Today's class was another fun and informative class. I still really enjoy the shark tank videos, and I love how they connect to the concepts and help make the concepts easier to grasp and understand. I really enjoyed splitting up into the two groups and I like how we moved seats around today. I will go more in depth later on in the blog, but my muddiest point today was the B2B and B2C. Overall, I'm really enjoying this class!
Today in class we learned a bunch of different things (as usual!) and a few of the more interesting ones were B2B v. B2C by looking at Melni Connections and Buck Mason, the Customer Journey Map through Buck Mason and perceptual mapping. I thought the B2B v B2C was very interesting, and I got some notes, but some times I was a little confused as to what went where. I understood that B2B demonstrates the Melni Connections company, and B2C demonstrates the Buck Mason company. Also, B2B generally has less customers because they only sell to big businesses/corporations, while B2C has more customers because it is selling to all consumers.Other than those few factors, I didn't get much more notes, because I would be confused as to what fact went with which. That's my muddiest point for the day, by the way!
We also learned about the Customer Journey Map by looking at the Buck Mason company. The Customer Journey Map is the before, during and after circle diagram that shows what a customer does before, during and after shopping. I really enjoyed how we went into groups and talked about how men shop regularly (it's crazy that guys don't try on clothes in-store to see if they fit!!) and how men shop when shopping through Buck Mason.
The top picture is a diagram of how guys shop regularly/ in-store shopping, and the bottom picture is how guys shop when shopping through Buck Mason.There was a huge difference! (even though men don't try on their clothes in either situation??)
The last concept that I found interesting that we talked about in class was the concept of perceptual mapping. Perceptual mapping is when businesses measure consumers thoughts on brands/attributes/etc. by surveying them. The diagram on Walmart/Walgreens and high cost/deep was very helpful in understanding this concept.
Three concepts that we didn't talk about in class that I found to be interesting were Maslow's Hierarchy of Needs (pg. 112), NAICS (pg 125), and measuring online success (pg 119). Maslow's Hierarchy of Needs has always been an interesting concept to me, even back in high school. I learned about it in Anatomy and Physiology in high school, psychology in freshman year, and now in marketing; it's fascinating how it can be intertwined with so many different subjects. I also love how Maslow was able to condense all of the needs of the normal human being into 5 levels, ranging them from most important to least important. Another concept that I found to be interesting that we didn't discuss in class was NAICS, or the North American Industry Classification System. NAICS is a classification system that was made to replace the standard industrial classification system to classify North American business establishments by their main production processes. The last concept that I found to be interesting was the calculation to measure online success. I never knew that there was an actual way to measure online success, but now I know businesses use Google Analytics and other web analytic sites. The measurement for a sites effectiveness is stickiness= frequency X duration X site reach, who knew?? Business use this stickiness measure for multiple different reasons that will help keep their business efficient and effective.
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