Monthly Archives: November 2014

External Blog: How to Advertise Your Start Up Effectively

The author of the attached blog post, Lorna Van Straaten describes nine ways in which a start up company can effectively advertise their brand name and products.  These steps include, where and how to target customer segment, determine and clearly advertise points of difference and parity, and consistently conveying your value proposition to consumers.  I agree that all of marketing strategies described in the blog post are essential when advertising a start up company. For example, clearly establishing points of difference are extremely important because they show consumers how your company differs from competitors, giving you a competitive advantage.  This will increase incentive to purchase because customers will be aware that your company has something different and unique to offer. In addition, determining a specific customer segment is a crucial aspect to starting a business. You must ensure that your product solves the needs of each consumer, and that it is clearly conveyed in your marketing strategy and value proposition. Then, consider the most effective way to advertise to the selected group of consumers, through social media, or magazines, or television. Without the use of the proper advertising channel, the targeted customer segment may not be aware of the product or company and therefore, would not purchase their goods.  In reading the attached blog post, it is evident that customer relations, establishing and conveying a value proposition, and choosing the correct channels to target customer segments are the most important aspects to effectively advertising a start up company.

Can fair trade boutique expand without alienating customers?

I believe that if the United Nations was fully funded, it would still be necessary to have programs such as the Arc or social enterprise. Although the goal of the UN is primarily the same as these programs, it can be difficult to target smaller groups due to the immense population that theUN must focus on. While the arc initiative and social enterprise are able to focus on social needs on a much smaller scale and give attention to those that may be overlooked.  For example, as stated in the above article, the Arc Initiative travelled to Addis Ababa in Etiopia where they created a close relationship with a local business owner, Salem Kassahun. They analyzed current sales and supply issues to help create an appropriate expansion plan for the indigenous crafts business. This plan helped Salem Kassahun gain 15 more employees, allowing her to decrease the amount of backordered products and improve her ability to respond to the growing demand. This targeted experience allowed the Arc and Salem Kassahun to develop a business expansion plan that correctly fitted the needs of the owner. I believe that if the United Nations were orchestrating this, it may not have been as effective or even taken place. In conclusion, the Arc Initiative and Social Entreprise would still be needed if the UN was fully funded, due to their ability to focus on small scale social issues.

NHL Jersey Ads ‘Coming,’ Says League Exec

It has been reported that the National Hockey League is considering placing advertisements on every jersey. This has already been implemented for practice jerseys in the NFL and is being considered for game jerseys in the NBA. I believe that jersey sponsorship is an excellent and innovative way to advertise goods and services to potential consumers.  Millions of hockey fans around the world will see these advertisements on the jerseys of their favourite teams. Each brand will become more well known, and possibly increase consumer incentive to purchase their products. Also, it will give each sponsor a very unique and prestigious image.  Personally, if I were to see that a certain company was sponsoring my favourite sports team, I would automatically see them as a popular and trendy brand. In addition, jersey sponsorship will bring benefits to the various teams in the NHL and the overall league, specifically on the financial side. Companies will be paying each team to advertise their products and brand name, increasing the revenue for the teams and league.

 In conclusion, jersey sponsorship in the NHL is a very unique and innovative way of advertising that will be beneficial for the sponsors, consumers and the league.

Bonnie Chen’s Blog

http://withasideofthriftiness.com/mcdonalds-is-introducing-a-breakfast-1-menu/

Bonnie Chen described how McDonalds is currently focusing on promoting and improving sales in the breakfast segment of the company due to the rapid growth in this industry.  Like Bonnie, I agree that this is an excellent plan for McDonalds for many reasons. Firstly, society is full of individuals with busy schedules, and many may not have the time to make an appropriate breakfast to keep them energized throughout day. Therefore, McDonald’s breakfast food would be a great alternative for these people; it is served quickly and at extremely low prices. It was stated in Bonnie’s post how other fast-food chains are also beginning to focus on breakfast food, however I believe that the McDonald’s brand is strong enough to set them apart from competitors.  As stated above, McDonald’s is much more affordable than it’s competitors, such as Starbucks or Tim Hortons. In addition, I know from experience that McDonald’s is able to serve it’s customers much quicker than its competitors, because you don’t have to wait in line for the barista to make frappucinos or lattes for each customer ahead of you. Finally, the McDonald’s brand is so widely known with it’s Egg McMuffins and McCafes, that it already has millions of loyal customers who would purchase their breakfast food over their competitors. In conclusion, I think that expanding their breakfast market will contribute to the overall growth of the McDonald’s corporation.

Rogers offers U.S. wireless roaming for $5 a day

The above article describes how Rogers Communications Ltd. is now offering customers cheaper rates on phone calls, text messages and Internet browsing when travelling to the United States. This new “Roam Like Home” plan will only cost customers $5 per day, which is substantially cheaper than those previously offered by Rogers and other service providers.  The development of this plan will bring many benefits to Rogers, such as the development of  a point of difference, setting itself apart from it’s competitors. This will attract a massive number of new customers, while also expanding Rogers’ customer segment to frequent travellers and various corporations. Based on experience, phone usage is essential when travelling, whether it be for directions, entertainment or communication. These expenses can add up very quickly, forcing customers to limit their usage. For this reason, Rogers’ “Roam like Home” plan will be extremely attractive to current and potential customers. In addition, a large portion of people who frequently travel to the United States are doing so for business reasons, and therefore, their roaming expenses are covered by their respective companies. Even though it is more of a concern for the companies, they have the opportunity to switch all employees to Rogers to decrease their overall travel costs. It was stated in the article that in the past year, Rogers struggled to generate their projected profits, which put a large strain on company expenditure. The “Roam like Home” plan will attract new customers and in turn, help Rogers produce a larger profit, relieving the financial strain that was previously set on the company.