Jocelyn Lam's Blog

One of the best marketing strategies widely used is Product Branding.

The way a specific product is branded and packaged is crucial to how that item is perceived and valued.
A strong example of this is the highly consumed soda pop.

Everyone must have went to the grocery store and picked out a specific soda before.
The question is, what brand of soda did you buy? What led you into buying this specific brand?
There is no doubt that the reputation and packaging of the soda had a large impact towards how you make your decision.

Reputation is important. It’s the decision between being a well-known and anticipated brand from a ‘B-Status’ substitute brand.
Personal preference and values may also affect the decision. The specific taste and satisfaction provided from the product will obviously affect the consumer. But if the taste and satisfaction are similar, evidently consumers will be more willing to purchase the more widely anticipated and visually appealing brand.

A few classes ago, a question was imposed to the class:
Which is the bigger motivator for you, power or money?

Many people may pick money because of the ‘greed’ part of their personality. Many people may pick power because of the ‘power hungry’ part of their personality.

If I’d have to pick, I will have a lot of trouble doing so. This is because these two motivators are actually coherent. When you have power, you can get money. When you have money, you can buy power.

OR  ?

Ethical businesses: Body Shop was one of the best examples of this. This really interested me, which lead me to do a little more research on this.

Body Shop has a motto of never testing on animals.  “Our products are not tested on animals, never have been and never will be.” They also stand by using ‘nature’ and ‘pure’ ingredients in their products.
By doing this, Body Shop differentiates themselves from other businesses in the market. This is a type of marketing skill that attracts a lot of consumers that want to somewhat be ethical in their purchases.
Body Shop created a Community Fair Trade that operate with the objective of “creating trade to help people in the Third World utilise their resources to meet their own needs”. With this, Body Shop is able to help people and allow them to obtain natural ingredients for their products.

Body Shop also join forces with many organizations such as UNICEF and ECPAT to create campaigns associated with HIV/AIDS awareness and violence prevention.

Looking into these facts, Body Shop is evidently a very ethical business that does not solely focus on making an increase in profit and revenue.

Body Shop

Apple Inc. is one of the most well-known companies out there, no doubt that almost everyone has either heard or used their products before. It is an American corporation that designs and markets electronics, computer software, and personal computers. Apple is an example of an entrepreneurial company. This company is considered entrepreneurial because it exhibits many of the characteristics given, based on the reading “A Definition of Entrepreneurship”.

Apple exhibits Amount/Speed of Wealth. The innovative products that it has created basically changed society. Everyone is lining up to obtain one of the newest products available. The amount of wealth created is quite substantially high and the wealth creation is fairly rapid.

Apple exhibits Innovation. The products created by Apple are very innovative, creating competitive advantage among others. The new sleek and thin designs stride for the attention of today’s youth. Their products continues to surprise the audience with their reduction of size, weight and new designs.

Apple exhibits Risk. As a result of their rapid change of products and designs, it creates a potential risk of consumers not accepting the new product and staying with their old products.

For more information on Apple Inc.,
visit their official website: Apple