On Monday's class we spoke to Scott Smith and Isaiah Jin from the state department of policy and diplomatic innovation respectively. It was a great conversation learning how governments make policies and how startups are affected by them. I really liked that they were so interested in the ideas everyone has and from where the need of those ideas stems from. Isaiah was particularly passionate about others passions and it was truly great seeing someone being so happy with the work you are doing. Another good thing was that they were interested in learning where we would have previously faced problems with respect to the government here or even for that matter those in our home countries with respect to starting a business. They do want to learn from other situations in other countries too so that their policies can better USA as a whole and not repeat the same problems elsewhere. I learned a little about how the government works and how new policies are made and where do they find the need for a policy.
On Wednesdays class we learned about something I really like, marketing and sales, and I like them simply because there are no boundaries and you can be very very creative. The 4P's of marketing is something I had studied before as a subject in my engineering undergrad and even though we just touched upon it I knew it has a huge impact on a product and a company. It defines what the company wants itself to be seen in the customers eyes. A lot of the way companies differentiate themselves is with advertising and marketing. One industry that is a great example of this is the automotive sector. Come to think of it, most of the car companies are selling customers the exact same product, but the way they sell the product is very different from each other. One great example of marketing wars comes in the high luxury sector of the automobile industry. Take a look at the image below of two rival companies, BMW and Audi having a go at each other very publically. It is hilarious what they both come up with in the series of billboards.
I find it amazing that how creatively marketed some products are. One more example is the Honda Hands commercial. Its great advertising which actually showcases most of what Honda does in about 2 minutes. Have a look!
Also marketing and sales comprise of how price of the product is governed and where it is sold. These factors are as important as the product you make. For example, you may have a pretty good product but if its priced above the reach of the customers you are targeting then no one will be able to purchase it. Making sure the price is set right is key.
So now that we have established how important marketing and sales is for LUVwater I would intend it to be marketed as a green, energy efficient and self-sustainable product. The product itself will showcase that it is green by using materials that are biodegradable and can be used for a long time, thus eliminating waste from other things like plastic bottles.
On Wednesdays class we learned about something I really like, marketing and sales, and I like them simply because there are no boundaries and you can be very very creative. The 4P's of marketing is something I had studied before as a subject in my engineering undergrad and even though we just touched upon it I knew it has a huge impact on a product and a company. It defines what the company wants itself to be seen in the customers eyes. A lot of the way companies differentiate themselves is with advertising and marketing. One industry that is a great example of this is the automotive sector. Come to think of it, most of the car companies are selling customers the exact same product, but the way they sell the product is very different from each other. One great example of marketing wars comes in the high luxury sector of the automobile industry. Take a look at the image below of two rival companies, BMW and Audi having a go at each other very publically. It is hilarious what they both come up with in the series of billboards.
I find it amazing that how creatively marketed some products are. One more example is the Honda Hands commercial. Its great advertising which actually showcases most of what Honda does in about 2 minutes. Have a look!
So now that we have established how important marketing and sales is for LUVwater I would intend it to be marketed as a green, energy efficient and self-sustainable product. The product itself will showcase that it is green by using materials that are biodegradable and can be used for a long time, thus eliminating waste from other things like plastic bottles.
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