Real World Marketing

Marketing is very important to learn about. Even after it is learned is it important to use it after you graduate. Marketing in the real world consist of using all the techniques and skills you have learned and applying them to a business instead of an idea. This class has been challenging, and I am glad I stuck with it! Have a great Christmas Break!

Networking

Networking is a business technique that business people use to form relationships and create potential opportunities. It is smart to try to use these skills to have potential opportunities. I think if we didn't use this technique then we would miss out on a lot of opportunities.

Public Relations

Public relationships are very important to a thriving business. For example, your marketing campaign can let the public know your company’s service and what they do, as well as the services that are included. The public determines your prices as well as how much business you’ll have. You can only charge as much as they want to pay or you’ll go out of business. So advertising your business is imperative for a successful business.

E-Marketing

In today's world, online advertising is very important. We revolve around our phones and our apps to keep us informed. So, the wise choice would to be to invest into online advertisements. Put some on Facebook, or Instagram or even some games such as Candy Crush. It is a good way to get exposure while also going along with Society's trends!

Competitive Advantage

Competitive advantage is basically the better value that you can offer your consumers. For example, Subway sells "$5 foot-longs" whereas Jimmy Johns "foot-longs" are more. Now, Subway has competitive advantage with prices because they are able to discount their product to $5. Jimmy John's  has the competitive advantage with their products which makes them pricer. So, if consumers want cheaper food, then Subway has the advantage but if consumers want higher quality product, then Jimmy Johns has the advantage.

Placement for Business

Placement of your business is very important. When picking your spot, you want to pick somewhere where there is a lot of traffic or foot traffic. You would also want somewhere that your building and sign could be seen by drivers. Also another important factor to consider is the population. Whatever kind of business you have, needs to cater to the population you're around.

Market Based Pricing...

I work at Papa Murphy's and not too long ago we lowered the prices since we were in the "slow season." Now since we picked back up, we are in the process of raising our prices. This is because of the increase in business. So, a product I think would have market based pricing is pizza. I am not sure of the formula they use to determine their prices, but right now they are putting it into effect!