Using Pinterest For Your Business

What to Consider When Creating Pinterest Boards for Your Business

Karen Leland, author of Ultimate Guide to Pinterest for Business, suggests looking into the following things when deciding to create a Pinterest account for your business:

Choose topics that interest your target market

• Create boards and re-pin pins that your target market wants to see
• Make connections between your product and the consumer:
• Example: If you sell high quality art supplies, chances are your consumers are artists, art students, or seriously enjoy painting as a hobby. You could then create a board with different famous artists' paintings, art shows, murals around the world, etc.

What is the educational value of the 'pins' or 'boards'?

• The best kinds of pins are "How To" and informational pins.
• Be sure to credit any videos that are not your own.
• Educating your audience will draw followers to you.

Have you gotten any feedback about your business?

• Similar to a virtual focus group, testing the waters on Pinterest with new products/services or new ideas is a great way to see how your target market will respond to it if/when released.

Think of your upcoming events.

• Create boards for information about your upcoming events like speakers and workshops.
• Re-pin pins about the speaker, sponsors, location, and other information that may interest your followers about these events.

Do you have new products/services being released soon or recently released?

• Pin things about the product/service like features, uses, and testimonials.
• Promote your new product/service with special deals.

Show your followers your company culture & employees.

• Giving your followers a peek inside your work area forms trust and a more personal bond.
• Pin pictures of the office and employees.
• Pin fan photos (be sure to get permission first).

Provide your followers with "social proof".

• Create a board of pictures or videos of testimonials and and your customers using your product/service.
• If people see other's using and enjoying your product/service, they will assume they will also have a good experience with it.

Encourage group discussion.

• If you give a brief description of the pin and also a question, this will help generate discussion and spread awareness of your company.
• Similar to an online forum or blog.

What kinds of businesses would Pinterest be perfect for? To what type businesses would Pinterest be of little to no help?

Response to Jade Brulotte

Johnson & Johnson's Reaching Out to Consumers' Emotions

Do you think that consumers will change their mind and trust after all of the recalls and lawsuits Johnson and Johnson has faced?

Johnson and Johnson is attempting to recover from all the recalls and lawsuits they have faced in the past few years. Their latest action is their new campaign, "For All You Love". The ads will be aimed towards consumers' emotions.

I'm not sure if these ads will entirely change consumers' views but I do believe that the ads will help. It is very hard for companies to recover from bad reputations resulting from recalls and lawsuits. Most people find it hard to see the company as trustworthy or reliable afterwards. In my opinion, I respect the companies that recall their products because some companies do not recall anything in fear of receiving the bad reputation and to avoid the cost of recalling the product(s), refunding consumers, and replacing/fixing the product(s).

I hope that Johnson & Johnson will be successful in gaining their good reputation back and earn back the respect of their current and former consumers.

Why do you think Johnson & Johnson decided to focus on consumers' emotions for their campaign? What kind of strategies are they using? What else could they focus on to achieve their goal?

Jade's post can be found here.

Response to Katie O'Hurley

Alex and Ani Bracelets

I think people are still buying Alex and Ani bracelets because they are cute and have "meaning" to them. Each bangle bracelet has a cute charm on it and the bracelets come with cards that explain the meaning of the bracelet. For example, the hummingbird bangle bracelet means "Awakening, Healing, Eternity". How they determined that? I have no idea. Below is a screen shot of the hummingbird bracelet on AlexAndAni.com

These bracelets are the biggest trend right now and have taken the place of Pandora charm bracelets (though I'm still a Pandora girl - I don't own any Alex & Ani products). As I've read in Katie's post, as well as hearing from friends with Alex & Ani bracelets, the bracelets aren't even good quality and rust very quickly. The also cost $3 to make and are sold for prices ranging from $28-$54. Some people think they are worth buying because the bracelets are made in the US, compared to Pandora charms that are made in China... I support companies that keep outsourcing to a minimum but they should be producing great quality products if they say "Made in the USA" on them.

