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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"
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.
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.
Kate King

STORES Magazine - August 2013 - 18 - 11 views

www.nxtbook.com/...index.php

mk473 strategy

shared by Kate King on 03 Sep 13 - No Cached
  • Kate King on 03 Sep 13
     
    The "HOT" 100 retailers (Special section p. s4 - s19)
Kate King

STORES Magazine - July 2013 - 18 - 7 views

www.nxtbook.com/...index.php

MK473 intro to retail strategy

shared by Kate King on 03 Sep 13 - No Cached
  • Kate King on 03 Sep 13
     
    Special section devoted to profiling the top 100 retailers in the U.S. (p. s4 - s15)
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.
Kate King

History-of-US-Retailing.pdf - 9 views

www.smyyth.com/...History-of-US-Retailing.pdf

history of retail intro to retail mk473

shared by Kate King on 01 Sep 13 - No Cached
  • Kate King on 01 Sep 13
     
    Good overview of the evolution of retailing in the US
  • Lindsey Wacnik on 03 Sep 13
     
    It is amazing to see the progression of retailing over the years, and is even more interesting to see how much more it will be changing in the future. I had never heard of shopping through "flash sales" until this summer, but I think it has quite the appeal for those on the go who want high end products at a lower price. I have seen a number of TV advertisements for HauteLook, and I am interested to see if it will be a source of shopping that will be used by my friends and classmates even in this next year. This is an interesting concept that I look forward to learning more about, and I am interested in hearing reviews about this new way of shopping if anyone in the class has used it!
Teresa Williams

The Store is Everywhere - BoF - The Business of Fashion - 12 views

www.businessoffashion.com/...obs-the-fancy-joe-einhorn.html

shared by Teresa Williams on 27 Aug 13 - No Cached
  • fast-approaching future of "everywhere computing" and the implications for retailers.
  • the “post-PC era.
  • Facebook announced that, for the first time, it had more active mobile users (680 million) than desktop users.
  • ...2 more annotations...
  • global mobile traffic as a proportion of total Internet traffic recently surpassed 15 percent and is ramping at a rate of 1.5 times per year.
    • Teresa Williams
      Teresa Williams on 28 Aug 13
       
      This reminds me of the old catalog showrooms (ex: Service Merchandise). Unfortunately, their displays were not "showpieces," and the concept died.
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