For my final blog report i will go over all the things that my intro to marketing has tough me over the 16 weeks i have been enrolled in the class.  The first objective that was expected of me was "To examine and convey basic and emerging marketing concepts and terminologies".  Some of the basic understandings that I have learned all have to deal with the consumer and how many influences go into the buying decision process. All consumers fit into different markets and different cohorts. These different markets and different cohorts all have different traits and characteristics. These different traits can help lead company's understand the wants and needs to a more specific population. Besides the characteristics of consumers, there are a lot more terms that have been tough in class. such as profits, sales, social media, mission statements, mission objectives, messages, and many more that have to deal with consumers and companies.    
     

     Another objective that is sought is " To study and understand the marketing mix, target markets, consumer behavior, service marketing, social media marketing and the strategic and financial implications of marketing decisions on the other functional areas of business". This objective was completed during the Practice Simulation. In this simulation all of the following was covered and learned. It covered target markets with separating the consumers into different groups such as commuters, college students, children, and trend setters. You were asked to pick a market and go after them. Each had different likes and dislikes and wants and needs. Social media was used in marketing campaigns in the simulation. It showed the importance of making decisions. Income statements and financial statements were also used in this simulation. These were very useful because it is something that real world companies needs to do. Having an understanding of excel and income statements will be very useful in the future.

  

      One object was  "To recognize the importance of the consumer and the vital need for consumer orientation on the part of all employees in all firms and organization". Marketing is not just understanding the consumer markets it is also understanding the company its self. When a company can be self aware in a market, they can succeed because they are able to target their markets they want to.

   One important issue that intro to marketing went over was the ethics of a business. There are going to many times where there will be a choice be a good or bad, morally. For example companies that buy items that are through fair trade are companies who make correct moral choices. Companies such as Patagonian are companies who are environment safe and morally right companies. 

  One of the last goals was to be a team member and work well on projects with other people and work well alone. The Marketing Simulation tough how to take other peoples opinions into a decision process. Individual projects were also important because it tough how projects need to be done and how to use time to your advantage in order to succeed.

  All these main goals were important in intro to marketing and all these goals have been completed in the 16 week period. It has turned the average student into a more conscious buyer and worker. In the business world, understanding markets and consumers help bring in more profits and a better view in the markets. This class has been a big a help in the business world and I feel like I have become a much more educated consumer and worker.    

Wholesalers Secret 

There are 6 levels to the Marketing Channel found in the picture above. Each step of this channel is a different type of dealer, and each has there own way of dealing with consumers. In the past 20 years there has started been a shift in how consumers are purchasing there daily needed supplies. Instead of relaying on distributors, consumers found convenience in shopping at a wholesale store such as a Costco or BJ's.  A wholesaler sell have control over the price of the products and are able to save money on packaging while maintain quality when selling directly to the consumer. It is a smart strategy that allows wholesalers turn a profit as long as inventory is being flipped at a fast rate. 

Companies such as Costco pride themselves on their devote and abundant community pf members. To enter a store such as a Costco you must has a photo idea card that you show at the entrance. The card is something you have to pay a monthly fee on and for Costco it helps keep prices down. To help with membership Costco teamed up with American Express Credit Card company. Now any member of American Express is a member of Costco. The idea behind this was that people who shop at Costco are people with families. Credit card companies know that families spend a lot of money and if the families who shop at Costco use there American Express card at Costco when they shop both companies profit.

Wholesalers like Costco over the past couple of years have grown very popular within the middle class of America. Members of Costco like the exclusiveness and the bulk of products they carry. Even the Costco brand Kirkland has become popular considering they make up about 20% of products in any Costco warehouse. Costco has control over the manufacture and distributor. This allows a greater margin for profit for Costco or any company that uses that model. 

Not all wholesale companies are stores that you can walk in and pick products off a shelve. A company like amazon is a online wholesale store where orders are put in and sent out by and to costumers. Amazon is extremely convenient for customers because it gives the consumer the luxury of shopping and never leaving the house. They have even followed in Costco's membership footsteps, yet Amazon will still allow non-members to place orders. Prime memers of Amazon and benefited with lower shipping and are given the access to tones of movies and shows online to stream of their website. Amazon has evolved to become more than just a wholesaler and has became a company that has many different markets and is worth over 8 billion USD.

The wholesalers are profitable because they have access to such an abundant range of products and they are able to flip the products at such a quick rate. The ability to control the prices and sales on certain items gives the company a upper hand over distributors.