Also, as you can see below... the trend isn't just wearing ONE Alex and Ani bangle. Most customers wear dozens of bangles. One of my roommates has about 8 Alex and Ani bangles that she wears everyday and I know it's her when she walks in the front door downstairs because she jingles when she walks.

How much effort do you think it would take for Alex & Ani to make better quality products that didn't rust? Would it be worth it? How would this effect sales?

Katie's post can be found here.

Response to Blackboard Question - John Smith

To Sell or Not to Sell

John Smith should not sell the names and phone numbers of the people that are "likely" or "very likely" to buy a new car in the next 12 months. Though he will need to lay some people off, it is more ethical to do that than go against the AMA's Statement of Ethics. If he were to sell the contact information to the car dealership, John Smith would break the Honesty part of the Statement of Ethics. More than likely, the survey said that no information will be shared or sold. The Fairness part of the Statement also states "seek to protect the private information of customers, employees, and partners". I believe the people that responded to the survey could be considered customers or even employees and their names and phone numbers could be considered "private information". John Smith should definitely not sell the information to the car dealer.

How could John Smith remain ethical AND not lay off any of his employees?

Professor Johnson's post can be found here.

Response to Jade Brulotte

Would you invest your life savings in an idea you were fairly confident in?  Or would you have to be completely confident?

Though Michael Dubin's Dollar Shave Club has been successful, I don't think that I could invest my entire life savings in an idea that I was only fairly confident in. I am a creative person, but I don't like to take big risks. If Dubin's idea had been a bust, what would he have done after his life savings disappeared? There would be a significant lifestyle change and a long struggle.

If, for some reason, I had a great sum of money in my savings account right now at age 20, had a stable, well-paying career-job, and came up with an idea that I thought would take off quickly, I would definitely pursue it because I'm young and have a great job so I could bounce back easily. If I were older and closer to retirement, I wouldn't be as likely because that's chancing losing so much money that I wouldn't have time to save up again and live off it after retirement.

Do you think that your age determines what you invest your money in? What would some examples be?

SMS vs Social Media & Email Marketing

Text Your Customers, They'll Actually Read Your Message

SlickText.com released this infographic to the right shows that text messages are checked more frequently than tweets, posts, and emails. Not only are they checked more frequently, but text messages are also typically read within 5 minutes of receiving them whereas emails might not be opened for a day or two.

Think of all the promotions you receive/read/are exposed to from different companies you like...how do most of those promotions reach you? In my case, and I assume most other people's as well, I get almost all promotions and information about stores and brands I like from emails and one by text message. If only 20% of emails are opened and 98% of text messages are read, why don't more businesses use SMS? More people would receive them, not to mention the promotions would actually be opened AND read and also be read within minutes of being sent. If you go to a company's website, there is more than likely a subscription button to enter you email and buttons to take you to the company's Twitter, Facebook, and other social media...but very rarely is there ever a place to enter your cellphone number for SMS updates on sales, new items, or VIP discounts.

Why don't more businesses offer the SMS option to connect with consumers? Wouldn't this be a more effective way?

Dunkin Donuts

Dunkin Donuts Straying Away from Doughnuts...?

Dunkin Donuts has began a new focus on foods other than doughnuts and beverages. They have released many new kinds of sandwiches, coffee, tea, and frozen drinks. There have also been limited time offers like spring and summer specials. Paul Carbone, Dunkin's CFO, announced March 14th that Dunkin Donuts will be shifting their focus to beverages and breakfast sandwiches. I believe they will still sell doughnuts but they will rarely ever be advertised. Carbone said "beverages are the holy grail of profitability" and that there will be a time when no one will want doughnuts anymore.

How do you think this will effect doughnut customers? Will they still think of Dunkin Donuts when looking to find a doughnut if DD's isn't marketing towards doughnut eaters anymore? How will this effect Dunkin Donuts?

Response to Brooke Callaway

Do you think K-mart has a clever way of keeping viewers interested in what they are trying to sell? 

