Kimiye Westover on LinkedIn: #culture #subculture #socialclass #culture #subcultures #cultural… (2024)

Rock Bottom GolfMy marketing professor gave us a scenario of Rock Bottom Golf's promotional strategy highlighting a dynamic interplay between pricing methodologies and cost considerations. The company put up a $100 promotion on the driver golf club, bringing the price down from $399.99 to $299.99. Through Customer Value-Based Pricing, the company strategically positions its offerings below competitors' regular prices, aiming to resonate with budget-conscious golf enthusiasts. This approach underscores an understanding of customer preferences and market dynamics. Moreover, Value-Added Pricing is evident in their limited-time promotions, where discounts enhance perceived value, fostering excitement and urgency among buyers. However, beneath these strategies lies a foundation of Cost-Based Pricing, as evidenced by the consideration of total costs, including the cost of goods sold and fixed promotional expenses. While the $100 discount on the Tour Edge E529 Driver may temporarily decrease margins, it's a calculated move to drive sales volume and potentially offset fixed costs. Consequently, the analysis reveals the delicate balance between offering competitive prices, delivering perceived value, and managing total costs to ensure profitability amidst promotional activities. This is all to benefit the consumers and sellers in the best way possible.Tserennyam SukhbaatarTutehau Hunkin#byuh #golfmarketing #promotions #Marketingsales #Costbasedpricing #RockBottomGolf

Just finished the course “Social Media Marketing Foundations (2020)” by Brian Honigman! Check it out: https://lnkd.in/gNqAwkuR #socialmediamarketing.

Just finished the course “SEO Foundations”! #searchengineoptimization

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Just finished the course “Marketing Foundations”! #marketing

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Marketing with Excel DataWhile in my “Business 304” class I have learned quite a few things about how excel can be used for the enhancement of marketing. Utilizing an excel dataset consisting of ID, First Name, Year of Birth, Gender, Education, Marital Status, Income, Kids at home, Teens at home, Monthly Average Spent, Age, and Attitude Brand Score provides marketing teams with a robust foundation for comprehensive #marketingresearch. Firstly, this dataset serves as a valuable resource for #sampling strategies, enabling marketers to select representative subsets of the population for targeted analysis. Through segmentation based on demographic variables such as age, gender, education, and marital status, marketers can tailor their strategies to distinct consumer groups, enhancing the effectiveness of their campaigns.Moreover, the dataset facilitates the exploration of #secondarydata sources, enabling marketers to augment their understanding of consumer behavior and market trends. By analyzing correlations between variables such as income and monthly spending habits, marketing teams can uncover actionable insights to inform strategic decision-making. Additionally, the inclusion of Attitude Brand Score allows for the assessment of brand perception and consumer preferences, guiding the development of compelling messaging and brand positioning strategies.Furthermore, the dataset supports #primarydata collection efforts by providing a framework for survey design and questionnaire development. By integrating survey responses with existing data, marketers can validate hypotheses, refine segmentation strategies, and identify emerging market opportunities. Overall, leveraging this comprehensive dataset empowers marketing teams to conduct rigorous #exploratoryresearch, driving informed decision-making and maximizing the impact of their marketing efforts.Reading these facts and exercising this skill has made me a better marketer and smarter business person. I will continue to study and expand on these topics for the future company I work with!Tserennyam SukhbaatarTutehau Hunkin

Just finished the course “Marketing Foundations: Analytics” by Matt Bailey! Check it out: https://lnkd.in/gdsjpKyM #marketinganalytics.

