Concert Prices

There are many different service based businesses, especially in the United States. Pricing for these services is very complex. One aspect of services I wanted to concentrate on is the prices of concerts in small venues, big venues, festivals and local shows. The prices to see live music varies drastically today. The music industry and recording industry have become to different industries. Large venues have many added service fees which vary depending on the show and the cost they predict. Small venues are just trying to maintain their place, where larger venues are looking for a greater profit. The underground music scene is larger due to the affordability and the intimate experience. But if a larger artist was to play in a small venue the prices would skyrocket because of value.

Each experience is rated on a value system, the quality of the musician is becoming less of a factor, if they are famous, a large name on the top 40 lists or a typical big summer show they have higher value. Some of the best musicians are unknown because they do not appeal to the masses in a large party setting. Dave Matthews Band concerts are known for the atmosphere of being a very passionate crowd, involving a lot of singing along to "lets eat, drink, and be merry." This experience, with the musical performance, light show and outdoor concert setting has a value based on all of this criteria, which doesn't effect the musicianship. How high do you think entertainment prices will go?

Developing New Products

How To Develop a New Product:

This is just like a science experiment in Chemistry, you can make hypothesis' and generate ideas or a purpose for this new product, or it can happen fairly sporadically. Here is a step by step process according to our text:

1. Idea Generation

2. Screening

3. Concept testing

4. Business analysis

5. Product development

6. Test Marketing

6. Commercialization

This is a much longer process then I realized, with multiple steps that the product can fail at it all starts over. The main idea behind this seven step process is increased testing at different levels, slowly introducing the new product so that the company does not loose a lot of money. These products are originally supported by other lines in large companies, but you don't want to bring down the full company. A company such as Coca-Cola are always introducing new products because they offer such a wide variety of drink products. Different areas are designated text market cities because they exemplify the target market. Their are lists that rank cities based on a variety of characteristics as to why they provide the best consumer test market. What are some characteristics you think make up the best consumer market for a test city or region?

Inresponse to Sarah's Post 'Pricing'

When it comes to pricing what should be on the brain when a company prices their product? Are there things that should worry a company when pricing?

There are many aspects and considerations in pricing a product. First and the most basic is the cost of making or buying the product, including overhead and labor and the parts. That is the basic line. Then how much income a company is looking to make to cover these costs and expand the company, or if it is a nonprofit organization. Also, what is the cost of similar products? How much can the market handle. A company can price something based off of quality, but if there target market can't afford the product and there are comparisons that are less expensive then they will not see any. Awareness of what is going on around them, and not solely on the workings of their own company is the most important tip and what company's should most worry about.

Brand Recognition in Children

According to an article titled How Marketers Target Kids, industry spending on advertising to children has increased from $100 million in 1990 to more than $2 billion in 2000. The article also notes the increase power of children with "pester power" for families to purchase items. Brand recognition has now reached two levels, the power of pestering children as well as adults making educated decisions know the alternatives. Marketers are spending this increase in money towards marketing to children so that brand recognition and loyalty starts at a young age.

Just like an individual might grow up a yankees or red sox fan they are also growing up a coke or pepsi fan. There are toys in children's meals at fast food restaurants, and teen editions of famous magazines. My cousins who are three and five recognize the McDonald's arches and their parents are not sure why. Schools used to be safe of branding, but now they are a source of educational improvement offering grants and equipment along with vending machines. What is next, advertisements on the side of school busses?

This slow transition from recognition to preference ends with insistence, instead of asking for a soda you ask for a pepsi or coke. Instead of fast food or a burger joint its Mcdonalds, Burger King, Wendy's, Jack-n-the-Box. My favorite, let's go to Disney World, when ever the thought of vacationing or rides or characters or the happiest place on earth.

How far are marketers going to go to snag your child young?

Response to Mallory's Branding

Brands and packaging make the products stand out from others. Do you agree? Do you think that people focus more on the brands or on the packaging of products? Do you believe that they are both very important?

Branding and packaging are a vital part of a product when they are sold in the stores. One point I wanted to stress is that packaging is becoming more and more creative because of the online component of sales. The package would then be the page the item is sold on. But ultimately what most likely got the customer to that page is the brand name. I agree that both are very important but that for higher end products or something most likely bought online the brand name is more important. That the brand name is advertised and recognized. Packaging makes an item stand out on the shelf and incorporates the brand name. If you trust a brand name you are likely to buy other products under that brand name. If something is shiny and bright it my draw attention for a second, or if has a certain picture on it or a second use, it does create discussion. We are consumers and brand conscious. If someone is looking to save money they are looking at price less then packaging as long as the packaging is comparable, and not falling apart.

