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.