Welcome back to another week of Blogonomics. This week, I have selected the following videos to show you the importance of marketing. As you watch these famous TV personalities, think of their target markets and how they differ from one another. Do we really need their products/services? Can you describe their target markets? Why do they excel in any economic environment? Find out about their past and how they got to where they are today.
VIDEO 1
VIDEO 2
Both videos include a short web commercial of about 15 seconds at the beginning. Make sure you watch the full video.
After watching both videos, it’s clear to me that both Suze and Jim are targeting two differ markets, but offering similar services. Both are offering advice and answers to their target markets, but Jim is more so targeting people who have at least a basic understanding of stocks and investments. Suze on the other hand is targeting people who just want answers to their financial situations. She’s not really giving people any information they don’t already know. In my opinion both services offered by Jim and Suze are not completely necessary, but are very helpful to many people. For some, all they need is some feedback from other people before making a decision on something especially in a money tight economy. This is why they both excel in what they do. After doing some research on each, I found that Suze is not just an financial advisor, but a motivational speaker and author. Jim graduated from Harvard University, earning his Juris Doctor degree. It was while he was in law school that Jim started investing money in the stock market.
After watching both videos I believe that we don’t necessarily need nether of them because all they are doing is just showing us what’s really there and what we don’t want to see. What Suze did was just re-ensure Christine the obvious, which is that she will be able to afford the pool without making any financial sacrifice. The same thing goes for Jim Cramer, he is just telling us to not always trust what we hear because when it comes to money some people are always going after what is the most beneficial for themselves and not others. I believe they are targeting the first time investors who are still confused about their finances and need a reinsurance from someonet who knows what they are talking about and no matter what economic period there will always be those kinds of people who need guidance and consulting. But this is still something we can do on our own.
People do need Suza Orman services / advice. Her target audience appears to be one that has an emotional connection to their money as compared to Crammers audience where they are looking for “hard cold” facts. Suzie taps into the emotional aspect of an individuals financial situation with segments like “can I afford it”. She always ends each show with her trade phrase “people first, then money, then things” She focuses on preparing her viewers for what life can throw at you financially and how to be prepared to solve it when it happens. On the other hand, Jim Cramer target market is financially interest population with a thirst for more information regarding the financial market. Jim Cramer is a lawyer, jornalist, investor, and co-founded TheStreet.com with The New Republic. Jim Cramer began the cable television program show Mad Money on CNBC in 2005. Some people do need his product/services because it is free information in terms of the average person can understand.
I am familiar with Suze Orman but this is the first time I have come across Jim Cramer. After watching both videos, I find that the products/services of both famous TV personalities are not necessary. I feel that Christine called Suze Orman just to be reassured on what to do, which is exactly what Suze Orman did. She didn’t tell Christine anything she probably didn’t already know. Like Suze Orman, Jim Cramer only stated what most people already know. He basically said not to trust anyone, because most people are only thinking about themselves and what is good from them. I found Suze Orman much easier to understand. She was right to the point while Jim Cramer seemed to keep rambling on. Suze Orman is targeting one particular person, who calls in, and she gives them advice. Jim Cramer is targeting an audience to educate them about the stock market.
Cramer is using marketing for the succes of his business. In this, he is defending that the tax must stay high to maintain the stock high. That is a sing of a good market. For Suze, she’s advising people how to spend money wisely. Both of them are successful because their ideas can be used at anytime,in good or bad economy.
After watching the videos I realized that because of the names they have created for themselves by having TV shows and writing books people feel like they need them even if they do not. I think Suzy targets people who want answers right away and Jim people who want directions of how to invest in the stock market. Because of Suzy’s money and investment problems in the past, people feel more connected to her. On the other side, Jim who has experience with investment is trying to advice people not to believe everything they hear or read they should find the information themselves.Suzy Orman and Jim Cramer are steel excelling in their careers because of their personal connection to their odience.
