Week 7 Reading Reflection

Rediscovering Market Segmentation

1. The biggest surprise to me was that consumers are more influenced by their personal values, tastes, and preferences than the demographic population. The part about their preferences to what they liked didn't surprise me but that it was different than the overall because you would think a lot of people would buy what others buy since that's how trends begin.

2. What confused me the most was the fact that people would buy products from companies based on what they'd offer emotionally like sex appeal and increased status than the actual usefulness of the product.

3. What would be the first type of advertising you would use to attract consumers? I'd like to know a list of what would be best and when.

So you're saying that the most useful way to appeal to age groups would be to us what they sue the most, like insurance for diseases as you grow older, alcohol to the youthful, etc?

4. I feel as if though developing an entire new model product should be considered one of the deepest decisions and not the middle-of-the-spectrum decisions. If you're going to change your product, then you basically have to change the way you advertise it, who you choose to segment the product for, where to position it, the whole business as to change it's position, a lot of the time.

Elevator Pitch No. 2

The Pitch: 

G.R.E.E.N.

(Green Research in Ecologically Enhancing Networks)  

     My idea is to create a company in which produces green products that can combine your everyday necessities with green concepts hence the name G.R.E.E.N. meaning Green Research in Ecologically Enhancing Networks.  We would use environmentally friendly resources that are both cheap and easily recyclable or biodegradable such as Aluminum for metal and biodegradable polymers for filters, packaging, you name it. For our first concept we would like to introduce the Potter Spotter (name in pending) which will make use of your phone and any type of plant you may have. The phone would be placed on an adjustable platform that would connect to an aluminum container with enclosed water and the plant placed right under it. Now instead of forgetting where you place your phone and having no place to put your phone when your studying or going to sleep you can place it on the Potter Spotter (name in pending). When your phone vibrates for whatever alarms you set, the vibrations will navigate though the aluminum bars and shake the canister full of water which will cause the water inside to drip through the biodegradable filter and water your plant. This is just a beginning design an will surely improve as will others green concepts.  

A reflection on the feedback you received from last pitch:
I have no feedback from my last pitch but what I can tell you is that I was influenced by the feedback other pitches have gotten. I should speak slow and clearly while giving coherent pitch on my company and product/products while also being somewhat presentable. Also, having something to show for my work instead of just talking about what I'm doing helps immensely for the viewer. (Approved by Dr. Pryor)
A reflection that I could do that I know people would talk about would be my speech and my eye contact. I had a whole pitch laid out because I'm terrible with coming up words on the spot and I talk way too fast. In this video I tried to talk slower than I usually do but I could definitely improve upon it as well as making more eye contact with the camera as it would how that I am more confident and ready to present my Elevator Pitch.

What did you change, based on the feedback?
At the moment nothing has changed since this is my first Elevator Pitch but since I accessed the feedback from other pitches I have developed my pitch better than what it would have looked at additionally.