Marketing Quotes

1. A strategic error can threaten a firm's survival. (Page 14)
2. A product development strategy entails the creation of new products for present markets. (Page 16)
3. By specifying objectives and defining the actions required to attain them, you can provide in a marketing plan the basis by which actual and expected performance can be compared. (Page 20)
4. A new-product strategy links the new-product development process with the objectives of the marketing department, the business unit, and the corporation. (Page 193)
5. The Internet is a useful tool for implementing simultaneous product development. (Page 197)
6. Despite the amount of time and money spent on developing and testing new products, a large proportion of new product introductions fail. (Page 199)
7. A relative product failure results when the product returns a profit but fails to achieve sales, profit, or market share goals. (Page 199)
8. An innovation is a product perceived as new by a potential adopter. (Page 200)
9.  Retailing affects all people directly or indirectly. (Page 258)
10. First, marketers must realize that they often do not control the content on social media sites. (Page 336)
11. Customer-centric companies continually learn ways to enhance their product and service offerings. (Page 321)
12. Initial groundwork must precede communication between the potential buyer and the salesperson. (Page 322)
13. Price plays two roles in the evaluation of product alternatives: as a measure of sacrifice and as an information cue. To some degree, these are two opposing effects. (Page 357)
14. The price they set for each product depends mostly on two factors: the demand for the good or service and the cost to the seller for that good or service. (Page 361)
15. Relationship selling, or consultative selling, is a multistage process that emphasizes personalization and empathy as key ingredients in identifying prospects and developing them as long-term, satisfied customers. (Page 319)

Week 10 EOC: Benefit vs Features

What are the benefits vs the features for your product? One of the biggest factor from my product is being able to enjoy a snack that is tasty and affordable. Think about a handful of treats that include chocolaty goods in the mix along with peanuts, dried bananas, apricots, and much more. So you get the same experience of enjoying a trail mix from a brand that is not as costly and contains less calories than those brand names.For the most part, chocolate IS chocolate, that’s just how it is. The trick with creating chocolate products is of course trying to make and create a new feel and twist on such a classic product that has been around since forever. A key to making a new twist and feel is definitely knowing how to make the best of what you have and what you can work with.“A market-oriented firm defines its business in terms of the benefits its customers seek” (Pg. 10). “A competitive advantage is a set of unique features of a company and its products” (Pg. 23). Features of course depends on whether or not you have a product or a service.

Week 9 EOC: Social Media

Social media plays a big part especially when it comes to marketing. It is important to know how to market your product, and know how to reach your marketing target. This is why social media plays a big factor. For us in the audio world I can't think of anything better than reaching our audience through the medias of television or radio. I say this because we all listening to the  radio weather on the way to work, school, home, or other destinations. The other option would be to get our product out on a television commercial.“What exactly are social media? They are Web-based and mobile technologies that allow the creation and exchange of user-generated content.” (MKTG pg 51) With almost everyone on the face of the planet being on one form or another of technology, there are also this many people who are on at least one form of social media or more. This being said, utilizing one of the most frequented and popular social media sites, Facebook, will of course be a no-brainer. “The Internet and the widespread use of social media have accelerated the shift in power from manufacturers and retailers to consumers and business users.”“What exactly are social media? They are Web-based and mobile technologies that allow the creation and exchange of user-generated content.” (MKTG pg 51)

Week 6 EOC: Me x 3

Three of the few things that make me unique and stand out would be, that I have a unique talent of picking up any instrument and being able to learn to play it fast. I own a lot of instruments and equipment to pretty much make my own band. I am also that fun easy going person that just goes with the flow. People are always wanting to be around me to be able to catch that positive vibe, though too much negativity can cause me to drain out. Even though it would sound like a joke or something that is made up but trying to keep everyone on the same page and happy, takes a lot of energy even more so when dealing with numbers of people at my work environment. One thing that helps me get away or just redirect my mind is music. I believe that it helps me escape the reality even if for only a split second but every second counts. The third thing would be that i am patient and enjoy being more around kids and animals than interact with other people. Like mentioned i am an easy going person that is if I am not in an angry or a bad mood. I would hate to be on the flip side since it has been known to get out of hand only but a few times. No matter how mad or upset one can be there is always something that can put him/her in a better state of mind.

