The Costco Craze

Some interesting facts I picked up from the video is that Costco's biggest seller is meat and their big sellers are also produce, and TV's. Everything at Costco is sold in bulk so customers tend to go in and spend more money than expected. As well as this, Costco's aisles have no signs so people will walk throughout the whole store looking for the things they need to buy. This way when people see other things that catch their eye and aren't on their grocery list, they tend to buy them. This increases Costco's sales and helps the company thrive even more than it already does.

Costco's food prices are 30% lower than typical stores but everything is sold in bulk and large quantities. The markup is 15% which is way less than typical stores, allowing Costco products to be sold for lower prices and then they have more sales this way. Costco has a signature brand called Kirkland and since they own the company these products are even less expensive. The only issue with Costco is that the checkouts are very long and take a long time because all of the customers are buying large quantities of items. Costco's competition to get things on shelves is very high and toys are starting to become more important to the company's priorities. As well as this, toilet paper is Costco's biggest selling product and there are many workers who test and work with the toilet paper to make sure it is just right because it is such a hot seller.

Tourism and the Economy

A three mile stretch of a beach that lies between the suburbs of Corona del Mar and Laguna Beach is part of Crystal Cove State Park, which is a beautiful oasis. It has 2400 acres of land and its surrounded by Orange County. The natural resources of sand and coastal cliffs makes Crystal Cove State Park a very tourist drawn area. People can hike, bike, walk the beach, and even dive, and they are known for their butterflies in the wooded cannons. The beach water is very foamy and enjoyable to tourists and the hills make it a very unique, peaceful environment.

Since Crystal Cove State Park is such a quiet area filled with sand, coastal cliffs, and cannons it attracts many tourists because people are drawn to it. These are natural resources because they are materials that increase economic gain in the Newport Beach area and everything is natural and occurs in nature on its own. This area is an ideal vacation spot because their are many vacation houses to rent and it is a quiet area but their are many different restaurants and things to do in the Newport Beach area. As well as this, most of the area around this small area is urban, so it is a very contrasting area compared to the towns surrounding it, drawing many people in to vacation who need a break from the urban life.

Because coastal cliffs and cannons are not very common in the California area, this state park is unique because much of California is beaches but most beaches are not as natural and unique as the beach of Crystal Cove State Park. Because Crystal Cove is one of Orange County's largest remaining example of open space and natural seashore, tourists are drawn to this area. Overall, Crystal Cove State Park has an absolute advantage in an all natural beach with hills, cliffs, and cannons. Because so many tourists come visit here, the economy is benefited because tourists purchase things at stores, restaurants, gift shops. As well as this, they rent beach houses and do tourist events in the area nearby, overall helping Orange County and the state of California's economy.

Fast Company Articles

How Facebook Devalued the Birthday
Facebook notifies you about your friends' birthdays and wants you to "wish them well." Facebook is really into their users encouraging the birthdays of those in your social circle. It may seem like not a big deal, but think back a couple years ago and how people's birthdays were relatively private. It used to be something you could choose to share or not and many people did not share their birthdays with others. Some would only celebrate their birthday with family and their close friends, and some even celebrated it themselves. It used to be more of a private business matter, but now many people have their birthdays easily accessible to others on their Facebook page. In the past it used to be difficult to find someone's birthday out, but now Facebook has made it especially easy for its users to find out other people's birthdays. This could possibly allow criminals a better chance to use identity theft, and results in a major privacy issue. Some people have a friend on Facebook with a birthday almost everyday so when a user is so used to getting birthday notifications, it devalues their view on birthdays and then when it is someone special in their life's birthday, they tend to think of it as lesser importance. You can set your birthday to private or "only me" on Facebook but many people do not because they don't think anything of it. Some people do put their birthdays on private because they don't want people who would otherwise not know about their birthday wishing them a happy birthday. Facebook is making birthdays less authentic and makes birthdays artificial by informing your friends when it is your birthday.

This All-Electric Plane Could Change Everything About Regional Air Travel
Eviation is an Israel-based startup and they are building a new all-electric, nine seat airplane called the Alice Commuter. This plane is expected to make its first commerical flights in 2021 and will take hundreds of routes in the U.S. over the upcoming years. Lightweight materials, energy density of batteries, power of electric propulsion, and the computer power help to manage this plane. Eviation decided to focus on going all electric for their first plane because they believe it makes the flights the most affordable for customers because it will be available to all. Overall the technology required for the electric plane is cheaper because electricity is cheaper and overall electric planes cost cheaper to maintain over hybrid options. The plane is made to be comfortable and steady so passengers are willing to ride it and won't be intimidated by the small size. After this first plane joins the market the next goal is to make a larger plane that can carry up to nineteen passengers.

Case Study: Hotels Target Millennials with New Amenities

Hotel chains see millennials  as critical to their financial growth because millennials are likely to become the largest consumer group in U.S. history, and they have spending power of billions of dollars a year. As well as this, millennials have different preferences compared to baby boomers and other generations. They prefer interesting over comfort, which is an important concept for hotels to utilize when making their hotel likable to millennials. The hotel industry should use social media to connect with younger travelers because social media is a big part of the younger generation's lives. If hotels post promotions and ads that will interest millennials, it can help promote their company and generate more sales. Hotel chains are marketing towards millennials by having a lot of bold art that creates backdrops for people to take selfies and share online. Some hotels are adding dramatic and photogenic showers inspired by laboratories of the 1920s in their rooms. Some rooms also have mirrors that have an infinity effect that beg for selfies. A service offered is that staffers are encouraged to share their favorite local spots with guests. Some hotels place original local guides in rooms and publish them on the hotel's website, and some offer area tours for their customers. Some hotels are starting to host events a couple times a week also with food, tasting, and social events. These services and marketing strategies help hotels cater towards millennials and in turn get more sales and profit.

