In response to Ryan's Post...

In Ryan's recent post, he posed the question: "Do you believe that the people that get logos of company's tattooed on them do it out of impulse, or do you believe they truly showing brand loyalty?"

I think that there are some people who truly get a tattoo out of brand loyalty. My uncle, for example, has the Anheuser-Busch eagle logo on his arm. Although it may not be a good influence to have a tattoo of an alcoholic product for younger kids, I have never seen him drink another kind of beer in my life. I believe that he truly got the tattoo out of brand loyalty, and not just because he wanted to. This is a great way of free advertising for a company, and I'm honestly not surprised companies do not pay people to get tattoos. This could be a cheap and relatively permanent way of advertising at any given time of day.

I do believe, however, that there are some people who get a company logo out of impulse, or just because they "like" the company logo. I personally think that some companies have really neat logos, such as Under Armour, Nike, Apple, and Oakley. I don't think that I would ever go as far as to get a tattoo of one of them, as i would only get something that is personal and actually mean's something to me. This is not to say that some people wouldn't get a tattoo out of impulse or just because they think the logo looks cool. As in the case of my uncle, I truly believe he got the tattoo out of brand loyalty. Do you agree that some people can get a tattoo out of brand loyalty? Have you ever met someone who has?

Selecting Marketing Channels

Recently we have been talking about marketing channels, which is a group of individuals and organizations directing the flow of products from producers to customers. Selecting an appropriate marketing channel is very important and many factors play a role in selecting what kind of marketing channel to use. Some of the characteristics that play a role include customer characteristics, product attributes, the type of organization, competition, marketing environmental forces, and characteristics of intermediaries.

The characteristics of the customer you are trying to market your product to is very important personally. Since the customer is the main reason an organization is in business, to get the product to them that is, the target-market must have an appropriate channel. Consumers typically like to buy limited quantities of a product and do not buy in bulk or complex products as businesses often do. An organization may choose to have a direct channel in more heavily populated areas such as large metropolitans or cities, as the organization can market to more potential customers and have the product more readily available. In areas that are more spread out and do not have as large of a market density, an organization may choose to use an intermediary. This is when the organization uses a third party, who in turn sells the product to the customer. Retail stores, supermarkets, and other similar stores are examples of intermediaries.

Since the customer should be the main focus of the business, it is imperative to keep their needs and wants in mind, and how far out of their way are they willing to go to buy your product. Using an intermediary can be very important and can save a company a lot of money in the long-run when trying to reach customers who are not in an area of high market density. Marketing managers must carefully consider all of these options when choosing an appropriate marketing channel. Do you think the characteristics of the customer is the most important factor when choosing a marketing channel? If not, which one is better?

In response to Michelle's post...

In Michelle's recent post about customer service, she asked "Can you think of a company where customer service is not important?"

I personally do not think that there is a single company that can say that customer service is not important. The customer is the person who will be buying the product, so the company selling the product, service, or idea, should do everything possible to ensure a smooth transaction. Everyone has heard the saying, "the customer is always right." I believe that this is a true statement, especially for marketers. Marketers must research what the customer wants, how they will appeal to these customers, and to try and ensure that the customer will come back for more purchases in the future. Excellent customer service can make the customer more comfortable with their purchase and give them a peace of mind that the company will be there to help with any questions the customer may have.

Since I believe that customer service is so important, this is why I don't believe there is a single company where customer service is not important. The customer is the focus of the business, after all. Do you agree? and can you think of any company in which customer service is not important?

Pricing Decisions

When a company is looking to price a product, there are several factors that should be considered. As price is one of the most important influences on whether or not a customer purchases a product or not, a proper price must me set. There are 8 factors that influence the price including: organizational and marketing objectives, pricing objectives, costs, channel member expectations, customer interpretation and response, competition, legal and regulatory issues, and the other marketing mix variables. I will focus on 2 of what I think are the most important factors.

Costs for a company are extremely important when pricing a product. In the long-run, a company cannot survive if they sell their product below the cost to make it. A marketer should carefully look at all costs associated with the product, so that they are included in the price. In order to keep prices low, many marketers look to reduce costs of making the product, especially in the electronic and computer industry where prices can become very high. Marketers often look at all the costs involved in making a product and view that as the price floor for the customer.