I think that this is a very clever commercial. I agree with Brooke 100% that it is a great commercial and an big attention-getter. Sometimes at home I have the TV on just for background noise while I'm cooking, doing housework, homework, or just home alone and I rarely ever even pay attention. I remember when I first saw this commercial. I was engaged in something else but the commercial got my attention immediately because I thought the guy said something else that sounds similar to "ship my pants". K-Mart has found a clever, humorous, and memorable way to inform consumers that they offer free shipping in their stores.


What is your opinion on this advertisement? Is it humorous and clever or inappropriate? 


Brooke's post can be found here.

Response to Will Ferguson

What is your favorite convenience product and why?

My favorite convenience product is gum. I used to be addicted to gum and would always buy a pack when I was in line at the grocery store, or a convenience store, or paying for gasoline. I'm not a gum brand person but every brand is usually about the same price as everywhere else so you don't really need to think about another place that would sell it for less. There is also a wide variety of brands and flavors so I can buy whatever flavor or brand I'm in the mood for that day. 

How do you feel about having such a wide selection of brands and flavors right at your fingertips? Do you think this excessive amount of choices causes subconscious brand loyalty by consumers always choosing the same brand and flavor without thinking about or taking into consider the other brands since there are just so many?

Will's post can be found here.

Marketing Yourself

Self Marketing

If you are a college student or unemployed you should become a sales person and learn how to sell yourself. There are many ways to approach this. I think that expanding your self online is the best way. You should become more active with social media like Twitter and Facebook (in a professional manner) as well as LinkedIn. Having these accounts allows you to network with people and express yourself. Keep in mind that the reason you are doing this is to attract potential employers.

In addition to Twitter, Facebook, and LinkedIn another great idea is to maintain a blog and develop a fan-base (followers and subscribers.) This shows potential employers your style of writing as well as your personal and professional interests.

The last thing, and I believe this to be the most important, is having your own personal website. Your website should be yourName - .com, .net, .me, etc. You should include pages like "About", "Resume", "Course Work", "Activities", "Contact", and links to your Twitter, Facebook, LinkedIn, and blog(s). You do not necessarily even need the basic knowledge of HTML and CSS, Wordpress, or Drupal to make a website. There are many websites that allow you to visually build your website as opposed to writing it with HTML and other languages. It is similar to a template you and just insert images and content. The next step would be purchasing a domain name and web hosting. The most popular place to do this is GoDaddy.com. After your website goes live, you can include the URL in your resume.

With these few things you can get yourself out there and attract more employers.

What are some other ways you can market yourself? Do you have a personal website? If so, what kinds of things do you include?

Response to Kaley DeBoer

Do you agree this commercial is beneficial for the product it is promoting, or is it stretching too far away from it's original product usage?

I think that this Sears commercial is great. Kaley had a great point that it really sucks in movie people since it is set up to seem like it's a movie trailer. I definitely grabs your attention. Like I had mentioned in my previous post on April Fools Day products, these types of commercials target people with a sense of humor. This commercial is silly because a) it tricks you into thinkings it's a movie trailer and b) the two people run into a refrigerator. It may not make people go out and buy a refrigerator when they see the commercial (similar to another commercial where the people run into a refrigerator on the beach) but when they are in the market for a refrigerator or other kitchen appliance, Sears may come to mind when deciding where to shop for the appliance. It is definitely one of those commercials that will just lurk in the back of your mind until you are in the need of the product or see it in the store. 

What is your opinion on commercials like this that are misleading but end up being humorous in the end? Can you think of another commercial that has a similar approach?

Kaley's post can be found here.

April Fools Day Advertisements

Are these April Fools Day Ads working in the brands' favor?

With April Fools Day right around the corner, everyone is planning pranks for their friends and family. Now some companies are even getting in the spirit! P&G's Scope mouthwash brand is releasing a "new" mouthwash flavors...bacon - "For breath that sizzles." It is clearly an April Fools joke and everyone knows it. There has been much talk about Scope's bacon flavored mouthwash and whenever the press asks Scope about it, they refuse to comment until April 1st at 8PM.

Another brand doing an April Fools campaign is American Eagle. Their commercial is saying they are offering "Skinny Skinny" jeans for a limited time only. These jeans are supposedly the most comfortable piece of clothing and feels like you aren't even wearing anything. The commercial is very silly just like the bacon mouthwash commercial.

