Liam's Blog

This blog is dead. My current blog is at: Fifty Two Deja Vu

For any of my fellow Sauderites that are interested choosing real estate as an option next year, here is a good list of potential employers to consider. This list was taken directly from a list of event sponsors in a weekly e-bulletin from NAIOP, a commercial real estate development association. Of course, this is just the tip of the iceberg, I am sure.

BC Hydro

Bentall Kennedy (Canada) LP

Cadillac Fairview Corporation

Canada Lands Company

CEI Architecture Planning Interiors

Colliers International

Cushman & Wakefield Ltd.

DLO Move Support Services Ltd.

Grosvenor Americas

Ivanhoe Cambridge

Oxford Properties Group Inc.

Terasen Gas Inc.

Unison Construction Management Ltd.

Blake, Cassels & Graydon LLP

CB Richard Ellis

Chandler Associates Architecture

Clark Wilson LLP

Counterpoint Interiors Inc.

Farrell Estates Ltd.

GWL Realty Advisors Ltd.

Lawson Lundell LLP

Omicron

Polaris Realty (Canada) Ltd.

Totalplan Inc.

Wesgroup Properties Anthem Properties

Avison Young Commercial Real Estate (BC) Ltd.

BDO Canada LLP

The Beedie Group

Borden Ladner Gervais

Bosa Development Corporation

B.U.K. Realty Corporation

Boughton Law Corporation

Churchill International Property Corporation

City of Abbotsford

City of Surrey

Concert Properties Ltd.

Fasken Martineau

Fusion Projects

Impark

Keystone Environmental Ltd.

KMPG MSLP

Matra Construction Inc.

Martello Properties Services Inc.

McCarthy Tetrault LLP

Morguard Investments Ltd.

NEXT Environmental Inc.

Pacific Dawn Asset & Property Management

Pottinger Gaherty Environmental Consultants

Stuart Olson Dominon Construction Ltd

Tonko Realty Advisors Ltd.

Ventana Construction

Warrington PCI Management

Warrington PCI Management

BC Hydro

Bentall Kennedy (Canada) LP

Cadillac Fairview Corporation

Canada Lands Company

CEI Architecture Planning Interiors

Colliers International

Cushman & Wakefield Ltd.

DLO Move Support Services Ltd.

Grosvenor Americas

Ivanhoe Cambridge

Oxford Properties Group Inc.

Terasen Gas Inc.

Unison Construction Management Ltd.

Blake, Cassels & Graydon LLP

CB Richard Ellis

Chandler Associates Architecture

Clark Wilson LLP

Counterpoint Interiors Inc.

Farrell Estates Ltd.

GWL Realty Advisors Ltd.

Lawson Lundell LLP

Omicron

Polaris Realty (Canada) Ltd.

Totalplan Inc.

Wesgroup Properties Anthem Properties

Avison Young Commercial Real Estate (BC) Ltd.

BDO Canada LLP

The Beedie Group

Borden Ladner Gervais

Bosa Development Corporation

B.U.K. Realty Corporation

Boughton Law Corporation

Churchill International Property Corporation

City of Abbotsford

City of Surrey

Concert Properties Ltd.

Fasken Martineau

Fusion Projects

Impark

Keystone Environmental Ltd.

KMPG MSLP

Matra Construction Inc.

Martello Properties Services Inc.

McCarthy Tetrault LLP

Morguard Investments Ltd.

NEXT Environmental Inc.

Pacific Dawn Asset & Property Management

Pottinger Gaherty Environmental Consultants

Stuart Olson Dominon Construction Ltd

Tonko Realty Advisors Ltd.

Ventana Construction

Warrington PCI Management

Buyer’s remorse or post-purchase dissonance… we all feel it at times. Buying a $7.50 chicken burger (only the burger) without knowing the price was my last memorable experience of the feeling. I got to thinking about the topic after reading my teammate, Jason’s, post on Apple’s ‘Black Friday’ promotion. What I found most interesting was his insight that Apple doesn’t often offer discounts on its products in order to minimize post-purchase dissonance. Of course the company would avoid sizable discounts on regular basis as to not lower the perceived value of its products in the minds of consumers, but prevent buyers remorse? I guess it really makes sense when you think about it. Anyone would be slow to purchase new apple products in the future if the company was known for offering large discounts on products several months after they were released. In a sense, they may feel betrayed by Apple as when the purchase took place, it was communicated to them that they were receiving a good value. Moreover, their trust for the brand would fade. On the other hand, companies that sell products known for their relatively low prices would be able to get away with offering short term discounts much easier as this type of behavior is expected them.

