The Social Network and Consumer Behavior

Anyone who has seen the movie The Social Network, knows how Facebook came about. Based on Consumer Behavior, Facebook was developed purely for the consumer. 

When consumers wanted a social network that they could use to connect to other college students, Facebook came about to fulfill those needs. Facebook has done a great job developing and innovating their site to fit the needs of their consumers. Originally developed for college kids, nowadays, every one from grandma to mom and dad have a Facebook page to stay connected to family and friends around the globe 

I've attached an article that I found interesting, a small local artist is one of the main share holders of Facebook now, because of his simple talent that had nothing to do with social media... yet Facebook has set him on a new path in life. 


San Jose-based graffiti artist David Choe, who painted graffiti murals for Facebook’s headquarters in Palo Alto, California, is now worth $200 Million after the social networking giant went public on Wednesday. 

In 2005, Choe who first thought of Facebook as “ridiculous and pointless” was approached by Mark Zuckerberg to paint graffiti on the walls of Facebook’s first office. 

Choe was however, paid in shares instead of cash and those shares are now worth $200 million. 

According to Choe, “they cut the walls out of all [his] paintings and sent them to all the Facebook offices around the world.” 

Expressing his excitement, Choe, who also doodled on Zuckerberg’s laptop, wrote on his blog: 

"Have you had the dream where you ARE this guy?!? And then some kind of happy accident happens, and as you're in the middle of this glorious car crash you stop to realize that there is actually no such thing as an accident, and no chance encounters, and that everything has a direct purpose? [...] then I get up and see my picture on the cover of the New York Times and I find out that I'm the most highest paid decorator alive". 

Reflection

Predictably Irrational explains how people make irrational decisions and in their minds they think they are good decisions. 

The idea that consumer’s minds and decisions are influenced by external factors leads us to believe that our personal taste doesn’t actually have as much influence over our decisions as the taste of others, and vice versa; I guess you could call this “Mob mentality.” 

Brian Wansink’s experiments show how people make decisions and how their tastes are changed by something as insignificant as the price of the bottle or the label. Almost every time people chose the more expensive bottle or the better label, despite the actual wine within the bottle.

Ethics play a huge part in the marketing world. It is easy as marketers to rationalize a thought or idea for the consumer, but it is important to make sure that it doesn’t create an unethical outcome. Social responsibility is a key part in a businesses success.

Walk In Someone's Shoes

Today I noticed something interesting about our classroom; the only thing we can see when people walk by our classroom is their feet. 

The shoes people wear and the way people walk can tell you a lot about them.  Some people walk by dragging their feet, some walk with a purpose, some wear slippers, other running shoes, and some UGGS. This reflects not only how motivated they are, but also how their day is going and how life is in general. It almost be as informative if you saw their face! 

This is a huge part of consumer behavior! By looking at a person's interested and tastes in connection with their attitudes and characteristics, you can learn how to market a product or service to them. 

Each person that walked by today, I took note of the first things that came to mind when I saw their shoes.  

• Converse and yoga pants 
• uggs and leggings
• hiking boots and high-water khakis

... think about what came to mind about the consumer with each of those visuals. 

Don't burst my bubble

We all look at graduation as the gateway to freedom... the light at the end of the tunnel, a way out. When in reality... its actually just a doorway into an even longer tunnel, that we have a lot less control of.
Today in class we used photos to analyze our own personal feelings and thoughts about our life after college. I had one photo that really stood out.
A little boy looking eagerly ip to a bubble that he made. It almost looked like he was waiting for it to become more, to get bigger... when in reality, the chances of it popping are pretty high.

To me, that symbolized our life after school. We can look at life from a optimistic point of view, in which we watch it grow, and we breath life into it; it can be beautiful and full of potential... but depending on what we do and how we treat it, determines how big it gets and how long it survives.

the naiive look on the boys face was beautiful to me. to have so much hope and want something to work out so bad that it just makes your face glow... thats what we all look like as young prospects looking to head out into the nitty gritty world of business. We are full of potential and ready to be the best we can. We just can't let someone or something burst our bubble.

Unprofessional Professionals

Marketing is everywhere, not only is advertising and promotion a huge market used to sell products, but its also a huge market for people who are wanting to work in the world of marketing and retail.

It seems like nowadays, everyone has their own "business." Whether its knitting silly little hats to building furniture, to developing a product or idea that is an innovation; it is super easy for someone to get into the business world. In years past it was necessary for someone to hire professionals to help them develop their business and brand, but because of recent innovations in the design world as well as technology, anyone can create their own brand with a click of their mouse.

The hardest part for me is seeing people who aren't actually professionals trying to give professional opinions. anyone can deem themselves a professional, and now thanks to the internet, its easy for them to tell people about  skills even though they don't have the experience to back them up.

Its awesome that those people are trying to make a name for themselves in the business world, but they also need to keep in mind that they need experience and knowledge in order to actually maintain a successful business. BUILDING the Brand is one of the most important steps, not just telling people about what you want to do/are doing. There is a lot more that goes into it than just trying to offer expertise to people who are seeking a quality opinion.

Irrational Decisions Lead to Rational Outcomes

When discussing whether or not a persons decisions are rational or irrational, I couldn't help but think about my Dad.

In 2008, my dad; Buck Brannaman, received an honorary Doctorate from Montana State University in Equine Science, an honor reserved for those who excel in the world long after their college life has ended. Yet, unlike most of the candidates; my dad was a college drop out.

What is a rational decision? what is an irrational decision? the difference between the two entirely depends on the individual and whatever God has planned for them in the future. The saying "Hind site is 20/20" couldn't be more true.

My dad was a 4.0 student in the College of Business at MSU majoring in Accounting, even though he knew he would never be a desk jockey punching numbers into an adding machine all day, he still set the goal for himself. He put himself through college, riding 14 colts (young horses) a day and struggling to pay for school let alone a place to live. His horse training business began to boom and the young cowboy from gallatin gateway, began to make a name for himself. He attended a Ray Hunt Clinic (who became his longtime mentor and father figure) which set him on a path that he couldn't turn back around on. He pursued his education in the form of his dreams and talents.

His last semester, his advisor (we won't be mentioning any names) invited him into his office and told him in a round about way; you will never be an accountant... pursue your talents.

Lucky for my dad, He listened.

He dumped his books in the trash can outside Reid hall. and never came back.

Now the question is; Was his decision rational?
In hindsite, yes.
At the time, I would have advised against it. But that doesn't change the end result, just because it was the best decision for him at the time, doesn't mean that for anyone else it would have worked out.  It all depends on who? what? when? and why? and in the end, you can't control it anyways.

30 years later; me, his daughter was starting my college career in the same spot that my dad ended his. Looking up at Reid Hall, I looked at dad and jokingly said; "Maybe i'll just drop out and get an honorary one like you..."

Lets just say that I don't think he saw the humor in it.