I think these silly commercials are somewhat helping their sales. Though it may not make people go out and buy their real products, the thought of the brand will lurk in the back of consumers' minds and they will recall a funny commercial when they see the store in the mall or the brand on the shelf. I also think it agrees well with people that have a sense of humor, or else they'd hate the commercials and think the brand is weird. I think mostly younger generations will see these commercials as humorous.

What is your opinion on these April Fools Day products? Are they helping the brands? Why or why not?

Response to Ashley Borjeson

Consumer Purchasing Decisions

What are the biggest influences on consumer buying decisions in your opinion?

I definitely agree with Ashley that cultural reasons are the biggest influences to make a purchase. If it the the trendy thing to have right now, like iPhones and other smartphones, chances are you'll really want one too. 

I think another strong influence on purchasing decisions is the consumers current emotion. I know a lot of women that like to go shopping when they're feeling down because buying things makes them happy so they are more likely to buy something if they are sad or in a bad mood in order to cheer themselves up. However I also know a lot of women that like to go shopping when they are in a good mood and go a little over board because they're so happy and have no worries. So basically no matter what kind of mood the target market is in, chances are good that someone will be buying something. I am not either of these kinds of shoppers, I am a poor college student so really my shopping patterns depend on the amount of money I have and what expenses I need to pay. This is another influence on purchasing decisions. 

People often want to buy things buy aren't able to afford them. However, if it is something that they really want but can't afford at the moment, many people will safe up to make the purchase at a later date. So maybe a company isn't making as many sales right now, but maybe once tax returns are received there will be a spike in sales.

What do you think are the strongest influences on consumers to NOT buy something?

Ashley's post can be found here.

Brand Recognition

Brand Recognition

Brand recognition is when the general public or targeted market can easy recognize a brand by something other than the name, such as logos, slogans, and colors. There are so many top brands that people can easily spot just by their logos, even when the name isn't in the logo. There are even games you can play on smartphones that the sole purpose of the game is the name the brand or company of that logo. When the actual logo is the word, typically all the letters are missing except one... but it's still very easy to tell what brand it is. See the image below if you aren't familiar with such games.

People are much more aware of brands and logos and slogans because of how much advertising we are exposed to. Jay Walker-Smith, the president of the marketing firm, Yankelovich, states that the average person in the 1970s would be exposed to about 500 ads per day whereas the average person in 2009 was exposed to about 5,000 ads per day. Imagine how much it must have increased over the last few years... It's no wonder that people play these kinds of smartphone games with ease!

Take a look at the image to the left. Chances are pretty good that you know what company that is, and it's not even it's logo exactly. If for some reason you didn't catch it, it's Google. Each individual "letter" is a logo for their different features. For example, Google Docs and Gmail are the first two "letters." Each logo is also the same color as the letter in Google's logo.



What is you opinion on brand recognition and how many advertisements we are exposed to? Are there other factors that may contribute to brand recognition?


Don't have a smartphone but want to play a logo game? Try Sporcle's corporate logo game, don't worry there's more than one.

Response to Sarah Allen

What level do you think relates most to your consumer involvement?

The four levels of consumer involvement are: 1) previous experience, 2) interest, 3) perceived risk of negative consequences, and 4) social visibility. Of the four involvements I think that my consumer involvement is mostly based on previous experience. If I am shopping for something specific and I know that I like the product/brand and am satisfied by it, I will most likely buy it without much hesitation. I am not a huge shopper and generally only buy what I need so I know what I like, what works for me, and my preferences. There is no need to really research things for this or weigh my decisions. I almost always base my purchase decisions on previous experiences with certain products and brands.

Do you think that it is bad to make your purchasing decisions based on previous experiences? When would this be a good thing?

Sarah's post can be found here.

