Digital Marketing Teigland
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Presentation for an introductory course on digital marketing for the Marketing II course at the Stockholm School of Economics
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Digital Marketing Teigland
- 1. Digital MarketingDigital Marketing Dr. Robin TeiglandDr. Robin Teigland Stockholm School of EconomicsStockholm School of Economics robin.teigland@hhs.serobin.teigland@hhs.se www.knowledgenetworking.orgwww.knowledgenetworking.org www.slideshare.net/eteiglandwww.slideshare.net/eteigland
- 2. 2 Background to digital marketingBackground to digital marketing Reshaping the marketing mixReshaping the marketing mix – 4Ps– 4Ps From OGC to UGCFrom OGC to UGC Stepping into the internet – A look at VWsStepping into the internet – A look at VWs Digital marketing implementationDigital marketing implementation Benefits and challenges of digital marketingBenefits and challenges of digital marketing Guest speaker – Marketing by MySpaceGuest speaker – Marketing by MySpace Today’s discussionToday’s discussion
- 3. What is digital marketing?What is digital marketing? The application of digital technologies that form channels toThe application of digital technologies that form channels to marketmarket…… − Internet (2D to 3D)Internet (2D to 3D) − Mobile communicationsMobile communications − Interactive televisionInteractive television − Interactive traditional media (billboards, print)Interactive traditional media (billboards, print) − WirelessWireless ……....to achieve corporate goals through meeting andto achieve corporate goals through meeting and exceeding customer needsexceeding customer needs better than the competitionbetter than the competition.. Adapted from Jobber 2007Adapted from Jobber 2007 3
- 4. 4 Did You Know: Shift HappensDid You Know: Shift Happens http://www.youtube.com/watch?v=pMcfrLYDm2Uhttp://www.youtube.com/watch?v=pMcfrLYDm2U How are these trends affecting theHow are these trends affecting the traditional marketing mix?traditional marketing mix?
- 5. Key elements of the digital ageKey elements of the digital age Jobber 2007Jobber 2007 5
- 6. Previous generations born into hierarchy •Family •Schools •Society •Work •Religion Connected – born digital Autonomous – make own decisions Multitasking DesAutels 2008DesAutels 2008 6 Gen-Y
- 7. Increasing number of digital mediaIncreasing number of digital media 7JP Allen 2009www.webguild.org
- 8. 6 degrees of separation Milgram 1967, DesAutelsMilgram 1967, DesAutels
- 9. Traditional marketing vs digital marketingTraditional marketing vs digital marketing 10 http://adultaddstrengths.com/2008/11/05/obama-vs-http://adultaddstrengths.com/2008/11/05/obama-vs- mccain-social-media/mccain-social-media/
- 10. OBAMA dot GOVOBAMA dot GOV BarakBarak − Lessig callLessig call DesAutels 2008DesAutels 2008
- 11. 12 Background to digital marketingBackground to digital marketing Reshaping the marketing mix – 4PsReshaping the marketing mix – 4Ps From OGC to UGCFrom OGC to UGC Stepping into the internet – A look at VWsStepping into the internet – A look at VWs Digital marketing implementationDigital marketing implementation Benefits and challenges of digitalBenefits and challenges of digital marketingmarketing Guest speaker – Marketing by MySpaceGuest speaker – Marketing by MySpace Today’s discussionToday’s discussion
- 12. Reshaping the marketing mixReshaping the marketing mix Jobber 2007Jobber 2007 13
- 13. Digital marketing mediaDigital marketing media Internet (2D and 3D, virtual worlds)Internet (2D and 3D, virtual worlds) Mobile communicationsMobile communications WirelessWireless Interactive televisionInteractive television Interactive billboards and printInteractive billboards and print Adapted from Jobber 2007Adapted from Jobber 2007 14
- 14. Reshaping priceReshaping price 15 TransparentTransparent FlexibleFlexible DynamicDynamic Jobber 2007Jobber 2007
- 15. Reshaping placeReshaping place 16 Global, virtual, & always onGlobal, virtual, & always on •Distance no longer a costDistance no longer a cost •Business location irrelevantBusiness location irrelevant •24/7 real-time trading24/7 real-time trading Sear’s online catalogueSear’s online catalogue Jobber 2007Jobber 2007
- 16. Reshaping placeReshaping place 17 IBM’s Green Data CenterIBM’s Green Data Center in Second Lifein Second Life
- 17. Reshaping promotionReshaping promotion 18 Permission-basedPermission-based Instantaneous – real timeInstantaneous – real time InteractiveInteractive Jobber 2007Jobber 2007
- 18. 19 Personalized British Airways Trip Guide Personalized with customer name Direct link to “My booking” area of BA.com Search fields pre- populated with customer travel dates and destination Customized destination information including sightseeing and airport info Source:Chaffey 2009Chaffey 2009
- 19. Reshaping promotion - InteractivityReshaping promotion - Interactivity 20 www.mobilitysite.comwww.mobilitysite.com www.bbc.co.uk/www.bbc.co.uk/ ConvergenceConvergence of technologiesof technologies
- 20. Reshaping promotion - InteractivityReshaping promotion - Interactivity Interactive ads in traditional print mediaInteractive ads in traditional print media − Augmented reality, mobile phonesAugmented reality, mobile phones − http://www.youtube.com/watch?v=RsZTbIjLHNA&feature=relatedhttp://www.youtube.com/watch?v=RsZTbIjLHNA&feature=related (zoo)(zoo) − http://www.youtube.com/watch?v=S-G8u-01t0k&feature=PlayList&p=46ED12AC63B128FC&http://www.youtube.com/watch?v=S-G8u-01t0k&feature=PlayList&p=46ED12AC63B128FC& (car)(car) Interactive billboardsInteractive billboards − Video, mobile phonesVideo, mobile phones − http://www.youtube.com/watch?v=BK7qfpvod2w&feature=relatedhttp://www.youtube.com/watch?v=BK7qfpvod2w&feature=related (Shanghai)(Shanghai) − http://www.youtube.com/watch?v=5-bNZRAypgQ&feature=PlayList&p=CDD9F931D4215694http://www.youtube.com/watch?v=5-bNZRAypgQ&feature=PlayList&p=CDD9F931D4215694 (Nokia)(Nokia) Interactive video advertisementsInteractive video advertisements − Video, internetVideo, internet − http://www.youtube.com/watch?v=tJrq-ZwBehA&feature=PlayList&p=B74C1DB8C72A381E&http://www.youtube.com/watch?v=tJrq-ZwBehA&feature=PlayList&p=B74C1DB8C72A381E& (Volvo)(Volvo) 21
- 21. Viral marketingViral marketing Encourages users of product or service suppliedEncourages users of product or service supplied by business to encourage friends to join in asby business to encourage friends to join in as wellwell Haag & Cummings 2008Haag & Cummings 2008 www.bluemountain.comwww.bluemountain.com 1) Send card1) Send card 2) Card has link so other2) Card has link so other person can send cardperson can send card 22
- 22. Reshaping productReshaping product 23 IndividualizedIndividualized CustomizedCustomized DigitalizedDigitalized But this is only theBut this is only the beginning….sobeginning….so much more to come!much more to come!
