These reviewers seem to be fairly young, maybe in the 20’s-30’s age range. For the most part they seem to be people that are familiar with their local surroundings and are active online. None of the 4 reviewers had reviewed only on business, and in fact one has over 230 reviews. This seems to reflect that they were not people so incensed by a single experience that they were driven to write an online review, but rather are people who review most places they go to. The two men who wrote reviews are far less active on yelp than the two women are and the only positive review of the four was from one of the men.
The main complaint seems to be customer service, although quality relative to price would be a close second. Overall, this nail salon has a terrible online buzz with comments ranging from the place was unfriendly to the place was scary.
For the most part, these people seemed to be split by gender on their motivation to write the reviews. The two women are both regular contributors to Yelp, one has 65 reviews and the other has 238. This shows that they probably didn’t write the review simply because they were angry, but because doing this sort of thing is part of their regular routine. The men on the other hand have written 12 reviews and 15 reviews. Doug, the user that has written 15 reviews, was the only positive reviewer and the review was short with no specifics. It almost seems like he has an affiliation with Hollywood Nails and Spa and just went on Yelp to provide a good review. The other man that wrote a review is not a regular user on Yelp and most likely wrote the review because his experience was so negative.
The apparent motivations seem to be to inform others and to warn them before other consumers stubble into this particular nail salon. One reviewer simply states that Hollywood Nails and Spa isn’t worth the money, but two others go much further and actively try to dissuade people from going. As far as hidden motivations, I think that Walt was blowing off steam a little bit with his negative review and Doug may have gotten lucky with his experience but as he was the only positive review in a sea of scathing reviews, it seems a little suspicious.
Most of the reviews for Hollywood Nails and Spa were very negative and could be a potential problem of in finding new customers. Seeing as we are smart marketers now would be the time to engage our customers and develop a more personal relationship. Who are we or what have we become would be the first question asked in developing a new movement for Hollywood. Like Brian Solis said “give it a person, personality, voice, and presence”. Right now this company has a presence and a personality which people are not satisfied with. How do we change that, well good thing we are the owners and we can take action at our salon.
From what we learned by listening to our previous customers is that the salon is a bit frightening and it seems that the customers are seen as dollars. Being a salon tends to demand a more personal approach to each customer and make them feel more like your friend instead of client. In order to change this it must begin with management. They have to take the first step in making the clients feel like part of the Hollywood Nail and Spa family. If the current management can not accomplish this then new management must be hired. Now that the atmosphere has changed it time to engage the customers.
Word of mouth would be the strongest tool that is used if a better experience was encounter by the customers. Employees would also be another great tool to engage customers online. Employees should take the time to get personal with the customers in which a friendship could be developed as opposed to being another manicurist. Making that connection could potentially lead to engagement online such as Facebook or Twitter. Once that connection is established Hollywood Nails is making its presence online through employees. Facebook would be used to promote the company and also develop a sense of belonging with the customer. With the permission of the customers we would post pictures of them on our page as to market our products and services. By doing this you would make the customer feel like a part of something, and by involving them it will encourage the customer interact more.
http://www.yelp.com/biz/hollywood-nails-and-spa-dallas
Solis, Brian. Engage!: the Complete Guide for Brands and Businesses to Build, Cultivate, and Measure Success in the New Web. Hoboken, NJ: Wiley, 2011.
Frances/Reviews
We decided to look at the reviews from the elites’ of Yelp to get more trusted and in depth opinions on Frances, a newer restaurant to the San Francisco area. Yelp’s elite squad is comprised of “Yelpers” with a high quantity of quality reviews that applied and were selected by Yelp. The reviews for Frances are generally good with an average rating of 4.5 out of 5. We decided to look at a 2, 3, 4, and a 5-star review from the elites’ and wanted to critique a 1 star review, but no elites’ reviewed it as such.
These reviewers, being elites’, are people who are passionate about getting their opinions, suggestions, and complaints read by as many people as possible. Judging by each of their pages, they all thoroughly enjoy food and have reviewed several restaurants. Most of the reviewers are from San Francisco (where Frances is located), but there are also many reviews from people around the world.
Common complaints that showed up in most of the reviews stated that there was a lack of space, long wait time, overcrowding, and below par house wine. The 2-star review by Jean K. said that the small restaurant had lost its neighborhood feel because it was “packed”. One reviewer, Helen T., claimed that there was a 3 month waiting period for reservations for dining room seating and she had to wait for an hour and 10 minutes to get a seat at the bar.