Besides carefully monitoring  sales promotions, a number of steps may be taken in order to avoid buyer’s remorse. Following up with customers via mail or email after a purchase has been made is key. Reminding them both of how valued they are as a customer and how wise they were to make their purchase decision can be useful to reassure consumers of the appropriateness of their purchasing behavior. Offering some sort of quality assurance and the availability of one’s services to help address any issues that the customer may initially have also help to give them peace of mind. The best response of the seller to mitigate post-purchase dissonance varies depending on the situation and the nature of the product or service that has been sold. Of course, in the case of my chicken burger, I should really have found out the price before I ordered the food. This way, I would have been able to decide how great my need for that chicken burger really was at that moment. Not entirely my fault, however, which brings me to my final point. The full communication of product and transaction information to consumers before they are pressured to make a purchase is essential to avoid buyer’s remorse.

Several weeks ago, I discussed some unique Xerox ads which incorporated both Xerox and one other brand (Ducati, Marriot Hotels, etc.) within a 30 second spot. These ads appeared to be clear and effective in presenting the two brands. Similarly, the following is an ad which presents four brands within 30 seconds.

The first time I saw this ad, I immediately thought that it was attempting to pull off too much. Really, how effective can an ad be in demonstrating four products in such a short time? Upon further viewing, however, I realized that this commercial is actually extremely effective in blending the four brands together in such an uncluttered manner. Conan O’Brien uses his massive star-power to promote the partnership of Blackberry and AT&T. Meanwhile, both his personality and the ‘Conan’ blimp provide powerful advertising for his new show, ‘Conan’. Moreover, the blimp (which does not at all look out of place due to Conan being involved in the ad) and the announcer advertise TBS. Likely only used to promote the Blackberry on AT&T’s network, Facebook is also mentioned as a potential 5th product. I don’t think I have seen so much advertising all in one 30 second commercial before. Clearly, whoever created and produced this ad is quite skilled in establishing transitions and in creating innovative promotional strategies.

Update:

I recently learned that this type of advertising is considered to be a cross-promoting. The key to this type of promotion is presenting numerous products together that appeal to the same target market. The multiple brands within the ad must work together to add value to each other in the mind of consumers. In terms of this advertisement, the offering of Blackberry phones with AT&T contracts certainly increase the value of such a contract. Conversely, offering Blackberries at a decreased price or for free with AT&T contracts certainly adds value to the Blackberry. Furthermore, the ability to use Facebook on such a device increases the value of the Blackberry, while enabling Facebook to be used on the device increases the usage rate of people on Facebook. Being a highly influential individual, Conan O’Brien increases the value of such a device and contract in the minds of consumers by making them ‘cool.’ His show certainly adds value to TBS as the network gains significant viewership, while the network facilitates the airing of the Conan O’Brien show. It doesn’t look like so much is going on at first, but upon a detailed inspection, an intricate web of cross-promoting certainly exists.

Damn you Glaceau …with your approaching-$4 products after tax, recycle fee and deposit. That price is just insane -especially for a poor person like me with my tiny income. Why don’t I just stop buying Vitaminwater then? Good question. I’ve thought about it a lot. To put it simply, I love the product! I even consider myself to have fairly conservative spending habits. Still, rarely does a day go buy that I fail to purchase at least one Vitaminwater.

Glaceau sells the image of health probably better than any other company. Despite rumors of Vitaminwater being primarily sugar-water (likely true), I still appreciate the product. Even if it isn’t as healthy as the company claims, it still tastes great and contains vitamins as well as natural coloring. I feel as if that $3.75 to $7.50 that I spend on Vitaminwater each day is the price I pay for my health. I think I have been cured by their ‘Mega C’ flavor numerous times on my way to sickness. Vitamins C and B together in one drink… is there anything more worth $3.75? I don’t think so. That is exactly why my reservation price for the product is so high- because I feel I am purchasing something so much more valuable than a bottle of juice or water. At the same time I can’t help but wonder if I am a little naive to think that a bottle of Vitaminwater does so much. Whatever the case, I will continue to purchase the product and marvel at how the company’s marketing department manages to get someone like me to to consistently pay so much for what essentially is just a bottle of water. So thank you, Glaceau (and I guess Coke), for making me a very poor man-one bottle at a time.

