SITEMAP

BACK TO
Ask a Professor

Product

You showed us a video on the connection between marketing fashionable products and gangs. I was wondering what you feel on that and if it is really possible for companies to really base there new products and sales on some gang colors and logos. I personally just think it was taken over the top. What do you think?

I believed it.

How do you find out what motivates people to spend when they don't have the money?

Social status as part of a story.

What is the system for bringing a product to market?

Do you mean process? I use DADDIE. Look in PowerPoint on this site.

Are some products un-marketable?

I do not think so. It seems someone will buy anything.

When you buy a product from a store and you pay for it, the company makes money. How is the money the company gets for one product divided among the company when many jobs helped create and bring the product?

This is usually determined by leadership supposedly through planning.
 
You mentioned how you should not pay full price for things that you are buying. But aside from buying a car I have never seen someone walk into a store and start negotiating prices with a sales person. For example, if the price of a shirt is $40, I don't see anyone getting a lower price on it. So my question is what exactly do you do to negotiate on prices?

Look on Ebay.

Do you believe that the same product sells for the same price everywhere and at all times?

No.

How does a company effectively market a sale when other stores and competitors appear to constantly have a sale?

Because now a sale has lost its surprise and attraction factor, because sales have become second nature to consumers. I think consumers have lost the feeling that they are actually getting a good deal and I'm not sure they always are, isnt it just a ploy to get consumers to buy more of one thing than they would if it wasn't on sale in the first place?

Yes, I think so.

What is the marketing cycle and why is it so important? 

It is the idea that products go through a cycle of birth to death and perhaps rebirth.

What is the new product development process?

I use DADDIE. Look in PowerPoint on this site.

I noticed that you enjoy trying to make some quick money by taking on projects (like your clock idea, or your computer idea) but I was curious to know if you ever factored in your opportunity cost of taking on these projects. For the most part it seems as if you aren't making very much back for the amount of time you spend on these projects and that if you used your time in a different manner you could in the end make more money in the long run instead of just making a few bucks in the short term?

Painfully I agree with you. I gave 10 clocks to UNH. Kept one for myself. See if you see any around? I gave away three computers one to my son, daughter, and nephew. I kept one for myself. Total cost around 2000 dollars. I will not take a tax deduction for the clocks.

I used the clocks as a marketing example to my classes. It takes a great deal of confidence to tell marketing students the truth. It would be easier to make up a story of how successful I was. But you would not learn. It is a gift to you and my students. One you will not receive many times in your life.