Cramer is a stock trader who shares his ideas on what stocks are hot or not.He loves what he does and tackles the subject like it’s a sport.Suze Orman caters to those who want to reduce debt,build equity and have a solid financial foundation. She caters to those trying to acquire or maintain a solid financial portfolio.She is a nurturing but straight forward figure so her audience look to her for guidance and reasurance on there financial difficulties, like getting advice fron your mother. They cater to two different markets Cramer’s market is for stock savvy viewers I wouldn’t advise a beginner to follow his advice because it’s so much info to soak up so fast.But he does give solid advice to those who know how to trade. I don’t think we need their service especially MAD Money Cramer’s show is like a get rich quick infomercial.He is like a game show host that caters to America’s gambling addiction. His viewers think they are going to make MAD Money off of his advice. Everyone knows the lottery and gambling doesn’t suffer as much in recessions. Suze I think gives solid information but it’s not needed you should know if you can afford something or not.But then again people getting into mortgages they couldn’t afford is half the reason we are in this economic depression. We need Suze Orman but one isn’t enough we need thousands of her working at banks denying people loans they can’t afford. In general we don’t need there services especially Cramer’s that’s like asking Why isn’t Jeopardy or American Idol suffering?, it’s all entertainment.
PS
That clip was great advice I think and it confirmed what I always thought. I told my girl last week that the weatherman can influence the market either way. For example when they predicted the snow storm that didn’t come I thought to myself the weatherman got everyone in Massachusetts buying extra bread,milk and renting movies. Whose to say he doesn’t own stock in Hood milk,WonderBread and Netflix.
After watching the two videos, I realized that Jim Cramer’s show is more geared towards stock brokers and people who wants to invest their money into stocks. Suze Orman’s show is more of a financial advice show to help people realize weather or not they can afford something. These two shows can excel in any economic environment because no matter how the economic environment is there is always someone out there that needs finical advise or help on finding the right stocks to invest in. Jim Cramer graduated from Harvard and is a market commentator for thestreet.com. Suze Orman on the other hand is a financial advice expert and has her CFP or Certified Financial Planner certificate.
While I was watching the Jim’s video his target market was stocks and investment and Suze’s target is financial situations. People run to this people because they can make their own decisions so they fell like they need help from people like Jim and Suze. In my opinion I don’t think we need their services because all that things they mention on the video was common sense. Their target market is to make decision for other people so if the decision they made for them was bad they could blame it on Jim and Suze or other people that are like him. They had survive this bad economy because a lot of people are suffering financial crisis and they don’t know how to make decisions.
Cramer is endorsing and betting on companies to fail and to profit off of them. The problem is hes not talking about any in particular stock to short sell, which leaves the impression that EVERYONE should. He appeals to the negative Nancy im sure. Suze is just reconfirming what people already no. She acts as a source of blame if it doesn’t work out. People are always going to want to identify with a person who seems to know what they are talking about. It helps takes away from the responsibility of failure in an unpredictable market.
Jim Cramer’s “Mad Money” is aimed toward those who would like to be more involved in the stock market, but are unable to make their own decisions. Cramer does not give any direct advice to the viewers of his show, although he gives expert advice based on how he perceives the market. The Suze Orman Show focuses more on what she would advise her viewers to do according to their financial status. Unlike Cramer, Suze Orman’s show has people on it with specific questions about their personal finances, and whether or not they should spend or not. Both of these shows are aimed towards helping people make financial decisions, but in my opinion, they are not necessary because they are decisions that can be made with common sense.
Both Jim Cramer and Suze Orman shows give financial advice. However, Cramer focuses on a market of stocks and investments, while Orman help people to know how to spend their money in a wise manner. On the other hand they both know how to get to their market, and that’s why they are successful in any economic enviroment; because there would always be people looking for advice on how to be financialy successful or simply how to use their money. Therefore, this does not mean that Jim Cramer and Suze Orman services are a neccesity.
People don’t always buy things on their own. They are subconciously pressured into it. Repetitive commercials, people being shown more happy using a specific product, and the re-enforcment of some one else saying that they should buy the product makes people want to buy. In video #2, the woman will most likely buy the swimming pool for her family because a woman of significance gave her confidence that she would do ok financiall.