Culture: A Perceptual Approach in the Marketing Mix

The perceptual model can be applied to cultures in Marketing research. One way I would like to break it down is to a college campus. Throughout the readings on subcultures I made connections to my first year transition experience or my various groups of friends and acquaintances. Companies have to market their product to a variety of subcultures, even just within the United States.
First Off, the premise of this model can relate greatly to the set up of a busy meal at the dining commons. People with similar experiences sit together and can discuss for hours something the table next to them may have no thoughts on. This can relate greatly to the target market, all college students yet so different. I like creating this comparison to get a snapshot of the many cultures within what seems like a college that "lacks diversity." You see cultures interact as they get their food, some very talkative and open, polite while others keep to themselves. The final main observation is the similarity in the way each group dresses, wither they notice it or not.
Taking a step back, being a newcomer within an environment can bring out different sides of individuals. This is a key time for marketers, whether it be in any transportation center, or a billboard of the side of the highway. Easily influences, in college the orientation program, which I have helped facilitate assists first years in recognizing that they have the same problems, aspirations, and that they are in the same situation as the person next to them. We assist in easing this domestic intercultural operation. We pair people off with people who have similar interests so they can create a subculture under the first year culture. Breaking apart these cultures makes the leaders opinion leaders and are one of the main social influences. These identity groups help one transition into the collegiate setting, helping them create a family that perceives their actions as normal.
Soon as groups grow and flourish into different cultures at Keene State College we see the power component. With each groups individual version of the English language they come together in organized clubs with similar interests. Each club having the power, their own format, and making an impact on the larger community that is Keene State College. Just like the goal of each marketing team. I never thought my culture, of music lovers would make such an impact on this campus. We speak a language involving genres, new releases, and concert slang. Now we bring this to the radio station at Keene State, sharing our thoughts and knowledge. Also, we have made on of the largest efforts to connect the town art scene with the colleges, bringing students to events sponsored off campus at such places like the Starving Artist. A group of friends can discuss and relate in silence, or through sharing music can effect an entire melting pot of cultures. This equals one target market, the college student in Keene, NH.

the Overspent American Response

"The Overspent American: Why We Want What We Don't Need" is a video concentrating on the new wave of consumerism in America. It shows the transition of what persona Americans want to portray from keeping up with the jones' to a new millionaire appearance. This shift has led to increase awareness and concern with appearance, and living a life of luxury. Throughout this film we see how Americans are increasingly going into debt. They say the price to live comfortable and for essentials is unreachable. 25% of Americans with a household income of over $100,000 say that it is not enough for basic necessities. The spread of rich and poor and our values in the United States are deteriorating. It is a large concern that the United States is going to lead to its own deterioration. Everyone has to be bigger and better instead of comfortable, or better for the environment, or better for themselves!
This want for more is being taken advantage of by the marketing world. Using celebrities to model a new clothing line ect. I work in a Williams-Sonoma, a kitchen chain, where constantly items are promoted by food network stars. The stress on appearance is driving Americans into debt because of big houses in developments, fancy cars, and fancy clothes.
Personally I find myself falling into this downward trend when it comes to clothes and shoes, and I hope I do not slide to deep. Now I am looking at the negative sides of it, and am trying to support local, live in moderation, and increase awareness of the green movement. Also, watch my credit card, and be aware of what I have. How can I avoid being an overspent American?

Problem Recognition

Did you know for most decisions you go through atleast a five step process?
1. Problem Recognition
2. Information Search
3. Evaluation of Alternatives
4. Purchase
5. Postpurchase evaluation

The marketing team tries to adjust to your five step process. They want their product to be in the right place at the right time. When you are buying that new outfit, if you dig deep you recognize a problem, that you need a new outfit. You search the mall for that new outfit. You evaluate by trying outfits on or asking your shopping partner. Then you make the purchase! But it is not done, you evaluate the purchase that first time you wear that outfit all the way through the last time you wear that outfit. If someone compliments you, you say wear you got it!
Every aspect of this process is studied and analyzed. Top priority products are placed at the entrance of a store, or at eye level. Marketers are trying to influence your decision in ways you wouldn't imagine. Part of the information search is internal, what do you remember about the product? Have you seen an add on tv online are your really informed? The technology age has advanced this process. They have customer service areas assist with postpurchase remorse, and make you feel better about your purchase. I have worked in retail and at checkout we suggest addons and compliment your purchase so there is no doubt in your mind.
I thought everything was more instinctive, how can the actual purchase only be one step?

Globalization in marketing

International marketing strategies fall along a continuum from customization to globalization, which side do you agree with more?

Globalization as defined in our text is "the development of marketing strategies that treat the entire world (or its major regions) as a single entity." Nike and Adidas shoes are two companies that have this approach. I think that globalizing of the international marketing mixes needs to be taken by a different approach.

A global market should be approached through small connections world wide and not this idea that everyone is the same. If connections are made from village to village. With my knowledge of intercultural communication, not everything is universal. There for I think customization would respect others more and touch on the true selling points for that region or country. By working with locals and surrounding areas companies can have a marketing advantage. This is do to the many environmental factors.

Always some things do have to be altered, If I did not understand an advertisement or website because it is entirely in a different language, then I am less likely to buy a product. I am also more likely if the product understands my needs and concerns.