Google VS FacebookThe question of which one is more successful may have crossed your mind before, but have you ever learned the answer? Looking at them from a marketing perspective, we can see that they each have their own unique strategic planning as well as business portfolio. To determine which company is performing better based on the provided data, we can assess various financial metrics. Here's an analysis:1. #Sales: Google has higher sales revenue compared to Facebook.2. #GrossProfit: Google also has higher gross profit, indicating it is more efficient in generating revenue after accounting for the cost of goods sold.3. #MarketingExpenses: Google's marketing expenses are higher than Facebook's, but this could be justified by its higher sales and gross profit figures.4. #NetIncome: Google has a higher net income compared to Facebook, suggesting it is more profitable after considering all expenses.5. #ProfitMargin: Facebook has a higher profit margin, indicating it retains a larger portion of revenue as profit compared to Google.6. #NetMarketingContribution: Google's net marketing contribution is significantly higher than Facebook's, which indicates that Google is able to generate more profit after accounting for marketing expenses.7. #MarketingROS (Return on Sales): Both companies have positive marketing ROS, indicating that their marketing efforts are contributing positively to their sales. Google has a higher ROS compared to Facebook.8. #MarketingROI (Return on Investment): Facebook has a higher marketing ROI compared to Google, indicating that Facebook generates more revenue for every dollar spent on marketing compared to Google.Overall, Google appears to be performing better in terms of absolute financial figures such as sales, gross profit, and net income. However, Facebook demonstrates better efficiency in terms of profit margin and marketing ROI. The choice of which company is performing "better" could depend on the specific metrics or financial goals being considered. If we had a full portfolio analysis we could get to the bottom of this, but that would take much more time. With both companies constant product development it’s hard to tell if any lead will change in some overnight success. In your personal opinion, who do you think is succeeding today? Tserennyam SukhbaatarTutehau Hunkin

Just finished the course “Digital Marketing Foundations”! #digitalmarketing

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The Taco Bell app serves Customer Relationship Management (CRM), where the app excels in forging meaningful connections with users. Through data analytics and personalized promotions, Taco Bell ensures that each interaction feels tailored to the individual, fostering loyalty and a sense of belonging. Everytime I go to Taco Bell I know exactly what I am purchasing and the quality it satisfies me to return again and again. With Aim of Marketing, the app isn't merely a tool for facilitating transactions; it's a vehicle for nurturing lasting relationships and driving profitability. By strategically leveraging the app's features, Taco Bell aims to attract and retain customers while maximizing revenue streams. Whether it's through exclusive deals or convenient ordering options, every aspect of the app is designed to cater to the diverse wants and needs of its user base. I know that it definitely persuades me to order on the app ahead of time because I can get an entire meal for less then $10 while in person getting all that same food could be double the price. Speaking of Wants, the Taco Bell app delivers on a multitude of levels, satisfying cravings for customization, savings, and convenience. Users are empowered to craft their ideal dining experience, whether they're customizing their favorite menu items or taking advantage of digital-exclusive offers. By tapping into these desires, Taco Bell creates value for its customers while differentiating itself in a crowded market. There are other restaurant options around my local Taco Bell but I chose to go there because it will be the cheapest option to satisfy my wants and craings. They also have a rewards program on the app where you can earn points every time you order. These points accumulate and give you a value menu item for free. The Market Offerings from classic menu staples to innovative limited-time promotions, the app serves as a gateway to Taco Bell's diverse culinary offerings. By showcasing its products in an engaging and accessible manner, Taco Bell entices users to explore new flavors and indulge in their favorites, all within a few taps. They give me different combo options to choose from on the app so that I never get bored of what I order, being able to easily shake it up. Customer Lifetime Value (CLV) ensures that each interaction contributes to long-term success. By analyzing user behavior and purchasing patterns, Taco Bell can tailor its marketing efforts to maximize the lifetime value of each customer. Whether it's through targeted promotions or loyalty rewards, the app keeps users coming back for more, solidifying Taco Bell's position as a leader in the fast-food industry. My place of work is just a few steps away from a Taco Bell and I know that they keep in mind people like me who need to eat. They calculate how often I go and how much I spend to increase their overall profits. #tacobellapp #AppMarketing #rewardsprogram #savingmoney #freefood

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