One of the reviewers, Nancy L., put on her profile “I yelp because I care”. This statement shows the passion of the selected reviewers. To reiterate our previous point from the second paragraph, these reviewers want their opinions heard so they can help people make more informed decisions about whether or not to go to this restaurant. A hidden reason a person may post a review about a restaurant is if they had a bad experience at the restaurant, they may want to keep as many people from going to that place as possible.
A marketer that wanted to take advantage of these reviews could gather that the restaurants customer base/ demand for seating is too large for the location. This presents an opportunity and a complication. Frances has the opportunity to expand to a larger location but risks losing more of the neighborhood feel and losing some of the local regular customers if they change locations. With the large amount of highly rated reviews by customers, it seems that Frances is meeting most of the wants and needs of their customers.
http://www.yelp.com/elite
Week 13-15
1) The links will take you the Yelp website pages of various businesses and consumer reviews. The reason I picked Yelp is because most businesses listed on this site are local small businesses. So good way to comprehend the strategies.
2) Pick the top 4-5 reviews, read them. Also, if you click on the reviewers' names, you will be led to their personal profile pages.
3) Now, read the reviews, take note of the profile pages, and reflect on the following questions:
a) who are these people? Where do they belong (go beyond their city of residence; we know that already)? These people are from their local areas of where the business is located.
b) What is their main complaint(s)? Complaining about how expensive the nails salon is and how it doesn’t take longer than 20 minutes to wax someone’s eyebrows or even get a pedicure for 30- 40 minutes.
c) What do you think motivated them write such an extensive review? (especially considering the fact that you and me typically don't do the same even when we are thoroughly satisfied or dissatisfied with the products that we consume. These people wrote such a big review because their mad and angry like I would be if I were them. I don’t want to sit and wait all day to get something done that should only take the minimum. I know businesses get busy at times, but lots of nail places have about 40 people working at the same time.
d) What are the most apparent and some hidden motivations? These people are complaining for the safety and time consuming of others. Obviously this nail salon isn’t very careful of what they are “good” at.
4) If you are a smart marketer (which you are!) (lets say the owners of the businesses listed on the respective pages), how do you deal with this information? What are your courses of action? More importantly, how do you engage with these potential 'influencers' so that you develop a steady stream of a positive feedback/WOM loop that will stay online and attract other consumers? If this was my business, and I had customers complaining about what’s going on in my business, I would call or contact these people and ask them how to better my business, or even read what their complaining about and start with that and fix that so that the customers see improvement. I would also ask them to reconsider coming back to the business and giving them a more relaxing time then the previous.
2) Pick the top 4-5 reviews, read them. Also, if you click on the reviewers' names, you will be led to their personal profile pages.
3) Now, read the reviews, take note of the profile pages, and reflect on the following questions:
a) who are these people? Where do they belong (go beyond their city of residence; we know that already)? These people are from their local areas of where the business is located.
b) What is their main complaint(s)? Complaining about how expensive the nails salon is and how it doesn’t take longer than 20 minutes to wax someone’s eyebrows or even get a pedicure for 30- 40 minutes.
c) What do you think motivated them write such an extensive review? (especially considering the fact that you and me typically don't do the same even when we are thoroughly satisfied or dissatisfied with the products that we consume. These people wrote such a big review because their mad and angry like I would be if I were them. I don’t want to sit and wait all day to get something done that should only take the minimum. I know businesses get busy at times, but lots of nail places have about 40 people working at the same time.
d) What are the most apparent and some hidden motivations? These people are complaining for the safety and time consuming of others. Obviously this nail salon isn’t very careful of what they are “good” at.
4) If you are a smart marketer (which you are!) (lets say the owners of the businesses listed on the respective pages), how do you deal with this information? What are your courses of action? More importantly, how do you engage with these potential 'influencers' so that you develop a steady stream of a positive feedback/WOM loop that will stay online and attract other consumers? If this was my business, and I had customers complaining about what’s going on in my business, I would call or contact these people and ask them how to better my business, or even read what their complaining about and start with that and fix that so that the customers see improvement. I would also ask them to reconsider coming back to the business and giving them a more relaxing time then the previous.
New and Old P’s
The 4p’s of marketing still have their place. If they did not work as well as they did they would not have been around as long as they have been. One of the main changes for the 4p’s in a networked world the addition of more ps. Price, Product, Promotion, Place are the original 4 p’s. According to Frank Feather, the author of futureconsumer.com, there should be two more p’s added, Personalized Service and Profound Experience.
