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Reflection Post

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Starting this course, my knowledge of marketing was very basic. I knew it was to do with advertising a product and creating brand awareness but after the completion of this course, I now have a deeper understanding about what marketing really is and I learned how to effectively use it to market a new product. My view of marketing changed drastically. Before the completion of this course, marketing seemed simple because it was being used everywhere but I have now learned, there is so much to consider when coming up with a new product. The marketing plan assignment let me put into use the material I was learning and made me aware of all the different things to consider when trying to introduce a new product. Source: Haiku Deck, 2015 I am currently at the Accelerator Center in Waterloo which is affiliated with the University of Waterloo where I am creating a new product. Taking this course and specifically, completing the marketing plan assignment, has helped me throughout the proce...
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A Personalized Email

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Source: https://www.wish.com/ Wish, an app on your smartphone for purchasing cheap products- particularly clothing, sends me emails regularly. The emails aren't personalized and I think for effective marketing, it is important to personalize the emails. When someone sees their own name, it draws attention to it and as Kevin states in his blog, using their name in the subject line of the email makes them assume that it is from a trusted source which makes for a higher opening rate. Although it's not the only way to catch a consumer's attention, it can definitely improve and increase the email's being seen that you are sending out. Kevin's Blog- Comm 100: https://emailmarketing.comm100.com/email-marketing-tutorial/personalized-email.aspx
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A Struggling Retailer

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Source: Retail Gazette/ Article by Ben Stevens 2018 Abercrombie and Fitch is a teen clothing retailer that has been struggling because of a decline in sales. The brand is a higher-end clothing store so they typically have more expensive clothing but targeting to teens, it's important to have lower prices because teens don't often have the money for more expensive products. How can they improve the retailing mix? Price- They could increase their sales if they were to reduce their prices. Place- Once they have the reduced prices, they should have stores in smaller malls like Stone Road Mall and Conestoga Mall.  Promotion- They should advertise their brand more than they do. I have never seen a Abercrombie and Fitch advertisement, possibly because I am not in Toronto but once they have more locations in these local malls, it would be important to advertise more.  Product- Their products are very similar to the average teen retailer so I don't think they would need an...
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Odd-Even Pricing

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Odd-even pricing is when a price is set a few cents or sometimes dollars before an even price such as $19.99 instead of $20. This strategy is said to be effective because our minds perceive it to be cheaper than $20 dollars even though it barely is. A&W is one food chain competitor that does not use odd-even pricing. I think this is a good strategy because when customers are paying with cash, it may seem annoying to have an odd-even priced item which may result in customers not purchasing the item. Palmquist states in his article that 57% of consumers prefer round numbers and this large percentage is too high to simply ignore.Companies need to satisfy customers and make them happy or they have a risk of losing them so switching to round numbers instead of odd even pricing could increase sales. Reference: Palmquist, M. (2013) Strategy and Business: https://www.strategy-business.com/blog/The-Psychology-of-Pricing-Customers-Prefer-Round-Numbers?gko=f4877
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An Advertisement That Attracts My Attention

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 Source: LinkedIn One advertisement that attracts my attention is the Conestoga College billboard I see around the Kitchener and Waterloo area as well as advertisements often around bus stops. Currently in the Business Fundamentals program, these advertisements made me look because I recognized the name and some mention "Career Focused Degrees". I love learning, achieving things and doing well in school so I am researching different schools that have degree programs I am interested in taking in the fall. I didn't know how many degree programs Conestoga College had until I saw their advertisements and looked more into it. I found they had the degree programs I was looking for! Their message appeal states: "What you do here, counts out there". This is appealing because everybody wants to learn things that are important for their future career. It's effective because it may be what someone is looking for but they might not be aware that it exists until th...
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The 5 Branding Elements

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My favourite brand is Apple because they design their products with a visual appeal to them. In my opinion, compared to Blackberry, Android and other smartphones, Apple's smartphones look better in general. They are also very user friendly compared to their competitors.The 5 brand elements are as follows with explanations of why they are appealing to the target market: Trustworthiness- Apple is a good and reliable phone. Personal experience, iPhones seem to last longer than other brands of smartphones and this could be why it's a trustworthy brand compared to others.  Engagement- Apple engages their target market with Apple Music, App Store and many other interactive apps and systems for the users. Leading edge- Apple is very big in innovation and coming up with the newest and most unique products. This keeps the target market interested and excited for the next new product that Apple will come out with.  Corporate Citizenship- Apple helps conserve the environment by usin...
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Team Work

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It's important to be a good team member because many jobs require team work. Even if you're working independently, you must still be able to work well with others within the company. Here are a few ways to be a good team member: Be dependable Take initiative  Be flexible Contribute your ideas  Communicate and discuss ideas with your teammates Dependable- To be dependable is to do your part well and make the other team members be able to trust and rely on you to get your part done well in advance of the deadline. Initiative- Taking initiative makes you a good team member especially if there needs to be a leader and nobody is taking the initiative to start on a project or schedule a meeting time for all members to meet up. Flexibility- Being flexible means to not always be available but to make time for meetings to work on the project. Communication and contribution- Contributing your own ideas adds information for the project and helps open more ideas from the other ...
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