayjohn on 24 Sep 13 - No Cached
  • jkayjohn on 24 Sep 13
     
    Green Mountain Coffee is opening a Keurig Store to hopefully get to know more about their customers and offer on site demos, special promotions, new product offerings, and unique accessories for the Keurig to customers
  • ...2 more comments...
  • jkayjohn on 24 Sep 13
     
    Green Mountain Coffee is opening a Keurig Store to hopefully get to know more about their customers and offer on site demos, special promotions, new product offerings, and unique accessories for the Keurig to customers
  • Lindsey Wacnik on 25 Sep 13
     
    This article was an interesting read that opens up new ideas in regards to gathering insight into consumers. I am very curious to see how successful this store is at obtaining information from consumers. I feel like the Keurig store will receive more foot traffic from consumers who are interested in becoming users instead of those that currently have a Keurig. Those who already own it, and are satisfied will most likely continue to obtain the necessities for the appliance at their normal retailers. The way I see it, the store will be capturing more about potential clients rather than the current users. I am unsure if the cost incurred through opening the Keirig stores will be worth the information they gather.
  • Camille Sampson on 26 Sep 13
     
    This is an interesting strategy for Keurig. Like Lindsey mentioned, it'll be interesting to see how this effects the companies over all sales. Although the venture will provide fantastic PR, the question is whether he gains will outweigh the costs. I agree with Lindsey again though, it is likely that a majority if the visitors will be non-existing customers, of whom will leave with a positive experience and thus opt to buy a Keurig machine of their own. It will also be interesting to see the "accessories" that will be available for sale. These products would appeal to the existing customers, but would also highlight their need to "update" their Keurig models and thus consume more of the brands products. It would be great to see Keurig develop their "eco-friendly" line a bit further. It consists of k-cups that are recycle friendly. Ufortunately these products are quite a bit more expensive, a problem Keurig is already facing; making products more available to a larger demographic.
  • Kara Blakley on 26 Sep 13
     
    This article was fascinating to me! This is another example of how companies who used to be primarily product only or even online only want customer feedback and input. I think the idea is great - to let people use the machine to see how it works and how it can work in their everyday lives. But the location 14 miles outside Boston is a little far away I feel. I hope it is successful - already the outside looks sleek, classy, and expensive and I think the design alone with get people into the door to explore the concept. Since their goal isn't to sell, sell, sell but rather to experience and learn from consumers, I think it will work. But I do agree in this still tight economy, going to your local Walmart or Bed, Bath, and Beyond to buy the same coffee pods is realistic.
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.
Kate King

The loyalty lie | RetailCustomerExperience.com - 6 views

www.retailcustomerexperience.com/...The-loyalty-lie

mk473 customer experience loyalty CRM

shared by Kate King on 25 Sep 13 - No Cached
  • most loyalty programs don't work
  • So, why don't most loyalty schemes work? Research points to several reasons. Loyalty programs are transactional. Loyalty isn't.
  • The best brand/consumer relationships are those that become transformative in the sense that the customer feels somehow better for having done business with the brand. The brand and shopping experience are the loyalty program.
  • rteufel on 25 Sep 13
     
    I agree with the article, that loyalty programs are not working. In my own experience there are only TWO kinds of loylty programs that are working somehow. Firstly, a loyalty program that is introduced by a brand/shop/store that I am already loyal with, e.g. the favourite coffee shop, or the closest supermarket. In those shops a loyalty program might even lead customers to buy more and appreciate it. Secondly, what I think is also working are loyalty programs introduced by a pool of shops. E.g. in Germany we had PayBack for a long time, which was a joint loyalty program that gave you points in almost any major retailer in Germany, so it was used by a lot of people. Noone wants to have 10 or 15 loyalty program plastic cards in their wallet, though...
  • ...2 more comments...
  • Angelo Csuti on 25 Sep 13
     