Price has changed quite a bit because of the Internet. Frank Feather gives credit to bidding and auctioning sites. Also, there is competition between websites vs. websites and websites vs. older methods (stores, catalogs, direct mail).
Between all of these different ways to shop companies are trying to offer lower prices.
With Products more and more people want customized products. A very good solution is to mass customize products. The Internet is an easy way to figure out what consumers are looking and avoiding in products.
Promotion is changing fast. Figuring out how to connect with consumers is a vital key Promotion. Not only do consumers want the company to show them products they also want the companies to listen to them. Many online shopping websites have blogs where their customers can voice their opinions and talk about the products. Uniquevintage.com, a clothing website that offers different era inspired clothing, has taken advantage of Facebook and blogs. They show products and give updates on sales on their Facebook page and on their blog they have many articles about their clothing and offer advice for their customers.
One of the best Places to have company products now is the Internet. It allows more people to see products and it gets the word out faster.
Personalized Service would go hand in hand with promotion. The Facebook and blog example of uniquevintage.com would be a good example of personalized service. This company interacts with their customers through their blog and Facebook.
A Profound Experience would go along with the fact that this company does give advice to its customers. This company also provides a physically location for those whom do not like to shop online. Another neat feature the website has is a personal welcome to the customers from the company right on its home page.
If more companies could use the old 4p’s in a new way they could be more successful and reach many more customers than they could imagine.
week 1 blog post
The basic principles of the 4 P’s of marketing have stayed relatively consist over the past few decades. We still have a product we must price, place, and promote. The methods of applying the 4 P’s have changed and are changing as we advance in technology. These changes are caused from the vast quantity of free information, the way companies now develop products, determine influences on setting prices, establishing placement method, and the application means of promotion are nothing like what they were 10 years ago let alone 50 years ago. We still have the 4 P’s of marketing and a company still must have a product, understand how to price it, know where to place/distribute it in the market, and most of all understand how to promote the product, but we now have to take into account the consumers needs, and motivations.
Where once a retailer could purchase goods and sell them off the shelf setting a fair mark up and advertising in the Sunday paper. Today the consumer demands to have the best price, easy access in the store or on the web, home delivery or in store pick up, receive email advertisements of upcoming sales, messages on their phone for bid closing, and a smorgasbord of other technology based information. The 4Ps are defiantly applicable but their applications have changed.
Today having a product that people want and can use is now easier and cheaper than ever. The hard part is getting age old companies to apply new techniques to achieve these goals. Social media is definitely the easiest way of moving forward in this area. Depending on the product a company could quite literally receive feedback almost instantly through social media sites on their product. Customers could list gripes and complaints on what they liked or disliked about the product. Companies could use the input to create better products that will be used by customers instead of products that will collect dust in warehouses or peoples attics. With social media the information gathered could be virtually free as long as the company appears to be carrying on a dialog with its customers and showing them that they truly care about what their customers’ needs and desires are, and what it takes to fulfill those needs.
Through technology and our networked economy the process and input for product is quickly changing. Once companies used methods to develop products that utilized a few people from the company who brainstormed on the next best thing or product that the consumer would have to have, or maybe subcontract the task out to another R&D company. Now today with our networked world and easy access to information companies have the ability to utilize power of the consumer for R&D. By utilizing the consumer companies can go directly to the source and forego some of the guess work on what the customer wants.
Social Media 4P's
Social media has offered a way for consumers and peers to take charge of their lives, the people in it, and the products that they use. The takeover of social media has shifted marketing and caused managers to completely reconsider the focus of their jobs. Consumers are so actively involved in every process and all the 4 Ps now, and are every bit more knowledgeable. Information no longer has to be searched for manually or physically, now it is so readily available all in one place and infinitely helpful or harmful.
Product, Price, Placement and Promotion are the fundamental mix in marketing but however now I think that a few more Ps can probably be added to that mix due to social media. The first P that we can add is people; this is the most essential part of the marketing mix now because people are in control. People know that they can be heard now through reviews, blogs, and any form of media over the Internet and they are determined to get their opinion out. This isn’t a bad thing, however, because now those opinions are instantly available to marketers and product producers and more than likely its only going to help. I think it is so important to utilize this aspect and analyze what is being said and find ways to change the negative and enhance the positive. Allow people to be your research and development team with social media.
