Week 7 Reading Reflection

1.  What surprised me the most is that there is a segment that for nongeographic and is based on customer's purchasing history. 

2. I don't understand why the criteria for classification mentioned in the first sentence are not important in marketing strategy?

3. Would you agree that where people live influence certain purchasing habits? What age group runs the market today?

4. As I said in two, I do not agree that these factors are not important.  I believe that where you live and the people around you influence your purchases.  For instance if you live in a neighborhood where people go fishing often, you will probably buy a fishing pole too.  It's similar to trends in school.  I remember when I was in high school, all the cool kids had camel packs (water bottles), and I wanted one to fit in (I never got one though).

Free Money

In this video I talked to three girl scouts.  It started off with two, but  another girl scout that was shy joined in the conversation.

I'll also add that I received the parents permission to record the video and to ask them a few questions.

Where will yo go?

I do not have five one dollar bills on me and I need to get groceries so I figure I will conduct my experiment at Publix. 

What kind of people will you approach? 

  Customers at Publix, most likely between the ages of 20-30.

What will you say to get the conversation started?

To start the conversation I will introduce myself and ask them for their names.  I might ask a question or a riddle and if they get it right they get a dollar

What is your plan for the Conversation

To ask them a question or a riddle.

Out of my attempts how many dollar bills will I give away?

I'll probably give away $2.00

Reflection

My predictions were some what correct.  I did ask questions and I did meet people at Publix, but I was able to give away $5.00.  I did not interview adults in their 20s to 30s, I had one conversation with three girl scouts whose ages ranged from 8-11 (I believe). 

Originally, I wasn't sure who I was going to approach and I was really nervous about giving random people money, mostly I was afraid of their potential response.  In the beginning I didn't think I was going to interview three kids, I thought I was going to find adults in their 20-30s.   When I got to Publix there were girl scouts selling cookies by the entrance, I thought this would be a perfect opportunity.  Not only would the money I was giving them go to their troop but I would also be supporting young entrepreneurs.  I was so happy that I got to meet these three young business women!  In exchange for the money I had them answer two questions about their troop and the product they were selling.  They truly enjoyed being asked questions about their cause and to see their faces light up when I gave them the $5.00 was well worth the nerves going in. 

Elevator Pitch No. 2

Elevator Pitch No. 2

My last elevator pitch went pretty well and people commented that they thought my product was a good idea.  This time around I tried to shorten my pitch from 2 minutes to 1 minute.  There really wasn't much that I needed to change based on feedback, rather I set a goal of shortening my speech and implementing more ways to involve my audience (asking a question, make them think).

Week 6 Reading Reflection

Week 6 Reading Reflection

1) The part that stood out to me was the importance and reasoning behind strategy.  Strategy is key in keeping a company both competitive and developing.
2) There really wasn't anything that was confusing for me.  If one thing I would say I had to reread some sentences a few times over because of how they worded it.
3) Do web based businesses cause more pressure on those with a physical location?  What do you believe is the most impactful force out of the five?
4) I believe that he is missing a few factors in his model.  Today social media/advertisement and web security can have a major impact on a business.  For instance the affair website Ashley Madison (which I find disgusting), a million dollar company, was ruined by hackers and social media.