- 23. 24 Background to digital marketingBackground to digital marketing Reshaping the marketing mixReshaping the marketing mix – 4Ps– 4Ps From OGC to UGCFrom OGC to UGC Stepping into the internet – A look at VWsStepping into the internet – A look at VWs Digital marketing implementationDigital marketing implementation Benefits and challenges of digitalBenefits and challenges of digital marketingmarketing Guest speaker – Marketing by MySpaceGuest speaker – Marketing by MySpace Today’s discussionToday’s discussion
- 24. Shifting sources of valueShifting sources of value Open business modelOpen business model − Competitive advantage through leveragingCompetitive advantage through leveraging external resourcesexternal resources (Chesborough 2003)(Chesborough 2003) − Permeable organizational boundariesPermeable organizational boundaries − Redefinition of acceptable sources of value andRedefinition of acceptable sources of value and knowledgeknowledge Potential sources of valuePotential sources of value − Users as organizational resourceUsers as organizational resource (von Hippel 1988,(von Hippel 1988, 2005)2005) − User interactions with organizations creates valueUser interactions with organizations creates value through user-generated contentthrough user-generated content (Di Gangi & Wasko(Di Gangi & Wasko forthcoming)forthcoming) Di Gangi 2008Di Gangi 2008 25
- 25. Moving towards the experience economyMoving towards the experience economy Gilmore & Pine 1999, Prahalad & RamaswamyGilmore & Pine 1999, Prahalad & Ramaswamy
- 26. 28 Crowdsourcing:Crowdsourcing: Capturing the wisdom of crowdsCapturing the wisdom of crowds What is it?What is it? − Customer participation in business andCustomer participation in business and business developmentbusiness development Why the interest?Why the interest? − ExperienceExperience − OwnershipOwnership − EngagementEngagement − LoyaltyLoyalty Brayrie 2007Brayrie 2007
- 27. Content created by a user to be used by a userContent created by a user to be used by a user From organization-generated content (OGC) toFrom organization-generated content (OGC) to user-generated content (UGC)user-generated content (UGC) Content created by an organization to sell to a userContent created by an organization to sell to a user Di Gangi 2008Di Gangi 2008 29
- 28. An anthropological intro to YouTubeAn anthropological intro to YouTube 30 Three US TVThree US TV NetworksNetworks is less than…is less than… YouTubeYouTube Wesch 2008Wesch 2008
- 29. Rapid growth of UGC Web SitesRapid growth of UGC Web Sites Organizations increasingly introducing UGC websitesOrganizations increasingly introducing UGC websites (e.g., social networking, electronic communities) as(e.g., social networking, electronic communities) as organizational resourcesorganizational resources Deloitte 2008, DiGangi 2008Deloitte 2008, DiGangi 2008 31
- 30. Why are organizations using UGC websites?Why are organizations using UGC websites? Deloitte 2008Deloitte 2008 32
- 31. The Pink Community – Victoria’s Secret DesAutels 2008DesAutels 2008
- 33. Motorola Q – Creating contentMotorola Q – Creating content 35
- 34. 36 Examples at DellExamples at Dell Brayrie 2007Brayrie 2007 Self-supportSelf-support ProductProduct developmentdevelopment
- 35. eZ Systems and the eZ ecosystem:eZ Systems and the eZ ecosystem: An open source business modelAn open source business model 3737 eZeZ PartnersPartners CommunityCommunityCustomersCustomers •#1 open source content management software#1 open source content management software •Enterprise open source – “Grow the cake”Enterprise open source – “Grow the cake” •60 Employees in 8 countries (Europe & Asia)60 Employees in 8 countries (Europe & Asia) •230+ Partners230+ Partners •5000+ Customers5000+ Customers •30,000+ Community members30,000+ Community members www.ez.nowww.ez.no Skien, NorwaySkien, Norway
- 37. 39 Background to digital marketingBackground to digital marketing Reshaping the marketing mixReshaping the marketing mix From OGC to UGCFrom OGC to UGC Stepping into the internet – A look at VWsStepping into the internet – A look at VWs Digital marketing implementationDigital marketing implementation Benefits and challenges of digitalBenefits and challenges of digital marketingmarketing Guest speaker – Marketing by MySpaceGuest speaker – Marketing by MySpace Today’s discussionToday’s discussion
- 38. 4040 Within five years, theWithin five years, the 3-D3-D Internet will be asInternet will be as importantimportant for work as thefor work as the Web is today.Web is today. January 2008January 2008 By the end of 2011,By the end of 2011, 80 percent80 percent of active Internet users (andof active Internet users (and Fortune 500 enterprises)Fortune 500 enterprises) willwill have a “second life”, but nothave a “second life”, but not necessarily in Second Life.necessarily in Second Life.Steve PrenticeSteve Prentice GartnerGartner
- 39. 4141 Towards 3-D internetTowards 3-D internetLevelofInteraLevelofIntera TimeTime IndividualIndividual -- Web 1.0 ThinkingWeb 1.0 Thinking Mosaic, Prodigy,Mosaic, Prodigy, Compuserve, AOL,Compuserve, AOL, NetscapeNetscape ConnectedConnected Web 2.0 ThinkingWeb 2.0 Thinking Facebook, Friendster,Facebook, Friendster, Yahoo, Blogger,Yahoo, Blogger, Wikipedia, eBay,Wikipedia, eBay, Typepad, LinkedIn.Typepad, LinkedIn. Amazon,Amazon, MySpace,MySpace, Textamerica,Textamerica, Delicious, HubPagesDelicious, HubPages SENSORYSENSORY 3D Internet3D Internet ThinkingThinking SecondLife, ActiveSecondLife, Active Worlds, There,Worlds, There, SimsOnline, ClubSimsOnline, Club Penguin, World ofPenguin, World of Warcraft, 3DWarcraft, 3D planets, ToonTown,planets, ToonTown, Habbo, VSlide,Habbo, VSlide, ProtosphereProtosphere
- 40. No financial crisis in VWs?No financial crisis in VWs? Increasing membersIncreasing members Increasing companiesIncreasing companies Increasing turnoverIncreasing turnover Wonderland 4242
- 41. 4343 Releasing new productsReleasing new products ToyotaToyota •Launches real and virtual products simultaneouslyLaunches real and virtual products simultaneously •Enables avatars to customize vehicles in SLEnables avatars to customize vehicles in SL
- 42. 4444 Co-creating solutions for today…Co-creating solutions for today… Philips Design GroupPhilips Design Group Lead-user innovation workshopsLead-user innovation workshops
- 43. 45 ……as well as for tomorrowas well as for tomorrow HSB: Building the house of the futureHSB: Building the house of the future in a competition with KTH and Chalmersin a competition with KTH and Chalmers architecture studentsarchitecture students
- 44. 464646 Increasing effectiveness inIncreasing effectiveness in traditional industriestraditional industries “Soon all fashion designers will be originating their designs and managing the production in virtual worlds….Why such a dramatic change? Economics, pure and simple.” Shenlei Winkler, Director Fashion Research Institute
- 45. 3D internet3D internet 47 Before the first plate of aluminum is ever bent for production, the pilots and the passengers will have flown the plane and the crew will have serviced the plane. CEO of Boeing supplierCEO of Boeing supplier
- 46. 780,000 users USD 400 mln turnover 2007
