Today's Success. Yesterday's Marketing.

ORIGINAL POSTED ON DEC 2ND (it didn’t post for some strange reason)

In one of Edward Hsu’s post regarding the Canadian Dollar surpassing the US Dollar (https://blogs.ubc.ca/edhsu516/2010/04/18/cadusd/), I had the same opinion about how it may not necessarily be beneficial for the Canadian economy. As a frequent shopper I often go past the borders to do some shopping when the Canadian Dollar is high, and have realized that this indirectly aids the US economy. However, at the same time this gives Canada more purchasing power on imports and exports. In addition, due to the increasing globalization of the markets, the economies of trading countries are closely interrelated. As a result, I believe that there are both pros and cons to the Canadian Dollar being above the US Dollar, but at the same time there are pros and cons for it being below.

In Carmen Chan’s post (https://blogs.ubc.ca/jellofish/2010/11/25/testing/), she recalled seeing an ad for the Hong Kong Business school at the Hong Kong airport. Surprisingly, I remember seeing an ad for UBC’s Sauder School of Business at the Hong Kong Airport. Like Carmen said, this was probably done to create awareness for potential prospective students looking for a BComm, MBAs or other degrees, as well as to attract business professionals for networking opportunities with students. An ad for Sauder at the HK Airport would not only attract those from HK, but people from all around the world that are arriving or transferring from the airport.

Here’s a blog from an external source that I found quite interesting as all of us at one point or another in time have probably been at this stage. http://sethgodin.typepad.com/seths_blog/2010/12/who-owns-wikipedia.html

Who owns Wikipedia? We’ve all probably used the site for some quick information and research finding, but who actually owns it. Well, according to Seth Godin, “you own Wikipedia.”

I am not a crazy fan of Apple products myself, but there are definately alot of people out there who are “Apple loyalists.” Since the release of the first generation iPhone,  the evolution of the product has been endless. From the iPhone 3G to the 3GS and now the iPhone 4 (and soon the proposed iPhone Pro), the product has continually been improved with new and improved features. Surprisingly, iPhone consumers are more than willing to purchase the newest and latest products. Those who were crazy about the iPhone were equally as excited when the iPad was released in 2010. 

Apple used a product development growth strategy where they introduce a new product to to the same target market. Majority of the people that purchased the iPad were already Apple consumers. In my opinion, this growth strategy is effective and demontrates a perfect execution of the company’s strategy through their constant release of Apple goods. Assuming Apple continues to utilize this strategy, the introduction of the iBoard in 2012 and the iMat in 2014 should be equally successful thanks to these Apple crazed consumers.

Just thought it’d be nice to share this with everyone =)

For 4 days only enjoy a special Buy One Get One FREE holiday drink from Starbucks…

Drinks to choose from:

• Caramel Brulee Latte
• Peppermint Mocha
• Peppermint White Chocolate Mocha
• Peppermint Hot Chocolate
• Gingerbread Latte
• Eggnog Latte
• Caramel Brulee Frappuccino (my fav!)
• Peppermint Mocha Frappucchino

Don’t forget it’s only from 2-5pm!

Credits : CouponLady

http://smartcanucks.ca/starbucks-buy-1-get-1-free-holiday-drinks-nov-18-to-21/#comments

I think this post speaks for itself. A sales promotion from Starbucks offering a buy one get one free deal – using the pull strategy to attract customers to their store. I have to admit that this strategy worked, because I went to Starbucks with my friend three times for this deal.

Remembrance Day is a special day in which we recognize those who died on duty during World War I. We wear the red poppy as a symbol to remember those who have fallen.

Like any other of the statutory holidays in Canada, we all get a day off on Remembrance Day. However, unlike any other holiday, there should not be a “Remembrance Day Sale.” It makes sense that there are Easter Sales, Christmas Sales and Labour day Sales, but is it really necessary to have a Remembrance Day Sale? I understand that a day that everyone does not have to go to school or work is the perfect day for a sales event to occur. But it feels disrespectful to the veterans when businesses and marketers use this day to their advantage. Many others share my view as they too are angered by the Eddie Bauer’s Remembrance Day Sale.

http://www.citytv.com/toronto/citynews/news/national/article/99280–eddie-bauer-s-remembrance-day-sale-angers-veterans-royal-canadian-legion

Remembrance Day should remain solely a day for remembering and if we were to promote anything at all, it should be John McCrae’s poem, In Flanders Fields.

Images from designer Lanvin’s first collection in collaboration with H&M was released recently in the promotional video just over 4 minutes long. The video seemed like it had no theme, no plot, and no story line, but one concept was apparent – Lanvin is suitable for everyone. The target market for this new line of clothing is implied in the video as it shows Lanvin is worn by the grandmother, the mother, as well as the daughter. It can be worn by skinny women as well as larger women and look just as fabulous.

Although I thought the video was a little weird and quite different, it fits well with Lanvin’s first collection which also appears to have its very own unique style and attitude.

In the past when we wanted to shop we would have to make our way to the shopping malls. Not only that, we also have to make sure the mall is still open. This means that for those who suddenly get shopping cravings at 12am midnight, you would have to wait some long nine hours before the malls are available for you to shop. Luckily for us, an internet channel known as Online Shopping was created.

