545 reflect 2

· Chris Myers

03:50

Oh, repeated hold on 1 s. Let me share something.

· Okay, yeah. So I'm gonna kind of walk through the assignment a little bit.

·

Medhangi Gokhale

04:05

And that way.

·

Chris Myers

04:07

so let me, yeah, let me present the assignment. And then, you guys, you can stop me anytime and ask questions about it.

· I'm gonna talk for maybe 10 min, and then I'll open it for the floor. I don't think it's take too long.

· And I'm recording it. I know. Make sure.

· So that you know, other students can see. Okay, so this is learn task one, and always with the learning task. The goal is

· in my class. It is to have you do some

· analysis

· and do some thinking that's related to, you know, actual marketing activities. So

· the whole point of this assignment

· as it kind of okay, it's about the class brain management. And so really, the focus is on doing analysis about the brand.

· But a company, your company, or someone else's company, big company, small company. But to do some analysis in regard to it. because the whole point is to have a successful business.

· Okay, so and so this is just a course description. Let me object is.

· yeah.

· these are marketing skills if you're not going to own your own business. But right, you have to interpret data forming some reports.

· So actually, that's what you're doing in this assignment? Analyzing customer with, you know, marketing

· behavior.

· I do find the boss of the consumer competitive analysis. So there's quite a few things that you actually do in this assignment on different questions.

· Alright, there's a little waiting instrument.

· Okay? So I take off work certain things because

· the goal is for you to communicate. Well, so I require you to

· send me the questions you're answering, and this has happened before students will answer the questions on the example

· or questions in the book. And it's not the actual question that they're assigned. Okay, so I'm assigning you some specific questions

· you have to have a citation for every question, because right? Your answer needs to be supported

· in in that your own opinion, right where

· analyzing. And so we're using, we're analyzing. Therefore, we are pulling information from different sources, at least a couple sources.

· And okay, reference page. And of course.

· in graduate school, there's expectation that you gonna really explain the answer. That's why it says 40 to 80 words

· little bit longer, a little bit shorter, but generally it should be 40 words is about 4 or 5 censuses. and that should get more points across.

· Now, notice, I sent it back automated. You have a cover page.

· You don't have the questions. They number them.

· I'm not so big on file name, because II greeted with within. So

· now so there are 5 questions, and you choose an option one

· in these other chapters we already talked about

· and so I'm not gonna read the questions to you. But you notice in red I highlight.

· Because every job I've had. Cis. I'm Graham. You have to explain what's going on in your exhibit. You have to explain information.

· You you collect some information from

· from research or from you know the operations of of the company, and so forth. And then you analyze it, and you send the report

· one pager up to 1015 pages, depending on what the report is about. And so I'm suggesting you should do the same every job I've had, even the current. You have to write reports and

· turn it in.

· Okay, so I'm actually not going to read the question. But I want to pull out some key things. So this first question.

· it's all points of difference and points of parity. So I'm going to go down to a question in the example. Now, every question does ventures

· so this question, of course, addresses points of difference and points of parity. So it's probably the only question I'm gonna go through a little more thoroughly.

· And so you need to kind of explain points of difference and prosperity for the

· companies. This person chose Ikea

· alright, and it also asks you to describe a segment. So who are you targeting

· with your prosperity? Positive difference? Because if you're talking to an older person. what's the difference? What's important to them is very different.

· Then it it would be for other students. So if you now, here's their table.

· the reason I always

· generally require exhibits, and obviously every question is because

· a exhibit is worth a thousand words. Some famous persons said that pictures worth a thousand words.

· The exhibit helps me to kind of understand the information a lot better.

· even though you and I'm giving a

· a analysis, a simple version. In writing

· the exhibit I can read and kind of understand what you're talking about, and

· you know, and take some depth from it. And so

· force a parity force a difference, as you can see. Now, this is

· the simple way, excuse me. Most often

· approach to points of parity. Points of difference is to put one company on the left

· one company on the right, and then the carbon fees between them in the middle.

