Family Brand

A family brand is a brand that a group of individual products or individual brands share. This made me think of Clean & Clear facial products. Clean & Clear have an array of products from facial scrubs, blackhead treatment, oil removal pads, and medicated treatments. Even though they have multiple products for different types of stuff, everything is labeled with the big Clean & Clear logo. However, most people dont realize that Clean & Clear is a Johnson & Johnson product. Johnson & Johnson makes all kinds of "bathroom cabinet" products, including their baby products, listerine, Band-Aid, Tylenol etc. Each product carrying their own banded label. However the only true family brand line, is the Johnson's baby products.

Trialability

Trailability is the ease of sampling a new product or its benefits. This is most commonly witnessed in taking a car out for a test drive before purchasing it, but trialability takes place for all sorts of products and services. Gym's commonly advertise free week membership in hopes that you will decide to join after your week is up. Or allow members to have a limited number of "guest passes" in hopes that when their friend comes and tests out the gym they will like it enough to commit.

Target Market Strategies

When talking about target market strategies and segmentation we discussed things such as; who should your target market be? Where is there a need? What segment do you go after? Listening to this lecture made me think of my previous neighbor Ed Wyse. Ed was living in Chicago as a salesman when he discovered the need for african american beauty supplies. All the beauty supplies were targeted towards white women and so he found his 'niche.' Starting as an entrepreneur and having huge success he has grown to establish 24 beauty supply stores throughout Washington, Idaho, and Oregon over his life.

Outsourcing

Outsourcing is defined as the business buying process of obtaining outside vendors to provide goods of services that otherwise might be supplied in-house. The parts warehouse in Kent for Panasonic used to be completely run and maintained by Panasonic employees. Due to the economy and tight budgets they were forced to release all the warehouse employees and hire employees under the Kelly Services company. This way the new workers were coming in being paid much less then the previous workers.

Learning to Tip

One of the terms addressed was the concept of learning. It is explained as "a change in behavior due to experience or acquired information." One of the first things that came to my mind was the act of tipping. I have herd that often times women are more generous tippers than men as a whole, and the reason for this is that women are more commonly found in service positions such as a waitress. It is these past experiences that cause them to tip more generously.

Causal Research

In the discussion of causal research, it is described as a lab research and an example could be changing the music at a grocery store. So this made me think of the gift shop that I worked at over the summer. We always had items for sale but rarely ever had a "sale" table. My manager found that having items for sale in normal priced sections is much more appealing to the customer than having an exclusive sale table. This eliminates the possibility of the customer clumping everything together as crap, instead of thinking that item is a good buy.

The Market for Hard Alcohol

This past week we have been talking a lot about Market research and figuring out what is the best way to sell your product. Jagermeister was developed in 1935 and a man named Sidney Frank received importing rights to it in the 80's. Through heavy advertisement and promotion of this liquor being the best drink in the world, it became a mainstream success. Frank then decided to create a premium vodka for Americans. Using market research to uncover the idea that Americans felt the French produced high quality goods, he put a team together in Europe to create Grey Goose. Although it was evident that Frank was a great advertiser through the success of Jager, it was his market research that led him to gain almost instant success with Grey Goose as well.