- 47. Entropia Universe by MindArkEntropia Universe by MindArk Ability to develop skills and sell virtual goodsAbility to develop skills and sell virtual goods − Island sold for USD 26,500 in 2004Island sold for USD 26,500 in 2004 − Asteroid space resort sold for USD 100,000 in 2005Asteroid space resort sold for USD 100,000 in 2005 − Clothes Against Violence – limited edition virtual jackets soldClothes Against Violence – limited edition virtual jackets sold for more than same model of real world jacketsfor more than same model of real world jackets Virtual universe with real cash economyVirtual universe with real cash economy − Fixed exchange rate to US Dollar, 1 USD = 10 PEDFixed exchange rate to US Dollar, 1 USD = 10 PED − Five banks auctioned for USD 404,000 in 2007Five banks auctioned for USD 404,000 in 2007 − Real life bank license granted by SwedishReal life bank license granted by Swedish Government to MindArk Bank in March 2009Government to MindArk Bank in March 2009 A business model like the real worldA business model like the real world − Raw materials and skills needed to buildRaw materials and skills needed to build − Goods deteriorate and need to be replenishedGoods deteriorate and need to be replenished 49
- 48. China is making big efforts in virtual worlds!China is making big efforts in virtual worlds! •““Virtual economy district – aVirtual economy district – a world where millions will work,world where millions will work, communicate, and be in love”communicate, and be in love” •Reaching out to the 150 mlnReaching out to the 150 mln overseas Chineseoverseas Chinese •7 million inworld at same time7 million inworld at same time •Ability to borrow money toAbility to borrow money to finance operations throughfinance operations through Mind BankMind Bank www.crd.gov.cn, www.foreignpolicy.com “The real China is only a piece of land. We believe that there must be a China in the virtual world and the real world.” Robert Lai, Chief Scientist, CRD 5050
- 49. 52 Background to digital marketingBackground to digital marketing Reshaping the marketing mix – 4PsReshaping the marketing mix – 4Ps From OGC to UGCFrom OGC to UGC Stepping into the internet – A look at VWsStepping into the internet – A look at VWs Digital marketing implementationDigital marketing implementation Benefits and challenges of digitalBenefits and challenges of digital marketingmarketing Guest speaker – Marketing by MySpaceGuest speaker – Marketing by MySpace Today’s discussionToday’s discussion
- 50. Reshaping the marketing mixReshaping the marketing mix Jobber 2007Jobber 2007 5353
- 51. Stages in digital marketing planningStages in digital marketing planning Jobber 2007Jobber 2007 1.1. What are the drivers?What are the drivers? 2.2. What is the environment?What is the environment? 3.3. What is the objective?What is the objective? 4.4. How can you create superior value?How can you create superior value? 5.5. How should activities be integrated?How should activities be integrated? 6.6. What competencies are needed? Etc.What competencies are needed? Etc. 7.7. What should be measured?What should be measured? 5454
- 52. Marketing audit and SWOT analysisMarketing audit and SWOT analysis Customer connectivityCustomer connectivity Customer channel usageCustomer channel usage Results generated onlineResults generated online Marketplace impactMarketplace impact Jobber 2007Jobber 2007 5555
- 53. Marketing objectives and strategyMarketing objectives and strategy How to create competitive advantage?How to create competitive advantage? -- Lower pricesLower prices - Lower costs- Lower costs - Improved service quality- Improved service quality - Greater product variety- Greater product variety - Improved product customization- Improved product customization Jobber 2007Jobber 2007 5656
- 54. Match the tool to the purposeMatch the tool to the purpose Tool Purpose Example Blogs Conversation Relationship building Information sharing Getting customer feedback Facebook governance Discussion forums Self-support Problem solving Customer engagement Dell Wikis Collaboration Customer engagement Motorola Q Social networking sites Community development Relationship building Customer loyalty Viktoria’s Secret Jeep Virtual worlds Collaboration Innovation Engagement Nokia Philips IBM 57
- 55. 58 Serena Software – An integrated approachSerena Software – An integrated approach •#1 Applications Lifecycle Management (ALM) & business mashup •96 of Fortune 100 as customers •800 employees in 18 countries across globe •One hour every Friday to Facebook to find fun and connect with co-workers, customers, family, and friends •YouTube, Facebook, Homepage http://video.forbes.com/fvn/cmo/serena-social-network-strategy
- 56. Assessing digital competenciesAssessing digital competencies Jobber 2007Jobber 2007 5959
- 57. 60 Tools for assessing your capabilitiesTools for assessing your capabilities Download from: http://www.davechaffey.com/Internet-Marketing/C4-Strategy/benchmark-your-internet-marketing-strategy Chaffey 2009Chaffey 2009
- 58. 61 What is the right organizational structure?What is the right organizational structure? No perfect way to organize.No perfect way to organize. Example of team structure forExample of team structure for small-medium retailersmall-medium retailer Chaffey 2009Chaffey 2009
- 59. 62 Background to digital marketingBackground to digital marketing Reshaping the marketing mix – 4PsReshaping the marketing mix – 4Ps From OGC to UGCFrom OGC to UGC Stepping into the internet – A look at VWsStepping into the internet – A look at VWs Digital marketing implementationDigital marketing implementation Benefits and challenges of digitalBenefits and challenges of digital marketingmarketing Guest speaker – Marketing by MySpaceGuest speaker – Marketing by MySpace Today’s discussionToday’s discussion
- 60. Benefits and limitations of digitalBenefits and limitations of digital technologies totechnologies to customerscustomers BenefitsBenefits LimitationsLimitations ConvenienceConvenience Delivery timesDelivery times Access to informationAccess to information Information overloadInformation overload Enhanced functionalityEnhanced functionality Access to technologyAccess to technology New products and servicesNew products and services SecuritySecurity Lower pricesLower prices Cost implicationsCost implications Jobber 2007Jobber 2007 6363
- 61. Benefits and limitations of digitalBenefits and limitations of digital technologies totechnologies to organizationsorganizations BenefitsBenefits LimitationsLimitations Investment reductionInvestment reduction Operational costsOperational costs Reduced order costsReduced order costs Set-up costsSet-up costs Improved distributionImproved distribution Short-termismShort-termism Opportunity for reducedOpportunity for reduced selling costsselling costs High-cost contentHigh-cost content Relationship buildingRelationship building Connective to transactionalConnective to transactional relationshipsrelationships Customised promotionCustomised promotion Over-specializationOver-specialization New market opportunitiesNew market opportunities Technological desertsTechnological deserts Marketing researchMarketing research opportunitiesopportunities AuthenticityAuthenticity Jobber 2007Jobber 2007 6464
- 62. Are there any benefits from social media,Are there any benefits from social media, or is it all hype?or is it all hype? 65 IBM social software benefits acknowledged by %of survey respondents 87% 84% 84% 77% 74% 42% 60% 65% 65% 0% 20% 40% 60% 80% 100% Increased skills Accessed experts quicker Shared know ledge w ith others Reused assets Increased productivity Improved personal reputation Increased sense of belonging Increased sales Improved customer satisfaction Poole 2008: IBM Global Technical Services Knowledge Community of Practice Business Impact Survey 2007, completed by approximately 2,300 respondents
