Tuesday’s class discussion was, in my opinion, a little scattered. However, I did pick up on some useful and informative topics to mention in my takeaways.
First, marketing to a B2C versus a B2B requires some analysis of segmentation as well as identifying what works in that particular selling environment. This article I found compares and contrasts how businesses sell to consumers versus other business. For a B2C sell, transactions are quick and aggressive; customers buy based on emotion in which marketers tap into their emotional buying decisions. Continue reading
I felt the discussion the class had on Friday morning was incredible. There was a lot of content when we discussed the 4 P’s of marketing, though we were merely just touching the iceburg. The following five takeaways below detail a few things I wanted to touch on:
The first point I wanted to note was the mentioning of odd-cent pricing, such as pricing a good not at $5.00 but at $4.99 or $4.97. The following article from BBC News Magazine (2008) details a few theories into why shoppers fall for this pricing strategy. In short, one theory is because consumers aren’t mentally up for doing quick math on the sales floor. Continue reading