Tag Archives: marketing mix

by | Tuesday, April 30, 2024 · 7:50 am

Let’s NOT Lose a Finger at Work Today

I don’t know what you think, but I think having all my fingers is important, and worth paying for when buying power tools. The question is how much more to pay though?

If we consider possible compensation from insurers for fingers, it ranges upwards of $15,000 depending on injury and occupation. But maybe you’re a very careful woodworker and don’t think this can happen to you. It might be wise to look at the numbers: Table saws account for about 30,000 injuries per year, and of those, amputations happen nearly 4,300 times. Whoa. That’s a lot to consider.

Now, what if there was a saw that prevented the blade from cutting fingers and hands? Well, that would be great, but there is only one company that sells such a saw – SawStop.

SawStop products use a blade that carries a small electrical signal, which when skin connects with the blade, activates the safety system. An aluminum brake springs into the blade path, which in turn stops the blade and motor instantly. In less than 5 milliseconds, the blade drops beneath the table and removes all contact risk for woodworkers. No fingers lost.

SawStop holds more than 100 patents related to its safety mechanism and its laws cost more than competing models. It is the only company that has the technology, and SawStop has not agreed to license the technology. However, the Consumer Products Safety Commission is now considering a mandate that all saws be equipped with the stop mechanism.

On average, SawStop table saws cost several hundred to $1,000 more than conventional table saws. It seems few consumers are willing to pay the premium as less than two percent of the 675,000 table saws in the U.S. are from SawStop.

What would you pay for safety?

Group Activities and Discussion Questions:

  1. Poll students: How much would they pay for a saw that would not cut them accidently?
  2. Show SawStop website: https://www.sawstop.com/
  3. YouTube channel: https://www.youtube.com/@sawstop
  4. Pricing is a complex topic. Discuss the six steps for pricing (determining objectives, estimating demand, determining cost/profit relationships, select price level, set list price, and make adjustments).
  5. Discuss the various pricing models in class: demand-oriented, cost-oriented, profit-oriented, and competition-oriented.
  6. For SawStop, divide students into groups and have each group work on the six steps.
  7. When setting the price level, assign each team a different model to use (demand-oriented, cost- oriented, etc.).
  8. Debrief the exercise. Compare the various pricing models and discuss advantages/disadvantages of each.

Source: Blatt, B. (30 March 2024). How much would you pay to make sure you never sawed off a finger? New York Times.

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by | Thursday, December 21, 2023 · 7:48 am

Using Tap Technologies to Increase Donations

During the holiday season, we often see Santa and his helpers manning the Salvation Army’s Red Kettles. Usually, people will contribute their spare change into the kettle either entering or leaving a store. But, in today’s growing cash-less society, people seldom have extra cash on hand to contribute to charity. This presents a problem for organizations such as the Salvation Army who rely on cash contributions in its annual Red Kettle program.

This year – problem solved! The Salvation Army is testing tap technology at its red kettles so that donors can give money with a simple tap of their credit card or smart phone. No dollar bills required (but still accepted!). For consumers, there is no learning curve as we are all used to tapping credit cards at retail stores and gas pumps.

This isn’t the only use of digital technology in the non-profit sector. Many other non-profits (plus the Salvation Army) promote paying using Venmo, PayPal, using QR codes and tap-pay options.

Online giving is increasingly being used and is effective with younger donors. According to a Giving USA report, 81% of millennials, 69% of Gen Xers, and 61% of baby boomers give their donations online. However, all is not good news. Due to many changes in the economy and technology post-pandemic, total giving by individuals dropped 6.4% from 2021. A cause for concern that the Salvation Army helps to solve using new technology.

The tap makes it easier to give – tap away!

 Group Activities and Discussion Questions:

  1. Poll students: What charities might they give to? How would they prefer to donate?
  2. Show the Salvation Army website: https://www.salvationarmyusa.org/usn/
  3. Navigate to the donation page.
  4. While developing the marketing for charities is different than for-profit marketing, there are still similar techniques and media channels.
  5. OPTION: Have students research how to do effective non-profiting marketing.
  6. Example: Salesforce’s guide to nonprofit marketing: https://www.salesforce.org/resources/article/nonprofit-marketing/
  7. Example: Double the Donation’s guide: https://doublethedonation.com/nonprofit-marketing/
  8. Divide students into teams. Have each team select a charity to examine.
  9. For their chosen charity, have students access the Web site and analyze how the charity solicits and accepts donations. (Ex: American Red Cross, American Cancer Society, Habitat for Humanity, etc.)
  10. Have each team develop a seasonal marketing plan for their chosen charity.

Source: Cha P. (9 November 2023). Salvation Army red kettle donations to kick off Friday. Chicago Sun Times; Smith, K. (7 November 2023). Twin Cities Salvation Army adds tap technology to red kettles to boost donations.  Minneapolis Star Tribune.

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by | Tuesday, August 1, 2023 · 12:06 pm

Meta launches ‘Threads’

X (previously known as Twitter) is under attack from Meta’s new app called ‘Threads.’ In less than a week after its launch in July, Threads signed up more than 100 million users. (It’s even a trending topic on X/Twitter.) While this level of new users is good news for Meta, the key will be getting people to use Threads long-term.   What is Threads? Threads is a social media app and microblogging tool. While it isn’t taking advertising placement – yet – it has access to all Facebook’s users plus Instagram and WhatsApp users. Threads allows users to log in using their Instagram or Facebook accounts, making the sign up process fast and easy. So easy that it signed up 30 million users in the first 24-hours of launch.   As a direct competitor to X, X’s lawyers immediately alleged that Meta hired X employees to help build Threads. X is used to controversy and, with recent limits on posts viewed daily and content moderation, no stranger to users ire at it. The biggest problem though is X’s loss of advertisers.   Threads is similar to X in many areas, including posts up to 500 text characters, reposting others’ threads, and posting photos and videos up to five minutes long. Threads is also free compared to users paying $8.00 per month for a X Blue subscription. Another allure of Threads is its quick connection to all your friends on Instagram. However, Threads does not have direct messaging yet, which keeps all posts in the public domain.   Time will tell how the marketplace, and eventually advertisers, bonds with Threads.   What do you think?      Group Activities and Discussion Questions:

  1. Poll students: Who has used Threads? Why? What is the experience?
  2. Show information about Threads: https://about.fb.com/news/2023/07/introducing-threads-new-app-text-sharing/
  3. View video about Threads: https://youtu.be/hbMJSn5GyOE  (there are many other videos also).
  4. What will move users to Threads from X/Twitter? What will move advertisers?
  5. Who are the competitors for Threads? (ex: BlueSky and Mastodon)
  6. Review key aspects of developing a product positioning map, including determining the axis labels for positioning.
  7. How should Threads position itself to beat out competitors?
  8. Divide students into teams and have each team develop a positioning map for Threads.

 Source: Chen, B., and Issac, M. (12 July 2023). Threads review: How Meta’s new app stacks up against Twitter. New York Times; Jackson, K., and Aguilar, N. (14 July 2023). Threads keeps growing, and new updates have arrived: What you need to know. CNET; Rodriguez, S., and Haggin, P. (6 July 2023). Meta’s Threads app see early success, drawing advertiser interest and Twitter’s ire. Wall Street Journal; Rodriguez, S. (6 July 2023). Day after Threads launches, Twitter accuses Meta of using its trade secrets. Wall Street Journal; other news sources.

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