Herbal Essences

Bringing Back Old Scents & Packaging

Some of you may use Herbal Essences shampoo and conditioner. I am a big fan of the "Hello Hydration" (blue bottles); it smells great and leaves my hair amazingly soft. As you can see in the picture, the blue, hot pink/red, and purple bottles are very vibrant and appealing to the younger generation.What you may not notice in the picture are the light pink and yellow bottles on the top shelf... These are the older scents and packaging before Herbal Essences released the brighter bottles targeted towards younger women. 

When I was in about middle school my mother used to use Herbal Essence (the ones of the top shelf of the picture) and I had always associated Herbal Essence with "old people". When the brand began making new, "hipper" shampoos and conditioners I wasn't completely convinced of their "coolness" but have gradually began to use and enjoy their products.

Today I was at CVS buying shampoo and noticed that Herbal Essences is bringing back some old scents. I think that they decided to do this because they probably lost a good share of their regular consumers when discontinuing some of the shampoos and conditioners. I think it's a great idea to bring back the previously brand loyal customers and also keep the new market as well; it allows them to market towards a wider range of people.

What do you think of Herbal Essences bringing back old products? How will this effect the brand?

Response to Christian Torti

How do you think Apple could market an iWatch effectively?

I have absolutely no idea how Apple will manage to effectively market an iWatch. Not as many people wear watches now as they used to. Most people, especially in the younger generations, use their cellphones to check the time. If a young person wears a watch it is probably just for style and to show off their social standing. This may help Apple with marketing a product that, in my opinion, is almost obsolete. 

Apple has always had outstanding marketing techniques that has allowed them to grow into the company they are today. They are very innovative and creative in their packaging and promotion. I think that as long as they keep up what they're doing, they will be able to market the iWatch with ease and sales will skyrocket. I'm not saying that iWatch sales will remain high though. I think people will buy them out of curiosity  wear it for a bit, realize it's too clunky to wear casually every day, and put it in drawer. Consumers will also realize that it is just like an iPhone or iPod Touch or iPad...though no one has seemed to notice that all of those things are the same thing yet...

Do you think the iWatch will be the newest rage or a total flop?

Christian's post can be found here.

Creative Packaging

Is Creative Packaging Worth It?

You may not see it everyday, but there are many products that are packaged in such creative ways. As you can see in this image, they are very clever. But will this really influence consumers to buy these products over another? There is no argument that these are unique and stand out from most boring packaging however it may be a waste of time. 

I think that I might buy a loaf of French bread that comes in a gnome bag because it's cute and silly but I really don't see myself continuing to make this purchase every time I am shopping for French bread. I feel like this is the case for most of these products. The packaging is cute and would be fun to show friends, but there are only so many times that it is funny or "cool". 

These products have great packaging and it will definitely make them stand out from their competitors' products but unless they are very good quality, I don't think that people will buy them more than just a few times.

What is your opinion of creative packaging? Is it worth the time and money? Does it generate higher sales?

Designing a Logo

How to Design Your Business Logo

Though it is just a small icon, a logo is a very important part of a business. It is on packaging, promotional materials, and stationary. It represents your business so it needs to be memorable and apply to your business appropriately.

There are two forms of logos. The first is abstract symbols. An example of an abstract symbol logo is the apple that Apple uses. The second type is logotype which is a stylized version of your company name. Some companies like to use a combination of both forms. A logotype is much easier for people to recall so if you decide to use an abstract symbol, be sure to use it on everything in hopes of it quickly becoming associated with your business name.

Here is a link to a website with some clever logos that contain both abstract symbols and logotype. Each logo has a hidden meaning that pertains to the company name, the company slogan, or the service that the company provides.

If logos had always been more simple, without hidden messages or clever abstract symbols, what effect do you think it would have on brand recognition today?

Response to Nicole Rutigliano

Dr Pepper Ten

I can understand why Dr Pepper has come out with a drink "not for women" because there are many men out there that are heavy soda drinkers but may not feel "manly" while purchasing products that are called diet, light, sugar-free, etc. Diet sodas are marketed towards women in particular because we are more worried about calories. However, there are men concerned with calories as well. I think Dr Pepper Ten is a great way for men to get a lower calorie soda in a more "manly" form.

