Impulse products

Well this post is not about producing an innovation, but I am going to use a vocabulary that is included in the innovation chapter. According to Pearson's Marketing Principle, impulse product is a product people often buy on the spur of the moment. Most of these products are located on the checkout desk of markets. Some of the impulse products are magazines, gums, mints, chips, candies, lighters, gift cards, phone cards, soft drinks, energy drinks and even hand sanitizers. The common fact among these products are they are packed in small quantity, and they are usually cheap products less than $5 dollars. (except for gift cards) According to the book, Marketers have two challenges with impulse products. First, they have to create a product or package design that enticing that "reaches out and grabs the customer," Second, they have to make sure their product is highly visible which means they want the products to be located by securing prime end-aisle or checkout-lane space. I usually grab a pack of gums when I go to checkout lanes without planning to buy eat. I usually think "It's a bit more than a dollar. No big deal". Does everyone think like I do? then the strategy of these impulse product marketers is really working well.

Chap 7. Innovation

Packaging

Package is the covering or container for a product that provides product protection, facilitates product use and storage, and supplies important marketing communication (such as usages, benefits, instructions for usage, etc.). I bought some Macaroni and Cheese (Yea, I am a poor college student) and looked up the package. Packaging itself can be Marketing. It not only contains the advertising slogan on the box like "Cheesiest ever" or the picture of delicious looking Macaroni and Cheese, but also some important information about the product such as nutrient fact and warning messages. Using the box or package wisely can be a good way of managing products.

Chap 8. Package

Product Line Extensions Strategy

According to the Pearson's Marketing Principle, Product Line is a firm's total product offering designed to satisfy a single need or desire of target customers. Product Line Extensions have three strategies : 1)Stretching is adding new items to line 2) Filling is adding sizes or styles 3) Contracting a product line is dropping items. Yoplait uses all these strategies well. There are more than 20 different flavors of yogurt in yoplait. They also play with non-fat and low-fat stuff too. They add new flavor or less fat product in the line, but also remove some products that are not popular. They do not add new items, but flavors which I assume its a style. Therefore, I do not think that they use the Stretching strategy.

Chap 8. Managing product line

Trialability

Creating an innovation and a quality product is very important. A manufacturer produces an innovative product with great quality. However, what if people do not know how to use the product? or never even heard of the product? That is where trialability comes into the game. It is important to create an innovative product and let consumers know your product exists. What's also important is to make consumers try your product. Let them try a small portion of your product and know the greatness in using of your product. I will never buy a clone that I never smelled before. I will buy a clone that I already know how it smells. I have a subscription of a magazine, and this magazine has advertisements of clones. I think it is brilliant that they let me smell the clone with a paper. I think this way of advertising for clones itself is innovative. Great trialability is offered by clone industry

Chap 7. Innovation

Mocha Frappucino Ice Cream

Starbucks coffee Ice Cream. In these days, people do not get surprised when I tell them that Starbucks produce Ice cream. However, when Starbucks started to produce ice cream, it was such a big issue (especially among the girls who likes to tend to be like a New-Yorker). I would say this product is an innovation. Innovation is a product that consumers perceive to be new and different from existing products. I am not saying Starbucks coffee is an innovation. I am also not saying that an ice cream is an innovation. The innovations is the idea of combining Starbucks coffee flavor with ice cream. Innovation does not have to be whole lot different from normal life like time machines or teleporters. It can be just general home appliance or supplies. Turning Starbucks coffee into Ice cream is an innovative thinking, and I think it actually turned out to be very good. The ice cream tastes good. Some people who are bored of regular Starbucks coffee like this ice cream. So innovation. Boom

Chap 7. Innovation

Youtube Ad Target Marketing?

I think this falls more into Data Mining category, but it applies a bit more of Target Marketing concept. I play Bass Guitar, and I am interested in Jazz and Funk music. Bass Guitar and Saxophone take big parts of Jazz Music. I was bored on this Friday morning, so I was web surfing. I typed "How to play saxophone" in Google, and the results from Youtube and many websites came out. What attracted me though, the advertisements on the side. Saxophone Lessons. This is a combination of Data Mining and Target Marketing. Marker or Google must know what the customer is looking for by Data Mining, and they find whatever products fit in to this customer's need. One who is looking for a Car is not going to click on this advertisement, but I am truly interested in this ad. (I actually clicked on it) Great strategy that Google ad people use.

Chap 6 Target Marketing

Target Marketing

I am an international student from South Korea. Growing up in Korea for 15 years, I tend to like Korean food way more than American food. I came to American when I was 15 years old, and I lived with American host family. Thank to my host family, I was able to accept American culture and learn English well. However, I had some problems. The biggest problem I had was that I missed my parents (of course). Having parents far away while I'm still growing was a good thing. I had freedom, but I had no one that could support me as much as my parents and give me good advices like my parents do. The second biggest problem was the food. American food is greasier than Korean food, and Korean food is way more spicy. I missed Korean food, and I started to look for some way to get Korean food. This website called "Hmart.com" was a solution. Hmart sells Korean food, books and any products that are sold in Korea, but not in the states. Hmart is a true target marketing business. Target Market is the market segments on which an organization focuses its marketing plan and toward which it directs its marketing efforts. Target market of Hmart is Korean Americans, American Koreans, and any people interested in Korean food and culture. I am happy that such a business exists, and they are doing actually pretty well in America. There are several Hmart stores in Seattle, Federal way, Los Angeles, New York, and other big cities with many Korean populations, and they are still expanding.

Chap 6. Target Marketing