Free Money

Before giving out these 1$ bills, for free, no really, for free I had to decide a few things to set up. I chose Campus Lodge (my complex) as the location. I will do it randomly and approach the first people i see. I would initiate the conversation by saying the dollar was a initiative to build brand trust by the complex management. I then would make small talk, and say polite stuff. I anticipated giving away maybe 3 of the 5.

In the end my guess was actually right, 3 out of 5 accepted the free dollar. I didn't know that some people really had some type of trust barrier or buyer beware mentality. It was harder than I would think. It gives you a new perspective on consumer behavior and how faceted the whole marketing segmentation process really is!

Week 7 Reading Reflections!

Rediscovering Market Segmentation: Daniel Yenkelovich and David Meers, Harvard Business Review 2006

Overall this article exceeded my expectations. I came just assuming paragraphs of summaries and graphs or an occasional research study, but this write-up was incredibly in depth and full of examples. In particular, I was interested in the section claiming the widely popular and comprehensive method of market segmentation was actually very disappointing in ratings of real value by executives.

Perhaps one part that left me a little confused was the paragraphs explaining the the notion of "levels" of segmentation that layered the target marketing process. It really makes the idea more complicated when you think about it.

Two questions I would ask the authors given a chance would be:
"In your opinion what might other scholars try to argue with you on?"
"How extensive was it compiling all this information?

In the end, I wouldn't know if they were necessarily wrong about anything. I do think it was somewhat editorial and subjectively written. It is definitely backed up with study and evidence but you can tell the authors feel a certain way on topics.

Elevator Pitch No. 2

 Thanks to the lovely commenters, I started thinking about a few things that could be done to make the planning process of JUKEBAUX even better. I began to utilize my interviews and similar product reviews to determine my market, and I thought about the specifics such as design and potential pricing.

As far as my pitch, I honestly didn't change much if anything. I think I paused on a word or two, but hey who's perfect? Talking is literally on my top 3 favorite things, so keep the assignments like this coming Mr. Chris Pryor!


 If I could leave you all with any piece of advice it's this: Life is too short to worry about the small stuff. If something has you down, angry, confused, stressed, take a moment to stop everything. You have a purpose, you have a choice, you have a talent. Stay focused on where you want to be, not so much where you might be now. Get out there and Be Great Today. :)