The second P I would add is Platform. Platform can most directly be related to your target market. Twitter and Facebook are your initial thought when you hear the words social media, but there are many more platforms that can advance your product or service. The solution is to find out where your target market is hanging out at, just because you upload a video to YouTube, or start a Facebook account doesn’t mean that people will check it out. There is more than that, it has to be interactive and there has to be synergy with other forms of media such as basic forms like television ads, email, billboards etc.
The last P would have to be participation. People are telling you their opinions and their problems and it is just as important to communicate back and let them know what your doing to fix problems and that you appreciate their feedback. Be actively involved, post blogs, update statuses, reply to forums etc. Engage in the social media community, participate and create relationships and trust with the customer. Give customers rewards for posting reviews or ‘liking’ your page, create a good campaign that will give consumers something to do and talk about.
Social media is a great thing and very powerful if used correctly. Marketing managers often don’t dedicate enough time and energy into social media and it will be a mistake that could seriously hurt a business. The future holds this type of interactive relationship marketing and it is important to learn about it and engage!
sources: Engage! by Brian Solis
"THE OTHERS"
Technology is constantly changing, therefore the 4 P’s of marketing are also changing and must keep up with the current times. Peter Drucker said, “Don’t solve problems, seek opportunities.” (Twelve Principles of the Networked economy, Kelly). In a world where a network economy is constantly changing and evolving, it creates exciting opportunities for companies to grow and seek out new opportunities to accomplish success in inovative ways. We are in an era in which new technologies are constantly being presented and if companies look for the opportunities within these new products and ideas, they have the potential to reach more consumers and potential consumers which can help them monopolize more of the market share.
Managers are always looking for new ways to enhance their product and gain a competitive advantage over competitors and as Kelly says, “value is carried by abundance, rather than scarcity...” Businesses have made a big step in reaching out to customers in more ways making it easier for customers to reach them with questions on products or even shopping for them. People no longer want to put effort in seeking out new potential products to consume. They also want to have their needs met immediately. The fast pace society in which we have become accustomed to no longer involves a large amount of time seeking out information on products. It is expected that they are presented to us quickly when we need them. The way in which we have evolved as consumers has put pressure on companies to deliver fast information, and instant gratification. Many companies are seeing this as a daunting, yet exciting challenge to reach their consumers. Companies are very successful and are finding that more consumers reach them much easier. A good example was the BestBuy example used in class, the twelpforce. Making a 24 hour service availble to consumers allows them to be much more satisfied with the product and the quality help offered also creates more loyalty to the company. It gives consumers a connection to the company.
If companies can create and establish this connection with consumers, it creates loyalty to their brand. So what about the 5th P? We have always studied the 4 P’s yet what about the 5th? It is the idea that in this networked economy a company can create innovative ways to reach out to consumers and give them satisfaction yet also being able to establish feedback as well. This creates PARTICIPATION. When a company can motivate or facilitate participation from the consumer, they are able to gain feedback, instead not from a board of directors from the company, but from the person who is actually buying and consumer the product. This participation created by the new networked economy helps companies benefit from hearing feedback which can help generate for success within a company.
Week 1: Sept. 6-8
The four P’s of marketing: price, promotion, place, and product have been used through time to assist any kind of business or company strategically try to find the best fit for their product into the ideal market for them. The importance of having such strategy, as the four P’s, can be the key to a change or boost in the predicament a company may find themselves in. The idea of promoting a product is strenuous, in the fact of, considering everything that needs to be considered in the process of promoting. These needs are exactly what the four P’s have addressed in a method to help connect the dots in marketing. Over time these tools have become more advanced through technology. In this case, customers and consumers are able to communicate more efficiently to understand what each other is looking for in a product or service. The difference years have made is the overall speed in which we are responding to each other is almost instantly. Many companies offer their assistance 24/7 to consumers needs. In a way, this has made it easier for marketers to feed off of what their consumers are saying in a faster manner.
In a networked world it is all about the connection, so I have to say that the internet the reason why being connected is easier. Many people are needy for information, the faster and easier they can get it the happier they are. Which is why managers have changed their techniques for planning the four P’s to adapt to their consumers. When a product or service is being presented by a business it typical way may be through the internet. These tasks could go through email, facebook, twitter, and etc. If a consumer show interest in a product the company is then able to go forth and keep their consumer aware of any new product through these sources consumer may give to them. A marketer can plan the whole process of product development through the internet.