Though the drink is "not for women" I think some women may still go out and buy Dr Pepper Ten. Like Nicole mentioned in her article, I also know people that stay away from diet sodas for fewer "surprises" and they are not all men. I think Dr Pepper Ten gives both men and women an opportunity to drink a soda that is a good balance of diet and regular so they can intake fewer calories but still get the regular soda taste.

Are there other kinds of drinks like Dr Pepper Ten that are in the middle of the diet version and regular version? How is that drink marketed?

Nicole's post can found here.

Response to Tammy Chou

Were you satisfied with a product targeted towards your lifestyle?

Yes I have purchased many products targeted towards my lifestyle and have been entirely satisfied with them. Products that I have purchased and have enjoyed are all of my Nike products. I like to go to the gym and be active and Nike has done a particularly good job marketing themselves to people with active lifestyles. I have Nike everything and haven't been disappointed by any of it. The running shoes are light, durable, and comfortable and the active-wear is comfortable, non-restricting, and wicks away sweat. I have been fully satisfied by all things Nike and will continue to buy Nike products until I have had a few bad experiences.

Have you ever experienced loving a company and then being completely let down by one of their products? Did you continue to buy from them? What influenced your decision?


Tammy's post can be found here.

Self Regulation vs Governmental Regulation

 Do you believe self regulation is more or less effective than governmental regulatory agencies?

Though I believe that governmental regulatory agencies are needed, I believe that self regulation is more effective. Even though company's know that something is illegal, some may still do it anyway if it means they would make a profit. Self regulatory has more influence on company's because it creates an internal conflict that comes down to ethics and values. I think a person is more likely to listen to their gut or head before they listen to the law, specifically when wealth is involved. Though this is not an example with a company, it is an example that most college students would understand. When you hear a song you like and want to put it on your iPod for later or maybe you want to watch a TV show that isn't on Netflix, where do you find the song or the complete TV series? I highly doubt you bought the song on iTunes or went to Walmart to buy each season of the TV show. Most people illegally download music, TV shows, movies, and more online. The following image contains statistics from 2011 on illegal downloading. This clearly shows that people all around the world do not listen to the law when concerned about piracy. People don't want to pay $2 for a 2 minute song or $40-50 for each season of a 7 season TV series. This would be similar to a company not wanting to pay for an appropriate way to dispose of harmful waste because it is expensive so they just dump it in a landfill or into the ocean. Some people do not take part in these things because of their self regulation however not all do. 

What are some companies that actually do follow governmental regulatory agencies?

Response to Arthur Brockelman

Is There Too Much Entertainment in Superbowl Commercials?

I disagree with what Arthur writes in his post about Superbowl commercials. He believes that the advertisements have too much entertainment and little product information. I understand that he thinks that the company/brand/product should be introduced before the very last few seconds of the commercial, however I think that the point of TV commercials, especially during the Superbowl, is to engage the viewer in a storyline, to humor, and to entertain in general. When a viewer sees a commercial for the first time and is following the storyline, they stay engaged the whole time, if it is interesting enough, and are on their toes waiting to see what product it is for. I think that revealing the product at the end makes it more memorable because the viewer is waiting the entire commercial to figure out what it is for. I do think it would be appropriate to show the product in the commercial before it flat out says what it is but not entirely necessary. The entertainment aspect of commercials also generate more awareness of their product. If you see a funny commercial, you are more likely to tell a friend, relative, or co-worker about it. I think that this is more beneficial than an overly informative commercial.

Arthur also mentions that he thinks advertisements should have more information provided. I think that most commercials have an adequate amount of information about the product. If commercials and advertisements were made up of only information, there would be no hook or entertainment to it. One of the differences between advertising and marketing is the amount of information conveyed. In advertising, there is little information provided to the consumer and more persuasion to buy whereas in marketing there is a lot more information provided and little to no persuasion. I feel like there is enough information provided in commercials and a good amount of entertainment in them as well.

What is your opinion on the amount of entertainment in commercials?

Arthur's post can be found here.

