i! Reflection !i

If the marketing textbook was the hardware, the marketing assignment would be the software. The course was an adequate combination of learning the concepts and then putting them into practical use upon research and analysis.

The Marketing Assignment taught me many things, here are just a few:

1. No team collaboration, no consistent assignment outcome.

Communication was very important in a group setting, even if it meant a nod or an agreement of some sort. In addition, if tasks were divided right from the beginning, the end work will not be consistent and there might be overlaps. Therefore it was important to have everyone’s input on the finalized copy of the assignments.

2. Everyone has something special to contribute.

A creative idea, video making skills, organization skills, written communication skills…Over the term, I had the chance to discover something special about each one of my team members and I find this experience to be very valuable.

3. It is always nice to finish the assignment one day ahead.

Procrastinating is not the solution to a group project with all the other things going on. We learned this the hard way but we quickly adjusted our speed and was much more efficient and stress free afterwards.

4. I will be able to talk on and on about Air Canada, and the company will continue to be on my watch.

This assignment required a lot of researching and it eventually brought out my interest in Airlines. Through research, I found many interesting facts about Air Canada that I would have never come in contact otherwise.

Accounting, Finance, GBM, TLog… My biggest getaway from this assignment is that no matter any field we specialize in, Marketing skills (communication, persuasion, collaboration, etc) will combine with your other skills to make how you are professionally. Future marketing courses are definitely in my consideration. Thank you Tamar for a great class!

psychology & branding

Came across an interesting blog on Branding Strategy Insider where the author commented on the effect of the human unconscious contributing to human behaviour drivers.

I find this blog particularly intriguing because it is true and happens all the time around us. If it was 30 degrees outside and I came across a McFlurry advertisement, it would be more than likely that I will have one in my hands sooner or later. In fact, any refreshment advertisement will look appealing.

Like the author said, “Successful brands utilize symbolism, the personification of the archetype, to tap into the human emotions that lay buried deep within the collective unconscious and evoke an associated behaviour.” We all can name a few brands that are well-known by practically everyone. According to the article, there is a reason why we can name them immediately without running it through our heads. Their archetype, their original message to consumers, was well delivered and we perceive them as the brand to go after for a specific product or service.

Like the website’s name, this blog is created by various “guest authors” and they each share their insight on how branding is related to various fields. It is a good website to occasionally visit and see the concepts learned demonstrated through actual examples.

First Impression

In any setting, let it by a job interview, a blind date, a dinner conference, or even passing by in a crowd of people, the first impression that you make to others is very important because it will set up in the other person’s eyes of what kind of person you are. Of coarse, companies are also aware of this phenomenon and they need advertisements that are memorable and stays in the consumers’ mind.

Wendy’s Blog on “Three Little Pigs” criticized the advertisement of The Guardian Newspaper and I would like to put my opinion here as well. Not only did the advertisement effectively communicated its efficiency and vast coverage, it also overthrown “The Three Little Pig” story’s impression in my mind. In this advertisement, the brave and quick-witted little pigs who got rid of the big bad wolf turned into murderers that wanted to escape the huge mortgage payments.

Like Wendy mentioned, “Starting from the wolf’s murder, the story creatively linked to issues such as homeowner’s rights, insurance fraud and mortgages, demonstrating the power of media and technology.” After watching this advertisement, viewers would have the urge to actually go on the website and see what other news are there. It effectively portrayed what people look for in a news article, which is the “undercover story”, or “what really happened?”

When fairytale was given a reality check, there was no happily ever after.

“Growth” stage for smartphones in PLC

Within the next 24 hours, the hottest buzz around would be about “Samsung Galaxy SIV”. Less than a month ago, it was about “Blackberry Z10”. Then, most likely in the fall of this year, perhaps the “iPhone 5s/6” will take over. Technologies are improving fast, the demand for smartphones are increasing more than ever, all these suggest that the smartphone industry is still on the rise.

