This Past Semester

This past semester was a change of scenery for me. Having originally transferred from a University in a general business program, and then criminology, I've realized that I love the concept of marketing. If you look around, it's everywhere although we don't always subconsciously realize it.

Before this course, I wasn't aware of how broad the field of marketing is - it isn't simply finding out how to get people to buy your product or service. It also makes me realize how endless the career opportunities are. Some aspects of marketing, such as advertising, I would excel in with my creative abilities, while other areas such as data collection I would not perform as well in as I'm not great with numbers (although it is a necessary skill to have).

I am currently in the process of forming my own social media marketing agency. I operate large pages on social media and have begun to generate income via ad revenue/other means. My aim is to form a "parent" marketing company, under which my current pages will serve as divisions of the parent brand. From there, I hope to offer insight to clients on how to successfully grow a large following on social media to help promote their products and services throughout the world.

In 5 years, I hope to be well on my way to having an established career. Looking back on this course, I will reflect on how the possibilities within this field are almost endless as it is such a broad area of study.

Just Eat and Customer Engagement

Having ordered from Just Eat a few times, I therefore have an account with them and often receive promotion emails. These emails are usually personalized, containing my name in the introduction. 

I infrequently use their services, therefore I occasionally receive promotional offers, usually a discount of 10%-15% as an incentive to continue to use them. These emails are often received after I haven't ordered for a substantial period of time, and are usually accompanied with the message "We miss you. Take __% off your order on  us."


Personalized emails are effective - they capture customer attention and create a sense of patronage appreciation.

A&W's Pricing Strategy

A&W, unlike its competitors, does not utilize an odd-even pricing strategy, or "charm pricing". This type of strategy is a type of psychological pricing. Although it seeks to differentiate itself, A&W is at a disadvantage, simply due to the way in which the mind processes visual numerical information.

Interestingly, the use of prices that are not rounded to the whole dollar value (ex. $4.95 vs $5) causes what's referred to as the "left digit effect". Studies have concluded that people perceive an attractive price through examination of the furthest digit to the left. For example - an A&W value menu burger sells for $2.95. If a similar burger was displayed on the menu beside it for $3.00, although 5 cents cheaper, the smaller number is more appealing. People will see the number 2 as definitively less than 3. Therefore, this pricing strategy is far more effective as consumers believe they are getting a better deal.

My Favourite Ad

I can remember the days leading up to the Super Bowl in 2011. Watching the commercials is always exciting for me - I enjoy seeing creative ideas in play. One of the most memorable ads to me was Volkswagen's Star Wars themed ad for the Passat. It quickly went viral and in my opinion, was one of the most well thought out ads ever made for the following reasons:

1. It hit the target - Volkswagen aims this particular model at young to middle aged professionals. The use of Star Wars was ingenious - this demographic would have grown up watching these movies, and Darth Vader is such a household name. Even the theme music "Imperial March" is so well known. By including something highly relatable to its target market, Volkswagen can appeal to its clients, both current and prospective, on a personal level.

2. The use of humour - the ad was captivating because it incorporated humour into it. Additionally, it utilized an emotional appeal, by showcasing the innocent, playful behaviour of a toddler.

Being a huge Star Wars fan myself, I found myself smiling throughout the duration of the commercial. It's interesting to reflect on how this commercial must have had such a low budget due to its simplicity, yet sometimes the simplest ideas are the most powerful.

The full commercial can be seen here: https://www.youtube.com/watch?v=FCDKQaH2-_s

Louis Vuitton

As someone who has interest in the fashion industry, I have developed an appreciation for the many different designers, especially pioneers in the industry. As a loyal and regular client of Louis Vuitton, I have grown to have tremendous respect for the company. With works originating back to 1854, Louis Vuitton has grown to become the most recognizable fashion brand in the world. It is owned by LVMH (Louis Vuitton Moet Hennessy), which also controls luxury brands such as Givenchy, Céline, Moët, Veuve Cliquot, Bvglari and Tag Heuer. The following five brand elements are what give Louis Vuitton its unique identity and regarded reputation on a global scale.

1.  Identity 

Louis Vuitton is most recognized for it's Monogram pattern - the "LV" logo accompanied by flowers, arranged in a pattern.

2.  Image

Louis Vuitton has adopted an image of a luxury, high end fashion house. People perceive Louis Vuitton products as being of very high quality, due to its high price and sometimes premium clientele.  Its products are seen as desirable, because they are not accessible to everyone.

3. Positioning

Louis Vuitton targets itself towards typically well established, professional men and women. This is evident through its high prices and client services to suit its customers' busy lives, such as personal shopping. Aside from clothing, Louis Vuitton is most known for its luggage and leather goods.

4. Personality

Louis Vuitton's personality can be interpreted in different ways. Some of its pieces can give the company a youthful appeal, while other products create a more professional, "exclusive" personality. Its logo reinforces the feeling of elegance and class.

