MRI plus a data base that was though in my marketing 353 class help us create a project where you can see the likely hood of people consuming a certain product in comparison to other brands as well as it shows the percentage of people that already consume this product. For example we used 5 hour energy drink as a comparison product to Redbull and monster and we found the demographics are different according to MRI Plus it was. One the demographics are determent you can see where there is room for business.
In my Information Technology Marketing class we talked about forecasting. We discuss an article by John C. Chamber, Satinder K. Mullick, and Donald D. Smith title How to Choose The Right Forecasting Technique. Through the article many techniques are expose as well as the benefits and precision of each individual technique. Some can get really expensive and take months too developed and some can be inexpensive and can be developed pretty quickly in a week or so. As we got more involved in this topic we learned how important it is to predict what’s ahead of us an in which direction to move. Of course nothing is certain about the future, but using past and present information is crucial in forecasting. Taking what we have in hand in terms of information and money to best select a model is a way to start when calculating future numbers and positions of the business. After reading the article something came to my head. The picture of a man walking through a dark ally in a foreign country for the first time with a lamp in his hand to better see what’s ahead. The article and the class discussion help me understand the benefits of each model.
In an article I read by E. Raymond Corey called Note on Breaking-even Analysis in Marketing. The article defines break-even as the technique for weighting the risk of potential benefits of a potential investment, price change, or distribution or simply doing nothing doing nothing in response to competitors movements. The article provided an example in terms of a business scenario quite simple, but really helpful in terms of understanding. A company had to figure out the quantity of items sold to recoup the investment as describe in the definition. After reading the article what came to mind was catching a wave it gave me a similar feeling in terms of how break even analysis was describe. I when back to how the article define Break Even Analysis in catching a wave you don’t just go for any wave, you weight out many factors the risk the benefits of potentially riding the wave or just like the definition states simply doing nothing in response to competitors moves. After I realize that the definition made sense I took a look at the diagram that the article provided as well as a diagram of a wave both switch concavity at a certain point. In surf the time what I like to call the dead point where you have to even out the force pulling you back to the speed of your paddle. The article talked about not being in business for the break-even but to make money and I in surfing I see that as the drop, the gliding and ridding now becomes you manage the benefits of the risk.
Benefits of Social Media
At first I did not have a solid Idea of how much influence Social Media can have. I always had seen ads on my Facebook but never really question how this can be created if I own a business or doing it for another company. Thanks to my Information Technology Marketing class I was able to do one for myself seeking an Internship. On the arrow down menu I click the create add menus and a three step page load up and all I did was to follow them.
For twitter what I found interested was twitter ads and being able to set up a camping one you click on ads a set up a campaign you will be able to see the activity of the campaign you dad launches very interested.
What I like about linked is the professionalism of the social interaction, is great and very helpful when contacting someone about business mater. The Social Media that I like the best is Word-press where I can express myself in blog posts about certain topics.
Have you ever been so caught up in live play or concert that you never think about what’s going on behind the stage maybe because you want to be part of it or you immediately related to it? In marketing selling an idea via commercials, billboards, slogans or online website is the same; the question is how to measure its success?
For example, websites how can traffic be created and how can it be measure.?A good way to start would be with Google Ad words and SEO (search engine optimization) describing your product in words that are popular for your service or product. This will create more brand awareness when someone searches for a certain product category. Once your product/service link is on the screen it will only require a click to get closer to viewing what you have to offer and that’s the job of the front page of your website. The client now views the website, at this point you want to retain them and eventually want them to be part of your story and they probably will if they feel connected. Opening an account with Google Analytic’s will describe all the movement in your website for instance how many people viewed the page, how long they stayed, what they click on and whether they purchase or not.
In marketing one of the most important assignments is to measure money and time spend in a campaign. In a live play or concert, work and technology put in behind cannot be seeing directly by the customer, just like a like the example of the website the tracking number cannot be seen by the customer. In a play or concert the customer will naturally watch the live play or concert like nothing else is going on. In marketing the customer will view the website like nothing else is going, but remember that behind the scenes the number will determine whether a campaign is successful or not.