· It doesn't have to be done that way.

· There's no set number of items, but you expect, you know. Let's say 4 to 6, you know, probably not more than 5 or 6, not less than

· 3 or 4, you know.

· But of course it device depends on the product or the service that you're comparing. So in this question.

· the student is comparing

· a MC. Some movie theater to another movie theatre. and one has heated seats. One has daddy and and

· more innovative men use more complete venues, probably.

· or the majestic on the far is this. and all the data has cheaper prices. It's kind of local for you

· not sure about the analysis that his family owned and were operating versus the other one being a corporate corporation.

· So the whole point is. you know, to really kind of compare 2 companies, because no one's company is in a vacuum. so you can have the greatest company

· in your mind or in in maybe a few

· consumers buying. But now.

· unless you're gonna be selling yachts or something where you sell very few of them. Then you really are catering to a large segment of people. and you won't

· to have an idea of who those people are.

· And so if you can see in the segment

· a

· need to, I'm just gonna read just a little bit. Oh, it's chosen characteristics.

· well, add to the values of K,

· okay, well, you didn't actually give that depth of information.

· but he kind of explained just generally

· a little bit of demographics. Would it? Easy

· so but for your table

· you should have some details. Now, almost every question is, gonna have an exhibit, and every question what you're trying to do is be more definitive of your brain now. So if this is your company.

· probably a lot of these, these you had thought about. And and that is the point.

· And and it's a little more designed for someone that wants to own a company, and they have an idea what they want to open up.

· So they have to go in the course it makes you think about a lot of details

· of why. you know Amc. Who used to be popular and why Netflix is popular, and you know Hulu is popular because

· they have a lot of

· for some difference that sets them apart

· in their segment in their consumers. Minds. Okay? So so that's the level of depth you're trying. If, yeah, if this was A.

· A exhibit in the analysis. You were given to the bank for borrowing the money. You would want to go into detail

· and tell them why your company stands out. That's why the points of difference will be important. Why, my company is, gonna make it. What am I doing? Different? Because if you're doing exactly

· what the other company is doing. You're probably not gonna be as successful

· now, if you're better than the other company you're gonna be you're gonna be good or to Green, but it may take some time, because they know the other company. They don't know you.

· and so it may take some time for that marketing effort to make a difference.

· Okay, so we'll go back up to the questions

· and kind of hit just a little bit on each of the questions. So

· now this in March meeting, I think this applies to

· oh, marketing subjects there's or this is something there's some key information that you're looking for. So in chapter 2, we talked about posting differences. Parity.

· In Chapter 3

· we talk about.

· you know, the building box of measuring the

· about brand.

· And of course we talk about

· you know, it has actually a few

· characteristics.

· salience, performance, imagery, etc. And so I'm asking you to pick some in analyzability.

· So that is done a little bit below.

· And so now and so if you notice what you see in front of me now, okay, it's not the exhibit like a table, but what they have done is they?

· answer some questions they went to. Oh, this person went to their older brother. So you expected to go to a person, indeed. Have them ask these questions based on the process services you're discussing.

· or you know you've chosen

· in the home point ease at the end of

· asking these questions. Then the questions are in the book. So it's not. Don't be surprised, you know the questions.

· but the whole point is to

· take all the information that they give you, and then talk about the brain.

· What does it say about this? One or 2 customer

· in the real world. You would do 50 people 100 people, you know, large group of people. So you can really have a lot more data analysis to do. But we just don't have time in 8 weeks to go in the level of depth. Okay?

· And so again, you see. not any very long issues, because.

· there's no time in the whole point is to can

· expose you to all these different types subjects. Alright, I'm just gonna touch on the questions now and then. I'll just take questions

· question 4 is on

· a

· okay, the particular

· items over

· elements, the 5 or I think it's 6 elements that you have. You have the brand name the URL, the logo symbol character. Okay. So now your your job is to assess

· for a company?