- 63. But there are challenges to UGCBut there are challenges to UGC • Around 40% of UGC websites have more than 500 membersAround 40% of UGC websites have more than 500 members • But few engage, i.e., contribute, retrieve, and explore UGCBut few engage, i.e., contribute, retrieve, and explore UGC Deloitte 2008, Di Gangi 2008Deloitte 2008, Di Gangi 2008 6666
- 64. Users create their own meaningsUsers create their own meanings 67Wesch 2008
- 65. 68 There is nowhere to hideThere is nowhere to hide http://www.youtube.com/watch?v=t8XxcOj3SeoFortune, Rey 2008 Monitor social media sites andMonitor social media sites and react in a timely fashionreact in a timely fashion
- 66. Ethical issues in digital marketingEthical issues in digital marketing Digital divideDigital divide Social exclusionSocial exclusion Intrusions on privacyIntrusions on privacy Marketing to childrenMarketing to children Jobber 2007Jobber 2007 6969
- 67. Global digital dividesGlobal digital divides Jobber 2007Jobber 2007 7070
- 68. 7272 PeoplePeople • Net generationNet generation • NeuroplasticityNeuroplasticity •New demandsNew demands TechnologyTechnology • Social software (Web 2.0)Social software (Web 2.0) • Broadband accessBroadband access • Mobile hardwareMobile hardware BusinessBusiness EnvironmentEnvironment • GlobalizationGlobalization • Pace ofPace of changechange • InformationInformation loadload Watch out! Forces converging….Watch out! Forces converging…. Mahaley 2008Mahaley 2008
- 69. The 5 I’s of digital marketingThe 5 I’s of digital marketing Identification – customer specificsIdentification – customer specifics Individualism – tailored for lifetime purchasesIndividualism – tailored for lifetime purchases Interaction – dialogue to learn about customers’Interaction – dialogue to learn about customers’ needsneeds Integration – of knowledge of customersIntegration – of knowledge of customers throughout companythroughout company Integrity – develop trust through non-intrusiveIntegrity – develop trust through non-intrusive marketing such as permission marketingmarketing such as permission marketing Peppers & Roger 1997Peppers & Roger 1997 Will it replace theWill it replace the traditional marketing mix?traditional marketing mix? 7373
- 70. 74 We digitized audio and video,We digitized audio and video, why can’t we just digitize,why can’t we just digitize, you know, Earth”you know, Earth” Philip RosedalePhilip Rosedale Chairman of the BoardChairman of the Board Linden LabLinden Lab
- 71. 75 “I think there’s a world market for maybe five computers.” Thomas Watson, Chairman of IBM, 1943 “There is no reason anyone would want a computer in their home.” Ken Olson, President, Chairman and Founder of Digital Equipment Corporation, 1977 “Heavier-than-air flying machines are impossible.” Lord Kelvin, President, Royal Society, 1895
- 72. 76 Thanks andThanks and see you in world!see you in world! Karinda RhodeKarinda Rhode aka Robin Teiglandaka Robin Teigland robin.teigland@hhs.serobin.teigland@hhs.se www.knowledgenetworking.orgwww.knowledgenetworking.org www.slideshare.net/eteiglandwww.slideshare.net/eteigland
- 73. Sources and acknowledgementsSources and acknowledgements − Allen, JP,Allen, JP, https://usffiles.usfca.edu:443/FacStaff/jpallen/www/5thingswithcustomersv3.pdfhttps://usffiles.usfca.edu:443/FacStaff/jpallen/www/5thingswithcustomersv3.pdf (Accessed 24 April 2009).(Accessed 24 April 2009). − Chaffey, D. 2009.Chaffey, D. 2009. Benchmarking to improve your digital marketing strategy,Benchmarking to improve your digital marketing strategy, www.davechaffey.com/blog/www.davechaffey.com/blog/.. − Deloitte, 2008. 2008Deloitte, 2008. 2008 Tribalization of Business Study.Tribalization of Business Study. − DesAutels, P. 2008. The Multinational’s Nemesis, ICIS 2008.DesAutels, P. 2008. The Multinational’s Nemesis, ICIS 2008. − Di Gangi, P. 2008, The Content Web Sites, Co-Creation of Value: Exploring EngagementDi Gangi, P. 2008, The Content Web Sites, Co-Creation of Value: Exploring Engagement Behaviors in User-generated Content Web Sites, Colloquium at Florida State UniversityBehaviors in User-generated Content Web Sites, Colloquium at Florida State University College of BusinessCollege of Business − Gurteen, D. Online Information 2007: KM goes Social,Gurteen, D. Online Information 2007: KM goes Social, http://www.slideshare.net/dgurteen/km-goes-social-194717http://www.slideshare.net/dgurteen/km-goes-social-194717 − Haag & Cummings, 2008. Information Systems Essentials, McGraw-Hill/Irvine. − Jobber, 2007. Principles & Practices of Marketing, Fifth Edition, McGraw-Hill. − Poole, IBM: Web 2.0 goes to work, http://www.slideshare.net/jward5519/ibm-web-2-0-Poole, IBM: Web 2.0 goes to work, http://www.slideshare.net/jward5519/ibm-web-2-0- goes-to-work-presentationgoes-to-work-presentation − Wesch, M. http://www.youtube.com/watch?v=TPAO-Wesch, M. http://www.youtube.com/watch?v=TPAO- lZ4_hU&feature=PlayList&p=F3C55BF4FAEC5737&playnext=1&playnext_from=PL&indexlZ4_hU&feature=PlayList&p=F3C55BF4FAEC5737&playnext=1&playnext_from=PL&index =22=22 Acknowledgements − Allen, JP, University of San Francisco − Mahaley, S., Duke Corporate Education − Fuller, R., Goh, S., Wasko, M., Florida State University, College of Business 77
- 74. 78 Background to digital marketingBackground to digital marketing Reshaping the marketing mix – 4PsReshaping the marketing mix – 4Ps From OGC to UGCFrom OGC to UGC Stepping into the internet – A look at VWsStepping into the internet – A look at VWs Digital marketing planningDigital marketing planning Benefits and challenges of digitalBenefits and challenges of digital marketingmarketing Guest speaker – Marketing by MySpaceGuest speaker – Marketing by MySpace Joakim FriedmanJoakim Friedman Today’s discussionToday’s discussion
Editor's Notes
- Gen-Y Previsions were born into hierarchy Family, schools, society, work, religion Gen-Y Connected – born digital Autonomous – latchkey, make their own decisions, forced Multitasking
- http://open-government.us/ http://www.moveon.org/
- Distance is no longer a cost Business location becomes irrelevant Technology permits continuous real-time trading, 24/7
- Distance is no longer a cost Business location becomes irrelevant Technology permits continuous real-time trading, 24/7
- Goh: Since we're not hip on mobile commerce in the USA, I show them some youtube videos of how cell phones in Japan are used as multi-function devices i.e. payment systems (you wave your cell phone in front of a vending machine to pay for a coke, or at a checkout line), used as personal GPS devices, integration with a GIS (geographic information system) to get directions and ask simple questions like "what restaurants are nearby", etc.d and you can give us comments
