Blog #5 Dynamic Pricing: Is It Good or Bad for Consumers and Markets?

9 11 2017

While hotels and airlines have used dynamic pricing for a long time, the last few years have seen an increase in marketers using dynamic pricing to offer their product/service to consumers at the right price based on time or other factors that allow the company to maximize profit. In the age of “big data” and multi-channel shoppers, retailers and manufacturers have a massive amount of information to use to create dynamic prices. Amazon.com and other e-commerce retailers have popularized this pricing method. But they are not the only ones taking advantage of frequent and real-time pricing strategies.

As an example, a number of professional and collegiate sporting events now price tickets based on demand and offer dynamic pricing instead of standard ticket prices for all games. Bloomberg Business reported certain ski resorts started testing dynamic pricing models in February 2015. Uber’s innovative disruption on taxi services also uses dynamic pricing based on demand, weather conditions, driver availability and other factors. However, posts from Forbes.com and MIT Technology Review suggest consumers may not always be happy with this type of pricing strategy, suggesting marketers must carefully consider the impact of dynamic pricing on consumer attitudes and behaviors.

Marketers continue to use dynamic pricing as a method to increase profit margins in today’s data-driven world.

Assignment: After reading Greg Petro’s article on dynamic pricing which appeared on Forbes.com. Blog on dynamic pricing and then watch the Uber Dynamic Pricing Video .  When/where marketers might use it, what ethical concerns do you think consumers might have about marketers using dynamic pricing? Why?
At least 150 words posted by November 18th at 11:30 pm worth 10 points.



Blog #4: Harley Davidson (STP)

20 10 2017

Please watch the below videos showing traditional Harley Davidson Segmentation, Targeting and Positioning: Kid Rock commercial and then watch the new Harley Davidson STP commercial. Markets may be segmented in many ways. In this post, we will consider the lifestyle psychographic segmentation as it relates to Harley Davidson.  For many years Harley Davidson focused on men older than 35 years old that wanted to be like Dennis Hopper in Easy Rider.

New Harley Davidson STP Commercial

Kid Rock and Harley Davidson

Now pick one of the four Haley Davidson Segments, targets, and positioning:

  • Men older than 35
  • Young adults (both genders 18-34)
  • Woman older than 35
  • Diverse (men & women, African American and Hispanic, older than 35)

Please post in 150 words or more on why do think Harley Davidson made the segmentation and targeting change after all these years? What kind of marketing vehicles (TV, Radio, Social Media, Mobile, Events…..) would you use now to reach the target audience you choice?  Why do think this would work. Due October 28th.



Blog #3: Buying a Diamond & Consumer Behavior

29 09 2017

PLEASE NOTE:  This discussion IS NOT about whether you’d buy a diamond online.  While that is an interesting topic, it is not relevant to this exercise, and I will delete posts focused on that issue.  It is the consumer decision process — not online buying– that is the topic we’re considering here.

Buying a diamond is, for most folks, a high involvement purchase that requires an extensive decision process. Blue Nile is an online diamond seller that has designed its web site to take account of the likely needs that customers will encounter as they select a stone. Visit the site at www.bluenile.com and watch the commercial  then look carefully at the many features on the site. For the purposes of this exercise, imagine that you have decided to buy an engagement ring. You think you want to spend $2500 for the diamond itself– but that figure is somewhat negotiable (after all, who can put a price on love?)  When you write your post, consider exactly how specific features on the site allow you, as the prospective buyer, move through the decision-making process outlined in Exhibit 6.1 on p. 173 of your text. In your post, you should NOT get involved in whether or not you’d actually buy online, or the relative advantages of offline vs. online–I will delete such posts since they will be off topic.  The purpose of this exercise is to consider how a marketer needs to meet the needs of a consumer at each of the steps of the decision process. So pick ONE of the steps shown in the figure on p. 173 and consider how SPECIFIC content on Blue Nile meets the need you’d have at that stage.  Please do NOT discuss site layout or navigation — while they are important topics, they are not sufficiently related to the decision model to “count” for this discussion, and I will delete posts related to such issues.

150 word post, well written and due October 7th.



Blog #2: Levi’s, SWOT and Sustainability

14 09 2017

As part of our lecture on marketing strategy and plans a key element of the marketing process is conducting a SWOT (Strength, Weakness, Opportunity and Threats analysis). This week we will look at Levi’s marketing strategy. You should also visit Levi’s Website   and watch this video before posting on the blog.

Read the rest of this entry »



Blog #1: How Does Marketing Impact You?

1 09 2017

How many ads do you see in a day:

  • Count the number of adds you see the next three days, keep a diary. Take it everywhere you go and keep track of the number of ads you see.
  • Organize by:
    • TV #
    • Radio #
    • Print #
    • Online #
    • Social Media#
    • Billboards#
    • In-store#.
    • Needs to total at least 50.
  • How long did it take until you reached 50?
  • List top three ads you remember and why?

One Original Post (150-200 words) worth 10 points . Needs to be insightful, well written and related to your own experience to get full credit.

Due September 10th.

 



Welcome to UW-Whitewater Marketing 311-01 blog!

27 08 2017

As laid out in the Syllabus we will be posting marketing videos on this blog. It will require you review the video and make insightful comments. Please relate the video to the information we covered in class and your daily life.