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?
Author: coolerinsights
Six Pixels of Separation: Book Review
Published in 2009, Mitch Joel’s book on business strategy in the age of social media titled Six Pixels of Separation is a laudable effort to tie in the disparate threads of the online world for those keen to experiment in this space.
Covering a broad expanse of concepts and ideas – from crowdsourcing, community building, content creation, to platform specific strategies – the book provided a good introduction to the world of social media and digital engagement.
Dynamic Pricing Secrets from Ticket Scalpers
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:
10 Truths Behind Tourists and Technology
Trail Kilkenny’s smartphone app is really smart – it doesn’t impose roaming costs to tourists
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.
How Far Can You Stretch Your Brand?
Not everybody can brand it like Bieber (courtesy of Entertainment Earth)
Brand extensions and brand stretching are commonly used by companies wanting to expand into new product categories. According to this source, they are defined as follows:
“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“.
Lessons from The Monk Who Sold His Ferrari
Are you tired of running the rat race? Wonder how you can better fulfill your life dreams and live more abundantly?
Part self help book, part fable, The Monk Who Sold His Ferrari by leadership guru Robin Sharma is a slim novel that packed powerful life and leadership lessons.
Transmedia Storytelling & Game Mechanics at the Libraries
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.
Book Review: Small is the New Big
Are you feeling the entrepreneurial (or intrapreneurial) itch lately? If so, Small is the New Big may be the right up your alley.
With 184 “riffs, rants, and remarkable business ideas”, Small is the New Big by uber marketing blogger Seth Godin is a collection of management mantras for entrepreneurs. Written in his usual snappy style, the book isn’t organised into sequential chapters. Instead, entries are written in an alphabetical manner without following any particular logic.
McDonald’s Reveals Its Restaurant Secrets
Considered the world’s largest restaurant chain serving 64 million customers daily, McDonald’s is probably the most pervasive fast food chain on the globe. Founded by Ray Kroc in 1955, McDonald’s worldwide generates some US$24 billion in annual revenue from more than 32,000 outlets (mostly franchisee and affiliate run restaurants).
Famed for its superior supply chain management, ultra-efficient service quality, lightning speed kitchens, and franchise business model, its ubiquitous golden arches is probably the most instantly recognisable brand symbol in the world. Here in Singapore, McDonald’s serves some five million customers a month from over 115 restaurants islandwide.
First established in 1979 with an outlet in Liat Towers (once the world’s best performing McDonald’s restaurant), the hamburger chain is encouraging members of the public to participate in its “Open Doors” global initiative. Since 2009, over 5,000 customers have participated in this programme, inclusive of a guided kitchen tour. I suppose this is a good initiative to combat some of the controversies surrounding the burger behemoth.
Lenovo Ups the Ante in Brand Marketing
Courtesy of Lenovo
Anybody following the global technology market would know how brutal it is. Battles for distribution channels, platform acceptance, supply chain efficiencies, and brand leadership have led to the spilling of blood on both Wall Street and Main Street. This has led to companies merging, being acquired, ousting their CEOs, or stopping their product lines altogether in desperate bids to survive and thrive.
Against such a backdrop, PC companies can ill afford to focus purely on features and benefits when marketing their electronic wares. They need to connect more deeply and resonate emotionally with their target audiences. Cool designs, functional specifications, and state-of-the-art features can be so easily copied that PC makers need to dig deeper.