Week 7 Reading Reflection

I think the biggest surprise for me was the significance of how firms focused more on market segmentation versus customer needs to gear their marketing efforts. It would seem these firms thought identifying with their current market base would assist them in growing market share.

I was more confused by the continuous mentioning of segmentation being bad and good. Is this really the information he was trying to relay or just the point of the reliance of segmentation is bad?

One question would be, market segmentation information should be re-evaluated how often and in conjunction with keeping the pulse on the customer (new and current)?

Is it necessary to gain assistance from outside firms to complete market segmentation or can the firm complete this themselves?

I tried to find any part of the reading that I disagreed with the author, but because of previous marketing classes and what we have continuously been advised in this class, I could not find anything I disagreed. You cannot just be reliant upon market segmentation and hoping to identify with those you are marketing and hope your product will sell. You have to stay abreast on what your customer needs are and what they currently do not like about what your product or a competitor product offers. As times changes, the product offering has to be relevant.

Free Money

I was apprehensive about this project and did a dry run (no recording) and took a friend to see what my results would be. I just wanted to give the dollars away as a random act of kindness and for someone to have a soda or coffee on me. I had four individuals take the dollar (one leary) and the fifth objecting to such because she was raised not to take money or anything from strangers. I would say this last individual was easily in her 60's.

So for my idea I bounced if I should ask a trivia question for a dollar or stand on a corner in a public place and just hand them out.

I chose to go to a place in which I thought the dollar would be most welcomed and that was at a Dollar Tree shopping center. I gave my dollars away with just one simple statement "just because you are you". Four individuals were appreciative and thanked me, one was a bit concerned and had a questionable look and said "no thank you", I still kept the dollar out and said,"no, please take it just because you are you and have a good one".

In all five attempts I was successful in giving the money away. I approached more with confidence in this run versus the dry run. I had a smile on my face and feel this conveyed warmness. It took me 47 seconds to complete this one versus my dry run.

Elevator Pitch No. 2

Here is my second attempt at a pitch and I completely rewrote it. I did not really receive any feedback that really had to do with the presentation of the pitch, but more so regarding my idea. I have tried to clarify a few things in this pitch.

Any feedback on this presentation is most welcomed. It can only help me improve, so no hard feelings.