- Viral marketing: many companies are using viral marketing techniques to promote their products to a wider online audience. Viral marketing is not a new concept by any means—it is the electronic version of word of mouth. Viral messages are spread every day (for example, when a joke is received via e-mail and then forwarded on to friends). Hotmail provided one of the first free e-mail services and rapidly expanded its user base by attaching a tag at the end of each message stating ‘get your private free e-mail at www.hotmail.com’. The viral effect soon took hold and messages were exchanged between users across the Internet. Hotmail (www.hotmail.com) became the number-one web-based e-mail supplier, with over 14 million users worldwide, most from a message sent to a handful of paid ‘e-mail’ users. The prospect of free e-mail was hard to resist and it was impossible not to tell others. To be effective, viral campaigns need to provide some incentive for the user to pass on the message, which may be in the form of giveaways.30 Additionally, companies attempt to harness this viral effect by building messages that are suitably engaging and promote an aspect of their company using content that customers want to read and send on. This requires some creativity and a strong understanding of the customer base. Humour is one way of creating a strong viral (or pass-along) effect. Pepsi (www.pepsi.com) famously e-mailed a series of streaming video adverts prior to the 2002 World Cup, stealing a march on its largest competitor. ‘Giving something for nothing’ is another effective means of increasing the viral effect. Companies like 5pm.co.uk (www.5pm.co.uk) now sends e-mails promoting specific off-peak restaurant deals, redeemable only through unique links noted on the e-mail, with the intention that these will be passed on to ‘new’ customers. Almost everything has viral marketing potential. Companies that do not have an e-mail signature file are missing a viral marketing opportunity. (Jobber, David. Principles and Practice of Marketing, 5th Edition. McGraw-Hill International (UK) Ltd, 12/2006. 18.6.1.1). <vbk:0-07-711415-9#outline(18.6.1.1)>
- Speaker notes: I like put things into perspective. The theme of today’s Corporate Relations event is that of seeing opportunities in the midst of the financial crisis and I think that what is interesting and relevant here is that several economic historians had actually predicted the crisis that we are experiencing now. I don’t have time to go into all the details, but what we are seeing is a pattern repeating itself. As in the late 18th and 19th Centuries there was a technological innovation that led to a period first of transformation as the innovation began to be diffused, then a period of rationalization leading to an imbalance, and then to a financial crisis coming around 40 years after the innovation. However, in the past, these financial crises have then led to periods of great economic development – industrial revolutions, in which industry profitability has been restored through a redistribution of the value-added between capital and labor. But more importantly, these crises filtered out those organizations that could not adapt and change to stay competitive in the new industrial environment. And one of the most important things that is of interest for today’s discussion is that in one of the factors facilitating these new phases of economic growth following the crisis has been that a generation of people that had never experienced life without the innovation starts to enter the workforce – thus they are not restricted by old ways of thinking. Next slide experiencing now some economic historians claim to be due to the innovation of the microprocessor and microelectronics in the 1970s. Similar to what we experienced with the innovation of the steam engine in the late 18th C and the internal combustion engine and electric motor in the late 19th C, there was a subsequent crisis about due to various forces converging. We saw that as these basic innovations were diffused, people stopped investing in the existing industrial structure and instead focused on investing in a new generation of competitive machinery, which then led to an industrial revolution in both cases as the innovations became embedded in society. At the same time, the crisis served to release the negative pressure that had been built up as well as to restore industry profitability through the redistribution of value-added between capital and labor. Wikipedia on alfred chandler : The thesis of each of these works is this: during the 19th century the development of new systems based on steam power and electricity created a Second Industrial Revolution, which resulted in much more capital-intensive industries than had the industrial revolution of the previous century This emphasis on the importance of a cadre of managers to organize and run large-scale corporations was expanded into a "managerial revolution" in The Visible Hand: The Managerial Revolution in American Business (1977) for which he received aPulitzer Prize. He pursued that book's themes in Scale and Scope: The Dynamics of Industrial Capitalism, (1990) and co-edited an anthology on the same themes, with Franco Amatori and Takashi Hikino, Big Business and the Wealth of Nations (1997) Krugman nobel lecture - straight to how bad it's going to get in 09 and what we need to do. he predicts 6% (!) gdp drop in the US. that is unfathomable. 11% unemployment. Other notes Notes from article - Schön, L, Economic Crises and Restructuring in History A crisis is connected with changes in the long term or structural conditions built up during a rather long period of time and effects behavior for a long time to come Transformation – changes in industrial structure – resources are reallocated between industries and diffusion of basic innovations with industry that provides new bases for such reallocation Rationalization – concentration of resources to most productive units within the branches and measures to increase efficiency in different lines of production Shifts between transformation and rationalization have occurred with considerable regularity in structural cycle of 40 years – 25 years on transformation, and 15 years on rationalization. Crises been part of this cycle as well International crisis in 1840s – How go from crisis to expansion quickly – went quite rapidly in 1930s for Sweden – but Sweden in opposite corner in 1970s 1850s – upswing of industrial and infrastructural investments was linked to breakthrough of mechanized factories in Sweden, modernization of steel processes and construction of railways 1930s and more marked after WWII late 1940s - expansion of electrification and diffusion of automobiles, processing of electrosteel to small motors in handicraft and household – combination with motorcar – new styles in living and consumption Waves of investments around development of an infrastructure from basic innovation of preceding cycle mid 1970s – microprocessor – knowledge and information in production of goods and services It is not the basic innovation itself – but the diffusion of the innovation that counts! When invented, then expensive to implement, have a narrow range of application – Following generalization – A structural crisis (that has been preceded by an early development of basic innovations) has put an end to old directions of investments mainly in rationalization of existing industrial structure and given rise to investments in ne and devt of new tech that after one decade (the length of the classical Juglar cycle of machinery investments) has created a new generation of economically competitive machinery Reallocation of labor occurs approx 15-30 years after the structural crisis Development of markets – distribution of value added between capital and labour is one mirror of these changes Diffusion of innovations leads to expansion of markets and arrival of new competitors – Structural crises – release negative pressure and restored profitability in industry – get rid of those who not competitive
- Picture from www.archives.gov.on.ca/ENGLISH/exhibits/parad...
