This blog post is the reflection about our team assignment #3 (video) regarding our targeting company (ZARA)’s current environment summary and market mix analysis.

The purpose of the 3^rd assignment is to summarize ZARA’s current environment and market mix strategy, and critique the effectiveness of market mix strategy on ZARA’s current environment. Overall, I found it is an interesting and impressive video assignment providing me with theoretical and practical knowledge, which enables me to find drawbacks and make improvements accordingly.

Firstly, I learnt the importance of intersecting everything together after this assignment. When I went through ZARA’s current environment (assignment 1) and STP (assignment 2), I didn’t notice the connection and function of these assignments. When it comes to the 3^rd assignment, however, I realized the importance of previous assignments and the intersection between these assignments. Also, the way we made our whole project into a 7 minutes video is also impressive. I learnt the importance and role of sifting important points and combining content together.

Secondly, I learnt to coordinate with my teammates and utilize time-management and teamwork skills to accomplish assignments effectively and sufficiently. We have to overcome the time-conflict to find a suitable time-period to meet regularly. Also, we are supposed to discuss about the assignment efficiently and assign responsibilities to everybody equally. I was so surprised that we overcame difficulties and fulfill assignments excellently as a team. Furthermore, It was a lot of fun to work together with my wonderful teammates.

The improvement that I would like to make is to pay more attention to combine the content from textbook, class with our assignments. Even though we went through the whole assignment based on the content from textbook, I would like to add more theories and examples from textbooks to make our assignment more pervasive.

In conclusion, it is an excellent class and a wonderful assignment that help me make a big improvements on practical and theoretical knowledge.

      This post comments on Seth Godin’s blog about the importance of brand reputation.

Even though “Belief is more powerful than proof” is literally a very short blog, Seth Godin clearly indicated the use of proof is to have a shot at creating belief, whereas belief is more important towards companies.

I am favor of Seth Godin’s statement that Belief is more powerful than proof. In other words: perception is more important than reality. Belief is a feeling that is difficult to build and change. For every brand, it aims to build beliefs in customers’ heads and hearts the way it attempts to. McDonald positions itself to be fast and convenient, and customers believe so as long as they think of McDonald. However, it’s hard to build belief and brand it on customers’ hearts. Beliefs are created from customers’ perceptions and past experience. For new entrants, they ought to create demands for customers, prove their products’ excellence and seize the opportunities to create beliefs in customers’ hearts in term of its brand. Whenever beliefs are created, companies tend to have more probabilities to build long-term relationship with customers. Toyota satisfies and fulfills their target customers’ needs all around the world. However, the reason Toyota succeeds in North America attributes to its brand. Toyota builds a reliable image in customers’ hearts, which contributes to its success in North America.

From Seth Godin’s blog, I realize that companies create products to capture transaction, whereas brands create beliefs to seize sustainable relation. Belief, overall, is more powerful than proof.

URL:http://sethgodin.typepad.com/seths_blog/2013/11/belief-is-more-powerful-than-proof.html

http://nataliethecoach.com/2013/07/updating-your-beliefs/

The post is to make comments on Armstrong’s blog post about the importance of a focused target market.

Armstrong Fidele states that having a focused target market is the success of any business. By having a clearly defined target market means a more effective marketing strategy, and ability to quickly respond to changing customer demands. Also, He introduces Solarway, a solar power solutions company and how this company positions its target market. It says Solarway’s target market is people who have limitted or no access to power, which proves that having a clearly defined target market prior to other criteria when people decide to dive into an industry.

I am, firstly, in favour of Armstrong Fidele’s opinion regarding the importance of a focus target market. It is impossible to satisfy every customer’s every need. From suppliers’ points of view, it will definitely be costly and time-consuming to be outstanding in every criteria. Take cellphones for example. None of the companies will be able to position itself as doozers in processing speed, weight, screen and price. iPhone targets relatively higher class customers who want high speed, light weight and better screen while some companies target lower class customers who use cellphones as basic communication tools. From customers’ points of view, they will choose the companies that excel in typical criteria instead of companies with broad markets.

Also, as Armstrong said, to segment markets, can be based on values, interest and attitudes besides demographics. Different industries should base on different factors, and some companies take advantage of multi-segmentation variables to target their markets.

From Armstrong Fidele’s blog, I learnt what is focused target market and its importance to success of every company.

URL: http://www.free-power-point-templates.com/target-market-ppt/

The pressure from fierce market competition increases dramatically, as new entrants enter the markets and threaten the existing firms. As a result, how to operate the production chains well is not the only element that needs to be taken into consideration by firms anymore. Strategic marketing approaches are frequently adopted into marketing by firms to improve their profiles. Hunger Marketing is a new strategy been used successfully in business. Basically, Hunger marketing means goods/services suppliers’ intentional reduction of the productivity, in order to maintain the relationship between customers and producers by creating supplies’ shortages. Being in short supply, firms keep their high selling prices and profit ratios.