I feel that both Suze and Cramer are really just giving their opinions, not providing an actual service. Cramer’s target market seems to be geared at people who are just beginning to get into the market, not those who are educated about the market. His use of sound effects is just a marketing scheme used to catch people’s eye and keep them tuned in. Suze’s target market are all those people out there who really want to buy something and need to hear someone tell them it’s ok so they can justify their purchase. None of us really need anyone else telling us what we can or cannot afford, we already know the answer. I think they both excel in any economy because people are always looking for any idea that could possibly make them money and people are always looking for a peace of mind.
now after reviewing these two videos, there are two words that come to mind. And they are the oldest words of advice when purchasing anything. BUYER BEWARE! this financial crisis seems to have spawned another industry, it seems that scaring people into buying financial advice and products has replaced good old common sense. I personally can understand the person who lost half of their life savings, or the worker who is under employed, doubting their ability to invest without a clear mind. When someone is under duress they may think someone else has the mightiest touch and are willing to risk on their advice. but, who are these people anyways? on any given morning, you can turn the TV on and find financial advice on one of many stations. You open your email and find it flooded as well. it seems to me that when you commit to these people, your right hand ought to know, what the left hand is doing. NOTHING BEATS GOOD OLD FASHION HOMEWORK! again buyer beware.
Both Cramer and Suze have similar targeted markets of which have some differences. Their services are somewhat of a necessity to some people, because they feel the need to have guidances with their money and how they spend it. Cramer’s markets is for those who need a bit of guidance in understanding the stocks and how they work. Suze’s market is for those who have a bit of understanding of money and look to her for reassurance they are spending correctly. They both excel in any economic environment, because the people are looking for the knowledge and reassurances that they can put their money into something that will not come back to bite them in behind.
After watching Cramer’s and Orman’s videos, I’ve reached the decision that we do need their services. Most people are oblivious to “markets”. They feel the need to seek professional advice to make the decisions for them. In Cramer’s videos, he seems to be targeting people who are trying to invest in stock and are a bit unsure about it. He uses different sound affects to keep the attention of his audience because some people don’t actually find this entertaining. In Orman’s video, she seems to target people who are looking to purchase something that are unsure about. She asks them about their income expenses and she then tells you whether your purchase was approved or denied. They excel in their economic enviorment because they tell you the things you NEED to hear.
After watching the short videos with both Jim Cramer and Suze Orman, I can see that they are both only offering peace and comfort within their target of people. In my opinion neither of their services should be requested. Jim seems to target the people who also question the market and infer that it is not an honest system.( making a connection to many home owners in America, who financially support themselves, and might not know anything in this area of interest) Jim also demonstrates how he could influence the market and proves just how easy it is to do so. The reason why Jim is successful during these economic times is, people don’t want to lose any more money then they already have during these economic times. People want insight on what really goes on within these markets.
Suze Orman, what a character! This lady actually tells people Yes or No on what these people want to buy. Where is the Independence? This lady’s service is absolutely not needed. James Scurlock from MSN Money, portrays her as “the personal-finance guru favors supersimple mantras—even when they’re wrong—and psychological explanations for all your money problems”. Suze’s targeted market is mostly middle and upper class Americans, who are indecisive and want reassurance. Or these people have called because they want Suze to be their Super-Ego, to tell them that their making a mistake. Suze excels because of American home owners immaturity to make sole decisions for themselves. Granted she’s made it a long way, she just has no right to tell people yes or no on what THEY would like to buy.
I believe that both of these people’s services are really needed in this society.Jim Cramer, want’s to make individuals into pro investors. He tells people all the tricks neccesary for making wise investments.Suze orman is a personal finance adviser,motivational speaker,etc. This lady tells you the honest truth on how and what you should be doing with your money.They both excel in this economy because people, dont want to take bad risk with their money,especially since times are bad.
Suze Orman And Jim Cramer are targeting two different television audiences. Cramer is talking to people who people who are interested in the stock market, where Orman is giving general financial advice. I don’t think that either of their services are a necessity to people that know about their finances. The both seem to be talking to people that do not have large knowledge of the stock market or general finances. They excel in any economic environment because their will always be people that need financial advice.