Monday, January 27, 2014

Location Location Location


Take a look at this short video which gives a snapshot around economics and location.  How do you think, as a consumer, you are profiled by your current location. 

 Respond: Explain your reasoning.

12 comments:

  1. As a consumer, I am targeted based on my location in which I am currently living in the United States, CA. America is one of the top consumers which also makes us one of the most wealthiest countries bringing money in and out of countries. Being a consumer myself, entrepreneurs try to target their target audience based on their age, gender, ethnicity. Californians are high consumers of the latest gadgets such as Apple or Microsoft, which affects the economy within California because a lot of its money is not being invested within the county, neighborhoods, small businesses, etc. When something needs to be repaired the money to repair the damage comes from tax payers. Economist keep track of events that may happen that change the balance of the economy.

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    1. I agree with Maria That as a matter of fact we are searched for based on location,age,and gender.The fact that Americans are so materialistic we tend to focus more on new trends rather that on our economy. I believe this is true because just like Maria said we really don't have to worry about paying any extra fees because at the end of the day tax payers money pays those charges ,but if we really put some thought into things we our selfs are taxpayers so then the real question is are we really getting free service or are we ending up paying our own bills.

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  2. I think we are profiled by our location to show were we have lived as we start to enter the world as adults. Also to provide business or corporations the type of things we are interested in. Most people move closer to their favorite store or favorite place to hang out at. Everyone is profiled by where they live and where they come from, it all starts at the place where you were born.

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  3. As a consumer living in the bay area, I believe we are profiled as people who are always invested in the latest trends. From Apple products to Jordan's newest shoes. We as consumers in the bay area, contribute to consuming a lot of products. For example, our weather is not extremely cold or hot. That kind of information can help profile people from the bay area into what kind of things they will consume, from clothes to food, etc. Also since we are near the silicon valley, the technology choices in our area are much higher than any other states'

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    1. I agree with Josh. Also, Bay Area is more expensive so as consumers we spend more money due to the higher prices. Like Josh said, people in the Bay Area follow trends and it increases demand and that causes prices and that affects us a lot as consumers. Different locations have different profiles because some areas are more expensive than others and also a lot of things like weather effects what people buy or not and that effects prices. Location matters a lot !

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  4. We are all being targeted based on location for everything including things like food, technology, clothes, shoes, etc. Companies use demographics to target a certain group of people by either gender, ethnic group, or age. For example, a mall will not likely be placed somewhere in the middle of nowhere in a small town, it would likely be placed in a big city. Or also a night club would be in a city where they know a lot of younger people live around instead of somewhere older people live in. Even as children, companies are targeting you because companies are looking at city and town where many children live in and place stores or item that are intended for child use. But I believe this is a good thing because stores and companies are accommodating us by providing us with things we like and would buy based on demographic information.

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  5. We live in such a treading area from the latest electronics to the newest food crazy the bay area is jumping in on it, we also live in extremely divers area which puts us under a microscope for market research. Introduce something new to this area and if it works it should be good enough to sell everywhere else. As a consumer seeing this kind of data makes me think of the location I live in as a petri dish things get tested on us to see how different groups will respond. This information is extremely useful for research and I feel should continue.

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  6. It's incredibly amazing that Russian's would pay a tremendous fee to build a stadium that would only be used for a month or so. Being in there shoes, I can think of a single reason that would make sense to the craziness of there idea. I came to a conclusion, if Russian's were to pay 8.7 billion on a building that would host the Olympics they would win more in the long run. Millions of people travel to see the Olympics causing them to stay in Russia for more than just a week. This benefits them because they can earn more money then what they had spent on the Olympics building. They can raise the prices of everything. At the end they would end up winning. Even though, the idea to of building a stadium seems crazy, because of there economy and that they can use that money for something more useful, such as health care. The other side of the idea is comprehensive and logic. As a economist.

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  7. As a person living in the United States we are one of the most consumed country and being a teenager in a certain area most businesses is based on us. our location and age it builds most of the businesses around us. Most corporations collect our data you know what we're interested in. most businesses I know what to sale by tracking what we buy

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  8. We have been targeted based on where we live. Living in such trending area has pushed society to have an impact as consumers. For example, people are buying things they most likely don't need but because their on sale they buy them. Companies know their customers, the things people will most likely buy in a city or a more rural area. That's one of the reasons they are using demographics as a way to alert us on the things that are happening in society.

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    1. I agree with Cano, we the American consumers fall into the physiological game stores play on consumers and our so called want to save money with discounts and coupons. Consumers are targeted by their demographics, so that they buy what is offered because it seems to benefit the consumer. For example if you live in Nevada where it shows consumers would want to buy products like warm clothes. This is where economics comes in, when you decide to buy a product because it either cheap, god, pretty and useful. In my opinion on what I have observed is that you may already have purchased a product, yet you want to buy more than one of the same product even if you don’t need it, because it’s on sale or you have coupons. The Americans consumers tend to buy products they don’t need but on they want, therefore consumers are easily targeted and fooled to spend their money.

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  9. As a consumer in the bay area, I think we are targeted based on how the city is revolving. In the bay area most people invest most of there attention and money into the latest trending electronics and fashion. Companies target us based on what people mostly put most of their time and money into. For example, the basic iPhone is no longer popular enough to continue to be carried by apple, so it is replaced with and iPhone that talks and responds to you every need. Companies know that people in the bay area are up to try anything different, and out of our element. In my opinion 50% of America is filled with smart phones and dumb people, because they are so caught up in the newest trends, and stopped caring about their basic needs and wants that money could be put towards. That's exactly what companies want. Most companies target teenagers in my area because we help thing trend faster, and most teens are ban-wagoners so that's makes us the easiest target.

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