Week 3: Marketing and Meetings

In my previous post, I ended with a lead into the results to my marketing survey. But after everything I have learned through my experiences this week, I realize that my results will be more effectively explained if I describe my week first. The highlights of my week included a marketing event at Arizona State University and my very first formal business meeting.

Marketing to ASU Students
On Thursday, I had the opportunity to work at Bravo's booth in front of the Memorial Union at ASU. Each week, ASU hosts various vendors to advertise and showcase their products. Bravo attracted users by raffling off tickets to Pot of Gold - a well-known concert amongst ASU students. The raffle worked as such: a download equaled one raffle; a donation to the Pat Tillman Foundation equaled ten raffles; a recruitment of a friend to download equaled ten additional raffles. My role at the booth was to attract students to come to the booth as they walked by. What I learned:

1. College students (well, basically anyone) love the word FREE: As soon as students saw the "Free Pot of Gold Tickets" sign they flocked to the booth. Yet, contrary to what I expected, many interested students were not weary to additional steps of downloading them app and donating because they saw value in the incentive. 
2. I need to explain Bravo's concept quickly and concisely: I forgot that young adults like myself have short attention spans. I must be able to relay Bravo and its mission in a way that is succinct, yet still get the idea across to students.

Bravo Board Meeting
My first business meeting was not what I expected - in a good way! Bravo creates the atmosphere in which the board is easygoing and fun, yet it can still accomplish what it needs to. I enjoyed listening to the discussions that the board had on various topics within the business, whether they were current concerns or future innovations. What I learned:

1. The majority of business meetings are all conversation based: While the meeting began with a presentation, over half was conversation. I've had group projects at school, but I truly felt the significance of teamwork at this meeting. In a start-up, along with any business, multiple perspectives are what create successful ideas. 
2. Bravo is innovating: While I cannot say what was discussed, I know that Bravo is going in a great direction! The plans that the company has in terms of its technological innovations and its target market are going to differentiate itself from competitors and truly reach an wide-spread audience. 

After my experiences and looking at the results of the survey from last week, I realized a few ideas:

1. College students have a greater use for Bravo than high-school students: The majority of high-school students either use their parents' money or use cash, whereas more college students have jobs and utilize credit cards - making them a larger target for an app like Bravo.
2. My survey was catered to the wrong audience: The ad that I gave to the juniors last week was meant for people who have already used Bravo - something I did not realize until I helped at the booth this week. While the juniors understood the purpose of Bravo based on the ad, they didn't have a complete understanding of the purpose of the ad itself. Now I know that advertising Bravo to high-school students and college students differs based on the true need.
3. High-school students will eventually become the target market: As teenagers matriculate into college and become independent, they will become the users who find convenience in Bravo. My role now is to use word of mouth to spread the company's message.