Virtual Business Project

1. I do not think I was a successful business owner.  The first season that I did in 2008 I forgot to do advertising, promotions and licensing because I thought that I had set it last class, but apparently I did not.  Unfortunately, because of this thoughtless mistake,  the attendance was really low, and the the profit was even worse. Even though I tried to fix my mistake by doing the advertising, promotions and licensing in the 2009 and 2010 seasons, I  ultimately went bankrupt in the middle of 2010 season.  Then when I started a new season, things did not get much better.  I really did try my best though and I did market research. 

2. My primary purpose in playing and managing this simulation was to make a positive profit and to learn how to manage a business. It make me realize how hard it was a to run a successful business and how much work it behind every business.   

3. My two main reasons for not making money were my advertising and the fans did not show up on time, causing me to lose money.

4. I think I was best at licensing because it was easy to know which one is the best deal or a bad deal by using math, whereas sponsorship and ticket prices, you had to rely on taking a change and market research which isn't very reliable.   

5. My biggest weakness was advertising.  I do not think that I was good at advertising because I just put in random numbers, without any calculations.  

6. I managed yield management pricing by changing the ticket prices for different seats.  I made the best seats worth more money and the worst seats cost the least.  

7. I used market research to see the best city with the most devoted football fans.  I also used market research to see how much money the fans were willing to pay.  Lastly, I used market research to see what promotional items were the most appealing.  

8. The infrastructure of my city's businesses affects the running of my team because I can make sponsorship deals with these businesses.  If I couldn't make sponsorship deals, then my profit would be much lower. 

9. It is important to ask questions about devotion when trying to determine where to locate  your team because you want to choose a location with the most devoted fans.  The city with the most devoted fans will have more people attend the games.  It is also important to ask questions about ticket prices when trying to determine where to locate your team because you want to choose a location where people are not cheap and they are willing to spend money.  This will help you better your chances of making a profit.  

10. If I was to go to one of my games, I would want to receive a hat because I really like hats and I would wear it a lot. 

Group Project

The group project went okay.  The final project was also fine.  I prefer to work individually rather than in groups.   The brainstorming experience was easy.  It was easy to make decisions.  Yes, I feel like I contributed a lot to the project.    

Black Friday and Cyber Monday

Black Friday is the day after Thanksgiving in which crowds of consumers are drawn to special offers and sales by retailers.  Cyber Monday is the Monday after Thanksgiving in which there are exceptional online sales from retailers.  Personally, I prefer Cyber Monday over Black Friday.  Black Friday is very stressful because there are so many people hunting and fighting for great deals.  It gets overwhelming and tiring.  On the other hand, Cyber Monday is great.  You can sit on your couch with your laptop and shop and get awesome deals and sales.  You do not have to leave your house, wait in line, face the other consumers or waste time looking for the right size.  I think the concepts of Black Friday and Cyber Monday are fun because it gets you into the Christmas and holiday spirit.  However, I do not think that Black Friday should start Thanksgiving evening. It should start on Friday.  Thanksgiving should be spent with the family, not out shopping, hunting for bargains.  Also, it is unfair to the employees that have to come in and work. 

Real Life

Real Life is a magazine that has articles on 10 different reality TV shows.  Each page is dedicated to a different show, and the advertisements on the page relate to the show and target market.  For example, for the article on The Voice, there is an advertisement on the page next to it for Bobs shoes. Danielle Bradberry, the winner of The Voice in season 4, is the spokesperson for Bobs shoes, and she is in the ad.   In general the target market for this magazine is women from the age of 18 to the age of 49.

Promotions

Promotional Mix for Wisdom Wonder
1. Radio ads on popular radio stations in Ithaca, NY will promote the drink.
2. Online ads will appear on the Cornell website.
3. Free sample will be given out by the mascot to the fans at the football games, hockey games and lacrosse games.                                                                                                                                              
I can use various types of print media to help promote the Wisdom Wonder.  For example, I can put an ad in the Cornell Daily Sun, a popular newspaper.  With this method, I will be able to target Cornell students and facility.  Additionally, a billboard located on the Cornell football field can advertise the drink. Lastly, a coupon for "Buy One Get one Free" will be mailed out to all the dorms on campus.

To price my drink, I did not use a strategy.  I priced the drink at $2.75.  This price is relatively high for a sports drink.  This price may hinder the sales because most students are not that wealthy and may not be able to afford it.  But the drink is well worth its price.

Sports Drink

Drink: Wisdom Wonder
College: Cornell University
Slogan: "Boost your brain and your brawn"

3 things that I liked about this project:
1. I liked physically making the prototype of the water bottle. It was a good visual.
2. I liked breaking the project into steps.
3. I liked that we had to use our creativity and imagination for the project.

2 things that I learned about this project: 
1. When designing a product it is important to consider the four P's.
2. It requires a lot of planning and research before you design a successful product.

1 Thing that I did not like about this project:
1. I did not like the early research stage.  Thinking of a slogan and a name was the hardest part.  

New Shows

Friday Sep 19: Z Nation  series premiere, 10 p.m., SyFy

Saturday Sep 20: Deliverence Creek (Nicholas Sparks’s revenge drama), 8 p.m., Lifetime

Sunday Sep 21: Madam Secretary series premiere, 8 p.m., CBS

Monday Sep 22: Gotham series premiere, 8 p.m., Fox

Tuesday Sep 23: NCIS: New Orleans series premiere, 9 p.m., CBS

Wednesday Sep 24: The Mysteries of Laura series premiere, 8 p.m., NBC

Thursday Sep 25: How to Get Away With Murder series premiere, 10 p.m., ABC