- According to Alexa Site Rankings (US-based): 1.) Google 3.) Facebook 4.) YouTube 5.) MySpace 8.) Wikipedia 18.) Flickr 28.) Apple 43.) LinkedIn 57.) Dell 75.) Twitter According to Alexa Site Rankings (World Rankings): 1.) Google 3.) YouTube 5.) Facebook 7.) Wikipedia 9.) MySpace 33.) Flickr 62.) Apple 141.) LinkedIn 157.) Dell 235.) Twitter
- http://www.youtube.com/watch?v=TPAO-lZ4_hU&feature=PlayList&p=F3C55BF4FAEC5737&playnext=1&playnext_from=PL&index=22
- Source: Deloitte (2008) Tribalization Study
- Our competitive advantage is our ability to attract talented people to collaborate and innovate together. Aleksander Farstad, eZ Systems Særlig innen media: - Lagardere, Prisma Presse, Mandadori og Sport24/Group Figaro Men også annet som Societe General, Banque Populaire, SNCNF, Orange, France Telecom and Ministry of Defence. Vi har nå i Frankrike 51 partnere Bluechips of enterprise content management 2005 – 35 people employed – less than 10 mln sek open text oracle eZ Microsoft EMC German JDK evalute the ECM market of 2005 How can relative small Norwegian company – gather more than 700 people from 33 countries in a small town in Norway South America, Australia, japan, N America, Mozambique Norwegian government doing a lot in open source thinking Suez – 14th largest company in world – largest French company Univ of Sao Paulo – largest S America company Harvard – We are not alone – we are not a small company, as a company we are small – but small piece of the ecosystem – We are the enablers and together we are one of the largest companies 300 mln euros together We can scale business model of managing risk
- Screen 1 – Location 1 – Duke CE Office Screen 2 – Slide 14 Theme One – Our Evolution Toward the 3D Internet. What’s changing, how and why? This slide speaks to the ongoing evolution from the first web to the new web IBM and many other companies feel is developing. Web 1.0 – What we now see was all about getting people on. This is has been described as ‘the democratization of access’ which set the stage for the web we are living within today. Web 2.0 – Is all about participation, lead by new media savvy users and a growing number of social tools. This is has been described as ‘the democratization of participation’ a place where the playing field is being leveled for global collaboration, connection and participation. In this stage ‘people’ and the communities they are apart of take center stage. All ages, all skill levels and increasingly more sophisticated tool sets blend to raise the bar for knowledge and information sharing. Web 3.0 – On the next horizon we see another phase or augmentation of the web. This is has been described as ‘the 3D internet’ and it describes a new media-rich , converged social platform that adds a new dimension the web worlds we have seen to date. This new world includes realistic collaboration spaces, virtual social worlds, the merging of many new media and our connection via a medium that will make you feel like you can transcend geography. We are in the very early days of discovery of this space across IBM and are discovering a variety of new opportunities and application for our business. (- > launch slide15)
- August 23, 2006, http://www.springwise.com/automotive/first_car_brand_drives_into_se/ Scion just became first automaker to run a campaign in Second Life, releasing virtual cars in the popular metaverse. Toyota's progressive brand announced the initiative at the Second Life Community Convention in San Francisco. While a real-world version of the boxy Scion xB was driven around a parking lot near the convention center, silver virtual models were dropped at various points in Second Life for residents to drive. A full launch will follow in October, when SL citizens will be able to customize Scion models. Makes sense, considering Scion already lets buyers do a fair amount of customization on real-world cars. For images of Scion's launch in Second Life, see intellagirl's coverage of the event. (Thanks to Cyrus Huffhines at Millions of Us for lending us an xB!) Second Life is only accessible for people over 18, so Scion also launched in Whyville, a virtual world for teenagers. Residents of Whyville can buy a Scion with clams (the local currency), customize the car and drive their friends around. Since Whyville has an educational slant, teaching kids about everything from science to money management, members can take out a virtual loan through the site's Club Scion and Toyota Financial Services. Scion launched in Whyville in May and over 1,200 Scions have been purchased since. For more on brands entering Second Life, check out our previous coverage of Aloft Hotels and American Apparel. The later has sold over 2,000 items of clothing in SL (source: AdAge), and offers virtual shoppers a 15% discount if they buy the same piece of clothing in the real world. Who's next? Adidas Reebok is planning a Second Life project that will let SL residents give feedback on sneaker models and colours. Meanwhile, engineers at Amazon are working on building a bridge between Amazon and Second Life (Amazon's Jeff Bezos is an investor in Linden Lab, which created Second Life). Last but not least, trendwatching.com offers an extensive overview of branding in virtual worlds in youniversal branding. Websites: http://www.scion.com and http://secondlife.com
- Several companies are now taking the ideas related to open innovation into SecondLife. For example, Philips Design has created several open air meeting areas on Second Life with the purpose of testing virtual concepts and allowing SL residents to participate in co-design projects. During one event a group of approximately 20 avatars comprising educators, computer specialists, and marketers, discussed the subjects of packaging, clothing, and future of self-expression in smaller groups led by moderators[1] (Figure x). Recently the company opened the Co-creation Experience[2], which helps the company develop a personal connection with members of its ‘Philips Design Friends Group’, now comprising more than 200 people who proactively offer insights and ideas including ongoing dialogue concerning their habits and behaviors in this virtual space. [1] www.lostinthemagicforest.com/blog/?p=28 [2] http://www.design.philips.com/about/design/designnewscenter/news/article-15083.page
- http://flickr.com/photos/secondsweden/2110677418/
- NYC, NY, November 27 2007: Virtual world-based fashion design is now a reality. “Soon all fashion designers will be originating their designs and managing the production in virtual worlds.” says Shenlei Winkler, director of the Fashion Research Institute. “Why such a dramatic change? Economics, pure and simple.” The Fashion Research Institute (FRI) in conjunction with IBM is developing a product lifecycle management solution for the fashion industry that specifically addresses the industry’s unique needs. The FRI-IBM solution will sweepingly alter how fashion does business. The solution cuts time to market. It provides real time information to fashion executives and allows better management of human and material resources. It is a greener solution, as well, as it reduces the carbon footprint of traditionally wasteful fashion industry practices. “We’ve moved beyond the marketing hype of virtual worlds. With our solution we have answered the question ‘How can you use virtual worlds for big business?’” Winkler said. “Quite apart from virtual fashion for avatars which remain in virtual worlds, FRI has created a new process that encapsulates the real life fashion designer and her workflow in a virtual world. Designers and other fashion industry personnel work together in a virtual world to expedite real life production, using an IBM-backed solution that seamlessly manages the process. FRI’s virtual world-based product design solution allows collaborators to design, modify and perfect their products in real time. Product design-centered conversations occur with a real time presence of all concerned parties regardless of geographical location, time zone differences, or language barriers. Fashion businesses that use virtual worlds for product design will deliver huge savings of time, money, and energy. Fashion Research Institute (FRI) conducts research into technology-based initiatives and develops emerging technologies to sweepingly overhaul traditional fashion industry practices and methodologies. FRI’s mission is to reduce the carbon footprint and change the environmental impact of the industry in ways that are sustainable, replicable, respectful of the practitioners, and meaningful for all stakeholders. Some of FRI’s projects include inventing new, improvedforms of lyocell textiles from waste biomass generated from biofuels production; inventing a virtual world-based design methodology; and inventing a new anti-counterfeiting methodology for luxury fashion products.
