Marketing Management Discussion-Week 1
One of the goals of this class is to better understand marketing and its relation to your own behavior and organization. Students should look for popular press articles that discuss concepts we have discussed in class, particularly having something to do with some area of consumer behavior. In your post, summarize the article and then discuss which principle(s) of marketing are illustrated by it. Please include a link to the article.
Tasks To be Done:
1)Write 1-2 Paragraphs on popular press articles that discuss concepts we have discussed in class, particularly having something to do with some area of consumer behavior(Please see below examples how others are writing take those as reference)and see attached file from professor basic notes
2) Write Comments for Example 1 and Example 2(1 paragraph for each example)
Comments Example for Example 2: Well, this is definately news to me! What a great move by the Goodwill industries! THis does open them up to be able to compete with the other online stores. I do know my behavour has changed and I generally shop online for items. Even groceries and clothing since the pandemic. I know that I am not alone in the aspect that online shopping trend. I think that this is a great move for Goodwill and I hope that this proves to be very profitable for them moving forward.
Example Posts:(Dont Copy Paste the same)
So i stumbled on this article and found it very fitting for our current situation and how it breaks down our behavours as customers in the current market that we are all dealing with.
Inflation is changing consumer behavior: We buy what’s needed, nothing more | CNN Business
Now many of us make ths echoices where to trim the budget and make the choices of what we can change to ease the pain of inflation and the increasing rates of loans. We currently are seeing that the fed rate is increasing and that is creating the slow down of the housing market and the car loans are slowing down. I do find that the article talks about how consumers we are not going to slow on our lesiure travel and how coming out of a pandemic we feel that need to still have the travel to decompress after the pandemic. The article addresses the need that we have that we have aquired the needed items and do not need anything outside of that. This is very relational to the section in the textbook that is on page 15 and it talks about the different kinds of purchases that we make as consumers. Breaking this down we purchase the needed items and have the other items outside of that being ones that we may research or just think about the need that we do have prior to making that. However the article I attached talks about taking that process of thinking about the purchase and how the added instance of inflation add a little more fuel to that fire of the decision of making a purchase.
Example 2: (Please Don’t Copy Paste The same)
Recently the world famous store Goodwill has gone online. The tradional thrifitng store has been another victim of the trend of moving digital. Until now, Goodwill had no centralized online business, with each store selling some of its donations online via third party websites such as eBay and Amazon. This online shopping center is called GoodwillFinds. This is still part of the non profit theme that made the company burst onto the scene so many years ago. With roughly 100,000 items available online, Goodwillfinds.com features search tools that let shoppers browse by category, and eventually it will be able to personalize the site based on the customer’s past purchases. I personally think this is just a common trend you see with every chain around the world. Other juggernauts like Walmart, Target, and Sam’s Club have long been apart of the online trend. Goodwill is finally expanding into this market. This follows the principle of convience for shoppers. Everywhere people are becoming more lazy and perfer shopping online. This move is big for the non-profit company. This now brings them into a market inwhich they can compete with bigger companies and try to gain popularity it once had in its hay day.
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