David Yu wrote a blog post, “Hair Washing Robots Cause Unsatisfied Customer.” Although the thought of a robot washing my hair is a little unusual, I disagree with David Yu when he says hair washing robots could cause an unsatisfied customer. The success of the product would be by the way the company appeals to a customer. For most technology that has ever come out, such as microwaves and computers, there has been resistance because people are not familiar with the product. However, if going to a hair salon to get your hair washed by a robot is the next new fad, then people may be interested. Therefore, marketing would be an important tactic to increase the robot’s popularity.  David mentioned some concerns that robots would have less quality service and get rid of jobs.  Although I am aware of the faults, quality could be resolved by having a few employees to “assess” someone’s hair and program the robot to preform a certain level of cleanliness. As for jobs, hair salons would still need people to manage the robots and advertise the technology to provide a satisfying customer experience. Overall, the hair washing robot may be a worthwhile investment.

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Customer service is key to the success of a business. Nonetheless, as noted In Nadia Gunderson’s blog, companies such as Wal-Mart do not have customer service as a priority. Customers go to Wal-mart for their low prices. In addition, she pointed out that Zappos service is the opposite because it needs to maintain customer loyalty. Customer service is essential for Zappos. Zappos is revolutionizing customer service. When people buy Zappos shoes they do not go to a conventional store where they are attended by a sales person. As a result, the approach to customer service is changing to reflect consumer needs. Customer service creates an “experience” just as Starbucks has successfully done. However, as a news 5 report shows, it can be difficult to find the most effective way to provide good customer service.

For example, call centres are effective for Zappos. On the other hand, call centre’s for Wal-mart can simply be a greater hassle to its customers who are unaware of who the right person is to help them. As a result, the training for employees is key. The organizational culture and the motivation employees get from the workplace will allow them to provide better customer service.

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This morning I was flipping through the channels on TV when I found a documentary called “The New Promised Land: Silicon Valley.” It was about black entrepreneurs competing to gain capital for their internet ventures. Yet, Silicon Valley, home of Apple, Google and Facebook, is hardly diverse. Only 1% of entrepreneurs who attained venture capital last year were black. There are definitely under-represented minorities in the tech industry. Rey Ramsey, an African-American man who has a political lobbying firm for TechNet said, “We live in a society where race is still a factor. We’re waiting for the black Zuckerberg.”

It appears to be that the people that make it to the top are caucasian males. However, I believe in a time where education is accessible and tools are available, race should not hold us back in determining success. What I found most inspiring from the entrepreneurs in the documentary was regardless of the obstacles they faced, no matter what race they were, they all had one characteristic in common: passion. I believe the success of an entrepreneur lies with passion. If an entrepreneur is truly passionate about their product, they will go through the lengths to make it happen.

Check out the documentary on CNN.

Image from CNN Money

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In a reading for Comm 101, I came across a Warren Buffett quote: “It takes 20 years to build a reputation and five minutes to ruin it.” How important is a reputation to a company? Johnson & Johnson’s company gave me some insight.

Johnson & Johnson has built a reputation of product quality. The company produces thousands of different kinds of products including Tylenol and Motrin. However, in January 2011, J&J products at a CVS drugstore in Boston were in short supply. In 2010, the McNeil Consumer Healthcare unit of J&J recalled about 136 million bottles of liquid Tylenol due to quality-control problems in factories.

A mother said, “I don’t even consider buying them any more.” A company never wants to hear that its customers are no longer going to buy after having built a strong brand image. It would not be just one customer who is dissatisfied; word of mouth travels quickly. With the internet, word travels even fasters. In fact, the mother blogged about the situation also. Although some consumers remain loyal, Warren Buffett’s words remain true. The company reputation instills trust in its customers and if customers do not have that trust then it is useless.

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On October 25, Coca-Cola announced it was changing the design of its classic red can to white. The company pledged two million dollars to help scientists plan how polar bears can survive in Canada’s melting Arctic. The polar bear has been associated with the company’s image for many years. 7-Eleven stores are also raising awareness through the Snowball Effect app to educate people about the World Wildlife Fund and the polar bear.

Polar bear scientist, Andy Derocher said, “We need to find these private partnerships with non-governmental organizations that want to establish long-term conservation monitoring programs. We are not seeing that leadership from the federal government.”

Can companies influence citizens more than the government to be proactive? I believe companies can have a huge impact on its consumers. People are more aware of commercials than what is broadcasted on the news.  With the innovative use of social media, companies can get its message across and alter consumer behaviour. For example, the Snowball Effect app is interactive as users can share with friends on Facebook, download codes on products and earn points for prizes. Perhaps, government needs to look into alternative methods to get their word out.

