Marketing Communications 1) How does marketing communications contribute to building a successful brand? 2) How does what you learned this week connect with other courses or other experiences in your life? 1)Marketing communications contribute to building a successful brand by advertising, direct marketing, and personal selling. When advertising it is helping your company become known. Direct marketing will help get right to your target market and will make it clear for an immediate response. Finally personal selling is will allow you to be more personal with your buyers and have a connection. This will help due to the fact that most people will be more brand loyal if they have a personal connection with the people they are buying from. 2)This week I learned how to properly communicate with my peers, teachers and customers at work. I also learned that being more personal with customers will help you make them more brand loyal because they will have a good connection with y
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Blog Topic #8
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Blog Topic #8 Pricing A recent purchase I made was a pair of leggings from Lululemon. The cost of them were $138 with tax. When I am purchasing leggings from Lululemon I don't often worry about the price too much just because I already know that all of their products are such good quality that you are paying for what you are getting. Having a pricing strategy for your company is very important because it will be able to let your customers know if you have a higher price range or a lower price range. In chapter 9 I learned that you really need to focus on your company having a price range because if customers are coming into your store with maybe a lower income and your products are selling at a higher price range then your store might not be the right one for them. If they are coming into your store and not having a clue whether you are selling clothing for $100 opposed to $20 you might need to consider having a different marketing strategy or promoting strategy to be able to te
Blog Topic #7
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Blog Topic #7 Retailing & Wholesaling Identify a retailer that is struggling. Describe what is going wrong and how you could adjust the retailing mix to help move them towards profitability. A retailer that is extremely going down hill is Sears. Sears has been struggling for a few years now. They used to be known for their hardware, for example washers and dryers. Now they have expanded and are trying to be the ultimate store by having everything from shoes, clothes, makeup, microwaves, bedding ect. Due to Sears having such a broad range of products, they have been failing tragically and are now starting to go out of business. To be able to get back in business they would need to focus down on one department and take some of their products that they are selling, out. I believe that doing this would help them get back into business because then it would give people a sense of what their store specializes in and wont have random things all over the store. Sears should also have a
Blog Topic #5
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Product & Brands What is your favourite brand? Why? My favourite brand is Lululemon due to the quality of their clothing. In my opinion their leggings are one of their best products. They are made of 86% nylon and 14% lycra (Luon). Luon has been tade marked by Lululemon since it is was their pants as well as some of their other products are made of. Their fabric is already preshrunk, they are stretchy as well as warm. They are also great for working out because they absorb sweat but are also great for everyday wear. Lululemon products are on the more expensive side but you are paying for what you get and the quality of their products are amazing.
Blog #2
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Based on my understanding of the Consumer Decision Process, what influences me the most is the information search: seeking value, also known as internal search or external search depending on the product. This influences me the most because it is important to do your research before actually buying a product no matter what it is. Internal search is for simple products, for example, shampoo or conditioner. Whereas external is if you do not know too much about the product and you need to find out more information. Many people just go out and buy products without doing research of what they are buying. With external search if you lack knowledge about the product, the risk of making a bad decision is high, but they cost to get the information is low. Finding out information is important because if you are willing to buy something you need to make sure that it meets your needs/standards. If you do not do research on a product that you are buying you have the risk of being unhappy with it.
Blog #1
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In this course I would like to improve some of my skills, for example talking in front of a group of people as well as being able to be comfortable while being in front of people. I would also like to be able to properly market a product to someone, using the right colours and being able to present it thoroughly. I think the three most important things you can do in this program is show up to class and pay attention, always put your best effort into the work that you are doing while handing things in on time and finally I think to ask questions so that you are able to understand what is to be done in class so that you can do it properly. The most important thing I have learned in the past two weeks have been to make sure that you are being specific with your target audience, instead of saying "seniors" state an age group, for example, 65 and up. I think that this is important because many people have different thoughts of how old a senior is which could make it hard to targe