Thought of the Day

" When we fill our thoughts with right things, the wrong ones have no room to enter."

Can Social Media be used to develop new products and Monitor brands?

Facebook recently overtook the United States as the third most populous country in the world. At 700 Million users, Facebook today is one of the largest networks and continues to grow. At the same time many other social networks have been growing, prominent among them are LinkedIn, Twitter and the recently launched Google +.

These networks are sources where a lot of people exchange ideas, comments and opinions. This is a lip smacking opportunity for most business to listen to what their customers and prospects are saying about them and the competition. But not too much effort has been made in this direction.

If we break it down, Social Media analytics can be used for two three main activities

Brand Monitoring - It is important for most organizations to monitor the social networks and hear what is being said about them. Often consumers vent their frustration on a product or service to a friend or colleague on the network. I know this incident when a major hospitality chain in India had gone back on a commitment one of my connections on Twitter. The connection had tweeted the same to her network on Twitter and within minutes the representatives from the chain called my contact and resolved the issue. Also Social Networks are useful tool for Brand Development to help solve any problems that people raise on the networks.

The human factor in service design

Focus on the human side of customer service to make it psychologically savvy, economically sound, and easier to scale.

Poor customer service isn’t a headache just for consumers; it’s a problem that vexes senior managers too. Balancing the trade-offs between the cost of services and the customer experience benefits they provide is difficult. Ensuring that frontline workers can efficiently and consistently execute service offerings across a far-flung organization is harder still. Along the way, many companies lose sight of what makes human beings tick—for instance, by overlooking well-known principles of behavioral science when delivering services—and thus unwittingly predispose customers to dissatisfaction.

At the same time, the customer service landscape is changing as social media and new mobile phone technologies give companies unprecedented access to data on customer interactions, while the technologies are changing the nature of the interactions themselves—for example, by amplifying the speed and impact of customer complaints.

Hierarchy of systems for developing sustainable processes in your organizations/ business

In any organization , there is a system which produces the results and we people manage those already created  system.

The hierarchy is composed of four components for the same system -

The first one is - "How We do it Here"
The second is - "How We Recruit, Hire and Train People to do it Here"
The third is - "How We Manage it Here"
The Fourth is - "How We Change it Here"

And the "It" I am referring is the stated purpose of your organization/ business".

Business Quiz

Q 1. What is the popular name for the UN conference on development and sustainability being held in Rio De Janeiro called ?

Q 2. What is a John Doe order in the context of Internet piracy ?

Q3. Why have the top 11 cement makers been imposed a huge penalty by Competition commission ?

Q4. Which industrialist MP tops the list of LPG consumers in New Delhi as per a recent report launched by Oil marketing cos. ?

Q5. Who is the new CEO and MD of Tata Global Beverages ltd ?

Q6. What is the new brand name of Yves Saint Laurent ?

Q7. In which country they have a vending machine activated by a Tweet that dispenses a cup of  ice tea ?

Q8. Name the luxury division of Nokia which has been sold off recently to generate cash for the beleaguered company.

Q9. What is the name of the Tablet announced by Microsoft ?

Thought of the Day

“Rowing harder doesn’t help

if the boat is headed in the wrong direction.”

How to Win the Third and Forth Market for Brand Adidas

As we know, Adidas is a very famous trademark in the world. It produces many kinds of good products. No matter you like playing football, basketball or other things, you can choose suitable Adidas's products. It is necessary to keep the good market situation. Moreover, we will make efforts to seek for new markets for Adidas. We must increase the market share of Shamrock brand. It can enhance the confirmation of brand and increases Adidas's market share. NEO is one branch of Adidas and it is a new design. It mainly offers the products for the young men who are 14 to 19 years old. Its style is very suitable to the young. The price is about half of the Clover brand. Compared with the local sports brands, it is more expensive. Many young people like its products and are willing to buy them. So, Adidas wants to enter into the third and fourth market of China.

