Monday, April 19, 2010

Blog #5

I have used social media tools a lot in the past as a way to research various things. In this day and age, social media has grown in popularity and has become one of the first places to access when you are in search for information. Like it says in the Groundswell chapters, "blog reading is one of the most popular activities... with one in four online Americans reading blogs." That is a pretty surprising statistic and gives insight into just how many people use social media. I think it is very important for companies to learn what to do with this information and how they can use it to their advantage. One thing that stuck out to me in the article was about Wikipedia. This website is made up of various people on the Internet that want to contribute what they know about various brands, people, and companies. Most of the time the source is unreliable and the items posted on the website are inaccurate. However, if companies are able to create their own web pages clarifying facts, people will be more inclined to rely on that information, rather than on stuff they find on Wikipedia. This website is just an example of how popular social media really is. People want to connect and be able to rely on others to find out information. Social networks provide a way for people to form relationships and maintain old ones. I like how the chapters listed out various reasons why people use social media because it gave me an idea of all of the different motives for why people share so much information online. However, the fundamental reason is to connect with people.
Another thing I learned from the Groundswell chapters was the fact that people don't even have to be too technologically savvy in order to participate in social media. There were numerous charts showing how people of all ages, and of all different backgrounds use social media in their lives. Now that I think about it, my older sister who hates computers and anything that has to do with the use of technology, still has a Facebook account. Despite the fact that she does not have much experience with computers, she still finds a way to connect to people through Facebook.
My friend has a chronic illness, which she got diagnosed with a couple of years ago. She doesn't know anyone that has the same illness, but she is able to connect to people online with the same problem as her. She says it helps her to know that they are people out there going through what she is going through. It is nice to have someone that understands your pain and so you don't feel alone. This social network is a wonderful opportunity for her to keep her spirits up and to remain positive about her health condition.
I have a facebook account and have been active for about 5 years. At first, I thought it was really cool because it was so exclusive and only people with proper college email addresses could join; however, over the years everyone is on Facebook, which makes it less desirable. A problem that I have had with the growing population is the increased amount of people that have access to your profile. I do not want everyone I know, from my mom's family friends to my family in Pakistan to know what is going in my personal life. So because of this, I have had to set a lot of privacy setting restricting access to a numerous amount of people. The reason why I want to keep my account open because I think it is a great way for people to keep in touch with old friends and it also is something that is enjoyable for me. Whenever I want to take study breaks from CPA studying, the first thing I usually do is check my Facebook account. In addition to Facebook, I have searched Google a lot to find information on products through blogs and reviews. Before I purchase a new product, I usually search it online to find people's experience with it. These reviews are usually very helpful and I am usually convinced at the things they have to say. I know that these people who write blogs and share information are not experts by any means, but I still feel that their information is helpful because they don't gain anything by posting their experiences online. Because of this, I think the reason people create blogs or take time to write reviews on products is so that people can be warned before purchasing a bad product, or to promote the use of things they find to be useful.
I used the Google blog search to find information surrounding Bobby Flay. I love watching him on food network! Google blog search was very user friendly, all I did was type in Bobby Flay into the search bar and a whole bunch of information popped up. I had no idea that there were so many blogs relating to him and that so many people had an opinion about him! There was this one blog that I opened called "Guyism: what guys need" which had information on what the six most annoying celebrity chefs were. After searching more sites, I found information on his recipes, where he is cooking next, and also some of his most popular dishes. There was also this one blog called the "Weekend Grillers Blog" which had a video of Bobby Flay cooking with President Obama which I thought was pretty cool. It is amazing how much information is out there, both good and bad, relating to Bobby Flay. It goes to show that social media is growing and companies should be aware of this, so that they can learn how to use it to their advantage.