Week 5 EOC: What has my interest

In our current world today, a lot of things change over time like technology and fashion trends. meaning anything from foot wear, hairstyle, to phones and other gadgets. Along with that, all of the technology that is going to help us move forward like our audio equipment.. In order to innovate our sound we start with the equipment. My main focus when I first decided to go to A.I. was to learn more about live sound which I had been doing for a while. I learned about recording, and even production in video, in which I had no idea how much work and was equipment was involved. Now a days new things are emerging like when the blue-tooth speakers came out, and a lot of the phone gadgets went wireless. We even started seeing them come out with watches that you use to manipulate your phone without having to actually touch your phone. Some of these improvements i am really looking forward to. In the audio world we see more things getting released more so often. I remember when the first digital mixers came out everyone thought it was gonna be such a great new hit everyone would want one. Although the digital mixers are amazing, along with a lot of people I still believe that analog boards are our top preference. One of the things that i find extremely awesome is the glasses that let you see everything in 4-D. Though they do appear on the heavy side, it still makes the idea of viewing everything in a whole new way much cooler.

Week 1 EOC: My Voice

The name is Melchor Vargas, but go by just Mel. I am a born and raised in the city of Las Vegas, NV when Vegas was still young. I have bounced around in a couple career paths but have decided to stay with audio production. I am a very fun and easy going person who gets along with everyone, and can handle working in almost environments. I went to Votech HS, now known as S.E.C.T.A. in the automotive program. Continued that after high school a couple of years at CSN. Now I am currently an undergraduate at the Art Institute of Las Vegas. I have been in and around the music industry since 2005, with bands here and there. I am currently involved with two; P.O.P. (Prince of Peace) a catholic rock band and Hnos. Torres (Hermanos Torres) Mexican band. In my family i am a 3rd generation musician. I can read music as well as play drums, bass, piano, guitar, and saxophone. I have worked at various locations and many different fields like restaurants, warehouses, and now Casinos. I work at Red Rock Resort and Spa, in the banquet department where we are in charge of setups for conferences, meetings, and social gatherings. In my path through Ai I have learned a lot of new things that have helped with making me better at my profession. After I graduate I plan of getting a second degree in either DFVP or Media Arts.

Week 3 EOC Demogracphics

As our demographics grow and change during time, so do our marketing strategies. 2 ways that the media always tries to reach out is either through Radio Broadcasting, or Television. Now a days, Social Media plays a huge role in modern advertising. Latinos in the U.S. make up about 16% of the population. With this being said beer advertisement is becoming a very popular thing. Me as a young Latino male I do notice them a lot. It can be anything really from a regular commercial or walking into a store, but mainly big events. I am a musician and participate at a lot of venues one thing they always announce is the products. What people don't realize is how much it actually affects an event, most earnings have little to do with entree fees, but rather with consuming profits. Me and my family watch a lot of sport events like soccer world cup, league games, or football season, and most of the sponsers have to do with alcoholic beverages "ITS MILLER TIME", soft drinks "Coca-Cola - OPEN HAPPINESS", and sport drinks "Gatorade - IS IT IN YOU". I guess it all really comes down to how you see certain things and what reaches out to you personally. Regardless of what it is that is being advertised,this is why I believe that it is very important to reach out to a large population.

Week 3 EOC Money For Good

There are a number of companies out there that give back other than just worrying about growth and profits. Like Toms Shoes where when you purchase a pair of shoes, they will donate a pair to people with the need of a pair of shoes. I feel that customers prefer situations like this because they can help out in a way that doesn't require too much effort. I also think that a company that is wiling to give back shows that they care more for their consumers. Here is a couple of other companies that give back when you purchase a product of some kind. Yoobi sells colorful school and office supplies, and donates the same number of supplies purchased to U.S. schools in need, for every winter clothing item purchased from Twice as Warm, one is donated to a local shelter, for each ball purchased from the One World Play Project, a ball will be given to disadvantaged youth in communities worldwide, BoGo Bowl sells a wide variety of dog food, and donates a bag to animal shelters for each bag purchased. I always like when you are able to help out and expect nothing in return, but that is just my personal opinion. Lets make a small act of goodness go a long way by supporting a cause.

Week 2 EOC Video Games

When it comes to video games and consoles only a handful of names appear over and over. Thus including: Sony, Microsoft, and Nintendo. Though the future of video games keep growing, the industry is starting to make financial cuts. I believe that Nintendo falls into the Dog category of the BCG. I say this because Nintendo has been around for a long time, and has not been as expensive as either Microsoft or Sony. Nintendo has said it won't cut prices on its $250 Wii this year, it is expected to do so indirectly by bundling games with the console. The Sony PlayStation falls under the Stars category, because it has been one of the top game systems. Though it is popular Sony is expected to cut the price on its PS3 by about $100 this year trying to get more customers. The Microsoft Xbox is also growing very rapidly and is not as pricey as any of the other gaming products. The Xbox is not looking to make a cut on its system which is at about $300 now. In overall I believe that ever since Mobile games have started developing for both Android and I phones they have taken quite a turn, making all the previous systems look like they are going down in market. Some people like myself only follow up with the technology so much, and just choose to stay with what we have now.