Adidas Company must take a good marketing plan to get the third and forth market. However, the logistics cost is a big peoblem. But Colin thinks that the logistic cost is not Adidas's specific problem. In fact, the whole industry of clothes is facing the problem of high cost. We are making efforts to solve this problem. In a world, logistics cost is one factor of these problems. But, we must know our directions and responsibilities. We should provide high-quality products and appropriate stores. In addition, the price must be suitable. Chinese people's needs are very important for Adidas Company. Therefore, the company must take the customers' needs into account. We can not ignore our situations when we pay attention to the customers' requirements.

Colin thinks that satisfying the customers' needs is the most important for Adidas Company. Many efforts that we made are to satisfy the customers' needs. In order to compete with other rivals, we must make new products and unite with others. In addition, we always draw the customers' attention and good opinions through the most stirring and influential sports activities. So the customers will impress on the products of our company.

Thought of the Day

“Never, never,
be afraid to do what’s right,
especially if the well-being of a person or animal is at stake.
Society’s punishments are small
compared to the wounds we inflict on our soul
when we look the other way.”

Consumer connect is key

With a generation obsessed with mobile phones and new technology, the question uppermost on everyone's mind probably is - to borrow a phrase from Samsung - Next is What? That also sums up the way Sumsung has been stoking the consumer's curiosity before every big launch.

So months before the Samsung Galaxy Note was launched launched in India on November 2, 2011, the company set the ball rolling in the media. Looking back at the strategy, Ranjit Yadav, country head, mobile & IT, Samsung, says a number of things came together to make the launch successful. For the first time in India, Samsung conducted a multi-city event on the same day and at the same time to announce the launch. While the main event was hosted in New Delhi, audiences in Mumbai and Chennai were connected via video conference. This was followed by on-ground consumer events at variousmalls across the country wherein the audience was given the opportunity to playaround with the S Pen and explore the smartphone's potential.

Right after launch, Samsung opened up more than 7 million contact points for customers to experience the product. "Samsung created various touch points for consumers across key centres in India through multiple platforms - shopping malls, theatres, corporate parks etc. Consumers appreciated the experience and the smartphone's on the go usability," says Yadav. Table-top demonstrations at its new retail format, the Smartphone Cafes, with provided an effective, interactive platform for consumers to touch and feel the Note.

Yadav says the Galaxy Note opened up a new category in the mobile industry. So there was an added need to educate consumers in India about the product and its applications. "In order to highlight the device's ability to enhance mobile communication, Samsung executed an aggressive marketing strategy. Our aim was to reach out to the largest audience and educate them about this product - one that offers a more advanced, productive and creative user experience than ever before." The television commercial of the Galaxy Note demonstrated the key features of the device and the ground events were aimed to give potential consumers a chance to experience the product.

However it was the product and its key selling proposition that attracted the attention of the consumers. While the device was launched at Rs 34,990, it is now available for Rs 33,690. While the online sphere went abuzz with reviews and discussions on Smart Pen feature, ChatON (its global mobile communication service) etc, consumers were given a first-hand feel of the product's 5.3-inch HD display, processor speed and applications while holding it close. With its processor speed, the Galaxy Note users were able to stream videos real-time or engage with friends through online gaming platforms, facilitated through its game hub.

The buzz Samsung generated at the time of the launch of Galaxy Note was 'phenomenal', says Yadav. Ramanujam Sridhar, founder CEO, brand-comm says the kind of word-of-mouth publicity the Galaxy Note enjoyed made a significant difference soon after its launch. "It's a category that has high involvement - the consumer's knowledge and awareness of mobile phones as a category and that of individual models is very high," he adds.

Finance Glossary

Walking Papers: Also called Walking Ticket. A notification of dismissal from a job.


Wet Lease: An arrangement in which an airline leases an aircraft, complete with crew, insurance, etc., to another company, usually for a short period of time.


White Collar Crime: An illegal act such as fraud, embezzlement, bribery, etc., committed by a worker in business or administrative function.