· these, you know, their logo, their symbol, the character. What about it attracts people. Yeah, and make sure you understand this notice, you should have a citation cause. I'm not asking for your opinion.

· Actually, you to analyze the opinion of others. Okay? Because.

· if especially if you're not in the target market for in a particular company.

· you know your opinion with it doesn't help me understand consumers. Now, if you're in the target market, it works out perfectly

· in question in question. 7, it talks about the digital error. A,

· hey? Remember, if I got this question, we needed

· the response, but yeah, it is okay. So the question asks you to analyze.

· okay, so in the chapter, it talks about the company transition into a more digital error. And so the question is, what is that dump company doing to change

· their environment can make changes so that they can cater. So

· if you remember.

· maybe Dylan does. That used to be a company called Blockbuster, and so Blockbuster used to, you know, Netflix kind of Netflix and a couple of other companies push net block, block blockbuster, which was the largest.

· and they were as big as

· almost as big as Netflix is now. Maybe Netflix. 10 years ago 5 years ago. This suggests a 2 billion dollar company

· in in all the major cities and quite a few smaller cities. But now they didn't make the transition into the digital era.

· And

· so now, obviously, some companies could be online. But the point is not that every company is going to be transition from

· into the digital. The whole point is, how do you catered better digitally to the your your target market?

· Okay? So right? So really, that's the point. So what can I do to just be catered to online, more of your own, more online?

· type of a segmenting environment? Okay? So and so what they're doing is the compromise the company does

· they talk about how the company should digit pivot digitally in there? Explain why.

· you know, it's kind of justified. and of course, the last column has okay would be.

· what may they have to do? So? And I'm just gonna read this answer here. So utilizing a digital environment

· change the consumer decision journey. So

· just a short point on.

· So this is the the problem is.

· you have to think differently. If you're shopping digitally. It's not the same as going into the physical store, because generally you go into one physical store visually in 30 or 40 min, you in a in a physical store.

· You've checked out maybe 4, 5 6 stores. So so that's that's the the point is

· that you have to think differently. And so there's some behaviors different in

· there are actually, I still think there's a few websites where they actually compare brandies for you. So

· so you know, sometimes I go to that website because that you know II

·

Unknown Speaker

20:37

were of the brains.

·

Chris Myers

20:38

Therefore it may make sense to, since I'm somewhat or somewhere, some screaming, aware of the brands. It may make sense for me to just go to the comparison real quick.

· Because I know the product I'm buying. I know the brands, but I don't maybe know all the details

· that the website could give me. Sorry.

· Yeah. And

· I'm sorry. Move up and down. Okay. So now, so that's for now the fifth one you pick

· now, I'm gonna choose number one tip because it makes it simple. So.

· But I think number one is an important question. especially for someone that hasn't developed their product or service. Very well. just think about a business when you need.

· Actually, I have. I'm thinking about the product category of the business because they have something in mind.

· So in Chapter one

· and just go down to this example in chapter one, we talk about the different levels of business. Excuse me the different levels of a

· product or service. And so there's the core product, or you know what the need satisfying benefit.

· And then we go all the way up from generic expected up minute. And what we're doing is adding layers, adding.

· elevates to the product or service, you know, making it better, you know, and finding it more clearly of why

· we're

· why is important about this product so, but also, as we do go from top to bottom, we also go up in price.

· Support benefit is pretty inexpensive by the time you get the potential partner.

· you know, it may be 10 times apart. Well, I don't know what 10 times, but definitely, 3 or 4 times the price a in, and of course.

· at the lower end, so long as it's priceless. If we're back here at the upper end.

· someone that is very selective, and maybe because this is premium product at the very bottom.

· So what you're looking at on the right hand side is an example is.

· you know.

· a movie is pretty inexpensive. If you just buy the movie by itself, especially. you know you rent it or buy on demand. It may be 3 or 4 bucks. However, if you if you're in a location, if you're

· either watching a new release.

