This clip has an interesting observation about the value of grief and its role in exchange. The relevant scene comes at 3.35 mins into the clip.
This clip shows how public relations can be used to emotionally engage an audience and deliver specific marketing communication objectives for commercial organisations.
The stand out feature of this advertisement is that the focus is very much on the tourist experience, outside the hotel. It shows what being a tourist means to one person, how they derive pleasure from it and why they are loyal to the brand.
The link to Shangri-La is almost imperceptible, but it is clear. The advert shows the type of person who stays at the Shangri-La and there is enough video coverage of the hotel interior to show people what the quality of the hotel itself is like.
This is an interesting story about how shopping malls have been having a hard time in India. One of the reasons given by an industry commentator is that at the start of the mall development boom developers were too keen to sell units outright. No doubt they were attracted by the cashflow benefits and the chance to reduce the risk they faced in making a return on their investment. However this approach appears to have reduced the level of control they had over the tenants and as a result there have been problems for the management of the malls with owners not able to achieve the right mix of tenants or enforce policies on maintenance.
One of the issues around consumer and industrial marketing is their convergence (Wind, 2006) and a development which illustrates this, is commonly referred to as, 'bring your own device':
The following video provides more information about this development and its implication for business buyers.
A document published by the Treasury of the New Zealand government provides insights into the real life differences between firms who develop relationships with members of their supply chain, in contrast to those who pursue more arms length exchanges. Here is an extract, followed by a video produced by Toyota which provides more detail.
One of my favourite journal articles is, 'Service Quality, Trust, Specific Asset Investment, and Expertise: Direct and Indirect Effects in a Satisfaction-Loyalty Framework' by Jyh-Shen Chiou and Droge and published in the Journal of the Academy of Marketing Science in 2006.
I like the article because it takes the concept of specific asset investments, something that is most often applied in the context of business-to-business marketing, and the authors apply in to the context of high-end cosmetics. The following quotations from the article help to explain why they are so relevant:
In the matter of a few short sentences the writers have helped to explain the key characteristics of these goods using relevant marketing concepts. They make clear how these offerings are intangible (despite being goods) and their credence attributes are also highlighted. Even though the marketers are trying to enhance the search attributes of these products (via the computerised photos), it becomes clear that in such a situation trust becomes important because the need to believe the salesperson's promises.
The video below illustrates some of the ideas referred to in the quotation above.
Discussions about risk and trust feature in many of the courses that I teach. I like this scene where Daniel Day Lewis highlights the risks the townsfolk will face if they get someone else to drill for oil on their land.
He then explains why he is so much more trustworthy:
Watching Jiro in action you can see how a product (the sushi) can be supported by a service component. In this instance, where the sushi is made and handed over by Jiro, arguably the service component dominates. Without Jiro being there would the experience still be the same - even with a very similar physical product?
Nice little story about how the fledgling Keurig, the coffee pod manufacturer took advantage of having larger competitors at the start of their product lifecycle. It's also a good illustration of the complementary nature of the promotion mix and how they can influence the different stages of the hierarchy of effects.
This is how we are used to seeing Iceland:
This is how Icelandair prefers to show Iceland in relation to Europe and north America:
This is an interesting take on clothes shopping. The retailer works on a subscription basis and for US$60 they will send customers a selection of clothes. The target market is men, who don't like to waste time shopping. Benefit for the company is that they have 'loyal' customers guaranteed.
Just as the beef patties have come under scrutiny for whether or not they really have 100% beef, so the same criticism has been made about the fast food restaurant's eponymously named homes. These are located close to hospitals and are short-term residences for families wanting to live close to their children, who are ill.
Ronald McDonald Houses for Children are held up by the fast food restaurants as their contribution towards social responsibility. However their efforts have drawn criticism:
Rogers (1995) identified the role of product characteristics in determining the successful diffusion of products into the market. The characteristics were: relative advantage; compatibility; complexity; trialability; observability. Meuter et al (2005, p.81) writing in the Journal of Marketing provided some of the measures that can be used to assess each of these. For example, respondents were asked about trialability using the following questionnaire items:
- I can use the [innovation] on a trial basis to see what it can do.
- It is easy to try out the [innovation] without a big commitment.
- I’ve had opportunities to try out the [innovation]
In contrast observability was measured in the following way:
- I would have no difficulty telling others about the results of using the [innovation].
- I believe I could communicate to others the outcomes of using the [innovation].
- The results of using the [innovation] are apparent to me.
ith innovations such as the Copenhagen wheel (see video below) it can be interesting to assess how they rate using the criteria such as the ones above.
There's an increasing number of concepts around the notions of co-production and co-creation. The following matrix helps provide a useful map to navigate between them. The matrix distinguishes between the concepts according to whether they are consumer led or producer led and whether the value being generated is standardised across customers or personalised for the individual.
The complete report from which it is taken is here: