Friday, April 22, 2016

Blog Post #8: Reflection


Hello everyone!

As the semester winds down, it's time to reflect on the time spent in my marketing class and what I've learned throughout the semester. Before taking this class, I had a taste of marking in my Intro to Business class my sophomore year. While it was informative, it didn't really give me a sense of what marketing was all about. Now that I've almost completed an entire semester of marketing, I can easily say I've learned a lot throughout the course. This blog post will be dedicated to reflecting on my lessons learned and the connections to the course outcomes and objectives. 

1. To have the opportunity to put marketing into action via team and individual projects, research, reports, and presentations

Our big presentation of the semester was the Ted Talk presentation. My Ted Talk was about Coca Cola's success and the lessons that nonprofits can learn from them. I thought it was a really interesting topic, because it turns out marketing for Coca Cola is similar to marketing for countries in need of medicine and vaccines: both are aiming to meet the needs and wants of the consumers. This presentation was an opportunity to tie in all of the marketing concepts I've learned thus far and present on an important topic in our world today. I incorporated marketing terms into my presentation, such as distribution, which was a key part of my Talk. This was also a timed 3-minute presentation without notes. I've never had strict guidelines to a presentation before, so I had to memorize my presentation and time it perfectly. It took time, but I finally got it down and felt confident during my presentation.

2. Understand that the marketing process starts and ends with customers and consumers

The book definition for marketing is "the activity for creating, communicating, delivery, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large". It all begins with a need from a consumer. Businesses first need to understand what the consumers need. Next, businesses must tailor their products and services to meet the needs of the consumers. They must understand the demographics of their target market and do other research to figure out what the consumer would value in their products. The end result, either a finished product or service, is bought by the consumer. Every aspect of the marketing process deals with the consumer and their needs. Without the needs of consumers, a business would not need to exist. 

3. Analyze and evaluate basic financial statements and business formulas (profit, ROI, etc.)


Image result for excel
As an Accounting major, the financial statements and formulas have been drilled into my head since day 1. But like any other formulas and ratios I've learned, without using them frequently they drift out of my mind. This course was a nice refresher, and we got to use actual data from our Marketing Simulation. About halfway through the semester, one of our assignments was a financial analysis of our progress so far. We created a cumulative income statement, along with income statements from each turn. We also calculated Return on Sales, Break Even Point, and the percentage change in sales, all using Excel. I've always enjoyed Excel, so I was pretty excited when I learned this would be part of the report. Financial analysis is very important in marketing, and running a business in general. From our income statement and financial ratios, we learned what we could do better and acted quickly. Our sales have actually increased steadily! The Marketing Simulation and use of Excel to construct financial statements gave us a way to create a business in "real life" and analyze it throughout the semester. 


4. Participate and communicate as an effective member of a team

Whenever I find out that group work is involved during the semester, I cringe. I'm one of those people who likes everything to be perfect and in order. Sometimes I feel other people's quality of work does not meet my standards. But with this group, I didn't have to worry as much. For the most part, our work was evenly spread out for big assignments. Often times when a paper was due, we would find a time to meet and work on the paper together. We were in contact through email and text messaging, because these were the best mediums to reach each other. Every week we also had a decision due. Much of the time we only made minor changes, but we all gave our input and decided as a team what our next steps would be. Overall, I would say our group worked well together. There were no arguments or anger towards anyone (that I know of). I'm glad I had my team members, because I could rely on them to get the job done in time.

5. To set personal and professional goals, and positively contribute in an engaged class

One of my biggest fears is public speaking. In my mind, participating in class is a low-key form of public speaking, because all eyes are on me and what I say. I've never been one to participate in class. I usually wait for my professor to call on me. However, with this class I've grown more comfortable participating. My goal each class was to speak at least once without being called on. I would say I successfully achieved this goal. It was a little nerve-wracking at first, but I soon realized that my input is always welcomed in class. Since our class was only 11 people and I knew a few classmates, I felt even more comfortable participating. I felt more confident answering questions that I knew, but occasionally I was asked a question I didn't immediately know the answer to. These instances, although daunting, pushed me to really think about the topic and construct an appropriate answer. I'm glad I pushed myself to participate more, because my words are valuable and deserve to be heard.

To conclude, I've enjoyed writing this blog and letting my thoughts flow freely. It was a good way to show my growing knowledge of marketing and how it ties into our every day lives. I know once I step out into the real world, I will notice a lot more because of my new knowledge. I hope you enjoyed reading my blog!!