Monday, April 12, 2010

Blog #4

After reading the article “What Walmart Knows About Customers’ Habits”, I was very surprised at the amount of information they collect on their customers. I had no idea that this practice was even in existence and I am glad that I was able to read about their methods of increasing sales and keeping an efficient supply chain.
Given the enormous amount of data that Walmart captures, do you think they have been successful at converting into an experience that serves as a competitive advantage for them?
I do think the amount of information Walmart is able to capture puts them at a competitive advantage. It only makes sense that the more information you are able to get, the better prepared you are in various situations. For example, since Walmart was able to gather information relating to what products were purchased during hurricane season, they were able to stock their shelves with those items for any upcoming hurricanes (the pop-tarts and beer). This is a competitive advantage because their competitors may not be doing the same thing. Walmart seems to invest a lot of money into this kind of technology and it has become an essential part of their sales and production supply in stores.
What do you think about the privacy issues associated with all of that data and the amount of personally identifiable data they are able to capture. Does it bother you? Do you trust them with it?
I think that the amount of personal information they gather crosses the line of privacy. I had no idea that they were able to gather so much information about each and every one of its customers just by checking out at the store. That makes me wonder; how much stuff do they know about me? I shop at Walmart quite frequently and was completely unaware of their ability to access all of my personal information. I think that if they disclosed it to their customers, then it wouldn’t be that big of an issue. This technology can access any number of items pertaining to your identification and it makes me concerned because I don’t know where all this information is going and who will be looking at the data. It bothers me a lot! I don’t trust Walmart with this information. They privacy policy doesn’t even sound that effective. It just seems that Walmart thinks they have the right to this information and they can do whatever they want with it. Also, I think it would be more fair if Walmart had something similar to Sam’s Club where customers give their personal information in exchange for a membership. This way customers are aware of how much personal data is given to the store. However, the way that Walmart currently operates seems inappropriate and sneaky. I don’t understand why it is necessary for them to capture information relating to things outside of purchasing items in the store; such as, you mortgage amounts, your court dates, etc. Why do they even need this information? I can understand why they would want to track their customers’ purchasing habits, because that directly relates to sales and gives Walmart information on how much inventory to have stocked on their shelves; but there is no need for them to have all of this other personal information. Walmart’s customers walk in to their store and innocently purchase their grocery, not having a clue that they are being examined, with all of their personal information revealed. Additionally, the fact that Walmart is so huge is a concern for me. Like it says in the article, “the Internet has less than half as much data.” That just gives insight into the huge amount of data they collect, I’m shocked!
What aren't they doing with technology that they could; that is, are they using all of the technology that is available to them to capture insights and create great experiences for their customers and, if not, what could they do?
I think they could be doing more with the technology they use to gather information. They are not doing anything to improve their customer’s overall experience in the stores. I think in addition to gathering information as to how much inventory to have stocked on their shelves, Walmart should implement a system to gather information on customer insights. This way the store would be even more competitive and have an even stronger competitive advantage. A strong indicator of a successful company is how satisfied their customers are, and Walmart is not really doing anything to find out if their customers are in fact satisfied or not through their technology mechanisms. Maybe they can start asking one or two questions at the end of the check out line pertaining to their customer’s needs and preferences. For example, they can ask if the customer’s are satisfied with their experience in the store today. This way Walmart will be on its way to gaining the satisfaction of more and more customers. Since Walmart has the ability to gather so much information through their technology, capturing customer insights and creating a great experience will be just another reason why people are drawn to the store. Another thing they can do is e-mail questionnaires relating to customers’ satisfaction levels. It states in the article that Walmart has the ability to get their customer’s e-mail addresses, so they can use it to gather insights via e-mail. I think customers will be willing to give this type of information because it will provide a direct benefit to them in the future.
What impact do you think they are having on their suppliers - making them better and more efficient or driving them too hard and reducing their profitability. Again, try to keep this in the context of technology.
Walmart is a huge distributor and is market leader. They set the tone for competition and have a lot of power as to what prices to set for various items in the industry. Walmart is the only buyer of many of its supplier’s goods and without Walmart, the suppliers may not be able to survive. The fact that Walmart has all of this power is a good thing for them, but not for everyone else in the industry, like their suppliers or other competitors. The article mentions that with Walmart, it is a world of supply and command, rather than supply and demand. That is scary for their suppliers because they are required to have the items ready for Walmart to purchase and make sure they remain happy. With their technology, Walmart is able to track what products will be needed and the suppliers must abide by their expectations. This puts a lot of pressure on their suppliers to meet their demands and poses the risk of losing them as a buyer altogether. I don’t think they have a positive impact on their suppliers. I think their suppliers just do what is asked of them and just try to maintain good relations. Walmart drives their suppliers too hard and has the power to reduce their profitability. It says in the article that if suppliers are unable to meet any sales goals in the upcoming year, Walmart will have even harder negotiations with them. The suppliers should be concerned if they are even being profitable selling to Walmart, and not about the possibility of losing them. Their plan of using their technology to institute “scan-based” trading, in which their manufacturers own each product until sold causes some concern for me. This puts all of the risk with their suppliers if products don’t sell and some companies won’t be able to handle those losses. However, because of Walmart’s size and ability to control their suppliers, most companies will be forced to be okay with this change.

