In response to Katie Longchamp's post

Can you think of any products in which consumer perception caused them to flop?


After doing some research, I found a product in which consumer perception caused them to flop. According to the website, The Research Bunker,  a product called LifeSavers Drink suffered from consumer perception.

Source: http://rmsbunkerblog.wordpress.com/tag/product-flops/

The perception of this product was comparable to consuming a bottle of liquid candy. Everybody loves candy, but occasionally people have to limit themselves to the amount that they consume, and consumers took this into account before buying the product.

In Response to Tammy Chou

Which category of new product do you think is the most popular, why? Do you think by looking at the new product of Diet Pepsi with its new packaging it would target you to buy the product?


            I believe that the category of new product that is most popular would have to be additions to existing product lines. Many companies already have really successful product lines that they would not think to get rid of, but they also want to expand on their customer's favorite products. Additions to existing product lines would expand the products, and give consumers a bigger variety of the the product that they love and enjoy.
            Looking at the new product of Diet Pepsi, I would definitely buy the new product. The new product packaging is sleek, new and fresh for todays consumers. If I saw new packaging for Diet Pepsi, I would definitely want to try it out considering I already enjoy the other Diet Pepsi products.

Branding

    In class this week, we discussed the topic of branding. Branding is the main tool marketers use to distinguish their products from those of their competitors. Branding consists of a brand, a brand name, and a brand mark. A brand is a name, term, symbol, design or combination that identifies a seller's product. A brand name is that part of a brand that can be spoken, including letters. A brand mark is the elements of the brand that cannot be spoken.
    We also went deeper into branding with its benefits. Branding has three main purposes:

1. Product Identification: Branding allows marketers to distinguish their products from all others.

2. Repeat Sales: This is the best generator to satisfy customers. Branding helps consumers identify           products that they want to buy again.

3. Facilitate New-Product Sales: Having a well-known respected company and brand name is extremely useful when introducing new products.

With these benefits, a company can continue to gain sales, have their customers identify their products, and keep them interested when introducing new products.


Do you believe that one of these purposes are more significant than another when it comes to branding? If so, why do think so?

In response of Nick Vita's post

Nick asked us, "Do you agree that the NFL should stop advertising on uniforms?"

 I disagree with Nick on this. I believe that advertising on uniforms is a great way for a professional/ club sports team to gain an income when they need it. Although on some uniform designs, the advertisement is front and center, and the team name is much smaller and normally in the corner, I believe it is a great way for the team to get their names out there in the market and get more offers for advertisement. Even though the uniforms with the advertisement logos don't necessarily show off the team name, the uniforms will be rememberable by the unique design of the advertisement.

Culture

 As discussed in Chapter 5 of our textbook, Culture underlies the family, the educational system, religion, and the social class system. The network of social organizations generates overlapping roles and status positions. These values and roles have a huge effect on people's preferences and on marketers' options. A company that does not understand a country's culture will most likely fail in that country.
 An example of culture differences is when people in India shake hands, they sometimes shake hands rather limply. This is because in India, a soft handshake conveys respect, and not as a sign of weakness or disinterest.
 Another example of culture differences in other countries is selling Broadway plays to other countries. The rights to reproduce Broadway plays are increasingly being sold overseas. However, the plays encounter some difficulty in translating cultural idioms and humor in other languages.

Can you think of any companies that have gone through a cultural roadblock? If so, what did they do to overcome this problem?

In response to Tammy Chou

Were you satisfied with a product targeted towards your lifestyle?

I have purchased many products towards my lifestyle and have been completely satisfied with them. One in particular is my Nike sneakers. I like to go to the gym on a regular basis and Nike is a great brand for people with an active lifestyle like myself. After purchasing and using the sneakers, I have yet to be disappointed in Nike. The sneakers are comfortable and durable, which is what I was looking for in a pair of sneakers. I will definitely continue to buy Nike sneakers and even more of their products. 

Self Regulation and Government Regulation

Self regulation and government regulatory agencies need each other to work efficiently. Self regulation is defined as control by oneself or itself, as in an economy or business, especially such control as exercised independently of government supervision or laws. Government regulatory agencies do their job by making sure the business environment is fair, allowing room for companies to have their own morals, rules, and ways of running the business.Without government regulatory agencies, the business world would have no guidelines or set of ground rules that society would expect them to follow. On the other hand, without self regulation, companies would have no room to be unique or different.

Do you know of a company that relies solely on government regulation?