Week 3 EOC: My Demographics

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--> “The Generation Xers are defined as much by their shared experiences as by their age. Increasing parental divorce rates and higher employment for their mothers made them the first generation of latchkey kids. Although they seek success, they are less materialistic; they prize experience, not acquisition. For many of the Gen Xers that are parents, family comes first—both children and their aging parents—and career second. From a marketing standpoint, the Gen Xers are a more skeptical bunch. They tend to research products before they consider a purchase, preferring quality over quantity, and they tend to be less receptive to overt marketing pitches.” Pg.73
I was born in 1958, yet have never thought of myself as a Baby Boomer. I didn’t even know what Generation X was until I heard the words Gen X in the 90’s, and at that point, they were called the MTV generation. Now, looking at each one from a marketing standpoint, I definitely associate with the Gen Xer’s more than the B-Boomers. In the statement above the words “Less materialistic” jump out at me. The higher parental divorce rate and working moms also factor into my feeling this way. And the following statements, to me are ridiculous. I am by no means wealthy. (of course I realize its referring to the generation as a whole.)
“Although they might now be feeling the pinch of the weakened economy, the baby boomers are still the wealthiest generation in U.S. history. As they reach their peak earning and spending years, the boomers will continue to constitute a lucrative market for financial services, new housing and home remodeling, travel and entertainment, eating out, health and fitness products, and just about everything else.
In a commercial, 1960s icon Dennis Hopper talks plainly about what retirement means in these uncertain economic times. Standing at a crossroads on a major highway, Hopper advises: ‘So here you are, a little confused. Did you think the road to retirement was an expressway? You can’t start this journey without knowing where you’re going. You, my friend, need a plan.’
It all begins with understanding ones dreams. And Dreams don’t retire.” Pg. 72

Week 3 EOC: Making Money for Good

“Did you know that, according to the World Health Organization and UNICEF, more than 5,000 children die every day from diseases that could have been prevented simply by washing their hands? That's a horrifying statistic that Jack's Soap founder Bridget Hilton could not live with.
So she took action and--over a period of just three months--created and launched a for-profit company that, for every bar of soap sold, donates one to a child in need. These luxurious soaps are made with organic ingredients, use recycled packaging materials, and are vegan and cruelty free--making them both PETA and USDA approved.”
http://www.inc.com/brent-freeman/social-entrepreneurs-5-great-companies-that-make-money-and-do-good_1.html

Partnering up with the global organization called Children of the Nations. Jacks soap works with them to make sure their soap is going to the areas that need it the most. Also, instead of sending an exact replica of the soap the public purchases, Jack's works in conjunction with local soap makers, to not only help the local economy, but also reduce the carbon footprint by giving away locally made soap. Through these organizations and local soap makers, they spread awareness of the importance of washing hands, starting with children. They also make sure the soap is personally delivered from Jack's staff or their charity partners with materials explaining the need for soap, so a potential purchaser can be assured that every time they purchase Jack's, they are actually making a difference in a child's life.

Jack's Soap is made from high quality natural ingredients expertly blended to create delightfully aromatic scents. They also pursued Organic Certification for all of their soaps. Organic Certification is one way that Jack's show's their commitment to natural, locally sourced ingredients. Most importantly, it means they use only the purest ingredients, ones grown and produced sustainably and in accordance with USDA Organic standards.

Jack's Soap is certified made in the USA and is based in Los Angeles, CA. Our packaging is made from recycled materials. 

“To ensure the perpetuation of good hygienic practices, Jack's doesn't just donate the soaps but also educates the recipients about the importance of good hygiene. Who would have thought washing your hands could be so rewarding?”
 http://www.inc.com/brent-freeman/social-entrepreneurs-5-great-companies-that-make-money-and-do-good_1.html

Week Two EOC: Boston Consulting Group Videos Games

 

Videogame Makers Can't Dodge Recession

The way the recession is affecting video game sales is no surprise to some. In 2009, sales have declined about 23% from the previous year.

“Retail sales in the PC game software industry also experienced declines, with revenues down 23 percent, generating $538 million in 2009. The total console, portable and PC game software industry generated $10.5 billion, an 11 percent decline versus the $11.7 billion generated in 2008.”

 http://www.eweek.com/c/a/Midmarket/Video-Game-Sales-Down-Eight-Percent-in-2009-382390/

 Most thought the video game industry was a bit immune to the economic recession. With more declines in the following years, sales have dropped sharply.

The xbox has shown dropping sales and struggled to make any kind of profit. The PS 3 hasn’t fared much better. With Nintendo’s Wii U due out soon, industry analysts will be keeping a close eye on Christmas sales.

            In my opinion the Dog would be the Xbox, the Star might be the new iPhones and iPads and Kindles, the cash cow would probably be the Sonys’ PS 3, and the Question mark could be the online gaming world.

 “Watch for more practical purchases this year with consumers buying useful items that they need rather than spending their money on luxury treats,” NPD analyst Marshal Cohen told GamesIndustry Interntational, “Consumers tell us they want to shop more but without the’it’ item and lack of pent-up demand this could be the Christmas of Contradictions.”

Read more: http://www.digitaltrends.com/gaming/npd-wii-u-isnt-an-it-item/#ixzz28wGT0OqA

 “Normally the holidays are good to video game sales. This year, though, not so much. According to NPD game sales in December were down 21 percent over the same time last year, to just $3.99 billion.”

“ Hardware sales took an even larger nosedive, plummeting 28 percent, and accessories dropped 27 points. For the full year, video game sales were down 8 percent compared with 2010, and even digital sales suffered. Downloadable content, in app purchases, subscriptions and other non-physical media gaming sales totaled between $16.3 and $16.6 billion -- down 2 percent from last year. And, in case you're interested, the best selling game of the year was Call of Duty: Modern Warfare 3 -- shocker!”

/http://www.engadget.com/2012/01/13/video-game-sales-drop-21-percent-in-us-as-kids-remember-theres/

EOC week one: Great customer service

“Is a firm that satisfies the immediate needs and wants of target markets always doing what’s best for consumers in the long run? The societal marketing concept holds that marketing strategy should deliver value to customers in a way that maintains or improves both the consumer’s and society’s well-being. It calls for sustainable marketing, socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.”-  Marketing Creating and Capturing Customer Value, pg.12

I shop at Best Buy a lot, and really like their products. A few years ago I bought a laptop for my wife. She wanted the latest virus protection, a carrying case, an external mouse, and flash drive, etc. She really loved it and used it quite a bit. Eventually the battery failed and we took it back to the Geek Squad to see what could be done. We had purchased the extended service plan and had hoped they would at least replace the battery for free. The Laptop had to be sent in for servicing and they told us it would be about a week. We said ok and started to worry that we wouldn’t get it back.

They called us a week later and said the mother board had gone bad. We asked what would it cost to replace and they told us it couldn’t be fixed. My wife had a sad look on her face cuz she loved her laptop. Her face lit up when they told us the only option was to offer her a desktop, 17” screen, and a printer, all new. She was very happy and we have always shopped at Best Buy ever since.

“The societal marketing concept questions whether the pure marketing concept overlooks possible conflicts between consumer short-run wants and consumer long-run welfare.”- Marketing Creating and Capturing Customer Value, pg.12