“Normally, we think of money as the medium of exchange. We “give up” money to “get” the good and services we want. Exchange does not require money however two people may barter or trade such items as baseball cards or oil paintings.” -Mktg, Lamb page4. This is a very good quote for me because before I taken this class I always thought that money was the key to all exchanges when it came to any type of exchange. I’m glad that I learned this because when I start my own company I will use this to secret to make trades with other companies without money ever being involved.
“To discover a marketing opportunity, management must know how to identify the alternatives.” -Mktg, Lamb page 22. What I learned from this quote is that it is best to always have a backup plan not just for marketing but for also advertising also. You can spread the word about your product by looking at all of the way you can get your product advertising, selling or whatever type of item you have to put out there for the world to see.
“The Recent explosion in the popularity of blogs has presented several intriguing opportunities for marketers” -Mktg, Lamb page 41. Along with you opinion Mr. Pinto, I do agree that blogs really make a website a whole lot better than without having a blog section. Even though this site doesn’t sell or make profit in anyway I think that Youtube is a great website. The fact that you can start a conversation and branch it out in so many ways is something that I want to have on my website when I promote my product.
“The first step in creating a marketing mix is developing a thorough understanding of the global target market” -Mktg, Lamb page 57. I believe this is an important quote from the book because it if the book gives you advice I think that you should take it into effect.
“Once Marketers indentify subcultures, they can design special marketing to serve their needs. Some companies launch simultaneous campaigns to reach different subcultures. -Mktg, Lamb page 71. This is an awesome quote for me because this is a great way to spread your word to other cultures that don’t know any English. McDonalds is the perfect example because they can advertise their commercials on the Spanish channels. I’ve seen it before where they have the same footage but it just been replaced with Spanish speaking announcers.
“Many Internet retailers are designing their sites to attract male shoppers.” -Mktg, Lamb page 75. I think this a good strategy for people who run their business through the net. I think the best retailers who do the best job to pull in male customers. There are all types of things that are only offered online such as certain video games, shoes, and porn of all trades. As a male customer I can say that I have actually purchased one of the three. I believe that certain products are sold only online purposely just so that males can buy more things because women buy mostly everything.
“Mail Surveys have several benefits: relatively low cost, elimination of interviewers and field supervisors, centralized control and actual or promised anonymity for respondents.” -Mktg, Lamb page 118. Although mail Surveys are good for feedback whether its positive or negative is a good idea. I think it is a good idea because they tell the company how they are doing and what they can do better such as the 3 week surveys that we have to do at school every quarter. It helps what these instructors are doing wrong and wheat they can do to make the classroom a better place to learn.
“Sometimes, Marketers can get carried away with product extensions (does the world really need 31 varieties of Head and Shoulders shampoo?) .” -Mktg, Lamb page 135. I’m actually half and half on this one in particular. I never heard of 32 different varieties of head and shoulder but I do use the product and if they made a better scent then I would purchase it. But there are companies out there that make way too much varieties a product that people don’t even want or necessarily need.
“New product ideas come from many sources, including customers, employees, distributors, competitors, vendors, research and development and consultants). ” -Mktg, Lamb page 147. Although this quote is quite obvious it’s a good one because where else does a company come up with their brilliant ideas. This quote proves that they don’t depend or invest on their ideas from just one person.
“In order to price a service, it is important to define the unit of service consumption. For example, should pricing be based on completing a specific service task (cutting a customer’s hair) or should it be time based (how long it takes to cut a customer’s hair)? .” -Mktg, Lamb page 165. This quote even had me thinking for a long time how should stuff be done. Well with me as a Web Designer, when I start building pages for clients I think that it would be best on how long it taken me to build the site. So I would do it hourly VS just having the site done and putting a price on it. Actually that can be done too because if you have really good designs then you can bump up the price because you have really good visuals. But I would just go with the hourly wage and just charge more for the good visuals .
“As more companies move toward mass customization and away from mass marketing of goods, the need to stay on top of consumer demand is forcing manufacturers to make their supply chains more flexible.” -Mktg, Lamb page 185. Flexibility is critical to a manufacturer’s success when dramatic swings in demand occur. To meet consumers’ demand for customized products, companies are forced to adapt their manufacturing approach or even create a completely new process.
“Wal-Mart is the largest full-line discount store in terms of sales. Today, it has over 7,200 stores on four continents and its pioneering retail starategy of “everyday low pricing” is now widely copied by retailers around the world.” -Mktg, Lamb page 197. I think that once Wal Mart came up with that slogan it was guaranteed that they would always have low prices. And they are very successful at that because other companies try to take their low pricing slogan but their prices aren’t ever as low as Wal Mart. This is the reason whey they are the number one company in the world.
“Almost all companies selling a good or service use advertising whether in the form of a multimillion-dollar campaign or as simple classified ad in a news paper” -Mktg, Lamb page 212 This is the most awkward quote of the book. The reason I say this is because there is another quote from the book that I want to combine with this one that says “A typical Consumer is exposed to more than 2,500 advertising messages a day but notices only between 11 and 20.” –Mktg, Lamb page 77. If a student only notice 11 through 20 messages out of 2,500 multimillions of dollars I think there is something seriously wrong with that. I think instead of playing the same stuff over and over on the same channel I think it would be best if they put there ad’s on every commercial if they can whether it’s a men’s or women’s channel because it will be a commercial that will be stuck on their mind and have it be that 20/2,500 commercial ads that they see.
“For every hour of television programming, an average of 15 minutes is dedicated to non program material.” -Mktg, Lamb page 235. I noticed this when I was young that about a quarter of the television show that you are watching is going to be about commercials. Fast food does a great job at this because if you want to your viewers to eat your product while watching television they feel like they accomplished their mission as the advertiser.
“More and more often, companies are also using blogs-both corporate and non corporate-as a tool to manage their public images. -Mktg, Lamb page 242. Like I said before this is a great way to put yourself out there. I think another great site that uses blogging is MTV.com because like youtube they have videos where you can start blogging right away at the bottom of the page and start something really interesting to talk about.