Categories
Uncategorized

Saturated Market – Fashion industry

So …..the Japanese domestic fashion market is currently valued $$$90,000,000,000$$$ and it is said among many japanese marketing professionals that it had the potential to grow to 120 billion at its peak, although it never did reach such value.

From reading up on articles and watching the news, it seems that factor that is inhibiting the japanese domestic fashion market to grow to its full potential is that there are many foreign brands being imported and people are buying into their marketing strategies.

In my personal opinion, the vast majority of the domestic brands offer higher quality products at a more reasonable price in comparison to foreign brands which are marketed very well but have low quality and are more pricy considering the quality of their products.

There are probably many ways to resolve this problem that the japanese fashion market. One of the most obvious and easy ways to achieve this is to copy the strategies that the major foreign fashion brands are utilizing such as Hollister who sells the image of  youth and sex along with their products.

I am not in favor of this strategy since this would damage the high quality and unique design brand image of japanese apparel thus it would be a major market repositioning project for the entire industry. But…..the perception of a brand image may differ in different parts of the world thus this strategy may be worthwhile utilizing if the target market pool is likely be accepting and open about the repositioning.

In my opinion, the japanese fashion industry should look towards selling towards the rapidly emerging chinese consumer pool. Especially because the internet user pool in chinese is among the biggest in the world, e-commerce may be an effective way to penetrate into their market.

http://4.bp.blogspot.com/_ue1EsZamTHU/SxI2KEc_wgI/AAAAAAAACFk/aKcPrPaQd4A/s1600/playz2.jpg
Categories
Uncategorized

The Winner is a Loser and Vise Versa

An comment blog post on “susan’s blog” (https://blogs.ubc.ca/susanz/), “really a good offer?”

In summary, the blog post by susan, “really a good offer” was about how a marketer should be the winner but in order to sell, they should make it seem as if they are the losers; this implies that both the buyers and the losers can win in the market whilst having market efficiency.

Such understanding of the implication implication is an unique way to perceive the real world market outcome; marketing is often mentioned as a over simplified and qualitative view of the market, but this concept of how the marketers are the winners that appears to be losers, puts to light to the fact that marketing is quite a pragmatic analysis of the real world market and convinced me that marketing perception of the world is at time more accurate than finance, accounting and economical analysis of the market outcomes.

I do not necessarily agree with this idea but it is intriguing since the whole marketing process is looked at as if it was a competition because this relates marketing to other disciplines of commerce such as managerial economics and managerial accounting.

Without thinking too much, people may think that a purchase of a product is either a win lose outcome or an equal base outcome and it is true to some extent. Take managerial economics;  there is monopoly/oligopoly where the buyer loses since there is more power on the seller side due to fact that there is only one or there are a very limited number of companies offering the service and or the product. In the case of a perfect competition, the outcome should be on a equal stand for both the buyer and the seller, since the actual price equals actual demand for the last person to purchase the service or product.

The quantitative discipline is obviously more focused on the market outcome. Marketing, however, takes into consideration of the perception of the outcome of the consumers and the sellers, in other words, utility of the people in the market, it opens up a completely additional new factor for the outcome situation that is not on the financial statement.

Some may argue that it is impractical since utility has little relevance on the performance on the financial performance of the company. I would agree to a certain extent. If you think outside the box, however, the performance of the stock is up to the “perception” of the shareholders and that determines the stock price thus the  value of equity and “weighted average cost of capital” of the company.

Considering the above discussion, it makes me think that businesses should utilize marketing more often in the process of quantitatively evaluating companies, although it may seem more qualitative by the nature of the subject field.

Categories
Uncategorized

McDonalds’ marketing strategy backfires?

This blog post will be a commentary on “Rich’s Marketing Blog“<http://www.richsmarketingblog.com/mcdonalds-twitter-promotion-of-new-mcrib-backfires-badly/social-media/>; specifically on the blog post “McDonalds Twitter promotion of new McRib backfires badly”

Twitter is a major marketing channel for many corporations nowadays. But it seems that a considerable amount of risk is also incurred if the project is undertaken. According to “Rich’s Marketing Blog” the mcdonalds’ marketing attempt to use twitter was a catastrophic accident for the corporation.

But….. considering the size impact that twitter had on the consumers, if used appropriately, twitter may become an extremely low financial cost, convenient, timely, and last but  not least powerful marketing tool.

