WEEK 15- Finals

Studying for Finals-- Fun Stuff

WEEK 14- Markup Pricing

As I was reading this week in the text, the part the caught my attention was the markup pricing section. This section explained in detail the process by which price markups are established. The formula goes as follows: Retail price = Cost over 1 - Desired return on sales. So, if the cost is $5.00 and the desired return on sales is 45% then the retail price must be $9.10. The text continues by stating that this simple function is the most commonly used method to establish product markup among retailers and wholesalers.

WEEK 13- Product Publictiy

BMW Hit the Hammer on the Head in this Mockumentary Vide..... Product Publicity




As you have probably noticed, I'm a visually person. I enjoy finding pictures and videos that further envelop the concepts taught in class. One of the sections I enjoyed the most in the text for the class was on Product publicity. The text explains that product publicity is key to introducing and setting apart new products. This technique is used generally during the infancy state of the product, but can have long lasting effects on the life cycle of the product.

WEEK 12- Corporate Blogs

Corporate Blogs are blogs that are maintained and sponsored by a company or corporation.

GM has created a amazing corporate blog. The truly have caught the correct vision on what a corporate blog should be. They don't just repeat what is said in press releases, they talk about what really matter to their business..... Car, Trucks, and SUVs. What they are currently doing to improve them, and what design and efficiency changes are coming down the pipe line. GM is a great example of what a corporate blog should consist of.

Check out GM's blog @ http://fastlane.gmblogs.com/

WEEK 11 - Mass Customization

According to the text MKTG 3rd edition, "Mass Customization is a production method whereby products are not made until an order is placed by the customer; products are made according to customer specifications."

The company that came to mind the first time I read and heard about this concept was Dell Computers. They're a market leader in this type of production. After a customer places an order, the product, in this case a computer, is built as the customer specified. This reduces the amount of unwanted whole products in Dell's inventory.

Week 9-10 Supply Chain

The Midterm was on 3/12

Bigbox behemoth Wal-Mart recently unveiled an ambitious plan to cut 20 million metric tons of greenhouse gas emissions from its global supply chain by 2015. Though the world's largest retailer is generally unloved by greens and left-leaning folk for promoting sprawl, crushing mom-and-pop stores, and paying low wages, its move will have measurable positive effects equivalent to taking more than 3.8 million cars off the road for a year. Wal-Mart with its huge supply chain is attempting to make a difference

Wal-Mart aims to achieve this by working with its 10,000 suppliers to identify reduction opportunities buried in the design, sourcing, manufacturing, and transportation of their countless products.

WEEK 8 Product Life Cycle

In class this week we watched a video on the product life cycle (PLC) of Kodak products. This video went through the PLC of a number of different products. The one that drove this concept home for me was the PLC of a digital camera. The gentleman in the video explained that some cameras are designed and built with the fact in mind that there life cycle will only be a few months. This concept is especially true in most technologies fields.