3/21/12

This week I felt the importance rested on the three main functions of the marketing channels, which are:
o Specialization and Division of Labor
o Overcoming Discrepancies
o Contact Efficiency

3/14/12

Spring Break - No Class

3/7/12

I thought it was interesting this week that we talked about the definition of a new product. It is not necessarily a newly created product, but can be any of the following:

• New-to-the-world products
• New product lines
• Additions to existing product
• Improvements or revisions of existing products
• Repositioned products
• Lower-priced products

2/29/12

Midterms - No Class

2/22/12

I thought the information regarding specialty products was very interesting. I've realized that most high end products don't require much advertising, but I have never thought of companies being selective about their marketing. They are also very selective on who they distribute their product to. I always thought it was a lack of need not to advertise, not that they were purposely selective.

2/15/12

One of the things that caught my eye this week was regarding asking open ended questions. I interview candidates all day for my job and this is one of the most effective ways of getting the information you need. If you ask simple yes/no questions, you get very little detail. However if you ask open ended questions, sometimes the person answering the questions gives you details that they did not intend on.

2/8/12

This week was about segmenting and targeting markets. It was very interesting to learn about positioning, which is a way to influence consumers perception of a product or brand. It is how you emphasize important features or ingredients. I think this is an area where some companies really lack. I have used great products, that I just stumbled upon rather than was urged to buy through marketing.