So what kind of ways could or should you use twitter and what are the kind of impacts that it could have? In my opinion, there is too much of a risk to open up to the vast public to retweet and respond to tweets of an entire company. Thus it may be a good idea to limit the profile and tweets to certain accounts on twitter. There are several key advantages to limiting profile and sharing tweets among the important personnel is that it helps in managing the risk of consumers spreading the “bad mouth”. Also, it can be used as a way to stay in touch with important personalities within the top management and the important business partners as well as prospective business partners; partners and associated business executives will be able to grasp a better idea and might even retweet the corporate tweets to advertise the company; tweets made by important corporate executives are much more convincing than the company selling itself through its own tweets.

Personally, I think that Starbucks has done a good job at branding itself and utilizing twitter as a marketing tool. They have used it as a channel of communication to gather ideas for their new products as well as update their progress with developing and incorporating the ideas that they have gathered. This not only makes the process of product brainstorming more effective and efficient but it also makes the consumers more involved in the whole process of corporate operation thus created value and loyalty over time.

Categories
Uncategorized

Commenting on willdorr “Subliminal Marketing Author”

This blog post will reflect and elaborate the issues and ideas that William Dorr raised in his Marketing blog post “Subliminal Marketing Author”: https://blogs.ubc.ca/willdorr/.

Surprisingly, I have thought about the ethics of subliminal marketing over the past few years after i developed an interest for the marketing industry. Many advertisers would probably say it is a strategic method in order to sell their product and their brand.

Perhaps subliminal marketing may sound slightly sneaky and dishonest. The level of subliminal effect most likely differ on the product and how it is delivered. I think that there are acceptable level of subliminal marketing and unacceptable levels of subliminal marketing. And by varied acceptability of subliminal marketing by different levels, I meant the intentions behind the marketing strategy determines the level of a specific subliminal effects either ethical or unethical.

Say that there was an advertisement about a chocolate bar. If it subliminally gives the impression that it has special effects that it does not have and the marketers are fully aware of this, this would be unethical.

On the other hand, if under a limited time frame, markers were asked to some how deliver all of the wonderful elements and features of a product and that marketers could not use explicit methods in delivering the benefits that come along with the product, then it is ethical, in my opinion, to use subliminal to deliver sufficient information to the consumers so they can make a purchasing decision.

Categories
Uncategorized

Are Adds with Sexual Implications effective?

So, first I would like you guys to know that Im a sweet tooth. I could not survive a week without Ice cream. I could probably have it 3 times a day (even though I don’t considering how unhealthy it would be to actually have it 3 times a day).

Having said that, I was browsing on youtube and searching for ice cream adds and I happened to come across this particular ice cream add:

Apparently this add is an advertisement of an ice cream created by a company by the name of Migros, which is a company running many branches of supermarkets.

This particular advertisement caught my attention since it had a significant lasting effective. The degree to which the advertisement effected me could be explained by the fact that I, a big sweet tooth, did not want to have ice cream for over a week after watching this commercial. To be honest, I was quite impressed at how much an advertisement under 40 seconds could have such a durable effect.

As you may have noticed through watching the advertisement, this commercial has sexual implications. I am not aware about how successful this advertisement was in terms of expanding the sales of the ice cream. I, however, think that the company should not have used sexual implications to advertise this product. There are many advertisements out there with sexual implications and I do admit that sometimes it catches the attention of the audience effectively. In this particular case, however, the product that is being advertised is a food product. Under common sense, I think that people do not like to bring up sexual topics when eating.

Perhaps the reason why this commercial came across as such a surprise to me is because I come from Japan where the law is strict about broadcasting of material with sexual implications. For example, I have never seen any add advertising condoms in Japan. Even with the consideration of my background, I think that this company should have been more aware of the context in which they use sexual implications to promote the food product.

Categories
Uncategorized

1st Marketing blog post

So, What is marketing to me? Well, since I read the text book, I have a general idea of what it is now. Since it is my first post, I will like to begin by writing about what marketing meant to me before I hit the books.

So what on earth is marketing to me?

Well, I would have responded as follows:  Marketing is (1) A beginning to a new idea, product, concept to advertise (2) setting price to a product by evaluating the value of the product/service to the customers (3) planning how to make the product or service easily accessible to the consumers (4) evaluation of the whole plan through collection of data e.g. surveys

Now…. I have lived in quite a few countries, including the states, Japan, Australia, Britain, and one thing that I have noticed is that the way in which products and services are marketed very differenty; most likely because the cultures, lifestyles and core values of the people differ in each country. In addition to sharing personal views and observation of marketing and its applications,  I hope to take advantage of my background and write about marketing in countries outside of canada and perhaps also discuss about the differences and similarities of the different marketing approaches in different areas of the world.

Spam prevention powered by Akismet