The convenience of being able to shop from your very own seat at home is definately appealing to many. The idea that you can shop 24/7 is even better. Without a doubt, shopping online has its pros and its cons.

Free shipping deal!!

Pros

– it’s conveniently accessible anytime and anywhere

– time to surf through the catalog instead of rushing into the store grabbing what you went there for and leave

– offer deals for shipping (free shipping to anywhere in the world)

– usually gives a convenient option for return or exchange

Cons

– can’t actually touch or try on the product

– takes time for the actual product to be shipped to you

– risks associated with online payment, shipping info, and such.

– impulse shopping

Everybody enjoys a good deal and big discounts whether you are buying food, clothing or any other good or service. These sales promotion can definately grab consumer attention and direct traffic to the business. However, I realized that we aren’t just getting one deal – we are getting two. First, we sit around doing nothing and with no effort at all these sales promotions come directly to us. Second, we are given an option to save money or get more out of our money than usual. Thus we are actually getting two deals, one after the other.

For example, receiving “Buy One Get One Free” coupons from McDonalds. We don’t do any work or spend any effort trying to get a deal on food, these coupons simply come to us by mail offering the option to get two burgers for the price of one.

Similarly, sites such as SPCCard.com and Groupon.com send daily or weekly promotions straight to your email. For example, the exclusive weekly perks email I receive from SPCCard.com each week offering various deals, premiums and sweepstakes.

Although sometimes we spend money unnecessarily because of these deals (we could’ve just not purchased anything at all and save money that way), the thought that we got a good deal and great savings is still a really pleasant thought and feeling.

My mom is the one that normally does the grocery shopping around the house. I went with her recently and as I was putting a few things into the shopping cart, I suddenly remembered something I learned from Marketing class. Habitual decision making refers to a purchase decision process in which consumers engage in little conscious effort. I realized ever since I was young, and for as long as I can remember there had always been one thing on the kitchen table – Wonder Bread. Every week or so there would be a new loaf on the table, and regardless of whether I was eating a ham and cheese sandwich or peanut butter toast, for breakfast or for lunch, it had always been Wonder Bread. Although there were a number of other brands of bread on the shelf, I walked over and picked up a loaf of Wonder Bread without the slightest thought.

“Marketers strive to attract and maintain habitual purchasers by creating strong brands and store loyalty because these customers don’t even consider alternative brands or stores.”

Habitual purchasers are very important and valuable to companies as the long term relationship would continually provide revenue. Just a simple calculation of how much my family has spent on Wonder Bread – assuming each loaf costs $1, we go grocery shopping about once each week, there are 52 weeks in a year, and assuming we’ve been buying Wonder Bread for as long as I can remember, around age 5 (so 14 years), we’ve spent:

$1 x 1/week x 52 weeks x 14 years = $728 on Wonder Bread alone (and that’s based on the rough estimation of $1/loaf)

This habit will probably continue into the future as I continue to unconsciously pick up a loaf of Wonder Bread from the shelf and into the cart.

It’s hard to imagine how much money in total we might eventually spend on bread and other habitual purchases.

When given a choice between a good that is ‘Made in China’ or ‘Made in Italy,’ there is no doubt that the majority would prefer the later. In general, there is a biased assumption that things made in China are of bad quality or unreliable. In many cases, this may be true. However, China has been known for their knock offs, or ‘imitations’ of various luxury brand name products, and other than the difference in quality, they practically indistinguishable from the real thing. Hand bags, especially expensive brand names such as Gucci, Louis Vuitton, and Chanel are extremely popular knockoffs and available for sale almost anywhere in China – from market places to shopping centers.

A $2000 handbag could potentially be bought for $200, looking identical to the smallest detail.

Another popular imitation would be Apple’s iPhone. The one on the right is fake and can be obtained for as low as $88.

But when it comes down to issues like these, it all depends on the buyer and whether they prefer quality over quantity or vice versa.

Nevertheless, not all knock offs in China are as flawless as the handbags. The many attempts to copy a product or service and try to make them look original by slightly changing the name has led to a lot of controversy, if not some laughs.

We’ve all seen at least one or more of the above logos. And chances are we’ve all been to one or more of these sites at least once today – one of them might even be open right now.

Traditional marketing strategies such as TV ads, flyers, and newspaper posts are still largely used by businesses today, but there is a new method that is becoming increasingly popular – social media marketing. This low-cost promotional method is an effective and efficient way of promotion that could easily be viewed by millions of passing visitors. Why is social media marketing so effective though? The main reason in my opinion, and in the opinion of many marketing experts, would be because it is EVERYWHERE.

How many times have you seen these icon around on the Internet?

Or a “follow us on” option at the bottom of the website?

The thing is, no matter where we go, we are exposed to these links and icons. And with a simple click of the mouse, it ultimately brings us back to a site that we visit oh-so-often, making us vulnerable again to the many ads and subliminal marketing tactics businesses post on these sites. If using social media is a cheap and effective way of marketing and the majority of the public is aware of this, then why don’t all businesses use it to their advantage? Stubborn businessmen continue to believe that traditional methods of marketing are the way to go and are unwilling to try new social media tools. But if a number of big brands are using Twitter and Facebook to build relationships and connections with the market, it might not be a bad idea for all businesses to start considering this option.