Class 11

March 31st:

Tonight's class covered chapter 14: "Integrated Marketing Communication"

This chapter talked a lot about PROMOTION. I always heard the term promotion and thought SALE. But it turns out a promotion is just communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence their opinion or elicit a response. They do this through advertising, public relations, sales protons, and personal selling. We learned when is the best time to use each of these tactics and looked at some good examples in our book.

Class 10:

Chapter 12 "Marketing Channels and Supply Chain Management".

We watched a video on the make-up company...

Sephora was founded in Paris, France but has since moved to New York, and every other main city throughout the United States (including Fashion Place Mall). They sell their own brand of make up and skin care, but they also sell products produced by many other companies. Some of these companies are exclusive to Sephora. This is "exclusive distribution". Where some of the brands they sell (like some Clinique items) can be found in multiple stores are "intensive distribution". The VP of Sales at Sephora like having the exclusive distribution items better. She said it's always better to be able to say you're the only one that offers this.

Day 9: No class... support USU basketball!

*Edit: week 8 was our Midterm... went well!*

Tonight our teacher canceled our class so that we could watch our beloved Aggies take on KSU in March Madness. I thought that was really cool since we're not in Logan and often miss out on regular "college student" stuff. It was fun to be able to sit at home with my hubby and cheer for my Aggies. They ended up losing, but it was still nice to have a night off!

Anyway, class was based on Chapter 10, "Developing and Managing Products". Though I was sad there were no video clips for me to relate to :) But one of the interesting points to me was the different categories of New Products. New products aren't just something new. There are actually 6 different categories that are considered "new products". Including, "additions to existing produce lines" and "lower-price products".

Another point in the chapter that I liked was the Product Life Cycles. There are 4 stages in this cycle. "Introductory Stage", "Growth Stage", "Maturity Stage", and "Decline Stage". Each stage is unique and (at some point) inevitable.