Imran Siddiqui's Blog

From raw materials to finish product—the process has to be well defined by any manufacturing business. In this process, a product undergoes several stages and, at every stage, value is added. However, the question comes to my mind, as a marketing student is how does the business manage efficient flow of information?

Today, we manage this flow of information using MIS. David Huyunh and Enzo Woo emphasized the importance of MIS in their well-written blog posts. Information system is the soul of business. Efficient management of information system enhances the productivity throughout the supply chain of a business. Lets take a simple example of Dell.

Dell processes its production after customer places the order online, based on customer’s preference the laptops are usually customized. Once an order is placed, the laptop moves from one stage of production to the other. Starting from the supplier of parts, such an Intel supplying the required materials to the customer via the shipment company. The importance of information flow in this process is vital for the completion of the order on time. In order to make sure that the right product is delivered to the right department of production at the right time, Information System makes sure that Dell can keep track of each and every laptop throughout the process. Information System also make sure that the supplier knows the right amount of materials to deliver at the right time and the shipping company knows the right time to deliver the finished product.

Dell heavily relies on MIS for efficient flow of production, so does any other business. In marketing, MIS is also vital to make sure that the marketers get the right information about the product performance and efficiently mine required information in order to plan and strategize an effective marketing campaign.

The name of Grameen Bank emerged with Dr. Mohammad Yunus, who won the Nobel Prize for micro-credit banking, giving rise to a hope to alleviate poverty from the world. Today, Grameen has more than eighteen companies under its name; each of them is working towards community development (from garments to food products). Furthermore, Grameen is now towards a transformation process from a non-profit making organization to a profit-making company. During my internship in Grameen last summer, a question popped in my head: Why invest in poor people when I can’t even get anything in return?

The answer is social responsibility. Roseko mentioned in his blog about how marketing tools are misused to portray a false picture to the public, whereas, a social entrepreneur like Dr. Mohammad Yunus is one of those influential people in the world who have led this world towards prosperity by creating jobs and employment for poor people. However, how did this simple idea of micro-credit banking become so popular all over the world?

Marketing: a mouth-to-mouth marketing strategy…

Grameen follows three rules: a chair is assigned to the group of borrowers, the chair reports to the loan officer and if anyone from the group defaults the loan then the entire group is denied from future load and no fabrication of information is used in the advertisement about the products/services Grameen provides…peoples’ feedback are based on what they feel about the product.

I believe this method of marketing is very effective. . Grameen heavily relies on its customers to get other customers because a member of the community is very likely to convince other members of the community, as the community members feel a sense of belonging and trust, if recommended by other members of the community. On top of that, Grameen, as mentioned before, is now turning into a social company to a profit making company, which substantiates the success of the Grameen as an organization that makes profit with community development.

“Sometimes you just can’t get what you want, but you always get what you strategize for” this came to my mind during class where we discussed positioning and strategy. Positioning is an idea to “stand-out” in the eyes of customer. However, sometimes one wrong step can ruin the reputation a company builds with millions of dollars.

Vs

Standard Chartered—winner of Bank of the Year Awards, Global Band Awards, Best Bank Awards and the list goes on and on. How did Standard Chartered manage it? The answer lies in Standard Chartered’s strategy. They positioned themselves as the bank for everyone (corporate clients to minimal income saver) and designed their marketing strategy that lives up to this positioning through flexible services offered based on specific customer needs. In one sentence Standard Chartered “fits everyone”.

Now on a different scale: RIM.

David Hyunh in his blog-post “RIM still thinks Marketing is Advertising” mentioned that RIM’s marketing strategy to reposition them has backfired (evident from the reactions of customers and RIM stakeholders). I completely agree with the idea that the whole repositioning idea for RIM blackberry from a “corporate-preference” to “social device for everyone” worked against its image. Comparing RIM’s marketing strategy with Standard Chartered’s strategy makes it evident that the consistency and meeting the bang-on target market requirements is required for any company’s success.

However, RIM needs to follow the footsteps of Standard Chartered by being steady in its marketing strategy, redefining the target-market needs and building the product based on the need. I believe, RIM needs to stop fighting back with its own image and must focus on sustaining it strengths by building on the strengths and NOT play around the image.

Have you ever wondered why did you buy a particular product? What made you choose that specific product among countless alternatives? Psycho tactics have been used on consumers for more than 5000 years and, today, it’s proving to be one of the key success streams for large corporations, such as Apple. Even the colors used in marketing materials signifies something:

Red: excitement, strength, sex, passion

Green: nature, fresh, cool, growth

Gold: prestige, expensive

White: pure, virginal, clean, youthful…and so on

Products not only come with its own features but also with a tag line: American Express (Don’t Leave Home Without This). Others include Apples 1998 slogan: Blow minds, not budget. It shows that the product is for everyone, which is likely to be under the budget. It not only boosted sales but prompted customers to opt for the product: both psychologically and instinctively. It makes consumers relate themselves with the product as if it’s a replica of oneself. So why do we decide to buy such products? For most of us, to follow the social norm and for most of us, a means of representing ourselves. In this battle of need and want, large corporations extract a large chunk of our disposable income for a product, which we may not actually need.

Concluding the overall context, I would suggest that consumers must think twice before making a purchase and decide whether it’s a need or a want.

Sources:

http://www.psychotactics.com/

http://www.brandingstrategyinsider.com/2008/06/color-psycholog.html

My name is Imran and I am currently pursuing my second year BCom degree in the Sauder School of Business at UBC. Finance, Accounting and numbers—were the few things that used to jumble in my head when I hear first entered Sauder, but it is after coming here I realized that there are other fields of study which are equally appealing and interesting.