One of the biggest world industries is the car industry. If American companies were advertising large SUV's and Hummers in an overcrowded moped centric city, that would not be intelligent. Even if it was the most popular product in the United States. Different products have to alter more than others, but I think that marketing strategies should respect the cultures of different companies.

One concept i mentioned earlier is to support local smaller businesses, if corporations could market products in local community stores and spread slowly and at a small level, I would have more respect for them.
How can this concept of localizing be effective in the new globalized marketing strategies?

Response to Dillion's post

Is making an environmentally conscious plan always the right decision for a company? As much as every company wants to be environment, there is a certain breaking point where it is not plausible for a business. Their are limits to everything. I agree that this decision is based highly on the market at hand. At an individual level, I like to buy green products but new technology only goes so far. Businesses still have to be profitable to survive and that is the bottom-line. As more consumers want sustainable products, companies will have to look into these alternatives. I believe it is a market that is growing, and the ones who are environmental are more likely to sustain a solid customer base.

Can you buy my love?

"Is environmentalism more of an opportunity or threat for marketers?"

The new direction of advertising and the marketing industry is to appease to their target market. Previously it concentrated highly on selling the product for being a great product, but now it is based off of what is the new hot ticket. Today, I believe company's should grasp the opportunity to market their products advertisement campaign based on environmental forces. It is wonderful for a company to be socially conscious because it can become a competitive advantage, besides all of the other benefits. When a topic such as sustainability becomes an issue, companies should grasp these opportunities. Being the first to grasp a new niche can skyrocket their business.
Companies spend extremely large budgets researching culture and conducting analysis'. Then they spend an exorbitant amount of funds to promote this new idea. Advertisements are everywhere and effect what people buy.
One campaign taken up by many companies is the idea of being sustainable. Now sustainability reports are found within most companies documents. For example North Face a company which sells products that support outdoor adventures makes their popular jackets out of recycled materials. They have created a name for themselves with service based lifetime warranties and a going green message. On their website their sustainability report's overview states :
"Sustainability is not a goal, it's a journey, and at The North Face it is part of our brand heritage. Sustainability and conservation form the core of The North Face pledge to advance the well-being of the planet, its citizens and those who enjoy exploring it."
They now advertise that they were always environmentally conscious so you the consumer should support them with this journey because you matter. You see their jackets on 50% of Keene State students, including myself, because going green is the new big thing.
Companies that see environmentalism as an opportunity understand that the market is always changing, and are more likely to overcome the tests of time. They distinguish themselves repeatedly as they rise to the top within their market. They buy my love by advertising what I want to see, therefore making the right products for me. Can companies who do not adjust to marketers do not have that opportunity to buy my love, what are some ways they have advantages?

Response to Kristy's Post

Salary within the interview process seems like it is going to be a very challenging conversation. I like how you stated that the conversation needs to be respectful. That is something that does get over looked. I don't know how much I should be making from that first job and also don't want to ask for too much or too little. By discussing this information in a respectful manor their might be more room for compromise. Also, your new boss could respect you more for understanding the hierarchy of the business. I think this is a good point we all need to take a better look at.

The 4 P's of Marketing Myself

Today getting a job can seem to be such a project that it needs an entire marketing department to support yourself. You need someone to remind you, who you are what you are capable of and advertise for it! Product, place, promotion and price make up the 4 P’s process.
I am the product. I have qualities, features or qualifications, options, a style of doing things and even services and warranties. I am good for a certain amount of time, and plan on working at the company for long-term or short-term. The creative aspect behind this is incredible. To package yourself, with the proper resume, application, look, and presentation, is difficult to make you the ideal product or candidate.
Second is place. Where is the job located, can I get there in a reasonable manner, am I willing to move if necessary, is the job worth relocating for. Will I drive, walk, take public transportation; are there more than one locations to work? These are questions I have to ask myself throughout the process, what is practical for me.
Promotion. I have to be my own public relations personnel. Selling myself does not sound legitimate, or even legal, yet it is what I have to do in that next big interview. Not only do I have to keep communication channels open and constantly contact the human resource department for that perfect job, I have to do it in a professional manor. Just like promoting my next radio show, through the persona I create or an announcement on the campus website, I have to put my name out there, show I am right and available for your job.
Finally, Price. How much do I cost? You ask that with a grin. My wage needs to make living life possible, paying off school loans, living in an apartment in the right neighborhood to get to work, and dressing to impress. I have a price that is practical. Within the price, there are benefits, if I sell your product, will I benefit? Also, is the pay regular?
Throughout every step within this marketing mix, costs are key. How much can I spend to get to you mentally and physically, and will you be able to cover these costs. Can you keep this relationship going, just like Duracell advertises for their batteries and will I continue to be an asset? Whoever has the time, it is a full time job to get a full time job, wish me luck. How can I manage to go about this intense job search, while my college career is coming closer to an end?