One implication of how the networked world has affected the planning could be the act of introducing a product of the basis of feedback. A general example would be an existing product that has received quite a few feedbacks, some may be applauding and others may express what they wish they could add to your product. In this case, you may build off the feedback received and venture off from that or improve for the future. Feedback has changed because a high percentage of people have access to the internet, therefore, there is more feedback for these companies to see, and whether it is good or bad there is more of it for people to set their own judgment. Typically, when a customer would like to purchase a product, a little research goes into the process, in which, a customer has the ability to view the feedback. This tool makes it easier and faster for consumers to research efficiently before they consider buying.
One example the changes of product development has on a company is TOMS. Over the last five years that this company has been in business they have been able to promote not only a great product but an even better message. TOMS shoes were not offered in stores in the beginning because of the lack of staff they had to make the shoes, so this company started off as online based only. The first products introduced by TOMS were shoes, their motto was, “One for One.” What they mean by this is, for every pair of shoes purchased, a child in need would also receive a pair of shoes. From being entirely based on the internet, to know selling in numerous department stores, and also online, TOMS has made themselves quite a name.
Refrences
http://amarillo.com/news/local-news/2011-04-06/students-bare-their-soles
http://www.toms.com/blog
In a networked world it is all about the connection, so I have to say that the internet the reason why being connected is easier. Many people are needy for information, the faster and easier they can get it the happier they are. Which is why managers have changed their techniques for planning the four P’s to adapt to their consumers. When a product or service is being presented by a business it typical way may be through the internet. These tasks could go through email, facebook, twitter, and etc. If a consumer show interest in a product the company is then able to go forth and keep their consumer aware of any new product through these sources consumer may give to them. A marketer can plan the whole process of product development through the internet.
One implication of how the networked world has affected the planning could be the act of introducing a product of the basis of feedback. A general example would be an existing product that has received quite a few feedbacks, some may be applauding and others may express what they wish they could add to your product. In this case, you may build off the feedback received and venture off from that or improve for the future. Feedback has changed because a high percentage of people have access to the internet, therefore, there is more feedback for these companies to see, and whether it is good or bad there is more of it for people to set their own judgment. Typically, when a customer would like to purchase a product, a little research goes into the process, in which, a customer has the ability to view the feedback. This tool makes it easier and faster for consumers to research efficiently before they consider buying.
One example the changes of product development has on a company is TOMS. Over the last five years that this company has been in business they have been able to promote not only a great product but an even better message. TOMS shoes were not offered in stores in the beginning because of the lack of staff they had to make the shoes, so this company started off as online based only. The first products introduced by TOMS were shoes, their motto was, “One for One.” What they mean by this is, for every pair of shoes purchased, a child in need would also receive a pair of shoes. From being entirely based on the internet, to know selling in numerous department stores, and also online, TOMS has made themselves quite a name.
Refrences
http://amarillo.com/news/local-news/2011-04-06/students-bare-their-soles
http://www.toms.com/blog
Industry Change (PNB)
It is evident that the 4 P's have changed drastically though all industries through the advancements in social media marketing. There are many companies that have lost jobs as well as many companies that have created jobs to adapt to the changing environment. In this post Team PNB will focus not on the 4 P's as it has effected all industries; but how it has effected one quite dramatically.
Corporate airplanes have been used by individuals, corporations, presidents, and families since the 1940's. Up into the 1990's the only way to find a plane was to either A. go to the factory and buy a plane off the assembly line(if the purchase was a brand new plane). Or B. go through an aircraft broker. This puts all 4 P's into one of two places. There are many different factors that go into the purchase of a new or used aircraft. When many people think of airplane purchases, they only think of buying the aircraft. The "networked world" or Internet has allowed people to gather information about any type of equipment as it relates to their purchase.
Although the aircraft market is a very niche line of sales, individuals are able to explore the vast market of aircraft for sale. Websites have been created that allow people to shop for aircraft by type without the broker(websites below).
The websites have also allowed sellers to sell without the use of aircraft sales companies. Although these companies still exist, business is not thriving as it did it in the past.
Other companies that have taken advantage of the aircraft selling/purchasing process include the equipment companies such as Garmin. Garmin equipment is found in cars, airplanes, helecopters, boats, and many others. They have used satellite technology that get their products into many different products across many markets. Garmin contracts with producers to get their equipment into the other industries' new product sales. Because of the highly recommended Garmin products, aircraft producers put Garmin' products into their aircraft consequently raising the price of the aircraft. The strategy helps promote both industries.
