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Myspace significantly reduces staffs to compete with fast growing Facebook.

August 16, 2009 by 5 Comments
Image representing MySpace as depicted in Crun...
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Can you believe that Myspace is letting go 30% of it workers? That is so crazy. I remember, when Myspace first started, all of my friends created an account and could not stop talking about it. Myspace was the premiere social networking site on the internet. But now its growth cycle is on its way down because of the new social networking site such as Facebook and Twitter.

I cannot believe it. What a pity but desperate times call for desperate measures. Can Myspace save itself by cutting down the fact? Should myspace renew it website? What do you think? Is the same going to happen to Facebook and Twitter if a new social networking site is created? I hope not, but the evolution you never know.

Now no one talks about myspace anymore. It is like myspace has never existed despite its popularity. This is the night mare part of business when it comes to evolution. What is lost for such a powerful company. Can Myspace compete against facebook and twitter? I do not know how about you?

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Firms know what to look for when it comes to target marketing

August 9, 2009 by 10 Comments
An example of street markets accepting credit ...
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Some firms are very good and know what to do when it comes to target market selections.  Target market adapts the marketing mix for one or more segment.  Credit card companies for instance target young college students like me.  They hope to influence the way I buy things. Just yesterday, a credit card company called me to tell me that I have been selected to receive a certain credit dollars from the company even though they know that do not an income right now. Because, I am a college student they are banking on me getting a good job with good disposable income.

The credit card companies take big risk but it must pay off because they have been doing that for many years.  Sometimes, I wonder if they make profit this way. Because, I believe and I am sure that not every credit card holder is able to pay off their loan. Credit card companies continue to do this so the data must support their decision.

Credit t card companies are not doing so well these days; it is interesting to see if they will change their tactics.

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Marketing can be cheap but still effective

August 8, 2009 by 3 Comments
Cover of Madea's Class Reunion.
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When I went the movie last weekend saw the movie “Madea Goes to Jail” I only chose this movie because one of my friends recommended it to me. She told me that the movie was very funny. I watched the movie and yes it was worthy. Although I did see many advertisements for the movie I was not impressed enough by them to make me go see the movie.

It was not until when my friend told me that “M you must see this movie, I promise, it is pretty funny”. So after that I decided to spend my money and time to go see the movie. What? I am a college student with no job so I have limited funds.

I can only describe my decision to see the movie as a Word Of Mouth marketing (WOM). I doubt that Tyler Perry paid my friend any money to advertise the movie “Madea Goes to Jail”. WOM is a type of marketing that does not cost much, but if you put out good product it pays for its own marketing many times. But be aware that it is worth the same way if the product is not good.

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What an Incredible Opinion leader she is. Wow

July 20, 2009 by 1 Comment
Oprah Winfrey as Sofia in The Color Purple.
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One of the biggest opinion leaders is Oprah Winfrey. The Oprah Winfrey Show generates many viewers in the thousands and millions. People tend to listen to anything Opera has to say whether it’s good or bad. On a statistical basis, any product that appears on Oprah’s show experiences a positive spike in sales. This has been proven over and over and with such a result she is truly an influential force. One may say that Oprah is what you would call a true and sincere opinion leader since primarily all she does is give her opinion in most cases, thus, you cannot say she is wrong or right. This is a very tactical way to sell a product.

Certain segments believe that Opera is a reliable source when it comes to books. She is a very successful opinion leader because of her good reputation and her great highlight. Opera is also seen has a role model because of her promotion of global education and her experiences.

Oprah has been a reliable opinion leader for many companies. People trust her opinion no matter what. Sometimes, I wonder if all her recommendations meet the needs of the people who listen to her opinion. I believe that she is great but I do not think that it is possible to just fall in love with a book because Oprah recommends it. We all have different tastes, but  because Oprah makes we ignore that and buy something that she advertises or recommands.

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