MK103 - Athena G

Picture this...you come home from work and there's a package waiting.  What could it be, you don't remember ordering anything.  You open it up and it's...a cat brush that emits steam.  Or a bag of Swedish candy.  Or a mini trampoline for exercise.  Or...the list goes on* Was this done in a fever dream?  Was I intoxicated?  Depressed?  Perhaps all three. Social commerce is fueled by the significant amount of time that consumers spend on social media  —US adults will spend 11.4% of their total daily media time and 17.9% of their digital media time with social platforms in 2024, per EMARKETER’s June 2023 forecast.   https://www.emarketer.com/insights/social-commerce-brand-trends-marketing-strategies/ According to Forbes, social commerce is expected to hit $1.2 trillion market value by 2025.  And this phenomenon affects your large stores of course, but it is the smaller retailers that can capture sales with unique products that are...

One of the topics this week was "interactive marketing" and it made me think...do I like this?  Every week I've become the old woman waving his fist and yelling "get off my lawn" because apparently, we're being sold or marketed to 24/7 and I hate it.  But interactive marketing...I like.   But why? I think I like it because it's the ultimate time suck and I don't have to engage with people.  Do I need to know how to make 12 beverages with gin?  No, gin gives me a headache, but I will click through and tell 3 people about the Bombay Sapphire recipes I found.  Mission accomplished. Interactive media can include quizzes, quizzes, polls, surveys, and my favorite slideshows. This article explains why it works:  11 Interactive Marketing Examples That Inspire, Engage, and Convert

What causes a supply chain failure? Of course, dependence on a single supplier, inadequate infrastructure, quality assurance, natural disaster and political risks all have their place.   But how to explain that to the average person... Here are some of the silliest supply chain issues in recent history: Americans were panic-buying and fighting over toilet paper Imagine trying to explain to yourself in late 2019 that just a few short months later, Americans would be panic-buying and fighting in the store aisles for toilet paper. Toilet paper was where pandemic supply chain conundrums started — and things only got weirder from there. Another weird fact: bidet sales in the U.S. soared during the great TP shortage! Girl Scouts had to explain supply chain shortages to angry customers Selling Girl Scout cookies is typically such a rewarding activity, with young women learning entrepreneurial skills and valuable life lessons. And it’s usually such a joy for everyone involved — t...

  When did even/odd pricing start?  I found two possible explanations: One story is that it forced the cashier to open the cash register to give change. By pricing an item at $4.75 or 49.95, the cashier would need to access change and open the register, which  recorded the sale . Otherwise the cashier could potentially put the $5 or $50 in their pocket without opening the register. Another story is that in the early 1900s, JCPenney conducted a pricing study and concluded that people perceive a deal when the price ends in 7, 8, or 9 and that the odd number creates a sense of urgency to purchase.   Because I love all things sociological and psychological, I had to ask: But, why? An  odd price  ending conveys the impression of a discounted price. Consumers tend to pay attention to the first digit of a price, so reducing a product from $3.00 to $2.99 will be perceived as a value and lead to 10% to 30% higher sales. Odd pricing also gives the illusion that ...

  I came across this image, and I found it amusing and wanted to share and use it as a starting point to talk product life cycles.  However, while coming up with some pithy intro I remembered... Bic pens were created in 1950 by entrepreneur Marcel Bich.  In 2006 it became the bestselling pen in the world selling its 100 billionth pen.  It is even in the Museum of Modern Art, but it is also in the Museum of Failure. Because in 2012, Bic introduced "Bic Crystal For Her". Marketing a thinner barrel for better handling and the "plug color" matches the ink.   Needless to say, it was not well received and was quickly discontinued.  But not before the reviews started:

This week I discovered a lighthearted comedy pop podcast called The Big Flop.  "Find out what happens when massive hype turns into a major fiasco, and join us as we try to answer the age-old question...Who thought THIS was a good idea?!" Two of the episodes I listened to this week were on the JCPenney --> JCP rebranding and the McDonald's Arch Deluxe.  I recommend the podcast if you're looking for a quick recap of historical fiascos.   This article discusses data literacy and how market research done poorly can be a disaster :  Why Data Literacy Matters . . . Or Why McDonald’s Arch Deluxe Disappeared McDonald's spent over 150 million in marketing to roll out (pun intended) a burger that noone wanted.   The Arch Deluxe Was a Hell of a Burger. It Was Also McDonald’s Most Expensive Flop. "Had the Arch Deluxe debuted in a different time, and with a different marketing gimmick, there’s a chance it could’ve been a hit. Only three years after the burger’s ...