Courtney



Sources


https://tedcdnpi-a.akamaihd.net/r/tedcdnpe-a.akamaihd.net/images/ted/206290_800x600.jpg?quality=89&w=800

https://static-secure.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/7/30/1375180293884/Lifestyle-SKorea-retail-t-010.jpg


https://blogs.splunk.com/wp-content/uploads/2016/02/excel.jpeg

http://www.corrections.com/system/article/image/29953/Teamwork-b.jpg?1328816846

http://www.hercampus.com/sites/default/files/2015/11/05/girl-in-brown-shirt-raising-her-hand-in-a-classroom-with-teacher-at-the-front.jpg

Monday, April 18, 2016

Blog Post #7: Spring Style with Vera Bradley


Hello Everyone!

Spring is in the air! This weekend, we had beautiful weather and sunny skies. Unfortunately, I got a little burnt (a little is an understatement). But it was nice to explore downtown Burlington and watch baseball games without freezing. As I walked down Church Street, I noticed that my Vera Bradley bag was getting worn out. What a perfect opportunity to invest in a new bag!

As I look through their website, much of their merchandise just shouts "spring". Vera Bradley is known for having colorful and floral patterns. However, they do sell neutral colored bags for consumers who want a simple look. Every year, they create new patterns that the consumer can choose from. They have vast product lines, including purses, backpacks, luggage, wallets and wrist-lets, eye wear, and much more! Every time I stop into a Vera Bradley store, it seems like they've added more items to their product mix. Right now, I have one purse and two shoulder bags in my room, and hopefully I will be adding another bag to my collection soon.

Vera Bradley products are not cheap. Glancing through their website, I noticed the price range for the cross-body bags is $28 to $168. This is a huge difference! A number of factors play into this difference, including the type of material and straps used, number of pockets, and other accessories. The quality of Vera Bradley bags is also high too. I can't even count the number of years that I've owned my bags and they still look new. I'm willing to bet that a consumer wouldn't mind paying a higher price for such a high quality bag.

United States of AmericaVera Bradley products are not just sold anywhere. Across the country, Vera Bradley products are sold at their own Vera Bradley stores (shown in the picture to the left), Vera Bradley outlets, where merchandise is up to 60% off, and at over 3,000 independent retailers. The products are also sold online. In terms of the independent retail stores, Vera Bradley has very selective distribution, where there are a few retailers in a specific geographic area that carry its products. There is only one store in a 25 mile radius from my hometown. There aren't even Vera Bradley stores or outlets in Vermont: just retail stores that sell their products.

What does this tell us about Vera Bradley? Well for one, it shows that the Vera Bradley stores and outlets are in the more populated states, where they would get the most business and sales. In order to become an independent retailer, the store must complete an application in order to sell products. Overall, Vera Bradley is very selective about the store location in order to ensure maximum sales. Retail store locations are not as selective, but the company must be in a good geographic location to sell the products.

For me and a lot of other consumers, shopping online is the easiest way for me to buy products like Vera Bradley. At this moment, shipping is free on orders above $75! Because their products are on the expensive side, this will be no problem. I might even look at a pair of sunglasses to buy before my trip down to Arizona in May. Wish me luck, and I'll see you next time.


Courtney





Sources:

http://12d38d224c2abe5fa63a-1db4ec0fed747b962fac0a483e2c9d9e.r18.cf2.rackcdn.com/1c2cc10b0ef550c822196c72b548346e.jpg

http://www.verabradley.com/category/bags/mini-bags.uts

http://www.verabradley.com/custserv/vb_stores.jsp?storeType=vbr

http://www.verabradley.com/assets/images/cms/category/160310-SummerLaunch-Accessories-Sunglasses.jpg

www.verabradley.com 

Thursday, March 24, 2016

Blog Post #6: Evolution of the iPhone


Hello again!

I'm halfway through "spring break", and I feel like the only thing I've done is homework. I'm one of those people who likes to get their homework done ahead of time, but sometimes I can be a procrastinator. One of my biggest distractions is my iPhone. My senior year of high school, I caved and got an iPhone like all of my friends, and it's safe to say I will never turn back. I love my iPhone. It has everything I need all at the tip of my fingers. What amazes me is how far the iPhone has come since it first came out in 2007. Apple has done an incredible job with the development of their iPhones and other technologies over the years. I currently own an iPhone 6 and iPad mini 2 (I did have an iPod nano until I lost it in February). I honestly believe I will be forever loyal to the Apple brand, simply because their technologies are top of the line and reliable.

Every year, Apple releases a new iPhone in September. The marketing team for Apple creates commercials to hype new consumers up about the release of a brand-new, better-than-ever phone. Below is the teaser trailer for the new iPhone 6 and iPhone 6 Plus, which released last year.