I also believe that the competition's prices can play a large role when setting the price of a product. If a company does not have a similar price for a very similar product, they will not be very successful. This does not mean that the company has to exactly match the competitors' prices, but can prove to be a successful survival strategy. Often times some companies will raise their prices much more for high product quality or extra features, but usually similar products are similarly priced. Marketers must also try to anticipate how competitors will respond to changes in price. If the competitor also lowers or raises a price to a cheaper list price than yours, they may sell more of that product. Competition is a factor that marketers must constantly be analyzing and scanning for any clue as to how to gain a competitive advantage.

What factor affecting price do you think is most important? Is there a most important one? Why?

In response to Mallory's post...

In Mallory's post on product differentiation, she posed the question: "What do you think is more important, quality and design or customer services of a product? What supports your choice?"

Although I think that both quality and design and customer services are extremely important, for me, it is contingent on what product I am buying. Quality and design are naturally very important because you want to ensure that you are getting a product that is going to perform all the tasks that you want it to, while being easy to use at the same time. I believe that quality and design are very important in electronics, appliances, and other more expensive items. Since these products cost a lot of money, a customer will expect to receive a high quality product that has an easy to use design.

Customer service is also an important aspect in deciding what company to buy from, as a customer should expect the employees to be amicable and help them out when they have a question or concern. Also, customer service is very important after the purchase. If a customer has concerns, problems, or questions about a product or service, then the company should be there to assist at all times. I believe when it comes to services and products that are not purchased often (e.g. cars, houses, and other large purchases) customer service may be more important pre-purchase. Of course quality and design are extremely important here too, before the purchase, the customer will need a high level of customer service, so they can learn more about the product they are thinking of buying.

So, although both quality and design and customer service are both extremely important, I believe that which is more important may depend on the customer and what product is being purchased. Do you think that one is ever more important than the other? Or are they equally important?

Brand Equity

When branding a product, it is very important to have a lot of value in the brand strength in the market. Having a quality brand name is key in maintaining a successful business operation. The more well-managed a brand is, the more of an asset it is to the organization, and this is called brand equity. There are 4 main elements that contribute to brand equity: brand name awareness, brand loyalty, perceived brand quality, and brand associations.

Brand name awareness is very important for a company because the more familiar a customer is with a product, the more likely they are to purchase that product of a competitors'. For example, a customer is more likely to buy a Coke or Pepsi product because they are very familiar with both companies and have most likely grown up watching a plethora of celebrities endorse both products. I believe this also ties in with brand loyalty, since the more familiar a customer is with a product and they more likely they are to buy it and enjoy it, the more they will become loyal to the company. If a customer enjoys a product a lot and feels that they are getting a good deal on the product, they are probably likely to become brand loyal. Many people are brand loyal to Coke over Pepsi, or vice versa, based on taste.

Coke and Pepsi can also be applied to perceived brand quality because they have been around for a very long time and continue to each own a huge percentage of the soft drink market share. The high quality soda that they deliver keeps customers coming back to buy more and more of their drinks. The reason many customers continue to buy a product could be because of a brand association. Many people grew up drinking Coke or Pepsi and every time they sip one, it reminds them of their childhood or another fond memory that makes them happy. This could be why brand association can be so important. Do you think any factor is more important than another? Why or why not?

In response to Michelle's post...

In Michelle's recent post about branding, she said: "I believe that if you find a brand that you like (weather it is with shoes, clothing, or even food) you stick with it because it is safe and reliable. What brands do you stick with?"

I completely agree with Michelle in that if you find a product brand that you like, you are more likely to stick with it. This is not to say that that will be the only company I ever buy from, but it means that between that company and another at a given price for a similar product, I would go with the company that I enjoy and because I have had good experiences with in the past and that I know is safe and reliable. One of my favorite foods is peanut butter. I put peanut butter on many things and find it goes great with a myriad of food. I used to only buy Skippy peanut butter, as it was on the cheaper side and was convenient and found everywhere. A couple of years ago I decided to try an all natural peanut butter, and saw Teddie brand. Ever since I bought that peanut butter, I have never bought another brand. I think it is more delicious, has more flavor, is more healthy, and only has one ingredient. I know this brand is safe and reliable to give me high quality peanut butter every time, so I stick with Teddie.

I also like to stick with Google products. I have always used the Google search for anything I needed to look up, and due to my success with the search, I have began using its other products. I recently began using Chrome instead of Internet Explorer, Picasa instead of Microsoft Photo editor, and Google maps instead of MapQuest. I have had great success with these products and will continue to stick with Google for any other products they may come out with. I believe that having a good, recognizable brand name with the reputation to back it up plays a crucial role in using a company's product. Do you agree with me and Michelle in that many consumers have brand loyalty and stick with a particular company?