When it comes to the 4 P's. Product has not changes dramatically. Aircraft are still being bought and sold on a regular basis. Companies that put their equipment into aircraft are still using the same strategy to get their product into the aircraft. Price has been slightly effected. Because the information is there for all to see and available for everyone, the prices have slightly declined. The economy has greatly changed the price of aircraft; however, that is a discussion not related to marketing. Promotions have always been present in the market and will always be in the market. Individuals are able to watch the price of particular aircraft change by using the websites stated below. The negotiations always happen and asking price always may differ from selling price. Placement is the "P" that has changed most dramatically. It has created a situation that has led to the disappearance of many jobs in the aircraft sales industry. Aircraft brokers have become obsolete with the establishment of the Internet and expansion of aircraft marketing.
www.controller.com
www.aso.com
www.airplanetrader.com
Corporate airplanes have been used by individuals, corporations, presidents, and families since the 1940's. Up into the 1990's the only way to find a plane was to either A. go to the factory and buy a plane off the assembly line(if the purchase was a brand new plane). Or B. go through an aircraft broker. This puts all 4 P's into one of two places. There are many different factors that go into the purchase of a new or used aircraft. When many people think of airplane purchases, they only think of buying the aircraft. The "networked world" or Internet has allowed people to gather information about any type of equipment as it relates to their purchase.
Although the aircraft market is a very niche line of sales, individuals are able to explore the vast market of aircraft for sale. Websites have been created that allow people to shop for aircraft by type without the broker(websites below).
The websites have also allowed sellers to sell without the use of aircraft sales companies. Although these companies still exist, business is not thriving as it did it in the past.
Other companies that have taken advantage of the aircraft selling/purchasing process include the equipment companies such as Garmin. Garmin equipment is found in cars, airplanes, helecopters, boats, and many others. They have used satellite technology that get their products into many different products across many markets. Garmin contracts with producers to get their equipment into the other industries' new product sales. Because of the highly recommended Garmin products, aircraft producers put Garmin' products into their aircraft consequently raising the price of the aircraft. The strategy helps promote both industries.
When it comes to the 4 P's. Product has not changes dramatically. Aircraft are still being bought and sold on a regular basis. Companies that put their equipment into aircraft are still using the same strategy to get their product into the aircraft. Price has been slightly effected. Because the information is there for all to see and available for everyone, the prices have slightly declined. The economy has greatly changed the price of aircraft; however, that is a discussion not related to marketing. Promotions have always been present in the market and will always be in the market. Individuals are able to watch the price of particular aircraft change by using the websites stated below. The negotiations always happen and asking price always may differ from selling price. Placement is the "P" that has changed most dramatically. It has created a situation that has led to the disappearance of many jobs in the aircraft sales industry. Aircraft brokers have become obsolete with the establishment of the Internet and expansion of aircraft marketing.
www.controller.com
www.aso.com
www.airplanetrader.com
The network to Your career!!! (team terrance)
Terrance
The networked economy has changed marketing in a numerous amount of ways. One very important change it has made is toward the four P’s, which are product, place promotion, and promotions.
For one, the Product hasn’t really changed as much as the other three P’s have. The main change that I see has come about from networked economy about product is the fact that more products are able to come about due to the network. For example facebook and myspace are networks that have become products and they have made a lot of money from being social networks. Another way the product has changed is by the information people get about your products. People can now view blogs or message boards about products before they decide to purchase them, and this can either increase or decrease the chances of a product being chosen.
Promotions have changed very drastically. It seems as if promotions are everywhere ad anywhere now. You can still get your average promotions from the radio and TV commercials but the promotions have moved to broader sections. Ad campaigns are now on the internet more than ever. You can find sales promotions in your emails, and your daily websites have pop up ads and promotion tools bars. So for me promotions have changed in a bad way because they are over whelming consumers more than they should be.
The place has also changed very much. The place doesn’t just pertain to states and stores and other locations where you can purchase products and information physically. The place has now turned into easier purchase ability but less efficient product satisfaction. You can now purchase things that you want online on the internet just like you can in the stores. In some situations you can only find products online because they aren’t sold in stores. For the most part the place has changed in a good way but sometimes when your purchase online you don’t really know that the product you are getting is going to be as good as it looks.
Price is also changed by the networked economy. For one the internet has given consumers the advantage on product information over businesses therefore the price of products has to come down some. And also prices are already cheaper when you buy them off the internet instead of in the stores for the most part. Another way it has changed is by middle me being cut out of the equation because the internet provides an almost direct transport from producer to consumer.
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