Lesson 4 -Week 12: Final Learning Journal Entry

Final Learning Journal Entry

Did you learn anything? I learn about customer lifetime value, segmentation, branding ( how to calculate an brand value)

What is Marketing?  It is a very powerful tool to create value for a company by understanding its customers and creating promotional and selling tools on how to sell products.

The following video was about marketing, specifically how an idea was created and how it could be hidden until you are able spread the idea and it is marketing. Consumers have too many choices then people ignore information then things have to be remarkable or different. With too much marketing in the market the strategy the guy advices is about convincing early adopters about your new product them they will let know other people. Important to understand who cares about listening to your product.
http://www.ted.com/talks/seth_godin_on_sliced_bread#t-6637

Lesson 4 - Week 11: Customer Lifetime Value and Rosewood Hotels

Lesson 4: Think Long Term

Week 11: Customer Lifetime Value and Rosewood Hotels

1. Does your company explicitly know the value of its customers? The company I work for in changing efforts in order to understand what the customer wants then we able to value and adapt to them.
2. If not could your company utilize CLV? The company customer are very defined then the calculations on how many years it will take to start making profits will be useful.
3. What are some of the practical issues of implementing the use of CLV in a firm? Data collection and leadership shor-term goals could jeopardize a company long tern CLV
4.  What are the major issues in the Rosewood Case? Individual property branding, competition in luxury hotel segment is intense. only 5% of Rosewood quests had stayed in more than one of Rosewood's properties.
5. What recommendations do you have for the management of Rosewood. Rewards program providing the following benefits: room upgrades, flexible check-in and check-out, personalized services, expedited registration, the freedom to request an specific room. Invest on creating a worldwide brand.
6. Which Rosewood property would you like to visit? Personally, I would love to visit The Mansion on Turtle Creek and Little Dix Bay in British Islands.

The tool below is used to calculate Customer Lifetime Value which helps marketing people to help drive customer behavior in the long term

1. http://hbsp.harvard.edu/multimedia/flashtools/cltv/

Lesson 4 - Week 10 :Intro to Brand Valuation

Lesson 4: Think Long Term

Week 10 :Intro to Brand Valuation 
 I love the following video about how companies are loosing control of brands

http://www.ted.com/talks/tim_leberecht_3_ways_to_usefully_lose_control_of_your_reputation

1. What makes a brand valuable? the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, , as consumers believe that a product with a well-known name is better than products with less well-known names.
2. What do brands do?  How do they create value? Create value on the customer's mind, they create value because customers trust their products just by the name.
3. 
4. What are some of your most favorite brands?  Why? Macy's because it provides good products with discount to loyal customers. Toyota because its Toyota Prius car is a engineering piece of ar. Marriot because all their hotels provide very good service. Lan Chile, I am a world wide traveler and Lan chile is the best airline in the world, their staff is committed to provide service, their food is fresh, they offer wine because they want to advertise Chilean wine and they airplanes are modern and super clean.
5. Should Brands be on the balance sheet?  Why?  Why not? Yes, because they help to generate money to the company and its stakeholders.

Lesson 3 - Week 9 / Culinarian Cookware: A case study in pricing and promotion strategy

Culinarian Cookware: A case study in pricing and promotion strategy
In 2004 the market was: 75% of its customers were 30 to 55 years of age, 8@5 women, 70% has household incomes over $75,000. Product performance and durability were regarded the most important  features in selecting cookware.
A 20% discount was available from April 1 to May 31, 187,000  (normal sales would have been) were sold during the promotion, 80% of households who already owned one of more Culinarian products, 70% said discount was very important in their purchase.
May 2005 20% promotion.

1. Was the previous promotion effective in achieving the goals specified in the case?  Most importantly was it profitable?

  Conclusion, higher sales than in 2003 for a big percentage

1. What aspects of the promotion worked best and which were less successful? 

Work  best: the one in spring 2004
Work less successful: CX1 promotion was not sucessful

1. Should Culinarian run a promotion prospectively?  Why or why not? Yes, because it helps to motivate new sales

Lesson 3 - Week 8 / Pricing/ Channels and IMC

Pricing/ Channels and IMC 

Pricing could be as a positioning strategy and I have noticed it in some supermarkets and apparel stores

1. Reflect on a firm or product you like which you believe is highly effective in bringing all the elements of the Mix together to create beautiful symphony for their consumers. Ann Taylor, they provide excellent quality products with high trained customer service
2. Who are the target audience for the company's market offerings? Professional women who like fashion and easy purchases
3. What are the tangible products the company offers?Ann Taylor offers classic styled suits, separates, dresses, shoes and accessories.
4. How does the company utilize price, and place to enhance the value of its offerings and why do you think there choice work well together? this is very good example where the positioned themselves as an exclusive clothes offering for professional women. They are a leader in their segment because they have a very recognized brand, their employees are well trained and dressed. Plus their stores are strategically located in places where professional women will go shopping or to eat.
5. Does the company have a unique approach to communications with their target audience?  How is the approach well suited to the other elements of their mix? Communication is thorough seasonal magazines to their credit card customers and coupon offerings. They offer other kind of products for other women with their outlet stores where products are different and more accessible in price.