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Taco Del Mar opened on June 8, 1992 in Seattle. Ever since, it has been selling fish tacos and Mission style burritos. The company has continuously showed its entrepreneurial spirit. By 2002, it had 70 stores. In 2002, revenues were at $950,000. In 2003, it kicked off a national expansion. It modified its services as it expanded. Previous to 2003, Taco del Mar had a fast-food environment. However, it changed to provide a more casual-restaurant feel with tropical colors and a thatched shack ringed with bar stools. What sets this company apart, is the experience the customer receives. The customer is able to see the food being prepared right in front of them. Taco del Mar was equipped with innovation. The investment definitely paid off. By 2005, Taco del Mar had a revenue of $5.4 million. This goes to show that entrepreneurial ventures have to continuously keep up with the customer’s demands and find unique ways to set the venture apart from others. Yet, entrepreneurial ventures always face some risk. As revenues went up so did expenses. Taco del Mar filed for bankruptcy protection in January of 2010.

References:

Taco Del Mar Website

Taco Del Mar Bankruptcy 

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TechCrunch is a blog informing readers of new start-up companies, new Internet products and tech news. TechCrunch has more than 37 million page views per month! This blog is interesting because as technology is driving businesses today, a central network for tech news is appealing to people. Not only does this blog represent reader interest within the tech world, but it also act as a business. TechCrunch is a company that hosts conferences, has advertisements on its page and is influential within the industry. I did a blog post before on how TechCrunch was being criticized for giving out too much information on certain investments. It goes to show the changes the industry is facing. Investment records and information used to be more private, but now anyone can have an opinion. TechCrunch writers have the power to alter customer behaviour. TechCrunch exposes companies and gives them attention for better or for worse. It is in itself an advertiser. For example, I found a post on Presentify.me, a company that is producing groupons in the form of gift certificates. It is a start-up that I would have never known if it were not through TechCrunch.

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Companies are always measured by their profitability. Ultimately, the more money a company can make, the more successful. However, companies have come to realize that maintaining sustainability is success as well. In March 2012, the Globe Conference will be on in Vancouver. The Globe Conference will have guests from successful companies such as Microsoft and Ford who will meet to discuss developing sustainability initiatives. The initiatives range from clean technology, renewable energy and green building to name a few.

Companies have a duty to be sustainable. Companies have a strong influence on consumer behavior beyond buying a product. Therefore, companies are able to influence consumers into environmentally friendly actions.

In the words of R. Edward Freeman, “shareholders, financiers, customers, suppliers, employees and community can together create something that not one of them can create alone.” Together everyone can create a more sustainable living.

http://www.csrwire.com/press_releases/33084-World-s-Top-Corporations-Confirmed-to-Participate-in-Global-Discussion-on-Building-a-Sustainable-Economy-for-the-21st-Century

In comm 101 class we were talking about the difference between strategy and tactics. A tactic to become great business leaders is improving our communication skills. Nowadays, the proper usage of social media is essential for business leaders to communicate their company’s vision globally. Blogging is becoming an important skill to develop, not just for comm 101 class. In fact, companies are using blogs to attract investors.

SilverRail Technology, a company associated with online travel planning, recently started blogging to develop an effective online presence. “We try to make our posts fairly statistic-based, and it is deliberately written so potential investors and partners look at this stuff,” says CEO Gowell. Investors can look at blogs to gain a better idea of what the company is really like.  The company blog should also be able to include other press about the company outside of its own sources.

Advice by a partner at Flybridge Capital Partners said, “My advice is to have the post be short, and to follow the truism that if I had more time I would have written a shorter letter,” Greeley says. “It has to be really thoughtful and on point.”

SilverRail Blog: http://www.silverrailtech.com/mission

Reference: http://www.inc.com/guides/201109/how-to-use-your-blog-to-attract-investors.html

On Monday Night Football (September 12), the italian car brand Fiat launched its commercial featuring the one and only Jennifer Lopez. JLo is seen cruising the road in a Fiat 500 Cabrio convertible. However, it seems more like a JLO music video highlighting a Fiat Car rather than a Fiat ad featuring JLO.

Since the introduction of the ad, a study of web traffic by Edmunds.com announced that consideration for Fiat has climbed 31%. It was an interesting strategy to have Fiat ad space during NFL games when the target market is women. Yet, it turns out about six million women watch NFL games, which outnumbers the viewers for popular TV shows.

However, despite the clever placement of ads the brand positioning for Fiat is not sending a clear enough message. Considering how many car brands are bombarding us with continuous marketing, Fiat’s points of parity which include style, quality engines and high tech content is not as evident. Fiat even has a new more modern logo to reflect their future technology. JLo’s presence is diminishing the brand image by emphasizing herself more than the car. Whether or not JLo has a positive impact in sales for Fiat is yet to be seen.

http://www2.macleans.ca/2011/09/28/big-star-small-car/

http://www.insideline.com/fiat/500/jennifer-lopez-commercial-drives-interest-in-fiat.html