    The article is totally right! I worked for a year at a gas station next to my studies and we had these 'puy 9 coffees, get the 10th for free' cards, which we wanted to hand out to all taxi drivers, to make them visit our gas station frequently. Every second driver refused to take a card, when I offered them, because of the huge amount of other loyalty cards in its wallet (as Raphael already pointed out). Furthermore, I saw that we also have those cards for drinks at the HRC Store and I never took one, because I simply consider the drinks as too expensive to buy a dozen of them, just to get one for free!
  • Kyle Werner on 26 Sep 13
     
    This is a great article! It's very similar to a costco card or a sam's club membership. The only way a loyalty card like this would work is if the company had prices that beat juggernauts such as walmart or target. Most people on campus do have costco cards, so whether it's the Costco food or the ability to buy literally almost anything at the store, Costco seems to have found the solution.
  • Brock Naylor on 26 Sep 13
     
    I believe one of the largest reasons why loyalty is such an obstacle in today's markets is primarily due to fast paced, innovative society that we live in now. Consumers are becoming so oriented to 'the next big thing' that it is increasingly difficult for businesses to keep up with this rapid changing of trends, especially considering the small window a product has before it is one-upped.
  • Krista Lawson on 26 Sep 13
     
    I thought this was interesting to read as I myself have several loyalty cards to various places. I never put much thought into it, but after this article it really emphasizes the fact that I. Not really loyal to the brand as much as e transactional benefits. Given an alternate and similar option at a better price I would probably jump ship from those I support now to something different. It may not create the sincere loyalty, but it has worked in keeping me to returning to certain places for the transactional benefits, so it doesn't seem like a total failure.
Lindsey Wacnik

Staples tracks on digital signage to tackle omnichannel - 2 views

www.digitalsignagetoday.com/...ge-to-tackle-omnichannel-Video

mk473 omni

shared by Lindsey Wacnik on 05 Oct 13 - No Cached
  • Lindsey Wacnik on 05 Oct 13
     
    This article discusses Staples incorporation of interactive kiosks and digital signage into their stores to help be more efficient with their square footage. They are trying to give customers "access to endless aisle shopping and ordering capabilities." Do you think shoppers will be disappointed by the limited amount of options on hand or will the ability to order more items in-store outweigh the limited selection?
  • ...3 more comments...
  • Carly Foley on 06 Oct 13
     
    Isn't this just like what Kohl's has, just for office supply? I think it is a good idea and I have used the one at Kohl's many times. It make shopping more convenient, especially when it is busy. It is annoying sometimes that they don't have on hand the one thing you need now, but in those instances you might go somewhere else and pay more to get it now.
  • Lina Goens on 07 Oct 13
     
    I think the ability to order more items in-store will outweigh the limited selection. At times it can be difficult to find the exact product you need because the labels look the same, but now you can search on the computer/Ipad and find exactly what you need. It sounds like a great convenience as Carly mentioned, and I think it sounds like a great idea. It can take some stress off of employees because people can refer back to the computer as an alternative option.
  • Sarah Wesp on 08 Oct 13
     
    Going off of what Lina said, this will make it much easier for consumers to find the exact products they're looking for. It can often be intimidating when walking into a store like Staples or Kohl's when you are trying to look for something specific, so I think these kiosks will give consumers the opportunity to find what they want more efficiently. Also, I could see where some shoppers may be disappointed because of the limited selection, but I think overall, the ability to order more items in-store will outweigh the limited selection.
  • Brock Naylor on 08 Oct 13
     
    The digital kiosk idea can be great, but only if it works effectively. In my experience, I tried using Targets kiosks that they started using to pull up a registry for a wedding. However, the system wouldn't allow me access to the registry, and even after an employee tried helping me, we both just kind of gave up. This is just one example how technology if used improperly can do more to hinder a consumer's experience than help.
  • Sarah Jacobsma on 08 Oct 13
     