Wednesday, March 3, 2010

Blog #3

The idea I have for this paper is relating to chefs and their idea of creating a new restaurant that satisfies customers’ needs. I think it would be very fascinating to explore this area and to find out what customers expect when they walk into a restaurant. For me, personally, this topic seems particularly interesting because one day in the future I hope to become a chef with my own restaurant. My true passion is cooking. I watch the food network channel every chance I get. After I get my degree in accounting, I plan to work for a couple of years in this field of work, and than eventually start learning how to cook, either in a culinary school or just by taking cooking classes. I already have a pretty good foundation of how to cook, but I think if I want to become a professional chef, there is a lot more I still need to learn!
This topic can cover a variety of areas. At first I was thinking about writing about what a customer expects from the entrée when they read a description of food on a menu. However, after more thought on this subject, I decided that it may be a little too narrow of a topic and that I needed to think of something that would expand my research. Opening up a new restaurant and creating a certain type of experience for customers is an area that I can really look into. There are so many different things to think about when opening up a restaurant; such as what color lighting to have; or what paintings to have on the wall. I think I will be surprised by what research I find relating to these different aspects. I would be interested to know how big of a role all of these different characteristics play in the overall experience for customers. The food will probably play a big role, but I think researching these different areas will be most surprising! Also, I want to find out what the most important thing is to customers when entering a restaurant? What do they hope to get from their dining experience? What aspects other than the actual food are critical in evaluating whether or not the customers enjoy the restaurant? I hope I will be able to get all these questions answered and more after I start doing my research.
The connection to the gathering and identification of customer insights to the design of valuable customer experiences is pretty strong. I think in order to effectively design a valuable customer experience, the gathering and identification of customer insights is appropriate. The more information you can get from customers, the more likely you are to design a valuable experience for them. It is also important to get information from customers in a way that presents useful information. After learning about all of the errors that could occur in gathering information from customers, I now know to be more careful in phrasing my questions, and performing other research techniques.
As soon as class was over on Monday, I used the Google Scholar search tool and was able to pull up a lot of information relating to this subject matter. I had never heard of this function on Google and was really excited to start using it! I searched for “restaurants and customer experience” and this one article came up called “Managing the total customer experience”, by Leonard Berry, Lewis Carbone, and Stephan Haeckel. This article didn’t only mention the experience for customers at restaurants, but it also describes customers’ experience at various other organizations. The article mentions that the first step in determining if the customer is satisfied with the total experience is to recognize any clues given to the customers. These clues relate to both the functional and emotional aspects of the environment. I feel that this article gives good tips and suggestions on how to effectively run any company. The main point of the article is that for any company, creating a valuable and enjoyable experience for consumers is one of the most important aspects to consider. I think that when designing a new restaurant, a key to success is to understand how each component affects customer’s satisfaction levels. From there, you can effectively design a restaurant suitable for your customers.
One example I can think of in my own personal life was at this one sushi restaurant that I felt was one of the best designed restaurants I had been to. The reason why I think it was such a great experience was because of the attention to detail they portrayed. For example, when you walked in, there was a very nice smell that masked the odor that could possibly come from the food being prepared. Also, on each table there were decorative wet napkins you could use in case your hands got dirty from the sushi (which is very likely to occur!). Another thing I appreciated was the colors and choice of decorations placed around the restaurant. All of these things made a difference in my overall experience at the restaurant. Above all, the service was phenomenal, along with the food. I truly enjoyed this dining experience from the moment I entered, to the selection of food, and even the delicious chocolate you could pick up on your way out.
I find the article by Schmitt, “Framework for Managing Customer Experiences” to be very useful. In this article, he mentions how you can divide the customer experiences into five types that form the framework for customer experiences: sense, feel, think, act, and relate. Like the article says, you should strive to create an experience that integrates all of these components. I do think it is difficult to achieve this, but with the right strategy you can be heading in the right direction!

Wednesday, February 17, 2010

Blog #2

Blink

I found this article to be very interesting. The way it is written provides a unique way of presenting this information relating to consumer insights. I learned a lot from reading it and agreed with most of the items presented. The article explains how first impressions can be misleading and goes into detail about some insights about consumers and their reactions to various products, such as songs, food, etc.



I think it is astonishing how critical just the color of margarine is to consumers. Just changing the color from white to yellow would increase sales of the product! Also, when designing a product, you would never expect how big of an impact the exterior has on sales. Like in the example with E&J and Christian Brothers, consumers preferred the E&J bottle over the bottle for Christian Brothers, which was the primary reason their sales were down. A little consumer research can go a long way! It makes me wonder if people are even being honest about what they like and dislike. How is it that they prefer one brand over another just because of the packaging, and not because of the brand or taste? It starts to question my assumptions on what people value most: taste price, brand, or package design?



Another point I found interesting is how different expert's opinions are from normal people. I had no idea that mayonnaise or Oreo cookies could be analyzed on the depth that experts look at them. When I eat an Oreo, all I think about is if it tastes good and maybe how chocolaty it may be, but to look at them on the dimensions experts do is truly fascinating. This just goes to show that consumer research may be very different than research gathered on normal people who are not experts. It is important to get information from all sources and keep everything in perspective.