“Samsung became the smartphone leader worldwide more than a year ago, according to IDC” This phenomenon came relatively fast considering the smartphone industry. Two years ago, most people around me were using, or wanting, an iPhone. Now, the Samsung users are starting to surface. I think what brought Samsung to its current position cannot be separated from its marketing strategies and tactics.

Unlike Apple whose advertisements are focused on cleanliness and its features, Samsung is focused on how these features operate, especially when celebrities are holding them. From British football players to korean singers, Samsung recognized the power of fans going after what their idols uses.

The second point that I would like to make is Samsung’s pricing strategy. Apple’s iPhones use metal material, while Samsung’s Galaxys’ are plastic. Logically, Samsung should price their smartphones cheaper. Yet, on top of a less expensive price, Samsung did a great job of differentiating, which is a strategy for prestigious pricing. Their new products come out with innovative and interesting features. The balance of pricing and differentiating puts Samsung as the strongest competitor against Apple.

Wonder how the “eye scrolling” technology works..

“It’s not working” – John Izzo

Dr.John Izzo is “a leading business strategy expert, a best-selling author, a community leader, and an avid conservationist.”And if you visit his website, you would discover that he is much more than that.

Dr. John Izzo recently spoke at the TEDxVancouver conference on the topic of “The Defining Moment for a Generation-In-Waiting.” It was an interesting video to watch and the comments below wrote “motivating”, “inspiring”, “captivating” and many other complimentary responses. It then occurred to me to think why would someone become a social influence, to be admired by others.

For one, I think it is the “experience”. It is not until you have experienced something can you talk about it persuasively. It could be something that others also experienced, it could be something that others does not wish to experience, or it could be something others desire to experience. One occasion or another, experience provide things that books just can not substitute for.

Secondly, I think it is the words that he used to engage with people. Using “us”, “we”, to make the audience feel that they are in the same situation, using words such as “pride” and “our generation” to make the audience bring up a sense of belonging and collaboration.

Lastly, the strong statistics that he brought out at the beginning of this video present to the audience the hard facts that support his argument.

This video gave me the urge to google him and find out more about him. I think being able to persuade others through talking is an accumulated skill that is very valuable to possess. Find out more of the videos from the TEDxVancouver conference here.

It’s not here yet, but it’s available – blackberry Z10

The talk of the week is all about Research In Motion (RIM), or their new official name, BlackBerry. The new BlackBerry Z10 has not been yet released but it is already making its appearance on ebay. This new technology has completely abandoned its signature keyboard and switched to touch screen to compete with other smartphones on the market.

Ebay BlackBerry Z10

Where there’s popularity, there is always fans, and that goes for the people who can wait hours even days for new gadgets in front of retailer stores. Some avid BlackBerry fans cannot bare the waiting queue and started bidding for the Z10 online for more than $3000.00; even when they know that it is expected to sell for $150.00 in Canada with a three-year contract, and Koodo is selling it contract-free for $550.00.

The value that consumers place on a product or service is significant. The higher they value, the more they are willing to spend on it. Whether it being “I want to be the first to have it” or “I’m getting it because it is a BlackBerry”. BlackBerry also fully understands the value-based era and Z10’s selling price is more than double the price of a typical BlackBerry Curve. I would say that the launch of Z10 in a market that is hot for touchscreen smartphones is a bold move because it is moving away from what is it known for, its keyboards, to what other brands are selling. It shows the consumers that BlackBerry are just as capable as any other cellphone company. On the other hand, it also blurs the image of a typical BlackBerry in consumers’ minds.

Post inspiration is here

Research Integrity

I came across a research titled “Ethical Problems of Marketing Researchers” published on the Journal of Marketing Research by the American Marketing Association. One of the questions that the researchers posed to 4282 marketing practitioners was “Would you please briefly describe the job situation that poses the most difficult ethical or moral problem for you?” Out of the 1076 usable responses, 33% nominated “Research Integrity”, in other words, one third of the sampled marketing practitioners had difficulty presenting the truth.

What research integrity suggests is that market researchers have the ethical conflict of finding the balance between satisfying what its company wants while fulfilling the responsibilities to a client outside the company. Behaviours often included falsifying figures, altering research results, misusing statistics, and many more.

(Google Image)

When a manager of a firm comes up with a proposal, empirical data and persuading numbers are needed to back it up. It becomes the marketing personnels’ duty to provide those data and numbers. This would be a breeze if market research matched that proposed by the manager (which I believe what a worthy manager would propose), but otherwise, it would be a dilemma storming in. “Should I comply my numbers with the manager or find another job?”

As an example from the research, one respondent reported, “We try to bury the mistake and concentrate on the valid parts of the study in those results.” There is nothing wrong with focusing on the valid parts, but I think burying the mistakes would results in bigger issues in the long run. With all being said, the marketing personnel could provide the data and advice the manager that withheld information could pose problems in the future, or they could report to the top management team and notify them of the setbacks of the proposal. I would prefer the latter, and perhaps the top management team could consider the alternative of hiring an external research company.

The details of this article is very interesting and worth further investigation. The research could be found here.

Apple Inc: Love it, Hate it

After reading Linda Wang’s Blog, I wanted to share a little opinion as well.

Apple is an exceptionally successful enterprise, being unique and innovative. Its products are simple yet fashionable, complexed yet easy to use. The differentiation of Apple’s products from other competitors allowed it to become the fastest growing enterprise of the century. I also agree with Linda’s opinion saying that “Apple Inc is high risk because if Apple does not keep up with technological advances, Apple can easily fall behind its competitors.”

After Apple has already established a symbol of “unique and innovative”, it would be disappointing if they are not kept up with introducing the new generation every year, say the iPhone 7 in 2015. This could allow their value to diminish amongst customers.

Also, despite the new features added on to its products every year. It could frustrate many of us wondering “Why couldn’t the camera be added to last year’s nano?” or “Why couldn’t the recording feature be added to the camera if they use the same lenses?”

Aside form these factors, Apple continues to be a popular item among the public, which is proven by 4 million Iphone4s sales within 3 days, as mentioned in Linda’s Blog.

Harmonized Tax…?

After reading Jennifer Wu’s blog on “HST Referendum Cost 8 Million Dollars”, I realized that there are many contradictions that leads to the conclusion of it being ironic to call the recently imposed tax “harmonized”.

It was mentioned in her blog that “out of the 3.96 million voting packages mailed out, only 1.65 million was returned, with the majority against the HST”. Not only are the public now opposing the HST, they’ve been opposing the tax right after it was voted through the government! It is ironic how the elected representative were supposed to make decisions on behalf of us citizens, yet ignores the opposing voices when making decisions.

Also, the comic that she added in the blog was very humorous and added interest towards reading the article. I thought the comic was being very sarcastic about how the HST came into existence. Perhaps the comic suggested the idea that the government jumped to conclusion without comprehensive negotiation and consideration.

The tax is also not suited for the word “Harmonized” in a sense that there was added cost to the implementation of the HST as well as its repeal in the near future. Therefore, I agree with Jennifer’s word “anarchy” rather than “harmonized”.

Porter’s Five Forces – Zara

Rivalry:
As of today, there are not many fast fashion shops like Zara around . This uniqueness allows Zara to profit from the public without having to spending large sums on advertisement in order to gain market share.

Threat of New Entry:
Uniqueness and profitability attracts potential individuals with investment to enter the market. Though still, it would be pretty difficult to gather all the workforce needed in a short period of time. It might be more easier to entry if individuals wanting to enter this market had sufficient time to prepare themselves.

Supplier Power:
Zara, or any other fashion stores, would have low supplier power due to the reason that their goal is to attract every potential consumer to buy their merchandises.

Threat of Substitute:
The fashion industry is very unpredictable with many competitors all wanting to project the next big trend. Though Zara still distinct from others by the constant innovative and creative designs of most up-to-date fashion.

Buyer Power:
It lies in the hands of consumers of what they like and purchase, regardless of the brand. Though there are still some individuals who have “loyalty” towards Zara and does not mind the long line ups.