Business assignment #86489

Discuss whether his ideas are relevant in terms of marketing innovation and competitive advantage. How can you embed his thoughts ,expressed through the TED talk, into your project. For instance, if you are working on an entrepreneurial project ( domestic or international) , how can you embed his insights into your marketing mix? If you are working on an intrapreneurial project, how can you disseminate throughout the company, the information about the positive outcomes of your project? The initial post should be at least 600 words. Post with academic reference, will receive higher grades. During the following week you will reply to at least two of your classmates. The replies should be at least 200 words. See the discussion rubric for more details on grading. Discussions should always be completed prior to "class." If you are in an online class or an on ground course this is prior to the lesson portion of the week. Are you ready to begin? 1. Read 2. Watch 3. Watch the Ted Talk: 4. Initial Post 5. Reply Posts Do you agree or disagree with your classmates' posts, or can you offer different insight? Reply to 2 students. reply to student #1: There are many entrepreneurs who come up with innovative ideas and open their own business every day and every month. Not only entrepreneurs, everyone can have a creative and innovative idea but the problem is how to spread this idea to people as Seth Godin mentioned during the presentation. It is called marketing and the most effective way to draw people’s attention was through TV. People do not buy products in order to meet their basic needs anymore. They buy stuff to make them feel better, to improve the quality of their life, and to make themselves special. Especially, those who are willing to pay attention to remarkable products (they are sometimes called early adopters) do not wait until other people talk about it. They are seekers and frontiers to try remarkable and innovative products. They get bored with safe and average things that others are more likely to buy. It is important to draw their attention because they are the ones who spread words to others it will become popular. Even though there are not many early adopters, their words are very influential to others. Absolutely, it is really important to produce creative products or services but at the same time, companies need to figure out the customers for their new products. Once they find out their target, they need to make sure their target gets their products information. My project is for an existing non-profit organization to open a for-profit entity to make profits and support the services that its organization provides to the community. Since non-profit organizations tend to struggle with funding, opening a for-profit entity will help them financially settle down. This existing company will provide fingerprint services to other non-profit organizations in the social services field. This project is not only to help the existing organization but also other non-profit social service organizations by lowing the fingerprint cost. It seems like it is not a remarkable project because there are many fingerprint agencies. However, as Seth described in the presentation, it is important how to present this project to the right audiences. This project will be presented to non-profit organizations in the social services field in the Washington D.C. metropolitan area. Also, it will be presented to the grantors for criminal checks as well as to those people who are interested in social services. Once our project is announced to those who are willing to become a volunteer in social services, it will be spread by word of mouth eventually. Student #2: As Seth Godin mentioned in the Ted Talk in 2003 “That people who can spread ideas, regardless of what those ideas are, win.” In the era of technology, we are living, the companies need to make the marketing for their products different, they need to make the segment of the market they are trying to target to look at their promotion, to get their attention and at the end make the consumers want to buy their product or services. The consumers have access to all type of information with a click of their fingers and they can spend time researching things that may satisfy their needs; and it is not necessarily something that is very marketable to the public, it is known for only does that are looking specifically for it and it covers the need for them. These products are being done to target a specific audience. But to target these different segments to sell the product or service the companies need to understand the market they are selecting. “Firms should utilize external information flows to innovate in both their products and organization as a prerequisite to marketing innovation.” (Ramirez, Parra-Requena, Ruiz-Ortega &Garcia-Villaverde, 2018) The companies before they start marketing their products they need to understand what it is that is making the consumers tick and what they want and do not know that they need it, or simply enough make the consumer curious enough in the product or service that they will be willing to try it and at the ends finish buying. Creating the idea of want and desire for a product or service, this is how the innovated marketing works. After understanding their consumers then companies need to start creating marketing that is done base on the research these customers are doing in the web. As Seth Godin mentions “I want to receive me mail.” Setting target marketing to a segment of the market that the company has study and know their necessities the probability that they will buy their products that they are marketing is high. An example of this practice is when looking at products in Amazon, they provide suggestions that may be what you are looking for or are products that are will go well with the purchase you just made. Because this type of marketing is done base on algorithms. This type of marketing is designed to be as custom made without truly spending money in a campaign. In innovating a service in a company that is very set in their ways of how to do things, the way to communicate to the company that they need to have the new service in their company, is to convince the company management that the way forward is changing the product and service they offer so it’s more convenient to them to have this service and show the management the benefit they will be receiving because they are offering the new service. Following Seth Godin thoughts presenting to the company that “they've got way more choices than they used to, and way less time.” The only way to make things better for the company is having the new service in place. This way the company may free up time from different departments and restructure does department to expand operations. As the end goal of any for profit company is to generate income, and if the company can spend time in creating new services or expanding the market they target, they will generate more.