Reflection on Marketing Project

Spending whole term and working closely with each team member, we finally finished the project which focus on ” target corporation”. It’s not my first time working with others, but it’s the most comfortable group for me. Every member is very nice and hard working. Unlike the traditional presentation, this time we need to make up a video by ourselves. This is a new challenge for me, because I never did video project before. Finally I find  the video assignment is more interesting.

Based on the experience with traditional presentation style, which can be called PowerPoint presentation. Student can use similar material and information which can be searched online. But for the Video presentation, we should think all the thoughts by ourselves, such as firstly, we need a story. Our team’s story is a CNC girl interview the manager and a employe in Target, and the customers in the Target. Secondly, we should know how to shooting. We search lots of information online and try our best to do the assignment. Finally, video editing is the most important. I think our team is an efficiency team,  in each meeting, all of us is very positive, and provide constructive suggestions.

I believe our project will be  successful , not only because we get the mark, but also the project brought us together as a family. I will remember all of the members, Lisa, Komi, Nicole, Janson and Tracy. It’ s really an important memory for me.

Black Friday

 

As we know, “Black Friday is the Friday following Thanksgiving Day in the United States, often regarded as the beginning of the Christmas shopping season.” Every year, around $50 billion dollars spend in the period of “Black Friday”.

In Seth’s blog, which says Black Friday is just as media trap. This marketing phenomenon like finding something that people are already interested in doing. Actually, retailers offer very little in the way of actual discounts.

But in my opinion, Black Friday is an efficiency way to improve the economic. Customers can spend little money to buy more stuff, which can improve the shopping desire. On the other hand, retailers can reduce their inventory. It’s a win-win situation. But I agree some part of Seth’s opinion, such as media sometimes exaggerated the promotion. Not all the products will be cheap in those days. For some shops, may the first 100 customers can get the products on 90% off, so that people should spend one night to line up.

All in all, “Black Friday” is a successful marketing strategy, for both customers and shops, it’s a win-win situation.

 

Seth’s Blog

http://sethgodin.typepad.com/seths_blog/2013/11/blackfriday-media-fail-.html

 

Understanding Customers Needs Can Lead to Success-Seven Principles

Under today’s macroeconomic conditions, the key factor of succeeding is how to quickly adapt to customers’ needs. Companies become more and more customer-oriented.

Most of companies can easily update their new technologies, like smart phones and Internet commerce, such as Apple and Microsoft. But it’s not easy to catch up with the changes of customer’s social behavior. In order to understand the consumers’ behaviors, we should know how the consumers make decisions. Basically the customer’s decision is made based on the social factors. For example, high heels is a symbol of women, every woman desire to have a beautiful high heels, even though they know it’s not comfortable.

So the desire for social proof usually influences our decisions of purchasing items, such as outfits and decorations. Even when we are indecisive on purchasing, we will often turn to the people we know. With the passage of time, customers will make purchasing decision based on the desire of becoming the persons they admire. According to the data what I find, It is claimed that almost 50% of shoppers surveyed admitted to making at least one purchase based on a social media or friend recommendation. Authority principle becomes a major method to attract customers’ eyeball. Famous people always have a big rallying point.

Besides the sections mentioned above, the Reciprocity-“Repaying favors”, Scarcity-“less is more”, and Consistency principle-“being loyal to certain brands” are three large social habits that influence the consumers’ behaviors. So company should focus these seven principles to understand what the customers’ needs and what should we show to the customers.