So here I am taking Comm 296, a course that explores a subject I have never studied before. Marketing surrounds us, starting from the moment we wake up to the time we go to bed; everything we do and eat has some element of marketing in it. That is why I chose this course, to explore and enhance my knowledge of marketing more deeply. My hand on experience with marketing was when I worked as a representative of BAC, an educational institution in Bangladesh. I led a team of seven people to market BAC in an educational fair where I presented BAC to over 190 potential customers. . I established positive relationship with the customers by handling inquiries in a professional manner and promoting BAC. It resulted an overall increase of 8% in the enrollment rate immediately after the fairs. This not only augmented my communication skills but also enabled me to learn how to deliver to customers by keeping company goals as a priority. About myself, one thing that I would like to share to everyone is that everyday when I wake up, I write down any ideas that come to my mind. I believe that’s the time when I am calmer and my brain functions well. My favorite advertisement that I recently watched was this. The reason I like this add is that it conveys the idea how staples offers back to school deals with humor which is likely to leave an impact on people’s minds and makes the add difficult to forget.

I still remember the first day I walked into the class, unaware of the world I was about to explore. As the weeks went by, I learned the aspects of the business world that I never bothered about.

Starting from the resume, cover letter to how to network were the key points that changed my perspective. I realized there are infinite ways of finding a job and such tools are very important. The resources this course provided me, helped prepare the world of business that I am about to enter in a couple of years.

In one word, if I have to describe this course, it’s awesome.

“My son will be an engineer,” said my mother, the very first day I was born. Machines never stimulated me rather I was always keen to know how a business operates.

When the decisive subject choosing day came for GCE examination, I was literally bound to choose a subject of their choice. I was exhausted between the battle of my brain and heart. My family members bombarded me with the immense possibilities of picking careers in engineering, medicine or pharmacy. I was at a loss. I began to feel an unbearable pressure from my family. During that tormenting time, my teacher appeared to be a beacon of light. He listened to me with utmost patience and replied, “Life is a race and everyone has to run…don’t try to run after success…try to achieve excellence…the success will be at your feet”. His advice was a pearl of wisdom to me. I chose to study Business Management which caused my family frowning at me but I was determined and I knew I was doing the right thing.

After some torrid time, here I stand today achieving the world highest mark in GCE A-Level Accounting. Therefore, my teacher was the person who inspired me and made me stand in the position where I stand today.

How to reach customers? How to expand customer base? How to get noticed by customers? How to succeed? The only answer to the questions is “information-technology” or IT.

Using information-system effectively is the stepping-stone for a company’s strategy. Its evident that companies who use effective ways of reaching customers has accomplished, not only getting a competitive advantage from rivals but also enjoying brand loyalty.

Facebook, twitter, YouTube, MySpace and many more act as a means of social media and have revolutionized IT. Apple, Coca-Cola, Pepsi etc took the initiative of using IT effectively, which enabled them to reach customers. As an outcome, customers are aware of the products. This paves the company’s path towards obtaining a greater market share and develops brand loyalty.

However, if a company chooses the wrong way to reach customers and target the wrong group of customers, it will result in a catastrophe. It will incur losses rather than thriving in the market. Therefore, a proper blend of identifying the means and mechanizing a strategy that deals with reaching the objectives is vital.

The pillar of success of giant companies has been IT because it blends with every aspect of the business from accounting to marketing.

When I think of a social entrepreneur, the first person that comes to my mind is Dr.Muhammad Yunus, the managing director of Grameen bank. He introduced Grameen Bank as the bank of the poor. It offered micro-credit to people who don’t possess the creditability to borrow money and repay principal with interest.

How did micro-credit changed the world of poor? Click here. Jarima Khan, a poor woman whose husband earned 20 cents/day, was unable to eat even two meals a day. In December 1997, she heard of Grameen bank and borrowed her first loan of $20 USD. She used it to trade rice and today, she lives a happy and comfortable life fulfilling her and her family needs. Alike Jarima, there are thousands of poor women who borrowed money from Grameen bank and paved their path towards happiness.

This idea is a revolution. Grameen bank is based on mutual trust, participation and strict supervision.  This social entrepreneur has identified a social problem and mechanized an effective solution to solve it. By 2050, micro-credit system is expected to reduce world poverty by 50%.

It’s a step towards making poverty a history.

Entrepreneurial relates to the decision-making and efficient utilization of the factors of production, which leads to a rise in wealth and innovation of the company. EBay, a multimillion-dollar company, is a concrete example of being entrepreneurial. It operates in more than 30 countries of the world offering an online market where the buyer and seller can meet to trade. EBay exhibits entrepreneurial characteristic, as it not only creates a new market but also adds significantly to innovation with respect to new product methods.

EBay emerged with the idea of creating a new market where anyone can sell and anyone can buy. The medium is internet, which provides every individual and businesses with an opportunity to be a part of e-commerce and trade wide range of goods and services worldwide. Moreover, EBay innovated new methods of selling; creating new payment systems that has revolutionized the e-commerce. For instance, billing systems such as “bill me later” has added to the facilitation of online payments.

I would conclude stating that EBay aided commerce to become “mobile commerce”.

Sources:

http://www.ebay.com/

http://www.techvibes.com/blog/ebay-seeks-canadas-best-entrepreneurs-innovators-and-family-businesses