Jackson Steele's Marketing BU-214 Blog

Hello Everybody! I am Jackson Steele and I am a sophomore at Saint Michaels College in Vermont. I am a Business Administration major and I have not yet declared a minor. I am a member of the Men’s soccer team and a big supporter of all Saint Michael’s athletic teams. Coming into my sophomore year I definitely set the bar higher for myself, and I want to get as much out the classes I have enrolled in as I can.  I have high expectations for myself this year and with a strong work rate I am confident I can reach all my goals. On top of taking more challenging courses and creating a harder schedule for myself I have started a clothing company with one of my teammates. Our company is called Stumble Clothing Company and it is an LLC. I think this will be very beneficial to myself, because with all the concepts I learn this year in business classes, I will be able to practice in the real world gaining real life experience. I hope my introduction intrigues you to keep reading and follow me as I discuss the terms and concepts I learn throughout the semester, and how I can apply some of these ideas and these terms to Stumble.

 

These first two weeks of class I have learned basic marketing strategies and about creating customer relationships. We have looked into basic terms we will need for the rest of the semester such as “marketing” which is the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large. We have looked at other main terms for the course as well but I think that everything we learn in this course comes right back to that definition.  One of the other key terms we learned was “market”. This is people with both the desire and ability to buy a specific offering. I have already found this very useful, and I was able to go back in my companies marketing plan and re-evaluate the market we are trying to hit. This brings me to another key term from the first few weeks; “Target market”. A target market is a one or more specific groups of potential consumers toward which an organization directs its marketing program.  I was able to sit down with my co founders and re word our stated target market. We are a clothing company selling our clothes for what we see as mid level prices. We were able to decide our target market is teen age to college age males at prep schools and colleges in New England, rather than just college students, which what it was before.

The last major concept that I think is key when talking about what we have learned the past few weeks is the marketing mix. The marketing mix is the 4 P’s of marketing and how they are used. The 4 P’s are Product, Price, Place and Promotion. Product is a good, service, or idea to satisfy the consumer’s needs. Price what is exchanged for the product. Place is a means of getting the product to the consumer. The last one is Promotion and this is a means of communication between the seller and buyer.