Social Media Marketing

3 Must-Know Basics to Managing Your Company's Social Media 

from entrepreneur.com 

There are multiple ways to engage customers with social media, Facebook and Twitter being the most popular. However there are many businesses do not know how to manage their social media. Lindsay Lavine of Entrepreneur.com wrote an article about the basics of managing social media.

The first tip Lavine listed was to listen. She recommends to join conversations and to avoid talking at people. Statistics have shown that companies that post 1-2 times a day receive more interaction (likes, comments, retweets, etc) with their "friends" and "followers".

The second tip is to avoid letting your intern manage your social media. Though it seems like fairly simple task that any intern could handle, interns have little experience at your company and know nothing about the business. Why would you allow someone that knows nothing about your company speak for it? They could accidentally post something inaccurate, offensive, or contradictory to the business's views. If you must give social media responsibility to an intern, the best solution is to heavily monitor it and be sure that you see everything before it is published.

The last tip listed in the article suggests to find the social media that best fits you and your company. There are so many different mediums to choose from and the best thing to do is just pick one to start with and become comfortable with that. If you feel more social media is needed, add another.

Do you think the best kind of social media to use depends on what industry you are in?

Response to Sarah Allen

Can high quality, expensive products and services be "good value"?

I agree with Sarah that customer value and customer satisfaction are interdependent. Her views are similar to mine in which we see that if a customer purchases a product or service and is satisfied with the quality, their customer value will be high.

However, it is the second half of her post that I do not entirely agree with. She states that “if a high quality product is only available at a high price, people will not perceive that as good value, nor will a low quality product selling for a low price.” I disagree with this to some extent. When looking at this from a technology perspective I can see how a customer would view a high quality, high priced laptop as a good value. In order to understand why exactly a product or service is as expensive as it is, you need to have knowledge of that product or service. As well as being an business management major, I am also majoring in computer science. I am able to understand what specifications would make a certain laptop be considered “high quality” and then because of that, I can also understand why that laptop is more expensive than others.

Looking at the quote from Sarah’s post, “…nor will a low quality product selling for a low price” makes me think of something that I know is a low quality product or service that is also at a low price. The first thing that comes to mind is the Dollar Tree. The Dollar Tree is a store that sells a variety of things all for $1 or less. Being a poor college student, I have shopped at the Dollar Tree for things like gift bags, wrapping paper, birthday cards, balloons, etc. I know that nothing is the Dollar Tree has spectacular quality and I never expect much when I purchase something, but in my head I think “well, it’s only a dollar!” Occasionally a gift bag will rip or the handles will tear through the paper. These are understandable mishaps. I do not see anything from the Dollar Tree as low value because I don’t have high expectations for the quality and the prices are extremely low.

What are other examples of expensive or inexpensive products/services that are perceived as "good value"?

Sarah's post can be found here.

Response to Bb Question #2

Customer Satisfaction & Customer Value

Customer satisfaction and customer value are interdependent. Customer satisfaction cannot be achieved without also achieving customer value. Customer satisfaction is a mental evaluation of whether or not a product or service has met the expectations and satisfied the needs of the customer. Customer value is the relation between the benefits received from a product or service and the sacrifice made to be able to have those benefits. In other words, it is determining whether or not the product or service is the quality that the customer expected and if it was at the price they were willing to or able to pay. 

Both customer satisfaction and customer value involve quality and meeting expectations and needs. Without having customer value, achieving customer satisfaction is not possible. For example, if you were looking to buy a used car and found a 2000 Honda Accord you would expect it to have high mileage and perhaps something needing fixing. These assumptions are based on the year and would be understandable (meet your expectations) and you would have good customer value and satisfaction. However, if you found a used 2011 Honda Accord you would expect it to have low mileage and probably not need any sort of maintenance in order to pass state inspection. It would be understandable that it is probably significantly more expensive than the 2000 Accord but if there were multiple things that needed fixing and had high mileage for a 2 year old car, you would have poor customer value (the 2011 Accord was of poor quality and you paid more than it was worth) and also poor customer satisfaction (the 2011 Accord did not meet your needs or expectations). 

Can you think of a situation where customer value and customer satisfaction would NOT be interdependent?