One thing that blows my mind about Apple is that they are constantly coming up with new ideas for their new products. Just when the consumer thinks the iPhone can't get any better, it does. Every generation of iPhones undergoes product modification, with changes to the shape, size, and features. These revolutionary features can transform how the consumer conducts work and every-day life. I generally use my iPhone for social media, taking pictures, and surfing the web. The new camera features make it easier for the consumer to take and share pictures, all with the click of a button. The iOS software, installed on every iPhone, is continuously improving to fix bugs and make the iPhone experience faster and easier.

I would say that Apple is reaching the peak of its growth stage. This means that profits have hit the peak and changes to the product are made. Distribution is broadened at this point, making the iPhone and other products accessible all around the globe. In order to keep the brand growing, Apple must produce new, revolutionary products that consumers will want. An example of this is the development of the iPads. The iPad was first announced in 2010, and it was very successful. The iPad hit a wider target market. Not only can adults use iPads for work and leisure, but children can too, through the use of apps to further their learning and curiosity. One thing Apple had to be careful about was the possibility of the iPad cannibalizing the other products' sales. However, with the popularity of the iPhone and ease of use, I think it's safe to say that iPhones won't go out of style for quite some time.

Apple has created a strong brand of simplistic, stylish, and accessible phones and other devices. Every generation of iPhones and iPads comes with new features and styles that suit the needs of any consumer. I'm always connected to the important people in my life. It's safe to say I will always own an iPhone. Until my contract ends next May, I will only get glimpses of the new iPhones from my friends and on TV. Hopefully I can last that long.

Until next time,

Courtney





Sources

https://i.ytimg.com/vi/FSv12NlGoac/maxresdefault.jpg

https://www.youtube.com/watch?v=lb1Rm9VyII8

http://www.blogcdn.com/www.engadget.com/media/2012/10/ipad-mini-1351017524.jpg

Tuesday, March 22, 2016

Blog Post #5: Never Stop Exploring



Hello Everyone!

Spring break is finally here!! I couldn't be more thrilled to have an entire week off. But it doesn't exactly feel like spring (it's currently 37* at my house). I was in New York City on Saturday to see Les Miserable on Broadway (I highly suggest it). Although NYC is about 4-5 hours south of my house, it was still chilly! But thankfully, I had my North Face jacket to keep me warm. This is one brand that I'm extremely loyal to. I own two winter jackets and a lighter, spring jacket from North Face. Although they're wicked expensive (I'll get to that later), the quality is unbelievable, and that's why I consistently buy their jackets whenever my current one gets worn out.

Here's a little background on North Face. It was started in 1966 by two hiking enthusiasts. The small retail store sold high-performance backpacking and climbing equipment. In the early 1980's, extreme ski equipment was added to the product offering. In the 1990's, the product line increased, adding more apparel, footwear and equipment for all athletes and outdoor enthusiasts.

I'm an outdoorsy person, but I don't typically buy my North Face clothing to explore in the outdoors. I buy their winter jackets because they're comfortable and protect me against the cold, Vermont weather. However, I do own one North Face skiing jacket (even though I haven't hit the slopes since last year). The outer lining acts as a shield against harsh winds on the top of the mountain and the insulation on the inside keeps my body warm. There's no other brand I would trust to keep me warm in the winter. 

One thing that may turn people off from North Face attire is the price. As defined in the marketing textbook, price is "the money of other considerations (including other products or services) exchanged for the ownership or use of a product or service". Since North Face products cannot be bartered, money is exchanged for their products. If you browse through their website, you'll find very expensive apparel, footwear, and equipment. But there's a reason for the steep prices. 


One of the pages on The North Face's website talks about the steps they are taking to help the environment and become more sustainable. The video above talks about a trip to Taiwan to visit The North Face factories and examine where improvements can be made. They found that a majority of the product's environmental impact can be found in the material production phase. Becoming more efficient can certainly cut down on costs, but at the same time, The North Face is trying to cut out chemicals that can harm the environment. This can increase costs and ultimately the price of the product. But what the consumer will take into account is that the high price reflects the steps North Face is taking to help the environment. 

 Materials are not the only elements taken into account when determining the price. Labor, distribution, packaging, and marketing are all factors that set the price of the product. I know the jacket I bought back in the fall was around $100- $120. Did I think it was expensive for a jacket? Yes, but I considered all the costs of creating this high-quality jacket. And I know this jacket will last me a couple of years. 

Now that I've been browsing the website, I might as well check out their spring jackets and vests! See you next time!

