Marketing Strategy: Mob Mentality

During my break, I decided to go to the Sauder library to study and get some readings done. I sat down and all of a sudden, two Sauder boys that I know, started yelling at each other about something that happened yesterday and something to do with inappropriate things to one of the boy’s girlfriend. Everyone dropped their pencils and looked up to see what’s going on. A few people in the library screamed “Nobody wants to see this, take it outside please.” One of the boy knew that the yelling caught a lot of attention so he got fired up and pushed the other boy to make a big scene. Both of the boys’ faces were tomato red but the crowd kept saying “Take it outside!”, they eventually ended the fight and walked opposite ends. As you can see, mob mentality is a BIG factor. If the people in the library chanted “Fight! Fight! Fight!”, things would have been worse.

This also reminded me of how I choose which restaurants I want to eat at. When a new restaurant opens up, my heart desires to try new foods but my mind wouldn’t let me until I see how many people are in the restaurant before I enter. If I see nobody in the restaurant, I most likely wouldn’t walk in because it’s extremely awkward for me. If there’s a lot of people, I probably will run in and try to get a number to wait for a table.

Another example about mob mentality is buying jade. When I went back to China to visit family, one of the main things my family values is jade. For a business, it’s extremely hard to get someone to buy jade. A mob mentality strategy is the successful way to get more customers to buy jade. I noticed when we go to jade stores, the manager or sales associate will ask what your preferences is in jade (colours, styles, Buddha, zodiac), they get you interested, however, they also know you feel uneasy buying it. Therefore, they have their elder family members come by and compliment how it’s beautiful the jade you picked and bargain to buy it. This tactic will make you to pull your wallet out to buy it ASAP. This tactic is successful in making money, however, if you cheat the customers as in giving them fake jade, they probably will not come back and the business will eventually declare bankruptcy.

iPhone 5″C” should be CHEAP!

Apple launching iPhone 5C and 5S at the same time didn’t turn out as expected! iPhone 5S sold out on the first day it launched. However, iPhone 5C inventory is sitting in the backroom waiting for an owner. Everyone expected that iPhone 5C will target cheaper consumers but with the price of $599, nobody will buy it. There’s only a $120 difference from the price of iPhone 5C to iPhone 5S. Therefore, we can see why consumers would pay a little extra for a better phone (iPhone 5S). On the Apple website, iPhone 5S all colours are sold out and iPhone 5C is available in any colours and can be shipped to you within 24 hours. This shows that there’s a lot of iPhone 5C inventory in Apple’s backroom.

In my opinion, iPhone 5C should be only half the price of iPhone 5S because iPhone 5C is a plastic phone. Without Steve Jobs, Apple doesn’t have anymore innovations and they are lacking on the marketing. In my perspective, Apple seems to target the same customer segment since there’s not much of a difference in the price of iPhone 5C ($599) and iPhone 5S ($719).

See the article here:
http://www.huffingtonpost.com/2013/09/17/iphone-5c-number-apple_n_3941101.html

Check out the price and inventory here:
http://store.apple.com/ca/buy-iphone/iphone5s
http://store.apple.com/ca/buy-iphone/iphone5c

Blackberry CEO and CFO and Blackberry Investors are ALL at fault

Blackberry investors are filing a law suit against Blackberry CEO (Thorsten Heins) and CFO (Brian Bidulka) for misleading the investors that the Blackberry Z10 has a good prospect. The investors also blamed Ontario-based smartphone maker for not warning the investors that Blackberry is not on the recovery road. Blackberry CEO and CFO knew the Blackberry Z10 was probably going to be a fail yet they still told the investors that it’s going to be the best thing in the world. Blackberry CEO and CFO shouldn’t exaggerate how it’s the best thing in the world. Blackberry obviously doesn’t have business ethnics at all.

However, in my opinion, it’s not just Blackberry’s fault! Investors must accept their loss and move on because serious investors should have done their own research. Two years ago, Blackberry faced a law suit on its financial condition and the prospects of the PlayBook tablet. The U.S. judge threw out the law suit so why do the investors think this law suit with the failed launch of Blackberry Z10 will succeed? Investors shouldn’t just rely on what the CEO and CFO say and invest then when it’s a fail launch, expect the law suit to get their money back to them.

See the article here:
http://ca.finance.yahoo.com/news/blackberry-faces-class-action-suit-us-052308162.html