Week 4 EOC: Understanding Consumer and Business Buyer Behavior

When it comes to Marketing to Businesses, and Marketing to Consumers there are many similarities and differences.

One factor that makes Marketing to Businesses and Marketing to Consumers similar is both factors make tedious decisions before purchasing an item, both Businesses and consumers want to make the right decision before spending, hard earned money. “An average consumer buying a refrigerator might do a little online research and then pop out to the local Best buy to compare models before buying one. In contrast, buying a batch of jet engines involves a tortuously long buying process, dozen or even hundreds of decision makers from all levels of the buying organization, and layer upon layer of subtle and not-so-subtle buying influences” Page 158.

A major difference is the mindset of Businesses and Consumers; Consumers want to purchase items according to the way the product appeals to them, while the business side makes multiple decisions when buying. Such as, if the product they have, will be bought by consumers.

Buying for a business is not the same, as when a consumer buys. “Business customer buying decisions are made within the framework of a strategic, problem-solving partnership” Page 158. Businesses will be manufacturing the products, which will soon be sold to consumers. Takes more of a strategic planning in the marketing process. When trying to gain buyers many factors come into play, such as building partnerships, and always keeping the customers satisfied, so they remain loyal to the products and brand. “Finally, business markets have more fluctuating demand. The demand for many business goods and services tends to change more and more quickly than the demand for consumer goods and services does. A small percentage increase in consumer demand can cause large increases in business demand.” Page 158.

Week 3 EOC: Making Money for Good

MAC Cosmetics products are sold to consumers worldwide, designed for professionals in the beauty and fashion industry who depend on heavy cosmetics, cake makeup and stage makeup to produce the visual effects needed to resist against bright lighting during photo shoots. 

The M.A.C AIDS Funds task is to help people of all ages, all races and all sexes affected by HIV and AIDS. M.A.C. AIDS Fund joins with the “bold, visionary and the brave who confront the epidemic in countries and communities where people are most neglected, off the radar and at highest risk”. MAF funds concentrates mainly on the most “marginalized, stigmatized and under-heard victims”. MAF honors “humanity, life, creativity and individuality”. Making a change, one VIVA GLAM lipstick at a time.

Week 3 EOC: My Demographics

Millennial

·      Born between 1977 and 2000

·      Tweens (aged 9–12), teens (13–18), and young adults (19–32).

·      With total purchasing power of more than $733 billion, the Millennial make up a huge and attractive market.

·      Fluency and comfort with digital technology

·      First generation to grow up in a world filled with computers, cell phones, satellite TV, iPods, and online social networks.

·      “All generations are comfortable with technology, but this is the generation that’s been formed by technology,” says a Yahoo! Executive. For them, “it’s not something separate. It’s just something they do.”

Millennial applies to my life, because it is 100% true. The millennial generation has been tackling the workforce, by becoming attuned with their inner butterfly and exploring as many career options as they can. We find jobs that offer better pay, or either will help us in our career path. “The fast-track has lost much of its appeal for Generation Y who is willing to trade high pay for fewer billable hours, flexible schedules and a better work/life balance. While older generations may view this attitude as narcissistic or lacking commitment, discipline and drive.”

Generation Y is the first generation that grew up with computers, cell phones, satellites, iPods, iPhones, and social networking “It goes beyond just smart phones obsession – Gen Y loves being digitally connected too. Two-Thirds of respondents said they spend just as much or more time socializing with friend online than they do in person. Women seem to prefer online interaction compared to men, but not by much: 38% of men spend more time in-person than online, verses 29% of women” Some people see generation Y as the generation that “destroyed all good”. “They always want more… They’re not grateful… You offer something and it becomes an expectation. There a real sense of – well, an entitlement” As a Millennial I disagree, we are not ungrateful I believe we just challenge each other to see what more can we achieve, see what other social networks can we create that do more then other websites.

Week 2 EOC: Boston Consulting Group - Video Games

The PS3 has successfully landed itself in the cash cow category. Play Station 3 plans on going much further then it has already gone by, putting in the Blue-ray format, and Sony has mentioned bringing streaming to the PS4. Surprising the Play station 3system has been fortunate enough to be more of a sensation then the Xbox 360.

“The PS3 has taken a step beyond the typical range of video game consoles to offer full compatibility with the popular Blu-ray format while also enhancing its online capabilities. In other words, the PS3, with its online capabilities and excellent gaming features, is capable of serving as the anchor for any entertainment center.”

http://video-game-consoles-reviews.toptenreviews.com/ps3-review.html

It is no secret that mobile games developers have been killing it the past few years. Mobile games are more accessible for the every day people who are constantly on the go, and would like to release some built up steam by killing a few zombies before they have to dive back into their workload.

“The rapid spread of smart phones and tablet computers over the past few years, coupled with faster cellular-network speeds, is changing the business model for games played on mobile devices. Instead of selling apps as a one-time purchase, a new global audience has enabled the rise of "fermium" games—titles that are free to download with options to make in-game purchases for new weapons or other virtual goods.” http://online.wsj.com/article/SB10001424052702303410404577463990080511160.html

Week 1 EOC: Great Costomer Service

As I was shopping in Georgetown one summer day, I stumbled upon a store called Annie Creamcheese, (vintage designer store). As soon, as I stepped through the door I immediately locked eyes on a beautiful gold vintage Chanel necklace it was an instant love at first sight. A young lady who happened to work there saw the glow in my eyes and we hit it off instantly, she showed me all the new shipments of Versace, Chanel, Fendi, and etc. I honestly felt like I was in heaven, she personally introduced me to EVERYTHING, and helped me pick out earrings and outfits; she catered to my every need and definitely made a lot of commission from me that day.

“They’ve focused on customer service and haven’t allowed themselves to be distracted by other things,” says an online retailing expert. In a down economy, retailers especially should be focusing on customer service. But as Hsieh points out, it’s often the first thing to go. “The payoff for great customer service might be a year or two down the line. And the payoff for having a great company culture might be three or four years down the line.”  (1 Marketing Creating and Capturing Customer Value: Page, 4)

Week 1 EOC: My Voice

My love for fashion started when I first held a Vogue magazine. It was an instant connection, as many would call it “love at first sight”, I stayed up gazing into the pictures everyday and every night, treating it like it was a winning lottery ticket. Until, one day I woke up with an idea and wrote it down, then immediately came up with the idea of become a stylist.

Immediately anyone I came in contact with would became my muse, once I started styling I would treat it as if the person was going to an fashion week event, or the Grammy’s. When in a reality they were just going to CVS.

I wanted to be able to give females like myself a chance to be fly, chic, posh and also to give everyone a little taste of my style, instead of traveling to New York, California, Tokyo, Asia I would be able to bring that all to you.

Being an professional stylist, draping people in Chanel, Fendi, Louis Vuitton, Dolce & Gabbana, Versace, Prada, Dior, Giuseppe, Escada, Balenciaga, Alexander Wang, Celine gives me an unexplainable happiness. Being able to tell people to “leave me the hell alone” or to just show my softer side all by what I wear. “Fashion says: Me too… Style says: Only me”