5. Equity

Louis Vuitton, and the brands owned by LVMH are of the most recognizable in the world, and the most valuable.

Aspects of Effect Team Contribution

Team work is not only important within business, but in everyday life. It enables work to be completed quickly and exposes members to a variety of different and unique ideas ad perspectives. However, effective and productive teamwork is only possible when all members possess a variety of interpersonal qualities and use these in cooperation and as necessary to complete the group's established goal.

1. Demonstrating Flexibility 

- demonstrating willingness to go forward with an idea even though it may not have been their first choice

- flexible in terms of collaboration times to meet and brainstorm

- adaptability to problems/situational changes as they arise, able to work under stress

2. Showing a high level of Commitment

- willingness to work effectively and put forth a strong effort to achieve the group's goal

- meets deadlines

- does their fair share of work, doesn't leave the rest of the group to cover for them

3. Respect

- demonstrating respect towards teammates

- actively listening to and embracing different ideas and opinions as opposed to quickly turning them down

- contributing equally without relying on the rest of the team to do the work for you

Market Research

By definition, Market Research is the process of collecting information on customers. This information can be used for an array of different purposes - market segmentation, feedback on current products, and identifying customer needs and preferences.

Market research is practiced and exists in many different forms. These include surveys (online, telephone, mail etc) and focus groups (paid, non paid). No matter what form, I believe the collection of market research is important and therefore should be completed when the opportunity is presented. This is because market research enables businesses to improve and idealize improvements for both existing products, and identifying needs that stimulate the development of new, innovative products. As companies work to gain customer loyalty through these actions, it creates perfect competition. This is beneficial to society as a whole - it enables consumer choice between similar and dissimilar products at all levels of quality and functionality.

Aaron's Buying Behaviour

I am a notoriously compulsive spender - typically, limited thought goes into my purchasing decision, other than "I want it because it looks nice". I would describe myself as brand loyal - for example, I frequently purchase from Louis Vuitton. Its products are of high quality, last forever, have excellent resale value and I have an appreciation for its rich heritage.

More recently, I made the biggest purchasing decision of my life thus far and bought a brand new car - a 2017 Hyundai Elantra that would serve the purpose of getting me to and from school and/or a future co-op placement/job. As there are numerous different cars on the market that would meet my needs, my research was extensive and a decision was not easily made. Translated into writing, my thought process looked something like the following:

Problem

-       Relying on a ride every morning at 6:30 AM from my parents is unfair to them

-       Public Transit is affordable, however a one way trip to the campus takes just under 2 hours, equating to 4 hours in total out of the day spent travelling

-       If applying to a co-op placement, will need a method of transportation as it might not be within a reasonable proximity to my house

Information Search

-       Prior knowledge of the automotive industry and manufacturers was useful as I knew what was available

-       Visiting dealerships would allow me to inspect features, prices

-       Contacted prospective insurance companies to get estimates on rate

      Evaluation of Alternatives

-       Created a list of potential “candidates”

-       Calculated the relative cost of ownership for each car, taking into account estimated depreciation, fuel costs, annual insurance cost

     Purchase Decision

-       Decided to buy a 2017 Hyundai Elantra

-       Decision was made based on testimony from family friends who own Hyundai vehicles

-       Low fuel and maintenance costs à having worked at a shop before, I have experience working on Hyundai vehicles and recognized the limited time and monetary resources they require to maintain

-       Low insurance rate

-       Stellar reputation within the competition segment (compact cars)

-       Specific model level had an abundance of safety features that would benefit a young driver

     Post-purchase Behaviour

      Having owned for only a week, highly satisfied so far

About Me

The past month has represented a significant journey for me. I made on of the biggest decisions of my life to enroll at Conestoga College, having decided that I was not enjoying my studies at the University of Windsor as much as I had hoped. I recognized college as being a more suitable option to my learning style - smaller class sizes and more practical, field-related experience.

This being said, I am certainly not unfamiliar to the concept of business. Growing up, I was surrounded by family members who had made a name for themselves. My parents encouraged me from a young age to make my own money while emphasizing the importance of saving early. My first job was a paper route at the age of 9. From there, I moved on to eventually start my own successful small business detailing truck fleets for local companies, as well as clients' and friends' personal vehicles. 

The marketing program was appealing to me as it reflects my creative and innovative desires. When I was younger, I enjoyed art - painting, designing and sketching. I was fortunate enough to even have my artwork displayed in a public gallery, and designed apparel for various programs and schools I attended. In addition, threw my vast experience I have learned to sell myself and my ideas, and enjoy such a challenge of doing so. My highschool career was focused around my participation in the DECA organization - placing 6th, 3rd and 1st in Ontario for my category over 3 years, and attending the international conferences in Anaheim, Atlanta and Orlando.

Success in this course is important to me, as is in everything I do. Fostering behaviour such as attentive listening, participation and adherences to deadlines will certainly enable me to meet my personal goals.