FINC Student responses ****Zeek the geek****
Bigricker12
student_responses_finc.docxJohn:
So in my search I found this site, it seems legitimate, and is a fury of information. Overall I thought this was a good piece to help understand Consumer Strategy.
http://www.consumerpsychologist.com/
In this Article the author beaches many points, but the one I gained the most is as a producer of a product, or service, it is incumbent more on the merchant to do their research and homework on the perspective audience then it is the consumer. This selection focuses mostly on the types or research to be done to your intended audience and what key factors to look for in the outcome. Researching your intended customer base will lead you to a successful marketing strategy that will take into account, price, demographic, geographic, and need to name a few.
Robert:
This article from Forbes points out that customers have greatly increased in power to coincide with the interaction that they are able to have with mobile and social technology. Since current and would-be customers are for the most part connected to information, as a result marketers have had to adapt their style to meet their needs. As a result, this article outlines six strategies that are being implemented by businesses around the world in order to ensure their interaction with the consuming public. These strategies are important as with the improved technology there is also a heightened sense of expectation from customers.
Some of the strategies highlighted by Forbes are intended to make the customer’s experience more fun. One is to utilize an app that informs customers on dining and entertainment related opportunities that exist wherever the customer’s current geographical location would happen to be. Another relies on the relative light-heartedness of social media as marketers study the content of online conversations. These interactions on social media can be used for the accumulation of data which can be invaluable to a company as it mounts its next campaign. This includes the practice of replaying to online reviews; in fact, studies have shown that customers who have posted complaints and had them resolved end up being the most loyal customers in the long run.
Making business-related activities less stressful for the consumer is also a key focus for companies. There are companies that are intervening with time-saving tips when a customer seems to be taking longer than usual to finish a transaction. Additionally, some companies have added a feature to their online footprint that allows customers in time-sensitive procedures to view online cameras that allow them to have up-to-date status on their orders.
Finally, another market strategy used by companies has been to predict the future through the analysis of data which can often be used to detect problems before they occur.
Most of these strategies are implemented toward the goal of providing a real-time experience to a consuming public that desires up-to-the minute updates. The smart company in today’s market realizes that if it cannot provide consumers with current information they will find a competitor who can.
Jeren:
Interest rates provide direct inside into economic and financial market activity in the future. Hence, interest rates are one of the most important aspects of the economy and economic development. Acknowledging and understanding potential changes in the future interest rates are essential for everyone ranging from small households to big financial corporations.
I found a recent article published by New York Times Magazine and written by Binyamin Appelbaum, titled “Yellen Says Fed on Track to Raise Rates ‘in Coming Months.'” In this article, the author discusses the recent announcement of the Federal Reserve Chairwoman Janet L. Yellen to raise the interest rates in the upcoming couple months. According to the article, chairwoman justified the future rise in interest rates as Federal Reserve’s continual efforts in gathering evidence of the economic growth of the country (Appelbaum, 2016). The evidence is based on increased consumer spending and the housing market that is gradually coming back up since the recession.
The author of the article noted that the increase in interest rates can come as soon as the Fed’s next meeting which will take place on June 14th and 15th, 2016 (Appelbaum, 2016). For many people, this news is somewhat unexpected considering that Yeller in her previous announcements did not express any urgency for raising interest rates so soon.
References
Appelbaum, B. (2016, May 27). Yellen Says Fed on Track to Raise Rates ‘in Coming Months’.The New York Times. Retrieved from http://www.nytimes.com/2016/05/28/business/yellen-says-fed-on-track-to-raise-rates-in-coming-months.html?rref=collection%2Ftimestopic%2FInterest%20Rates&action=click&contentCollection=timestopics®ion=stream&module=stream_unit&version=latest&contentPlacement=2&pgtype=collection&_r=0
Wanda:
According to an interview in the Financial Times with Eric Rosengren, Boston's Federal Reserve Bank president, it is possible that there will be an increase in interest rates moving in a positive direction during June's meeting. Although the would like to see the interest rate rise by two percent. It is possible that the rates might rise only by one percent during the June meeting. Do to the raise in employment although the job growth slowed down during the month of April. Mr Rodengren is planning to tighten up on the monkery policies during his meeting in March. While other policy makers are divided on what's to come. However, Mr Rodengren voted for the rise of interest rates. Since the oil prices has rose as well as the strength of the dollar is on the rise in the interest rate it is looking positive that the Feds will raise the interests during the June Feds meeting. Although, the policymakers are divided because they are not sure if, all the changes they would like to see happen before the meeting this month scubas; economy changes during the second quarter, more positive direction within the job market, and increase within the market. (Reuters, 2016)
Reuters, (2016). This Federal Reserve Head Says Conditions Are Almost Right For June Rate Hike
Wanda
