The 16% Rule-Diffusion of Innovation

The 16% rule in regards to the Diffusion of Innovation is the idea that once 16% of the population have seized the innovation, the messaging needs to be altered to recognize the social impact that it has on the population. This idea is based off of the Diffusion of Innovation Adoption Curve which was created by Everett Rodgers and breaks up the population into five categories. The five categories include Innovators (2.5%), Early Adopters (13.5%), Early Majority (34%), Late Majority (34%), and the Laggards (16%). Based on the 16% rule, advertising needs be changed after the Innovators and Early Adopters have captured the innovation. This rule was created by Chris Maloney, a marketer from Australia. Some of examples of messages that are used after the 16% rule is applied are "Join the 100,000 customers who have already bought the product" or "If they love it, so will you!" I believe this philosophy is very important and significant to a business's success. The customers in the five different categories differ tremendously and therefore vary in the type of advertisements that they are attracted to. As the new product makes its way through the diffusion curve, it gets harder and harder to market to the intended group. This is essential for marketers to understand and bring to their advertisements. Marketers must apply this idea to their work and create the most creative, influential campaign for the other 84% of the population that is still skeptical about the new innovation.

Well Played

The first example of a company being cheeky with their social media is from DiGiorno. DiGiorno incorporates the well-known music scale (DOH, RAY, etc.) into their advertisement. They created a funny poem with these words to advertise their products in an effort to get attention. They changed DOH into DOUGH to put a play on words. They want this tweet to be something enjoyable  hat makes customers smile and influences them to buy a DiGiorno product.
. https://photos.app.goo.gl/U2l7s9qeTX7eOqsJ2

The second example of funny marketing through Twiter is Taco Bell. They refer to getting a girl by buying her some tacos instead of a good morning text in an effort to make their readers' laugh. When customers see this advertisement, it will stick with them and they will share it with others. Using a cheeky advertisement will allow Taco Bell to get their name out faster/more than before.
https://photos.app.goo.gl/lA1u52rAIGyLtDlE2

My last two examples invoves JetBlue's creative marketing. First, they use a comical tweet to play on one of their policies. Jet Blue uses a snowman reference to incorporate the current season/weather into their advertisement. This type of marketing will grab the readers' attention immediently because of its light-hearted feel and funny message. Second, Jet Blue uses a visual picture advertisement to be cheeky. They include a few people in different costumes (Santa, gingerbread man, etc.) dancing in an airport to advertisement their company and also spreading holiday spirit.  Because of how funny it is, customers will remember this advertisement.
https://photos.app.goo.gl/SeZSIGffcWxkLXxC3
https://photos.app.goo.gl/N97LWdYaaExu6ZUH3

Elon Musk's Response To Puerto Rico- Tesla Technologies

 Elon Musk, the CEO of Tesla, have been presented an incredible opportunity to be able to help the people of Puerto Rico from a devastating hurricane. After Hurricane Maria, Puerto Rico lost power and Governor Alejandro García Padilla desperately reached out to Elon Musk for help via twitter.  Elon acknowledged his request and stated that he hopes he will successfully be able to use solar power and Tesla Technologies in an effort to help the suffering country of Puerto Rico.

If Elon is successful, this could make a huge impact on how Tesla is perceived as a company. If he is able to help a country as large as Puerto, then is no stopping of the other countries he could help.  This is a one-in-a-lifetime opportunity to put a good name out for Tesla. It will prove that Tesla is a socially responsible company not only to the people of Puerto Rico, but to the rest of the world. People will trust Tesla and start to purchase their products because of what the company has done. 

One example of a company that has promoted their brand through giving back to the community is TOMS. TOMS created the "One For One" program in which they promised to donate one pair of shoes for every pair purchased to someone in need. The goal of this program was to help people in need in places across the world, such as Africa. This program had a huge impact on the company image and was able to attract many new customers. This program is so unique and helped TOMS stand out from the highly competitive shoe market. 

Another example of a company that took the initiative to help others is Generic Electric. In 2016, they contributed $88 billion to the community and educational programs. They also created the GE Foundation Matching Gifts Program. The focus of this foundation is to better health-care access for communities around the world. The generosity and determination to positively impact the world sets General Electric apart from other companies. They are the ranked number one for the most socially responsible corporate companies. They have proved to current and future customers that they care about them and will do everything in their power to help them.

Apple Keynote

In the Apple Keynote, September 2017 edition, many new and innovative products were introduced. To start off, Tom Cook describes the success of the latest apple watch leading him to introduce the New Apple Watch Series 3. This new watch will incorporate an enhanced heart rate tracker and heart rhythm feature. This incredible feature will benefit users by providing more information on the screen and will help thousands of people diagnosed with Atrial Fibrillation, a common heart condition that causes an abnormal heart rhythm. Additionally, this watch is equipped with a built-in cellular feature that is faster than ever. The convenience and the "right at your finger tips accessibility" is a huge benefit for many users and future customers. The watch is priced at $329 without cellular service, and $399 with service included. This is a great price for a product that incorporates the latest features and technology. This watch is unique in regards to many of the other watches on the market. Competitors include Fitbit, Garmin, and Samsung.