Apple was merely a successful firm, however, it started to be well-known company and dominated the market worldwide after iPhone 4/4S were released. We have to recognize Steve Job’s devoting to Apple, but we cannot avoid Hunger Marketing strategy’s contributions to Apple’s miracle. When iPhone 4/4S were released, customers were surprised by these unprecedented Smart phones. The demands for iPhone increase dramatically in a short period; however, Apple didn’t urge to satisfy all of the customers’ demands. Apple lowered the supplies to make the turnover much longer, the shortage in supplies made customers even crazier about the brand new iPhone. At the time Apple became the richest company in the world, it also built a perfect brand images among customers.

However, Hunger Marketing strategy is a double-edged sword. Even though Apple won global market share by adopting this strategy, excessive “hunger” may run out of patience from customers and thus, loses its market share to competitors. The question is how firm ought to implement the Hunger Marketing appropriately?

URL: noim_not_hungry_tshirt-p235188431304427514qr2x_400.jpg

http://www.prnewswire.com/news-releases/analysis-how-to-do-hunger-marketing-216574871.html

“All girls love shopping and gossiping”, it’s definitely true that girls love gossiping, especially telling in gossip about handsome and ideal boys. How about shopping? Is the stereotype telling the truth? Well, we couldn’t lie to ourselves in front the reality; women account for 85% of all consumer purchase including everything from furniture to autos. The research also indicates women are passionate about shopping once every 5 seconds, their obsession with shopping are even deeper than passion in their husbands.

Why do women enjoy shopping so much? What comes first is their roles. Women buy not only for themselves but also for their families and business. It says that “A joint decision is impacted four times more by a women than by the man because she leads four of the five stages of the decision making process, with the fifth, actually making the purchase, being made jointly.” Women have responsibilities and control on stages of purchasing. Also, Men are usually more calm and dispassionate while they go shopping. They wouldn’t take action until find the best choices.

Marketers start to pay more attention to women since women and men swap roles on consumption. The way they attract more female consumers, in my mind, firstly ought to demonstrate attention to visual design. Barletta, a widely recognized women study expert, says that women have an even greater sensitivity to design nuances than men. Better nuances will be able to catch women’s eyes easier. In brief, Women consumption is still a highly demanded, high prospect and immature markets. How successfully marketers can attract women’s eyes becomes the key factor to seize this typical opportunity.

URL:  http://socialmediatoday.com/ekaterina/1708156/marketing-women-how-get-it-right

https://www.youtube.com/watch?v=r2zpHvaLck8

http://www.web-design-for-women.com/marketing-to-women.html

Picture:  http://static4.businessinsider.com/image/522e1b486bb3f7e0328e5eab-1200-924/young-women-girls-shopping-8.jpg

    Interesting Video ( Crazy women shopping)

“Impossible is nothing”, “You can”, “Think different”, etc. I believe the majority of us have ever heard of these famous advertising slogans more or less. Indeed, It is the reality that Advertising is all pervasive in daily life. However, at the moment we are dazzled by advertisements, an increasing number of companies are designing creative advertisements to attract customers’ eyes. It’s inevitable to have competitions among different industries, and advertisement will be used as a power tool to crush competitors. That is sometimes irritating and even offensive, which would result in ethical problem in marketing.

Google V.S. Microsoft, Apple V.S. Samsung, Nike V.S. Adidas, these are leading companies and major competitors from different fields. We would commonly see these companies belittle opponent in order to raise their own reputation. However, it becomes more sensitive when it comes to advertisement. Take Pepsi and Coke Cola for example. These two well-known soft-drink companies are competing and seizing the market worldwide. They are very anxious to kick each other out of the market. Therefore, we can see Coca-Cola design vicious and false advertising to attack Pepsi (Glovin & Stanford, 2009); we can find banned Pepsi commercial (Bellaboteborg, 2006) due to its discrimination. These advertisements might be entertaining and informative, and the news might boost the exposure rates, it will bring harmful consequences to both companies and customers.

In my opinion, advertising is supposed to be designed to make customers understand, persuade them to think and then act on their ads, then this will lead to positive results and the ad may not be called unethical. As a result, ads satisfy customers and bring benefits to companies.

watch?v=LM9rA4LbOMc&feature=player_detailpage

Picture:  https://blogs.ubc.ca/sydneystoneman/2010/09/23/coke-vs-pepsi-the-great-cola-wars/

URL: https://www.youtube.com/watch?v=LM9rA4LbOMc

https://www.youtube.com/watch?v=KObDkEBwuTc

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aYXGQIH6Hisk

Volvo is one of the biggest and most well known automobile manufactures in the world. It is especially famous for its high quality and function. Geely is a small private enterprise located in ZheJiang province in China. However, such a small enterprise purchased 100% share of Volvo automobile from Ford in 2010. It was one of the most important moments of Chinese automobile industry.

