Dear Professor and Class,
In DB - Redesigning Value, the focus of the discussion was on the challenges faced by organization when entering a new market or a segment. As each market is different in term of social, political, culture, economical and environmental, organizations had to make alter their international strategy and marketing strategy including its operations to cater to the needs of the new market in order to succeed. There were many interesting example as illustrated by peers in term of changing an organization marketing strategy and mix like price and products to foray into markets like China and India that were culturally, economically and politically different from many western countries.
In this DB, I have highlighted that companies often have to make changes in three core areas like consumption context of their product, its payment or exchange model, or its value proposition to the customer. I have quoted an example of my organisation where it has to modify its products and pricing in order to pursuit targeted segment in the China market that include renovating its offering in term of value proposition to the customers.
In DB - Relationship between Different Functions, the discussion focus on how non-performance of a business unit can lead to bad experience by customers that affect marketing effort. This discussion attempted to address this issue by identifying some of the key marketing tasks that could be adopted to avoid such a situation. Like many peers, I have illustrated how marketing and IT department should collaborate closely to prevent disgracing moment to the company and customers. Apart from IT, many peers have cited issues with their production, logistic and distribution systems for not been able to deliver their goods and services on a timely basis due to lack of collaboration and communication with the marketing department. Thus, I have highlighted that cross-functional integration is vital to the success of a marketing function and good customer experience.
In DB - Technology and Consumerism, the discussion was focused on how automated software can change the way information between providers and users are exchanged. Many peers have demonstrated how automated software have increased the efficiency and productive of their call centre at the same time reducing cost and improving knowledge based management. Some peers have highlighted that if automated application was applied in the wrong place, it could cause overall customer dissatisfaction against the organization products and services. Thus, in this DB, I have highlighted that no matter how good the technology, certain groups of people may not like this type of automation. Organisations adopting auto-response technology must be flexible to allow customers to choose whether or not to use it by making it easy for customers to reach live call center agents from any point in the application.
The next segment of this discussion was on how mobile technology advancement and technological breakthroughs could change the way business been conducted in term delivering faster services and responding faster to customers needs. Generally most peers like myself agreed that it can improve collaboration and efficiency among people and business. Many interesting and creative ideas were proposed and highlighted in this discussion which I thought was very intuitive and interesting.
In DB - Creating and using customer insight, the focus was on how organization can effectively create and use customer insights from existing data and application to maintain a firm competitive advantage. The twelve rules of customer insights and value were highlighted and illustrated by peers based on his/her industries. The other segment of this DB was on applying the data-to-value cycle. In this segment, peers have mentioned about CRM and Datawarehousing been implemented to capture tacit knowledge in order to better analyse customer value and creation that were most profitable to the organization. In this DB, I have highlighted that a high quality process must be in place to determine what consumer insight it needs and does not need. This should comprise of integrated effort on the operational process in order for organization to target how to use those insights. Through the use of customer insights, it enabled organization to design products that meet the needs of identified consumers quickly and accurately. Coupled with the rest of the function and process from various departments, it can help to create and maintain a competitive edge for the firm. I have quoted Tesco in my discussion to illustrate how it used insights to modify its positioning to compete effectively with competitors like Boots and Mothercare for baby products.
In DB - Google and Yahoo Educate Marketers About Testing, the discussed was focused on the types of products or services that are suitable for online testing. Furthermore, peers were asked to suggest ways to test online advertisement. As mentioned by peers, many products and services can be tested online although some peers mentioned that products that need physical feel, smell and touch might not be suitable. This includes low value items. Nevertheless, I felt that the main important consideration about online ads was to create brand awareness and new products launched including its features. It was never meant to replace any physical aspect of the purchases like in the case of car and car showroom. There were mentioned of several models to measure the effectiveness of online ads by peers like simulated network or saccadic visual activity. There were many suggestions by peers on alternative testing method like A/B split testing among others. There were also proposal like conducting test on social networking sites, blogs and mobile phones.
In this DB, I have highlighted that marketers should be targeted at improving conversion and ensuring qualified traffic arrives on the organization site. Thus, when an organisation creates products or services online where visitors must navigate, it should be tested, measured, and optimised. The organisation needs to know whether the assumptions that went into creating its site meet the needs and expectations of its audience. More important, it needs to know how to optimise its system so it can market more effectively. In this DB, I have used Amazon.com as an example on how it has persistently tested its sites to foster better user experience. For alternate online test, I have suggested using persona creation or profile and scent as a testing framework. Together both processes can better lead customers to where you want them to go to achieve marketers objectives.
Online advertising is more than a decade now and has in some ways secured its rightful place in the media mix. Companies have realised how critical they were in maintaining a presence online toward building their brand, creating engagement, and improving sales. However, despite the fact that the internet has moved from media planning afterthought to line item, much of the promise of online advertising remains unfulfilled.
In DB - What End Values Do You Seek?, the focus of the discussion was based on the concept of means-end chain model that identified the product attributes, benefits and value customers sought from a purchase. Many peers have clearly illustrated their preference for certain products and brand and the attributes over the others like car make and model, computer, LCD and mobile phones etc, which peers perceived to derive the best value. In this DB, I have illustrated an example of my purchase over a stereo amplifier that has attributes that distinguished more desired from less desired alternatives and how the benefits and value was derived from it.
Suresh Ramaurthy on his posting on “End Values I sought”. In this posting, Suresh has created a table that clearly illustrated the product attributes, benefits and value among the three cars of his choice which I thought was comprehensive, informative and intuitive that allows one to appreciate the application and value of means end chain model.
Wang Yong on his posting on “Relationship between Different Functions”. Been in the IT industry, I fully comprehend the issues between IT department (cost centre) against other department particularly those profit centre department. Nevertheless, the posting was interesting, factual and raise an important issues which I felt very important that each department should work closer together to meet customer expectation and achieve profitability regardless of each role.