Courtney










Sources




Friday, March 4, 2016

Blog Post #4: I'm Wide Awake Again


Hello everyone!

At this moment, I am freaking out in my dorm room because my favorite band released their new album early on Pandora Radio Station. The band, Parachute, is not well-known, but holds a special place in my heart.

I went to my first concert ever freshmen year of college. I saw Parachute and the Plain White Tee's perform at Higher Ground in South Burlington. We got there wicked early and stood so close to the stage I could almost touch it. Both bands put on an incredible show. I had only heard one Parachute song before the concert, but I fell in love with them that night. Since then, I've been to two other concerts and have VIP tickets to a concert April 1st in Boston. I'm stoked.

Here's a little background on the band. It was started by Will Anderson (pictured to the left) and Johnny Stubblefield while they were in high school (both of them are still in the band). Kit French, an amazing saxophone player, joined soon after. Their music is classified as pop rock, and their songs range from upbeat to slow and soft. Their fourth album, Wide Awake, releases next Friday before they start a cross-country tour. Unfortunately the closest location to Burlington is Boston, but it will be well worth the trip.

Although Parachute doesn't have a fan base of someone like Justin Beiber, they have a strong marketing campaign that targets well to their fan base, which consists of younger people (teens to late 20's). They use nearly every social media platform possible to connect with their fans. I follow them on Facebook, Twitter, Instagram, and Snapchat. Every so often, the leader singer, Will, performs live shows from his bedroom in Tennessee that fans can live stream through Facebook. Recently with the release of their new album, Will has been tweeting and Instagraming to get fans excited for the album. In the past few days, he has been sending his fans Snapchat previews of the new songs. I was one of the lucky recipients the other day and I couldn't be more excited for the new album.

I think Parachute connects with their fans on a whole other level than many celebrities nowadays. Just the fact that they Snapchat their fans means they care a lot and want their fans to be excited about the new album. Will doesn't just use Twitter to promote the band; he talks about his personal life, too. The way they interact with fans is genuine, and makes them seem like real people too, not crazy-famous celebrities.

A few weeks ago, Parachute held a contest: the fans with the best music video clip of their new song "Without You" would get a live acoustic performance in their living room! The winner was an ice skating team from Massachusetts, so Parachute flew out and performed in their living room. How insane is that?! I can't name one other celebrity that would do this for their fans. I wish I had the time to produce a music video for this contest, because an experience like that is once in a lifetime.

Exactly 7 days until the release of their album on iTunes and 28 days until the concert in Boston. That's plenty of time to learn all the lyrics of their 12 new songs.  I hope everyone has a great weekend and I'll check back soon!

Courtney






Sources

weareparachute.com 


http://www.josepvinaixa.com/blog/wp-content/uploads/2016/02/Parachute-Wide-Awake-2016-2480x2480.jpg

https://en.wikipedia.org/wiki/Parachute_(band)


Thursday, February 25, 2016

Blog Post #3: Netflix and Chill


Hello everyone!

It's another rainy day here at Saint Michael's College. Lakes have sprung up all over campus and it takes some serious effort to avoid the large puddles. But there's one thing that can get me through rainy day blues (and this awful cold I'm fighting), and that's Netflix. I'm sure you've all heard of it, and might even watch it from time to time. With demanding classes and two jobs, it's been difficult for me to find time and binge watch my favorite shows. But once spring break arrives, I hope to finish the many seasons I've started to watch.

Netflix hasn't always streamed videos and TV shows on demand; it started out by mailing DVDs to subscribers. When my mom first subscribed to Netflix, we ordered movies online and the DVDs delivered right to our mailbox. It was convenient because we didn't have to go to a store and rent movies, but it took time for the DVDs to transport through the mail. Then I discovered the magic of videos on demand. I could watch whatever movies and TV shows I wanted at the tip of my fingers. Once I got to college, I burned through every season of Gossip Girl, Grey's Anatomy, and Orange is the New Black (a Netflix original series). I was completely hooked, and I didn't even have to leave my bed.

One of the marketing concepts we've been talking about recently is competition. Netflix has sure given TV providers a run for their money. As technology becomes more advanced, it's easier to stream videos and shows from phones, computers, and tablets. Many people have been switching from cable and satellite to internet TV, such as Amazon Prime, Netflix, Hulu, and more. One of my best friends switched to Hulu a few years ago and enjoys it much more than the satellite TV provider she had before. She can watch full seasons and current shows.

Now I'm not shooting down cable and satellite TV at all. I think one of the biggest weaknesses about Netflix is the fact that I can't watch shows that are currently playing on the regular TV. What's worse is that the latest seasons often take months to appear on Netflix, way after the season has ended. I think if Netflix added this component to its website, it would be more appealing and draw in more subscribers.

