Wymbs Marketing Blog » cwmrikhi

Walmart Pricing

cwmrikhi — Wed, 19 Nov 2008 01:50:42 +0000

This article is worth checking out because it shows how Wal-Mart is putting pressure on companies to get the lowest possible prices and the effects on those companies. It goes into detail about how Wal-Mart can sell a gallon of Vlasic pickles for $3 and most groceries cant even sell a quart for that.

http://www.fastcompany.com/magazine/77/walmart.html

Marketing Blog #6

cwmrikhi — Mon, 22 Sep 2008 23:28:07 +0000

The testing process in marketing is relatively simple. The first step in the process is determining what your reasoning is for conducting the test in the first place. The second step in this process is designing a test that fits based on your marketing variables and what information you plan to get from the people you test. The third step in this process is establishing your test metrics which means what significance will be and what the cutoff date for your test will be, along with other things. The fourth step is the administer the test and monitor the results as they arrive. The fifth step in the process is to analyze and report your findings in the results. The final step in the process is to make a marketing decision based on the outcome/results of your test. Data is collected in a multitude of ways, the most obvious being through websites, then purchases, census data, surveys, and focus groups, all done on the internet of course. We learned about data mining which is an emerging field and is also a new job field that was created in the past 5 years. Data mining by definition is, a set of statistical routines that permit pattern detection in large data sets. Lastly we spoke about the hierarchy of customer focused marketing strategy, which from bottom to top is information, interaction, transaction, personalization, and lastly customization.

Marketing Blog #5

cwmrikhi — Mon, 22 Sep 2008 23:12:29 +0000

We learned about various business models, which could be a traffic aggregator like Amazon or a content provider like the Wall Street Journal. We also learned about various types of revenue models, which can be e-commerce and advertising like Amazon or a subscription model like the Wall Street Journal or even a funraiser model like the Red Cross. The internet in itself is a direct response medium and it is seen throught the 4 I’s, which are interactive, information driven, involving, and immediate. These help to acquire, convert, and contain potential customers. We also learned about the critical strategic elements form the Development and Research perspective, which are the media, the creative execution, the service and support, the offer, and the (email) list. We also got into front end and the back end. The front end refers to the marketing and the back end refers to the sales end of things. Back end also includes support for products and front end includes ALL pre-sale activities.

Marketing Blog #3

cwmrikhi — Sun, 14 Sep 2008 22:30:04 +0000

Business models for any business are very important and serve several functions. A few of them are identifying your target segment, defining cost and profit structure, and to articulate your value proposition. This is NOT a business plan its just aims to begin to create customer value. Also there are an endless array of business models, ranging from apple to staples to ebay. Also as we move along there are less and less significant differences between B2C nad B2B transactions. As the differences continue to lessen, there with undoubtably be a new set of business models to follow. In class we spoke about Zara and apple and what their strengths are as leading names in their industries. They both are very trendy, have the newest items, think ahead of the crowd, employ people who are great at what they do, and create high value and differentiation for the customer. Dell was also spoken about, saying that they create high value by controling the costs for their products and keeping close customer relationships. RFID, a type of radio transmitter was spoken of, and we learned that it could be used to help keep inventory virtually for companies.

Marketing Blog #2

cwmrikhi — Sun, 14 Sep 2008 22:15:15 +0000

Building a value chain is something that any business must do if it plans to be successful. Things that contribute to this value chain in no particular order are speed, quality, and price. These three things can single handedly increase or decrease the value perceived by the customer. Virutal value chains are provided by minimizing error rates, cutting transaction costs, and cutting cycle time for products. Intergrating business processes is also very important becuase it allows your business to store all its financial data in a single system, rather than many systems. This also helps with the automation and integration of all internal systems. Lastly many businesses are moving towards being paperless, which will not only decrease their costs, but its environmentally friendly too.

Marketing Blog #1

cwmrikhi — Sun, 14 Sep 2008 22:05:47 +0000

In our first class of Internet marketing we learned what I would call the basics. We learned the difference between Information Products and Information RICH Products. A product such as a yellow pages book or a mailing list is an information product, because it contains loads of information. On the other hand an information rich product is a product that has a ton of information in reference to it, such as tide, the example that was used in class. We also learned about packet based technology, which is what is used for the internet. It means that it has to reroute itself since it has diverse routing, unlike a telephone line which only has two ends. There are four stages in internet marketing, consumer acquisition, consumer conversion, consumer retention, and consumer value growth. In internet marketing there are actions and inputs. The actions are advertisements and promotions, customer service, and e-commerce. The inputs are things such as offline, interactive, and social and regulations.

Hello world!

cwmrikhi — Thu, 11 Sep 2008 01:30:17 +0000

Welcome to Blogs@Baruch. This is your first post. Edit or delete it, then start blogging!