Reflection: Week 1

"How in the world are you going to compete?"

In a clip from the television show "Shark Tank" we learned about a woman ,Kayla, and her vision for her company "Kalyx Technologies". Kalyx Technologies is a sports bra company that strives to provide comfort for women while exercising. Specifically, Kalyx Technologies targets active women, perhaps between the ages of 18 and 40, who experience breast pain while exercising.

While the idea behind Kayla's Technologies sports bra is innovative, it is nearly impossible for the start-up company to compete in the same market with established brands such as Nike, Under Armour, Adidas, and Champion....or is it?

Chapters 1 and 2 of the textbook MKTG10 Principles of Marketing provides several techniques to help aspiring business students answer Kayla's question: "How in the world are you going to compete?"

Competitive Pricing: 

If Kaylx Technologies is going to compete in a market in which its competitors spend millions, if not billions, of dollars on advertising and promotions, then its sports bras must be competitively priced! Additionally, Kaylx Technolgoes might convince more consumers to try their new, unfamiliar brand if it is at little cost to them.

 Provide Variety: 

Because Kaylx Technologies is a virtually nameless brand, it needs to provide a wide variety of sports bras with different levels of support in order to entice as many consumers as possible. Providing variety is one way for Technologies to demonstrate their ability to understand their customer and meet their needs.

When considering which type of sports bras are in demand,  Kaylx Technologies should establish a brand for themselves so that consumers can begin to recognize their products. Often times establishing a brand also gives your product value, and consumers want products that are perceived as "valuable"

Launch Social Media Campaign: 

Assuming Kaylx technolgies' target market is active females between the ages of 18 and 40, it will be crucial for the company to launch a social media campaign to get more consumers to consider their product. Social media sites such as Instagram, Facebook, and Twitter are examples of good platforms for launching a social media campaign.

While creating a social media site will provide an advantage for Kaylx Technologies in terms of getting more consumers to view their product, this approach could be an expensive one. If Kaylx Technolgies implements a feasible marketing plan, this type of campaign could be very beneficial.D

Design/ Asthetics: 

All active women can tell you that there are few sports bras that look "sexy" or make you feel "sexy" while exercising that won't break the bank. Kalyx Technologies is trying to differentiate themselves as a sports bra company that strives for the best of both worlds: comfort while exercising and looking great doing it! This business mission is something Kalyx can capitalize on and really try to appeal to their customers through the design of their bras.

Week 1: Introduction to Marketing Concepts

When you hear the term "marketing" what comes to mind? For me, the first thing that came to mind was advertising. However, marketing is much more than advertising. Marketing is segmentation, sales, and even philosophy. But, more than anything else, marketing is knowing your customer and being willing to serve their needs.

In order to serve your customer and their needs, you must invest resources into a marketing plan and a marketing strategy. It is also imperative that you understand your firm's strengths and weaknesses in terms of which markets your are competing in and which markets your firm hopes to move into.


When preparing a marketing plan, it is necessary to consider your firms strategic business units (SBUs) and how much resources need to be allocated into each unit. It is also important to determine whether they are worth building, holding onto, harvesting, or divesting.

When preparing a marketing plan, it is also crucial for firms to develop a relationship with their customers. Loyal customers will make your firm the most money because they are just as invested in your product as you are. In order for a firm to establish loyal customers, they must make continuous improvements to the product and respond to customer needs.