- Carl vast – autodesk – ceo – 2005 -2006 before you bend the first plate of steel for a plane, you should be able to fly, service, and pilot virtually
- Function – e-commerce function – inte bara virtuell, men riktig handel –sälja kläder – real life kläder – tok in ett företag – lite London företag – on edge för detta- clothes against violence – street – urban betonade –kula jackor – vi lanserar virtuella kopior av varje – men bara 100 av varje maximum!!!! 3d modeler av dem som man kan köpa I real life - real kläder tar aldrig slut –men virtuella tar slut – begränsat . Virtuelall pris högre än det verkliga – inte hos kinesarare, kunde inte förstår det.. Objects with a set lifespan have a repurchase value which falls in relation to wear. Unique objects can have a market value, which is fixed via auctions, which exceeds the repurchase value. Assets that do not wear out, such as land or property, have no repurchase value.
- Speaker note I also like to take this opportunity to show you about how some countries are even leveraging these new internet-based media and networks. One example is China that is putting big efforts into virtual worlds. In May 2007, the Cyber Recreation Department of Beijing signed a partnership agreement with MindArk, a company in Gothenburg, to develop the largest virtual world ever. The idea is to create a virtual world in which 7 mln people can be inworld at the same time – both for entertainment and for business opportunities. MindArk has auctioned off five banking licenses to create real banks where virtual money can be borrowed and invested – there is a real cash economy in which money can be invested and taken out. Why is China doing this??? Think it is very much in the quotation above – the real china….. And through this virtal world, they can reach out to the 150 mln overseas Chinese – build networks to these people to gain access to resources that these people have – financial resources, access to markets, technologies, etc. This world will be launched something in early 2009 and it will be very exciting to see how this develops. Next slide Other notes Discussion with Frank Campbell - MindArk The banks were separate from the Chinese deal – they were for entropia universe In general – banking licenses – they are up and working now – 2 years since released now, competitive branch like any others, some banks have gone ahead and some falling behind – market competition like in any other market As for China, the partnership deal would allow them to regulate the banks and anything else on their planet – dotman As for the project, they are very good in the development along the way…not sure when to be released but well on their way. The press release was for when the agreement was signed in Nov 2007. As for the 10,000 people hired, they have a large number of people, but not sure if it is of that large volume. They chose our platform because they recognize our platform that we have to be of use – combines entertainment with cash economy – provide both business opportunities and entertainment We have state of art graphic engines that will keep going for several years - Platform – make an effort to make topnotch Cry engine (now in final round with NASA for educational platform) As for financial crisis – people will have less money – will not spend more time at home and look for entertainment – this is a real cash economy so we are feeling it like anyone else – Dotman is what it is called – this very Chinese – have dotcoffee, dotman – sign of new era Robert Lai is the one who died and now been taken over by others. Wikipedia.org Entropia Universe is an online virtual universe designed by Swedish software company MindArk. It advertises a unique "Real Cash Economy (RCE)" in which Entropia Universe currency (PED - Project Entropia Dollars) can be redeemed back into real world funds at a fixed exchange rate with the US dollar, where 10 PED = $1 USD.[1][2] This means that virtual items acquired inside Entropia Universe have a real cash value, and a participant may, at any time, withdraw their accumulated PEDs back into real world currencies according to the fixed exchange rate.[3] On 30 May 2007, it was announced that Entropia Universe had been chosen by the Beijing Municipal People's Government supported online entertainment company Cyber Recreation Development Corp. (CRD) to create a cash-based virtual economy for China, creating the largest virtual world ever. Financial Times BEIJING, June 06, SinoCast -- China is to build the first homegrown virtual world supported by real currency, reveals Sweden- based Entropia. Millions of people will work, communicate with each other and be in love in the virtual world. CRD, under the control of Beijing Municipal People's Government, has been in talks with Entropia and has chosen it as the builder of the virtual world from many competitors including Second Life. Entropia beat down its rivals, owing to its safety, stability and capacity to control a Real Cash Economy, says its spokesman. The server to support the virtual world will be located in China Mainland, under the inspection and management of CRD and Sweden- based MindArk. Entropia's spokesman remarks the building of the virtual world will create 10,000 jobs for the Chinese market. Upon its completion, 7 million homegrown users and 150 billion overseas users will join to communicate with each other and do business in the virtual world. The annual benefit from China's virtual economy will top USD 1 billion, according to evaluation. Entropia's virtual world supports trade of dummy goods and users can meet in reality to make deals. Market Wire Virtual World Entropia Universe Issues First Ever Virtual Banking Licenses for $400,000 MindArk Announces the Five Winners of the World's First Virtual Banking License; Real World Banks and Celebrities Among the Buyers Highlighted Links Entropia UniverseGOTHENBURG, SWEDEN -- (MARKET WIRE) -- May 8, 2007 -- In yet another first for both the virtual world and the real world, Entropia Universe creators MindArk PE AB today announced the long-awaited results of the very first virtual banking license auction after months of active bidding. The five licenses sold for an astounding total of $404,000 to a mix of real world banks, Entropia celebrities, and entrepreneurs, all seeking to invest in the virtual realm. Up for sale since January, these two-year exclusive licenses will integrate real world banking systems into Entropia Universe.