Marketing Websites

Mashable: Cold Weather Running Gear You'll Want to Use All Year

Running in the cold is actually good for you, especially in the winter when you are more sedentary. Studies show that running in the winter is good for your heart and reduces your chances of catching the flu. This is because running is great for your circulation which helps your immune system do a better job of fighting off seasonal illnesses. If you have the winter blues running can help you feel better by relieving depression and anxiety symptoms. Seasonal Affective Disorder (SAD) can be fixed by spending time outdoors along with daily physical activity.

A product to help you run in the winter is the Uniqlo HeatTech which is a long-sleeved shirt that has fabric that is thin and moisture-wicking. The fabric helps retain heat and has anti-odor properties to keep the runner comfortable. Another product to help you run in the winter is the Nanotips, which is a touch-tech formula that transforms gloves into touchscreen gloves. Simply apply it on the fingertips of the glove and let it dry. Then you will be able to use your smartphone with the gloves on. Another helpful running product is the Wrist Wallet, which allows the runner to keep their money, ID card, and credit cards with them on the go. They can also store inhalers and epipens when on the go. Another product is the Ice and Snow Traction Aids, which maximizes durability in subzero temperatures. You simply apply them to the bottom of your shoes and helps with traction and overall confidence while running in the wet and cold weather conditions.


Chris Brogan: What Does it Take for Your Business to Stay Top of Mind?

Businesses want to believe that people think about their business all day long. They also want to believe that when a customer's need arises that they are the first company to consider buying from. To stay top of mind you have to make it extremely clear what problem you solve for the buyer and focus on the overall branding of the business. Branding used to just mean names, logos, and colors, but in today's business world, it has become more complex than just that. Businesses are very competitive overall and especially when competing for store space.

There are four simple ways to improve a brand's awareness and retention, and help a customer or prospective customer remember your business and brand no matter the size of the company. The first way is through a goal, any time you reach out to connect or communicate to customers, it is so important to be aware of the customer/buyer. You have to think about the goal that your company is trying to help the customer achieve. The second way is clarity, when talking about your business you should be clear, simple, and straightforward to make your company/product easy and clear for potential buyers to understand. The third way is simplicity, you do not want to be too fancy. You want everything to be brief and don't over-extend your company or product. The fourth way is repetition,  whatever it takes to help your product/company stick in buyer's minds whether its rhyme or just saying a phrase over and over again. This will help people remember you and what you stand for. You can't be top of mind if you've already been forgotten. Overall it is important to solve the customer's goal, be clear about it, keep it simple, and repeat the story. It is important to build something memorable in service of your customer's goals and make it easy for your customer to get what they need through your company/product.

WalMart's Tropickle

Retailers and brands are needing to come up with unique products like the WalMart Tropickle to keep the competition going between competitors. This way if a product is so special and unique that only one company sells it, people will go to that store to buy that one specific product that is found no where else. This in turn will get more people into their store and once someone is in a store for one item, they tend to buy many other items while they are there as well. This will keep the sales volume up and in turn the revenue as well. WalMart is developing unique products in response to the every increasing competition from their competitors, like Whole Foods and Amazon. This will give them a leg-up from their competitors and they are hoping it will help their company become popular and well-known for their interesting products.

My thoughts on this interesting new product is that it is very unique of WalMart to come up with these creations, and the name really fits the pickle well. I am really curious to try it and other unique products and foods that WalMart creates in the future. Amazon's acquisition of Whole Foods is so threatening to others in the marketplace because they are two strong, well-known companies, so people feel threatened because they are now coming together and uniting as one. This can be dangerous to other companies out there (like WalMart), because they could overpower the industry and create even more competition for the other companies to deal with.

Product/Service Management

Product/Service Management in marketing is when a product or service is maintained, developed, or improved in response to market opportunities. Airport security has become faster because the market for traveling has grown. More people are traveling now then ever, and in order for the Transportation Security Administration (TSA) to do the security checks for all of the flyers, many improvements in the service have been made over the years. Without these changes, it would be much more difficult to get through the amount of people needed to smoothly get everyone to their boarding areas in a timely manner. If changes and improvements are not made, people will become frustrated and less people will travel because of the hassle security can be. Therefore these changes were absolutely necessary to keep the flow of people fluent in and out of airport security.

As new innovations and improvements in technology are made for personal devices, airport security technology has evolved as well for the better. According to Travel Market Report, overall airport security satisfaction hit 67.5% this year, up from 63.6% last year, and the percentage of travelers dissatisfied with airport screening dropped from 17% to 14.9%. Part of this improvement is the fact that there is an increase in the number of Transportation Security Administration (TSA) staff. This is a huge improvement because the traveling market has grown greatly so in order to keep up with the demanding market, change was needed on the behalf of TSA. Many people get frustrated with the amount of time it takes to get through baggage screening. Recently there has been an airline investment in more modern screening equipment, allowing faster and more efficient processing of passengers at check-in. The TSA says that they have made more room in their budget for more overtime and part-time help, especially during the peak seasons with the massive crowds. These peak seasons are the biggest market opportunities for airplane companies and security. This incorporates product/service management because TSA is improving their security in response to market opportunities.

As well as this, the Transportation Security Administration has been working with the AAAE and the ACI on a widespread assessment of airport security. The associations and airports themselves are providing detailed information and suggestions as part of the effort to improve airport security. Doing this is another way for the TSA to strengthen their processes and improve overall as a widely used service. This product/service management is being used in TSA through their increase in workers, investment in more modern screening equipment, and researching and doing everything they can to develop, maintain and improve their airport security service, in response to the growing market opportunities.