Blog Five: Half Way Point

          We are just about half way through the semester and all I can say is that marketing may be a great fit for me. Unlike Accounting, Finance, and Statistics, marketing gives me a great conceptual understanding of what makes a business successful. Although those other courses are the building blocks of keeping a company running, without marketing, who will know what your company is offering in the first place. Instead of just crunching numbers, marketing has helped me analyze the strategies that need to be made when making unique decisions that push a company ahead from the rest.
          In my earlier blog, I expressed how I felt about public speaking and how I have never been confident when it comes to sharing my ideas and knowledge in front of a large group of peers/individuals. Well, last class, I presented my final presentation of three to my class and I have never felt any better. Having two previous presentations in this course already, helped calm my nerves. For this presentation, I had to choose a Ted Talk that I wanted to discuss with the class. I decided to choose the Ted Talk, What It Takes To Be Great Leader?, by Roselinde Torres.
What helped boost my confidence was how I prepared for the presentation, repetition, repetition, repetition. Once I had it down, I could give the presentation in my sleep. I set my split my presentation into three sections, which are given below:
What Makes a Great Leader today:

•        According to Ms. Torres, many see this image of an all-knowing superhero whom stands, commands and protects their followers. (image from another time)
•       Another outdated method: Leadership development programs that are based on success models from a world that was, but not from a world that is, or that is coming.
•       Despite these programs, based on statistics from 4000 companies, over half reported they failed to have growing strong leaders.
•       Relying on traditional development practices will stunt your growth as a leader

 What Makes a Great 21^st Century Leader:

1.    Where are you looking to anticipate change? Whether business/life

•       Answer is on your calendar: Who are you spending time with, what topics are you focusing on, when are you traveling? Great leader don’t keep their heads down, they see around corners, shaping their future, not just reacting to it.

How this ties to marketing:

•     Marketing managers need to be alert and aware of the market they are entering, what is happening in the present time, and what is expected to happen in this market.
•       They need to meet consumer demands, time constraints, and always be on top of their competitive strategies.
•       They need to instill good uses of SWOT Analysis and product differentiation to beat their competitors
•      Overall, leaders in the marketing department need to be disciplined and use their resources constructively so they can stand out from other companies 

Once I had these three sections memorized, it came so easy to me. The day of the presentation, I dressed up in business attire, and felt comfortable leading up until it was time for me to get up in front of the class. The reason I dedicated this blog to this specific presentation is because I feel like I am really starting to overcome my fear of public speaking due to the significant amount of times we have had to present. Thank you for reading!

Blog Four: Becoming A Marketer

          As I introduced in my earlier blog, one of our main projects in BU 215 is to create a backpack on McGraw Hill Education's practice marketing simulator with a group of four other students, "Practice is a new line of 3D, multiplayer learning games from McGraw-Hill Education. Designed against course Learning Objectives and delivered on the web and on tablets, these games integrate into the core curriculum to provide hands on, experiential learning experiences"(MHPractice). Through this online simulator, we have the ability to create a company that meets a specific market for consumers looking to purchase new, top of the line backpack that fulfills their needs. We then are able to compare our results with the other teams in BU 215 (sales, cost of goods sold, revenue, expenses). With this information we are able to revise our strategy and advance in our market. It just so happens that my team is at the top of the charts compared to our peers, excelling in our industry.
          We had to create a strategic plan that would help us grow as a company. We chose to name our company, Acres of Vermont, which is a local company with the drive to supply superior backpacks to individuals that enjoy the outdoors. Outdoor enthusiasts want a bag that can withstand any weather, has a lot of capacity, and provides enough comfort to tackle any adventure. When creating our company we had these three goals in mind:

With these three goals in mind, we believe we can create a successful company that will provide and give our surrounding communities the backpack they are looking for. We want to start at a slow pace, building a foundation for our product and then expanding when we begin to get a satisfying customer base. In our strategic plan, I wrote about our target market and our strategy for building a successful company. I thought I would incorporate an excerpt of what I wrote for the target market of our company to convey how we will go about meeting our consumers needs: "At this point in time, Acres of Vermont’s primary focus is on consumers that love the outdoors. Vermont is known for their luscious green lands, captivating mountain ranges, and alluring bodies of water. Just recently, Vermont was named the first area in the country to use sustainable renewable energy with the use of twelve wind turbines strategically placed in different areas of the state. As a company, we seek consumers that carry the same initiative for a sustainable, clean environment with the hopes of bettering communities around them. Based on statistics from our initial marketing research for these target segments, our market size is about fourteen thousand with a growth rate of five percent per year. Last year, about thirteen percent of outdoor enthusiasts purchased backpacks that fit their needs for adventure. Our hope is to introduce a backpack that grabs the attention of these enthusiasts, while also luring them in with our determination for a greener planet. In hopes of satisfying our potential consumer’s needs, our main focus and concentration is placed on what our consumers what"(Acres of Vermont Strategic Plan). This is just one part of our strategic plan, which I will go into further detail in my next couple blogs. In my opinion, the target market of a company can either make or break you. Hope you enjoyed reading, have a great day!