Week 3 - Why People Pay More For The Same Product That Was Produced By A Different Company

There are many different companies who specialize in producing different products. However, many companies have similarities in their products. For example, Intel and AMD both produce Central Processing Units or CPUs, however, the prices of these items differ significantly. Intel CPUs are, on average, more expensive than AMD CPUs. This could be the result of a multitude of reasons. One reason Intel CPUs are more expensive than AMD could possibly be because that more people know and trust Intel to produce a strong yet reliable CPU to power their computer. Due to Intel's marketing strategies and individual development over the years, they have built themselves up to be a sturdy driving force in producing quality content for their customers.

Despite Intel seemingly running a monopoly on CPUs, AMD has still come into its own by releasing CPUs that challenge Intel. There are many strengths that AMD has over Intel in terms of producing CPUs. For example, the biggest reason why some people actually prefer AMD over Intel is because AMD CPUs have the ability to be overclocked — a feature not all Intel Central Processing Units have.

Overall, there are many reasons why people flock to a certain company for their products. It could be due to a sense of trust that has been built between the customer and manufacturer. Or it could be simply because one offers features that the other does not. Either way, this specific example of competition between companies results in a betterment in technology.

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Week 16 - Marketing Strategy

Marketing strategies are what companies use in order to gain a competitive advantage in their business using the limited number of resources that they own. Companies who excel in creating and implementing superior marketing strategies tend are better off than those who are not. Some topics that will help businesses create a better marketing strategy are to develop a marketing plan, know one's target audience, and target marketing. Developing a marketing plan can be extremely useful to a company because it allows them to explore different areas and different marketing techniques and then proceed to go on using the one that yields the best results. A good marketing plan is one who takes into consideration what their customer wants from them and ease of access. By having and using a good marketing plan, it will inevitably provide easy to consume products that satisfies a customer's wants. Knowing one's target audience and target marketing go hand in hand. For example, targ...

Week 4 Blog 1 - Adapt, Adopt, Adept - Chapter 4: Surfing the Tsunami - My Takeaway

After reading Chapter 4 of Surfing The Tsunami by Todd Kelsey, I was informed of the three different levels of responding to AI. Adapting to AI is when one becomes aware of what AI is and where it is heading. Adopting AI is when one starts to utilize AI tools and programs. Finally, being Adept to AI is when one is actively included in the process of pushing the AI boundary and creating new tech that allows it to flourish. Recently, I have been taking a class on Digital Marketing, and at the beginning, I believe myself to have been in the Adapting category. I was aware of AI and what its capabilities were, however, I was not used to utilizing AI and its tools. As of now, however, I believe myself to be in the Adopting category because of my extensive use and research into ChatGPT and OpenAI. These tools are wonderful accessories that enables the search of the vast internet to be much faster and easier. AI like ChatGPT and OpenAI are still in ...

Week 16 - The Holiday Season and Its Impact on Marketing

The holiday season is upon us and that means ads, ads, and more ads. It is no secret that there are definitely more advertisements and sales that go on during the holiday season when compared to any other time of the year and that is not a coincidence. Many Businesses understand the timeliness of this specific time of year and issue sales accordingly. Because the holiday season is all about giving and being kind, companies use that to their advantage. By putting a bunch of their own products on sale, they are increasing the likelihood that potential customers will buy that product as a gift for someone else. Another reason for all the sales the companies have on their products during the holiday season is because it is a great way to bring in new customers by giving them coupons and other money saving opportunities in the future.

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