What’s more? The product is chique, hip, cool, classy. 50 Cent knows what’s up.

NESTLE is one of those brands we have all grown up with. One might go as far as to say that its numerous ads and slogans for its vast array of products have become infused in our culture. Certainly, it would be a challenge to find anyone who is unable to connect Kit-Kat with its “Have (/Gimme) a break…” slogan, any child who does not recognize the chocolate-colored Nesquik Bunny or anyone who doesn’t know that it is Coffee Crisp that makes a “nice, light snack.” A company that has extensively developed its product mix, Nestle demonstrates the importance of positioning numerous differentiated products in consumers’ minds. Differentiation by line extension (adding new products to existing lines) and brand extension (creating new product lines) has allowed the company to reach all types of consumers in a way that connects specifically to them and meets their specific needs.

The company has created significant depth in its chocolate bar line, for example, by offering Aero, Big Turk, Coffee Crisp, Kit-Kat, Turtles, Rolo, Mack Toffee and Smarties to name a few. Further, it has created designated peanut-free products to appeal to a large number of allergic consumers and slim sizes of many of its chocolate bars for those health conscious consumers. Of course, packaging in the chocolate bar industry is critical and Nestle has done a great job of designing colorful and appealing wrappers, logos and symbols. Moreover, Nestle has extended its brand by offering such varied product lines as Pure Life water, Purina pet food, Power Bar and other sports-nutrition products, Nestea iced-tea, Carnation hot chocolate, Nescafe coffee, dozens of ice-cream products including Haagen Dazs, Drumstick, Parlour, and various Nestle chocolate bar flavors, frozen foods, Nestle Baby baby food and more.

Besides a number of more obvious reasons for a company to develop its product mix such as to increase brand awareness and target a greater number of market segments, I feel that trust is a critical motive. I was having a bit of an argument about this with someone the other day and after hearing her position, I remain firm in my stance. Trust between a consumer and a brand develops either after repeated use of a product or after use of a number of a brand’s different products. This trust leads to loyalty and solidifies a brand’s position within a consumer’s evoked set. I feel that developing one’s product mix causes trust of a brand by a consumer to develop sooner. For example, if a person who comes to expect a certain level of value and quality in one Nestle product and is rarely dissatisfied by the brand decides to try a different product, they are more likely to trust that another Nestle product will deliver and will not waste their dollar. Purchases of Nestle chocolate bars become purchases of Nestle ice-cream and Nestea and possibly influence one’s decision to then buy Purina for their pet. By the time the same person begins a family and is out shopping for baby food, it is their past experience with Nestle and trust for the brand that may influence them to purchase Nestle Baby.

The commercialization of the music industry is a crime against humanity- in my opinion. However, it continues and there is nothing we can do about it (those of us that want to). In a sociology class I took last summer, my professor played ‘Hot & Cold’ by Katy Perry and had us count the number of different product placements throughout. It was amusing and the class found about five as I recall. The extent to which some “artists” go is ridiculous and I have had a tendency to consider such artists sell-outs in the past. Still, they have a point.

There is no denying that this an effective way to reach millions of consumers at a time and those with specific tastes as well. Although I like a variety of music from all sorts of artists and don’t necessarily want to be like any of them, I feel my type is somewhat of an exception when considering teens and tweens. Anyone notice the sudden invasion of Bieber inspired hairstyles that has emerged among middle and high school student across the US and Canada? Personally, I see them everywhere (unlike a few years ago). It always seemed like all the rich white kids that I went to high school with wanted to be ‘gangstas’ as well. A little too much 50, Tupac, Eminem and Lil Wayne?? I think so. But it’s fine with me. I have my heroes that I want to be like as well.

