Week 9 in Review

     Spring break was nice but it is nice to be back in class again.  This Tuesday we talked a lot on chapter 16 and we also watched another Shark Tank episode.  The product being pitched was Balm Chicky Balm Balm whose thing was the "Friend End" of the stick for other people to use.  The Sharks determined that the product would not fair well in the market because the product really only had a market in the adult novelty category.  We used this episode to help us with our SMART Project to determine market research.  We then started our discussion of chapter 16 by writing down questions.  We then placed these questions in a hat to be randomly asked to our peers.  Because I came in late, I was on the chopping block as one of the first people to draw a question from the hat.  I ended up going second.  I actually drew my own question which I found funny.  I picked Stephanie's name out of a cup and she answered my question.  Luckily she knew the answer because I really had no clue.
     On Thursday, we started with the questions again.  Some of the topics covered were advertising, paid, earned, and owned media, and why companies who are on top spend the most money.  Proctor and Gamble, for example, spends 5 billion dollars on advertising which works well for them.  I feel as though spending large sums of money on advertising works for big companies but smaller ones can't keep up the big spending.  Smaller companies need to do the most advertisement so early adopters start buying the product.  Using social media is a good way to get your product out there.  Facebook and Twitter are good ways to get free advertisements and companies can even pay a small fee to have their company advertised on social media.  After talking about this we started talking about the communication process.  We then got a paper and watched Pepsi commercials in order to find out how they communicated to drink Pepsi.  We even watched a foreign commercial and it was very easy to see the message despite being in another language.  We also watched a Coke commercial to look how Coke communicates.  We found that the Pepsi commercial was aimed towards women who are in there 20s and 30s and the Coke commercial was aimed towards couples and young people.  Thanks for reading!