Week 2- DDP Yoga and Chapter 4

This week we had our joint meeting with the engineering students. During this meeting we selected which bugs would be used for our smart projects. Then, we created our groups and met with them for a bit. My group is the ok to drive project. We will be making a breathalyzer attached to a locker at bars and clubs so that people will need to pass the test before getting their keys and other belongings. I am excited to work on this project with my group.

This week we also looked at our mind maps during class. We went around and looked at everyone's in a gallery setting. We also watched a shark tank episode about the company DDP Yoga. This company wasn't picked by any shark but overall it has been very successful. Their market is anyone who wants to get into shape or wants to workout. It is based around hardcore yoga that makes it more intense. Their product is a yoga exercise video that is being sold online. Their competition includes the many other exercise companies. Their promotion tactics include the story about the man whose live was changed by this product. The youtube video was very popular and attracted a lot of attention towards their product. This shark tank episode relates to chapter four, which we also discussed this week. Chapter 4 was mostly about the environment of marketing and how to be most effective within different groups. DDP yoga figured out that connecting their product with real life stories and showing how the product has changed people's lives is an effective way for them to market.

Week 1- "How in the world are you going to compete?"

     In our first week of class we discussed Peter Drucker and his impact on Marketing. Peter Drucker had these ideas long before anyone else understood that this was how Marketing worked. We learned that Drucker said, "The purpose of the business is to create and keep a customer." We also discussed how a business has two basic functions, marketing and innovation. Another thing we did this week was watch a shark tank episode.
     A major part of our first week was watching the shark tank episode on Kalyx Bras. In this episode, Kayla showed her business, Kalyx Bras. During her pitch she was asked by Robert, "How in the world are you going to compete?" He asked this because the sports bra market is completely dominated by larger companies such as Nike, Champion, and Adidas. However, I think that in terms of exchange and consumer needs, Kalyx could compete. The major issue for her is entering the market because of the intense competition. Kalyx offers many values such as motivation, design/aesthetics, wellness, attractiveness, and it avoids hassles. Kayla states that the fact that the bra reduces motion and makes working out more comfortable for women. The problem is that for the most part, Nike, Champion, and Adidas provide these values as well. So it is very difficult for Kalyx to compete because of the fact that Nike in particular already meets most of the consumers needs and so it will take more than just more comfort for consumers to change their minds about their sports bras. In order to compete, Kayla would have to convince her consumers that the extra value of comfort her bra adds is important enough for them to change their loyalty.

Introduction

Hello,

     Welcome to my blog for my Marketing Concepts class. My name is Chad Parent and I am a Freshman Sports Management Major at Western New England University. I went to Frontier Regional High School in Deerfield, Massachusetts. I will use this blog to post weekly throughout the semester about this class.

Thank you,

Chad Parent