Back to my point… Product placement seems to be a great approach to reach the masses and those with certain tastes. A psychographic segmentation approach would likely be helpful in identifying those of particular self-concepts and lifestyles by associating certain brands with certain artists. Although, my initial response to product placements was one of disgust, I have come to expect it from certain artists and no longer think much of it. They DO make it clear in all of their songs that they are only in the music industry for the money (well some of them at least). As long as this product placement is to continue, we all better look into it, as marketers, in order to avoid missing opportunities.

Below is an example of more than just product placement… It is revolutionary… It is an ad within a video. There is no subtlety here whatsoever- and THAT is what makes it all the more noticeable and hilarious at the same time. Just watch the first 15 seconds yourself and see.

The next what is Katy Perry like I mentioned. Count the product placements!! Can you find them all?

Despite the positive aspects of product placements which I have discussed, I would be offended and shocked if I ever saw such things in a real artist’s music video. As cool as some ads are, they just don’t go with art.

As the Baby Boomer generation ages, the opportunities for targeting the elderly, as a market segment, expand. Seemingly, entrepreneurs throughout North America would do well to focus their efforts on fulfilling the needs of this population within the next decade or two. There are a number of potential difficulties likely to arise in targeting this segment, however. Can segmentation on the basis of such a broad demographic, age, be beneficial? Of course the elderly population is a key focus of businesses such as pharmaceutical companies, medical equipment suppliers, certain individual-dwelling apartment developers and banks but the majority of popular marketing campaigns in the media are still directed towards younger generations. Why is this so? The current elderly segment of the population (60 years +) consists of a substantial population already, it is growing at a much faster rate than any other (age) demographic and this demographic possesses a significant amount of  money.

On the other hand, maybe this group is the most financially conservative and wary about spending their money on new and fancy products created for them. This generation does possess greater financial wisdom and experience than younger generations. Many of them have come from simpler times and not fully adapted (as this is unnecessary in order to maintain their traditional lifestyles) to modern and changing technology. If this is a valid reason for the current lack of advertising towards the elderly, the situation is likely to change drastically as more of the baby boomer generation who have lived with technologies such as computers and cellphones for significant portions of their lives age. As this change occurs, the major North American companies that intend to be around for years to come will likely be forced to reconsider whether or not they currently offer the right mix of products and services to their elderly customers.

Maybe the approach in targeting the elderly is through their children. As the elderly have traditionally been significant benefactors of their children’s lifestyles, a continued focus on younger generations may continue to be as valid as it has been. The younger demographic certainly retains its marketing appeal as more and more “adult” children graduate from college or university and begin to live financially through their elderly parents. In any case, the weight that this growing segment will place on companies throughout North American and other places around the world will not go unobserved.

For more creative observations and unique insights into the world of marketing, check out Seth’s Blog. He has some of the most interesting posts of any marketing blog I’ve seen.

Xerox has created an image for itself as a leader in efficiency and in performing outsourced work. Using B2B marketing, the company has successfully branded itself as the prominent server of other businesses’ technological needs by stressing its ability to make life more simple for its clients. Although this may sound like the typical story of numerous companies who are leaders in their respective industries, the shocking aspect is how they have recently gone about portraying them self in such a manner.

Xerox released several ads this past September in which it markets itself and another company within a 30 to 35 second spot. The ads provide examples of several companies that trust Xerox to handle vital company information and clearly feel the benefit they receive from working with Xerox is well worth the cost. Not only do these ads do an effective job of marketing the Xerox brand, they also provide exposure for its partners (/clients), including Marriott Hotels, Ducati, the New York Mets and Notre Dame University. Furthermore, these clients likely incur a portion of Xerox’s advertising costs in exchange for this exposure.

The advertisements seem to possess widespread appeal as they demonstrate the value of contracting Xerox to provide information management and technical communication services to both large and small businesses. Owners of small businesses may view these ads as messages that contracting Xerox may be an essential step in order for them to grow, while managers of large companies with expensive and inefficient communication and information handling departments may receive the message that contracting Xerox is essential for them to reduce operating costs. Overall, I feel that these dual business advertisements are a powerful innovation and could be quite effective for a number of companies if used in the right context and presented in a simple, uncluttered manner such as Xerox has done.