Month: November 2010

Jamie Oliver is the perfect example of a social entrepreneur.

I find that social entrepreneurs are the most admirable because firstly, they give back to the society and secondly, they fix or try to solve a social problem. In this case, Jamie Oliver hires disadvantaged young people who wants to start a new life and this restaurant, provides them with a job and a chance to start anew. However, this is not all. All the profits from his restaurant in Cornwall go to the Cornwall Foundation of Promise, established to help youngsters make their mark in the restaurant industry. Besides this restaurant, Jamie also has a registered charity foundation : The Jamie Oliver Foundation and its mission is to raise awareness of the importance eating healthily with the right nutrition and the impact it will bring about. Jamie Oliver has the passion to cook, having hosted a variety of cooking shows and the way he is able to utilize his passion and talent in an innovative way such that he is able to help the society is amazing. People like him are good role models to the society.

Credits:

The Official Website : Fifteen

BBC: Jamie’s restaurant opens its doors

The true spirit of entrepreneurship evolves from trial and error, the courage to try new things and not being afraid of adversity. It is about doing what you love, and what you strongly believe in, and sticking by it. It is about putting all your ideas into action and do the impossible. Letting your dreams take flight.

One entrepreneur that truly inspired me is Lyn Lee, owner of Awfully Chocolate. The search of the perfect chocolate cake was a great disappointment, and as a chocolate lover, she decided to create her very own chocolate cake, her definition of perfect. And what better way to turn what you love into a business, something profitable, and to be able to share with everyone. Initially, they started out small, with a small shop that only served one chocolate cake. This may seem like an unusual marketing strategy. But it is the uniqueness that make customers wonder what is so special about their cake? Their business has been growing ever since.

She also opened Everything with Fries, a restaurant inspired by the young staff. Having worked under her before, I feel that despite her success, she listens to ideas from everyone and empowers her staff which is essential in helping the company to grow.

Credits:

A recipe for success?

How Awfully Chocolate Founder went from Connoisseur to Entrepreneur

Awfullychocolate

The Gap debacle illustrated the importance of a brand name and its logo, to its consumers. GAP changed its old school logo that has been used for more than 20 years to a new, modern looking one.

However, this issue raised a whole lot of commotion on social media networks like Facebook, and forums debating on whether the new logo suited for Gap, a lot of people thought otherwise. Gap has been a household brand name for the past 2 decades and people identify with their logo. They feel that with the change in logo, the brand has lost its persona, its identity.

In the recent Comm101 class, I learnt the importance of conducting marketing research and product differentiation in order for a company to stand out from its competitors.

What Gap should have done is conduct marketing research through online portals or social media networks for virtually no cost, to see if their customers like the new logo. By failing to consult the customers before the change in logo will lose customer loyalty. In this case, the logo is key in product differentiation.

This is also illustrated in the case of Tropicana, when they adopted a different logo.

Brands should work on empowering their customers and be open to feedback from them. After all, what is a brand without its customers?

References:

Lessons to be learnt form the Gap logo debacle

Gap scraps new logo after online outcry

Shopping has never been easier with the advent of online shopping, we are just a few clicks away from spending on our favourite pair of Jimmy Choos or that exquisite Cartier watch we set our eyes on, all in the comfort of our own home. With the internet accessible by everyone worldwide, distance is just another number. Now, Burberry provides live streams of its clothing lines during the fashion week, and customers are able to order apparel even before the show had even finished. The apparel will be delivered right to your doorstep in 7 weeks, a drastic decrease from the previous 4-6 months. Isn’t it awesome?

With the internet, entrepreneurs who do not have the capital to start up a brick-and-mortar shop of their own capitalize on the vast audience of the internet. Afterall, which shopping mall could be as big as the online mall. In Singapore, young entrepreneurs as young as the age of 14 start up their own blogshops, and even start manufacturing their own apparel because the cost to start up an online shop is virtually nothing.

Using social media and the internet to advertise is increasingly being a popular option, and as fashion retailers turn their focus to online shopping, will the traditional brick-and-mortar shops cease to exist in the near future?

Credits:

High fashion learns to love selling online