· well, then, the prices will be high. And so

· there are some levels that you can add. Now. here's the point. You can add these levels. But

· what do you compete like? Walmart competes at the bottom

· in general, I'm going to change that

· completes, maybe at the generic level

· dollar general in dollar Tree. the dollar stores to compete at the very bottom. You know. they, you know, if your pricing. You're gonna be able to get a lot of things there

· that it may be that won't be the highest quality. But now it'll be what you want, and and it will be deed satisfying, and then you can leave the store. You're in and out quickly as well.

· because you don't have any options at the very bottom.

· at the pre-unit level. Now you'll have a lot more options as well as you know. You may have to drive a little bit further to get there, you know, to get the product or service or battle line in in, maybe with the extra day or something, you know, just to get it. Now, next day.

· this this relative is on the product service. So so the whole point is

· that

· you know all these all 7 chapters. Okay, we touched on. And I know, you know, in 8 weeks we didn't touch on in a lot of depth. But the whole point is to produce a table exhibit as well as explaining, Okay, how

· do I use this information to make a decision about a product or service, or a company? Now wait a minute

· whether you're see. This is the key point in understanding brandy.

· It doesn't matter if you're gonna own the company work at the company.

· invest in the company or long company money.

· All the analysis is the same, you know. I mean the right. The information is the same, because you can secure back. Well, what customers are gonna buy this product or service.

· you know, cause, because for all 4 individuals

· the goal is to make some money after, at the end of the day, you know. I mean.

· you might own the company. But you do want to stay in business more than a day or 2. Okay. Alright. I talk for 20 min. I'm already over time. So my question is, what questions do you all have for me?

· I really don't have anything actually. Now, now that I went through this well, less than one or 2 I guess week one to go in this much detail. But that was the point of this and so if you let me. So there

· so if you have a question, the whole point is email me. Now I am gonna extend the due date to Wednesday, Thursday. Nick, well.

· yeah, we said, we used to, because you know what if you don't do it Thursday. Of course you gonna do. About week. You can do it Friday, Saturday, Sunday, because.

· you don't you? You're not on

· work while everybody else is leading around you. I'm just not thinking that so but but so and I am gonna release a little video. I thought, you know, after I thought about doing this, I thought, Well, I'll I'll release the next couple of signets

· on Monday or Tuesday. That video. Then, you know, when we have the meeting on the next week. You often ask questions but you also can look at it. You know those they have time. Okay.

·

Dylan.Barber

26:53

okay, so this assignment to due date is pushed to Wednesday.

·

Chris Myers

26:59

Okay, but I don't. I don't.

· But for some of you all it may not be your best work.

·

Dylan.Barber

27:16

No, no, that that's what I was worried about reading through it. II think the confusion was, I sent you an email. Was was from the last meeting I was under the impression that we were teaming up or something. So

· you know, reading through this at the beginning, I was like, hold on a second. Am I supposed to have a partner for this like what's going on

· so? That was the big confusion there. But once reading through it. And then, after listening to you, I kinda have a little bit better grasp on it.

·

Chris Myers

27:45

But but yeah, II have lot of busy stuff happening right? I'm at work right now. So I'm trying to get my butt home. You know, momma's mad. So but but yeah, I just wanted to make sure I had it. Had it, it could have been some confusion, because I actually did want to exercise and have parties and so forth. But we'll go to try next time for sure. Okay?

· Yeah, we you you know what in some of it will be. Okay. You gonna be analyzing something as a group of 3 or 4 in about, you know. 10 to 15 min, you know, so you know. But I mean, I'll give you a little time, but only gonna give you, you know, an hour right? So I'll try to make it somewhat easy. Okay.

· alright. Well, y'all have a good evening, and I'm gonna send the link in about well, in the next hour or 2

· I'll get the link, and then I'll send it after my next meeting. Okay.

·

Medhangi Gokhale

28:38

alright, take care. Good night.

·

Chris Myers

28:46

and.