Virtual Business Project - Business Decisions Analysis

1. Do you think you were a successful business owner?

   Why or why not?

 No I do not think that I was a successful business owner, I think this because although I passed all the main lessons, when it came to the New Franchise Project it was hard for me to manage all of the lessons in one big one.  

2. What was your primary purpose in playing and managing this simulation?

 My purpose was trying to please my fans and make a profit at the same time. I tried to balance the money I spent on promotions with sponsorship and licencing 

3. What were the two main reasons for not making more money?

 Losing sales from fans not making it in on time, and having left over promotional items. 

4. What do you think you did best in the planning and running of your football team?

 I think I did the best planning and running sponsorship earnings because I figured out how to make a profit.

5. What was your biggest weakness in running this simulation?

 My biggest weakness was not being able to sign licensing at times from it being expired. 

6. Explain how you managed yield management pricing?

 I used market research to see what the fans in my city could afford to spend on tickets, and i priced them accordingly. 

7. Explain how you used market research to help your planning.

 The market research came in handy because it geared me to the right data to use for my prices and promotional products. 

8. Explain how infrastructure the city's businesses affect the running of your team. 

 Well I went bankrupt twice, so they affected the running of my team,  because when I couldn't afford it they took it away. 

9. Explain why it might be important to ask questions about devotion and ticket spending when trying to determine where to locate your team.

Its important to ask questions about devotion and ticket spending because its better to have a team in a location that it would thrive in than in the middle of nowhere. 

10. What promotion would you like to receive if going to one of your games?

 I would want  a team jacket or the official hat.

Blog Post #4

Recently there have been many discount opportunities for the public. On the day after Thanksgiving each year, there is a huge sale day called Black Friday. On the Monday after Thanksgiving there is a large online sale called Cyber Monday. I like the idea of Black Friday and Cyber Monday, because each promotes sales that make shopping more affordable. Its also a plus that each of these events occur before the major holidays in December, so it makes buying gifts also more affordable. I prefer Black Friday over the two because Black Friday has been around for a very long time and is a tradition to go shopping on the day after Thanksgiving. Cyber Monday is cool too, but it crashes a lot of computers. I think that Black Friday should only be on the Friday. Thanksgiving is a day to relax, celebrate, and enjoy your time with your family, not go rushing around to go shopping. Black Friday deals should only occur at 12:00am or later on that Friday. The shopping season that is extending is getting too crazy, because in the old days people would get things they needed and a few things they wanted, now people go way overboard and spend a lot of money that they don't have. It's pretty ridiculous that kids in middle school, and even in elementary school have i phones, and other expensive technology like this. Midnight shopping would be okay because it is more appropriate than at 5 on Thanksgiving, but ideally 5 or 6am would be best for people.

Laughable Shows

My magazine named Laughable Shows is a fun magazine that features 10 of the televisions funniest tv shows! These shows include; Impractical Jokers, Big Bang Theory, Americas Funniest Home Videos, Family Guy, Friends, Modern Family, Boy Meets World, Awkward, That 70's Show, and The Simpsons. The target market in general for this magazine is teens and young adults.  

Promotions

1. Ways to promote The Tusk:
-Advertising; ads of The Tusk in magazines featured in all stores and halls around Tufts Campus.
-Direct marketing; emails will be sent with coupons included to all students and faculty members of Tufts.
-Sales Promotion; At all of the University's large events, Tufts very own mascot Jumbo will be handing out free samples of all 5 flavors of The Tusk.

2. It was interesting to learn how to use the various types of print media to help promote my drink. For example I could pay to have The Tusk featured in the ads of the schools newspaper, which will advertise my product to a variety  of students. Also I could create a number of catchy flyers and hang them on all the bulletin boards around Tufts. The flyers will be seen by residents of Medford, students, faculty members, visitors, and everyone else who walks around Medford and Somerville, which will really help spread the word on The Tusk. I'll make sure to put the flyers around Fletcher field because many opposing teams come to compete and they will want a good sports drink.

3. I reasonably priced my 20 oz bottle at $2.50 and my 12 oz bottle at $1.00. The strategy I used to price my product, included comparing prices to other good sports drinks and then coming up with two different sizes. I priced The Tusk at a fair price compared to other similar products, it is actually more affordable and it has more flavors. I think  my strategy of pricing the product low will increase the sales of The Tusk.

Sports Drink: The Tusk

The Tusk
Tufts University
Gives you the strength of an elephant

I overall liked this project, the things I liked included:
1. The options for originality and creativity.
2. The informational but fun type of assignment.
3.The fact that we actually made the prototype of our creation.

I learned a couple of things, they were:
1. How to create a marketing mix and apply information to it.
2. I also learned how important it is to do research prior to
creating a product, so you know who the target market is.

One thing I didn't like about this project:
I didn't like that you had to be artistic, because I am not a very good artist.

Advertisements for 1st Talking Movie

The movie Jazz Singer was the first talking movie, released in 1927.  Warners' risky investment of a half million dollars with the brand new Vitaphone sound system which brought profits of $3.5 million in at the box-office.  The movie Jazz Singer advertised by the spread of mouth and  in the being the first talking movie, so the target market was very interested in seeing and experiencing this new kind of film. Also Jolson, America's most popular singer was in the movie so that triggered the audience to want to watch the movie. It may have been advertised by signs on the theaters and around town, maybe on the radio also.  Other possible advertisements includes adds of the Jazz Singer in the newspaper and in store windows