The next product introduced is the Apple TV 4K. This TV has four times the number of pixels, two times the CPU performance (clock speed), and four times the GPU performance (graphics)  to provide the highest quality picture and most advanced system. Users are able to automatically upgrade their existing movies to 4K HDR free of charge. These new features are a huge selling point and benefit anyone who is looking for a state of the art operating system. At $179.99, it is very competitive with Chromecast, Amazon Fire, and Roku.



The IPhone 8 was the next new product introduced. This phone has glass on both sides and comes in three new colors; silver, space gray, and a beautiful gold. The glass back allows for the phone to be charged wirelessly through the QI open wireless standard system. It is precisely sealed for water protection, has incredible color accuracy, and offers an enhanced 3D touch feature. This phone includes new stereo speakers that have a louder base; 25% louder than the existing IPhone 7. Users will benefit from the best audio system yet with sound that is able to cover a larger area. This is a selling point for teens and young adults as they love to play music from their phone. The new camera offers deeper pixels, a new color filter and sensor, and optical image stabilization. This is a very important feature that is always considered when customers are looking for a new phone. The new camera offers many features that benefits all ages and competes with Samsung's Galaxy stellar quality cameras. The price starts at $699.



The next product introduced was the IPhone 8 Plus. This phone offers a double camera lens that allows for light to be automatically changed when the photo is being taken as well as all the features included in the IPhone 8. The price of the new IPhone 8 Plus starts at $799.



The last product introduced was the IPhone X, the biggest leap forward since Apple's original IPhone. This phone is packed with all the latest technology including a slide screen, face-scanning feature through the True Depth camera system, animated emoticons and so much more. This incredible new IPhone starts at $999. Some of Apple's biggest competitors in the smartphone marketplace are Samsung, LG, and Motorola. They offer similar products but Apple is ahead of the competition with their latest IPhone reveals.



All of Apple's new products are great additions to their existing product line. They utilize the best technology available to continue to leap ahead of the competition.


Source: https://www.youtube.com/watch?v=Qhmx64wR1YI

Favorite Marketing Campaign

One of my favorite marketing campaigns is the Dove "You are more beautiful than you know" campaign. It is one of my favorites because it conveys a powerful message to viewers. It is very relatable for many people as it deals with self-esteem. It appealed to me because of the touching message and creativity. I have never seen a commercial similar to it. The overall message of this campaign is to help society realize that others do not look at us the same way we look at ourselves. The goal was to bring awareness to the issue of self-esteem and help educate the public about it. This campaign ran well with the "Dove" brand because they sell health and beauty products so it tied right in.

https://www.youtube.com/watch?v=XpaOjMXyJGk

Presidential Election and The Economy

In the first article, Forbes states that the stock market increases when an incumbent party won based on past statistics regardless of the political party. For example, the average Stock Market return when an incumbent party won increased 15.1% and decreased 4.4% when the incumbent party lost. Also, the average Stock Market return increased by 7.6% during the president election years overall. When a republican won, the average Stock Market returned increased 10.3%. When a democrat won, it increased 3.9%.  Based on these statistics, I have learned that the presidential election have impacted the financial markets in a negative way. During the presidential elections, the stock market usually decreases. I think the stock market increasing during the presidential elections is a good thing. It can also be a negative thing if it goes down. It will either help continue to provide growth in our economy or end up hurting our economy. In the second article, Tim Lucas states that the prediction for the housing market during the presidential election is uncertain. Since the stock market and economy are usually decreases, this can also affect the outcome of the housing market. There is a lot of uncertainty involved as both candidates running in the election are not a party of the incumbent party. Experts say that the value of homes rises more slowly in election years than in other years. In most cases, the presidential election is causing a negative effect on the financial status of the housing market. I think this is a negative thing and will affect our economy more and more as the years go on. If there is a large decrease in the stock market and housing market, it will cause a drastic effect on our nation’s financial status as a whole. This could lead to many future issues. 

http://www.forbes.com/sites/advisor/2016/08/02/how-will-this-election-affect-the-stock-market/#23207112334e

http://mymortgageinsider.com/how-will-the-2016-election-affect-the-housing-market-and-your-wallet/

Choice Post- 10/21

Fortune Article: Why Walmart’s CEO Is Taking His Billion Dollar Risks

                Walmart’s CEO, Doug McMillon is taking huge risks at in the world’s largest public company. Before it pays off, these changes will cost him millions of dollars.  One change is raising the pay of entry-workers and department managers.  He did this because Walmart was receiving bad reviews and low scores on surveys. Because of these reviews, shoppers were visiting Walmart less. To keep customers away from competition, McMillon is trying to improve the experience customers receive at the stores. Paying employees more will keep them happy, but also increase the Walmart’s yearly costs by over 1 billion dollars. Another change was to offer employees more training. Offering training would attract a different type of worker who are looking for a career, and not just short-term job. To train more employees, Walmart created 200 new training sites.  The final change that McMillon made was buying out Jet.com for 3.3 billion dollars.  He made this change to help Walmart compete with the second-level of online retailing. Because of the risks McMillon took, sales and customer satisfaction are rising.  McMillon is taking huge risks with these very high costing changes but he feels that is the only hope Walmart has left in the retail market.

http://fortune.com/2016/10/20/walmart-ceo-billion-dollar-doug-mcmillon-jetcom/