- There is significant probability that, over time, market pressures will lead to a merging of current virtual worlds into a smaller number of open-sourced environments that support the free transfer of assets and avatars from one to another with the use of a single, universal client Move fast, be light on your feet. Might not be second life…but there is something here…don’t know which way go… MS 10-15 år, google 5 år years to reach peak Joost – allting går fortare… Ahead of herd… Technology lifecycle… Experiment and “play” Find and engage the enthusiasts in your company Support, but make aware of “risks” Don’t ask your leading customers what they think Stay on the look-out Follow developments See how they affect the path to a future scenario Consider creating independent organization for more serious efforts Anonymous bank buying virtual banking contract on Entropia Universe But don’t forget other emerging media Coca-Cola uses combination of all new media channels, e.g., YouTube, MySpace, SL
- The digital context: what type of activities are being considered for digital application. –Digital marketing audit and SWOT analysis: analysis of the marketing environment and internal competences to assess strengths, weaknesses, opportunities and threats, and to identify the key issues that will need to be managed in the digital context. –Digital marketing objectives and strategy: determination of what is being sought (for example, customer acquisition or retention) and how the objectives are to be achieved. A key decision is the creation of a competitive advantage among target consumers. Sources include lower prices, lower costs, improved service, greater product variety, and product customization. –Digital marketing mix: the mix must match target customer needs based upon product (individual, customized, digital), price (dynamic, transparent, flexible), promotion (instantaneous, permission-based, interactive) and place (new channels, virtual, global). –Digital marketing implementation: a decision needs to be made regarding whether all the implementation is handled ‘in-house’ or whether it is partly outsourced. Key issues are integration and interoperability. An action plan must be drawn up. –Digital marketing evaluation and performance control: key variables such as targeted market share and attitudes need to be evaluated, and reasons for poor performance analysed. (Jobber, David. Principles and Practice of Marketing, 5th Edition. McGraw-Hill International (UK) Ltd, 12/2006. 18.9). <vbk:0-07-711415-9#outline(18.9)>
- Serena Software Adopts Facebook as Corporate Intranet "Facebook Fridays" Foster Fun and Community Spirit at Serena Software SAN MATEO, Calif. — November 2, 2007 — Serena Software, Inc. is breaking out of the corporate mold by announcing today that its 800 employees around the globe will participate each week in a company-wide program called “Facebook Fridays,” which encourages employees to find fun and personal connections in the workplace. Each Friday, employees are granted one hour of personal time to spend on their Facebook profiles and connect with co-workers, customers, family and friends. This initiative will start on Friday November 2nd and will be rolled out in 18 countries where the company has offices. As Web 2.0 technologies such as instant messaging (IM), wikis, and texting make communication faster and more efficient, the “human” element of communication can feel increasingly removed. How can people bring that sense of personal interaction and community back into the workplace? Surprisingly, through one of the hottest technologies around—Facebook, a social utility that connects people with friends and others who work, study and live around them. Fanatic for FacebookSerena President and CEO Jeremy Burton is an avid user of Facebook, using it to keep in touch with employees, friends, and business partners from wherever he is in the world—in Japan visiting customers or racing cars at Laguna Seca. He wants to bring the benefits he gains from using Facebook to his company, and allow employees to have more fun combining their personal and professional lives. He is doing this by making Facebook his company’s intranet—a place where employees can find everything from a list of company holidays to the CEO’s favorite movie. Burton believes that colleagues who get to know one another on a more personal level will work together better. The company already has more than 30% of its global workforce on Facebook prior to the launch of Facebook Fridays. “As our business continues to grow, the workplace becomes more and more distributed, which can make us feel disconnected from one another,” said Burton. “Social networking tools like Facebook can bring us back together, help us get to know each other as people, help us understand our business and our products, and help us better serve our customers—on demand. A corporate culture that fosters a sense of community and fun will ultimately help us get more done. Companies that do not embrace social networking are making a huge mistake.” Recent studies indicate there are roughly 70 million Gen Y’ers (born between the years 1980-2000), and Burton believes it’s critical to understand and embrace “their world,” including on-demand Internet applications and an “innovation without permission” mentality. Serena is using new methods of recruiting, like Facebook, to tune into this next generation of workers who are, ultimately, the corporate leaders of tomorrow. About Serena Software, Inc. Serena Software, Inc. is the leading global independent software company focused on Business Mashups and Application Lifecycle Management (ALM). More than 15,000 organizations around the world, including 96 of the Fortune 100, rely on Serena solutions to automate the application development process and effectively manage their IT portfolio. Serena is headquartered in San Mateo, California, and has offices throughout the U.S., Europe, and Asia Pacific. For more information on Serena solutions and services, visit www.serena.com. Serena is a registered trademarks of Serena Software, Inc. All other product or company names may be trademarks of their respective owners, and their use is intended for identification purposes only and not in association with or as sponsorship or endorsement by such owners Copyright © 2007 Serena Software, Inc. All Rights Reserved.
- Strategic competence: the ability to identify new market trends and to determine how the internal capabilities of the organization can be used to exploit emerging opportunities. Financial competence: the required level of resources to fund the necessary investment. Innovation: the ability to innovate in order to stay ahead of the competition. Workforce: human resource management practices need to be employed to recruit, retain, train, motivate and develop staff with the necessary skills to deliver speedy and accurate service, and to sustain high levels of online technical reliability. Quality: using prevention-quality systems to minimize error and fulfil customer expectations. Productivity: two key areas are customer interface productivity and logistics productivity. Employing the latest computer technology and highly trained staff helps to achieve high levels of productivity. Information systems: data flows need to be integrated, and the upgrading of the company's information system is required to stay ahead of the competition. (Jobber, David. Principles and Practice of Marketing, 5th Edition. McGraw-Hill International (UK) Ltd, 12/2006. 18.9). <vbk:0-07-711415-9#outline(18.9)>
- In order to maximize the opportunities created by digital technologies to meet and exceed customer expectations, an organization should assess the benefits and limitations of such technologies and their likely impact on organizational success. By posing questions such as ‘Does technology change the target or scope of the market?’, ‘Does new technology help satisfy customer needs better than existing offers?’ and ‘To what extent will customers use new digital over the long term?’, a company can begin to plan how it should proceed. Table 18.2 shows some of the key considerations from a consumer perspective and Table 18.3 from an organizational perspective. (Jobber, David. Principles and Practice of Marketing, 5th Edition. McGraw-Hill International (UK) Ltd, 12/2006. 18.7). <vbk:0-07-711415-9#outline(18.7)>
- There is more turbulence Socially, economically, environmentally, technologically Traditional mechanistic/heir approach to organizations is not able to cope. Governments – Nationalization e-Government Social Enterprises Training Inc YMCA
- Growing number of cellphones…and other devices Larger user base Declining prices Internet access without a PC Greater bandwidth Growth of EC! Work through this build. Points to make: - The perfect storm for new approaches to developing your next generation leaders: There are three forces at play – Changes in the learning profiles of the next generations – sometimes referred to as Gen y or the V-Gen. (points related to how these younger people communicate, connect, think about solving problems, use networks, etc.) They are NOT satisfied with having a passive role in the learning process: they want choice, they want to be a contributor, they want to be able to influence the direction of their careers. Changes in the technology landscape – points related to web 2.0, 3-D web, changes allowed related to role in the ‘internet’, moving from consumers of information to creators, editors of information, the move from web as single-player space, to the web as multiplayer environment, the networking tools, the broadband access, and the development of mobile platforms to be in constant communication and collaboration anywhere, anytime. Changes in the business landscape – points related to the global nature of business today, extended reach with offices around the world, managing suppliers and clients around the globe, dealing with the rate of change and volume of information available, and how business today needs the agility and intelligence (people) to move deftly through this reality.
- Suggestion for replacement of traditional marketing mix framework
- This ‘telephone’ has too many shortcomings to be seriously considered as a means of communication. The device is of no value to us.”Western Union internal memo, 1876.