    I am not sure how I feel about Staples new plan to offer a limited selection in-store. If this is more for small items that there are many types of -- it is helpful and takes away the frustration of searching for a specific item among many alike items -- but why would we go into the store when we can just order it online? Going off Lina -- sometimes the reason people go into stores is to get the item there and then . . . this makes me think will ordering it in store be more of a hassle than a convenience? I think it will be interesting to see how consumers react to this new shopping experience. . I think it is a good way to incorporate online and in-store shopping but I think that this may just drive consumers to shop online and stray away from going into the store.
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.
Kate King

Finish Line Launches into Mobile POS | Retail Best Practices | RIS News: Business/Techn... - 6 views

risnews.edgl.com/-Launches-into-Mobile-POS86366

mk473 Finish Line

shared by Kate King on 08 Oct 13 - No Cached
  • Lindsey Wacnik on 10 Oct 13
     
    Finish Line is has jumped on the trend that I think will ultimately be a benefit them, mobile check out. It takes the hassle of lines out of shopping, and like I commented on a different post, the less time you spend in line the more time you spend looking around the store. More time shopping will equal more products purchased.
  • ...6 more comments...
  • Krista Lawson on 10 Oct 13
     
    I think that Finish Line is going to benefit highly from being able to do mobile transactions, especially during the holiday season. This will be able to help them eliminating lines and making for a better overall customer experience. I think it may take some consumers a while to become accustomed to, but overall I feel like that is where technology is bringing us in the retail world and it can only help the customer experience.
  • alipaigeh on 10 Oct 13
     
    It is clear that more retailers are moving towards mobile POS systems, and it is interesting to imagine stores without cash registers. Nonetheless, most consumers can't stand the idea of sitting in line when all they want to do is pay once they've chosen the item or items they want. And not only are there problems with long lines, but there are also problems with not being able to find someone to help you when you need it. I think retailers switching to the mobile POS system is an advantage because they can interact more with the customers, while having the ability of being a portable checkout. The convenience of the mobile POS system allows the sales rep to converse and inform the customer of the product they are looking at, and shortens the decision to buy time since the sales rep can swipe the customers card immediately once the customer decides to buy.
  • jkayjohn on 10 Oct 13
     
    I think this is a genius idea. I hate going into finish line and waiting in line for ages because of how crowded the place always is. Giving the attendance the ability to do mobile transactions with decrease the clutter of people in the stores who can get in and out quickly and make the experience much more enjoyable!
  • Emily Prellwitz on 10 Oct 13
     
    I can see why Finish Line is moving in this direction because a lot of the retail industry is following suit. I think the combination of technology and good customer service is a great thing to have in the retail industry but only if the customer service is solid as well. I am a little skeptical about Finish Line doing this only because when I go into tennis shoe stores which is what Finish Line's main product is, I like to talk to someone with a lot of knowledge on the product. I like getting an expert's opinion on running shoes because they are all made so differently.
  • Brock Naylor on 10 Oct 13
     
    I feel like the next logical step for finish line would be to offer an array of customization options on a mobile application due to the trend in which people like to individualize their shoes. Prior to this, you would have to buy a personalized product directly from the manufacturer based on the options that they allowed, and were often times much costlier than they might have been otherwise. By acting as a third party on behalf of this order, Finish Line not only provides a channel to its consumers for these customization options, but gives manufacturers more exposure to this application than they had prior. Its a win-win.
  • Angelo Csuti on 10 Oct 13
     
    I agree, it is important to be innovative and develop more ways of approaching the customer. However, in the end it is also important to be distinctive in other disciplines like direct customer service or outstanding product quality and design. When I went into a Finish Line store the first time in my life yesterday, I didnt really see much differences in products or design in comparison to European Stores or Foot Locker.
  • Carly Foley on 10 Oct 13
     
    I agree with Brock. Nike has their own customization, I think now its time for the store to start doing that. I think this would improve sales because when I got my shoes I went to Nike's site so I could customize the shoes to how I wanted since it was only like $10 more to have them exactly how I wanted them.
  • meganbos on 10 Oct 13
     
    This is really cool what they are doing! I'm curious as to if they had a issue with lines in their stores or if they are working on simply improving customer service.
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