Which Korean noodle would you choose and why? (source of image)
What is the most important marketing strategy for FMCG products?
Is it developing a strong brand? Advertising on TV, radio and newspapers? Embracing social media and citizen marketing? Or all of the above?
If only pricing strategies are this simple (courtesy of Zimbio)
In a fascinating podcast with pricing consultant Rafi Mohamed, author of The 1% Windfall: How Successful Companies Use Price to Profit and Grow, Harvard Business Review unveiled some pricing strategies from the grey market resellers of tickets. These ticket scalpers normally sell their wares on eBay, craigslist or other auction platforms, hopefully to generate a profit (or reduce their losses).
The scalping market in the US is huge, generating about US$3 billion of sales a year and resulting in loss of revenue to event organisers. There are four characteristics defining this market:
Recently, I participated in a briefing comprising Singapore’s attractions industry and technology companies. The idea was for these IT and web solution providers to develop industry-wide initiatives that can boost productivity, marketing and visitor experience for museums, zoos, theme parks, aquariums, and other attractions.
As the session went on, I realised that there is a gap between what technology vendors wanted to pitch for and what tourists may be willing to embrace. The differences can be rather shocking at times.
Not everybody can brand it like Bieber (courtesy of Entertainment Earth)
“Brand extensions refers to the use of a successful brand name to launch new or modified products in a same broad market“ while “brand stretching refers to the use of an established brand name for products in unrelated markets“.
While borrowing a book recently at the Central Public Library (basement of the National Library), I came across this neat display tying in the bestselling A Song of Ice and Fire book series by author George R.R. Martin with the acclaimed HBO TV series Game of Thrones. Its nice to see our libraries transforming into experience rich learning zones with elements of Transmedia Storytelling to promote reading and literacy.
While dovetailing with a popular TV series is a good way to drive adult reading interests, incorporating a gaming challenge helps to pique the interest of kids or tweens. Here, the library has created a B.C.A. (Books Come Alive!) Sleuth Academy where “young detectives” are tasked to solve “mysteries” and uncover clues in their local community library.
Courtesy of Fair Loan Rate
There is an old management adage which says that “you cannot manage what you cannot measure”. This saying may be true in all parts of a company, but is especially pertinent in finance.
We’ve read so much about companies and businesses going under due to poor financial management. By chasing after relentless growth – at all costs – they have gone beyond their abilities to pay spiralling bills to suppliers, employees, and financiers. Other than indiscriminate borrowing, the other “sins” of the leadership and boards of these firms are their failure to respond to the true financial picture of their organisations.
Ebenezer Scrooge may have more company this Christmas (image source)
Penny pinchers. Value-for-money shoppers. Bargain bin hunters.
Call them what you may, thrifty consumers have been around since time immemorial. The recent economic onslaught and accompanying rise in inflation will likely increase this group of discount shoppers. In a cash and job strapped situation, everybody – rich and poor alike – will pay more attention to their wallets.
There is nothing quite like a trip to Bangkok to revive, refresh and rejuvenate one’s jaded senses. From ultra-modern shopping malls, colourful street markets, health giving spas, larger-than-life shows to fabulous culinary delights, one is never spoilt for choice. Indulgence became our middle names as we soaked in the Sun – and rain – splashed pleasures of Asia’s “Sin City” during a short 3 Day 2 Night trip there.
What can one do in this city that never sleeps? Plenty of course! Let me count the ways…
Courtesy of Alex Steffen
Is there hope for our planet as the world population continues to explode? What measures can cities do to reduce their resource and energy use, narrow their carbon footprints, and give our planet a fighting chance for survival?
In a recent TED video, Journalist and sustainable activist Alex Steffen unveiled some surprisingly effective solutions to the climate change problem. Founder of the online magazine Worldchanging.com, Steffen proposed a couple of “cool” solutions and ideas that urban planners can consider:
Unfortunately, most of us do not have 8 arms (Source of image)
In “Productivity Secrets of a Very Busy Man“, Bob Posen, a senior lecturer at Harvard and executive chairman of a major investment firm, offers some great tips. Other than holding down two jobs, Posen sits on a few boards and manages to write a couple of articles a year.