As Japan has Toyota, Germany has BWM and Benz, U.S has GM, China’s automobile industry is able to be lead to the world by Volvo. China then can expand its market worldwide, which is capable of being more successful in the future strategically. Also, both Volvo and Geely will benefit more from attracting more consumers domestically since it is a nominally a Chinese brand. Chinese consumers of course will be willing to buy a domestic brand car rather than cars from other country. It is a chance to Geely, as well as to Volvo. Geely is able to expand its market through Volve’s international influence and advanced technology, while Volvo can convert its loss to profits through China’s big market. The big problem is that how are they going to corporate well with each other so that maximized the profits.

Picture: http://www.themotorreport.com.au/50081/ford-and-geely-announce-volvo-sale

Website：http://wenku.baidu.com/view/90b2e3be960590c69ec376a7.html

Social entrepreneurship is the recognition of a social problem and the uses of entrepreneurship principle to organize, create and manage a social adventure to achieve a desired social change. Lots of social enterprises are set up to help people all around the world in various aspects. One Acre Fund is one of the Forbes top 30 social enterprises, which is established by Andrew Youn. The One Acre Fund’s headquarter is located in Bungoma, Kenya. Basically, it makes low-interest loans and provides agricultural education to East African farmers so that they know how to farm more efficiently.

As we all know, Africa is facing severe food crisis. People in Africa usually spend the majority of their money on food. Even so, lots of family is not able to feed every single member, which results in the death of children. Therefore, Andrew Youn thought about setting up a social enterprise to help these people in Africa. Basically, the One Acre Fund imparts African more efficient agricultural education to help them grow more. Andrew Youn provides corn insurance and promises that they will double their profits in one season. In 2011, they’ve grown 75,000 families, and they dream of growing more than 130,000 in the future. This is an excellent organization that helps people around the world get rid of starvation. The question is how are they going to make the organization more sustainable?

URL: http://www.oneacrefund.org

Picture:https://twitter.com/OneAcreFund

I read Vanessa Song’s Blog and her opinion about Urthecast. I found it was attractive. Therefore, I wrote comments on Urthecast according to her opinion and my own thoughts.

“By developing the first high-definition streaming video platform of Earth, UrtheCast plans to change the way we view the world.”According to the UrtheCast, it providing the launch installation and maintenance of the cameras. Basically, UrtheCast will benefit from Earth observation data sales, media content sales, application platform sales, as well as web advertising

It is used to record live video directly from space has never been done before. Consumers are able to see the most part of the world by live video and high-resolution pictures through these two cameras from the space.

UrtheCast is approximately getting totally 100-120 million dollars per year from the variety of aspects. And it is a market filled with opportunities since the demand for UrtheCast getting higher. The main problem they are facing is that they have to raise enough money by persuading investors to put money on them. But they cannot make any money until 2013, which will definitely make their life become very tough. It’s going to be like “making money or being bankrupt” next year. How are they going to raise enough funds? This is the biggest problem they have to deal with before they go to “strike gold”.

Picture: http://www.techshout.com/internet/2012/26/urthecast-plans-to-broadcast-the-earth-in-hd/

Blog: http://www.urthecast.com

UrtheCast: “View the Earth in a New Way”

I was reading Liu, Rae’s blog. I found it was pretty interesting. Thus, I would like to make comments on her blog and Energyaware based on what I learnt.

Energyaware is a company that focuses on selling software, hardware products. One of the products that they are producing is the power tab, which is used to measure how much electricity you are using at home and how much it costs you. Basically, it tells how much electricity you are using for each electrical equipment, and how much electricity you are wasting even if you switch all the equipment. In which case, it can actually save a lot of money for consumers.

Energy aware technology in-home display is a new (oligopoly) market, which means it does not have too many firms yet. The only main competitor of Energyaware is a company called Onzo. It is not really competitive to expand market to the highly demanded countries (the countries with high electricity fee). However, it is said that consumers could not buy the power tab from any retail stores or online, which would push some consumers away. I would recommend them to provide a way for consumers to buy the products directly online or set up retail stores if they have enough fund. Energyaware is aim at developing to a million dollar company in four years, which is reasonable if they can expand the market well. How are they going to develop their advantage and avoid their disadvantage? This is the main problem they will be facing in the next 4 years.

url:http://www.energy-aware.com/our-customers/

where are you headed after Graduation–Thoughts after hearing Janice Cheam