Wrap up of class 12/11

today we presented our findings and experiences in the simulation. unfortunately, my team was dead last in stock price. also the professor gave a wrap up presentation that went over what we learned over the past three weeks. the one thing i wished would happen today was that the SBC people didn't take the last hour for a forum and rather have a more extensive wrap up class.

12/10

Today, as i like to call them, trips to hell days. our stock price in the team simulation crashed heavily from $19 to $9. thankfully, we saved the value and got it almost back to $12. with a few more cycles of the simulation, we could have easily got back to $20 a share.

12/9

Today we started the team simulation. my team includes anna and john. our initial outlook is very good. stock price is up around $19 a share and our product is selling well

12/8

Today we got into the simulation and was able to practice on our own. we also threw ideas around about what might help us in the simulation

12/4

Today we wrapped up our course material and we also finished our shark tank videos and updates. we also went over what the exam would be like

12/2

Today we went into the ethics of what a product can do with a supplement that could "improve" mental performance. the product had not been tested and could be more harmful than helpful. we also talked about how a product doesn't have to go through a middle man and the extra costs that may incur. the book also mentions the pyramid for corporate social responsibility, differences in ethics based on nationality, and green marketing.

12/1

Today we learned about how to calculate a products true selling and cost price. we also went into selling strategies and platforms. more shark tank episodes supplemented the learning and we also learned that Mark Cuban doesn't mind throwing his money around sometimes.

11/30

Today we learned about the communications mix affects how we market to our potential customers. we also saw several examples of this through class activities. we also looked at the stages that our customers go through when they are informed of a product and when they decide to buy it. the book also mentions sponsorship, product placement and competitive and comparative advertising.

11/24

Class was a interesting study. we learned about several products including a light up bag and a BBQ sauce made by two washington lobbyists.

11/23

Today we had a brief recap of the past week and then we went into some break-even calculations. we also talked about pricing strategy and how that could make or break a business.finally we briefly went in how a supply chain affects marketing. a pricing method that i found in the book that i think is a common strategy is predatory pricing. that's when a company prices below the market to try to drive other companies out of business. Odd even pricing seems interesting also, where odd meant bargain and even ment quality. product line is also interesting because it could be the same price for several products that may have different variable costs.

11/19 Day 4

Today was filled with fun learning in addition to more shark tank "cases". we briefly talked about how some products are "family" branded. thats means that they share a common name, a example being crest, and just change the other title to make different products. we also spent some time learning about how much a brand can be worth. "brand" being just the name and none of the physical assets. we also looked at a shark tank company and then talked about the reasons why the product might fail.one thin g in the book not mentioned today was nonprofit marketing and i think thats almost as important as for profit marketing beacuse it's their only way of getting their name out. something briefly mentioned but i think is important is product modification. products sometimes go through several major changes before hitting market.Labeling i think is also important because it's what people see before they buy the product.

11/18/2015 Day 3

Today was a day where we learned about the differences about B2B and B2C selling, mainly that B2B is done in bulk while B2C is usually a few pieces at a time. we also went into how involved we get in purchasing items, focusing on how men buy clothes. we also saw a few shark tank episodes where the product could go into a B2C selling strategy or B2B. The book mentions is the different types of products, from raw materials to finished products with different uses. another thing in the book is a third segment to sell to, B2G (business to government). the book also mentions reference groups which i think be very important to marketing.

11/17/15 Day 2

Today was a day where we learned about some of the major factors that go into marketing decisions. We also learned about how the product is going to be sold (weather to compete on price or have the product customizable.) We also saw a shark tank episode where the product is targeted to  certain areas of the world. one thing the book mentions is the 80/20 principle that states "twenty percent of all customers generate eighty percent of the demand" another thing the book goes into more details is the differences between races and ages as far as marketing to them. another thing is the how you can segment by how a person might think in addition to their demographics.

11/16/15 Day 1

Today, we learned about the basic of marketing along with a few visual aids about the various decisions on what a product is. The fist big point is the four P's of marketing, which are product, place, price and promotion. we also watched a few episodes o shark tank and tied the investment products to models like the GE model. another thing that we learned about was the 3 advantages that companies may have in advertising. Apple is a example of your own operating system. Falcon Northwest is a example of a niche market. Proctor and Gamble is a example of "throwing money" at the product and having it stick.  a few tings mentioned in the book but not in class were How much marketing plays in everyday life, some of the tools of marketing and the book went into detail about how a SWOT analysis applies to marketing

Introduction

Hi,

My name is Philip Marx and I am a Sophomore Business Major at Western New England University. I am a Eagle Scout with the Boy Scouts of America and have interned with the North Shore Navigators for the past two years.