So what are some of the strengths of Netflix? Well for one, if my computer is not working, I can stream movies right from the Netflix App on my phone or iPad. Upon signing in, users can choose their profile and find all of their favorite shows readily available to watch. When I first made my Netflix profile, I took a survey about movie and show genres, preferences, etc. Now when I'm searching for a movie to watch, Netflix recommends shows based on my survey answers. Pretty cool huh?

Since all my homework is finished for tomorrow, I will be chilling in my bed and watching my latest show: Nurse Jackie. See you soon!

Courtney



Sources:

https://en.wikipedia.org/wiki/Netflix 

https://localtvwghp.files.wordpress.com/2014/07/netflix-logo.png?w=1200 


http://cdn.breathecast.com/data/images/full/27907/greys-anatomy-cast.jpg

http://www.netflix.com/browse 

Sunday, February 7, 2016

Blog Post #2: Sweet Treats from Lake Champlain Chocolates


Hello everyone!

Image result for valentine's day clip artIt's that time of year again. Store aisles are overflowing with heart-shaped chocolates, giant stuffed bears, and adorable Valentine's Day cards. I can smell the red roses from my dorm room. Although I do love receiving these cute little gifts for Valentine's Day, I always find it so difficult to shop for my significant other. I'm sure many people agree that Valentine's Day is a woman's holiday, where the women are showered with gifts from their lovers. But I also believe that men should receive something in return too. That's why this Valentine's Day, I'll be getting my guy some seriously sweet treats, in the form of chocolate.


But before I introduce my favorite chocolate shop, let me share with you some interesting statistics for Valentine's Day:

  • The average annual Valentine's Day spending is over $13 billion.
  • It's estimated that $1.7 billion is spent on candy alone 
  • For gifts most given on Valentine's Day, candy makes up 47.5%
  • Number of places producing chocolate and cocoa products: 1,233

Valentine Chocolate Truffles Heart BoxMy go-to place for anything sweet is Lake Champlain Chocolates (LCC). Located on Church Street, this small shop has everything that will satisfy your sweet tooth. My personal favorites are the truffles (expensive but worth it) and chocolate-covered pretzels. When customers walk into their store, a display is set up in the window that shows what the employees have been making recently. When I visited the store in the fall, caramel apples were on display in the window. Although I didn't buy one, they caught my eye and made me want to look around the store for other sweet treats.

If you visit Lake Champlain Chocolate's website (I wouldn't suggest doing this while you're hungry), the front page is covered with their signature Valentine's Day assortments and gifts for loved ones. If you click on the "Shop Valentine Gifts" link, it will bring you to pages and pages of different chocolates to choose from. Chances are, I will buy my guy an assortment, so he can get a taste of everything that Lake Champlain Chocolates has to offer.

Since Lake Champlain Chocolates was founded in 1983, it has developed a strong brand name, which is any word, device (design, sound, shape, or color), or combination of these used to distinguish a seller's products or services. If anyone has heard the name "Lake Champlain Chocolates" they would think of a quality chocolate shop from Vermont. But I also think the packaging distinguishes them from other competitors. In my mind right now, I imagine a box of chocolate with brown and green designs and the Lake Champlain Chocolates logo on the top (I was spot on). How did I remember this off the top of my head? It's because LCC has built up a powerful brand that will stick in its consumers' minds. Of course other consumers may imagine a different packaging style, but this one will always remind me of the delicious chocolates that LCC has to offer.

Tomorrow I will make the trip down to Lake Champlain Chocolates on Church Street and try to restrain myself from buying everything in the shop. But I'm 99% sure I'll be walking out of there with a few raspberry dark chocolate truffles in hand. Until then, my mouth will be watering at the thought of all those chocolates waiting to be taken home.

I'll see you next time!

Courtney




Sources:

http://www.valentines-daycards.com/wp-content/uploads/2016/01/Valentines-day-clipart.jpg

http://www.statisticbrain.com/valentines-day-statistics/ 

http://www.business2community.com/trends-news/valentines-day-spending-statistics-2015-01153592#5rSXjty1fKgJbr78.97

http://www.lakechamplainchocolates.com

http://www.lakechamplainchocolates.com/media/catalog/product/cache/1/image/350x/9df78eab33525d08d6e5fb8d27136e95/c/h/chocolate-truffle-heart-box_2.jpg

http://ww1.prweb.com/prfiles/2012/06/18/9614329/24pc%20Choc%20of%20VT.jpg