A lazy Sunday evening and I do not feel like moving or doing anything else which costs too much brain. I roam aimlessly in the virtual world to try to spot something exciting. I finally come to my friend Sheree’s blog. I was curious what she was writing for marketing. In her last blog, she talks about China’s biggest discount online shopping company—TaoBao (淘宝). Here is the article “3rd blog-TAOBAO- The great successful of E-BAY in China“.

Last week, our group has just finished Groupon marketing presentation. It was great. Those smart boys also made an amazing video for it. That is very cool. 🙂

The When it comes to daily deals you probably could name a bunch of online companies such as Groupon, LivingSocial, Zozi, At Cost and so on and so forth. And this morning as I was watching TV Quibids commercial came to my eyes for the first time, the fun, exciting and fast-paced auction website. I was born and raised in China. Recently years with China’s economic boom, many virtual stores sprouted overnight like TaoBao, Vancle，Gaopeng, Dangdang, etc. It seems the buzz of online deals is sweeping across the world. What is behind it? I think the following reasons should be taken into consideration.

First, we are under a tight economic background, so have to be frugal. This is very easy to understand. Second, technology development makes all these changes possible. Tech Age! Third, consumers are more savvy and value-seeking. We are become smarter since they have more choices before us. Compare the offers and choose the best deals. Fourth, the change of people’s life style. Work, work, work to death. Busy, busy, always busy. That is the typical description of our life. So those daily deals fit us wonderfully. We do not have to shop around. Just a few of clicks, it’s done. That is cool? Of course. Last but not least, competition works. As the market grows mature, it tends towards increasing competition. Virtual stores save cost, and at the same time it offers greater customer value. Knowing what the consumers need and want is always the key.

After reading Chace’s blog of “Ethics in Marketing”, it leads me to think about ethics-based marketing from the point of view of business education. As the slogan—work hard, earn more & consume more, then be happy— is plaguing around the world, ethical values seem to lose color. Marketing salespeople are trying to use every possible measure to boost sales. Look at the following video about Bunker’s footwear.

Every day we are bombarded by numerous advertisements persuading us to buy more. The most commonly mentioned terms in most business school education courses are all the ways directing towards cost and profits. In our early business career our schooling makes us far more familiar with the philosophy of  “Time is money” . Profit maximization has not only become the goal of an organization, but also been deeply imbedded in our character-building through the reinforcement of business education. Materialism, self-interest, fierce competition and unrestricted freedom are the interpretation of core values of our life.

Thomas Lickona, a developmental psychologist and professor of education at the State University of New York at Cortland, once pointed out that there are two parts of character-building  “performance character” such as self-discipline, hard work, and perseverance, which are the necessary qualities needed for achievement and “moral character” such as honesty, respect, and caring, which are the necessary qualities needed for ethical behavior in relationships). A successful education in Thomas Lickona’s understanding must intentionally try to develop both sides of character if “we want young people to grow up to be balanced adults who have other values in addition to work and achievement, who make time for friends, family, recreation, community service, and spiritual growth.”

Ethics-based marketing and business school moral education are two big topics which can be written for many pages. My point here is to shed light on what a school education should do to clean the air in a decadent and money-driven society. As President, Ronald Reagan, said about education’s basic purpose: “We’re beginning to realize, once again, that education at its core is more than just teaching our young the skills that are needed for a job, however important that is. It’s also about passing on to each new generation the values that serve as the foundation and cornerstone of our free democratic society–patriotism, loyalty, faithfulness, courage, the ability to make the crucial moral distinctions between right and wrong, the maturity to understand that all that we have and achieve in this world comes first from a beneficent and loving God.”

 I am a fan of Louis Vuitton and I love it so much. After I read Wei Hong’s blog about “Louis Vuitton’s Scene Marketing”, I feel the need to talk about Louis Vuitton’s marketing strategy. Wei said, “It will let you stand out in any occasion… through creating a vivid scene.” Yes, sure, when you carry a fashionable LV bag you would probably feel very good in front of your friends, but why? The question is that what makes you stand out in any occasion. You do not need a LV bag to be a spectacular scene. It is not about the vivid scene you show to friends, but it should contribute to Louis Vuitton’s customer-driven marketing strategies. Louis Vuitton knows exactly how to differentiate the market offering to create superior customer values and position the market offering in the minds of target customers.

When it comes to Louis Vuitton I often think of the tragic movie “Titanic”. It was reported that a Louis Vuitton bag was the only luggage to survive the sinking Titanic.  Sunk to the sea bottom, the contents of the luggage was still in good condition mainly due to LV’s superior waterproofing and seam sealing. As you might be surprised by the story, you would likely be shocked by the high quality Louis Vuitton provides to customers as well. Louis Vuitton is Louis Vuitton. It is that different.

 Louis Vuitton is synonymous with luxury and exclusive. It is a symbol of status. In 2010 Louis Vuitton ranked the second place in the Luxury Marketer of the Year awards. It brings “ the history and prestige of the French fashion icon to life.” When you carry a LV bag you will definitely feel good inside and outside because Louis Vuitton means—quality, luxury, status and exotic romanticism. It lets you know that life is a process, a discovery. That is the vivid scene that makes you so cool!

I have been in a depressed mood since my money was transferred to a fraudulent account from Bank of Montreal to Standard Chartered Bank of Hongkong last week. A swift investigation was now underway, but my heart was still heavy. However, I am quite satisfied with BMO’s quick response and customer-centered attitude. Nearly every day the bank’s customer service representative would make a phone call to me reporting how the case was going on. Last Friday, when I went to the bank to deposit a cheque the representative even gave me a Chinese pin-up calendar and said happy Chinese lunar new year to me. I was actually quite touched by it. Studying overseas is a challenging experience for me, but there is still someone out there making me feel like at home. And that someone is not a friend, but my bank—Bank of Montreal. This makes me feel that the bank not only cares about my money, but also cares about my feeling. BMO “Making money Make sense.”

Due to growing immigration Canada is becoming more and more of a multicultural country. How to attract and retain new immigrants and create customer value added service is becoming paramount for each bank. The markets relating immigration and new comers are producing multibillions every year. The banks, of course, want to have a piece of the big cake and keep a close eye in this potential market. Among the big five banks, three of them( RBC,BMO and CIBC) have Chinese online service if you open their portal website, and among the three, BMO and CIBC have a complete set of Chinese banking system. When you logon their website you can clearly witness three language services: English, French and Chinese. TD and Scotiabank only provide French and English services.

Chinese clients are becoming an important market segment for the banks. Many banks have developed special marketing strategy targeting Chinese clients, creating customer value and achieving profitable customer relationships. Obviously, you would feel very happy when your bank says happy new year to you and puts a traditional Chinese calendar on your hand because that means a lot to us. It tells that the bank really cares about you and your tradition. Isn’t that a smart way to keep a loyal group of special clients? Definitely! Through marketing differentiating BMO occupies a clear, distinctive , and desirable place relative to competing banks in the minds of target consumers.

Welcome to UBC Blogs. This is your first post. Edit or delete it, then start blogging!