Ulwick

I think it makes sense to avoid asking customers to provide solutions to issues with products in order to come up with new ideas and innovations. Customers don't know what they want or pay much attention to what problems they have with the stuff they currently use. The reason is because people just don't pay attention to what is going on with their products. Like in class on Monday, there were so many examples of how consumers don't even think about what they were doing and just did them. I think it is called get-around or something similar to that, where consumers make the best out of what products they have and just get around using them. For example, our guest speaker mentioned how one lady used four different toothpastes in a day. If we were to ask her if there was anything wrong with that, she would probably not mention anything. However, being a company with an R&D department, a light bulb should go off and the invention of a new toothpaste utilizing all attributes of the four toothpaste tubes should be created.



I think the way this article lays out the steps in obtaining information in outcome-based studies is very clear and easy to understand. I like how the example of Cordis Corporation is explained in detail showing how each of the steps are performed for them. This outcome-based research proved to be successful for Cordis. Consumers are not experts in research and development and they are not going to be able to provide solutions to issues with products or suggest many innovative research ideas. They will, however, provide you with a good understanding of what they value.



Zaltman

This is probably the most interesting article out of the three. The approach to consumer insights described in this article connects science and art which results in a very unique way of gathering data. I think the reason why I found it so interesting is because it is a technique that I have never heard before, nor would ever think of creating. I do believe that people are able to express themselves better in a visual way. I mean a picture is worth a thousand words! There is much more to go off with a picture, rather than just some verbal information from consumers. Personally, I think this technique would prove to be most successful if I were to participate in a market research study. I am a visual person and I think it is much easier for me to get my point across with a picture, rather than through words.



The problem with just getting verbal information from consumers is the fact that they may not be able to successfully articulate all of their thoughts and feelings. However, a picture just may say it all. Another thing I was concerned about while reading the article was the fact that the participants were able to bring pictures from anywhere with an unlimited amount of possibilities. This lack of constraints could pose some problems when analyzing data. There might be too much to base your research off of! Also, I think this type of research can be very time consuming.



I think that overall this method can be very effective in consumer research. This scientific approach provides answers that can be deeply analyzed and provides sufficient support for any recommendations made.

Monday, February 1, 2010

Blog #1: Marketing Persona

The persona that best describes me is a female student that is around the age of 22, who is completely dependent on their parents for support, single, and still attending college.

Personality

She understands the importance of working hard and knows that it will definitely pay off in the future. School comes first before anything else, and even though at times she will have to miss out on things, the reward for her hard work is worth more than anything else. At the moment, she is very dependent on her parents for almost everything and hasn't fully experienced what it is like to be completely independent. Her parents and family are there for her no matter what and are just a phone call away. This persona loves being around her family and considers her sisters her best friends. Also, her family is huge, 15 in total, including all her nieces and nephews! It is important to be there for her family and make sure she is making them proud. This person is always happy and is extremely loud. Also, she values her relationships with her close friends and appreciates them very much. Instead of having many acquaintances, she chooses to have a small amount of very close friends in her life.

Due to her current level of income, which is nothing because she does not work and is completely supported by her parents, she is unable to shop as much as she would like. She knows that as time passes and she graduates, those things will be more available to her. This is something that is in her control. She knows that one day after she starts work in September, she will have enough money to buy all those things she wishes she had now. However, not having new clothes or freely being able to shop does not make her unhappy. If it were up to her, she would remain in the same phase of her life that she is in now for as long as possible. It is nice to have all expenses paid and not have a single thing to worry about except doing good in school!

At the moment, her biggest area of concern is passing the CPA exam which takes up most of her time. She is unable to think of anything else and believes that the more miserable you are while studying, the better chances you have at success. When her time is not occupied by studying for the exam, she enjoys watching various television series on Netflix, such as "It's Always Sunny in Philadelphia", or "Grey's Anatomy." Netflix allows her to escape from the stress of studying for the exam and helps relax her mind. Also, she enjoys running at the gym. This helps her maintain her physique and is another way to cool off some stress. Her current nutrition level is very good and she stays away from most junk food and all fast food chains. She loves cooking and hopes that one day she can become a chef after getting sick of working as an accountant. Additionally, she enjoys surfing the net and shops online occasionally. She is someone who cannot live without her cell phone and uses the computer quite frequently. Her technology usage is high on a daily basis.

Overall, she is a fun-loving happy person who wants to be a successful career woman in the future. She strives to be the best she can be and works her hardest each and every day! I would say she is most similar to the "Fit and Stylish Student" from Cohorts' list of personas.